XPEL, Inc. (XPEL) 10-Year Financial Performance & Capital Metrics

XPEL • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentAftermarket Parts & RetailReplacement Parts Manufacturers

AboutXPEL, Inc. manufactures, sells, distributes, and installs after-market automotive products. The company offers automotive surface and paint protection films, headlight protection, and automotive and architectural window films, as well as proprietary software. It also provides merchandise and apparel; ceramic coatings; and tools and accessories, which includes squeegees and microfiber towels, application fluids, plotter cutters, knives, and other products. In addition, the company offers paint protection kits, car wash products, after-care products, and installation tools through its website. It sells its products to independent installers and new car dealerships, third-party distributors, and company-owned installation centers, as well as through franchisees and online sales channels. The company serves in the United States, China, Canada, Continental Europe, the United Kingdom, Asia Pacific, Latin America, the Middle East/Africa, and internationally. XPEL, Inc. was founded in 1997 and is headquartered in San Antonio, Texas.Show more

Revenue $420M +6.1%
EBITDA $71M -7.5%
Net Income $45M -13.8%
EPS (Diluted) 1.65 -13.6%
Gross Margin 42.19% +2.9%
EBITDA Margin 16.85% -12.8%
Operating Margin 14.07% -16.7%
Net Margin 10.82% -18.8%
ROE 22.44% -35.3%
ROIC 20.69% -25.2%
Debt/Equity 0.09 -53.3%
Interest Coverage 59.38 +10.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 32.2%
✓Strong 5Y profit CAGR of 26.6%
✓Momentum leader: RS Rating 87 (top 13%)
✓Strong 5Y sales CAGR of 26.5%
✓Healthy 5Y average net margin of 12.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y30.37%

5Y26.47%

3Y17.48%

TTM10.29%

Profit (Net Income) CAGR

10Y30.83%

5Y26.62%

3Y12.95%

TTM-3.8%

EPS CAGR

10Y29.97%

5Y26.47%

3Y13.12%

TTM-3.43%

ROCE

10Y Avg37.81%

5Y Avg37.28%

3Y Avg32.65%

Latest25.74%

Peer Comparison

Replacement Parts Manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INEOINNEOVA Holdings Ltd	9.76M	0.59	655.56	-2%	1.38%	18.29%	19.39%	2.30
GTThe Goodyear Tire & Rubber Company	2.67B	9.32	38.83	-5.92%	-9.56%	-55.07%		1.79
XPELXPEL, Inc.	1.5B	54.30	32.91	6.08%	10.12%	17.06%	2.74%	0.09
DORMDorman Products, Inc.	3.94B	128.79	20.98	4.11%	11.62%	16.67%	4.87%	0.44
SMPStandard Motor Products, Inc.	882.61M	40.12	16.64	7.77%	3.95%	9.98%	3.7%	1.05
MPAAMotorcar Parts of America, Inc.	265.99M	13.60	-13.74	5.53%	0.31%	0.95%	15.38%	0.78

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	41.47M	51.76M	67.75M	109.92M	129.93M	158.92M	259.26M	323.99M	396.29M	420.4M
Revenue Growth %	0.4%	0.25%	0.31%	0.62%	0.18%	0.22%	0.63%	0.25%	0.22%	0.06%
Cost of Goods Sold+	29.15M	37.74M	50.98M	76.48M	86.43M	104.9M	166.59M	196.48M	233.88M	243.04M
COGS % of Revenue	0.7%	0.73%	0.75%	0.7%	0.67%	0.66%	0.64%	0.61%	0.59%	0.58%
Gross Profit+	12.32M	14.01M	16.77M	33.44M	43.51M	54.02M	92.68M	127.51M	162.41M	177.36M
Gross Margin %	0.3%	0.27%	0.25%	0.3%	0.33%	0.34%	0.36%	0.39%	0.41%	0.42%
Gross Profit Growth %	0.33%	0.14%	0.2%	0.99%	0.3%	0.24%	0.72%	0.38%	0.27%	0.09%
Operating Expenses+	9.71M	10.76M	14.54M	21.6M	26.42M	30.66M	52.56M	73.58M	95.44M	118.21M
OpEx % of Revenue	0.23%	0.21%	0.21%	0.2%	0.2%	0.19%	0.2%	0.23%	0.24%	0.28%
Selling, General & Admin	9.25M	10.17M	13.17M	21.6M	26.42M	30.66M	52.56M	73.58M	95.44M	118.21M
SG&A % of Revenue	0.22%	0.2%	0.19%	0.2%	0.2%	0.19%	0.2%	0.23%	0.24%	0.28%
Research & Development	360.4K	460.14K	0	223.89K	0	0	0	0	0	2.9M
R&D % of Revenue	0.01%	0.01%	-	0%	-	-	-	-	-	0.01%
Other Operating Expenses	0	595.7K	1.37M	0	0	0	0	0	0	-2.9M
Operating Income+	2.61M	3.25M	2.24M	11.83M	17.09M	23.37M	40.12M	53.94M	66.97M	59.15M
Operating Margin %	0.06%	0.06%	0.03%	0.11%	0.13%	0.15%	0.15%	0.17%	0.17%	0.14%
Operating Income Growth %	-0.07%	0.25%	-0.31%	4.29%	0.44%	0.37%	0.72%	0.34%	0.24%	-0.12%
EBITDA+	3.5M	4.39M	3.37M	13.21M	18.78M	25.6M	44.5M	61.77M	76.56M	70.84M
EBITDA Margin %	0.08%	0.08%	0.05%	0.12%	0.14%	0.16%	0.17%	0.19%	0.19%	0.17%
EBITDA Growth %	0.07%	0.26%	-0.23%	2.92%	0.42%	0.36%	0.74%	0.39%	0.24%	-0.07%
D&A (Non-Cash Add-back)	891.37K	1.14M	1.13M	1.38M	1.7M	2.23M	4.39M	7.83M	9.59M	11.7M
EBIT	2.66M	3.25M	2.48M	11.65M	17.05M	23.05M	39.74M	53.38M	67.28M	57.77M
Net Interest Income+	-224.64K	-223.04K	-328.4K	-168.39K	-96.65K	-249K	-303K	-1.41M	-1.25M	-996K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	224.64K	223.04K	328.4K	168.39K	96.65K	249K	303K	1.41M	1.25M	996K
Other Income/Expense	-174.22K	-222.98K	-62.95K	-324.7K	-136.92K	-565K	-676K	-1.97M	-941K	-2.37M
Pretax Income+	2.43M	3.03M	2.16M	11.48M	16.95M	22.8M	39.44M	51.97M	66.03M	56.78M
Pretax Margin %	0.06%	0.06%	0.03%	0.1%	0.13%	0.14%	0.15%	0.16%	0.17%	0.14%
Income Tax+	963.38K	866.08K	1.03M	2.76M	2.96M	4.52M	7.87M	10.58M	13.23M	11.29M
Effective Tax Rate %	0.64%	0.73%	0.55%	0.76%	0.82%	0.8%	0.8%	0.8%	0.8%	0.8%
Net Income+	1.55M	2.22M	1.19M	8.71M	13.98M	18.28M	31.57M	41.38M	52.8M	45.49M
Net Margin %	0.04%	0.04%	0.02%	0.08%	0.11%	0.12%	0.12%	0.13%	0.13%	0.11%
Net Income Growth %	-0.5%	0.43%	-0.46%	6.34%	0.6%	0.31%	0.73%	0.31%	0.28%	-0.14%
Net Income (Continuing)	1.47M	2.16M	994.33K	8.72M	14M	18.28M	31.57M	41.38M	52.8M	45.49M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-3.18K	-55.18K	-108.18K	-190.03K	-168.68K	0	0	0	0	0
EPS (Diluted)+	0.06	0.08	0.04	0.32	0.51	0.66	1.14	1.50	1.91	1.65
EPS Growth %	-0.53%	0.47%	-0.52%	7%	0.59%	0.29%	0.73%	0.32%	0.27%	-0.14%
EPS (Basic)	0.06	0.08	0.04	0.32	0.51	0.66	1.14	1.50	1.91	1.65
Diluted Shares Outstanding	25.78M	25.78M	27.33M	27.61M	27.61M	27.61M	27.61M	27.62M	27.63M	27.64M
Basic Shares Outstanding	25.78M	25.78M	27.33M	27.61M	27.61M	27.61M	27.61M	27.61M	27.62M	27.64M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	14.09M	14.95M	19.91M	21.03M	36.28M	62.78M	79.03M	106.82M	146.45M	168.34M
Cash & Short-Term Investments	2.84M	1.86M	3.5M	3.97M	11.5M	29.03M	9.64M	8.06M	11.61M	22.09M
Cash Only	2.84M	1.86M	3.5M	3.97M	11.5M	29.03M	9.64M	8.06M	11.61M	22.09M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.75M	4.83M	5.45M	5.55M	7.25M	9.94M	13.78M	14.73M	24.81M	30.04M
Days Sales Outstanding	33.02	34.04	29.34	18.44	20.36	22.84	19.39	16.59	22.85	26.08
Inventory	6.97M	7.81M	10.15M	10.8M	15.14M	22.36M	51.94M	80.58M	106.51M	110.9M
Days Inventory Outstanding	87.3	75.49	72.69	51.54	63.94	77.82	113.79	149.68	166.22	166.56
Other Current Assets	0	0	0	0	0	0	343	3.46M	3.53M	5.31M
Total Non-Current Assets+	5.44M	6.85M	9.14M	9.51M	15.32M	21.06M	81.99M	86.54M	105.59M	117.26M
Property, Plant & Equipment	1.24M	1.35M	2.15M	3.38M	9.09M	10.68M	22.81M	29.51M	32.44M	37.23M
Fixed Asset Turnover	33.57x	38.28x	31.46x	32.48x	14.29x	14.88x	11.37x	10.98x	12.22x	11.29x
Goodwill	1.67M	1.89M	2.49M	2.32M	2.41M	4.47M	25.66M	26.76M	37.46M	44.13M
Intangible Assets	2.43M	3.47M	4.11M	3.8M	3.82M	5.42M	32.73M	29.29M	34.91M	34.56M
Long-Term Investments	-100.66K	-135.36K	0	0	0	-2.08M	0	0	0	0
Other Non-Current Assets	100.66K	135.36K	0	-385.4K	0	486.47K	791K	972K	782K	1.35M
Total Assets+	19.53M	21.8M	29.05M	30.54M	51.6M	83.84M	161.01M	193.36M	252.04M	285.61M
Asset Turnover	2.12x	2.37x	2.33x	3.60x	2.52x	1.90x	1.61x	1.68x	1.57x	1.47x
Asset Growth %	0.55%	0.12%	0.33%	0.05%	0.69%	0.62%	0.92%	0.2%	0.3%	0.13%
Total Current Liabilities+	8.8M	9.54M	13.71M	8.48M	11.79M	21.2M	36.27M	27.4M	36.47M	41.52M
Accounts Payable	4.47M	5.86M	6.48M	3.91M	7.44M	12.99M	25.18M	16.69M	24.23M	26.32M
Days Payables Outstanding	55.91	56.67	46.36	18.64	31.42	45.19	55.16	31	37.82	39.52
Short-Term Debt	4.22M	3.51M	3.02M	853.15K	462.23K	2.57M	375K	77K	62K	63K
Deferred Revenue (Current)	0	0	0	136.21K	559.23K	244.84K	818K	261K	761K	821K
Other Current Liabilities	117.65K	168.69K	4.11M	2.53M	829.82K	1.3M	1.53M	2.23M	3.15M	4.32M
Current Ratio	1.60x	1.57x	1.45x	2.48x	3.08x	2.96x	2.18x	3.90x	4.02x	4.05x
Quick Ratio	0.81x	0.75x	0.71x	1.21x	1.79x	1.91x	0.75x	0.96x	1.10x	1.38x
Cash Conversion Cycle	64.4	52.86	55.66	51.35	52.88	55.47	78.03	135.27	151.25	153.12
Total Non-Current Liabilities+	2.39M	1.96M	1.48M	1.45M	4.92M	9.26M	40.28M	41.24M	35.58M	18.63M
Long-Term Debt	1.83M	1.43M	927.43K	968.24K	307.28K	3.57M	25.08M	26M	19.32M	229K
Capital Lease Obligations	0	0	0	0	4.01M	4.33M	9.83M	12.12M	12.71M	16.13M
Deferred Tax Liabilities	558.12K	524.27K	463.14K	478.86K	604.72K	627.81K	2.75M	2.05M	2.66M	469K
Other Non-Current Liabilities	0	0	0	0	0	729.41K	2.63M	1.07M	890K	1.81M
Total Liabilities	11.18M	11.5M	15.19M	9.93M	16.71M	30.46M	76.55M	68.64M	72.05M	60.15M
Total Debt+	6.04M	4.95M	4.08M	1.82M	5.91M	12.12M	38.26M	42.08M	36.06M	21.08M
Net Debt	3.2M	3.09M	584.02K	-2.15M	-5.59M	-16.91M	28.61M	34.02M	24.45M	-1M
Debt / Equity	0.72x	0.48x	0.29x	0.09x	0.17x	0.23x	0.45x	0.34x	0.20x	0.09x
Debt / EBITDA	1.73x	1.13x	1.21x	0.14x	0.31x	0.47x	0.86x	0.68x	0.47x	0.30x
Net Debt / EBITDA	0.92x	0.70x	0.17x	-0.16x	-0.30x	-0.66x	0.64x	0.55x	0.32x	-0.01x
Interest Coverage	11.61x	14.58x	6.81x	70.26x	176.80x	93.86x	132.40x	38.25x	53.66x	59.38x
Total Equity+	8.34M	10.29M	13.85M	20.61M	34.89M	53.38M	84.46M	124.72M	179.99M	225.46M
Equity Growth %	0.11%	0.23%	0.35%	0.49%	0.69%	0.53%	0.58%	0.48%	0.44%	0.25%
Book Value per Share	0.32	0.40	0.51	0.75	1.26	1.93	3.06	4.52	6.51	8.16
Total Shareholders' Equity	8.34M	10.35M	13.96M	20.8M	35.06M	53.38M	84.46M	124.72M	179.99M	225.46M
Common Stock	6.64M	6.64M	9.21M	27.61K	27.61K	27.61K	28K	28K	28K	28K
Retained Earnings	166.58K	2.38M	3.57M	10.62M	24.59M	42.88M	74.44M	115.82M	168.62M	214.11M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-621.99K	-833.73K	-984.28K	-1.19M	-908.76K	66.22K	-590K	-2.2M	-1.21M	-4.24M
Minority Interest	-3.18K	-55.18K	-108.18K	-190.03K	-168.68K	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.41M	2.93M	3.95M	6.8M	10.97M	18.47M	18.27M	12.06M	37.38M	47.82M
Operating CF Margin %	0.03%	0.06%	0.06%	0.06%	0.08%	0.12%	0.07%	0.04%	0.09%	0.11%
Operating CF Growth %	1.35%	1.08%	0.35%	0.72%	0.61%	0.68%	-0.01%	-0.34%	2.1%	0.28%
Net Income	1.47M	2.16M	1.13M	8.72M	14M	18.28M	31.57M	41.38M	52.8M	45.49M
Depreciation & Amortization	891.37K	1.14M	1.77M	1.38M	1.7M	2.23M	4.39M	7.83M	9.59M	11.7M
Stock-Based Compensation	0	0	0	0	0	0	169K	522K	1.64M	3.2M
Deferred Taxes	211.87K	-97.85K	-255.24K	-86.22K	117.33K	-273K	1.01M	-471K	-921K	-2.75M
Other Non-Cash Items	-134.31K	59.34K	78.96K	43.42K	358.47K	176K	291K	466K	230K	341K
Working Capital Changes	-1.12M	-442.9K	1.22M	-3.48M	-5.2M	-1.95M	-19.16M	-37.67M	-25.96M	-10.15M
Change in Receivables	-677.42K	-1.25M	-814.23K	-261.26K	-1.77M	-2.43M	-432K	-2.63M	-7M	-5.6M
Change in Inventory	-321.56K	-637.53K	-1.86M	11.15K	-4.25M	-6.76M	-26.94M	-28.57M	-24.84M	-4.79M
Change in Payables	242.83K	1.17M	3.14M	-3.64M	3.88M	6.36M	0	0	0	2.69M
Cash from Investing+	-3.22M	-2.18M	-3.31M	-3.09M	-2.3M	-4.66M	-56.81M	-14.16M	-26.35M	-18.4M
Capital Expenditures	-1.21M	-1.36M	-2.21M	-2.42M	-1.57M	-1.78M	-6.72M	-7.94M	-6.36M	-6.71M
CapEx % of Revenue	0.03%	0.03%	0.03%	0.02%	0.01%	0.01%	0.03%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-763.71K	3.48K	39.5K	155.28K	-606.12K	-313K	-898K	-1.55M	-1.26M	-1.84M
Cash from Financing+	3.3M	-1.65M	1.56M	-3.1M	-1.14M	3.51M	19.24M	602K	-7.26M	-19.25M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-150K	0	-38.02K	0	0	-785K	0	-30K	-167K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	193.28K	1.57M	1.75M	4.38M	8.72M	16.31M	10.58M	2.5M	29.74M	41.11M
FCF Margin %	0%	0.03%	0.03%	0.04%	0.07%	0.1%	0.04%	0.01%	0.08%	0.1%
FCF Growth %	1.59%	7.11%	0.11%	1.51%	0.99%	0.87%	-0.35%	-0.76%	10.89%	0.38%
FCF per Share	0.01	0.06	0.06	0.16	0.32	0.59	0.38	0.09	1.08	1.49
FCF Conversion (FCF/Net Income)	0.91x	1.32x	3.33x	0.78x	0.78x	1.01x	0.58x	0.29x	0.71x	1.05x
Interest Paid	157.19K	163.71K	245.99K	86.42K	17.85K	178K	210K	1.31M	1.24M	1.03M
Taxes Paid	910K	685K	452.17K	2.51M	4.08M	4.46M	7.76M	9.9M	15.29M	13.62M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	19.65%	23.78%	9.83%	50.56%	50.36%	41.42%	45.8%	39.56%	34.66%	22.44%
Return on Invested Capital (ROIC)	21.1%	19.57%	12.06%	53.94%	53.66%	53.3%	40.24%	29.76%	27.66%	20.69%
Gross Margin	29.7%	27.08%	24.76%	30.42%	33.48%	33.99%	35.75%	39.36%	40.98%	42.19%
Net Margin	3.75%	4.28%	1.75%	7.93%	10.76%	11.5%	12.18%	12.77%	13.32%	10.82%
Debt / Equity	0.72x	0.48x	0.29x	0.09x	0.17x	0.23x	0.45x	0.34x	0.20x	0.09x
Interest Coverage	11.61x	14.58x	6.81x	70.26x	176.80x	93.86x	132.40x	38.25x	53.66x	59.38x
FCF Conversion	0.91x	1.32x	3.33x	0.78x	0.78x	1.01x	0.58x	0.29x	0.71x	1.05x
Revenue Growth	39.96%	24.81%	30.89%	62.25%	18.21%	22.31%	63.14%	24.97%	22.32%	6.08%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product Revenue, Paint Protection Film	97.34M	110.79M	169.88M	192.37M	229.88M	226.71M
Product Revenue, Paint Protection Film Growth	-	13.81%	53.34%	13.24%	19.50%	-1.38%
Product Revenue, Window Film	11.38M	20.95M	38.36M	54.37M	67.95M	77.67M
Product Revenue, Window Film Growth	-	84.03%	83.11%	41.72%	24.98%	14.30%
Service Revenue, Installation Labor	6.62M	10.93M	24.25M	42.83M	58.48M	74.48M
Service Revenue, Installation Labor Growth	-	65.03%	121.98%	76.59%	36.54%	27.36%
Service Revenue, Cutbank Credits	7.25M	7.78M	12.37M	16.32M	17.63M	17.02M
Service Revenue, Cutbank Credits Growth	-	7.32%	58.93%	31.89%	8.02%	-3.47%
Product Revenue, Other	3.48M	4.53M	9.04M	11.43M	13.57M	14.47M
Product Revenue, Other Growth	-	30.10%	99.76%	26.44%	18.77%	6.62%
Service Revenue, Software	3.26M	3.49M	4.37M	5.21M	6.52M	8.06M
Service Revenue, Software Growth	-	6.92%	25.33%	19.21%	25.03%	23.67%
Service Revenue, Training	590.61K	462.95K	982.7K	1.46M	2.27M	2M
Service Revenue, Training Growth	-	-21.61%	112.27%	48.67%	55.10%	-11.87%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	60.45M	75.08M	-	-	-	-
UNITED STATES Growth	-	24.19%	-	-	-	-
CHINA	30.49M	32.81M	-	-	-	-
CHINA Growth	-	7.60%	-	-	-	-
CANADA	17.91M	20.52M	-	-	-	-
CANADA Growth	-	14.58%	-	-	-	-
Europe	7.42M	12.77M	-	-	-	-
Europe Growth	-	72.15%	-	-	-	-
Asia Pacific	4.37M	5.26M	-	-	-	-
Asia Pacific Growth	-	20.42%	-	-	-	-
Middle East, Africa	3.15M	5.17M	-	-	-	-
Middle East, Africa Growth	-	64.09%	-	-	-	-
Latin America	2.1M	2.27M	-	-	-	-
Latin America Growth	-	8.36%	-	-	-	-
Other Geographic Region	254.91K	319.9K	-	-	-	-
Other Geographic Region Growth	-	25.49%	-	-	-	-

Frequently Asked Questions

Valuation & Price

XPEL, Inc. (XPEL) has a price-to-earnings (P/E) ratio of 32.9x. This suggests investors expect higher future growth.

Growth & Financials

XPEL, Inc. (XPEL) reported $461.5M in revenue for fiscal year 2024. This represents a 7538% increase from $6.0M in 2011.

XPEL, Inc. (XPEL) grew revenue by 6.1% over the past year. This is steady growth.

Yes, XPEL, Inc. (XPEL) is profitable, generating $46.7M in net income for fiscal year 2024 (10.8% net margin).

Dividend & Returns

XPEL, Inc. (XPEL) has a return on equity (ROE) of 22.4%. This is excellent, indicating efficient use of shareholder capital.

XPEL, Inc. (XPEL) generated $65.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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XPEL, Inc. (XPEL) 10-Year Financial Performance & Capital Metrics

XPEL • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentAftermarket Parts & RetailReplacement Parts Manufacturers

Revenue $420M +6.1%
EBITDA $71M -7.5%
Net Income $45M -13.8%
EPS (Diluted) 1.65 -13.6%
Gross Margin 42.19% +2.9%
EBITDA Margin 16.85% -12.8%
Operating Margin 14.07% -16.7%
Net Margin 10.82% -18.8%
ROE 22.44% -35.3%
ROIC 20.69% -25.2%
Debt/Equity 0.09 -53.3%
Interest Coverage 59.38 +10.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 32.2%
✓Strong 5Y profit CAGR of 26.6%
✓Momentum leader: RS Rating 87 (top 13%)
✓Strong 5Y sales CAGR of 26.5%
✓Healthy 5Y average net margin of 12.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y30.37%

5Y26.47%

3Y17.48%

TTM10.29%

Profit (Net Income) CAGR

10Y30.83%

5Y26.62%

3Y12.95%

TTM-3.8%

EPS CAGR

10Y29.97%

5Y26.47%

3Y13.12%

TTM-3.43%

ROCE

10Y Avg37.81%

5Y Avg37.28%

3Y Avg32.65%

Latest25.74%

Peer Comparison

Replacement Parts Manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INEOINNEOVA Holdings Ltd	9.76M	0.59	655.56	-2%	1.38%	18.29%	19.39%	2.30
GTThe Goodyear Tire & Rubber Company	2.67B	9.32	38.83	-5.92%	-9.56%	-55.07%		1.79
XPELXPEL, Inc.	1.5B	54.30	32.91	6.08%	10.12%	17.06%	2.74%	0.09
DORMDorman Products, Inc.	3.94B	128.79	20.98	4.11%	11.62%	16.67%	4.87%	0.44
SMPStandard Motor Products, Inc.	882.61M	40.12	16.64	7.77%	3.95%	9.98%	3.7%	1.05
MPAAMotorcar Parts of America, Inc.	265.99M	13.60	-13.74	5.53%	0.31%	0.95%	15.38%	0.78

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	41.47M	51.76M	67.75M	109.92M	129.93M	158.92M	259.26M	323.99M	396.29M	420.4M
Revenue Growth %	0.4%	0.25%	0.31%	0.62%	0.18%	0.22%	0.63%	0.25%	0.22%	0.06%
Cost of Goods Sold+	29.15M	37.74M	50.98M	76.48M	86.43M	104.9M	166.59M	196.48M	233.88M	243.04M
COGS % of Revenue	0.7%	0.73%	0.75%	0.7%	0.67%	0.66%	0.64%	0.61%	0.59%	0.58%
Gross Profit+	12.32M	14.01M	16.77M	33.44M	43.51M	54.02M	92.68M	127.51M	162.41M	177.36M
Gross Margin %	0.3%	0.27%	0.25%	0.3%	0.33%	0.34%	0.36%	0.39%	0.41%	0.42%
Gross Profit Growth %	0.33%	0.14%	0.2%	0.99%	0.3%	0.24%	0.72%	0.38%	0.27%	0.09%
Operating Expenses+	9.71M	10.76M	14.54M	21.6M	26.42M	30.66M	52.56M	73.58M	95.44M	118.21M
OpEx % of Revenue	0.23%	0.21%	0.21%	0.2%	0.2%	0.19%	0.2%	0.23%	0.24%	0.28%
Selling, General & Admin	9.25M	10.17M	13.17M	21.6M	26.42M	30.66M	52.56M	73.58M	95.44M	118.21M
SG&A % of Revenue	0.22%	0.2%	0.19%	0.2%	0.2%	0.19%	0.2%	0.23%	0.24%	0.28%
Research & Development	360.4K	460.14K	0	223.89K	0	0	0	0	0	2.9M
R&D % of Revenue	0.01%	0.01%	-	0%	-	-	-	-	-	0.01%
Other Operating Expenses	0	595.7K	1.37M	0	0	0	0	0	0	-2.9M
Operating Income+	2.61M	3.25M	2.24M	11.83M	17.09M	23.37M	40.12M	53.94M	66.97M	59.15M
Operating Margin %	0.06%	0.06%	0.03%	0.11%	0.13%	0.15%	0.15%	0.17%	0.17%	0.14%
Operating Income Growth %	-0.07%	0.25%	-0.31%	4.29%	0.44%	0.37%	0.72%	0.34%	0.24%	-0.12%
EBITDA+	3.5M	4.39M	3.37M	13.21M	18.78M	25.6M	44.5M	61.77M	76.56M	70.84M
EBITDA Margin %	0.08%	0.08%	0.05%	0.12%	0.14%	0.16%	0.17%	0.19%	0.19%	0.17%
EBITDA Growth %	0.07%	0.26%	-0.23%	2.92%	0.42%	0.36%	0.74%	0.39%	0.24%	-0.07%
D&A (Non-Cash Add-back)	891.37K	1.14M	1.13M	1.38M	1.7M	2.23M	4.39M	7.83M	9.59M	11.7M
EBIT	2.66M	3.25M	2.48M	11.65M	17.05M	23.05M	39.74M	53.38M	67.28M	57.77M
Net Interest Income+	-224.64K	-223.04K	-328.4K	-168.39K	-96.65K	-249K	-303K	-1.41M	-1.25M	-996K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	224.64K	223.04K	328.4K	168.39K	96.65K	249K	303K	1.41M	1.25M	996K
Other Income/Expense	-174.22K	-222.98K	-62.95K	-324.7K	-136.92K	-565K	-676K	-1.97M	-941K	-2.37M
Pretax Income+	2.43M	3.03M	2.16M	11.48M	16.95M	22.8M	39.44M	51.97M	66.03M	56.78M
Pretax Margin %	0.06%	0.06%	0.03%	0.1%	0.13%	0.14%	0.15%	0.16%	0.17%	0.14%
Income Tax+	963.38K	866.08K	1.03M	2.76M	2.96M	4.52M	7.87M	10.58M	13.23M	11.29M
Effective Tax Rate %	0.64%	0.73%	0.55%	0.76%	0.82%	0.8%	0.8%	0.8%	0.8%	0.8%
Net Income+	1.55M	2.22M	1.19M	8.71M	13.98M	18.28M	31.57M	41.38M	52.8M	45.49M
Net Margin %	0.04%	0.04%	0.02%	0.08%	0.11%	0.12%	0.12%	0.13%	0.13%	0.11%
Net Income Growth %	-0.5%	0.43%	-0.46%	6.34%	0.6%	0.31%	0.73%	0.31%	0.28%	-0.14%
Net Income (Continuing)	1.47M	2.16M	994.33K	8.72M	14M	18.28M	31.57M	41.38M	52.8M	45.49M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-3.18K	-55.18K	-108.18K	-190.03K	-168.68K	0	0	0	0	0
EPS (Diluted)+	0.06	0.08	0.04	0.32	0.51	0.66	1.14	1.50	1.91	1.65
EPS Growth %	-0.53%	0.47%	-0.52%	7%	0.59%	0.29%	0.73%	0.32%	0.27%	-0.14%
EPS (Basic)	0.06	0.08	0.04	0.32	0.51	0.66	1.14	1.50	1.91	1.65
Diluted Shares Outstanding	25.78M	25.78M	27.33M	27.61M	27.61M	27.61M	27.61M	27.62M	27.63M	27.64M
Basic Shares Outstanding	25.78M	25.78M	27.33M	27.61M	27.61M	27.61M	27.61M	27.61M	27.62M	27.64M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	14.09M	14.95M	19.91M	21.03M	36.28M	62.78M	79.03M	106.82M	146.45M	168.34M
Cash & Short-Term Investments	2.84M	1.86M	3.5M	3.97M	11.5M	29.03M	9.64M	8.06M	11.61M	22.09M
Cash Only	2.84M	1.86M	3.5M	3.97M	11.5M	29.03M	9.64M	8.06M	11.61M	22.09M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.75M	4.83M	5.45M	5.55M	7.25M	9.94M	13.78M	14.73M	24.81M	30.04M
Days Sales Outstanding	33.02	34.04	29.34	18.44	20.36	22.84	19.39	16.59	22.85	26.08
Inventory	6.97M	7.81M	10.15M	10.8M	15.14M	22.36M	51.94M	80.58M	106.51M	110.9M
Days Inventory Outstanding	87.3	75.49	72.69	51.54	63.94	77.82	113.79	149.68	166.22	166.56
Other Current Assets	0	0	0	0	0	0	343	3.46M	3.53M	5.31M
Total Non-Current Assets+	5.44M	6.85M	9.14M	9.51M	15.32M	21.06M	81.99M	86.54M	105.59M	117.26M
Property, Plant & Equipment	1.24M	1.35M	2.15M	3.38M	9.09M	10.68M	22.81M	29.51M	32.44M	37.23M
Fixed Asset Turnover	33.57x	38.28x	31.46x	32.48x	14.29x	14.88x	11.37x	10.98x	12.22x	11.29x
Goodwill	1.67M	1.89M	2.49M	2.32M	2.41M	4.47M	25.66M	26.76M	37.46M	44.13M
Intangible Assets	2.43M	3.47M	4.11M	3.8M	3.82M	5.42M	32.73M	29.29M	34.91M	34.56M
Long-Term Investments	-100.66K	-135.36K	0	0	0	-2.08M	0	0	0	0
Other Non-Current Assets	100.66K	135.36K	0	-385.4K	0	486.47K	791K	972K	782K	1.35M
Total Assets+	19.53M	21.8M	29.05M	30.54M	51.6M	83.84M	161.01M	193.36M	252.04M	285.61M
Asset Turnover	2.12x	2.37x	2.33x	3.60x	2.52x	1.90x	1.61x	1.68x	1.57x	1.47x
Asset Growth %	0.55%	0.12%	0.33%	0.05%	0.69%	0.62%	0.92%	0.2%	0.3%	0.13%
Total Current Liabilities+	8.8M	9.54M	13.71M	8.48M	11.79M	21.2M	36.27M	27.4M	36.47M	41.52M
Accounts Payable	4.47M	5.86M	6.48M	3.91M	7.44M	12.99M	25.18M	16.69M	24.23M	26.32M
Days Payables Outstanding	55.91	56.67	46.36	18.64	31.42	45.19	55.16	31	37.82	39.52
Short-Term Debt	4.22M	3.51M	3.02M	853.15K	462.23K	2.57M	375K	77K	62K	63K
Deferred Revenue (Current)	0	0	0	136.21K	559.23K	244.84K	818K	261K	761K	821K
Other Current Liabilities	117.65K	168.69K	4.11M	2.53M	829.82K	1.3M	1.53M	2.23M	3.15M	4.32M
Current Ratio	1.60x	1.57x	1.45x	2.48x	3.08x	2.96x	2.18x	3.90x	4.02x	4.05x
Quick Ratio	0.81x	0.75x	0.71x	1.21x	1.79x	1.91x	0.75x	0.96x	1.10x	1.38x
Cash Conversion Cycle	64.4	52.86	55.66	51.35	52.88	55.47	78.03	135.27	151.25	153.12
Total Non-Current Liabilities+	2.39M	1.96M	1.48M	1.45M	4.92M	9.26M	40.28M	41.24M	35.58M	18.63M
Long-Term Debt	1.83M	1.43M	927.43K	968.24K	307.28K	3.57M	25.08M	26M	19.32M	229K
Capital Lease Obligations	0	0	0	0	4.01M	4.33M	9.83M	12.12M	12.71M	16.13M
Deferred Tax Liabilities	558.12K	524.27K	463.14K	478.86K	604.72K	627.81K	2.75M	2.05M	2.66M	469K
Other Non-Current Liabilities	0	0	0	0	0	729.41K	2.63M	1.07M	890K	1.81M
Total Liabilities	11.18M	11.5M	15.19M	9.93M	16.71M	30.46M	76.55M	68.64M	72.05M	60.15M
Total Debt+	6.04M	4.95M	4.08M	1.82M	5.91M	12.12M	38.26M	42.08M	36.06M	21.08M
Net Debt	3.2M	3.09M	584.02K	-2.15M	-5.59M	-16.91M	28.61M	34.02M	24.45M	-1M
Debt / Equity	0.72x	0.48x	0.29x	0.09x	0.17x	0.23x	0.45x	0.34x	0.20x	0.09x
Debt / EBITDA	1.73x	1.13x	1.21x	0.14x	0.31x	0.47x	0.86x	0.68x	0.47x	0.30x
Net Debt / EBITDA	0.92x	0.70x	0.17x	-0.16x	-0.30x	-0.66x	0.64x	0.55x	0.32x	-0.01x
Interest Coverage	11.61x	14.58x	6.81x	70.26x	176.80x	93.86x	132.40x	38.25x	53.66x	59.38x
Total Equity+	8.34M	10.29M	13.85M	20.61M	34.89M	53.38M	84.46M	124.72M	179.99M	225.46M
Equity Growth %	0.11%	0.23%	0.35%	0.49%	0.69%	0.53%	0.58%	0.48%	0.44%	0.25%
Book Value per Share	0.32	0.40	0.51	0.75	1.26	1.93	3.06	4.52	6.51	8.16
Total Shareholders' Equity	8.34M	10.35M	13.96M	20.8M	35.06M	53.38M	84.46M	124.72M	179.99M	225.46M
Common Stock	6.64M	6.64M	9.21M	27.61K	27.61K	27.61K	28K	28K	28K	28K
Retained Earnings	166.58K	2.38M	3.57M	10.62M	24.59M	42.88M	74.44M	115.82M	168.62M	214.11M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-621.99K	-833.73K	-984.28K	-1.19M	-908.76K	66.22K	-590K	-2.2M	-1.21M	-4.24M
Minority Interest	-3.18K	-55.18K	-108.18K	-190.03K	-168.68K	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.41M	2.93M	3.95M	6.8M	10.97M	18.47M	18.27M	12.06M	37.38M	47.82M
Operating CF Margin %	0.03%	0.06%	0.06%	0.06%	0.08%	0.12%	0.07%	0.04%	0.09%	0.11%
Operating CF Growth %	1.35%	1.08%	0.35%	0.72%	0.61%	0.68%	-0.01%	-0.34%	2.1%	0.28%
Net Income	1.47M	2.16M	1.13M	8.72M	14M	18.28M	31.57M	41.38M	52.8M	45.49M
Depreciation & Amortization	891.37K	1.14M	1.77M	1.38M	1.7M	2.23M	4.39M	7.83M	9.59M	11.7M
Stock-Based Compensation	0	0	0	0	0	0	169K	522K	1.64M	3.2M
Deferred Taxes	211.87K	-97.85K	-255.24K	-86.22K	117.33K	-273K	1.01M	-471K	-921K	-2.75M
Other Non-Cash Items	-134.31K	59.34K	78.96K	43.42K	358.47K	176K	291K	466K	230K	341K
Working Capital Changes	-1.12M	-442.9K	1.22M	-3.48M	-5.2M	-1.95M	-19.16M	-37.67M	-25.96M	-10.15M
Change in Receivables	-677.42K	-1.25M	-814.23K	-261.26K	-1.77M	-2.43M	-432K	-2.63M	-7M	-5.6M
Change in Inventory	-321.56K	-637.53K	-1.86M	11.15K	-4.25M	-6.76M	-26.94M	-28.57M	-24.84M	-4.79M
Change in Payables	242.83K	1.17M	3.14M	-3.64M	3.88M	6.36M	0	0	0	2.69M
Cash from Investing+	-3.22M	-2.18M	-3.31M	-3.09M	-2.3M	-4.66M	-56.81M	-14.16M	-26.35M	-18.4M
Capital Expenditures	-1.21M	-1.36M	-2.21M	-2.42M	-1.57M	-1.78M	-6.72M	-7.94M	-6.36M	-6.71M
CapEx % of Revenue	0.03%	0.03%	0.03%	0.02%	0.01%	0.01%	0.03%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-763.71K	3.48K	39.5K	155.28K	-606.12K	-313K	-898K	-1.55M	-1.26M	-1.84M
Cash from Financing+	3.3M	-1.65M	1.56M	-3.1M	-1.14M	3.51M	19.24M	602K	-7.26M	-19.25M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-150K	0	-38.02K	0	0	-785K	0	-30K	-167K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	193.28K	1.57M	1.75M	4.38M	8.72M	16.31M	10.58M	2.5M	29.74M	41.11M
FCF Margin %	0%	0.03%	0.03%	0.04%	0.07%	0.1%	0.04%	0.01%	0.08%	0.1%
FCF Growth %	1.59%	7.11%	0.11%	1.51%	0.99%	0.87%	-0.35%	-0.76%	10.89%	0.38%
FCF per Share	0.01	0.06	0.06	0.16	0.32	0.59	0.38	0.09	1.08	1.49
FCF Conversion (FCF/Net Income)	0.91x	1.32x	3.33x	0.78x	0.78x	1.01x	0.58x	0.29x	0.71x	1.05x
Interest Paid	157.19K	163.71K	245.99K	86.42K	17.85K	178K	210K	1.31M	1.24M	1.03M
Taxes Paid	910K	685K	452.17K	2.51M	4.08M	4.46M	7.76M	9.9M	15.29M	13.62M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	19.65%	23.78%	9.83%	50.56%	50.36%	41.42%	45.8%	39.56%	34.66%	22.44%
Return on Invested Capital (ROIC)	21.1%	19.57%	12.06%	53.94%	53.66%	53.3%	40.24%	29.76%	27.66%	20.69%
Gross Margin	29.7%	27.08%	24.76%	30.42%	33.48%	33.99%	35.75%	39.36%	40.98%	42.19%
Net Margin	3.75%	4.28%	1.75%	7.93%	10.76%	11.5%	12.18%	12.77%	13.32%	10.82%
Debt / Equity	0.72x	0.48x	0.29x	0.09x	0.17x	0.23x	0.45x	0.34x	0.20x	0.09x
Interest Coverage	11.61x	14.58x	6.81x	70.26x	176.80x	93.86x	132.40x	38.25x	53.66x	59.38x
FCF Conversion	0.91x	1.32x	3.33x	0.78x	0.78x	1.01x	0.58x	0.29x	0.71x	1.05x
Revenue Growth	39.96%	24.81%	30.89%	62.25%	18.21%	22.31%	63.14%	24.97%	22.32%	6.08%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product Revenue, Paint Protection Film	97.34M	110.79M	169.88M	192.37M	229.88M	226.71M
Product Revenue, Paint Protection Film Growth	-	13.81%	53.34%	13.24%	19.50%	-1.38%
Product Revenue, Window Film	11.38M	20.95M	38.36M	54.37M	67.95M	77.67M
Product Revenue, Window Film Growth	-	84.03%	83.11%	41.72%	24.98%	14.30%
Service Revenue, Installation Labor	6.62M	10.93M	24.25M	42.83M	58.48M	74.48M
Service Revenue, Installation Labor Growth	-	65.03%	121.98%	76.59%	36.54%	27.36%
Service Revenue, Cutbank Credits	7.25M	7.78M	12.37M	16.32M	17.63M	17.02M
Service Revenue, Cutbank Credits Growth	-	7.32%	58.93%	31.89%	8.02%	-3.47%
Product Revenue, Other	3.48M	4.53M	9.04M	11.43M	13.57M	14.47M
Product Revenue, Other Growth	-	30.10%	99.76%	26.44%	18.77%	6.62%
Service Revenue, Software	3.26M	3.49M	4.37M	5.21M	6.52M	8.06M
Service Revenue, Software Growth	-	6.92%	25.33%	19.21%	25.03%	23.67%
Service Revenue, Training	590.61K	462.95K	982.7K	1.46M	2.27M	2M
Service Revenue, Training Growth	-	-21.61%	112.27%	48.67%	55.10%	-11.87%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	60.45M	75.08M	-	-	-	-
UNITED STATES Growth	-	24.19%	-	-	-	-
CHINA	30.49M	32.81M	-	-	-	-
CHINA Growth	-	7.60%	-	-	-	-
CANADA	17.91M	20.52M	-	-	-	-
CANADA Growth	-	14.58%	-	-	-	-
Europe	7.42M	12.77M	-	-	-	-
Europe Growth	-	72.15%	-	-	-	-
Asia Pacific	4.37M	5.26M	-	-	-	-
Asia Pacific Growth	-	20.42%	-	-	-	-
Middle East, Africa	3.15M	5.17M	-	-	-	-
Middle East, Africa Growth	-	64.09%	-	-	-	-
Latin America	2.1M	2.27M	-	-	-	-
Latin America Growth	-	8.36%	-	-	-	-
Other Geographic Region	254.91K	319.9K	-	-	-	-
Other Geographic Region Growth	-	25.49%	-	-	-	-

Frequently Asked Questions

Valuation & Price

XPEL, Inc. (XPEL) has a price-to-earnings (P/E) ratio of 32.9x. This suggests investors expect higher future growth.

Growth & Financials

XPEL, Inc. (XPEL) reported $461.5M in revenue for fiscal year 2024. This represents a 7538% increase from $6.0M in 2011.

XPEL, Inc. (XPEL) grew revenue by 6.1% over the past year. This is steady growth.

Yes, XPEL, Inc. (XPEL) is profitable, generating $46.7M in net income for fiscal year 2024 (10.8% net margin).

Dividend & Returns

XPEL, Inc. (XPEL) has a return on equity (ROE) of 22.4%. This is excellent, indicating efficient use of shareholder capital.

XPEL, Inc. (XPEL) generated $65.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.