X Financial (XYF) Gross Margin (2017 - 2025)
X Financial (XYF) recorded quarterly Gross Margin of 65.57% in Q4 2025, down 9.82% quarter-over-quarter from 72.71% in Q3 2025, and down 874.0% on a YoY basis from 8.47% in Q4 2024.
X Financial (XYF) Gross Margin (2017 - 2025) Analysis & Trends
X Financial's Gross Margin history runs 9 years deep, the most recent figure standing at 65.57% for Q4 2025.
- In Q4 2025, Gross Margin fell 874.0% year-over-year to 65.57%; the TTM figure through Dec 2025 stood at 73.15% (up 276.0% YoY), while the FY2025 annual figure was 71.57%, up 117.0% from the prior year.
- Gross Margin was 65.57% for Q4 2025 at X Financial, down from 72.71% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 76.65% in Q2 2025 to a low of 35.33% in Q2 2022.
- Historically, Gross Margin has averaged 55.36% across 5 years, with a median of 51.49% in 2021.
- The sharpest annual moves came in 2021 and 2022: Gross Margin jumped 7614 bps in 2021, then plunged 1475 bps in 2022.
- A 5-year view of Gross Margin shows it stood at 53.15% in 2021, then dropped by 28 bps to 38.39% in 2022, then declined by 4 bps to 36.68% in 2023, then jumped by 103 bps to 74.31% in 2024, then retreated by 12 bps to 65.57% in 2025.
- The last three Gross Margin figures came in at 65.57% (Q4 2025), 72.71% (Q3 2025), and 76.65% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 541.66 Bn | 529.25 Bn | - | - |
| 2 | Mastercard | 437.55 Bn | 427.34 Bn | - | - |
| 3 | American Express | 212.80 Bn | 158.76 Bn | 17.43 Bn | 92.17% |
| 4 | Capital One Financial | 112.47 Bn | 35.97 Bn | - | - |
| 5 | PayPal Holdings | 37.70 Bn | 28.36 Bn | 7.84 Bn | 93.80% |
| 6 | Synchrony Financial | 24.26 Bn | 3.70 Bn | - | - |
| 7 | Affirm Holdings | 21.24 Bn | 19.51 Bn | 261.64 Mn | 78.22% |
| 8 | SoFi Technologies | 20.46 Bn | 17.06 Bn | 929.25 Mn | 84.45% |
| 9 | Ally Financial | 13.30 Bn | 12.86 Bn | 1.98 Bn | 94.24% |
| 10 | X Financial | 162.02 Mn | 22.77 Mn | 137.63 Mn | 65.57% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 65.57% |
| Sep 30, 2025 | 72.71% |
| Jun 30, 2025 | 76.65% |
| Mar 31, 2025 | 75.42% |
| Dec 31, 2024 | 74.31% |
| Sep 30, 2024 | 71.09% |
| Jun 30, 2024 | 69.76% |
| Mar 31, 2024 | 64.69% |
| Dec 31, 2023 | 36.68% |
| Sep 30, 2023 | 71.77% |
| Jun 30, 2023 | 45.12% |
| Mar 31, 2023 | 36.93% |
| Dec 31, 2022 | 38.39% |
| Sep 30, 2022 | 41.17% |
| Jun 30, 2022 | 35.33% |
| Mar 31, 2022 | 47.71% |
| Dec 31, 2021 | 53.15% |
| Sep 30, 2021 | 49.83% |
| Jun 30, 2021 | 44.13% |
| Mar 31, 2021 | 36.83% |