6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $51M | -$105M | 2.2% | -197.2% | — | — | $2M |
| 2024 | $41M | — | 4.7% | -204.2% | — | — | $1M |
| 2022 | $92M | $115M | -9.0% | -37.4% | — | — | $390000 |
| 2021 | $161M | -$88M | 8.4% | -38.6% | — | $250M | $3M |
| 2020 | $178M | -$226M | 0.4% | -124.2% | -$7M | $228M | $3M |
| 2019 | $173M | -$70M | -5.8% | -36.3% | -$60M | $211M | $22M |
How the market has priced XHG against its own fundamentals since 2024-05 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, XChange TEC.INC's revenue has declined 22.0% per year. These are computed facts, not advice.
As of FY2025, XChange TEC.INC reported — of total debt against $2M of cash; operating income covered interest expense -26.2×.
In FY2025, gross margin was 2.2%, operating margin -197.2%, and net margin -204.9%.
As of Jun '26, XChange TEC.INC traded at a price-to-earnings ratio of about 292.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.