XNETNasdaqServices-Prepackaged Software
Xunlei Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 28, 2026
$4.14−0.07 (-1.66%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 1.2
- Dividend yield
- 0.00%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
47.2%−3.0 pts over 5 years
Operating margin
1.4%+11.5 pts over 5 years
Net margin
227.7%+235.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +42.5% | +10.5% | +19.8% | +16.0% | |
| Gross profit | +29.8% | +15.4% | +18.3% | +17.0% | |
| Operating income | – | -13.0% | – | – | |
| Net income | +86177.0% | +265.5% | – | – | |
| EPS, diluted | +87071.1% | +273.1% | – | – | |
| Free cash flow | +18.2% | -9.1% | – | +11.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -5.7% | -4.7% | 123.9% | |
| Return on assets | -4.6% | -3.3% | 99.6% | |
| Current ratio | 4.41 | 2.93 | 1.92 | |
| Debt to equity | – | – | 0.06 | |
| Interest coverage | -173.6× | -46.3× | 3.9× | |
| Inventory turnover | 187.2× | 25.5× | 293.0× | |
| Capex to revenue | 9.8% | 7.3% | 1.2% | |
| Diluted shares | 334M | 337M | 316M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Xunlei generated $159.76M from operations and spent $45.54M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$159.76M
Used
$45.54M
Capital expenditure$45.54M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin227.7%
×Asset turnover0.44×
×Equity multiplier1.24×
=Return on equity, FY2025123.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 227.7% | 0.44× | 1.24× | 123.9% |
| FY2024 | 0.4% | 0.69× | 1.47× | 0.4% |
| FY2023 | 3.9% | 0.78× | 1.47× | 4.5% |
| FY2022 | 6.3% | 0.76× | 1.47× | 7.0% |
| FY2021 | 0.5% | 0.56× | 1.44× | 0.4% |
| FY2020 | -7.4% | 0.44× | 1.43× | -4.7% |
| FY2019 | -29.4% | 0.41× | 1.37× | -16.6% |
| FY2018 | -17.0% | 0.47× | 1.35× | -10.8% |
| FY2017 | -18.9% | 0.38× | 1.32× | -9.5% |
| FY2016 | -17.2% | 0.27× | 1.23× | -5.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.05B
- Cash generatingOperating cash flow above zero$32.48M
- Return on assets improvedROA up on the prior year0.3% → 221.2%
- Earnings backed by cashOperating cash flow above net income$32.48M vs $1.05B
- Less leverageLong-term debt to assets fell5.7% → 2.4%
- Better liquidityCurrent ratio rose2.86 → 1.92
- No dilutionShare count did not rise319M → 316M
- Gross margin improvedGross margin up on the prior year51.86% → 47.25%
- More efficientAsset turnover rose0.69 → 0.97