LexinFintech Holdings Ltd.
LX · Finance Services · EDGAR filings ↗
Grade
C64Chinese online consumer-finance platform generating strong free cash flow but with shrinking loan book and heavy regulatory overhang.
Strengths
- FCF $3.26B (98.5th pct) and OCF margin 27% (85th pct); cash $2.4B (92nd pct)
- Profitable, established platform with diversified institutional funding
Risks
- Revenue -7.4% (31st pct) and outstanding balance declining (RMB110B→96.6B)
- Extensive PRC cybersecurity/data, financial-guarantee, VIE and currency-control risks
Notable findings
- Strong balance sheetStrong balance sheet — $343M cash & investments
Key metrics
Gross margin
34.0%
Net margin
12.8%
Return on assets
7.2%
Revenue growth (QoQ)
-3.4%
Net-income growth
59.1%
Current ratio
1.9×
Free cash flow
$466M
Cash & investments
$343M
Stock comp / revenue
0.7%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001193125-26-189256 ↗ |
| 20-F | 2025-04-18 | 2024-12-31 | 0000950170-25-055749 ↗ |
| 20-F | 2024-04-29 | 2023-12-31 | 0000950170-24-049424 ↗ |
| 20-F | 2023-04-26 | 2022-12-31 | 0000950170-23-014561 ↗ |
| 20-F | 2022-04-29 | 2021-12-31 | 0000950170-22-006608 ↗ |
| 20-F | 2021-04-28 | 2020-12-31 | 0001564590-21-021320 ↗ |
| 20-F | 2020-04-30 | 2019-12-31 | 0001104659-20-053901 ↗ |
| 20-F | 2019-04-30 | 2018-12-31 | 0001104659-19-025320 ↗ |
| 20-F | 2018-04-26 | 2017-12-31 | 0001104659-18-027174 ↗ |