XChange Tec Valuation Multiples

Discover XChange Tec's revenue and EBITDA valuation multiples and M&A history, alongside public comparables like AGMA, AFMA, AIX Inc., Wiz Co. and more.

XChange Tec Overview

About XChange Tec

XChange Tec Inc, through its subsidiaries, operates in the insurance agency and insurance technology business. The company specialized in distributing automobile insurance policies at the earlier stage of business and subsequently expanded its insurance product portfolio to include other types of insurance, including life, health, group accident, and other property-related insurances. A maximum of the insurance purchased through platform and agency services is for automobile insurance.


Founded

2014

HQ

China

Employees

30

Financials (FY)

Revenue: $54K
EBITDA: ($107K)

EV

$279M

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XChange Tec Financials

XChange Tec reported last fiscal year revenue of $54K and negative EBITDA of ($107K).

In the same fiscal year, XChange Tec generated $1K in gross profit, ($107K) in EBITDA losses, and had net loss of ($111K).


XChange Tec P&L

In the most recent fiscal year, XChange Tec reported revenue of $54K and EBITDA of ($107K).

XChange Tec is unprofitable as of last fiscal year, with gross margin of 2%, EBITDA margin of (197%), and net margin of (205%).

See analyst estimates for XChange Tec
Last FY202320242025202620272028
Revenue$54K$11M$32M$54K
Gross Profit$1K$2M$1M$1K
Gross Margin2%19%5%2%
EBITDA($107K)($25M)($65M)($107K)
EBITDA Margin(197%)(230%)(203%)(197%)
EBIT Margin(9%)(32%)(5%)(9%)
Net Profit($111K)($16M)($25M)($111K)
Net Margin(205%)(153%)(79%)(205%)
Net Debt$103M---

Financial data powered by Morningstar, Inc.

XChange Tec Stock Performance

XChange Tec has current market cap of $181M, and enterprise value of $279M.

Market Cap Evolution


XChange Tec's stock price is $3.51.

XChange Tec share price increased by 183.1% in the last year.

See more trading valuation data for XChange Tec
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$279M$181M2.9%0.0%281.6%183.1%$-0.00

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XChange Tec Valuation Multiples

XChange Tec trades at 5125.3x EV/Revenue multiple, and (2598.5x) EV/EBITDA.

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XChange Tec Financial Valuation Multiples

As of September 1, 2026, XChange Tec has market cap of $181M and EV of $279M.

XChange Tec has a P/E ratio of (1624.4x).

Last FY202320242025202620272028
EV/Revenuen/m26.1x8.7xn/m
EV/EBITDAn/m(11.3x)(4.3x)n/m
EV/EBITn/m(82.5x)(180.8x)n/m
EV/Gross Profitn/m139.5x186.0xn/m
P/En/m(11.1x)(7.2x)n/m
EV/FCFn/m(58.1x)n/mn/m

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified XChange Tec Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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XChange Tec Margins & Growth Rates

In the most recent fiscal year, XChange Tec reported gross margin of 2%, EBITDA margin of (197%), and net margin of (205%).

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XChange Tec Margins

Last FY20242025202720282029
Gross Margin2%5%2%
EBITDA Margin(197%)(203%)(197%)
EBIT Margin(9%)(5%)(9%)
Net Margin(205%)(79%)(205%)
FCF Margin(3%)(3%)(3%)

XChange Tec Growth Rates

23/2424/2526/2727/2828/29
Revenue Growth200%(100%)
Gross Profit Growth(25%)(100%)
EBITDA Growth165%(100%)
EBIT Growth(54%)(100%)
Net Profit Growth55%(100%)
FCF Growth(77%)(100%)

Data powered by FactSet, Inc. and Morningstar, Inc.

XChange Tec Operational KPIs

XChange Tec's revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $0.0M for the same period.

Access forward-looking KPIs for XChange Tec
Last FY202320242025202620272028
Revenue per Employee$0.0M---
Opex per Employee$0.0M---
S&M Expenses to Revenue3%4%4%3%
G&A Expenses to Revenue9%32%6%9%
R&D Expenses to Revenue0%0%0%0%
Opex to Revenue199%36%9%12%

Data powered by FactSet, Inc. and Morningstar, Inc.

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XChange Tec Competitors

XChange Tec competitors include AGMA, AFMA, AIX Inc., Wiz Co., SelectQuote, Qualicorp, eHealth, CPP Group, Zhibao Technology and Waterdrop.

Most XChange Tec public comparables operate across Insurance Brokers.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
AGMA7.4x-14.1x-
AFMA4.5x-11.1x-
AIX Inc.1.6x-(0.4x)-
Wiz Co.1.4x2.2x3.1x3.5x
SelectQuote0.5x0.5x5.6x7.2x
Qualicorp0.9x0.9x2.0x2.5x
eHealth0.9x1.0x5.7x6.3x
CPP Group2.4x2.4x(0.9x)(1.0x)

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Acquisitions by XChange Tec

XChange Tec has acquired 1 company to date.

Last acquisition by XChange Tec was on August 13th 2026. XChange Tec acquired First Cycle for undisclosed valuation.

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Latest Acquisitions by XChange Tec

First Cycle
Description
First Cycle is an artificial intelligence technology company based in Hong Kong.
HQ CountryHong Kong
HQ City
Hong Kong
Deal Date13 Aug 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About XChange Tec

When was XChange Tec founded?XChange Tec was founded in 2014.
Where is XChange Tec headquartered?XChange Tec is headquartered in China.
How many employees does XChange Tec have?As of today, XChange Tec has over 30 employees.
Who is the CEO of XChange Tec?XChange Tec's CEO is Zhichen Sun.
Is XChange Tec publicly listed?Yes, XChange Tec is a public company listed on Nasdaq.
What is the stock symbol of XChange Tec?XChange Tec trades under XHG ticker.
When did XChange Tec go public?XChange Tec went public in 2019.
Who are competitors of XChange Tec?XChange Tec main competitors include AGMA, AFMA, AIX Inc., Wiz Co., SelectQuote, Qualicorp, eHealth, CPP Group, Zhibao Technology, Waterdrop.
What is the current market cap of XChange Tec?XChange Tec's current market cap is $181M.
What is the current revenue of XChange Tec?XChange Tec's last fiscal year revenue is $54K.
What is the current EV/Revenue multiple of XChange Tec?Current revenue multiple of XChange Tec is 5125.3x.
Is XChange Tec profitable?No, XChange Tec is not profitable.
How many companies XChange Tec has acquired to date?As of September 2026, XChange Tec has acquired 1 company.
What was the largest acquisition by XChange Tec?None of the M&A deals XChange Tec has completed have disclosed valuations.
What companies XChange Tec acquired?XChange Tec acquired First Cycle.
In how many companies XChange Tec has invested to date?XChange Tec hasn't invested in any companies yet (or none have been disclosed publicly).

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