XChange TEC.INC (XHG) Debt to Equity (2018 - 2025)

XChange TEC.INC (XHG) reported Debt to Equity of -$0.04 for Q3 2025, up 35.85% year-on-year from -$0.03 in Q3 2024, and up 35.85% quarter-over-quarter from -$0.06 in Q3 2024.

XChange TEC.INC (XHG) has 8 years of Debt to Equity data on file, last reported at -$0.04 in Q3 2025.

  • For the quarter ending Q3 2025, Debt to Equity rose 35.85% year-over-year to -$0.04; the trailing twelve-month figure through Sep 2025 stood at -$0.04 (up 35.85% YoY), and the FY2025 full-year result was -$0.04, down 57.28% from the prior year.
  • Debt to Equity for Q3 2025 stood at -$0.04, up from -$0.06 in the prior quarter.
  • Across five years, Debt to Equity topped out at -$0.01 in Q3 2022 and bottomed at -$0.3 in Q3 2021.
  • A 5-year average of -$0.09 and a median of -$0.06 in 2024 frame the typical range for Debt to Equity.
  • Across the five-year window, Debt to Equity jumped 96.13% in 2022 and slumped 504.51% in 2023, its largest moves.
  • Tracing XHG's Debt to Equity over 5 years: stood at -$0.3 in 2021, then jumped by 96.13% to -$0.01 in 2022, then slumped by 504.51% to -$0.07 in 2023, then increased by 16.56% to -$0.06 in 2024, then surged by 35.85% to -$0.04 in 2025.
  • According to Business Quant data, Debt to Equity over the past three periods registered -$0.04, -$0.06, and -$0.07 for Q3 2025, Q3 2024, and Q3 2023 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt/Equity (Qtr)
1 Aon 69.60 Bn 68.21 Bn - 1.47
2 Arthur J. Gallagher 52.64 Bn 51.26 Bn - 0.53
3 Willis Towers Watson 24.45 Bn 22.68 Bn 1.98 Bn 0.78
4 Brown & Brown 19.37 Bn 18.39 Bn 1.61 Bn 0.63
5 XChange TEC.INC 6.95 Bn 6.95 Bn - -0.04
6 Accelerant Holdings 3.83 Bn 2.32 Bn 48.00 Mn -
7 Corvel 3.22 Bn 2.87 Bn 54.92 Mn -
8 Baldwin Insurance 1.84 Bn 2.28 Bn - 2.35
9 Goosehead Insurance 1.01 Bn 899.53 Mn - -2.62
10 Twfg 279.02 Mn 351.22 Mn - 0.01

Historic Data

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DateValue
Sep 30, 2025 -0.04
Sep 30, 2024 -0.06
Sep 30, 2023 -0.07
Sep 30, 2022 -0.01
Sep 30, 2021 -0.30
Sep 30, 2020 -0.10
Sep 30, 2019 -0.19
Sep 30, 2018 -0.21