Stocktoria
XChange TEC.INC XHG
Nasdaq · XNAS · stock · Insurance Agents, Brokers & Service · website · IPO 2019-11-05
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2/9
Piotroski F — financial health
—
Altman Z″ — distress risk
—
Dividend payout · no dividend
Financials & ratios (annual, from 10-K)
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Financials | |||||
| Revenue | $51.3M | $41.1M | — | $91.7M | $160.8M |
| Gross profit | $1.1M | $1.9M | — | — | — |
| Operating income | -$101.2M | -$83.9M | -$3.5M | -$34.3M | -$62.0M |
| Net income | -$105.1M | -$226.8M | -$71.3M | $115.3M | -$88.3M |
| Operating cash flow | -$1.6M | -$1.3M | -$5.5M | -$7.1M | -$161.4M |
| Free cash flow | — | — | — | — | -$161.4M |
| Total assets | $9.7M | $111.6M | $11.7M | $13.4M | $58.6M |
| Total liabilities | $133.4M | $190.9M | $99.9M | $94.0M | $444.3M |
| Shareholders' equity | -$123.6M | -$79.3M | -$643.4M | -$80.5M | -$387.1M |
| Ratios | |||||
| Gross margin | 2.2% | 4.7% | — | — | — |
| Operating margin | -197.2% | -204.2% | — | -37.4% | -38.6% |
| Net margin | -204.9% | -552.0% | — | 125.7% | -54.9% |
| FCF margin | — | — | — | — | -100.4% |
| Return on assets | -1078.8% | -203.3% | -607.4% | 858.2% | -150.7% |
| Return on equity | 85.0% | 286.0% | 11.1% | -143.1% | 22.8% |
| Debt / equity | — | — | — | — | -0.08× |
| Current ratio | 0.04 | 0.05 | 0.02 | 0.11 | 0.08 |
| Revenue growth | 24.9% | — | — | -43.0% | -9.6% |
Why these scores methodology →
Piotroski F-score: 2/9
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Altman Z″: n/a
Not applicable (financials/insurer or missing inputs).
Sector peers
IX · MUFG · MFG · NMR · UNH · CI · all Finance, Insurance & Real Estate →
Source: SEC EDGAR filings · CIK 0001769256 · as of 2025-09-30. Figures are facts from filings plus Stocktoria's own computed scores — not investment advice.