Xiaomi
Company Overview
Sector : Technology
Industry : Consumer Electronics
Headquarter : Beijing, China
Description : Xiaomi Corporation, an investment holding company, engages in the development and sales of smartphones in Mainland China and internationally. It operates through Smartphones, IoT and Lifestyle Products, Internet Services, and Others segments. The company also offers internet of things (IoT) and lifestyle products comprising smart large home appliances, smart TVs, tablets, wearables and other IoT and lifestyle products; hardware repairment services for products; installation services for certain IoT products; and sale of materials. In addition, it provides internet services, such as advertising, online game, and fintech services; intermediary services to the borrowers and third-party funding parties; and development, manufacture, and sales of smart electric vehicles. Further, the company in the wholesale and retail of smartphones and ecosystem partners' products; investment activities; sales of smart hardware and e-book; software and hardware development; procurement and sales of smartphones, ecosystem partners' products and spare parts, and raw materials; operation of retail stores; and commercial factoring and e-commerce business. Additionally, it provides intra-group capital supervision, collection, remittance, credit guarantee, and interest rate risk management; customer; software related; promotion; electronic payment technology; and technical services. Xiaomi Corporation was incorporated in 2010 and is headquartered in Beijing, the People's Republic of China.
S&P Credit Rating
BBB
CEO
Jun Lei
No. of Employees
56,531
Website
www.mi.com
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 68,430 | 114,620 | 174,920 | 205,840 | 245,870 | 328,310 | 280,040 | 270,970 | 365,910 | — |
| Revenue Growth % | 2.43% | 67.50% | 52.60% | 17.68% | 19.45% | 33.53% | (14.70%) | (3.24%) | 35.04% | — |
| Gross Profit | 7,250 | 15,150 | 22,190 | 28,550 | 36,750 | 58,260 | 47,580 | 57,480 | 76,560 | — |
| Gross Margin % | 10.59% | 13.22% | 12.69% | 13.87% | 14.95% | 17.75% | 16.99% | 21.21% | 20.92% | — |
| Operating Income | 1,530 | 5,680 | (3,320) | 7,890 | 9,770 | 20,030 | 6,120 | 14,610 | 23,190 | — |
| Operating Margin % | 2.24% | 4.96% | (1.90%) | 3.83% | 3.97% | 6.10% | 2.19% | 5.39% | 6.34% | — |
| EBIT | 1,260 | (41,910) | 13,690 | 11,760 | 24,030 | 26,030 | 2,820 | 20,010 | 24,500 | — |
| EBIT Margin % | 1.83% | (36.56%) | 7.83% | 5.71% | 9.78% | 7.93% | 1.01% | 7.38% | 6.70% | — |
| EBITDA | 1,500 | (41,550) | 14,440 | 13,140 | 25,740 | 29,090 | 6,520 | 24,840 | 30,820 | — |
| EBITDA Margin % | 2.19% | (36.25%) | 8.25% | 6.38% | 10.47% | 8.86% | 2.33% | 9.17% | 8.42% | — |
| Net Income | 550 | (43,830) | 13,550 | 10,040 | 20,360 | 19,340 | 2,470 | 17,480 | 23,660 | — |
| Net Margin % | 0.72% | (38.29%) | 7.71% | 4.91% | 8.26% | 5.87% | 0.89% | 6.45% | 6.44% | — |
| Diluted EPS (CNY) | 0.02 | (1.96) | 0.04 | 0.41 | 0.83 | 0.76 | 0.10 | 0.69 | 0.93 | — |
| Dividend Per Share (CNY) | — | — | — | — | — | — | — | — | — | — |
| Balance Sheet | ||||||||||
| Total Assets | 50,770 | 89,870 | 145,230 | 183,630 | 253,680 | 292,890 | 273,510 | 324,250 | 403,160 | — |
| Total Liabilities | 142,820 | 217,080 | 73,980 | 101,970 | 129,670 | 155,460 | 129,580 | 159,990 | 213,950 | — |
| Total Equity | (92,060) | (127,210) | 71,250 | 81,660 | 124,010 | 137,430 | 143,920 | 164,260 | 189,210 | — |
| Cash & Equivalents | 9,230 | 11,560 | 30,230 | 25,920 | 54,750 | 23,510 | 27,610 | 33,630 | 33,660 | — |
| Working Capital | 4,570 | 14,010 | 44,070 | 45,360 | 68,360 | 70,120 | 70,790 | 83,470 | 50,320 | — |
| Book Value Per Share (CNY) | — | — | 3.02 | 3.39 | 4.91 | 3.10 | 3.38 | 4.12 | 5.12 | — |
| Total Debt / Equity | — | — | 0.15 | 0.23 | 0.15 | 0.22 | 0.18 | 0.18 | 0.19 | — |
| Cash Flow | ||||||||||
| Operating Cash Flow | 4,531 | (996) | (1,415) | 23,810 | 21,879 | 9,785 | (4,390) | 41,301 | 39,296 | — |
| Cash from Investing | (3,735) | (2,678) | (7,508) | (31,570) | (17,679) | (45,008) | 15,549 | (35,169) | (35,386) | — |
| Cash from Financing | (72) | 6,215 | 26,574 | 3,121 | 26,216 | 4,499 | (7,855) | (505) | (3,999) | — |
| Capital Expenditure | 1,826 | 1,218 | 3,785 | 3,405 | 3,026 | 7,169 | 5,800 | 6,269 | 7,297 | — |
| Free Cash Flow | 832 | 4,862 | 7,953 | 10,634 | 14,033 | 17,681 | 10,045 | 16,954 | 27,286 | — |
| Change in Cash | 724 | 2,542 | 17,652 | (4,639) | 30,415 | (30,724) | 3,304 | 5,626 | (90) | — |
| Period ending Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue % | ||||||||||
| Year Over Year | 2.43% | 67.50% | 52.60% | 17.68% | 19.45% | 33.53% | (14.70%) | (3.24%) | 35.04% | — |
| 3-Year Average | — | — | 37.82% | 44.35% | 28.97% | 23.35% | 10.81% | 3.29% | 3.68% | — |
| 5-Year Average | — | — | — | — | 29.77% | 36.84% | 19.56% | 9.15% | 12.19% | — |
| 10-Year Average | — | — | — | — | — | — | — | — | — | — |
| Operating Income % | ||||||||||
| Year Over Year | — | 270.04% | — | — | 23.92% | 105.00% | (69.44%) | 138.61% | 58.72% | — |
| 3-Year Average | — | — | — | 72.55% | 19.82% | — | (8.09%) | 14.34% | 5.00% | — |
| 5-Year Average | — | — | — | — | — | 67.16% | 1.51% | — | 24.07% | — |
| 10-Year Average | — | — | — | — | — | — | — | — | — | — |
| Net Income % | ||||||||||
| Year Over Year | — | — | — | (25.89%) | 102.66% | (4.99%) | (87.21%) | 606.34% | 35.38% | — |
| 3-Year Average | — | — | — | 162.82% | — | 12.58% | (37.32%) | (4.96%) | 6.95% | — |
| 5-Year Average | — | — | — | — | — | 103.57% | — | 5.21% | 18.69% | — |
| 10-Year Average | — | — | — | — | — | — | — | — | — | — |
| EPS % | ||||||||||
| Year Over Year | — | — | — | 831.82% | 101.22% | (7.88%) | (86.84%) | 590.00% | 34.78% | — |
| 3-Year Average | — | — | — | 155.01% | — | 158.50% | (37.52%) | (5.78%) | 6.96% | — |
| 5-Year Average | — | — | — | — | — | 98.40% | — | 73.41% | 17.80% | — |
| 10-Year Average | — | — | — | — | — | — | — | — | — | — |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||||
| Return on Assets % | 1.23% | (62.33%) | 11.53% | 6.11% | 9.31% | 7.08% | 0.87% | 5.85% | 6.50% | — |
| Return on Equity % | — | — | — | 13.16% | 19.86% | 14.82% | 1.76% | 11.36% | 13.41% | — |
| Return on Invested Capital % | — | — | — | 10.66% | 18.68% | 13.30% | 1.04% | 8.73% | 9.85% | — |
| Working Capital Efficiency | ||||||||||
| Days Sales Outstanding | 9.49 | 12.04 | 11.55 | 11.12 | 12.70 | 15.65 | 19.41 | 14.85 | 11.43 | — |
| Days Inventory | 50.77 | 45.36 | 54.76 | 63.89 | 64.81 | 63.57 | 80.73 | 81.09 | 67.45 | — |
| Payables Period | 94.86 | 94.64 | 95.94 | 108.93 | 114.96 | 99.24 | 100.28 | 98.47 | 101.16 | — |
| Cash Conversion Cycle | (34.60) | (37.24) | (29.64) | (33.91) | (37.46) | (20.02) | (0.14) | (2.53) | (22.28) | — |
| Asset Turnover | ||||||||||
| Receivables Turnover | 38.45 | 30.33 | 31.61 | 32.81 | 28.74 | 23.33 | 18.81 | 24.58 | 31.93 | — |
| Inventory Turnover | 7.19 | 8.05 | 6.67 | 5.71 | 5.63 | 5.74 | 4.52 | 4.50 | 5.41 | — |
| Fixed Assets Turnover | 120.21 | 88.88 | 51.45 | 31.58 | 32.46 | 37.83 | 18.87 | 15.00 | 17.76 | — |
| Asset Turnover | 1.52 | 1.63 | 1.49 | 1.25 | 1.12 | 1.20 | 0.99 | 0.91 | 1.01 | — |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liquidity | ||||||||||
| Current Ratio | 1.18 | 1.30 | 1.71 | 1.49 | 1.63 | 1.61 | 1.79 | 1.72 | 1.29 | — |
| Quick Ratio | 0.75 | 0.81 | 1.07 | 1.04 | 1.14 | 1.05 | 1.10 | 1.30 | 0.81 | — |
| Leverage & Solvency | ||||||||||
| Interest Coverage | 14.63 | — | 37.20 | 24.02 | 7.43 | 9.59 | 4.48 | 15.15 | 22.11 | — |
| Financial Leverage | — | — | 2.04 | 2.26 | 2.05 | 2.13 | 1.90 | 1.98 | 2.14 | — |
| Debt / Equity | — | — | 0.11 | 0.07 | 0.09 | 0.16 | 0.16 | 0.14 | 0.11 | — |
| Per Share | ||||||||||
| Book Value Per Share (CNY) | — | — | 3.24 | 3.71 | 4.44 | 6.64 | 6.35 | 7.00 | 7.51 | — |
| Cash Value Per Share (CNY) | — | — | — | 2.99 | 4.77 | 4.34 | 3.18 | 4.89 | 4.42 | — |
| Capital Expenditure | ||||||||||
| Capex as % of Sales | 2.67% | 1.06% | 2.16% | 1.65% | 1.23% | 2.18% | 2.07% | 2.31% | 1.99% | — |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow Growth | ||||||||||
| Operating CF Growth % YoY | — | — | — | — | (8.11%) | (55.27%) | — | — | (4.85%) | — |
| Free Cash Flow Growth % YoY | — | — | — | — | (7.61%) | (86.12%) | — | — | (8.66%) | — |
| Cash Flow Margins & Quality | ||||||||||
| Free Cash Flow / Sales % | 3.95% | (1.93%) | (2.97%) | 9.91% | 7.67% | 0.80% | (3.64%) | 12.93% | 8.74% | — |
| Free Cash Flow / Net Income | 4.89 | 0.05 | (0.38) | 2.03 | 0.93 | 0.14 | (4.12) | 2.00 | 1.35 | — |
| Free Cash Flow Per Share (CNY) | — | — | (0.04) | 0.18 | 0.72 | 0.41 | (0.19) | 1.28 | 0.79 | — |
| Fiscal Year End Dec | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Price Multiples | ||||||||||
| Price / Sales | — | — | 1.50 | 1.21 | 3.13 | 1.29 | 0.71 | 1.46 | 2.64 | — |
| Price / Earnings | — | — | — | 21.90 | 51.92 | 15.66 | 130.96 | 22.30 | 43.09 | — |
| Price / Forward Earnings | — | — | — | 14.45 | 30.14 | 11.87 | 18.25 | 24.05 | 24.25 | — |
| Price / Cash Flow | — | — | 500.20 | 30.31 | 39.74 | 34.79 | 66.10 | 10.22 | 35.55 | — |
| Price / Book | — | — | 3.81 | 2.93 | 7.43 | 2.90 | 1.75 | 2.27 | 4.39 | — |
| PEG Ratio | — | — | — | — | 0.34 | 0.20 | 1.33 | 6.82 | 3.99 | — |
| Earnings & Enterprise Value | ||||||||||
| Earnings Yield % | — | — | (6.35%) | 4.57% | 1.93% | 6.39% | 0.76% | 4.48% | 2.32% | — |
| Enterprise Value (CNY Bil) | — | — | 251.87 | 215.00 | 778.11 | 404.51 | 228.50 | 310.93 | 785.86 | — |
| EV / EBIT | — | — | — | 15.39 | 40.96 | 10.88 | 49.40 | 15.30 | 34.01 | — |
| EV / EBITDA | — | — | — | 15.39 | 40.96 | 10.88 | 49.40 | 15.30 | 34.01 | — |