Cash flow Xero Limited

Equities

XRO

NZXROE0001S2

Software

Market Closed - Australian S.E. Other stock markets 12:21:10 2026-02-11 am EST			5-day change	1st Jan Change
84.00 ^AUD	-0.90%		+3.93%	-26.33%

Feb. 10	Australian shares little changed as financials cap mining gains	RE
Feb. 03	Xero's US Business Shifiting Primarily Toward Payments, Jefferies Says	MT

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Published financial data: XERO LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	828M	1.05B	1.33B	1.63B	1.98B
Other Revenues, Total	20.68M	47.2M	73.61M	83.01M	124M
Total Revenues	849M	1.1B	1.4B	1.71B	2.1B
Cost of Goods Sold, Total	119M	139M	178M	203M	230M
Gross Profit	730M	957M	1.22B	1.51B	1.87B
Selling General & Admin Expenses, Total	414M	547M	640M	726M	892M
R&D Expenses	250M	372M	490M	526M	618M
Other Operating Expenses	4.38M	7.79M	-	-	-
Other Operating Expenses, Total	668M	927M	1.13B	1.25B	1.51B
Operating Income	61.69M	30.3M	91.98M	259M	363M
Interest Expense, Total	-33.62M	-36.1M	-42.8M	-44.51M	-79.13M
Interest And Investment Income	5.16M	4.08M	29.12M	67.48M	136M
Net Interest Expenses	-28.46M	-32.02M	-13.68M	22.97M	57.36M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-9.99M	-2.47M	-4.54M	8.4M	-51.86M
EBT, Excl. Unusual Items	23.23M	-4.2M	73.77M	290M	368M
Restructuring Charges	-	-	-34.69M	-3.01M	-
Merger & Related Restructuring Charges	-	-2.5M	-	-	-
Impairment of Goodwill	-	-20.38M	-94.9M	-	-
Asset Writedown	-	-4.31M	-27.78M	-24.48M	-3.04M
Other Unusual Items	-67.17M	33.76M	7.93M	-685K	-2.44M
EBT, Incl. Unusual Items	-43.94M	2.36M	-75.68M	262M	363M
Income Tax Expense	-63.71M	11.48M	37.86M	87.27M	135M
Earnings From Continuing Operations	19.77M	-9.11M	-114M	175M	228M
Net Income to Company	19.77M	-9.11M	-114M	175M	228M
Net Income - (IS)	19.77M	-9.11M	-114M	175M	228M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	19.77M	-9.11M	-114M	175M	228M
Net Income to Common Excl. Extra Items	19.77M	-9.11M	-114M	175M	228M
Per Share Items
Net EPS - Basic	0.14	-0.06	-0.76	1.15	1.49
Basic EPS - Continuing Operations	0.14	-0.06	-0.76	1.15	1.49
Basic Weighted Average Shares Outstanding	144M	148M	150M	151M	153M
Net EPS - Diluted	-2.66	-0.06	-0.76	1.14	1.47
Diluted EPS - Continuing Operations	-2.66	-0.06	-0.76	1.14	1.47
Diluted Weighted Average Shares Outstanding	150M	150M	150M	153M	155M
Normalized Basic EPS	0.1	-0.02	0.31	1.2	1.51
Normalized Diluted EPS	0.1	-0.02	0.31	1.19	1.49
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	73.61M	44.22M	106M	272M	376M
EBITA	63.79M	33.23M	95.04M	262M	365M
EBIT	61.69M	30.3M	91.98M	259M	363M
EBITDAR	79.68M	53.5M	115M	281M	386M
Total Revenues (As Reported)	849M	1.1B	1.4B	1.71B	2.1B
Effective Tax Rate - (Ratio)	145.01	485.7	-50.02	33.32	37.18
Total Current Taxes	9.41M	10.09M	35.46M	26.06M	72.2M
Total Deferred Taxes	-16.33M	20.74M	2.4M	61.21M	62.65M
Normalized Net Income	14.52M	-2.63M	46.1M	181M	230M
Interest on Long-Term Debt	33.62M	41.22M	42.8M	44.51M	58.75M
Supplemental Operating Expense Items
Marketing Expenses	92.59M	145M	167M	240M	305M
Selling and Marketing Expenses	308M	406M	472M	541M	664M
General and Administrative Expenses	106M	142M	168M	185M	228M
Research And Development Expense From Footnotes	266M	389M	530M	578M	649M
Net Rental Expense, Total	6.07M	9.28M	9.4M	9.04M	9.96M
Imputed Operating Lease Interest Expense	2.26M	2.72M	2.97M	2.72M	4.92M
Imputed Operating Lease Depreciation	3.82M	6.56M	6.42M	6.32M	5.04M
Stock-Based Comp., Other (Total)	42.73M	61.06M	80.86M	95.82M	152M
Total Stock-Based Compensation	42.73M	61.06M	80.86M	95.82M	152M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	658M	404M	231M	499M	768M
Short Term Investments	453M	532M	887M	1.03B	1.56B
Total Cash And Short Term Investments	1.11B	936M	1.12B	1.53B	2.33B
Accounts Receivable, Total	33.2M	50M	54.93M	68.28M	66.96M
Other Receivables	1.83M	11.26M	14.59M	49.34M	57.59M
Total Receivables	35.03M	61.26M	69.52M	118M	125M
Prepaid Expenses	42.93M	43.7M	44.48M	70.2M	76.6M
Other Current Assets, Total	15.68M	30.73M	32.42M	29.76M	42.35M
Total Current Assets	1.2B	1.07B	1.26B	1.75B	2.57B
Gross Property Plant And Equipment	164M	221M	223M	222M	225M
Accumulated Depreciation	-54.46M	-62.9M	-85.29M	-96.66M	-101M
Net Property Plant And Equipment	109M	158M	138M	125M	123M
Long-term Investments	-	-	-	-	43.74M
Goodwill	126M	420M	331M	336M	406M
Other Intangibles, Total	358M	539M	632M	648M	774M
Deferred Tax Assets Long-Term	103M	97.07M	92M	31.71M	13.76M
Other Long-Term Assets, Total	123M	56.85M	33.42M	62.87M	529M
Total Assets	2.02B	2.34B	2.49B	2.95B	4.46B
Liabilities
Accounts Payable, Total	13.39M	15.3M	17.82M	9.86M	12.2M
Accrued Expenses, Total	109M	123M	130M	179M	196M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	2.6M	-	-	-	1.23B
Current Portion of Leases	10.58M	14.29M	17.26M	19.37M	18.4M
Current Income Taxes Payable	1.05M	936K	3.61M	2.76M	3.26M
Unearned Revenue Current, Total	13.11M	25.97M	27.96M	41.19M	49.03M
Other Current Liabilities	18.7M	17.11M	58.33M	11.84M	573M
Total Current Liabilities	169M	196M	255M	264M	2.08B
Long-Term Debt	854M	885M	1.02B	1.11B	-
Long-Term Leases	83.95M	122M	106M	96.97M	91.7M
Deferred Tax Liability Non Current	6.3M	13.38M	12.86M	13.11M	62.9M
Other Non Current Liabilities	165M	92.78M	42.37M	76.53M	31.71M
Total Liabilities	1.28B	1.31B	1.44B	1.56B	2.27B
Common Stock, Total	1.3B	1.58B	1.7B	1.85B	2.04B
Retained Earnings	-321M	-330M	-443M	-269M	-40.95M
Treasury Stock	-1.89M	-	-	-	-
Comprehensive Income and Other	-227M	-213M	-206M	-186M	197M
Total Common Equity	746M	1.03B	1.05B	1.39B	2.2B
Total Equity	746M	1.03B	1.05B	1.39B	2.2B
Total Liabilities And Equity	2.02B	2.34B	2.49B	2.95B	4.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	148M	149M	151M	152M	154M
ECS Total Common Shares Outstanding	147M	149M	151M	152M	154M
Book Value / Share	5.08	6.92	6.98	9.15	14.3
Tangible Book Value	262M	74.57M	90.87M	409M	1.02B
Tangible Book Value Per Share	1.78	0.5	0.6	2.68	6.62
Total Debt	951M	1.02B	1.14B	1.22B	1.34B
Net Debt	-159M	85M	26.03M	-306M	-992M
Debt Equivalent Oper. Leases	48.58M	74.26M	75.16M	72.29M	79.72M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	24.32M	26M	25.81M	24.17M	21.74M
Full Time Employees	3.64K	4.78K	5.08K	4.32K	4.61K
Accumulated Allowance for Doubtful Accounts (Supple)	402K	1.29M	954K	1.28M	1.36M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	19.77M	-9.11M	-114M	175M	228M
Depreciation & Amortization - CF	24.93M	27.85M	30.1M	31.18M	29.51M
Amortization of Goodwill and Intangible Assets - (CF)	2.1M	2.94M	3.05M	2.82M	2.63M
Depreciation & Amortization, Total	27.03M	30.79M	33.15M	33.99M	32.14M
Amortization of Deferred Charges, Total - (CF)	124M	175M	221M	261M	302M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	24.7M	123M	24.48M	3.04M
Stock-Based Compensation (CF)	42.73M	61.06M	80.86M	95.82M	152M
Provision and Write-off of Bad Debts	1.33M	2.43M	4.36M	5.54M	6.67M
Other Operating Activities, Total	22.02M	-43.71M	-5.89M	15.2M	32.86M
Change In Accounts Receivable	-34.05M	-16.1M	2.82M	-51.27M	9.17M
Change In Accounts Payable	-23.88M	11.88M	-3.95M	26.8M	-5.12M
Change in Unearned Revenues	3.51M	3.96M	1.16M	11.96M	4.14M
Change In Income Taxes	-2.57M	-7.36M	7.36M	-28.88M	2.04M
Change In Deferred Taxes	-	-	-	60.5M	60.36M
Change in Other Net Operating Assets	38.46M	3.14M	40.76M	-37.54M	-15.14M
Cash from Operations	219M	236M	390M	592M	812M
Capital Expenditure	-10.56M	-19.03M	-6.75M	-6.59M	-13.14M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-36.28M	-185M	-15.88M	-8.66M	-56.18M
Divestitures	-	-	-	9.55M	-
Sale (Purchase) of Intangible assets	-151M	-222M	-279M	-242M	-290M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-42.07M
Other Investing Activities, Total	-230K	-3.9M	-3.18M	5.64M	-1.85M
Cash from Investing	-198M	-430M	-305M	-242M	-403M
Short Term Debt Issued, Total	814K	4.28M	-	-	-
Long-Term Debt Issued, Total	976M	-	2.15M	-	1.49B
Total Debt Issued	977M	4.28M	2.15M	-	1.49B
Short Term Debt Repaid, Total	-	-2.43M	-	-	-
Long-Term Debt Repaid, Total	-427M	-19.05M	-21.44M	-17.91M	-1.09B
Total Debt Repaid	-427M	-21.49M	-21.44M	-17.91M	-1.09B
Issuance of Common Stock	31.88M	35.98M	31.71M	39.61M	26.88M
Other Financing Activities, Total	-37.35M	-80.3M	-316M	-115M	-606M
Cash from Financing	544M	-61.52M	-303M	-93.26M	-177M
Foreign Exchange Rate Adjustments	-15.31M	1.54M	43.97M	11.68M	38.07M
Net Change in Cash	550M	-254M	-174M	268M	270M
Supplemental Items
Cash Interest Paid	19.09M	8.72M	9.27M	8.49M	23.15M
Cash Income Tax Paid (Refund)	11.48M	20.24M	11.3M	46.55M	58.59M
Levered Free Cash Flow	190M	6.69M	124M	211M	860M
Unlevered Free Cash Flow	189M	-5.54M	116M	203M	858M
Change In Net Working Capital	-140M	15.5M	-44.88M	64.25M	-500M
Net Debt Issued / Repaid	550M	-17.21M	-19.29M	-17.91M	402M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.43	0.87	2.38	5.94	6.11
Return on Total Capital	2.95	1.01	2.7	6.72	7.37
Return On Equity %	3.38	-1.02	-10.88	14.27	12.7
Return on Common Equity	3.38	-1.02	-10.88	14.27	12.7
Margin Analysis
Gross Profit Margin %	85.99	87.29	87.29	88.18	89.04
SG&A Margin	48.81	49.9	45.71	42.38	42.41
EBITDA Margin %	8.67	4.03	7.55	15.89	17.89
EBITA Margin %	7.52	3.03	6.79	15.26	17.37
EBIT Margin %	7.27	2.76	6.57	15.1	17.25
Income From Continuing Operations Margin %	2.33	-0.83	-8.11	10.19	10.83
Net Income Margin %	2.33	-0.83	-8.11	10.19	10.83
Net Avail. For Common Margin %	2.33	-0.83	-8.11	10.19	10.83
Normalized Net Income Margin	1.71	-0.24	3.29	10.58	10.94
Levered Free Cash Flow Margin	22.41	0.61	8.89	12.34	40.91
Unlevered Free Cash Flow Margin	22.32	-0.5	8.26	11.82	40.83
Asset Turnover
Asset Turnover	0.53	0.5	0.58	0.63	0.57
Fixed Assets Turnover	8.66	8.2	9.45	13.02	16.91
Receivables Turnover (Average Receivables)	26.32	25.23	25.28	26.47	29.25
Short Term Liquidity
Current Ratio	7.13	5.45	4.95	6.62	1.24
Quick Ratio	6.79	5.08	4.65	6.24	1.18
Operating Cash Flow to Current Liabilities	1.3	1.2	1.53	2.24	0.39
Days Sales Outstanding (Average Receivables)	13.87	14.47	14.44	13.83	12.48
Average Days Payable Outstanding	36.84	37.55	33.96	25.02	17.48
Long Term Solvency
Total Debt/Equity	127.52	98.76	108.47	87.88	60.97
Total Debt / Total Capital	56.05	49.69	52.03	46.77	37.88
LT Debt/Equity	125.75	97.37	106.84	86.49	4.18
Long-Term Debt / Total Capital	55.27	48.99	51.25	46.03	2.59
Total Liabilities / Total Assets	63.15	55.88	57.68	52.8	50.8
EBIT / Interest Expense	1.83	0.84	2.15	5.81	4.58
EBITDA / Interest Expense	2.64	1.69	2.92	6.58	4.99
(EBITDA - Capex) / Interest Expense	2.32	1.16	2.77	6.43	4.82
Total Debt / EBITDA	10.72	16.71	9.14	4.18	3.39
Net Debt / EBITDA	-1.8	1.39	0.21	-1.04	-2.51
Total Debt / (EBITDA - Capex)	12.17	24.28	9.66	4.28	3.51
Net Debt / (EBITDA - Capex)	-2.04	2.02	0.22	-1.07	-2.6
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.18	29.22	27.63	22.42	22.69
Gross Profit, 1 Yr. Growth %	19.33	31.17	27.63	23.68	23.89
EBITDA, 1 Yr. Growth %	59.44	-43.02	113.52	157.64	38.14
EBITA, 1 Yr. Growth %	78.46	-50.98	146.71	175.2	39.66
EBIT, 1 Yr. Growth %	80.85	-53.88	158.52	181.27	40.17
Earnings From Cont. Operations, 1 Yr. Growth %	492.75	-146.09	1.15K	-253.82	30.45
Net Income, 1 Yr. Growth %	492.75	-146.09	1.15K	-253.82	30.45
Normalized Net Income, 1 Yr. Growth %	106.26	-115.44	-1.2K	293.25	26.91
Diluted EPS Before Extra, 1 Yr. Growth %	-13.41K	-97.69	1.13K	-250	28.95
Accounts Receivable, 1 Yr. Growth %	11.66	50.62	9.85	24.31	-1.93
Net Property, Plant and Equip., 1 Yr. Growth %	26.22	44.77	-12.77	-9.32	-1.38
Total Assets, 1 Yr. Growth %	75.44	15.78	6.27	18.52	51.22
Tangible Book Value, 1 Yr. Growth %	226.92	-71.53	21.87	349.84	148.61
Common Equity, 1 Yr. Growth %	76.61	38.61	1.93	32.17	57.63
Cash From Operations, 1 Yr. Growth %	31.21	8.11	65.18	51.56	37.16
Capital Expenditures, 1 Yr. Growth %	-23.87	71.54	-64.52	-2.44	99.41
Levered Free Cash Flow, 1 Yr. Growth %	-834.95	-96.53	1.15K	69.84	213.06
Unlevered Free Cash Flow, 1 Yr. Growth %	-982.85	-102.89	-5.27K	75.27	222.78
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	23.91	23.58	28.42	25	22.56
Gross Profit, 2 Yr. CAGR %	25.7	25.11	29.39	25.64	23.78
EBITDA, 2 Yr. CAGR %	100.49	-2.13	16.71	134.54	88.66
EBITA, 2 Yr. CAGR %	139.39	-3.58	18.4	160.57	96.05
EBIT, 2 Yr. CAGR %	149.28	-5.76	18.34	169.65	98.56
Earnings From Cont. Operations, 2 Yr. CAGR %	-14.65	65.29	139.61	337.74	41.66
Net Income, 2 Yr. CAGR %	-14.65	65.29	139.61	337.74	41.66
Normalized Net Income, 2 Yr. CAGR %	126.42	-38.91	64.58	557.8	123.4
Diluted EPS Before Extra, 2 Yr. CAGR %	269.49	75.24	-46.68	330.84	39.08
Accounts Receivable, 2 Yr. CAGR %	7.9	29.69	28.63	16.86	10.41
Net Property, Plant and Equip., 2 Yr. CAGR %	9.33	35.18	12.37	-11.06	-5.43
Total Assets, 2 Yr. CAGR %	44.43	42.52	10.92	12.23	33.88
Tangible Book Value, 2 Yr. CAGR %	102.97	-3.53	-41.1	134.14	234.42
Common Equity, 2 Yr. CAGR %	45.3	56.46	18.86	16.07	44.34
Cash From Operations, 2 Yr. CAGR %	38.35	19.1	33.63	58.23	44.18
Capital Expenditures, 2 Yr. CAGR %	-18.05	17.12	-21.98	-41.17	39.48
Levered Free Cash Flow, 2 Yr. CAGR %	83.56	-49.16	-19.62	359.94	162.88
Unlevered Free Cash Flow, 2 Yr. CAGR %	89.08	-49.19	-22.39	852.26	172.52
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	27.8	25.66	24.91	26.39	24.23
Gross Profit, 3 Yr. CAGR %	30.12	27.5	25.95	27.46	25.05
EBITDA, 3 Yr. CAGR %	78.71	34.16	31.8	51.96	96.6
EBITA, 3 Yr. CAGR %	45.94	44	38.53	56.84	111.66
EBIT, 3 Yr. CAGR %	44.2	45.05	39.19	57.93	116.81
Earnings From Cont. Operations, 3 Yr. CAGR %	-7.41	-30.49	224.06	106.7	192.39
Net Income, 3 Yr. CAGR %	-7.41	-30.49	224.06	106.7	192.39
Normalized Net Income, 3 Yr. CAGR %	1.34	-2.47	87.09	120.03	280.1
Diluted EPS Before Extra, 3 Yr. CAGR %	144.96	-31.96	235.71	-24.62	188.19
Accounts Receivable, 3 Yr. CAGR %	11.13	20.59	22.71	27.17	10.22
Net Property, Plant and Equip., 3 Yr. CAGR %	20.95	20.06	16.81	4.62	-7.95
Total Assets, 3 Yr. CAGR %	79.39	34.17	29.23	13.4	23.96
Tangible Book Value, 3 Yr. CAGR %	53.61	5.46	4.29	16	138.86
Common Equity, 3 Yr. CAGR %	45.72	43.04	35.63	23.14	28.54
Cash From Operations, 3 Yr. CAGR %	52.87	27.43	32.82	39.36	50.87
Capital Expenditures, 3 Yr. CAGR %	-11.68	6.56	-21.34	-15.95	-11.62
Levered Free Cash Flow, 3 Yr. CAGR %	94.12	-50.88	68.81	3.14	341.52
Unlevered Free Cash Flow, 3 Yr. CAGR %	98.92	-52.89	75.31	1.82	626.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	32.6	30	28.05	25.39	23.97
Gross Profit, 5 Yr. CAGR %	35.95	33.47	29.83	26.75	25.08
EBITDA, 5 Yr. CAGR %	-2.63	-7.16	52.31	71.58	52.13
EBITA, 5 Yr. CAGR %	-6.76	-14.02	35.87	88.02	59.18
EBIT, 5 Yr. CAGR %	-7.45	-15.61	34.92	91.96	60.44
Earnings From Cont. Operations, 5 Yr. CAGR %	-24.84	-33.3	35.44	45.11	132.74
Net Income, 5 Yr. CAGR %	-24.84	-33.3	35.44	45.11	132.74
Normalized Net Income, 5 Yr. CAGR %	-22.09	-42.53	27.01	129.75	100.85
Diluted EPS Before Extra, 5 Yr. CAGR %	34.52	-34.33	33.11	42.36	136.19
Accounts Receivable, 5 Yr. CAGR %	12.66	14.22	17.83	19.08	17.63
Net Property, Plant and Equip., 5 Yr. CAGR %	47.88	58.39	17.44	6.48	7.35
Total Assets, 5 Yr. CAGR %	43.89	51.54	48.01	24.92	31.07
Tangible Book Value, 5 Yr. CAGR %	7.63	-5.42	4.69	45.09	66.21
Common Equity, 5 Yr. CAGR %	21.73	35.77	34.32	31.57	39.05
Cash From Operations, 5 Yr. CAGR %	44.45	121.82	44.87	38.96	37.25
Capital Expenditures, 5 Yr. CAGR %	17.33	23.24	-15.12	-15.98	-1.09
Levered Free Cash Flow, 5 Yr. CAGR %	29.31	-31.53	36.78	30.23	101.53
Unlevered Free Cash Flow, 5 Yr. CAGR %	29.22	-34.04	36.87	30.77	109.14