Companies /Consumer Cyclical

XPeng Inc

NYSE: XPEV Auto Manufacturers
$11.34
▼ $0.37 (−3.16%) today
Markets closed · 5:38pm ET

Q4 2025 Earnings

Reported Mar 20, 2026, 4:05pm ET · SEC source
$0.08
Beat +226.98%
EPS · est. $-0.06
$3.2B
Miss −85.54%
Revenue · est. $22.0B
−13.0%
Trailing market
XPEV vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+2%Mar 20Mar 20report 4:05pm ETearnings+0.7%+0.6%
0+2%Mar 20Mar 20earnings+0.7%+0.6%
XPEV +0.6%S&P 500 +0.7%
0+2%Mar 20Mar 20report 4:05pm ETearnings+0.8%+0.6%
0+2%Mar 20Mar 20earnings+0.8%+0.6%
XPEV +0.6%NASDAQ +0.8%
−4%0+4%+8%Mar 19Mar 27report 4:05pm ETearnings−2.8%−3.2%
−4%0+4%+8%Mar 19Mar 27earnings−2.8%−3.2%
XPEV −3.2%S&P 500 −2.8%
−4%0+4%+8%Mar 19Mar 27report 4:05pm ETearnings−4.2%−3.2%
−4%0+4%+8%Mar 19Mar 27earnings−4.2%−3.2%
XPEV −3.2%NASDAQ −4.2%
−8.36%
Day of report
+7.52%
Next session
−3.53%
One week
−3.30%
30 days

S&P 500 over the same 30 days: +9.66%.

Did XPEV Beat Earnings? Q4 2025 Results

XPENG delivered a landmark Q4 2025, posting its first-ever quarterly net profit of $380 million (GAAP) and earning $0.08 per share on revenue of $3.18 billion, a result that marks a fundamental turning point for the Chinese EV maker after years of losses. The breakthrough was largely powered by the company's services and others segment, which contributed $3.18 billion in revenue, up 121.9% year-over-year, driven by high-margin technology milestone payments widely attributed to Volkswagen, carbon credit trading, and parts sales, pushing segment margins to a striking 70.8%. Gross margin reached a record 21.3%, up 6.9 percentage points year-over-year, reflecting disciplined cost reductions and a richer product mix. <a href="https://247wallst.com/investing/2026/03/20/xpeng-drops-5-is-this-tesla-rivals-autonomous-driving-bet-enough-to-justify-the-risk/">The road ahead carries risk</a>, with Q1 2026 guidance calling for 61,000 to 66,000 deliveries and revenues of $12.20 billion to $13.28 billion, representing year-over-year declines as seasonal softness and shifting market conditions weigh on the near-term outlook.

Key Takeaways
  • Vehicle deliveries increased 27.0% YoY to 116,249 in Q4 2025
  • Record quarterly gross margin of 21.3%, up 6.9 percentage points YoY
  • Ongoing cost reduction and improvement in product mix of models
  • Technical R&D services revenue from car manufacturer upon key milestone achievement
  • Increased carbon credit trading revenue
  • Government subsidies increased significantly (other income up 327.5% YoY)
  • Full year deliveries reached 429,445, up 125.9% YoY

“In 2025, XPENG delivered a total of 429,445 vehicles, representing a 125.9% year-over-year increase. We continue to push the boundaries of Physical AI, accelerating the mass production and commercialization of product innovations as we expand our global footprint.”

XPeng CEO, on the earnings call

Forward Guidance & Outlook

For Q1 2026, XPENG expects vehicle deliveries of 61,000 to 66,000 (a YoY decrease of approximately 29.79% to 35.11%) and total revenues of RMB12.20 billion to RMB13.28 billion (a YoY decrease of approximately 16.01% to 22.84%). The outlook is based on current market conditions and reflects preliminary estimates of market and operating conditions and customer demand.

XPEV YoY Financials

Revenue$3.2B
Gross Profit$678.1M
Operating Income$-6,328,000
Net Income$54.8M

XPEV Revenue by Segment

Vehicle Sales$2.7B+30.0%
Services and Others$455.0M+121.9%

Figures from SEC filings and company reports. Not investment advice.