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XCel Brands, Inc.

XELB Clue Score23
United States Fiscal year ends December CIK 0001083220
$0.60 -6.25% Close, 9 Oct 2026
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Price $0.60 −54.20% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue32.7Operating income4.9Net income2.7EPS, diluted0.14Fiscal year 2017Revenue31.7 −3.0%Operating income−9.2Net income−10.1 −469.8%EPS, diluted−0.55Fiscal year 2018Revenue35.5 +11.9%Operating income3.9Net income1.1EPS, diluted0.06Fiscal year 2019Revenue41.7 +17.7%Operating income−2.6Net income−3.4 −414.9%EPS, diluted−0.18Fiscal year 2020Revenue29.4 −29.4%Operating income−16.4Net income−12.9EPS, diluted−0.68Fiscal year 2021Revenue37.9 +28.8%Operating income−12.6Net income−12.2EPS, diluted−0.63Fiscal year 2022Revenue25.8 −32.0%Operating income−2.3Net income−4.0EPS, diluted−0.20Fiscal year 2023Revenue17.8 −31.1%Operating income−20.6Net income−21.1EPS, diluted−10.68Fiscal year 2024Revenue8.3 −53.5%Operating income−21.4Net income−22.4EPS, diluted−9.84Fiscal year 2025Revenue4.9 −40.2%Operating income−13.2Net income−17.5EPS, diluted−5.08
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 32.7 31.7 35.5 41.7 29.4 37.9 25.8 17.8 8.3 4.9
Growth −3.0% +11.9% +17.7% −29.4% +28.8% −32.0% −31.1% −53.5% −40.2%
Operating income 4.9 −9.2 3.9 −2.6 −16.4 −12.6 −2.3 −20.6 −21.4 −13.2
Net income 2.7 −10.1 1.1 −3.4 −12.9 −12.2 −4.0 −21.1 −22.4 −17.5
Growth −469.8% −414.9%
EPS, diluted 0.14 −0.55 0.06 −0.18 −0.68 −0.63 −0.20 −10.68 −9.84 −5.08

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin99.6%Operating margin14.9%Net margin8.4%Free cash flow margin17.6%Fiscal year 2017Gross margin100.0%Operating margin−29.1%Net margin−31.9%Free cash flow margin14.1%Fiscal year 2018Gross margin92.4%Operating margin11.1%Net margin3.1%Free cash flow margin14.4%Fiscal year 2019Gross margin75.4%Operating margin−6.3%Net margin−8.2%Free cash flow margin5.7%Fiscal year 2020Gross margin81.5%Operating margin−55.7%Net margin−43.9%Free cash flow margin8.3%Fiscal year 2021Gross margin71.9%Operating margin−33.1%Net margin−32.1%Free cash flow margin−20.2%Fiscal year 2022Gross margin69.0%Operating margin−8.8%Net margin−15.6%Free cash flow margin−56.0%Fiscal year 2023Gross margin61.0%Operating margin−116.3%Net margin−118.6%Free cash flow margin−37.4%Fiscal year 2024Gross margin94.6%Operating margin−259.2%Net margin−271.2%Free cash flow margin−58.5%Fiscal year 2025Gross margin100.0%Operating margin−267.9%Net margin−353.5%Free cash flow margin−142.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 99.6% 100.0% 92.4% 75.4% 81.5% 71.9% 69.0% 61.0% 94.6% 100.0%
Operating margin 14.9% −29.1% 11.1% −6.3% −55.7% −33.1% −8.8% −116.3% −259.2% −267.9%
Net margin 8.4% −31.9% 3.1% −8.2% −43.9% −32.1% −15.6% −118.6% −271.2% −353.5%
Free cash flow margin 17.6% 14.1% 14.4% 5.7% 8.3% −20.2% −56.0% −37.4% −58.5% −142.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow7.9Capital expenditure−2.2Free cash flow5.8Buybacks−1.4Fiscal year 2017Operating cash flow4.7Capital expenditure−0.2Free cash flow4.5 −22.4%Buybacks−1.2Fiscal year 2018Operating cash flow6.6Capital expenditure−1.5Free cash flow5.1 +14.5%Buybacks−1.0Fiscal year 2019Operating cash flow3.5Capital expenditure−1.1Free cash flow2.4 −53.7%Buybacks−0.2Fiscal year 2020Operating cash flow3.2Capital expenditure−0.7Free cash flow2.4 +3.0%Buybacks−0.2Fiscal year 2021Operating cash flow−6.6Capital expenditure−1.1Free cash flow−7.7 −414.0%Buybacks−0.0Fiscal year 2022Operating cash flow−14.2Capital expenditure−0.3Free cash flow−14.4Buybacks−0.4Fiscal year 2023Operating cash flow−6.5Capital expenditure−0.1Free cash flow−6.6Fiscal year 2024Operating cash flow−4.7Capital expenditure−0.1Free cash flow−4.8Buybacks−0.1Fiscal year 2025Operating cash flow−7.0Capital expenditure−0.0Free cash flow−7.0Buybacks−0.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 7.9 4.7 6.6 3.5 3.2 −6.6 −14.2 −6.5 −4.7 −7.0
Capital expenditure −2.2 −0.2 −1.5 −1.1 −0.7 −1.1 −0.3 −0.1 −0.1 −0.0
Free cash flow 5.8 4.5 5.1 2.4 2.4 −7.7 −14.4 −6.6 −4.8 −7.0
Growth −22.4% +14.5% −53.7% +3.0% −414.0%
Buybacks −1.4 −1.2 −1.0 −0.2 −0.2 −0.0 −0.4 n/a −0.1 −0.2

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash14.1Total debt31.9Net cash (debt)−17.8Shareholders’ equity106.2Debt to equity0.30Fiscal year 2017Cash10.2Total debt24.8Net cash (debt)−14.7Shareholders’ equity97.7Debt to equity0.25Fiscal year 2018Cash8.8Total debt16.6Net cash (debt)−7.8Shareholders’ equity99.9Debt to equity0.17Fiscal year 2019Cash4.6Total debt18.8Net cash (debt)−14.2Shareholders’ equity98.1Debt to equity0.19Fiscal year 2020Cash5.0Total debt16.6Net cash (debt)−11.7Shareholders’ equity85.7Debt to equity0.19Fiscal year 2021Cash4.5Total debt28.0Net cash (debt)−23.5Shareholders’ equity74.3Debt to equity0.38Fiscal year 2022Cash4.6Shareholders’ equity70.8Fiscal year 2023Cash3.0Total debt4.7Net cash (debt)−1.7Shareholders’ equity50.0Debt to equity0.09Fiscal year 2024Cash1.3Total debt6.6Net cash (debt)−5.3Shareholders’ equity30.4Debt to equity0.22Fiscal year 2025Cash1.2Total debt12.7Net cash (debt)−11.6Shareholders’ equity18.0Debt to equity0.71
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 14.1 10.2 8.8 4.6 5.0 4.5 4.6 3.0 1.3 1.2
Total debt 31.9 24.8 16.6 18.8 16.6 28.0 n/a 4.7 6.6 12.7
Net cash (debt) −17.8 −14.7 −7.8 −14.2 −11.7 −23.5 n/a −1.7 −5.3 −11.6
Shareholders’ equity 106.2 97.7 99.9 98.1 85.7 74.3 70.8 50.0 30.4 18.0
Debt to equity 0.30 0.25 0.17 0.19 0.19 0.38 n/a 0.09 0.22 0.71

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
99.6% 100.0% 92.4% 75.4% 81.5% 71.9% 69.0% 61.0% 94.6% 100.0%
14.9% −29.1% 11.1% −6.3% −55.7% −33.1% −8.8% −116.3% −259.2% −267.9%
9.2% −33.3% 8.2% −9.8% −59.8% −42.5% −22.4% −118.4% −270.5% −354.3%
8.4% −31.9% 3.1% −8.2% −43.9% −32.1% −15.6% −118.6% −271.2% −353.5%
17.6% 14.1% 14.4% 5.7% 8.3% −20.2% −56.0% −37.4% −58.5% −142.4%
Spending
17.4% 14.8% 14.7% 13.3% 33.1% 37.9% 63.1% 74.7% 82.8% 94.1%
6.6% 0.7% 4.2% 2.7% 2.5% 2.9% 1.0% 0.6% 1.4% 0.2%
10.4% n/a 62.7% n/a n/a n/a n/a n/a n/a n/a
Returns
2.6% −10.4% 1.1% −3.5% −15.1% −16.4% −5.7% −42.1% −73.6% −97.2%
1.8% −7.5% 0.8% −2.4% −10.5% −9.7% −4.5% −29.4% −41.7% −44.8%
Balance and payout
0.30 0.25 0.17 0.19 0.19 0.38 n/a 0.09 0.22 0.71
29.7% 27.6% 27.7% 31.2% 29.9% 40.4% 21.1% 32.8% 47.2% 59.4%
24.8% 26.8% 20.2% 7.4% 7.8% n/a n/a n/a n/a n/a