Xpeng (XPNGF) Gross Margin (2019 - 2026)
Xpeng's (XPNGF) quarterly Gross Margin came in at 20.68% in Q2 2026, up 335.0% year-over-year from 4.75% in Q2 2025, and little changed quarter-over-quarter from 20.58% in Q1 2026.
Analysis
Xpeng (XPNGF) Gross Margin (2019 - 2026) Analysis & Trends
Xpeng (XPNGF) has reported Gross Margin for 8 consecutive years, with 20.68% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 335.0% year-over-year to 20.68% in Q2 2026; TTM through Jun 2026 was 20.7%, a 495.0% increase from a year earlier, with the FY2025 full-year figure at 18.86%, up 456.0% from the prior year.
- Gross Margin was 20.68% for Q2 2026 at Xpeng, roughly flat from 20.58% in the prior quarter.
- Over five years, Gross Margin peaked at 21.31% in Q4 2025 and troughed at 3.9% in Q2 2023.
- A 5-year average of 12.15% and a median of 13.77% in 2022 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin tumbled 1620 bps in 2023 and jumped 1793 bps in 2024, its largest moves.
- Over 5 years, Gross Margin stood at 8.66% in 2022, then slipped by 28 bps to 6.2% in 2023, then jumped by 133 bps to 14.44% in 2024, then surged by 48 bps to 21.31% in 2025, then slipped by 3 bps to 20.68% in 2026.
- The last three Gross Margin figures came in at 20.68% (Q2 2026), 20.58% (Q1 2026), and 21.31% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,191.54 Bn | 1,148.02 Bn | 4.75 Bn | 16.83% |
| 2 | Toyota Motor | 256.51 Bn | 178.52 Bn | 12.27 Bn | 16.11% |
| 3 | Honda Motor | 125.61 Bn | 85.48 Bn | 8.46 Bn | 22.24% |
| 4 | Ford Motor | 79.74 Bn | 48.40 Bn | 6.08 Bn | 12.59% |
| 5 | General Motors | 75.89 Bn | 51.17 Bn | 7.33 Bn | 15.26% |
| 6 | Rivian Automotive | 21.55 Bn | 16.24 Bn | 179.00 Mn | 10.80% |
| 7 | Nio | 8.66 Bn | 2.33 Bn | 870.51 Mn | 18.38% |
| 8 | VinFast Auto | 7.23 Bn | 7.23 Bn | -677,431.76 Bn | -73.58% |
| 9 | Li Auto | 5.98 Bn | -6.51 Bn | 417.98 Mn | 11.05% |
| 10 | Xpeng | 5.26 Bn | 2.95 Bn | 601.83 Mn | 20.68% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.68% |
| Mar 31, 2026 | 20.58% |
| Dec 31, 2025 | 21.31% |
| Sep 30, 2025 | 20.14% |
| Jun 30, 2025 | 17.33% |
| Mar 31, 2025 | 15.56% |
| Dec 31, 2024 | 14.44% |
| Sep 30, 2024 | 15.26% |
| Jun 30, 2024 | 14.00% |
| Mar 31, 2024 | 12.89% |
| Dec 31, 2023 | 6.20% |
| Sep 30, 2023 | -2.67% |
| Jun 30, 2023 | -3.90% |
| Mar 31, 2023 | 1.66% |
| Dec 31, 2022 | 8.66% |
| Sep 30, 2022 | 13.53% |
| Jun 30, 2022 | 10.88% |
| Mar 31, 2022 | 12.22% |
| Dec 31, 2021 | 11.96% |
| Sep 30, 2021 | 14.35% |