Xpeng (XPEV) Operating Margin (2019 - 2026)
Xpeng (XPEV) posted quarterly Operating Margin of 14.38% for Q1 2026, down 779.0% year-over-year from 2.12% in Q1 2025, and down 7132.25% quarter-over-quarter from 0.2% in Q4 2025.
Xpeng (XPEV) Operating Margin (2019 - 2026) Analysis & Trends
Xpeng (XPEV) has reported Operating Margin for 8 consecutive years, with 14.38% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 779.0% year-over-year to 14.38%; the TTM figure through Mar 2026 stood at 4.9% (up 721.0% YoY), while the FY2025 annual figure was 3.61%, up 1268.0% from the prior year.
- Operating Margin eased to 14.38% in Q1 2026 per XPEV's latest filing, from 0.2% in the prior quarter.
- Across five years, Operating Margin topped out at 0.2% in Q4 2025 and bottomed at 64.1% in Q1 2023.
- Historically, Operating Margin has averaged 24.45% across 5 years, with a median of 19.84% in 2024.
- Annual changes were most pronounced in 2023 — Operating Margin tumbled 3834 bps — and 2024, when it surged 4120 bps.
- Xpeng's Operating Margin stood at 48.97% in 2022, then surged by 68 bps to 15.73% in 2023, then soared by 39 bps to 9.66% in 2024, then jumped by 98 bps to 0.2% in 2025, then sank by 7132 bps to 14.38% in 2026.
- Business Quant data shows XPEV's Operating Margin at 14.38% in Q1 2026, 0.2% in Q4 2025, and 3.69% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,039.14 Bn | 995.62 Bn | 4.75 Bn | 1.41% |
| 2 | Toyota Motor | 242.43 Bn | 113.98 Bn | 12.27 Bn | 8.76% |
| 3 | Honda Motor | 123.35 Bn | 89.15 Bn | -34.06 Bn | 5.40% |
| 4 | Ford Motor | 81.49 Bn | 50.16 Bn | 6.08 Bn | 1.32% |
| 5 | General Motors | 79.37 Bn | 54.65 Bn | 7.33 Bn | 3.04% |
| 6 | Li Auto | 25.62 Bn | 12.17 Bn | 262.11 Mn | -13.05% |
| 7 | Xpeng | 22.34 Bn | 19.81 Bn | 388.90 Mn | -14.38% |
| 8 | Rivian Automotive | 20.83 Bn | 15.52 Bn | 179.00 Mn | -50.42% |
| 9 | Stellantis | 16.26 Bn | -25.19 Bn | 5.55 Bn | 1.61% |
| 10 | Nio | 11.40 Bn | 6.81 Bn | 704.43 Mn | 39.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -14.38% |
| Dec 31, 2025 | -0.20% |
| Sep 30, 2025 | -3.69% |
| Jun 30, 2025 | -5.11% |
| Mar 31, 2025 | -6.59% |
| Dec 31, 2024 | -9.66% |
| Sep 30, 2024 | -18.29% |
| Jun 30, 2024 | -19.84% |
| Mar 31, 2024 | -25.14% |
| Dec 31, 2023 | -15.73% |
| Sep 30, 2023 | -37.06% |
| Jun 30, 2023 | -61.04% |
| Mar 31, 2023 | -64.10% |
| Dec 31, 2022 | -48.97% |
| Sep 30, 2022 | -31.90% |
| Jun 30, 2022 | -28.12% |
| Mar 31, 2022 | -25.76% |
| Dec 31, 2021 | -28.40% |
| Sep 30, 2021 | -31.52% |
| Jun 30, 2021 | -38.37% |