X Financial (XYF) Operating Margin (2017 - 2025)

X Financial's Operating Margin history runs 9 years deep, the most recent figure standing at 1.37% for Q4 2025.

• In Q4 2025, Operating Margin fell 2936.0% year-over-year to 1.37%; the TTM figure through Dec 2025 stood at 21.21% (down 1070.0% YoY), while the FY2025 annual figure was 21.34%, down 1057.0% from the prior year.
• Operating Margin was 1.37% for Q4 2025 at X Financial, down from 18.46% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 42.57% in Q3 2021 to a low of 1.37% in Q4 2025.
• Historically, Operating Margin has averaged 29.57% across 5 years, with a median of 30.93% in 2023.
• Biggest YoY gain for Operating Margin was 2445 bps in 2021; the steepest drop was 8185 bps in 2021.
• A 5-year view of Operating Margin shows it stood at 37.84% in 2021, then decreased by 24 bps to 28.67% in 2022, then declined by 26 bps to 21.31% in 2023, then jumped by 44 bps to 30.74% in 2024, then tumbled by 96 bps to 1.37% in 2025.
• The last three Operating Margin figures came in at 1.37% (Q4 2025), 18.46% (Q3 2025), and 29.7% (Q2 2025), per Business Quant data.