XChange TEC.INC (XHG) Invested Capital (2017 - 2025)

XChange TEC.INC (XHG) recorded quarterly Invested Capital of -$118.4 million in Q3 2025, down 2511.26% on a QoQ basis from $4.9 million in Q1 2025, and down 61.82% year-over-year from -$310.2 million in Q3 2024.

XChange TEC.INC (XHG) Invested Capital (2017 - 2025) Analysis & Trends

XChange TEC.INC has disclosed Invested Capital across 9 years of filings, most recently posting -$118.4 million for Q3 2025.

  • Quarterly Invested Capital fell 61.82% year-over-year to -$118.4 million in Q3 2025, while the trailing twelve-month figure through Sep 2025 was -$118.4 million (down 61.82% YoY) and the FY2025 annual result came in at -$117.6 million, down 51.81% from the prior year.
  • Invested Capital slipped to -$118.4 million in Q3 2025, from $4.9 million in the prior quarter.
  • Over five years, Invested Capital peaked at $118.0 million in Q1 2022 and troughed at -$382.5 million in Q3 2021.
  • A 5-year average of -$89.9 million and a median of -$78.0 million in 2022 frame the typical range for Invested Capital.
  • Annual changes were most pronounced in 2021 — Invested Capital sank 226.02% — and 2022, when it jumped 153.47%.
  • Tracing XHG's Invested Capital over 5 years: stood at -$382.5 million in 2021, then jumped by 78.36% to -$82.8 million in 2022, then slipped by 0.02% to -$82.8 million in 2023, then advanced by 11.62% to -$73.2 million in 2024, then tumbled by 61.82% to -$118.4 million in 2025.
  • Business Quant data shows XHG's Invested Capital at -$118.4 million in Q3 2025, $4.9 million in Q1 2025, and -$73.2 million in Q3 2024.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Invested Cap. (Qtr)
1 Marsh & Mclennan Companies 79.42 Bn 67.92 Bn 5.88 Bn 34.36 Bn
2 Aon 69.98 Bn 68.59 Bn - 11.08 Bn
3 Arthur J. Gallagher 55.55 Bn 54.17 Bn - 24.42 Bn
4 Willis Towers Watson 24.71 Bn 22.93 Bn 1.98 Bn 8.06 Bn
5 Brown & Brown 19.80 Bn 18.82 Bn 1.61 Bn 13.85 Bn
6 XChange TEC.INC 6.75 Bn 6.75 Bn - -118.43 Mn
7 Neptune Insurance Holdings 4.00 Bn 3.99 Bn - -213.36 Mn
8 Corvel 2.98 Bn 2.64 Bn 54.92 Mn 375.72 Mn
9 Accelerant Holdings 2.93 Bn 1.42 Bn 48.00 Mn 813.30 Mn
10 Baldwin Insurance 1.62 Bn 2.07 Bn - 1.08 Bn

Historic Data

Download Data
DateValue
Sep 30, 2025 -118.43 Mn
Mar 31, 2025 4.91 Mn
Sep 30, 2024 -73.18 Mn
Mar 31, 2024 7.54 Mn
Sep 30, 2023 -82.81 Mn
Mar 31, 2023 -69.15 Mn
Sep 30, 2022 -82.80 Mn
Mar 31, 2022 118.01 Mn
Sep 30, 2021 -382.52 Mn
Mar 31, 2021 -220.69 Mn
Sep 30, 2020 -280.93 Mn
Mar 31, 2020 -67.69 Mn
Sep 30, 2019 -317.17 Mn
Sep 30, 2018 -189.88 Mn
Sep 30, 2017 -119.13 Mn