Financials

Financial trajectory

Latest earnings · Q2 2026

Revenue · RMB bn · quarterly

VehiclesServices & otherGuidance

RMB billion, as reported. Vehicle sales, and services and other revenues, as XPeng reports them; the figure on each bar is the total. The bracket beside a quarter's bar is the revenue range XPeng guided for it, at the bar's own rate.

Hover or tap a period for its figures and how they moved. How each figure is derived.

What the abbreviations mean

R&D: research and development.
SG&A: selling, general and administrative expenses — sales, marketing, stores and overheads.
Gross profit: revenue less the cost of what was sold; the gross margin is that as a share of revenue.
Operating result: gross profit less R&D, SG&A and other operating items.
Net result: the operating result after interest, investments, exchange and tax.
Other operating items: what XPeng reports between SG&A and the operating result — other income and fair-value items.
Non-operating items: interest, investment and exchange results, and tax — what sits between the operating and the net result.
Cash position: cash and cash equivalents, restricted cash, time deposits of every maturity and short-term investments, as XPeng defines it. Free cash flow by year is in the annual table.
YoY · QoQ: against the same period a year earlier, and against the quarter before.
pp: percentage points — the difference between two percentages.
ADS: American depositary share, the unit XPEV trades in New York; each is two Class A shares.

Where the money comes from

Revenue

86%vehicles14%services & otherQ2 2026

Gross profit

50%vehicles50%services & otherQ2 2026

In Q2 2026 services carried a 75% margin against 12% on vehicles — that is why 14% of the revenue was 50% of the gross profit. Shares of the quarter's total. Segment gross profit is XPulse arithmetic: services at the margin XPeng states, vehicles as the remainder of the reported gross profit.

Cash

RMB bn

Cash position · RMB bn · quarterly

Cash & equivalentsTime depositsShort-term investmentsRestricted cash

From gross profit to net result

Q2 2026 · from gross profit to net result

Financial history

RMB bn

		Revenue			Margins			Costs		Result			Balance
Period	Deliveries	Total	Vehicle	Services	Vehicle	Services	Gross	R&D	SG&A	Gross	Operating	Net	Cash	Equity
Q2 2026	103,295	19.74	17.05	2.70	12.1%	75.1%	20.7%	2.91	2.50	4.08	−1.14	−1.34	40.5	27.01
Q1 2026	62,682	13.03	11.00	2.03	12.1%	66.5%	20.6%	2.91	1.88	2.68	−1.87	−1.78	42.1	28.46
Q4 2025	116,249	22.25	19.07	3.18	13.0%	70.8%	21.3%	2.87	2.79	4.74	−0.04	+0.38	47.7	30.37
Q3 2025	116,007	20.38	18.05	2.33	13.1%	74.6%	20.1%	2.43	2.49	4.10	−0.75	−0.38	48.3	29.99
Q2 2025	103,181	18.27	16.88	1.39	14.3%	53.6%	17.3%	2.21	2.17	3.17	−0.93	−0.48	47.6	30.34
Q1 2025	94,008	15.81	14.37	1.44	10.5%	66.4%	15.6%	1.98	1.95	2.46	−1.04	−0.66	45.3	30.71
Q4 2024	91,507	16.11	14.67	1.43	10.0%	59.6%	14.4%	2.01	2.28	2.32	−1.56	−1.33	42.0	31.27
Q3 2024	46,533	10.10	8.80	1.31	8.6%	60.1%	15.3%	1.63	1.63	1.54	−1.85	−1.81	35.8	32.03
Q2 2024	30,207	8.11	6.82	1.29	6.4%	54.3%	14.0%	1.47	1.57	1.14	−1.61	−1.28	37.3	34.01
Q1 2024	21,821	6.55	5.54	1.00	5.5%	53.9%	12.9%	1.35	1.39	0.84	−1.65	−1.37	41.4	35.12

		Revenue			Margins			Costs		Result			Balance
Period	Deliveries	Total	Vehicle	Services	Vehicle	Services	Gross	R&D	SG&A	Gross	Operating	Net	Cash	Equity	FCF
H1 2026	165,977	32.78	28.05	4.73	12.1%	71.4%	20.6%	5.82	4.38	6.77	−3.02	−3.12	40.5	27.01	−13.29
2025	429,445	76.72	68.38	8.34	12.8%	68.2%	18.9%	9.49	9.40	14.47	−2.77	−1.14	47.7	30.37	+5.10
2024	190,068	40.87	35.83	5.04	8.3%	57.2%	14.3%	6.46	6.87	5.85	−6.66	−5.79	42.0	31.27	−4.24
2023	141,601	30.68	28.01	2.67	-1.6%	—	1.5%	5.28	6.56	0.45	−10.89	−10.38	45.7	36.33	−1.14
2022	120,757	26.86	24.84	2.02	9.4%	—	11.5%	5.21	6.69	3.09	−8.71	−9.14	38.2	36.91	−12.51
2021	98,155	20.99	20.04	0.95	11.5%	—	12.5%	4.11	5.31	2.62	−6.58	−4.86	43.5	42.15	−3.39

Each period links to the release it came from.