Lixiang Education Holding Co., Ltd. (LXEH) Key Metrics
LXEH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanLXEH returns How much profit the business earns on the capital it uses.
LXEH financial health Debt, liquidity and how easily interest is covered.
LXEH efficiency & capital use Working capital cycle and where the cash goes.
LXEH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LXEH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LXEH key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −11.3% | −16.2% | −61.7% | −4.2% | −100.2% | 12.5% | 32.0% | 71.8% | 70.6% | 138.8% |
| Return on invested capital (ROIC) | −2.4% | −63.0% | −196.8% | −94.4% | — | 1.2% | 1.6% | 29.0% | 26.3% | 28.6% |
| Return on assets (ROA) | −4.3% | −5.4% | −24.3% | −1.4% | −38.8% | 6.5% | 16.6% | 28.7% | 20.9% | 22.3% |
| Return on tangible assets | −5.3% | −5.6% | −31.7% | −1.6% | −52.0% | 4.9% | 17.9% | 36.3% | 17.7% | 19.0% |
| Free cash flow margin | — | −56.8% | −120.8% | 95.9% | 82.3% | 177.2% | 339.6% | 8.6% | −1.7% | −7.7% |
| Income quality (OCF / net income) | — | — | — | — | — | 1.47 | 1.24 | 0.64 | 0.98 | 1.07 |
| Financial health | ||||||||||
| Total debt | CN¥133.0M | CN¥131.6M | CN¥77.7M | CN¥73.5M | CN¥77.0M | CN¥24.9M | CN¥83.6M | CN¥85.6M | CN¥104.9M | CN¥79.3M |
| Cash & short-term investments | CN¥12.8M | CN¥220.7M | CN¥227.0M | CN¥246.8M | CN¥199.4M | CN¥203.6M | CN¥44.7M | CN¥7.7M | CN¥47.8M | CN¥9.0M |
| Net debt | CN¥120.2M | −CN¥89.2M | −CN¥149.3M | −CN¥173.3M | −CN¥122.4M | −CN¥178.7M | CN¥38.9M | CN¥77.9M | CN¥57.1M | CN¥70.3M |
| Debt / equity | 0.87 | 0.90 | 0.49 | 0.29 | 0.65 | 0.07 | 0.49 | 0.69 | 1.00 | 1.64 |
| Debt / assets | 0.42 | 0.28 | 0.18 | 0.12 | 0.14 | 0.03 | 0.28 | 0.32 | 0.34 | 0.38 |
| Net debt / EBITDA | 12.61 | — | — | — | −31.03 | −18.43 | 2.70 | 0.93 | 1.09 | 1.76 |
| Current ratio | 0.28 | 2.10 | 2.37 | 2.46 | 0.73 | 1.35 | 0.46 | 0.17 | 0.33 | 0.09 |
| Quick ratio | 0.28 | 2.10 | 2.36 | 2.45 | 0.73 | 1.35 | 0.45 | 0.17 | 0.33 | 0.09 |
| Interest coverage | -10.5 | -8.9 | -30.1 | -11.2 | -0.5 | 5.5 | 3.8 | 14.4 | 10.5 | 10.3 |
| Working capital | −CN¥90.1M | CN¥123.5M | CN¥141.7M | CN¥195.5M | −CN¥112.6M | CN¥124.7M | −CN¥70.1M | −CN¥116.4M | −CN¥119.9M | −CN¥115.0M |
| Invested capital | CN¥273.5M | CN¥57.0M | CN¥8.1M | CN¥79.7M | −CN¥3.3M | CN¥188.8M | CN¥210.0M | CN¥201.8M | CN¥162.1M | CN¥118.6M |
| Tangible asset value | CN¥153.2M | CN¥111.4M | CN¥122.0M | CN¥147.1M | CN¥55.4M | CN¥329.7M | CN¥132.5M | CN¥84.3M | CN¥105.1M | CN¥48.3M |
| Net current asset value | −CN¥129.6M | −CN¥88.9M | −CN¥32.0M | −CN¥25.9M | −CN¥112.6M | CN¥124.3M | −CN¥71.8M | −CN¥118.4M | −CN¥141.3M | −CN¥152.1M |
| Capital allocation | ||||||||||
| Capex / revenue | 2.7% | 0.9% | 4.3% | 3.1% | 6.5% | 15.2% | 98.0% | 3.6% | 42.3% | 45.0% |
| Capex / operating cash flow | — | — | — | 3.2% | 7.3% | 7.9% | 22.4% | 29.7% | 104.2% | 120.5% |
| Capex / depreciation | 0.01 | 0.03 | 0.19 | 0.11 | 0.43 | 0.80 | 1.68 | 2.08 | 9.50 | 14.62 |
| Stock-based compensation / revenue | — | — | — | — | 264.5% | — | — | — | — | — |
| SG&A / revenue | 547.1% | 69.8% | 50.1% | 67.0% | 53.4% | 39.4% | 15.8% | 19.2% | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 1,180.5 | 160.6 | 154.1 | 126.9 | 30.2 | 45.8 | 29.8 | 5.3 | 17.6 | 2.9 |
| Days of inventory on hand | — | — | 8.0 | 6.3 | 19.0 | 46.6 | 65.6 | 0.7 | 1.8 | 1.4 |
| Days payables outstanding | 135.4 | 9.6 | 15.7 | 38.5 | 127.9 | 261.8 | 827.3 | 11.5 | 24.7 | 29.3 |
| Cash conversion cycle (days) | 1,045.1 | 155.5 | 146.3 | 94.6 | -78.8 | -169.4 | -732.0 | -5.6 | -5.3 | -25.1 |
| Receivables turnover | 0.31 | 2.27 | 2.37 | 2.88 | 12.10 | 7.96 | 12.27 | 69.26 | 20.74 | 127.34 |
| Payables turnover | 2.70 | 37.89 | 23.23 | 9.47 | 2.85 | 1.39 | 0.44 | 31.71 | 14.78 | 12.46 |
| Inventory turnover | — | — | 45.69 | 58.08 | 19.23 | 7.83 | 5.57 | 552.23 | 203.46 | 269.78 |
| Asset turnover | 0.01 | 0.07 | 0.10 | 0.07 | 0.05 | 0.05 | 0.05 | 1.49 | 0.50 | 0.64 |
| Average receivables | CN¥13.9M | CN¥14.4M | CN¥21.4M | CN¥14.4M | CN¥2.8M | CN¥3.2M | CN¥1.1M | CN¥6.2M | CN¥6.3M | CN¥909,688 |
| Average payables | CN¥2.2M | CN¥946,296 | CN¥2.0M | CN¥4.3M | CN¥6.1M | CN¥7.7M | CN¥10.8M | CN¥8.5M | CN¥5.1M | CN¥5.6M |
| Average inventory | — | CN¥443,448 | CN¥1.0M | CN¥695,688 | CN¥902,465 | CN¥1.4M | CN¥856,019 | CN¥486,808 | CN¥367,986 | CN¥260,898 |
| Intangibles / total assets | 0.0% | 7.2% | 8.1% | 17.5% | 12.0% | 5.2% | 12.8% | 14.9% | 0.0% | 0.0% |
Computed from LXEH's annual financial statements (latest annual report filed May 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Chinese yuan; data from EODHD. Averages use the opening and closing balance of each year.
LXEH valuation and financial ratios
Lixiang Education earned a return on equity of −11.3% and a return on invested capital of −2.4% in fiscal 2025. It ended the year with CN¥133.0 million of debt and CN¥12.8 million in cash and short-term investments, net debt of CN¥120.2 million.
See the LXEH income statement, the LXEH chart for price history, or the LXEH stock overview for the latest quote and news.
LXEH key metrics FAQ
What is Lixiang Education's return on equity?
Lixiang Education's return on equity (ROE) was −11.3% in fiscal 2025: net income of -CN¥17.0 million on average shareholders' equity of CN¥149.7 million.
What is Lixiang Education's ROIC?
Lixiang Education's return on invested capital was −2.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Lixiang Education have?
Lixiang Education had total debt of CN¥133.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.87 and CN¥120.2 million of net debt (12.61 times EBITDA).
What is Lixiang Education's current ratio?
Lixiang Education's current ratio was 0.28 at the end of fiscal 2025: current assets were 0.28 times current liabilities.