XPEL (XPEL) Financials

$43.73 -1.48 (-3.27%)

Closing price 04:00 PM Eastern

Extended Trading

$43.78 +0.05 (+0.11%)

As of 04:10 PM Eastern

Annual Income Statements for XPEL

This table shows XPEL's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	8.71	14	18	32	41	53	45	51
Consolidated Net Income / (Loss)	8.72	14	18	32	41	53	45	52
Net Income / (Loss) Continuing Operations	8.72	14	18	32	41	53	45	52
Total Pre-Tax Income	11	17	23	39	52	66	57	64
Total Operating Income	12	17	23	40	54	67	59	63
Total Gross Profit	33	44	54	93	128	162	177	201
Total Revenue	110	130	159	259	324	396	420	476
Operating Revenue	110	130	159	259	324	396	420	476
Total Cost of Revenue	76	86	105	167	196	234	243	275
Operating Cost of Revenue	76	86	105	167	196	234	243	275
Total Operating Expenses	22	26	31	53	74	95	118	138
Selling, General & Admin Expense	15	19	21	34	48	64	75	87
Marketing Expense	6.80	7.58	9.75	18	25	32	43	51
Total Other Income / (Expense), net	-0.32	-0.14	-0.57	-0.68	-1.97	-0.94	-2.37	1.41
Interest Expense	0.17	0.10	0.25	0.30	1.41	1.25	1.00	0.08
Other Income / (Expense), net	-0.16	-0.04	-0.32	-0.37	-0.56	0.31	-1.37	1.50
Income Tax Expense	2.76	2.96	4.52	7.87	11	13	11	12
Net Income / (Loss) Attributable to Noncontrolling Interest	0.01	0.02	-	-	-	0.00	0.00	0.36
Basic Earnings per Share	$0.32	$0.51	$0.66	$1.14	$1.50	$1.91	$1.65	$1.85
Weighted Average Basic Shares Outstanding	27.61M	27.61M	27.61M	27.61M	27.61M	27.62M	27.64M	27.66M
Diluted Earnings per Share	$0.32	$0.51	$0.66	$1.14	$1.50	$1.91	$1.65	$1.85
Weighted Average Diluted Shares Outstanding	27.61M	27.61M	27.61M	27.61M	27.62M	27.63M	27.64M	27.68M
Weighted Average Basic & Diluted Shares Outstanding	27.61M	27.61M	27.61M	27.61M	27.62M	27.63M	27.65M	27.60M

This table shows XPEL's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	14	12	6.67	15	15	8.90	8.59	16	13	13	10
Consolidated Net Income / (Loss)	14	12	6.67	15	15	8.90	8.59	16	13	14	11
Net Income / (Loss) Continuing Operations	14	12	6.67	15	15	8.90	8.59	16	13	14	11
Total Pre-Tax Income	17	15	8.48	19	19	11	11	20	17	16	13
Total Operating Income	18	14	9.23	19	18	12	11	19	17	15	13
Total Gross Profit	42	41	38	48	48	44	44	54	52	51	51
Total Revenue	103	106	90	110	113	108	104	125	125	122	117
Operating Revenue	103	106	90	110	113	108	104	125	125	122	117
Total Cost of Revenue	61	65	52	62	65	64	60	71	73	71	66
Operating Cost of Revenue	61	65	52	62	65	64	60	71	73	71	66
Total Operating Expenses	24	27	29	29	30	31	33	34	36	36	38
Selling, General & Admin Expense	16	17	18	18	19	20	21	22	22	22	23
Marketing Expense	7.73	9.24	10	10	11	12	12	12	14	14	15
Total Other Income / (Expense), net	-0.48	0.43	-0.75	-0.67	0.24	-1.19	0.16	1.03	-0.11	0.33	0.28
Interest Expense	0.09	0.30	0.47	0.39	0.10	0.03	0.08	0.01	0.00	-	0.00
Other Income / (Expense), net	-0.40	0.73	-0.27	-0.28	0.33	-1.16	0.24	1.04	-0.11	0.33	0.28
Income Tax Expense	3.49	2.68	1.82	3.49	3.73	2.26	2.69	4.12	3.51	2.15	2.78
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	0.00	0.00	-	0.00	-0.08	0.20	-	0.16
Basic Earnings per Share	$0.49	$0.44	$0.24	$0.54	$0.54	$0.33	$0.31	$0.59	$0.47	$0.48	$0.37
Weighted Average Basic Shares Outstanding	27.62M	27.62M	27.63M	27.64M	27.64M	27.64M	27.66M	27.67M	27.68M	27.66M	27.59M
Diluted Earnings per Share	$0.49	$0.44	$0.24	$0.54	$0.54	$0.33	$0.31	$0.59	$0.47	$0.48	$0.37
Weighted Average Diluted Shares Outstanding	27.64M	27.63M	27.64M	27.64M	27.64M	27.64M	27.68M	27.67M	27.70M	27.68M	27.67M
Weighted Average Basic & Diluted Shares Outstanding	27.63M	27.63M	27.63M	27.64M	27.65M	27.65M	27.66M	27.67M	27.68M	27.60M	27.56M

This table details how cash moves in and out of XPEL's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.21	15	17	-19	-2.99	7.54	20	59
Net Cash From Operating Activities	6.80	11	18	18	12	37	48	67
Net Cash From Continuing Operating Activities	6.80	11	18	18	12	37	48	67
Net Income / (Loss) Continuing Operations	8.72	14	18	32	41	53	45	52
Consolidated Net Income / (Loss)	8.72	14	18	32	41	53	45	52
Depreciation Expense	0.74	0.92	1.27	1.89	3.43	4.53	5.82	6.26
Amortization Expense	0.69	0.84	1.02	2.53	4.41	5.06	5.88	6.99
Non-Cash Adjustments To Reconcile Net Income	0.22	0.30	0.11	0.44	0.98	1.87	3.54	3.66
Changes in Operating Assets and Liabilities, net	-3.56	-5.09	-2.22	-18	-38	-27	-13	-1.57
Net Cash From Investing Activities	-3.09	-2.30	-4.66	-57	-14	-26	-18	-34
Net Cash From Continuing Investing Activities	-3.09	-2.30	-4.66	-57	-14	-26	-18	-34
Purchase of Property, Plant & Equipment	-2.03	-1.57	-1.78	-6.73	-7.94	-6.36	-6.71	-4.01
Acquisitions	-0.39	-0.67	-2.94	-50	-1.62	-1.29	-1.88	-1.55
Purchase of Investments	-0.83	-0.13	-	-	-4.67	-19	-9.86	-28
Sale of Property, Plant & Equipment	0.16	0.07	0.06	0.07	0.07	0.03	0.04	0.05
Net Cash From Financing Activities	-3.10	-1.14	3.51	19	0.60	-7.26	-19	-3.66
Net Cash From Continuing Financing Activities	-3.10	-1.14	3.51	19	0.60	-7.26	-19	-3.66
Repayment of Debt	-3.10	-1.14	-1.70	19	-0.37	-0.09	-0.06	-0.24
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-3.00
Issuance of Debt	0.00	0.00	6.00	-	1.00	-7.00	-19	0.00
Other Financing Activities, net	-	-	0.00	0.00	-0.03	-0.17	-0.19	-0.42
Other Net Changes in Cash	0.60	7.52	-	-	-1.50	3.77	10	30
Cash Interest Paid	0.09	0.02	0.18	0.21	1.31	1.24	1.03	0.09
Cash Income Taxes Paid	2.51	4.08	4.46	7.76	9.90	15	14	13

This table details how cash moves in and out of XPEL's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-7.94	3.46	-6.18	13	2.93	11	3.00	53	30	-27	-12
Net Cash From Operating Activities	11	-1.12	-4.96	27	20	6.33	3.23	28	33	2.67	7.38
Net Cash From Continuing Operating Activities	11	-1.12	-4.96	27	20	6.33	3.23	28	33	2.67	7.38
Net Income / (Loss) Continuing Operations	14	12	6.67	15	15	8.90	8.59	16	13	14	11
Consolidated Net Income / (Loss)	14	12	6.67	15	15	8.90	8.59	16	13	14	11
Depreciation Expense	1.20	1.31	1.33	1.47	1.50	1.51	1.54	1.56	1.64	1.53	1.62
Amortization Expense	1.29	1.40	1.41	1.44	1.48	1.55	1.52	1.54	1.66	2.27	2.06
Non-Cash Adjustments To Reconcile Net Income	0.55	0.52	0.70	0.93	0.95	0.97	0.75	1.13	1.74	0.04	1.27
Changes in Operating Assets and Liabilities, net	-5.56	-16	-15	8.02	0.74	-6.60	-9.17	7.45	15	-15	-8.08
Net Cash From Investing Activities	-1.96	-16	-3.11	-7.48	-2.39	-5.42	-1.56	-1.35	-18	-13	-9.89
Net Cash From Continuing Investing Activities	-1.96	-16	-3.11	-7.48	-2.39	-5.42	-1.56	-1.35	-18	-13	-9.89
Purchase of Property, Plant & Equipment	-1.44	-1.62	-2.02	-1.81	-1.26	-1.63	-1.00	-0.94	-0.99	-1.07	-9.72
Acquisitions	-0.28	-0.49	-0.34	-0.50	-7.10	6.07	-0.51	-0.28	-0.25	-0.51	-0.22
Purchase of Investments	-0.24	-14	-0.76	-5.17	-	-	-0.04	-0.14	-17	-11	0.00
Sale of Property, Plant & Equipment	-0.00	0.01	0.00	-	0.04	-	0.00	0.01	0.02	0.01	0.04
Net Cash From Financing Activities	-13	19	4.99	-13	-11	-0.03	-0.17	-0.09	-0.17	-3.23	-3.57
Net Cash From Continuing Financing Activities	-13	19	4.99	-13	-11	-0.03	-0.17	-0.09	-0.17	-3.23	-3.57
Repayment of Debt	-	-0.02	-0.02	-0.02	-19	19	-0.08	-0.02	-0.02	-0.13	-0.06
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-2.94
Other Financing Activities, net	-0.14	-	0.00	-	-0.09	-0.02	-0.09	-0.07	-0.15	-0.11	-0.57
Other Net Changes in Cash	-3.97	1.73	-3.09	6.31	-	-	1.50	26	15	-14	-6.09
Cash Interest Paid	0.11	0.24	0.43	0.41	0.15	0.03	0.09	-	-	-	0.00
Cash Income Taxes Paid	3.33	4.15	1.15	5.65	3.46	3.36	0.52	6.94	2.67	2.42	1.27

This table presents XPEL's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	31	52	84	161	193	252	286	383
Total Current Assets	21	36	63	79	107	146	168	231
Cash & Equivalents	3.97	12	29	9.64	8.06	12	22	51
Accounts Receivable	5.55	7.15	9.94	13	15	24	29	50
Inventories, net	11	15	22	52	81	107	111	123
Prepaid Expenses	0.71	2.39	1.44	3.67	3.46	3.53	5.31	6.65
Current Deferred & Refundable Income Taxes	0.00	0.09	0.00	0.62	0.00	0.70	0.89	0.58
Plant, Property, & Equipment, net	3.38	4.01	4.71	9.90	14	17	18	16
Total Noncurrent Assets	6.13	11	16	72	72	89	100	136
Goodwill	2.32	2.41	4.47	26	27	37	44	59
Intangible Assets	3.80	3.82	5.42	33	29	35	35	50
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	0.00
Other Noncurrent Operating Assets	0.00	5.08	6.46	14	16	16	21	27
Total Liabilities & Shareholders' Equity	31	52	84	161	193	252	286	383
Total Liabilities	9.93	17	30	77	69	72	60	97
Total Current Liabilities	8.48	12	21	36	27	36	42	71
Short-Term Debt	0.85	0.46	2.57	0.38	0.08	0.06	0.06	0.06
Accounts Payable	6.29	10	17	33	23	32	36	54
Current Deferred & Payable Income Tax Liabilities	1.34	0.00	0.18	0.00	0.47	-	-	0.00
Other Current Liabilities	0.00	1.13	1.65	2.98	3.89	3.97	5.32	17
Total Noncurrent Liabilities	1.45	4.92	9.26	40	41	36	19	26
Noncurrent Deferred & Payable Income Tax Liabilities	0.48	0.60	0.63	2.75	2.05	2.66	0.47	0.12
Other Noncurrent Operating Liabilities	0.00	4.01	5.06	12	13	14	18	26
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	21	35	53	84	125	180	225	285
Total Preferred & Common Equity	21	35	53	84	125	180	225	280
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	21	35	53	84	125	180	225	280
Common Stock	11	11	10	11	11	13	16	18
Retained Earnings	11	25	43	74	116	169	214	265
Treasury Stock	-	-	-	-	-	-	0.00	-3.00
Accumulated Other Comprehensive Income / (Loss)	-1.19	-0.91	0.07	-0.59	-2.20	-1.21	-4.24	-0.14
Noncontrolling Interest	-0.19	-0.17	-	-	-	-	0.00	4.90

This table presents XPEL's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	188	208	217	227	258	262	273	295	318	388	394
Total Current Assets	105	120	126	138	153	148	159	178	197	235	237
Cash & Equivalents	10	8.33	14	10	8.61	15	21	24	50	64	45
Accounts Receivable	18	21	24	24	29	29	30	33	38	37	54
Inventories, net	69	85	83	92	110	98	102	115	104	129	132
Prepaid Expenses	7.07	6.04	4.66	11	5.58	4.64	6.30	6.09	5.47	4.44	7.00
Current Deferred & Refundable Income Taxes	0.00	-	-	-	0.00	1.22	0.26	0.00	0.00	0.00	0.00
Plant, Property, & Equipment, net	13	15	16	16	18	18	18	17	17	16	24
Total Noncurrent Assets	71	72	75	73	88	96	96	99	104	137	133
Goodwill	25	27	29	29	38	43	43	44	47	52	57
Intangible Assets	29	28	31	29	34	33	34	34	32	56	48
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	0.24	1.26	2.12	0.63
Other Noncurrent Operating Assets	16	17	16	15	16	20	20	21	24	26	27
Total Liabilities & Shareholders' Equity	188	208	217	227	258	262	273	295	318	388	394
Total Liabilities	73	71	63	60	72	60	54	59	62	114	102
Total Current Liabilities	32	28	35	47	32	31	37	42	45	84	77
Short-Term Debt	0.14	0.00	0.00	0.00	0.06	0.06	0.07	0.07	0.07	0.07	0.00
Accounts Payable	28	21	31	42	28	26	32	34	39	52	61
Current Deferred & Payable Income Tax Liabilities	0.47	2.83	0.33	0.84	0.20	-	-	2.07	0.21	2.12	1.39
Other Current Liabilities	3.16	4.26	3.87	3.65	3.95	4.72	4.82	5.08	5.40	30	14
Total Noncurrent Liabilities	41	43	28	14	40	29	18	18	18	29	25
Noncurrent Deferred & Payable Income Tax Liabilities	2.50	1.94	1.48	1.21	2.46	1.74	1.25	0.00	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	13	13	13	12	13	16	16	18	18	29	25
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	115	137	153	167	186	202	219	235	256	274	293
Total Preferred & Common Equity	115	137	153	167	186	202	219	235	256	269	288
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	115	137	153	167	186	202	219	235	256	269	288
Common Stock	11	11	12	12	13	14	15	16	17	18	19
Retained Earnings	107	127	143	157	175	190	205	223	239	252	276
Treasury Stock	-	-	-	-	-	-	-	-	-	-	-5.94
Accumulated Other Comprehensive Income / (Loss)	-3.41	-1.90	-1.45	-2.18	-2.07	-2.37	-1.22	-3.41	-0.36	-0.84	-0.94
Noncontrolling Interest	-	-	-	-	-	-	-	-	-0.08	4.58	5.08

This table displays calculated financial ratios and metrics derived from XPEL's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	18.21%	22.31%	63.14%	24.97%	22.32%	6.08%	13.27%
EBITDA Growth	0.00%	43.86%	34.80%	74.19%	38.64%	25.58%	-9.63%	11.41%
EBIT Growth	0.00%	46.33%	35.24%	72.39%	34.30%	26.05%	-14.13%	11.03%
NOPAT Growth	0.00%	57.32%	32.80%	71.38%	33.77%	24.68%	-11.51%	6.47%
Net Income Growth	0.00%	60.47%	30.63%	72.67%	31.09%	27.59%	-13.85%	13.41%
EPS Growth	0.00%	59.38%	29.41%	72.73%	31.58%	27.33%	-13.61%	12.12%
Operating Cash Flow Growth	0.00%	61.33%	68.40%	-1.07%	-34.00%	210.06%	27.93%	39.97%
Free Cash Flow Firm Growth	0.00%	0.00%	47.51%	-403.67%	101.27%	1,688.29%	268.84%	-37.33%
Invested Capital Growth	0.00%	30.87%	26.20%	228.84%	42.36%	31.54%	8.47%	15.08%
Revenue Q/Q Growth	0.00%	0.00%	6.08%	9.05%	2.65%	7.33%	0.48%	3.19%
EBITDA Q/Q Growth	0.00%	0.00%	11.10%	4.47%	5.57%	6.12%	-4.67%	7.44%
EBIT Q/Q Growth	0.00%	0.00%	11.36%	2.16%	5.61%	6.04%	-6.11%	7.77%
NOPAT Q/Q Growth	0.00%	0.00%	8.80%	1.47%	4.88%	6.18%	-3.62%	7.54%
Net Income Q/Q Growth	0.00%	0.00%	8.75%	48.43%	-16.25%	7.34%	-6.33%	10.17%
EPS Q/Q Growth	0.00%	0.00%	8.20%	0.00%	6.38%	7.30%	-6.25%	8.82%
Operating Cash Flow Q/Q Growth	0.00%	35.47%	-5.59%	-25.13%	54.78%	-8.51%	18.43%	-5.18%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-177.48%	102.55%	-66.00%	332.61%	-44.32%
Invested Capital Q/Q Growth	0.00%	0.00%	17.50%	40.89%	9.09%	20.22%	2.82%	11.85%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	30.42%	33.48%	33.99%	35.75%	39.36%	40.98%	42.19%	42.21%
EBITDA Margin	11.89%	14.47%	15.95%	17.03%	18.89%	19.40%	16.53%	16.25%
Operating Margin	10.74%	13.15%	14.71%	15.47%	16.65%	16.90%	14.07%	13.16%
EBIT Margin	10.60%	13.12%	14.51%	15.33%	16.47%	16.98%	13.74%	13.47%
Profit (Net Income) Margin	7.93%	10.77%	11.50%	12.18%	12.77%	13.32%	10.82%	10.83%
Tax Burden Percent	75.96%	82.56%	80.17%	80.04%	79.63%	79.96%	80.12%	80.53%
Interest Burden Percent	98.55%	99.43%	98.92%	99.24%	97.36%	98.15%	98.28%	99.87%
Effective Tax Rate	24.04%	17.44%	19.83%	19.96%	20.37%	20.04%	19.88%	19.47%
Return on Invested Capital (ROIC)	48.57%	66.20%	68.56%	49.11%	35.35%	32.41%	24.21%	23.04%
ROIC Less NNEP Spread (ROIC-NNEP)	60.04%	67.95%	71.25%	64.39%	26.06%	26.57%	51.28%	19.90%
Return on Net Nonoperating Assets (RNNOA)	-6.26%	-15.77%	-27.14%	-3.31%	4.22%	2.25%	-1.77%	-2.83%
Return on Equity (ROE)	42.31%	50.43%	41.42%	45.80%	39.56%	34.66%	22.44%	20.21%
Cash Return on Invested Capital (CROIC)	0.00%	39.46%	45.39%	-57.61%	0.39%	5.17%	16.09%	9.01%
Operating Return on Assets (OROA)	38.14%	41.51%	34.04%	32.46%	30.12%	30.21%	21.49%	19.20%
Return on Assets (ROA)	28.55%	34.07%	27.00%	25.78%	23.35%	23.71%	16.92%	15.44%
Return on Common Equity (ROCE)	42.70%	50.75%	41.50%	45.80%	39.56%	34.66%	22.44%	20.01%
Return on Equity Simple (ROE_SIMPLE)	41.92%	39.92%	34.25%	37.37%	33.18%	29.34%	20.18%	0.00%
Net Operating Profit after Tax (NOPAT)	8.97	14	19	32	43	54	47	50
NOPAT Margin	8.16%	10.86%	11.79%	12.38%	13.26%	13.51%	11.27%	10.59%
Net Nonoperating Expense Percent (NNEP)	-11.47%	-1.76%	-2.69%	-15.28%	9.28%	5.84%	-27.07%	3.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	28.48%	26.86%	20.99%	17.69%
Cost of Revenue to Revenue	69.58%	66.52%	66.01%	64.25%	60.64%	59.02%	57.81%	57.79%
SG&A Expenses to Revenue	13.49%	14.50%	13.16%	13.23%	14.88%	16.06%	17.93%	18.32%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.68%	20.33%	19.29%	20.27%	22.71%	24.08%	28.12%	29.06%
Earnings before Interest and Taxes (EBIT)	12	17	23	40	53	67	58	64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	19	25	44	61	77	69	77
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	11.54	26.67	22.32	13.30	8.27	4.90	4.93
Price to Tangible Book Value (P/TBV)	0.00	14.03	32.74	72.31	24.16	13.82	7.52	8.06
Price to Revenue (P/Rev)	0.00	3.11	8.96	7.27	5.12	3.75	2.63	2.90
Price to Earnings (P/E)	0.00	28.94	77.87	59.73	40.08	28.18	24.28	26.97
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.46%	1.28%	1.67%	2.49%	3.55%	4.12%	3.71%
Enterprise Value to Invested Capital (EV/IC)	0.00	16.29	45.94	18.96	11.75	7.97	5.32	5.70
Enterprise Value to Revenue (EV/Rev)	0.00	3.03	8.81	7.33	5.17	3.77	2.57	2.80
Enterprise Value to EBITDA (EV/EBITDA)	0.00	20.93	55.26	43.06	27.39	19.46	15.58	17.26
Enterprise Value to EBIT (EV/EBIT)	0.00	23.09	60.76	47.84	31.41	22.23	18.74	20.82
Enterprise Value to NOPAT (EV/NOPAT)	0.00	27.90	74.77	59.21	39.04	27.93	22.84	26.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	35.90	75.86	104.07	139.06	40.01	22.63	19.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	46.81	112.93	0.00	3,512.38	175.20	34.38	67.68
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.02	0.12	0.30	0.21	0.11	0.00	0.00
Long-Term Debt to Equity	0.05	0.01	0.07	0.30	0.21	0.11	0.00	0.00
Financial Leverage	-0.10	-0.23	-0.38	-0.05	0.16	0.08	-0.03	-0.14
Leverage Ratio	1.48	1.48	1.53	1.78	1.69	1.46	1.33	1.31
Compound Leverage Factor	1.46	1.47	1.52	1.76	1.65	1.43	1.30	1.31
Debt to Total Capital	8.12%	2.16%	10.31%	23.16%	17.29%	9.72%	0.13%	0.02%
Short-Term Debt to Total Capital	3.80%	1.30%	4.31%	0.34%	0.05%	0.03%	0.03%	0.02%
Long-Term Debt to Total Capital	4.32%	0.86%	6.00%	22.81%	17.24%	9.69%	0.10%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.85%	-0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	1.72%
Common Equity to Total Capital	92.73%	98.32%	89.69%	76.84%	82.71%	90.28%	99.87%	98.26%
Debt to EBITDA	0.14	0.04	0.24	0.58	0.43	0.25	0.00	0.00
Net Debt to EBITDA	-0.16	-0.57	-0.90	0.36	0.29	0.10	-0.31	-0.66
Long-Term Debt to EBITDA	0.07	0.02	0.14	0.57	0.42	0.25	0.00	0.00
Debt to NOPAT	0.20	0.05	0.33	0.79	0.61	0.36	0.01	0.00
Net Debt to NOPAT	-0.24	-0.76	-1.22	0.49	0.42	0.15	-0.46	-1.01
Long-Term Debt to NOPAT	0.11	0.02	0.19	0.78	0.61	0.36	0.00	0.00
Altman Z-Score	0.00	19.37	32.16	18.17	18.42	16.30	14.74	11.79
Noncontrolling Interest Sharing Ratio	-0.92%	-0.65%	-0.19%	0.00%	0.00%	0.00%	0.00%	0.96%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	2.48	3.08	2.96	2.18	3.90	4.02	4.05	3.25
Quick Ratio	1.12	1.58	1.84	0.63	0.83	0.98	1.23	1.42
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	8.41	12	-38	0.48	8.54	31	20
Operating Cash Flow to CapEx	362.49%	730.37%	1,072.98%	274.34%	153.34%	590.86%	716.68%	1,690.35%
Free Cash Flow to Firm to Interest Expense	0.00	87.01	49.82	-124.32	0.34	6.84	31.61	237.73
Operating Cash Flow to Interest Expense	40.36	113.46	74.16	60.29	8.55	29.96	48.02	806.48
Operating Cash Flow Less CapEx to Interest Expense	29.23	97.93	67.25	38.31	2.97	24.89	41.32	758.77
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	3.60	3.16	2.35	2.12	1.83	1.78	1.56	1.43
Accounts Receivable Turnover	19.79	20.45	18.59	22.44	23.24	20.41	15.79	12.06
Inventory Turnover	7.08	6.66	5.59	4.48	2.97	2.50	2.24	2.36
Fixed Asset Turnover	32.48	35.12	36.45	35.51	26.89	25.42	24.22	28.40
Accounts Payable Turnover	12.16	10.48	7.77	6.70	7.03	8.44	7.02	6.09
Days Sales Outstanding (DSO)	18.44	17.85	19.63	16.26	15.71	17.89	23.12	30.27
Days Inventory Outstanding (DIO)	51.54	54.78	65.25	81.40	123.08	145.99	163.26	154.96
Days Payable Outstanding (DPO)	30.03	34.82	46.96	54.46	51.91	43.24	51.99	59.97
Cash Conversion Cycle (CCC)	39.95	37.81	37.92	43.20	86.88	120.63	134.39	125.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	18	24	30	100	143	188	204	234
Invested Capital Turnover	5.95	6.10	5.82	3.97	2.67	2.40	2.15	2.17
Increase / (Decrease) in Invested Capital	0.00	5.70	6.33	70	42	45	16	31
Enterprise Value (EV)	0.00	394	1,401	1,901	1,677	1,496	1,082	1,336
Market Capitalization	0.00	405	1,424	1,885	1,659	1,488	1,104	1,381
Book Value per Share	$0.75	$1.27	$1.93	$3.06	$4.52	$6.51	$8.15	$10.13
Tangible Book Value per Share	$0.53	$1.04	$1.57	$0.94	$2.49	$3.90	$5.31	$6.19
Total Capital	22	36	60	110	151	199	226	285
Total Debt	1.82	0.77	6.14	25	26	19	0.29	0.06
Total Long-Term Debt	0.97	0.31	3.57	25	26	19	0.23	0.00
Net Debt	-2.15	-11	-23	16	18	7.77	-22	-51
Capital Expenditures (CapEx)	1.88	1.50	1.72	6.66	7.86	6.33	6.67	3.96
Debt-free, Cash-free Net Working Capital (DFCFNWC)	9.43	13	15	33	71	98	105	109
Debt-free Net Working Capital (DFNWC)	13	25	44	43	79	110	127	160
Net Working Capital (NWC)	13	24	42	43	79	110	127	160
Net Nonoperating Expense (NNE)	0.25	0.11	0.45	0.54	1.57	0.75	1.90	-1.14
Net Nonoperating Obligations (NNO)	-2.15	-11	-23	16	18	7.77	-22	-51
Total Depreciation and Amortization (D&A)	1.42	1.76	2.30	4.41	7.84	9.59	12	13
Debt-free, Cash-free Net Working Capital to Revenue	8.58%	10.36%	9.51%	12.92%	22.05%	24.84%	24.93%	22.87%
Debt-free Net Working Capital to Revenue	12.19%	19.21%	27.78%	16.64%	24.54%	27.77%	30.18%	33.55%
Net Working Capital to Revenue	11.42%	18.85%	26.16%	16.49%	24.51%	27.75%	30.17%	33.54%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.51	$0.66	$1.14	$1.50	$1.91	$1.65	$1.85
Adjusted Weighted Average Basic Shares Outstanding	0.00	27.61M	27.61M	27.61M	27.61M	27.62M	27.64M	27.66M
Adjusted Diluted Earnings per Share	$0.00	$0.51	$0.66	$1.14	$1.50	$1.91	$1.65	$1.85
Adjusted Weighted Average Diluted Shares Outstanding	0.00	27.61M	27.61M	27.61M	27.62M	27.63M	27.64M	27.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.51	$0.66	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	27.61M	27.61M	27.61M	27.62M	27.63M	27.65M	27.60M
Normalized Net Operating Profit after Tax (NOPAT)	8.97	14	19	32	43	54	47	50
Normalized NOPAT Margin	8.16%	10.86%	11.79%	12.38%	13.26%	13.51%	11.27%	10.59%
Pre Tax Income Margin	10.45%	13.05%	14.35%	15.21%	16.04%	16.66%	13.51%	13.45%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	69.18	176.39	92.59	131.17	37.85	53.91	58.01	772.82
NOPAT to Interest Expense	53.26	145.98	75.24	105.97	30.46	42.91	47.58	607.85
EBIT Less CapEx to Interest Expense	58.05	160.85	85.67	109.19	32.28	48.84	51.31	725.11
NOPAT Less CapEx to Interest Expense	42.12	130.44	68.33	83.99	24.89	37.84	40.88	560.14
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	4.29%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	4.29%	0.00%	0.00%	0.00%	0.00%	5.81%

This table displays calculated financial ratios and metrics derived from XPEL's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	27,604,183.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	27,604,183.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.37
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.39%	34.47%	4.96%	7.51%	9.91%	1.89%	15.21%	13.46%	11.13%	13.71%	13.05%
EBITDA Growth	4.09%	33.56%	-31.47%	-2.69%	10.04%	-19.28%	23.17%	7.37%	-8.08%	37.62%	17.78%
EBIT Growth	1.75%	34.48%	-40.05%	-6.19%	8.64%	-25.17%	26.77%	7.54%	-11.10%	41.33%	17.05%
NOPAT Growth	0.78%	36.42%	-38.76%	-2.87%	4.72%	-15.25%	16.73%	-1.21%	-10.08%	35.79%	21.53%
Net Income Growth	2.54%	43.22%	-41.70%	-4.50%	9.05%	-25.66%	28.80%	7.82%	-11.80%	53.52%	22.35%
EPS Growth	2.08%	41.94%	-41.46%	-5.26%	10.20%	-25.00%	29.17%	9.26%	-12.96%	45.45%	19.35%
Operating Cash Flow Growth	-8.94%	-147.31%	-813.53%	0.82%	75.76%	666.43%	165.09%	3.69%	69.51%	-57.85%	128.59%
Free Cash Flow Firm Growth	75.32%	1.65%	-30.07%	-204.95%	-140.77%	81.88%	96.10%	124.04%	106.43%	-186.62%	-1,571.45%
Invested Capital Growth	19.36%	31.54%	29.24%	30.43%	26.82%	8.47%	4.93%	4.04%	5.79%	15.08%	16.67%
Revenue Q/Q Growth	0.43%	2.79%	-14.62%	21.99%	2.67%	-4.72%	-3.46%	20.14%	0.56%	-2.51%	-4.02%
EBITDA Q/Q Growth	-12.08%	-10.47%	-33.72%	86.53%	-0.58%	-34.33%	1.14%	62.61%	-14.89%	-1.67%	-13.45%
EBIT Q/Q Growth	-14.52%	-13.24%	-40.08%	111.13%	-1.02%	-40.24%	1.50%	79.10%	-18.17%	-4.99%	-15.94%
NOPAT Q/Q Growth	-12.44%	-17.23%	-37.61%	114.78%	-5.59%	-33.02%	-14.06%	81.77%	-14.06%	1.15%	-23.08%
Net Income Q/Q Growth	-13.25%	-12.35%	-44.31%	125.52%	-0.94%	-40.25%	-3.51%	88.77%	-18.96%	4.00%	-23.10%
EPS Q/Q Growth	-14.04%	-10.20%	-45.45%	125.00%	0.00%	-38.89%	-6.06%	90.32%	-20.34%	2.13%	-22.92%
Operating Cash Flow Q/Q Growth	-58.29%	-110.04%	-343.96%	642.39%	-27.28%	-67.65%	-48.98%	763.97%	18.88%	-91.96%	176.68%
Free Cash Flow Firm Q/Q Growth	-12.23%	-195.78%	-15.25%	20.29%	11.39%	77.74%	75.22%	591.75%	-76.30%	-1,092.55%	-44.52%
Invested Capital Q/Q Growth	2.74%	20.22%	7.67%	-1.93%	-0.10%	2.82%	4.16%	-2.76%	1.58%	11.85%	5.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.45%	38.78%	42.04%	43.55%	42.46%	40.64%	42.29%	42.91%	41.80%	41.86%	43.65%
EBITDA Margin	19.20%	16.73%	12.99%	19.86%	19.23%	13.25%	13.88%	18.79%	15.90%	16.04%	14.46%
Operating Margin	17.17%	13.47%	10.24%	17.46%	16.29%	11.48%	10.71%	15.47%	13.36%	12.66%	11.09%
EBIT Margin	16.78%	14.16%	9.94%	17.20%	16.59%	10.40%	10.94%	16.31%	13.27%	12.93%	11.33%
Profit (Net Income) Margin	13.30%	11.34%	7.40%	13.68%	13.20%	8.28%	8.27%	13.00%	10.47%	11.17%	8.95%
Tax Burden Percent	79.65%	81.72%	78.57%	81.18%	79.97%	79.78%	76.12%	79.72%	78.94%	86.40%	79.06%
Interest Burden Percent	99.51%	97.98%	94.72%	97.93%	99.48%	99.70%	99.34%	99.97%	99.99%	100.00%	99.97%
Effective Tax Rate	20.35%	18.28%	21.43%	18.82%	20.03%	20.22%	23.88%	20.28%	21.06%	13.60%	20.94%
Return on Invested Capital (ROIC)	35.18%	26.41%	17.98%	33.03%	30.78%	19.68%	17.09%	27.38%	23.87%	23.78%	18.68%
ROIC Less NNEP Spread (ROIC-NNEP)	21.25%	29.11%	14.67%	54.92%	29.57%	33.24%	13.88%	24.28%	24.08%	22.99%	18.04%
Return on Net Nonoperating Assets (RNNOA)	0.42%	2.46%	1.61%	-0.76%	-2.38%	-1.15%	-0.25%	-2.81%	-4.15%	-3.27%	-2.34%
Return on Equity (ROE)	35.60%	28.87%	19.59%	32.26%	28.40%	18.53%	16.84%	24.57%	19.72%	20.51%	16.34%
Cash Return on Invested Capital (CROIC)	17.49%	5.17%	1.80%	1.29%	4.11%	16.09%	18.64%	19.97%	17.39%	9.01%	7.36%
Operating Return on Assets (OROA)	29.86%	25.21%	17.08%	29.36%	27.77%	16.27%	17.16%	25.25%	18.53%	18.43%	16.09%
Return on Assets (ROA)	23.66%	20.18%	12.71%	23.34%	22.09%	12.94%	12.98%	20.12%	14.63%	15.93%	12.72%
Return on Common Equity (ROCE)	35.60%	28.87%	19.59%	32.26%	28.40%	18.53%	16.84%	24.57%	19.54%	20.32%	16.19%
Return on Equity Simple (ROE_SIMPLE)	29.53%	0.00%	25.77%	23.44%	22.20%	0.00%	20.14%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	14	12	7.25	16	15	9.85	8.46	15	13	13	10
NOPAT Margin	13.67%	11.01%	8.05%	14.17%	13.03%	9.16%	8.15%	12.34%	10.54%	10.94%	8.77%
Net Nonoperating Expense Percent (NNEP)	13.94%	-2.70%	3.31%	-21.89%	1.21%	-13.56%	3.21%	3.10%	-0.21%	0.79%	0.64%
Return On Investment Capital (ROIC_SIMPLE)	-	5.83%	-	-	-	4.36%	3.59%	6.01%	4.83%	4.69%	3.52%
Cost of Revenue to Revenue	59.55%	61.22%	57.96%	56.45%	57.54%	59.36%	57.71%	57.09%	58.20%	58.14%	56.35%
SG&A Expenses to Revenue	15.75%	16.56%	20.26%	16.74%	16.74%	18.46%	20.13%	17.93%	17.45%	18.07%	19.65%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.28%	25.31%	31.79%	26.09%	26.17%	29.16%	31.57%	27.44%	28.44%	29.20%	32.57%
Earnings before Interest and Taxes (EBIT)	17	15	8.96	19	19	11	11	20	17	16	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	20	18	12	22	22	14	14	23	20	20	17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.79	8.27	8.01	4.87	5.48	4.90	3.45	3.88	3.40	4.93	4.25
Price to Tangible Book Value (P/TBV)	19.63	13.82	13.00	7.83	8.46	7.52	5.17	5.62	5.69	8.06	6.73
Price to Revenue (P/Rev)	5.77	3.75	3.73	2.41	2.87	2.63	1.87	2.21	1.98	2.90	2.49
Price to Earnings (P/E)	43.30	28.18	31.07	20.76	24.69	24.28	17.14	20.41	19.59	26.97	23.06
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.31%	3.55%	3.22%	4.82%	4.05%	4.12%	5.84%	4.90%	5.10%	3.71%	4.34%
Enterprise Value to Invested Capital (EV/IC)	13.57	7.97	7.46	4.94	5.95	5.32	3.72	4.58	4.08	5.70	4.78
Enterprise Value to Revenue (EV/Rev)	5.74	3.77	3.77	2.40	2.82	2.57	1.82	2.10	1.85	2.80	2.41
Enterprise Value to EBITDA (EV/EBITDA)	29.26	19.46	21.09	13.81	16.17	15.58	10.93	12.79	11.87	17.26	14.78
Enterprise Value to EBIT (EV/EBIT)	33.41	22.23	24.61	16.30	19.15	18.74	13.11	15.32	14.37	20.82	17.88
Enterprise Value to NOPAT (EV/NOPAT)	42.03	27.93	30.80	20.18	23.96	22.84	16.25	19.50	18.23	26.47	22.61
Enterprise Value to Operating Cash Flow (EV/OCF)	51.87	40.01	47.53	30.64	29.18	22.63	14.09	16.56	12.12	19.95	16.62
Enterprise Value to Free Cash Flow (EV/FCFF)	84.44	175.20	466.71	434.27	161.87	34.38	20.44	23.37	24.14	67.68	69.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.11	0.13	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.11	0.13	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.02	0.08	0.11	-0.01	-0.08	-0.03	-0.02	-0.12	-0.17	-0.14	-0.13
Leverage Ratio	1.47	1.46	1.44	1.35	1.30	1.33	1.31	1.27	1.34	1.31	1.31
Compound Leverage Factor	1.47	1.43	1.37	1.32	1.29	1.32	1.30	1.27	1.34	1.31	1.30
Debt to Total Capital	0.00%	9.72%	11.56%	5.32%	0.15%	0.13%	0.09%	0.08%	0.07%	0.02%	0.00%
Short-Term Debt to Total Capital	0.00%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.00%
Long-Term Debt to Total Capital	0.00%	9.69%	11.53%	5.29%	0.12%	0.10%	0.06%	0.05%	0.04%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.03%	1.67%	1.72%	1.74%
Common Equity to Total Capital	100.00%	90.28%	88.44%	94.68%	99.85%	99.87%	99.91%	99.95%	98.26%	98.26%	98.26%
Debt to EBITDA	0.00	0.25	0.34	0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.10	0.22	-0.05	-0.28	-0.31	-0.32	-0.67	-0.89	-0.66	0.00
Long-Term Debt to EBITDA	0.00	0.25	0.34	0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.36	0.50	0.23	0.01	0.01	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.15	0.32	-0.08	-0.42	-0.46	-0.48	-1.02	-1.37	-1.01	0.00
Long-Term Debt to NOPAT	0.00	0.36	0.50	0.23	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	24.55	15.62	15.60	13.19	16.59	14.20	11.42	12.80	7.53	11.37	10.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.02%	0.93%	0.96%	0.96%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.97	4.02	4.81	4.77	4.35	4.05	4.29	4.42	2.78	3.25	3.07
Quick Ratio	0.74	0.98	1.17	1.43	1.38	1.23	1.37	1.97	1.20	1.42	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-11	-33	-38	-31	-27	-6.05	-1.50	7.38	1.75	-17	-25
Operating Cash Flow to CapEx	773.31%	-69.55%	-245.86%	1,485.20%	1,607.15%	388.64%	322.48%	2,998.82%	3,421.47%	251.60%	76.27%
Free Cash Flow to Firm to Interest Expense	-132.83	-110.58	-81.37	-78.26	-280.25	-178.00	-20.00	1,053.61	1,747.62	0.00	-6,267.05
Operating Cash Flow to Interest Expense	130.92	-3.70	-10.48	68.61	201.64	186.09	43.04	3,984.14	33,154.00	0.00	1,844.75
Operating Cash Flow Less CapEx to Interest Expense	113.99	-9.02	-14.75	63.99	189.09	138.21	29.69	3,851.29	32,185.00	0.00	-574.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.78	1.78	1.72	1.71	1.67	1.56	1.57	1.55	1.40	1.43	1.42
Accounts Receivable Turnover	17.56	20.41	16.05	15.28	15.58	15.79	14.02	13.28	13.89	12.06	11.27
Inventory Turnover	2.68	2.50	2.43	2.66	2.51	2.24	2.22	2.58	2.33	2.36	2.28
Fixed Asset Turnover	26.05	25.42	24.32	24.36	24.95	24.22	24.89	25.74	27.08	28.40	23.68
Accounts Payable Turnover	6.18	8.44	9.81	8.36	6.62	7.02	8.09	7.97	6.39	6.09	5.88
Days Sales Outstanding (DSO)	20.79	17.89	22.75	23.89	23.42	23.12	26.04	27.48	26.29	30.27	32.37
Days Inventory Outstanding (DIO)	136.30	145.99	150.47	137.09	145.25	163.26	164.12	141.67	156.88	154.96	160.12
Days Payable Outstanding (DPO)	59.04	43.24	37.20	43.67	55.16	51.99	45.12	45.79	57.12	59.97	62.09
Cash Conversion Cycle (CCC)	98.05	120.63	136.01	117.31	113.51	134.39	145.04	123.36	126.04	125.26	130.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	156	188	202	198	198	204	212	206	210	234	247
Invested Capital Turnover	2.57	2.40	2.23	2.33	2.36	2.15	2.10	2.22	2.26	2.17	2.13
Increase / (Decrease) in Invested Capital	25	45	46	46	42	16	9.96	8.01	11	31	35
Enterprise Value (EV)	2,120	1,496	1,508	979	1,178	1,082	789	944	855	1,336	1,182
Market Capitalization	2,130	1,488	1,493	983	1,199	1,104	812	993	915	1,381	1,222
Book Value per Share	$6.03	$6.51	$6.75	$7.31	$7.91	$8.15	$8.51	$9.24	$9.73	$10.13	$10.42
Tangible Book Value per Share	$3.93	$3.90	$4.16	$4.54	$5.13	$5.31	$5.69	$6.39	$5.81	$6.19	$6.58
Total Capital	167	199	211	213	219	226	236	256	274	285	293
Total Debt	0.00	19	24	11	0.33	0.29	0.22	0.21	0.19	0.06	0.00
Total Long-Term Debt	0.00	19	24	11	0.26	0.23	0.15	0.14	0.12	0.00	0.00
Net Debt	-10	7.77	16	-3.65	-21	-22	-23	-49	-64	-51	-45
Capital Expenditures (CapEx)	1.44	1.61	2.02	1.81	1.22	1.63	1.00	0.93	0.97	1.06	9.68
Debt-free, Cash-free Net Working Capital (DFCFNWC)	81	98	113	102	101	105	113	103	86	109	115
Debt-free Net Working Capital (DFNWC)	91	110	121	117	122	127	137	153	150	160	160
Net Working Capital (NWC)	91	110	121	117	122	127	137	153	150	160	160
Net Nonoperating Expense (NNE)	0.38	-0.35	0.59	0.54	-0.19	0.95	-0.12	-0.82	0.09	-0.29	-0.22
Net Nonoperating Obligations (NNO)	-10	7.77	16	-3.65	-21	-22	-23	-49	-64	-51	-45
Total Depreciation and Amortization (D&A)	2.49	2.70	2.74	2.91	2.98	3.06	3.06	3.10	3.30	3.80	3.68
Debt-free, Cash-free Net Working Capital to Revenue	21.97%	24.84%	28.10%	24.97%	24.21%	24.93%	26.09%	22.98%	18.58%	22.87%	23.45%
Debt-free Net Working Capital to Revenue	24.78%	27.77%	30.25%	28.65%	29.22%	30.18%	31.51%	34.03%	32.56%	33.55%	32.66%
Net Working Capital to Revenue	24.78%	27.75%	30.24%	28.63%	29.21%	30.17%	31.49%	34.01%	32.55%	33.54%	32.66%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.49	$0.44	$0.24	$0.54	$0.54	$0.33	$0.31	$0.59	$0.47	$0.48	$0.37
Adjusted Weighted Average Basic Shares Outstanding	27.62M	27.62M	27.63M	27.64M	27.64M	27.64M	27.66M	27.67M	27.68M	27.66M	27.59M
Adjusted Diluted Earnings per Share	$0.49	$0.44	$0.24	$0.54	$0.54	$0.33	$0.31	$0.59	$0.47	$0.48	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	27.64M	27.63M	27.64M	27.64M	27.64M	27.64M	27.68M	27.67M	27.70M	27.68M	27.67M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.63M	27.63M	27.63M	27.64M	27.65M	27.65M	27.66M	27.67M	27.68M	27.60M	27.56M
Normalized Net Operating Profit after Tax (NOPAT)	14	12	7.25	16	15	9.85	8.46	15	13	13	10
Normalized NOPAT Margin	13.67%	11.01%	8.05%	14.17%	13.03%	9.16%	8.15%	12.34%	10.54%	10.94%	8.77%
Pre Tax Income Margin	16.70%	13.88%	9.42%	16.85%	16.50%	10.37%	10.87%	16.30%	13.27%	12.93%	11.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	202.72	49.50	18.94	48.24	192.98	329.03	151.40	2,905.29	16,641.00	0.00	3,322.75
NOPAT to Interest Expense	165.18	38.48	15.33	39.73	151.59	289.68	112.86	2,197.89	13,222.62	0.00	2,571.70
EBIT Less CapEx to Interest Expense	185.79	44.18	14.67	43.62	180.43	281.15	138.05	2,772.43	15,672.00	0.00	904.00
NOPAT Less CapEx to Interest Expense	148.26	33.17	11.07	35.11	139.04	241.79	99.51	2,065.03	12,253.62	0.00	152.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.81%	11.10%

Financials Breakdown Chart

Key Financial Trends

XPEL, Inc. (NASDAQ: XPEL) has shown several notable trends across its quarterly statements over the last four years. Below are the key takeaways based on the most recent four years of data provided (through Q4 2025). The bullets are organized with positive items first, then neutral, then negative.

Revenue growth and scale. In Q4 2025, operating revenue reached 122,267,000, up from 107,527,000 in Q4 2024 (roughly 14% year-over-year). The company has generally shown stronger quarterly revenue in 2025 versus 2024, consistent with growth in demand for its products across the period.
Gross margin expansion. Q4 2025 gross profit was 51,182,000 on 122,267,000 in revenue (about 41.8% gross margin), up from Q4 2024 gross profit of 40,931,000 on 107,527,000 revenue (about 38.1% margin). This suggests improved underlying product profitability or a more favorable mix.
Operating income improvement. Q4 2025 operating income was 15,480,000, versus 12,345,000 in Q4 2024, indicating improved operating leverage as revenue grows and cost controls take effect.
Net income and earnings per share (EPS) growth. Q4 2025 net income attributable to common shareholders was 13,410,000 with basic/diluted EPS of 0.48, up from Q4 2024 net income of 8,898,000 and EPS around 0.47. This points to better profitability per share as the top-line and margins expand.
Solid liquidity and cash balance. Cash and equivalents were about 64.5 million by 2025-Q3, and operating cash flow was strong in mid-2025 (OCF of roughly 33.15 million in Q3 2025), contributing to a robust liquidity position.
Low leverage and solid balance sheet stability. Long-term debt remained very small (roughly 0.1–0.2 million across 2025), keeping interest costs minimal and preserving financial flexibility. Total equity also increased (about 273.9 million by 2025-Q3), reflecting retained earnings growth.
Healthy equity growth tied to retained earnings. Total equity rose to about 273.9 million by 2025-Q3, supported by growing retained earnings (around 251.9 million at that date), which enhances the company’s financial resilience.
Strong operating cash flow momentum in 2025. OCF rose through 2025 (Q3 2025: ~33.2 million; Q2 2025: ~27.9 million; Q1 2025: ~3.2 million; Q4 2024: ~6.3 million), indicating improving cash generation as the business scales. This helps fund investing activities and reduces liquidity risk.
Investing activity reflects growth investments (neutral impact on cash health). Net cash used in investing activities has been negative across quarters (Q1 2025: -1.56 million; Q2: -1.35 million; Q3: -17.88 million; Q4: -12.99 million), consistent with capex and strategic investments intended to support growth. While cash outflows are material, they are aligned with growth initiatives rather than ongoing impairment.
Working capital and near-term liquidity risk from inventory levels (caution needed). Inventories were elevated (e.g., 128.7 million in 2025-Q3), representing a substantial portion of current assets. This can exert pressure on liquidity if demand slows or supply chain dynamics shift, warranting continued monitoring.

05/21/26 03:33 PM ETAI Generated. May Contain Errors.

XPEL Financials - Frequently Asked Questions

According to the most recent income statement we have on file, XPEL's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

XPEL's net income appears to be on an upward trend, with a most recent value of $51.59 million in 2025, rising from $8.72 million in 2018. The previous period was $45.49 million in 2024. Check out XPEL's forecast to explore projected trends and price targets.

XPEL's total operating income in 2025 was $62.65 million, based on the following breakdown:

Total Gross Profit: $201.02 million
Total Operating Expenses: $138.37 million

Over the last 7 years, XPEL's total revenue changed from $109.92 million in 2018 to $476.20 million in 2025, a change of 333.2%.

XPEL's total liabilities were at $97.34 million at the end of 2025, a 61.8% increase from 2024, and a 880.3% increase since 2018.

In the past 7 years, XPEL's cash and equivalents has ranged from $3.97 million in 2018 to $50.86 million in 2025, and is currently $50.86 million as of their latest financial filing in 2025.

Over the last 7 years, XPEL's book value per share changed from 0.75 in 2018 to 10.13 in 2025, a change of 1,244.1%.

Related Companies

Financial statements for NASDAQ:XPEL last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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XPEL (XPEL) Financials

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XPEL Financials - Frequently Asked Questions

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XPEL (XPEL) Financials

Annual Income Statements for XPEL

Quarterly Income Statements for XPEL

Annual Cash Flow Statements for XPEL

Quarterly Cash Flow Statements for XPEL

Annual Balance Sheets for XPEL

Quarterly Balance Sheets for XPEL

Annual Metrics And Ratios for XPEL

Quarterly Metrics And Ratios for XPEL

Financials Breakdown Chart

Key Financial Trends

XPEL Financials - Frequently Asked Questions

When does XPEL's financial year end?

How has XPEL's net income changed over the last 7 years?

What is XPEL's operating income?

How has XPEL's revenue changed over the last 7 years?

How much debt does XPEL have?

How much cash does XPEL have?

How has XPEL's book value per share changed over the last 7 years?

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