X Financial (XYF) Gross Margin (2017 - 2026)

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 6.0% from the prior year.
• Gross Margin for Q4 2025 stood at 65.57%, down from 72.71% in the prior quarter.
• The five-year high for Gross Margin was 76.65% in Q2 2025, with the low at 35.89% in Q2 2022.
• The 5-year median for Gross Margin is 58.21% (2021), against an average of 56.69%.
• The sharpest annual moves came in 2021 and 2022: Gross Margin surged 7216 bps in 2021, then tumbled 1475 bps in 2022.
• X Financial's Gross Margin stood at 53.15% in 2021, then slipped by 28 bps to 38.39% in 2022, then dropped by 4 bps to 36.68% in 2023, then soared by 103 bps to 74.31% in 2024, then fell by 12 bps to 65.57% in 2025.
• Business Quant data shows XYF's Gross Margin at 65.57% in Q4 2025, 72.71% in Q3 2025, and 76.65% in Q2 2025.