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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

XTB S.A.

Ticker: XTB.WA | Industry: Financial - Capital Markets | Sector: Financial Services
$77.42 -0.98 (-1.25%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Stock Price 74.80 64.94 35.44 22.81 16.35 12.78 3.71 4.89 6.51 11.12 12.05
Market Capitalization 8,789.70M 7,640.09M 4,161.38M 2,674.82M 1,906.68M 1,499.80M 463.09M 572.76M 764.46M 1,305.01M 1,414.47M
(-) Cash & Equivalents 1,703.60M 1,362.85M 1,458.14M 1,103.82M 652.15M 658.69M 453.15M 480.97M 291.87M 266.77M 81.33M
(+) Total Debt 29.30M 29.17M 31.74M 26.77M 8.05M 9.47M 12.28M 0.07M 0.17M 0.30M 0.09M
Enterprise Value 7,115.41M 6,306.40M 2,734.98M 1,597.77M 1,262.58M 850.59M 22.22M 91.86M 472.76M 1,038.54M 1,333.23M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31
Revenue 2,172M 1,762M 1,975M 1,672M 1,483M 642M 803M 240M 290M 288M 266M 293M 216M 246M
Cost of Revenue 87M 51M 116M 66M -14M -14M -19M -5M 2M 7M 8M -5M 36M 130M
Gross Profit 2,085M 1,710M 1,859M 1,606M 1,496M 656M 823M 245M 288M 281M 258M 298M 180M 116M
Gross Profit Margin 96.0% 97.1% 94.1% 96.1% 100.9% 102.2% 102.4% 102.1% 99.3% 97.5% 96.9% 101.8% 83.3% 47.2%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 811M 569M 658M 525M 418M 252M 207M 124M 118M 104M 128M 102M 84M 74M
Operating Expenses 1,074M 748M 871M 682M 563M 349M 283M 173M 172M 148M 171M 147M 82M 4M
Operating Income (EBIT) 1,011M 962M 988M 925M 933M 307M 540M 72M 116M 133M 87M 152M 98M 112M
Operating Income Margin 46.6% 54.6% 50.0% 55.3% 62.9% 47.9% 67.2% 30.0% 39.9% 46.1% 32.6% 51.7% 45.4% 45.4%
Interest Income 49M 67M 52M 72M 35M 0M 6M 6M 7M 0M 0M 0M 0M 0M
Interest Expense 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income 49M 67M 52M 72M 35M 0M 6M 6M 7M 0M 0M 0M 0M 0M
Unusual Items -81M -17M 8M -36M -33M -17M -47M -8M 2M -18M 6M -3M -1M -6M
EBT Excluding Unusual Items 1,061M 1,029M 1,040M 997M 968M 308M 545M 78M 122M 133M 87M 152M 98M 112M
Pre-Tax Income 979M 1,013M 1,048M 960M 935M 290M 499M 69M 125M 115M 93M 148M 97M 105M
Pre-Tax Margin 45.1% 57.5% 53.1% 57.4% 63.1% 45.3% 62.1% 28.9% 43.1% 39.8% 35.1% 50.6% 44.9% 42.9%
Income Tax Expense 175M 180M 192M 169M 169M 53M 97M 12M 23M 22M 16M 29M 20M 25M
Net Income 804M 833M 857M 791M 766M 238M 402M 58M 101M 93M 78M 119M 77M 82M
Net Income Margin 37.0% 47.3% 43.4% 47.3% 51.7% 37.1% 50.1% 24.0% 35.0% 32.3% 29.2% 40.6% 35.6% 33.3%
Depreciation & Amortization 22M 19M 20M 17M 12M 9M 8M 7M 4M 6M 5M 6M 6M 4M
EBITDA 1,034M 982M 1,008M 942M 945M 316M 547M 79M 120M 139M 92M 157M 104M 115M
EBITDA Margin 47.6% 55.7% 51.0% 56.3% 63.7% 49.3% 68.1% 32.8% 41.3% 48.2% 34.7% 53.7% 48.1% 47.0%
NOPAT 830M 792M 807M 762M 764M 252M 435M 60M 94M 108M 72M 122M 78M 85M
NOPAT Margin 38.2% 45.0% 40.9% 45.6% 51.5% 39.2% 54.2% 24.9% 32.5% 37.4% 27.2% 41.5% 36.1% 34.7%
Owner's Earnings 803M 831M 856M 794M 764M 239M 405M 61M 104M 95M 81M 123M 81M 82M
Owner's Earnings Margin 36.9% 47.2% 43.4% 47.5% 51.6% 37.2% 50.4% 25.5% 36.0% 32.9% 30.6% 42.0% 37.6% 33.5%
EPS (Basic) 6.84 7.09 7.29 6.73 6.53 2.03 3.43 0.49 0.86 0.79 0.66 1.01 0.66 0.70
EPS (Diluted) 6.84 7.09 7.29 6.73 6.53 2.03 3.43 0.49 0.86 0.79 0.66 1.01 0.65 0.70
Shares (Basic) 118M 118M 118M 118M 117M 117M 117M 117M 117M 117M 117M 117M 117M 117M
Shares (Diluted) 118M 118M 118M 118M 117M 117M 117M 117M 117M 117M 117M 118M 118M 118M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31
Cash & Cash Equivalents 1,637.49M 1,769.70M 1,619.51M 1,409.90M 1,222.50M 589.39M 542.21M 484.35M 467.99M 367.10M 290.74M 325.33M 287.39M 168.25M
Short-Term Investments 308.37M 679.48M 602.13M 417.95M 842.51M 703.55M 663.13M 149.32M 114.28M 128.09M 95.09M 64.47M 0.00M 0.00M
Cash & Short-Term Investments 1,945.86M 2,449.17M 2,221.64M 1,827.85M 2,065.01M 1,292.94M 1,205.34M 633.67M 582.27M 495.19M 385.83M 389.80M 287.39M 168.25M
Net Receivables 74.74M 72.83M 48.75M 26.35M 57.09M 22.28M 10.83M 10.52M 3.27M 2.22M 3.47M 3.02M 0.00M 0.00M
Inventory 0.00M 0.00M 0.00M 0.00M 3,197.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Assets 5,192.43M 4,837.65M 4,273.23M 2,752.29M 1,881.41M 1,794.12M 1,036.20M 465.01M 366.98M 378.85M 376.66M 300.58M 0.00M 0.00M
Total Current Assets 7,213.03M 7,359.65M 6,543.62M 4,606.49M 7,201.42M 3,109.33M 2,252.37M 1,109.19M 952.51M 876.25M 765.96M 693.40M 287.39M 168.25M
Property, Plant & Equipment 66.57M 63.01M 65.33M 50.39M 45.30M 16.21M 13.26M 14.19M 2.52M 3.03M 3.75M 4.11M 4.49M 4.69M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 1.76M 1.88M 2.01M 1.17M 1.44M 0.59M 0.64M 0.57M 0.72M 2.92M 10.06M 13.34M 17.91M 12.93M
Long-Term Investments 0.00M 0.00M 0.00M 0.00M 842.51M 0.00M 0.00M -147.45M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 7.26M 7.87M 8.71M 10.07M 7.87M 8.69M 9.39M 9.00M 9.55M 10.50M 11.62M 12.24M 0.00M 0.00M
Other Non-Current Assets 5.65M 5.76M 0.00M 5.05M -823.22M 4.29M 2.48M 149.32M 1.74M 0.00M 0.00M 0.00M 348.53M 371.12M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 81.24M 78.52M 76.05M 66.68M 73.90M 29.77M 25.76M 25.63M 14.52M 16.45M 25.43M 29.69M 370.93M 388.74M
Total Assets 7,294.27M 7,438.18M 6,619.67M 4,673.17M 7,275.33M 3,139.11M 2,278.13M 1,134.83M 967.03M 892.70M 791.39M 723.08M 658.32M 556.98M
Accounts Payable 5,172.22M 4,755.12M 4,164.90M 2,638.12M 2,327.73M 2,010.49M 1,203.24M 579.34M 455.52M 427.01M 383.70M 308.23M 0.00M 0.00M
Short-Term Debt 10.28M 0.00M 0.00M 0.00M 6.60M 0.00M 0.00M 4.32M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Payables 1.22M 1.63M 13.32M 22.99M 1.83M 0.78M 1.33M 1.70M 0.23M 1.27M 4.26M 4.56M 0.00M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 22.44M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 175.43M 384.22M 343.17M 186.64M 140.44M 170.63M 150.80M -589.82M 28.23M 40.91M 22.65M 10.23M 0.00M 0.00M
Total Current Liabilities 5,359.15M 5,140.98M 4,521.38M 2,847.75M 2,476.60M 2,181.90M 1,355.37M 17.98M 483.98M 469.18M 410.61M 323.02M 0.00M 0.00M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 609.03M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Capital Lease Obligations 27.64M 30.97M 33.94M 29.60M 30.45M 7.44M 8.65M 10.77M 0.04M 0.13M 0.26M 0.38M 0.00M 0.00M
Deferred Tax Liabilities 75.90M 75.50M 61.24M 62.95M 58.74M 32.42M 23.26M 15.56M 12.86M 10.21M 13.04M 9.64M 0.00M 0.00M
Other Non-Current Liabilities 51.42M 22.27M 25.44M 13.69M 42.47M 10.43M 7.94M 612.72M 17.38M 17.24M 16.13M 19.43M 0.00M 0.00M
Total Non-Current Liabilities 154.96M 128.73M 120.61M 106.24M 131.66M 50.28M 39.85M 1,248.08M 30.28M 27.58M 29.43M 29.44M 0.00M 0.00M
Total Liabilities 5,514.11M 5,269.70M 4,641.99M 2,954.00M 2,608.25M 2,232.18M 1,395.22M 1,266.06M 514.25M 496.76M 440.04M 352.46M 0.00M 0.00M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 771.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 5.88M 5.88M 5.88M 5.88M 5.87M 5.87M 5.87M 5.87M 5.87M 5.87M 5.87M 5.87M 5.87M 5.87M
Retained Earnings 425.36M 1,064.44M 870.50M 800.61M 771.00M 239.74M 420.09M 72.15M 64.26M 90.78M 70.81M 108.12M 66.61M 75.99M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 729.20M 0.00M 0.00M 343.08M 0.00M 0.00M 0.00M 0.00M 191.63M 103.08M
Minority Interest 0.23M 0.23M 0.12M 0.00M -1,192.05M 0.00M 0.00M -1,093.74M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 431.24M 1,070.32M 876.37M 806.48M 2,277.07M 245.61M 425.96M 421.09M 70.13M 96.65M 76.68M 113.99M 264.10M 184.93M
Total Equity 431.47M 1,070.55M 876.49M 806.48M 1,085.02M 245.61M 425.96M -672.65M 70.13M 96.65M 76.68M 113.99M 264.10M 184.93M
Total Liabilities & Equity 5,945.58M 6,340.25M 5,518.48M 3,760.48M 3,693.27M 2,477.80M 1,821.18M 593.41M 584.38M 593.41M 516.72M 466.45M 264.10M 184.93M
Tangible Assets 7,292.52M 7,436.29M 6,617.66M 4,672.01M 7,273.88M 3,138.52M 2,277.49M 1,134.26M 966.31M 889.78M 781.33M 709.74M 640.41M 544.05M
Tangible Equity 429.71M 1,068.67M 874.48M 805.32M 1,083.58M 245.03M 425.32M -673.22M 69.41M 93.73M 66.62M 100.65M 246.20M 172.01M
Tangible Book Value 429.71M 1,068.67M 874.48M 805.32M 1,083.58M 245.03M 425.32M -673.22M 69.41M 93.73M 66.62M 100.65M 246.20M 172.01M
Total Investments 308.37M 679.48M 602.13M 19.22M 842.51M 703.55M 663.13M 1.87M 1.74M 128.09M 95.09M 64.47M 0.00M 0.00M
Net Debt -1,627.21M -1,769.70M -1,619.51M -1,409.90M -1,215.90M -589.39M -542.21M 129.00M -467.99M -367.10M -290.74M -325.33M -287.39M -168.25M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31
Working Capital 1,826.6M 2,233.6M 2,037.6M 1,765.3M 1,557.2M 933.2M 897.8M 504.2M 470.9M 411.4M 359.8M 373.7M 273.2M 155.0M
Total Capital 1,790.6M 2,224.8M 2,037.5M 1,764.3M 1,536.5M 923.0M 897.0M 501.5M 455.2M 400.5M 356.2M 374.4M 335.7M 256.5M
Capital Employed 1,907.9M 2,312.2M 2,113.7M 1,831.9M 1,631.1M 962.9M 923.5M 529.9M 485.4M 427.8M 385.2M 403.4M 644.1M 543.8M
Invested Capital 153.1M 455.2M 417.9M 354.4M 314.0M 333.6M 354.8M 17.2M -12.8M 33.4M 65.4M 49.1M 48.3M 88.3M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31
Net Income 979.21M 1,012.78M 1,048.45M 960.24M 935.26M 290.46M 498.70M 69.44M 124.67M 114.69M 93.28M 148.37M 77.06M 81.93M
Depreciation & Amortization 22.03M 19.18M 19.91M 17.20M 12.00M 8.92M 7.75M 6.75M 3.93M 6.05M 5.42M 5.80M 2.61M 2.22M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.16M
Change in Working Capital -109.65M -7.38M -9.50M -19.39M 44.25M -47.30M 40.84M -10.87M 43.58M 28.20M -25.13M -0.70M -16.09M -26.64M
Accounts Receivable 0.00M 4.54M 0.00M 0.00M -15.11M -13.26M -6.84M 0.00M -1.00M 1.24M -0.70M -0.64M 0.00M 0.00M
Inventory 0.00M -150.83M 0.00M 0.00M -282.61M -829.29M -562.76M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 0.00M 142.81M 0.00M 0.00M 317.24M 807.25M 629.45M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital -109.65M -3.90M -9.50M -19.39M 24.73M -12.00M -19.02M -10.87M 44.58M 26.96M -24.43M -0.06M -16.09M -26.64M
Other Non-Cash Items -185.49M -220.75M -230.60M -478.79M 157.60M -53.06M -78.16M -4.73M -32.64M -27.07M -17.29M -36.95M 36.49M 28.23M
Net Cash from Operating Activities 706.10M 803.84M 828.26M 479.25M 1,149.11M 199.01M 469.14M 60.58M 139.54M 121.87M 56.28M 116.53M 100.08M 85.90M
Capital Expenditures (PPE) -23.47M -19.92M -19.28M -14.46M -13.74M -8.02M -4.68M -3.20M -1.23M -1.29M -1.55M -1.58M -1.58M -3.45M
Acquisitions (Net) 0.00M 0.01M 0.00M 0.00M 0.01M 0.21M 0.32M 0.00M 0.00M 0.00M 0.00M 0.00M 20.27M 0.40M
Purchases of Investments -519.52M -915.72M -1,020.14M -16.75M -857.66M -712.74M -668.57M -26.27M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 884.06M 873.02M 995.81M 0.00M 832.88M 773.25M 286.55M 11.30M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 14.18M 20.13M 20.73M 312.08M -290.19M 2.19M 2.15M 0.02M 0.03M -2.70M -0.22M 0.11M -0.61M -5.20M
Net Cash from Investing Activities 355.26M -42.48M -22.88M 280.87M -328.70M 54.89M -384.23M -18.14M -1.20M -3.99M -1.77M -1.48M 18.08M -8.25M
Net Debt Issuance -6.98M 0.00M -10.55M 0.00M -5.02M -5.74M -4.37M 0.00M 0.00M 0.00M 0.00M 0.00M -0.26M -0.23M
Long-Term Debt Issuance -6.98M 0.00M -10.55M 0.00M -5.02M -5.74M -4.37M 0.00M 0.00M 0.00M 0.00M 0.00M -0.26M -0.23M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -0.44M -4.02M -0.49M 14.54M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 4.22M 3.73M 7.26M 14.54M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -7.38M 0.00M -7.75M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -640.75M -570.48M -590.20M -570.48M -176.08M -210.12M -28.17M -19.96M -41.08M -37.56M -91.56M -77.52M 0.00M -95.00M
Common Dividends Paid -640.75M -570.48M -590.20M -570.48M -176.08M -210.12M -28.17M -19.96M -41.08M -37.56M -91.56M -77.52M 0.00M -95.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -5.21M -587.20M -0.77M -12.51M -0.84M -0.31M -0.31M -4.94M -0.09M -0.13M -0.13M -0.65M -0.27M -0.04M
Net Cash from Financing Activities -653.38M -1,161.70M -602.01M -568.46M -181.93M -216.17M -32.85M -24.90M -41.18M -37.70M -91.69M -78.17M -0.52M -95.27M
Effect of FX on Cash -20.07M -1.12M 6.25M -4.27M -5.36M 9.46M 5.79M -1.18M 3.72M -3.83M 2.59M 1.06M 1.50M -2.74M
Net Change in Cash 387.91M -401.47M 209.62M 187.40M 633.11M 47.19M 57.85M 16.36M 100.89M 76.36M -34.59M 37.94M 119.14M -20.36M
Cash at Beginning of Period 5,888.83M 5,629.68M 1,409.90M 1,222.50M 589.39M 542.21M 484.35M 467.99M 367.10M 290.74M 325.33M 287.39M 168.25M 188.61M
Cash at End of Period 6,276.74M 5,228.21M 1,619.51M 1,409.90M 1,222.50M 589.39M 542.21M 484.35M 467.99M 367.10M 290.74M 325.33M 287.39M 168.25M
Operating Cash Flow 706.10M 803.84M 828.26M 479.25M 1,149.11M 199.01M 469.14M 60.58M 139.54M 121.87M 56.28M 116.53M 100.08M 85.90M
Capital Expenditure -23.50M -21.04M -20.66M -14.57M -13.74M -8.02M -4.68M -3.30M -1.27M -4.19M -1.78M -1.77M -1.58M -3.45M
Free Cash Flow 682.60M 782.80M 807.60M 464.69M 1,135.36M 190.99M 464.46M 57.29M 138.27M 117.68M 54.50M 114.76M 98.50M 82.45M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31
EBITDA 1,296.82M 1,161.01M 1,220.70M 1,098.50M 1,090.10M 413.13M 623.16M 127.54M 173.99M 183.19M 135.10M 201.59M 101.87M 46.28M
(-) Tax Adjustment 232.22M 205.84M 223.07M 193.41M 197.17M 74.85M 120.72M 21.55M 32.38M 34.68M 22.56M 39.85M 20.96M 10.88M
(-) Change In Working Capital -109.65M -7.38M -9.50M -19.39M 44.25M -47.30M 40.84M -10.87M 43.58M 28.20M -25.13M -0.70M -16.09M -26.64M
(-) Capital Expenditure -23.50M -21.04M -20.66M -14.57M -13.74M -8.02M -4.68M -3.30M -1.27M -4.19M -1.78M -1.77M -1.58M -3.45M
Unlevered Free Cash Flow 1,150.75M 941.52M 986.46M 909.91M 834.94M 377.57M 456.92M 113.56M 96.76M 116.12M 135.89M 160.66M 95.41M 58.59M
(-) Net Interest Income After Taxes 40.34M 55.00M 42.83M 59.17M 28.82M 0.31M 4.63M 4.85M 5.56M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance -6.98M 0.00M -10.55M 0.00M -5.02M -5.74M -4.37M 0.00M 0.00M 0.00M 0.00M 0.00M -0.26M -0.23M
Levered Free Cash Flow 1,103.43M 886.52M 933.08M 850.74M 801.10M 371.52M 447.92M 108.71M 91.19M 116.12M 135.89M 160.66M 95.16M 58.35M