ValueScreener company report

X Financial (XYF)

Name: X Financial (XYF) filed financial figures
Creator: ValueScreener

NYSE / Financial Services / Financial - Credit Services

Share price

5.12 USD Market dataClose of Oct 15, 2026

Market capitalisation

33.3M USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Apr 30, 2026
Ratios computed: Oct 15, 2026
Filed years: 10, FY2016 to FY2025

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on equity

18.7% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

n/a Computed

From the FY2025 filing

Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

Read financial strength

Valuation

Price to earnings

0.15x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

69.3% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 5 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 0.15x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Financial - Credit Services industry (43 companies), 0.15x sits at the 0th percentile; the middle half of that group runs from 6.66x to 19.92x.

Is it good

Return on equity was 18.7% in FY2025, in the band labelled "Strong" (15.0% to 25.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Financial - Credit Services industry (53 companies), 18.7% sits at the 69th percentile; the middle half of that group runs from 5.5% to 21.2%.

Year by year against peers: Whether X Financial's return on equity stayed above the median of the Financial - Credit Services industry, year by year. (FY2021 to FY2025, 5 fiscal years of X Financial with a comparable figure)
The direction: Which way X Financial's gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of X Financial)
What could explain it: What in X Financial's filed statements could explain the movements. (4 readings drawn from the statement lines X Financial filed)
What to check next: What to check next on X Financial, and where in its filings. (2 questions for X Financial)
In one paragraph: One paragraph on X Financial's returns, cash, balance sheet and price. (9 of sixteen figures read for X Financial)

These are XYF’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research XYFPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 20-F, filed Apr 30, 2026, accession 0001104659-26-052016.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

X Financial: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Return on equity	18.7% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Return on capital employed, pre-tax Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Return on assets	10.0% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Gross margin	73.5% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Operating margin	21.3% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Net margin	19.2% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016

XYF 19.2%

-4359.1%19.2%

Net margin: XYF against the 4 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

X Financial: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Current ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Quick ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Interest coverage Why n/a No interest expense is filed for this year, so coverage is not computed.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Altman Z-score Why n/m Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.	n/m ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What X Financial owned and owed at the end of fiscal 2025, from the balance sheet it filed (20-F, filed Apr 30, 2026, 0001104659-26-052016).

X Financial: balance sheet position
Total assets	14.67B FiledFY2025 20-F, filed Apr 30, 2026
Total liabilities	6.83B FiledFY2025 20-F, filed Apr 30, 2026
Shareholders' equity	7.84B FiledFY2025 20-F, filed Apr 30, 2026
Cash	987.6M FiledFY2025 20-F, filed Apr 30, 2026
Total debt	n/a FiledFY2025 20-F, filed Apr 30, 2026
Net debt	n/a
Current ratio	n/a
Debt to equity	n/a

Debt to equity: FY2025: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Current ratio: FY2025: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

X Financial: what the market charges, each with its source
Figure	Value, source and document
Price to earnings	0.15x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
P/E on trailing twelve months Why n/a A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.	n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	0.03x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Price to sales	0.03x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Enterprise value to EBIT Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Enterprise value to EBITDA Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Price to earnings over growth Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Diluted earnings per share Why n/a The FY2025 filing carries no diluted earnings per share we could read.	n/a FiledFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Graham number Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016

We publish no fair value or price target of our own. Value XYF on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for X Financial today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

X Financial: valuation
Share price	5.12 USD
Market capitalisation	33.3M USD
Enterprise value to EBITDA	n/a
Graham number	n/a
Diluted earnings per share	n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like X Financial

Same industry (Financial - Credit Services) and size band (Nano, under 50M), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

X Financial: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield Why n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.	n/m ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Free cash flow	1.45B CNY ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Free cash flow margin	18.9% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Dividend yield	69.3% ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Payout ratio	10.6% ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

X Financial: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	0.15x	FY2025	Oct 15, 2026
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	0.03x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/a	FY2025	Apr 30, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	69.3%	FY2025	Oct 15, 2026
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/a	FY2025	Apr 30, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/a	FY2025	Apr 30, 2026
n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	0.03x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed income statement reports no earnings per share.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	-2.22	FY2025	Apr 30, 2026
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab
	5/9	FY2025	Apr 30, 2026
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tabForm20-FFiledApr 30, 2026PeriodFY2025Accession0001104659-26-052016What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-052016, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports X Financial filed with the SEC. Each year names its filing. Amounts in CNY, as filed.

X Financial: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	7.64B	1.63B	1.46B	n/a	1.45B	21.3%	18.7%	20-F, Apr 30, 20260001104659-26-052016
FY2024	5.87B	1.87B	1.54B	n/a	1.51B	31.9%	22.1%	20-F, Apr 25, 20250001410578-25-000892
FY2023	4.81B	1.46B	1.19B	n/a	1.38B	30.4%	20.3%	20-F, Apr 29, 20240001104659-24-053982
FY2022	3.56B	1.21B	812.0M	n/a	620.7M	34.1%	17.1%	20-F, Apr 27, 20230001104659-23-051321
FY2021	3.63B	1.31B	825.4M	n/a	446.6M	36.1%	20.8%	20-F, Apr 28, 20220001104659-22-051593
FY2020	2.19B	-1.43B	-1.31B	n/a	-684.6M	-65.2%	-42.6%	20-F, May 14, 20210001104659-21-066950
FY2019	3.09B	812.6M	774.3M	n/a	585.4M	26.3%	17.7%	20-F, Jun 4, 20200001104659-20-069741
FY2018	3.54B	1.28B	883.1M	n/a	-33.3M	36.0%	25.1%	20-F, Apr 25, 20190001104659-19-023556
FY2017	1.79B	501.7M	340.3M	n/a	-636.0M	28.1%	19.3%	20-F, Apr 25, 20190001104659-19-023556
FY2016	230.3M	-136.8M	-119.6M	n/a	79.1M	-59.4%	n/a	20-F, Apr 25, 20190001104659-19-023556

Revenue, compound annual growth FY2016 to FY2025: 47.6%
Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Earnings per share: Fewer than two filed years carry earnings per share.
Free cash flow, compound annual growth FY2016 to FY2025: 38.1%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

X Financial: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score	-2.22 ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Piotroski F-score	5/9 ComputedFY2025 20-F, filed Apr 30, 2026, 0001104659-26-052016
Named tests met	5 of 30 Computed
Beta	0.90 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 5 met, 10 not met, 15 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: Deep value; Cash-covered dividend; Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman)
Does not: Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); Low beta, profitable; Near the 52-week low; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Clean books, high ROIC
Not measured: Defensive investor (Benjamin Graham); Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; ROIC at or above WACC; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Book or below, low debt (Walter Schloss); Cash-flow yield and ROIC; Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(14)

Current Ratio: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Debt to Equity: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
EV/EBIT: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
EV/EBITDA: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Price To Ncav: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Price To Graham: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

14 figures could not be read on this company, among them Current Ratio, Debt to Equity, Positive Earnings Streak. Each blank in the table above names the rest, with its reason. 15 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, as filed

The reading, in brief

Financial health

Valuation

Companies like X Financial

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes