XPEV

XPeng is a Chinese electric-vehicle manufacturer trading at $13.21 with a negative P/E of -22.0 against FY diluted EPS of -$0.60. The most recent EPS data point still shows a loss, even though it improved 80.4% YoY, so the company remains firmly unprofitable on the bottom line. The detailed income-statement and balance-sheet figures available here are from FY2020 and paint the picture of an early-stage automaker: revenue of $896M against a net loss of -$419M, an operating loss of -$658M, and razor-thin gross profit of $40.8M for a 4.6% gross margin. Operating margin of -73.5% and net margin of -46.7% underscore that the business was burning heavily to scale.

The one clear positive is liquidity and balance-sheet structure: cash and equivalents of $4.48B, total assets of $6.85B against just $1.58B of liabilities, and stockholders' equity of $5.28B for a conservative liabilities/equity of 0.30x. Current assets of $6.08B comfortably cover $1.20B of current liabilities, and long-term debt was modest at $252M. That cash cushion buys time, but operating cash flow was already negative (-$21.4M) with $124M of capex, and the accumulated deficit stood at -$1.74B.