XChange TEC.INC (XHG) Notes Payables (2018 - 2025)

XChange TEC.INC (XHG) recorded quarterly Notes Payables of $4.5 million in Q3 2025, down 96.84% on a QoQ basis from $143.9 million in Q1 2025, and down 96.95% year-over-year from $149.0 million in Q3 2024.

XChange TEC.INC (XHG) Notes Payables (2018 - 2025) Analysis & Trends

XChange TEC.INC has disclosed Notes Payables across 8 years of filings, most recently posting $4.5 million for Q3 2025.

  • Quarterly Notes Payables fell 96.95% year-over-year to $4.5 million in Q3 2025, while the trailing twelve-month figure through Sep 2025 was $4.5 million (down 96.95% YoY) and the FY2025 annual result came in at $93.8 million, up 4934.12% from the prior year.
  • Notes Payables retreated to $4.5 million in Q3 2025, from $143.9 million in the prior quarter.
  • Over five years, Notes Payables peaked at $179.1 million in Q1 2024 and troughed at $956738.5 in Q3 2022.
  • A 5-year average of $49.6 million and a median of $4.7 million in 2021 frame the typical range for Notes Payables.
  • Annual changes were most pronounced in 2024 — Notes Payables soared 7709.07% — and 2025, when it sank 96.95%.
  • Tracing XHG's Notes Payables over 5 years: stood at $2.8 million in 2021, then plunged by 65.79% to $956738.5 in 2022, then jumped by 542.04% to $6.1 million in 2023, then soared by 2325.11% to $149.0 million in 2024, then plunged by 96.95% to $4.5 million in 2025.
  • Business Quant data shows XHG's Notes Payables at $4.5 million in Q3 2025, $143.9 million in Q1 2025, and $149.0 million in Q3 2024.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Marsh & Mclennan Companies 79.42 Bn 67.92 Bn 5.88 Bn
2 Aon 69.98 Bn 68.59 Bn -
3 Arthur J. Gallagher 55.55 Bn 54.17 Bn -
4 Willis Towers Watson 24.71 Bn 22.93 Bn 1.98 Bn
5 Brown & Brown 19.80 Bn 18.82 Bn 1.61 Bn
6 XChange TEC.INC 6.75 Bn 6.75 Bn -
7 Neptune Insurance Holdings 4.00 Bn 3.99 Bn -
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 -

Historic Data

Download Data
DateValue
Sep 30, 2025 4.55 Mn
Mar 31, 2025 143.86 Mn
Sep 30, 2024 148.97 Mn
Mar 31, 2024 179.14 Mn
Sep 30, 2023 6.14 Mn
Mar 31, 2023 2.29 Mn
Sep 30, 2022 956,738.53
Mar 31, 2022 2.30 Mn
Sep 30, 2021 2.80 Mn
Mar 31, 2021 4.79 Mn
Sep 30, 2020 25.54 Mn
Mar 31, 2020 63.80 Mn
Sep 30, 2019 107.96 Mn
Sep 30, 2018 162.96 Mn