XChange TEC.INC (XHG) Debt to Equity (2018 - 2025)
XChange TEC.INC (XHG) recorded quarterly Debt to Equity of -$0.04 in Q3 2025, up 35.85% on a QoQ basis from -$0.06 in Q3 2024, and up 35.85% year-over-year from -$0.03 in Q3 2024.
XChange TEC.INC (XHG) Debt to Equity (2018 - 2025) Analysis & Trends
XChange TEC.INC has disclosed Debt to Equity across 8 years of filings, most recently posting -$0.04 for Q3 2025.
- Quarterly Debt to Equity rose 35.85% year-over-year to -$0.04 in Q3 2025, while the trailing twelve-month figure through Sep 2025 was -$0.04 (up 35.85% YoY) and the FY2025 annual result came in at -$0.04, down 55.31% from the prior year.
- Debt to Equity rose to -$0.04 in Q3 2025, from -$0.06 in the prior quarter.
- Over five years, Debt to Equity peaked at -$0.01 in Q3 2022 and troughed at -$0.55 in Q1 2021.
- A 5-year average of -$0.18 and a median of -$0.07 in 2023 frame the typical range for Debt to Equity.
- Annual changes were most pronounced in 2022 — Debt to Equity jumped 96.13% — and 2023, when it plunged 504.51%.
- Tracing XHG's Debt to Equity over 5 years: stood at -$0.3 in 2021, then soared by 96.13% to -$0.01 in 2022, then tumbled by 504.51% to -$0.07 in 2023, then grew by 16.56% to -$0.06 in 2024, then jumped by 35.85% to -$0.04 in 2025.
- Business Quant data shows XHG's Debt to Equity at -$0.04 in Q3 2025, -$0.06 in Q3 2024, and -$0.07 in Q3 2023.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 79.42 Bn | 67.92 Bn | 5.88 Bn | 1.39 |
| 2 | Aon | 69.98 Bn | 68.59 Bn | - | 1.47 |
| 3 | Arthur J. Gallagher | 55.55 Bn | 54.17 Bn | - | 0.53 |
| 4 | Willis Towers Watson | 24.71 Bn | 22.93 Bn | 1.98 Bn | 0.78 |
| 5 | Brown & Brown | 19.80 Bn | 18.82 Bn | 1.61 Bn | 0.63 |
| 6 | XChange TEC.INC | 6.75 Bn | 6.75 Bn | - | -0.04 |
| 7 | Neptune Insurance Holdings | 4.00 Bn | 3.99 Bn | - | -1.06 |
| 8 | Corvel | 2.98 Bn | 2.64 Bn | 54.92 Mn | - |
| 9 | Accelerant Holdings | 2.93 Bn | 1.42 Bn | 48.00 Mn | - |
| 10 | Baldwin Insurance | 1.62 Bn | 2.07 Bn | - | 2.35 |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | -0.04 |
| Sep 30, 2024 | -0.06 |
| Sep 30, 2023 | -0.07 |
| Mar 31, 2023 | -0.22 |
| Sep 30, 2022 | -0.01 |
| Sep 30, 2021 | -0.30 |
| Mar 31, 2021 | -0.55 |
| Sep 30, 2020 | -0.10 |
| Mar 31, 2020 | -1.00 |
| Sep 30, 2019 | -0.19 |
| Sep 30, 2018 | -0.21 |