(XNET) Xunlei - Overview
Stock: Accelerator, Cloud, Blockchain, Streaming, Browser
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 76.9% |
| Relative Tail Risk | -10.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.18 |
| Alpha | 106.22 |
| Character TTM | |
|---|---|
| Beta | 1.484 |
| Beta Downside | 2.288 |
| Drawdowns 3y | |
|---|---|
| Max DD | 50.93% |
| CAGR/Max DD | 1.02 |
Description: XNET Xunlei December 31, 2025
Xunlei Limited (NASDAQ:XNET) runs a Chinese-focused internet platform that leverages cloud infrastructure to let users access, store, manage and consume digital media. Its core offerings include the Xunlei Accelerator for faster downloads, a suite of mobile acceleration plug-ins, and premium subscription products (Green Channel, Fast Bird). The firm also provides a mobile app (Mobile Xunlei), a distributed cloud service (StellarCloud), blockchain tooling (ThunderChain and BaaS), an audio live-streaming service (Wefun), a media player, online gaming, advertising, a web browser, and related data-transmission technologies.
Recent filings suggest Xunlei generated roughly CNY 1.2 billion in revenue for FY2023, with a year-over-year growth rate of about 15 %, driven largely by its subscription-based acceleration services and expanding advertising inventory. The company’s monthly active users (MAU) on its mobile ecosystem are estimated at ~120 million, a metric that underpins its cross-sell potential for blockchain and gaming products. Sector-wide, China’s cloud-based media acceleration market is projected to expand at a CAGR of ~20 % through 2027, reflecting rising broadband penetration and higher consumer demand for low-latency streaming.
Analysts should watch the regulatory environment for cloud and blockchain services in China, as tighter data-security rules could materially affect Xunlei’s BaaS rollout and advertising revenue streams.
For a deeper quantitative analysis, see the XNET profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 1.27b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -3.26 > 1.0 |
| NWC/Revenue: 45.86% < 20% (prev 72.49%; Δ -26.63% < -1%) |
| CFO/TA 0.02 > 3% & CFO 31.0m > Net Income 1.27b |
| Net Debt (-59.0m) to EBITDA (1.28b): -0.05 < 3 |
| Current Ratio: 2.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (307.4m) vs 12m ago -3.32% < -2% |
| Gross Margin: 49.62% > 18% (prev 0.52%; Δ 4910 % > 0.5%) |
| Asset Turnover: 34.90% > 50% (prev 66.95%; Δ -32.05% > 0%) |
| Interest Coverage Ratio: 437.3 > 6 (EBITDA TTM 1.28b / Interest Expense TTM 1.26m) |
Altman Z'' 10.00
| A: 0.10 (Total Current Assets 365.7m - Total Current Liabilities 181.3m) / Total Assets 1.83b |
| B: 0.62 (Retained Earnings 1.14b / Total Assets 1.83b) |
| C: 0.48 (EBIT TTM 551.7m / Avg Total Assets 1.15b) |
| D: 4.78 (Book Value of Equity 1.12b / Total Liabilities 234.1m) |
| Altman-Z'' Score: 10.93 = AAA |
Beneish M 0.33
| DSRI: 0.66 (Receivables 53.9m/64.1m, Revenue 401.9m/316.0m) |
| GMI: 1.05 (GM 49.62% / 51.92%) |
| AQI: 5.56 (AQ_t 0.77 / AQ_t-1 0.14) |
| SGI: 1.27 (Revenue 401.9m / 316.0m) |
| TATA: 0.68 (NI 1.27b - CFO 31.0m) / TA 1.83b) |
| Beneish M-Score: 0.33 (Cap -4..+1) = D |
What is the price of XNET shares?
Over the past week, the price has changed by -5.69%, over one month by -22.87%, over three months by -25.93% and over the past year by +110.14%.
Is XNET a buy, sell or hold?
What are the forecasts/targets for the XNET price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 12 | 106.9% |
| Analysts Target Price | 12 | 106.9% |
| ValueRay Target Price | 6.7 | 15.3% |
XNET Fundamental Data Overview February 02, 2026
P/B = 0.2366
Revenue TTM = 401.9m USD
EBIT TTM = 551.7m USD
EBITDA TTM = 1.28b USD
Long Term Debt = 40.1m USD (from longTermDebt, last quarter)
Short Term Debt = 28.9m USD (from shortTermDebt, last quarter)
Debt = 70.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -59.0m USD (from netDebt column, last quarter)
Enterprise Value = 171.2m USD (384.7m + Debt 70.5m - CCE 284.1m)
Interest Coverage Ratio = 437.3 (Ebit TTM 551.7m / Interest Expense TTM 1.26m)
EV/FCF = 7.56x (Enterprise Value 171.2m / FCF TTM 22.6m)
FCF Yield = 13.22% (FCF TTM 22.6m / Enterprise Value 171.2m)
FCF Margin = 5.63% (FCF TTM 22.6m / Revenue TTM 401.9m)
Net Margin = 315.3% (Net Income TTM 1.27b / Revenue TTM 401.9m)
Gross Margin = 49.62% ((Revenue TTM 401.9m - Cost of Revenue TTM 202.5m) / Revenue TTM)
Gross Margin QoQ = 48.08% (prev 49.47%)
Tobins Q-Ratio = 0.09 (Enterprise Value 171.2m / Total Assets 1.83b)
Interest Expense / Debt = 0.81% (Interest Expense 574.8k / Debt 70.5m)
Taxrate = 0.09% (469.0k / 550.5m)
NOPAT = 551.3m (EBIT 551.7m * (1 - 0.09%))
Current Ratio = 2.02 (Total Current Assets 365.7m / Total Current Liabilities 181.3m)
Debt / Equity = 0.04 (Debt 70.5m / totalStockholderEquity, last quarter 1.60b)
Debt / EBITDA = -0.05 (Net Debt -59.0m / EBITDA 1.28b)
Debt / FCF = -2.61 (Net Debt -59.0m / FCF TTM 22.6m)
Total Stockholder Equity = 819.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 110.0% (Net Income 1.27b / Total Assets 1.83b)
RoE = 154.6% (Net Income TTM 1.27b / Total Stockholder Equity 819.9m)
RoCE = 64.15% (EBIT 551.7m / Capital Employed (Equity 819.9m + L.T.Debt 40.1m))
RoIC = 63.49% (NOPAT 551.3m / Invested Capital 868.3m)
WACC = 9.74% (E(384.7m)/V(455.3m) * Re(11.38%) + D(70.5m)/V(455.3m) * Rd(0.81%) * (1-Tc(0.00)))
Discount Rate = 11.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.93%
[DCF Debug] Terminal Value 72.98% ; FCFF base≈22.1m ; Y1≈23.4m ; Y5≈27.8m
Fair Price DCF = 6.82 (EV 360.1m - Net Debt -59.0m = Equity 419.1m / Shares 61.5m; r=9.74% [WACC]; 5y FCF grow 6.61% → 2.90% )
EPS Correlation: 55.43 | EPS CAGR: 370.0% | SUE: N/A | # QB: 0
Revenue Correlation: 40.77 | Revenue CAGR: 13.33% | SUE: N/A | # QB: 0