XPELNasdaqCoating, Engraving & Allied ServicesFiscal year ends December 31
XPEL, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$44.13+0.32 (+0.73%)
Close on Oct 19, 2026
- Market cap
- $1.22B
- P/E (TTM)
- 22.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
42.2%+8.2 pts over 5 years
Operating margin
13.2%−1.5 pts over 5 years
Net margin
10.8%−0.7 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 | +13.3% | +13.7% | +24.5% | – | |
| Gross profit | +13.3% | +16.4% | +30.1% | – | |
| Operating income | +5.9% | +5.1% | +21.8% | – | |
| Net income | +12.6% | +7.4% | +22.9% | – | |
| EPS, diluted | +12.1% | +7.2% | +22.9% | – | |
| Free cash flow | +53.1% | +148.1% | +30.4% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 41.3% | 20.3% | |
| Return on assets | – | 27.0% | 15.3% | |
| Current ratio | – | 2.96 | 3.25 | |
| Debt to equity | – | 0.07 | 0.00 | |
| Interest coverage | – | 93.9× | 754.8× | |
| Inventory turnover | – | 5.6× | 2.4× | |
| Capex to revenue | – | 1.1% | 0.8% | |
| Diluted shares | – | 28M | 28M |
Where the cash went
Fiscal 2021 to 2025, five years combined
XPEL generated $182.47M from operations and spent $34.74M on capital expenditure, dividends and share buybacks. 91% of that went back into the business.
Generated
$182.47M
Used
$34.74M
Capital expenditure$31.74M91%Dividends$00%Share buybacks$3.00M9%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.8%
×Asset turnover1.43×
×Equity multiplier1.32×
=Return on equity, FY202520.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.8% | 1.43× | 1.32× | 20.3% |
| FY2024 | 10.8% | 1.56× | 1.33× | 22.4% |
| FY2023 | 13.3% | 1.78× | 1.46× | 34.7% |
| FY2022 | 12.8% | 1.83× | 1.69× | 39.6% |
| FY2021 | 12.2% | 2.12× | 1.78× | 45.8% |
| FY2020 | 11.5% | 2.35× | 1.53× | 41.3% |
| FY2019 | 10.8% | 3.16× | 1.47× | 50.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$51.23M
- Cash generatingOperating cash flow above zero$66.94M
- Return on assets improvedROA up on the prior year18.0% → 17.9%
- Earnings backed by cashOperating cash flow above net income$66.94M vs $51.23M
- Less leverageLong-term debt to assets fell0.1% → 0.0%
- Better liquidityCurrent ratio rose4.05 → 3.25
- No dilutionShare count did not rise28M → 28M
- Gross margin improvedGross margin up on the prior year42.19% → 42.21%
- More efficientAsset turnover rose1.67 → 1.67