Analyst Consensus ?
ConsensusHold17 ratings
Bullish1058.8%
Neutral423.5%
Bearish317.7%
XPeng Inc. · XPEV · FY2025 Q2 · Calendar Q3 2025
XPeng pairs record Q2 growth with margin expansion and AI-led launches
The supplied analysis supports a constructive but conditional growth thesis: record deliveries, higher gross margin, new premium models, AI development, overseas expansion, and the Volkswagen partnership improve the growth case. The evidence is not yet conclusive because ASP durability, regulatory execution, cash-flow effects, and sustained margins remain open questions.
Reported Before market openNYSEConsumer Cyclical
$9.41B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.07
Consensus $-0.11
EPS surprise
+33.6%
Reported versus consensus
Reported revenue
$2.55B
Consensus $2.49B
Revenue surprise
+2.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.2%
Event window
SPY move
-0.5%
Same window
Abnormal move
+4.8%
Stock minus SPY
Volume
2.9×
Versus trailing sessions
Subsequent drift
+4.1%
Up to 20 sessions
XPEVSPY benchmark
Ask FN2 about XPEV FY2025 Q2
Transcript, numbers and history already loaded
Why did XPEV rise 4.2% after beating EPS estimates in FY2025 Q2?What changed in XPEV's guidance and outlook in FY2025 Q2?Give me the bull and bear case for XPEV after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shifts the story from planned launches and Q4 profitability ambitions to reported Q2 scale and margin evidence: deliveries reached 103,181, gross margin rose to 17.3%, the Turing AI SoC was highlighted, and international production and the Volkswagen relationship gained prominence.
Guidance delta
Raised; the supplied analysis says management issued upbeat Q3 delivery and revenue guidance.
Key takeaways
- Q2 deliveries reached 103,181, up 242% year over year, while gross margin improved to 17.3%.
- Management emphasized the Turing AI SoC, upcoming P7 and X9 Kunpeng launches, and a dual-energy platform.
- Overseas expansion, Indonesia production, and the Volkswagen partnership broaden the growth narrative.
- The central test is whether product mix and scale can offset price competition and continued AI investment.
Management priorities
- Launch the P7 and X9 Kunpeng Super Electric models and scale the dual-energy platform.
- Continue Turing AI SoC, VLA/VLM, and L4 autonomous-driving development.
- Expand overseas sales and local manufacturing, including in Indonesia.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$9.9Current
$4.2Low
$22.23Average
$72High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Overweight | Downgrade | Sep 29, 2026 |
| Barclays | Underweight | Underweight | Maintain | Aug 26, 2026 |
| Macquarie | Outperform | Neutral | Upgrade | May 29, 2026 |
| Freedom Capital Markets | Buy | Hold | Upgrade | Jan 6, 2026 |
| Freedom Broker | Buy | Hold | Upgrade | Jan 6, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 20, 2025 |
| B of A Securities | Buy | Buy | Maintain | Aug 19, 2025 |
| UBS | Neutral | Sell | Upgrade | Feb 24, 2025 |
| China Renaissance | Buy | Hold | Upgrade | Nov 22, 2024 |
| Bernstein | Market Perform | Market Perform | Maintain | Nov 20, 2024 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 11, 2024 |
| CLSA | Buy | Outperform | Maintain | Aug 8, 2023 |
| HSBC | Buy | Hold | Upgrade | Aug 7, 2023 |
| Jefferies | Buy | Hold | Upgrade | Jul 28, 2023 |
| BOCOM International | Sell | Neutral | Downgrade | Jul 7, 2023 |
| Daiwa Capital | Sell | Buy | Downgrade | Dec 14, 2022 |
| Nomura Instinet | Neutral | Buy | Downgrade | Jul 1, 2022 |
Named analyst price targets
Upside is calculated against the persisted current price $9.9. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Paul Gong | $12 | $10.93 | +21.2% | Sep 9, 2026 |
| Barclays | Jiong Shao | $14 | $11.15 | +41.4% | Aug 25, 2026 |
| Barclays | Analyst unavailable | $15 | $13.78 | +51.5% | Jul 16, 2026 |
| Jefferies | Alexious Lee | $25.2 | $16.44 | +154.5% | May 29, 2026 |
| Macquarie | Eugene Hsiao | $19 | $16.44 | +91.9% | May 28, 2026 |
| Barclays | Analyst unavailable | $17 | $17.84 | +71.7% | Feb 18, 2026 |
| Macquarie | Eugene Hsiao | $26 | $20.9 | +162.6% | Jan 15, 2026 |
| Loop Capital Markets | Roman Lukianchikov | $25 | $20.14 | +152.5% | Jan 6, 2026 |
| Morgan Stanley | Tim Hsiao | $34 | $26.04 | +243.4% | Nov 11, 2025 |
| Goldman Sachs | Tina Hou | $24 | $18.57 | +142.4% | Jun 17, 2025 |
| Morgan Stanley | Tim Hsaio | $28 | $19.23 | +182.8% | Jun 12, 2025 |
| Bernstein | Eunice Lee | $19 | $20.5 | +91.9% | May 22, 2025 |
| Macquarie | Eugene Hsiao | $24 | $22.25 | +142.4% | May 21, 2025 |
| Bernstein | Analyst unavailable | $18 | $23.8 | +81.8% | Mar 19, 2025 |
| CMB International Securities | Ji Shi | $16 | $12.64 | +61.6% | Nov 20, 2024 |
| Morgan Stanley | Tim Hsiao | $17 | $12.88 | +71.7% | Nov 6, 2024 |
| Citigroup | Jeff Chung | $14.6 | $12.72 | +47.5% | Sep 30, 2024 |
| Citigroup | Jeff Chung | $10.3 | $10.7 | +4.0% | Sep 24, 2024 |
| Macquarie | Eugene Hsiao | $10 | $8.41 | +1.0% | Sep 3, 2024 |
| Citigroup | Jeff Chung | $7.6 | $6.77 | -23.2% | Aug 21, 2024 |
| Barclays | Jiong Shao | $7 | $6.77 | -29.3% | Aug 21, 2024 |
| Daiwa | Kelvin Lau | $11 | $8.1 | +11.1% | May 23, 2024 |
| Bernstein | Eunice Lee | $12 | $8.77 | +21.2% | May 22, 2024 |
| Barclays | Jiong Shao | $8 | $8.77 | -19.2% | May 22, 2024 |
| CFRA | Aaron Ho | $8 | $7.76 | -19.2% | Apr 1, 2024 |
| HSBC | Yuqian Ding | $18.7 | $8.52 | +88.9% | Mar 22, 2024 |
| Morgan Stanley | Tim Hsiao | $18 | $9.89 | +81.8% | Mar 19, 2024 |
| Morgan Stanley | Tim Hsiao | $18.7 | $21.89 | +88.9% | Jul 28, 2023 |
| J.P. Morgan | Analyst unavailable | $9 | $10.09 | -9.1% | Jan 11, 2023 |
| Daiwa | Analyst unavailable | $8 | $10.25 | -19.2% | Dec 14, 2022 |
| HSBC | Analyst unavailable | $15 | $10.47 | +51.5% | Dec 13, 2022 |
| Jefferies | Analyst unavailable | $4.2 | $7.07 | -57.6% | Nov 28, 2022 |
| UBS | Analyst unavailable | $13 | $7.76 | +31.3% | Nov 17, 2022 |
| Citigroup | Analyst unavailable | $27.87 | $18.73 | +181.5% | Aug 24, 2022 |
| Barclays | Jiong Shao | $22 | $18.73 | +122.2% | Aug 23, 2022 |
| Nomura | Martin Heung | $36.3 | $31.74 | +266.7% | Jul 1, 2022 |
| Citigroup | Analyst unavailable | $51.59 | $28.17 | +421.1% | Jun 21, 2022 |
| J.P. Morgan | Analyst unavailable | $35 | $20.8 | +253.5% | May 24, 2022 |
| Barclays | Analyst unavailable | $30 | $20.59 | +203.0% | May 24, 2022 |
| US Tiger Securities | Bo Pei | $40 | $20.76 | +304.0% | May 24, 2022 |
| UBS | Paul Gong | $34 | $25.87 | +243.4% | Apr 18, 2022 |
| Bernstein | Eunice Lee | $56 | $46.24 | +465.7% | Oct 28, 2021 |
| Deutsche Bank | Edison Yu | $51 | $40.28 | +415.2% | Aug 27, 2021 |
| Credit Suisse | Bin Wang | $72 | $43.39 | +627.3% | Aug 2, 2021 |
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Start freeCompany context
Snapshot as of publicationOperating within the People's Republic of China, XPeng Inc. is an innovator in the electric vehicle (EV) sector, focusing on the creation and sale of intelligent, connected automobiles. It handles the entire process from conceptualization to market distribution. Its diverse lineup caters to various consumer needs, featuring SUV models like the G3 and G3i, the P7 performance-oriented sports sedan, and the P5, designed as a family-friendly sedan. Beyond manufacturing vehicles, XPeng supports its customers with a comprehensive ecosystem of services. These encompass sales and financial solutions (including contracts, leasing, and loan referrals), vehicle upkeep (maintenance and super charging), and a range of digital and convenience offerings such as insurance agency, ride-hailing, technical assistance, and music subscriptions. The company was established in 2015, with its headquarters located in Guangzhou, China.
Historical context
All XPEV earningsConsumer Cyclical peers this season
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Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-11T08:40:42.359909+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-11T08:40:42.356938+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-11. For educational purposes only; not investment advice.