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| Date | Value |
|---|---|
| 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 |