The company has successfully strengthened its financial position by reducing total debt to $4.9 billion as of 2025Q2, down from $10.0 billion in 2023Q1.
| Total Current Assets | 18.06B | 13.74B | 17.91B | 18.5B | 17.78B | 16.66B | 16.42B | 16.51B | 10.3B | 12.74B | 7.54B | 3.38B |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 8.24B | -3.21B | 7.15B | 7.65B | 6.22B | 7.54B | 6.6B | 10.99B | 1.61B | 568.67M | 180.87M | 38.94M |
| Total Non-Current Assets | 4.46B | 9.43B | 4.33B | 4.64B | 4.99B | 4.37B | 3.93B | 2.73B | 2.17B | 1.99B | 1.18B | 433.94M |
| Property, Plant & Equipment | 803.78M | 895.62M | 613.11M | 446.64M | 284.59M | 195.33M | 125.69M | 92.55M | 82.42M | 63.13M | 41.75M | 11.95M |
| Fixed Asset Turnover | 21.29x | 14.28x | 23.17x | 29.23x | 34.67x | 58.26x | 92.65x | 114.57x | 92.17x | 88.43x | 103.93x | 211.29x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 845.67M | 828.47M | 862.87M | 897.27M | 931.67M | 966.07M | 1B | 1.42B | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.02B | 336.12M | 284.2M | 255M | 348.38M | 469.06M | 521.8M | 511.61M | 186.07M | 23.48M | 24.89M | 11.58M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 22.51B | 23.18B | 22.24B | 23.14B | 22.77B | 21.03B | 20.35B | 19.24B | 12.47B | 14.73B | 8.72B | 3.82B |
| Asset Turnover | 0.62x | 0.55x | 0.64x | 0.56x | 0.43x | 0.54x | 0.57x | 0.55x | 0.61x | 0.38x | 0.50x | 0.66x |
| Asset Growth % | -13.94% | 4.21% | -3.89% | 1.63% | 8.3% | 3.35% | 5.76% | 54.25% | -15.34% | 68.91% | 128.45% | - |
| Total Current Liabilities | 9.58B | 3.35B | 9.6B | 12.32B | 12.48B | 10.19B | 12.02B | 9.8B | 8.02B | 12.86B | 7.99B | 3.59B |
| Accounts Payable | 72.05M | 955.1M | 929.25M | 1.12B | 408.51M | 441.47M | 713.9M | 1.24B | 1.17B | 647.3M | 326M | 32.28M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 3.65B | 3.35B | 3.45B | 4.49B | 7.62B | 4.9B | 6.51B | 5.73B | 5.08B | 10.69B | 7.04B | 3.16B |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 675.97M | -5.79B | 1.75B | 3.17B | 1.74B | 2.42B | 2B | 3.18B | 856.15M | 547.54M | 46.48M | 505K |
| Current Ratio | 1.89x | 4.10x | 1.86x | 1.50x | 1.42x | 1.63x | 1.37x | 1.68x | 1.29x | 0.99x | 0.94x | 0.94x |
| Quick Ratio | 1.89x | 4.10x | 1.86x | 1.50x | 1.42x | 1.63x | 1.37x | 1.68x | 1.29x | 0.99x | 0.94x | 0.94x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.33B | 7.87B | 1.9B | 1.11B | 1.64B | 2.77B | 2.79B | 2.83B | 345.07M | 166.92M | 720.96M | 31.08M |
| Long-Term Debt | 1.22B | 1.42B | 1.78B | 980.07M | 1.48B | 2.58B | 2.75B | 2.5B | 157.89M | 166.92M | 720.96M | 31.08M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 10.91B | 11.22B | 11.5B | 13.43B | 14.12B | 12.96B | 14.81B | 12.64B | 8.36B | 13.03B | 8.71B | 3.62B |
| Total Debt | 4.88B | 4.8B | 5.27B | 5.51B | 9.26B | 7.67B | 9.33B | 8.3B | 5.24B | 10.86B | 7.76B | 3.19B |
| Net Debt | 2.8B | 919.05M | 3.01B | 2.89B | 7.76B | 5.01B | 7.77B | 6.22B | 4.09B | 9.73B | 7.28B | 3.05B |
| Debt / Equity | 0.42x | 0.40x | 0.49x | 0.57x | 1.07x | 0.95x | 1.69x | 1.26x | 1.28x | 6.38x | 557.47x | 16.46x |
| Debt / EBITDA | 2.70x | 2.03x | 2.16x | 2.72x | 19.18x | 2.39x | 6.06x | 3.06x | 2.83x | 21.96x | 496.64x | - |
| Net Debt / EBITDA | 1.55x | 0.39x | 1.24x | 1.43x | 16.08x | 1.56x | 5.04x | 2.29x | 2.21x | 19.68x | 465.94x | - |
| Interest Coverage | 153.26x | 9.25x | 151.30x | 27.28x | 19.49x | 44.87x | 9.84x | 70.02x | 92.48x | 6.30x | 0.23x | -205.87x |
| Total Equity | 11.6B | 11.96B | 10.74B | 9.71B | 8.65B | 8.07B | 5.53B | 6.6B | 4.11B | 1.7B | 13.92M | 193.87M |
| Equity Growth % | 45.06% | 11.36% | 10.61% | 12.27% | 7.2% | 45.87% | -16.2% | 60.7% | 141.36% | 12124.48% | -92.82% | - |
| Book Value per Share | 64.75 | 67.36 | 63.31 | 53.97 | 44.04 | 38.88 | 26.90 | 35.12 | 22.64 | 9.88 | 0.08 | 3.50 |
| Total Shareholders' Equity | 11.6B | 11.96B | 10.74B | 9.71B | 8.65B | 8.03B | 5.49B | 6.6B | 4.11B | 1.7B | 13.92M | 193.87M |
| Common Stock | 246K | 250.15K | 246K | 240K | 238K | 237K | 234K | 231K | 226K | 210K | 68K | 1.26M |
| Retained Earnings | 7.4B | 7.82B | 7.78B | 5.74B | 4.89B | 4.2B | 2.11B | 3.73B | 1.59B | -450.55M | -630.66M | -429.85M |
| Treasury Stock | -293.81M | -494.16M | -328.76M | -328.76M | -328.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.15B | 1.23B | -29.56M | 1.09B | 1B | 912.6M | 652.54M | 345.02M | 185.95M | 40.91M | 18.95M | 15.14M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 40.19M | 40M | 0 | 0 | 0 | 0 | 0 |
Regulatory APR Cap Sensitivity
As reported in recent financial statements, Lexin's total assets have contracted from $24.6 billion in 2023Q1 to $22.5 billion in 2025Q2, reflecting a deliberate strategic pivot toward a capital-light model that prioritizes balance sheet preservation over aggressive expansion in a volatile Chinese consumer credit environment.
The reduction in total assets, paired with a significant decline in total debt from $10.0 billion to $4.9 billion over the same period, suggests management is successfully de-risking the balance sheet. This trajectory indicates a shift toward fee-based revenue streams, which may offer more stability but potentially lower top-line growth in the long term.
Based on the provided figures, Lexin has aggressively reduced its debt-to-equity ratio from 1.11 in 2023Q1 to 0.42 by 2025Q2, signaling a conservative approach to capital structure that likely aims to mitigate interest rate sensitivity and regulatory scrutiny within the domestic Chinese financial services sector.
The consistent decline in debt levels suggests that the firm is successfully transitioning away from on-balance sheet funding, which reduces the burden of credit risk provisions. Investors should monitor whether this deleveraging trend continues to compress interest income, as the firm relies more heavily on facilitation fees rather than net interest margin.
According to quarterly filings, Lexin maintains a current ratio of 1.89 as of 2025Q2, providing a robust liquidity buffer that appears sufficient to navigate potential short-term shocks in consumer demand or unexpected shifts in the regulatory landscape governing the Chinese fintech platform economy.
The maintenance of a healthy current ratio, despite the contraction in total assets, suggests that the company is prioritizing liquid assets to manage its short-term obligations. This liquidity position appears to be a defensive mechanism against the inherent volatility of the credit facilitation business model.
As indicated by historical data, Lexin's equity base has expanded from $9.0 billion in 2023Q1 to $11.6 billion in 2025Q2, primarily driven by the consistent accumulation of retained earnings, which grew from $5.2 billion to $7.4 billion over the same ten-quarter period.
The steady growth in retained earnings suggests that the firm has been profitable on a cumulative basis, even amidst revenue headwinds. However, the lack of capital returns to shareholders warrants further investigation into whether management views this capital as necessary for future regulatory compliance or potential strategic investments.
Based on reported figures, Lexin carries $845.7 million in goodwill as of 2025Q2, representing a non-trivial portion of the equity base that warrants monitoring for potential impairment if the firm's core credit facilitation business faces sustained pressure from regulatory APR caps or declining consumer credit quality.
While the balance sheet appears healthy, the presence of significant goodwill suggests that past acquisitions may be sensitive to the firm's current valuation and operational performance. Any material deterioration in the credit engine's profitability could necessitate a write-down, which would negatively impact the firm's book value and perceived financial strength.
Quick answers to the most common questions about buying LX stock.
As of 2025, LexinFintech Holdings Ltd. (LX) had total assets of $23.18B including $13.74B in current assets.
LexinFintech Holdings Ltd. (LX) carries total debt of $4.80B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
LexinFintech Holdings Ltd. (LX) has total shareholders' equity (book value) of $11.96B ($67.36 book value per share). Book value represents the net worth of the company belonging to common stock holders.
LexinFintech Holdings Ltd. (LX) reported a current ratio of 4.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.