Xunlei Ltd XNET
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS3.31
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $462.4M | $324.4M | $364.9M | $342.6M | $239.6M | $186.7M | $181.3M | $230.6M | $200.6M | $140.2M |
| Cost of revenue | $242.9M | $155.6M | $200.6M | $200.1M | $118.6M | $92.6M | $99.9M | $115.7M | $117.9M | $79.9M |
| Gross profit | $217.5M | $167.6M | $163.1M | $141.4M | $120.2M | $93.7M | $80.8M | $114.9M | $82.7M | $60.3M |
| R&D | $80.0M | $71.6M | $74.2M | $67.7M | $61.9M | $55.5M | $68.6M | $76.8M | $66.9M | $61.2M |
| SG&A | $44.9M | $45.8M | $46.9M | $39.7M | $36.9M | $33.9M | $38.9M | $40.8M | $36.5M | $26.0M |
| Total operating expenses | $210.9M | $183.3M | $164.7M | $131.4M | $124.5M | $112.5M | $137.2M | $159.3M | $136.9M | $101.8M |
| Operating income | $6.6M | -$15.7M | -$1.6M | $10.1M | -$4.3M | -$18.8M | -$56.4M | -$44.3M | -$54.2M | -$41.5M |
| Interest expense | $1.7M | — | — | — | — | — | — | — | — | — |
| Pre-tax income | $1.05B | -$2.4M | $18.4M | $25.4M | $983.0K | -$13.0M | -$48.7M | -$40.9M | -$46.5M | -$33.3M |
| Income tax | $1.3M | $3.0M | $4.1M | $4.1M | $125.0K | $1.1M | $4.7M | $89.0K | $2.3M | $2.5M |
| Net income | $1.05B | $1.2M | $14.2M | $21.5M | $1.2M | -$13.8M | -$53.2M | -$39.3M | -$37.8M | -$24.1M |
| EPS, basic | 3.37 | 0.00 | 0.04 | 0.06 | 0.00 | -0.04 | -0.16 | -0.12 | -0.11 | -0.07 |
| EPS, diluted | 3.31 | 0.00 | 0.04 | 0.06 | 0.00 | -0.04 | -0.16 | -0.12 | -0.11 | -0.07 |
| Shares, diluted (wtd. avg.) | 316.5M | 319.1M | 326.8M | 336.2M | 336.0M | 337.4M | 337.8M | 335.0M | 331.7M | 334.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $157.0M | $177.3M | $170.8M | $177.2M | $123.4M | $137.2M | $162.5M | $122.9M | $233.5M | $199.5M |
| Short-term investments | $148.2M | $110.2M | $101.1M | $83.6M | $115.7M | $117.8M | $102.8M | $196.5M | $138.9M | $182.0M |
| Receivables | $68.4M | $32.7M | $31.2M | $29.8M | $26.1M | $23.0M | $27.5M | $19.4M | $40.6M | $14.5M |
| Inventory | $403.0K | $1.3M | $2.2M | $457.0K | $1.4M | $1.7M | $5.5M | $12.7M | $3.9M | $374.0K |
| Total current assets | $399.7M | $363.0M | $327.4M | $332.2M | $293.9M | $302.3M | $316.6M | $362.9M | $430.8M | $412.3M |
| Property, plant and equipment | $54.8M | $55.4M | $60.0M | $61.7M | $57.7M | $50.7M | $38.8M | $21.9M | $24.7M | $21.0M |
| Goodwill | $39.2M | — | $20.8M | $21.2M | $23.1M | $22.6M | $20.4M | $20.7M | $21.8M | $20.5M |
| Other intangibles | $32.7M | $8.3M | $5.7M | $6.5M | $8.3M | $8.9M | $9.4M | $10.0M | $5.5M | $10.7M |
| Total assets | $1.63B | $473.9M | $468.7M | $463.3M | $440.7M | $415.6M | $424.7M | $455.4M | $533.4M | $509.8M |
| Accounts payable | $42.0M | $23.0M | $24.4M | $25.4M | $26.4M | $20.6M | $24.2M | $22.6M | $49.8M | $33.4M |
| Short-term debt | $3.6M | $696.0K | $6.9M | — | — | — | — | — | — | — |
| Total current liabilities | $208.4M | $126.7M | $128.1M | $128.3M | $119.9M | $103.3M | $111.3M | $108.0M | $141.7M | $93.4M |
| Long-term debt | $38.4M | $27.1M | $15.5M | — | — | $19.9M | $11.3M | — | — | — |
| Total liabilities | $259.4M | $156.1M | $145.2M | $154.9M | $139.0M | $125.2M | $129.1M | $111.3M | $150.6M | $103.5M |
| Retained earnings | $901.0M | -$146.3M | -$146.9M | -$160.1M | -$180.6M | -$181.1M | -$167.0M | -$113.8M | -$74.5M | -$36.7M |
| Total equity | $1.37B | $318.1M | $323.5M | $308.4M | $301.8M | $290.4M | $295.5M | $344.2M | $382.8M | $406.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $32.5M | $31.0M | $25.7M | $51.1M | $19.5M | -$13.9M | -$45.6M | -$35.6M | -$14.2M | $17.0M |
| Depreciation and amortisation | $5.0M | $4.7M | $4.4M | $2.7M | $6.3M | $9.3M | $5.8M | $5.6M | $7.9M | $6.2M |
| Stock-based compensation | $3.8M | $2.5M | $9.7M | $8.2M | $6.2M | $2.3M | $5.4M | $5.3M | $8.3M | $9.3M |
| Capital expenditure | $5.3M | $8.0M | $4.0M | $15.0M | $13.2M | $13.6M | $3.1M | $1.4M | $5.3M | $13.8M |
| Investing cash flow | -$99.1M | -$21.9M | -$23.9M | $11.8M | -$32.6M | -$20.8M | $79.3M | -$69.4M | $35.2M | -$158.3M |
| Financing cash flow | $45.5M | -$925.0K | -$13.5M | $6.6M | -$223.0K | $2.7M | $12.2M | $929.0K | $2.6M | -$11.0M |
| Buybacks | — | — | — | — | — | — | — | — | — | $712.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-050304.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $140.2M | $200.6M | $230.6M | $181.3M | $186.7M | $239.6M | $342.6M | $364.9M | $324.4M | $462.4M |
| Gross profit | $60.3M | $82.7M | $114.9M | $80.8M | $93.7M | $120.2M | $141.4M | $163.1M | $167.6M | $217.5M |
| Net income | -$24.1M | -$37.8M | -$39.3M | -$53.2M | -$13.8M | $1.2M | $21.5M | $14.2M | $1.2M | $1.05B |
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