Added to YB: 2026-08-28
Pitch date: 2026-08-26
XPEV [neutral]
XPeng Inc.
-1.56%
current return
Author Info
LongYield content includes: in-depth company/industry analysis (Business Deepdives), summaries of earnings calls (Earnings Calls Summaries), and analysis of US/European economies (Economic Reports). Sign up for the newsletter.
Company Info
XPeng Inc. designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People’s Republic of China and globally.
Market Cap
$75.3B
Pitch Price
$11.51
Price Target
N/A
Dividend
N/A
EV/EBITDA
-182.00
P/E
-24.07
EV/Sales
0.98
Sector
Automobiles
Category
growth
Xpeng: The volume came back. The profit did not.
XPEV (earnings): Q2 (Jun qtr): deliveries 103,295 (+65% q/q, ~flat y/y) and revenue RMB19.74B (+52% q/q) missed Street's RMB20.57B but sat within guidance; stock -7% to ~$11.40, near 52-wk low. Net loss RMB1.34B, nearly 3x y/y. Soft Q3 delivery guide of 115K-121K implies ~0-4% y/y growth. Key tension: blended GM 20.7% (+3.4pts y/y) but vehicle margin only 12.1% (-2.2pts y/y) — car economics deteriorating, with headline flattered by high-margin non-vehicle income (much VW-linked). Volume recovery skews to cheaper Mona/mainstream models, undercutting premiumization story. R&D +32% y/y to RMB2.91B on autonomy/robots/robotaxi keeps company loss-making. Overseas >20K units (+81% y/y), >25% of H1 revenue. Cash RMB40.48B total liquidity, drifting lower. The single Q4 2025 profit now looks like a window that opened and closed.
Read full article (6 min)