Is the business good?
How good a business is XPEL?
XPEL, Inc. earns 21% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
21%
Return on invested capital · cost of capital 9.0% · 12 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Auto Parts median 8.5% · 12 months to Q1 2026
- Cash conversion
- 1.10×
Cash conversion · 1.06× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.04%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 15% |
| FY2021 | 15% |
| FY2022 | 17% |
| FY2023 | 17% |
| FY2024 | 14% |
| FY2025 | 13% |
Details›
- Gross margin12 months to Q1 2026
- 43%
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 11%
- Free cash flow margin
- 12%
- Revenue, trailing twelve months
- $490M
- Free cash flow, trailing twelve months
- $58M
- Net income, trailing twelve months
- $53M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 21%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.