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Stocks · Industrials · Coating, Engraving & Allied Services

XPEL, Inc.

XPEL Clue Score74
United States Fiscal year ends December CIK 0001767258
$44.43 -1.09% Close, 9 Oct 2026
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Price $44.43 −38.79% 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 2018Revenue109.9Operating income11.8Net income8.7Fiscal year 2019Revenue129.9 +18.2%Operating income17.1Net income14.0 +60.4%EPS, diluted0.51Fiscal year 2020Revenue158.9 +22.3%Operating income23.4Net income18.3 +30.8%EPS, diluted0.66 +29.4%Fiscal year 2021Revenue259.3 +63.1%Operating income40.1Net income31.6 +72.7%EPS, diluted1.14 +72.7%Fiscal year 2022Revenue324.0 +25.0%Operating income53.9Net income41.4 +31.1%EPS, diluted1.50 +31.6%Fiscal year 2023Revenue396.3 +22.3%Operating income67.0Net income52.8 +27.6%EPS, diluted1.91 +27.3%Fiscal year 2024Revenue420.4 +6.1%Operating income59.1Net income45.5 −13.8%EPS, diluted1.65 −13.6%Fiscal year 2025Revenue476.2 +13.3%Operating income62.6Net income51.2 +12.6%EPS, diluted1.85 +12.1%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 109.9 129.9 158.9 259.3 324.0 396.3 420.4 476.2
Growth +18.2% +22.3% +63.1% +25.0% +22.3% +6.1% +13.3%
Operating income 11.8 17.1 23.4 40.1 53.9 67.0 59.1 62.6
Net income 8.7 14.0 18.3 31.6 41.4 52.8 45.5 51.2
Growth +60.4% +30.8% +72.7% +31.1% +27.6% −13.8% +12.6%
EPS, diluted n/a 0.51 0.66 1.14 1.50 1.91 1.65 1.85
Growth +29.4% +72.7% +31.6% +27.3% −13.6% +12.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin30.4%Operating margin10.7%Net margin7.9%Free cash flow margin4.3%Fiscal year 2019Gross margin33.5%Operating margin13.2%Net margin10.8%Free cash flow margin7.2%Fiscal year 2020Gross margin34.0%Operating margin14.7%Net margin11.5%Free cash flow margin10.5%Fiscal year 2021Gross margin35.7%Operating margin15.5%Net margin12.2%Free cash flow margin4.5%Fiscal year 2022Gross margin39.4%Operating margin16.6%Net margin12.8%Free cash flow margin1.3%Fiscal year 2023Gross margin41.0%Operating margin16.9%Net margin13.3%Free cash flow margin7.8%Fiscal year 2024Gross margin42.2%Operating margin14.1%Net margin10.8%Free cash flow margin9.8%Fiscal year 2025Gross margin42.2%Operating margin13.2%Net margin10.8%Free cash flow margin13.2%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 30.4% 33.5% 34.0% 35.7% 39.4% 41.0% 42.2% 42.2%
Operating margin 10.7% 13.2% 14.7% 15.5% 16.6% 16.9% 14.1% 13.2%
Net margin 7.9% 10.8% 11.5% 12.2% 12.8% 13.3% 10.8% 10.8%
Free cash flow margin 4.3% 7.2% 10.5% 4.5% 1.3% 7.8% 9.8% 13.2%

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 2018Operating cash flow6.8Capital expenditure−2.0Free cash flow4.8Fiscal year 2019Operating cash flow11.0Capital expenditure−1.6Free cash flow9.4 +97.1%Fiscal year 2020Operating cash flow18.5Capital expenditure−1.8Free cash flow16.7 +77.6%Fiscal year 2021Operating cash flow18.3Capital expenditure−6.7Free cash flow11.5 −30.8%Fiscal year 2022Operating cash flow12.1Capital expenditure−7.9Free cash flow4.1 −64.3%Fiscal year 2023Operating cash flow37.4Capital expenditure−6.4Free cash flow31.0 +652.9%Buybacks0.0Fiscal year 2024Operating cash flow47.8Capital expenditure−6.7Free cash flow41.1 +32.5%Buybacks0.0Fiscal year 2025Operating cash flow66.9Capital expenditure−4.0Free cash flow62.9 +53.1%Buybacks−3.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 6.8 11.0 18.5 18.3 12.1 37.4 47.8 66.9
Capital expenditure −2.0 −1.6 −1.8 −6.7 −7.9 −6.4 −6.7 −4.0
Free cash flow 4.8 9.4 16.7 11.5 4.1 31.0 41.1 62.9
Growth +97.1% +77.6% −30.8% −64.3% +652.9% +32.5% +53.1%
Buybacks n/a n/a n/a n/a n/a 0.0 0.0 −3.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash4.0Shareholders’ equity20.8Fiscal year 2019Cash11.5Total debt0.8Net cash (debt)10.7Shareholders’ equity35.1Debt to equity0.02Fiscal year 2020Cash29.0Total debt6.5Net cash (debt)22.5Shareholders’ equity53.4Debt to equity0.12Fiscal year 2021Cash9.6Total debt0.5Net cash (debt)9.2Shareholders’ equity84.5Debt to equity0.01Fiscal year 2022Cash8.1Shareholders’ equity124.7Fiscal year 2023Cash11.6Shareholders’ equity180.0Fiscal year 2024Cash22.1Shareholders’ equity225.5Fiscal year 2025Cash50.9Total debt0.0Net cash (debt)50.9Shareholders’ equity280.3Debt to equity0.00
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.0 11.5 29.0 9.6 8.1 11.6 22.1 50.9
Total debt n/a 0.8 6.5 0.5 n/a n/a n/a 0.0
Net cash (debt) n/a 10.7 22.5 9.2 n/a n/a n/a 50.9
Shareholders’ equity 20.8 35.1 53.4 84.5 124.7 180.0 225.5 280.3
Debt to equity n/a 0.02 0.12 0.01 n/a n/a n/a 0.00

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

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year 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
Revenue and profit
109.9 129.9 158.9 259.3 324.0 396.3 420.4 476.2
Growth +18.2% +22.3% +63.1% +25.0% +22.3% +6.1% +13.3%
76.5 86.4 104.9 166.6 196.5 233.9 243.0 275.2
33.4 43.5 54.0 92.7 127.5 162.4 177.4 201.0
Growth +30.1% +24.2% +71.5% +37.6% +27.4% +9.2% +13.3%
0.2 0.6 0.1 0.4 0.4 2.9 2.9 2.9
14.8 18.8 20.9 34.3 48.2 63.7 75.4 87.2
11.8 17.1 23.4 40.1 53.9 67.0 59.1 62.6
Growth +44.7% +36.8% +71.7% +34.5% +24.2% −11.7% +5.9%
11.5 17.0 22.8 39.4 52.0 66.0 56.8 64.1
2.8 3.0 4.5 7.9 10.6 13.2 11.3 12.5
8.7 14.0 18.3 31.6 41.4 52.8 45.5 51.2
Growth +60.4% +30.8% +72.7% +31.1% +27.6% −13.8% +12.6%
Per share
n/a 0.51 0.66 1.14 1.50 1.91 1.65 1.85
n/a 0.51 0.66 1.14 1.50 1.91 1.65 1.85
Growth +29.4% +72.7% +31.6% +27.3% −13.6% +12.1%
n/a 27.6 27.6 27.6 27.6 27.6 27.6 27.7
n/a 27.6 27.6 27.6 27.6 27.6 27.6 27.7
Growth +0.0% +0.0% +0.0% +0.1% +0.0% +0.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 24.5% a year over five years, and earnings per share grew 22.9% a year.
  • The share count barely moved in five years.
  • Operating margin is down 1.5 points on five years ago, at 13.2%.
  • Profitable in every one of the 8 years on file.