Latest Ratios: P/E Ratio 0.5x · EV/EBITDA 0.7x · ROE 14.4%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $122M | $581M | $984M | $331M | $373M | $801M | $1.4B | $2.6B | $1.3B | $2.4B | — |
| Enterprise Value | $259M | $1.5B | $4.0B | $3.2B | $8.1B | $5.8B | $9.1B | $8.8B | $5.4B | $12.1B | — |
| P/E Ratio → | 0.53 | 0.36 | 0.89 | 0.29 | 0.43 | 0.34 | 2.15 | 1.14 | 0.67 | 9.93 | — |
| P/S Ratio | 0.07 | 0.05 | 0.07 | 0.03 | 0.04 | 0.07 | 0.12 | 0.25 | 0.17 | 0.43 | — |
| P/B Ratio | 0.07 | 0.05 | 0.09 | 0.03 | 0.04 | 0.10 | 0.25 | 0.40 | 0.32 | 1.41 | — |
| P/FCF | 0.25 | 0.18 | 1.18 | 0.13 | — | 0.31 | — | — | 0.48 | 1.47 | — |
| P/OCF | 0.23 | 0.16 | 0.91 | 0.12 | 3.77 | 0.30 | — | — | 0.47 | 1.44 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.12 | 0.28 | 0.25 | 0.83 | 0.51 | 0.79 | 0.84 | 0.71 | 2.20 | — |
| EV / EBITDA | 0.73 | 0.63 | 1.64 | 1.59 | 16.86 | 1.81 | 5.94 | 3.25 | 2.92 | 24.53 | — |
| EV / EBIT | 0.77 | 0.66 | 2.93 | 2.34 | 7.50 | 2.05 | 11.98 | 3.22 | 2.54 | 25.50 | — |
| EV / FCF | — | 0.46 | 4.79 | 1.26 | — | 2.28 | — | — | 1.97 | 7.47 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.7% | 73.7% | 35.4% | 34.7% | 30.9% | 50.8% | 31.4% | 47.3% | 39.8% | 24.0% | 14.0% |
| Operating Margin | 18.0% | 18.0% | 16.1% | 14.4% | 3.4% | 27.1% | 12.4% | 24.9% | 24.1% | 8.6% | 0.3% |
| Net Profit Margin | 13.0% | 13.0% | 7.8% | 8.2% | 8.4% | 20.6% | 5.1% | 21.7% | 26.1% | 4.4% | -2.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.4% | 14.4% | 10.8% | 11.6% | 9.8% | 34.3% | 9.8% | 42.9% | 68.1% | 28.0% | -113.5% |
| ROA | 7.2% | 7.2% | 4.8% | 4.6% | 3.7% | 11.3% | 3.0% | 14.5% | 14.5% | 2.0% | -1.9% |
| ROIC | 10.4% | 10.4% | 11.0% | 8.5% | 1.5% | 15.0% | 7.2% | 16.3% | 12.5% | 3.5% | 0.1% |
| ROCE | 13.9% | 13.9% | 19.5% | 17.8% | 3.2% | 32.0% | 16.1% | 37.8% | 57.7% | 36.5% | 2.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.40 | 0.40 | 0.49 | 0.57 | 1.07 | 0.95 | 1.69 | 1.26 | 1.28 | 6.38 | 557.47 |
| Debt / EBITDA | 2.03 | 2.03 | 2.16 | 2.72 | 19.18 | 2.39 | 6.06 | 3.06 | 2.83 | 21.96 | 496.64 |
| Net Debt / Equity | — | 0.08 | 0.28 | 0.30 | 0.90 | 0.62 | 1.40 | 0.94 | 1.00 | 5.72 | 523.02 |
| Net Debt / EBITDA | 0.39 | 0.39 | 1.24 | 1.43 | 16.08 | 1.56 | 5.04 | 2.29 | 2.21 | 19.68 | 465.94 |
| Debt / FCF | — | 0.28 | 3.61 | 1.13 | — | 1.97 | — | — | 1.49 | 5.99 | 20.94 |
| Interest Coverage | 9.25 | 9.25 | 151.30 | 27.28 | 19.49 | 44.87 | 9.84 | 70.02 | 92.48 | 6.30 | 0.23 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.10 | 4.10 | 1.86 | 1.50 | 1.42 | 1.63 | 1.37 | 1.68 | 1.29 | 0.99 | 0.94 |
| Quick Ratio | 4.10 | 4.10 | 1.86 | 1.50 | 1.42 | 1.63 | 1.37 | 1.68 | 1.29 | 0.99 | 0.94 |
| Cash Ratio | 1.16 | 1.16 | 0.23 | 0.21 | 0.12 | 0.26 | 0.13 | 0.21 | 0.14 | 0.09 | 0.06 |
| Asset Turnover | — | 0.54 | 0.64 | 0.56 | 0.43 | 0.54 | 0.57 | 0.55 | 0.61 | 0.37 | 0.49 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 44.4% | 66.0% | 16.7% | 41.0% | — | — | — | — | — | — | — |
| Payout Ratio | 23.5% | 23.5% | 14.9% | 12.7% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 100.0% | 280.1% | 112.1% | 344.6% | 232.6% | 296.9% | 46.6% | 88.0% | 150.3% | 10.1% | — |
| FCF Yield | 100.0% | 561.8% | 84.8% | 772.6% | — | 317.9% | — | — | 208.4% | 67.8% | — |
| Buyback Yield | 24.6% | 34.8% | 0.0% | 0.0% | 87.6% | 0.0% | 0.0% | 13.0% | 13.0% | 0.0% | — |
| Total Shareholder Yield | 69.0% | 100.0% | 16.7% | 41.0% | 87.6% | 0.0% | 0.0% | 13.0% | 13.0% | 0.0% | — |
| Shares Outstanding | — | $178M | $170M | $180M | $196M | $207M | $206M | $188M | $181M | $172M | $165M |
Includes 30+ ratios · 11 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LX stock.
LexinFintech Holdings Ltd.'s current P/E ratio is 0.5x. The historical average is 1.8x. This places it at the 44th percentile of its historical range.
LexinFintech Holdings Ltd.'s current EV/EBITDA is 0.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.6x.
LexinFintech Holdings Ltd.'s return on equity (ROE) is 14.4%. The historical average is -4.0%.
Based on historical data, LexinFintech Holdings Ltd. is trading at a P/E of 0.5x. This is at the 44th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LexinFintech Holdings Ltd.'s current dividend yield is 44.38% with a payout ratio of 23.5%.
LexinFintech Holdings Ltd. has 73.7% gross margin and 18.0% operating margin. Operating margin between 10-20% is typical for established companies.
LexinFintech Holdings Ltd.'s Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Regulatory APR Cap Sensitivity
Deep Discount Reflects Regulatory Uncertainty
According to current market data, Lexin trades at a P/E of 1.45 and a P/S of 0.17, suggesting that investors are pricing in significant terminal risk rather than the company's historical earnings power or its current 16.3% dividend yield relative to its peer group.
The extreme compression in valuation multiples, particularly the forward P/E of 0.39, implies that the market anticipates a permanent impairment of the firm's credit facilitation model. This valuation gap compared to peers like Qifu Technology suggests that the market may be discounting Lexin's younger borrower demographic as structurally more vulnerable to economic cycles.
Capital Efficiency Remains Subdued Historically
Based on reported financial statements, Lexin's ROIC has fluctuated between 1.0% and 3.2% over the last ten quarters, indicating that the company is struggling to compound capital effectively despite its shift toward a capital-light facilitation model that should theoretically enhance returns on invested capital.
The persistent low ROIC suggests that the high costs associated with customer acquisition and risk management infrastructure continue to erode the benefits of the firm's tech-driven revenue streams. Investors should monitor whether the recent uptick in ROE to 4.5% in 2025Q2 represents a sustainable trend or merely a temporary fluctuation driven by non-operating accounting adjustments.
Working Capital Cycles Require Monitoring
As reported in recent quarterly filings, Lexin's Days Sales Outstanding (DSO) has fluctuated significantly, reaching 129 days in 2025Q2, which highlights the inherent difficulty in managing credit collection cycles within the volatile Chinese consumer finance market compared to more efficient industry peers.
The elevated DSO suggests that the firm's credit engine may be facing challenges in timely loan recovery, which could necessitate higher provisioning in future periods. The lack of consistent data on DIO and DPO further complicates the assessment of the firm's overall cash conversion cycle efficiency.
Structural Valuation Gap Versus Peers
Based on comparative market data, Lexin trades at a significant discount to Qifu Technology, with a P/B of 0.20 compared to Qifu's 0.30, which may indicate that the market perceives Lexin's integration of e-commerce as a liability rather than a competitive moat.
While Lexin's dividend yield of 16.3% is competitive, it remains lower than Qifu's 18.9%, suggesting that the market demands a higher risk premium for Lexin's specific business model. This gap appears structural, likely stemming from the market's skepticism regarding the long-term profitability of the Fenqile platform's retail-integrated credit strategy.
Misapplication of Traditional P/E Multiples
As noted in regulatory disclosures, the use of traditional P/E multiples to value Lexin is fundamentally flawed because it fails to account for the significant volatility introduced by guarantee liabilities and the non-cash nature of credit provisions under ASC 460 and ASC 326.
Investors should instead focus on a risk-adjusted take rate or a price-to-tangible-book-value metric to better capture the underlying value of the credit facilitation platform. Relying on P/E ratios obscures the true economic cost of the firm's credit risk and may lead to an inaccurate assessment of the company's long-term earnings quality.