XPeng Inc. (XPEV) Balance Sheet

NYSE: XPEVAssets, liabilities, debt and equity over 8 years.

XPEV balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥103.16B assets = CN¥72.79B liabilities + CN¥30.37B equity

Both columns are drawn to the same scale: what XPEV owns equals what it owes plus shareholders’ equity. Hover a block for its value.

XPEV financial health

Current ratio1.09

Adequate · current assets cover current liabilities 1.09×

Debt / equity0.64

Moderate leverage · CN¥0.64 of debt for each $1 of equity

Equity / assets29.4%

Balanced · of assets funded by shareholders

Cash / debt178.8%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles7.3%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

XPEV balance sheet trends, 2018–2025

XPeng Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥7.67B2018	CN¥103.16B2025	+45.0%/yr
Total liabilities	CN¥9.86B2018	CN¥72.79B2025	+33.1%/yr
Shareholders’ equity	−CN¥2.19B2018	CN¥30.37B2025	—
Cash & short-term investments	CN¥4.63B2018	CN¥34.96B2025	+33.5%/yr
Total debt	CN¥1.55B2018	CN¥19.55B2025	+43.6%/yr
Net cash (debt)	CN¥3.08B2018	CN¥15.40B2025	+CN¥12.3B
Working capital	CN¥5.14B2018	CN¥5.14B2025	+CN¥4.4M
Current ratio	6.282018	1.092025	−5.19
Debt / equity	0.072020	0.642025	+0.58
Shares outstanding	794.8M2018	476.0M2025	−7.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

XPEV assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

XPEV liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

XPEV debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

XPEV balance sheet in Chinese yuan

XPeng Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018
Assets
Cash & short-term investments	CN¥34.96B	CN¥32.72B	CN¥31.67B	CN¥30.79B	CN¥39.72B	CN¥33.01B	CN¥2.35B	CN¥4.63B
Cash & equivalents	CN¥17.33B	CN¥18.59B	CN¥21.13B	CN¥14.61B	CN¥11.02B	CN¥29.21B	CN¥1.95B	CN¥1.63B
Short-term investments	CN¥17.63B	CN¥14.14B	CN¥10.54B	CN¥16.18B	CN¥28.69B	CN¥3.80B	CN¥407.8M	CN¥3.01B
Receivables	CN¥9.16B	CN¥5.01B	CN¥4.61B	CN¥5.21B	CN¥4.16B	CN¥1.28B	CN¥1.32B	CN¥1.09B
Inventory	CN¥10.38B	CN¥5.56B	CN¥5.53B	CN¥4.52B	CN¥2.66B	CN¥1.34B	CN¥454.1M	CN¥169.3M
Other current assets	CN¥8.76B	CN¥6.44B	CN¥12.72B	CN¥3.00B	CN¥2.30B	CN¥4.04B	CN¥827.9M	CN¥218.9M
Total current assets	CN¥63.25B	CN¥49.74B	CN¥54.52B	CN¥43.53B	CN¥48.83B	CN¥39.68B	CN¥4.96B	CN¥6.11B
Property, plant & equipment (net)	CN¥17.26B	CN¥12.78B	CN¥12.41B	CN¥12.56B	CN¥6.99B	CN¥3.54B	CN¥3.68B	CN¥1.23B
Goodwill & intangible assets	CN¥7.50B	CN¥7.39B	CN¥7.77B	CN¥3.79B	CN¥1.47B	CN¥857.7M	CN¥373.2M	CN¥309.4M
Long-term investments	CN¥6.79B	CN¥6.45B	CN¥2.08B	CN¥2.30B	CN¥1.55B	CN¥1.0M	CN¥0	CN¥0
Other non-current assets	CN¥8.36B	CN¥6.35B	CN¥7.37B	CN¥9.32B	CN¥6.81B	CN¥626.1M	CN¥240.3M	CN¥24.7M
Total assets	CN¥103.16B	CN¥82.71B	CN¥84.16B	CN¥71.49B	CN¥65.65B	CN¥44.71B	CN¥9.25B	CN¥7.67B
Liabilities
Accounts payable	CN¥18.00B	CN¥23.08B	CN¥22.21B	CN¥14.22B	CN¥12.36B	CN¥5.11B	CN¥953.9M	CN¥214.9M
Short-term debt	CN¥7.81B	CN¥6.83B	CN¥6.20B	CN¥3.80B	CN¥480.1M	CN¥292.5M	CN¥570.7M	CN¥283.6M
Deferred revenue	CN¥1.76B	CN¥1.65B	CN¥731.3M	CN¥389.2M	CN¥418.2M	CN¥163.6M	CN¥53.9M	CN¥36.5M
Total current liabilities	CN¥58.11B	CN¥39.86B	CN¥36.11B	CN¥24.11B	CN¥18.01B	CN¥7.84B	CN¥3.30B	CN¥973.0M
Long-term debt	CN¥6.76B	CN¥6.98B	CN¥6.93B	CN¥4.61B	CN¥1.68B	CN¥1.65B	CN¥1.69B	CN¥1.00B
Lease obligations	CN¥5.49B	CN¥2.49B	CN¥2.67B	CN¥3.27B	CN¥1.56B	CN¥472.1M	CN¥452.1M	CN¥350.9M
Other long-term liabilities	CN¥7.93B	CN¥4.59B	CN¥4.80B	CN¥5.85B	CN¥3.82B	CN¥794.7M	CN¥11.09B	CN¥7.89B
Total liabilities	CN¥72.79B	CN¥51.43B	CN¥47.83B	CN¥34.58B	CN¥23.50B	CN¥10.28B	CN¥16.08B	CN¥9.86B
Shareholders' equity
Common stock & paid-in capital	CN¥127,000	CN¥125,000	CN¥124,000	CN¥113,000	CN¥112,000	CN¥101,000	CN¥21,000	CN¥21,000
Retained earnings (deficit)	−CN¥42.77B	−CN¥41.49B	−CN¥35.76B	−CN¥25.33B	−CN¥16.19B	−CN¥11.32B	−CN¥6.82B	−CN¥2.18B
Accumulated other comprehensive income	CN¥1.90B	CN¥2.09B	CN¥1.89B	CN¥1.55B	−CN¥1.64B	−CN¥730.4M	−CN¥5.9M	−CN¥3.0M
Total shareholders' equity	CN¥30.37B	CN¥31.27B	CN¥36.33B	CN¥36.91B	CN¥42.15B	CN¥34.43B	−CN¥6.83B	−CN¥2.19B
Key figures
Total debt	CN¥19.55B	CN¥14.62B	CN¥15.39B	CN¥11.07B	CN¥3.24B	CN¥2.29B	CN¥2.62B	CN¥1.55B
Net cash (debt)	CN¥15.40B	CN¥18.10B	CN¥16.27B	CN¥19.73B	CN¥36.48B	CN¥30.72B	−CN¥267.3M	CN¥3.08B
Working capital	CN¥5.14B	CN¥9.87B	CN¥18.41B	CN¥19.41B	CN¥30.82B	CN¥31.84B	CN¥1.66B	CN¥5.14B
Tangible book value	CN¥22.86B	CN¥23.89B	CN¥28.56B	CN¥33.12B	CN¥40.67B	CN¥33.57B	−CN¥7.20B	−CN¥2.49B
Shares outstanding	476.0M	1.89B	1.74B	856.3M	1.64B	1.71B	794.8M	794.8M
Current ratio	1.09	1.25	1.51	1.81	2.71	5.06	1.50	6.28
Quick ratio	0.76	0.95	1.00	1.49	2.44	4.38	1.12	5.88
Debt / equity	0.64	0.47	0.42	0.30	0.08	0.07	—	—
Equity / assets	29.4%	37.8%	43.2%	51.6%	64.2%	77.0%	−73.8%	−28.5%

XPeng Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥31.70B	CN¥37.12B	CN¥34.96B	CN¥34.70B	CN¥33.87B	CN¥32.51B	CN¥32.72B	CN¥24.16B	CN¥28.14B	CN¥26.87B	CN¥31.67B	CN¥31.67B
Cash & equivalents	CN¥21.17B	CN¥19.82B	CN¥17.33B	CN¥17.53B	CN¥18.81B	CN¥17.76B	CN¥18.59B	CN¥10.66B	CN¥14.25B	CN¥14.54B	CN¥21.13B	CN¥21.13B
Short-term investments	CN¥10.53B	CN¥17.29B	CN¥17.63B	CN¥17.16B	CN¥15.06B	CN¥14.75B	CN¥14.14B	CN¥13.50B	CN¥13.89B	CN¥12.32B	CN¥10.54B	CN¥10.54B
Receivables	CN¥5.04B	CN¥4.40B	CN¥9.16B	CN¥4.57B	CN¥4.49B	CN¥4.62B	CN¥5.01B	CN¥4.59B	CN¥4.11B	CN¥3.99B	CN¥6.18B	CN¥6.18B
Inventory	CN¥13.73B	CN¥13.24B	CN¥10.38B	CN¥9.24B	CN¥6.60B	CN¥5.97B	CN¥5.56B	CN¥6.14B	CN¥5.57B	CN¥6.14B	CN¥5.53B	CN¥5.53B
Other current assets	CN¥11.06B	CN¥5.69B	CN¥8.76B	CN¥11.45B	CN¥9.81B	CN¥8.92B	CN¥6.44B	CN¥9.08B	CN¥6.92B	CN¥13.28B	CN¥11.15B	CN¥11.15B
Total current assets	CN¥61.53B	CN¥60.44B	CN¥63.25B	CN¥59.95B	CN¥54.77B	CN¥52.01B	CN¥49.74B	CN¥43.97B	CN¥44.73B	CN¥50.28B	CN¥54.52B	CN¥54.52B
Property, plant & equipment (net)	CN¥19.05B	CN¥18.54B	CN¥17.26B	CN¥16.12B	CN¥15.75B	CN¥15.35B	CN¥12.78B	CN¥12.66B	CN¥11.74B	CN¥12.00B	CN¥12.53B	CN¥12.53B
Goodwill & intangible assets	CN¥3.99B	CN¥4.14B	CN¥7.50B	CN¥7.45B	CN¥7.62B	CN¥7.76B	CN¥7.39B	CN¥7.33B	CN¥7.50B	CN¥7.64B	CN¥7.77B	CN¥7.77B
Long-term investments	CN¥2.71B	CN¥2.82B	CN¥6.79B	CN¥2.30B	CN¥2.14B	CN¥2.08B	CN¥6.45B	CN¥1.82B	CN¥2.06B	CN¥2.06B	CN¥2.08B	CN¥2.49B
Other non-current assets	CN¥14.35B	CN¥14.50B	CN¥8.36B	CN¥12.48B	CN¥12.14B	CN¥11.70B	CN¥6.35B	CN¥10.66B	CN¥8.96B	CN¥7.91B	CN¥7.25B	CN¥6.85B
Total assets	CN¥101.62B	CN¥100.44B	CN¥103.16B	CN¥98.31B	CN¥92.43B	CN¥88.89B	CN¥82.71B	CN¥76.43B	CN¥75.00B	CN¥79.90B	CN¥84.16B	CN¥84.16B
Liabilities
Accounts payable	CN¥15.73B	CN¥13.03B	CN¥18.00B	CN¥17.75B	CN¥16.96B	CN¥26.98B	CN¥23.08B	CN¥16.86B	CN¥16.39B	CN¥20.02B	CN¥22.21B	CN¥22.21B
Short-term debt	CN¥25.16B	CN¥25.78B	CN¥7.81B	CN¥23.23B	CN¥19.67B	CN¥6.50B	CN¥6.83B	CN¥6.96B	CN¥6.49B	CN¥6.55B	CN¥6.20B	CN¥6.20B
Deferred revenue	CN¥1.70B	CN¥1.75B	CN¥1.76B	CN¥1.90B	CN¥1.49B	CN¥1.17B	—	CN¥863.3M	CN¥889.6M	CN¥556.1M	CN¥731.3M	CN¥731.3M
Total current liabilities	CN¥55.32B	CN¥53.13B	CN¥58.11B	CN¥53.57B	CN¥47.96B	CN¥42.93B	CN¥39.86B	CN¥32.03B	CN¥29.80B	CN¥33.49B	CN¥36.11B	CN¥36.11B
Long-term debt	CN¥8.98B	CN¥9.00B	CN¥6.76B	CN¥6.42B	CN¥5.79B	CN¥5.84B	CN¥6.98B	CN¥6.38B	CN¥5.36B	CN¥5.43B	CN¥6.93B	CN¥6.42B
Lease obligations	CN¥7.10B	CN¥7.12B	CN¥5.49B	CN¥5.52B	CN¥5.69B	CN¥5.73B	CN¥2.49B	CN¥2.44B	CN¥2.52B	CN¥2.54B	CN¥2.67B	CN¥2.81B
Other long-term liabilities	CN¥10.30B	CN¥9.94B	CN¥7.93B	CN¥8.33B	CN¥8.33B	CN¥9.41B	CN¥4.59B	CN¥6.00B	CN¥5.84B	CN¥5.85B	CN¥4.80B	CN¥5.30B
Total liabilities	CN¥74.60B	CN¥72.08B	CN¥72.79B	CN¥68.32B	CN¥62.09B	CN¥58.18B	CN¥51.43B	CN¥44.41B	CN¥40.99B	CN¥44.77B	CN¥47.83B	CN¥47.83B
Shareholders' equity
Common stock & paid-in capital	CN¥127,040	CN¥125,528	CN¥127,000	CN¥126,000	CN¥126,000	CN¥126,000	CN¥125,000	CN¥125,000	CN¥124,000	CN¥124,000	CN¥124,000	CN¥124,000
Retained earnings (deficit)	−CN¥45.93B	−CN¥44.40B	−CN¥42.77B	−CN¥43.13B	−CN¥42.74B	−CN¥42.26B	−CN¥41.49B	−CN¥40.25B	−CN¥38.43B	−CN¥37.14B	−CN¥35.76B	−CN¥35.76B
Accumulated other comprehensive income	CN¥1.39B	CN¥1.63B	CN¥1.90B	CN¥2.05B	CN¥2.16B	CN¥2.17B	CN¥2.09B	CN¥1.75B	CN¥2.02B	CN¥1.93B	CN¥1.89B	CN¥1.89B
Total shareholders' equity	CN¥27.02B	CN¥28.35B	CN¥30.37B	CN¥29.99B	CN¥30.34B	CN¥30.71B	CN¥31.27B	CN¥32.03B	CN¥34.01B	CN¥35.12B	CN¥36.33B	CN¥36.33B
Key figures
Total debt	CN¥40.87B	CN¥41.34B	CN¥19.55B	CN¥34.70B	CN¥30.67B	CN¥17.70B	CN¥14.62B	CN¥15.42B	CN¥14.02B	CN¥14.16B	CN¥15.39B	CN¥15.39B
Net cash (debt)	−CN¥9.17B	−CN¥4.23B	CN¥15.40B	−CN¥1.9M	CN¥3.20B	CN¥14.81B	CN¥18.10B	CN¥8.74B	CN¥14.12B	CN¥12.71B	CN¥16.27B	CN¥16.27B
Working capital	CN¥6.20B	CN¥7.31B	CN¥5.14B	CN¥6.39B	CN¥6.81B	CN¥9.08B	CN¥9.87B	CN¥11.95B	CN¥14.94B	CN¥16.78B	CN¥18.41B	CN¥18.41B
Tangible book value	CN¥23.03B	CN¥24.21B	CN¥22.86B	CN¥22.54B	CN¥22.71B	CN¥22.95B	CN¥23.89B	CN¥24.70B	CN¥26.50B	CN¥27.48B	CN¥28.56B	CN¥28.56B
Shares outstanding	478.2M	477.6M	483.7M	952.7M	945.7M	945.7M	1.89B	1.89B	1.89B	1.89B	1.87B	893.8M
Current ratio	1.11	1.14	1.09	1.12	1.14	1.21	1.25	1.37	1.50	1.50	1.51	1.51
Quick ratio	0.66	0.78	0.76	0.73	0.80	0.86	0.95	0.90	1.08	0.92	1.05	1.05
Debt / equity	1.51	1.46	0.64	1.16	1.01	0.58	0.47	0.48	0.41	0.40	0.42	0.42
Equity / assets	26.6%	28.2%	29.4%	30.5%	32.8%	34.5%	37.8%	41.9%	45.3%	44.0%	43.2%	43.2%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 16, 2026); data from EODHD.

XPEV financial position

At the end of fiscal 2025 (December 31, 2025), XPeng had total assets of CN¥103.2 billion (up 24.7% from a year earlier), total liabilities of CN¥72.8 billion and shareholders' equity of CN¥30.4 billion. It held CN¥35.0 billion in cash and short-term investments against CN¥19.6 billion of debt, a net cash position of CN¥15.4 billion. Its current ratio was 1.09. In the latest quarter (ended June 30, 2026) total assets were CN¥101.6 billion and equity CN¥27.0 billion.

Related: XPEV income statement, XPEV cash flow statement, XPEV key metrics. See the XPEV stock overview for the latest quote and news.

XPEV balance sheet FAQ

What are XPeng's total assets?

XPeng reported total assets of CN¥103.2 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥82.7 billion a year earlier.

How much debt does XPeng have?

XPeng had CN¥19.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.64.

How much cash does XPeng have?

XPeng held CN¥35.0 billion in cash and short-term investments at the end of fiscal 2025; with CN¥19.6 billion of debt that is net cash of CN¥15.4 billion.

What is XPeng's book value?

XPeng's shareholders' equity (book value) was CN¥30.4 billion at the end of fiscal 2025.

What is XPeng's current ratio?

XPeng had current assets of CN¥63.3 billion and current liabilities of CN¥58.1 billion, a current ratio of 1.09 (it can cover its short-term obligations).

How much goodwill does XPeng have?

XPeng carried CN¥7.5 billion of goodwill and intangible assets, 7.3% of total assets, at the end of fiscal 2025.