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Xiaomi Corp. Unsponsored ADR Class B
(OTC:XIACY)
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Rating:62Neutral
Price Target:
$17.50
▼(-1.19% Downside)
Action:Reiterated
Date:08/21/26
The score is primarily held back by the sharp TTM cash-flow and free-cash-flow collapse despite strong reported profitability, creating a near-term quality-of-earnings risk. Technicals are mixed (only modest short-term strength while still below longer-term averages), valuation is broadly neutral at ~18.9x earnings without dividend support, and the earnings call outlook acknowledges continued short-term margin and demand pressure despite solid operational highlights and longer-term AI/EV strategy.
Positive Factors
Global smartphone position
Sustained top-three global smartphone positioning gives Xiaomi meaningful scale, brand recognition, and distribution reach across multiple regions. This installed base supports recurring device upgrades, cross-selling of AIoT products, and continued expansion of the broader ecosystem over the next several quarters.
Negative Factors
Sharp cash-flow deterioration
The collapse in free cash flow creates a material quality-of-earnings concern because reported profits are currently converting into cash far less effectively than in prior years. If sustained, weaker cash generation could constrain reinvestment, increase working-capital dependence, and reduce financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Global smartphone position
Sustained top-three global smartphone positioning gives Xiaomi meaningful scale, brand recognition, and distribution reach across multiple regions. This installed base supports recurring device upgrades, cross-selling of AIoT products, and continued expansion of the broader ecosystem over the next several quarters.
Read all positive factors
Xiaomi Corp. Unsponsored ADR Class B (XIACY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$84.52B
Dividend YieldN/A
Average Volume (3M)19.78K
Price to Earnings (P/E)17.4
Beta (1Y)0.60
Revenue Growth5.42%
EPS Growth-10.62%
CountryUS
Employees56,531
SectorTechnology
Sector Strength88
IndustryConsumer Electronics
Share Statistics
EPS (TTM)6.35
Shares Outstanding4,273,097,000
10 Day Avg. Volume0
30 Day Avg. Volume19,776
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)3.39
Price to Sales (P/S)2.03
P/FCF Ratio42.29
Enterprise Value/Market Cap0.72
Enterprise Value/Revenue0.14
Enterprise Value/Gross Profit0.66
Enterprise Value/Ebitda1.76
Forecast
1Y Price Target
$30.00Price Target Upside69.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.71
Revenue Forecast (FY)$65.16B
Xiaomi Corp. Unsponsored ADR Class B Business Overview & Revenue Model
Company Description
Xiaomi Corporation functions as an investment holding entity, delivering a range of hardware, software, and online services. Its operations are geographically widespread, reaching mainland China, India, Europe, and various other international mark...
How the Company Makes Money
Xiaomi makes money primarily through (1) selling hardware and (2) monetizing its user base via internet services.
1) Hardware sales (product revenue):
- Smartphones: Revenue is generated from the sale of Xiaomi-branded smartphones across multiple...
Xiaomi Corp. Unsponsored ADR Class B Earnings Call Summary
Earnings Call Date:Aug 18, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 24, 2026
Earnings Call Sentiment Neutral
The call presented a balanced mix of solid operational and strategic progress — record-high smartphone ASP and strong rankings, notable EV delivery growth and AI/robotics technology milestones — alongside meaningful near-term headwinds: historically high memory costs, a decline in smartphone shipments, inventory build-up, and operating losses in AI/EV initiatives due to heavy investment. Management emphasized long-term strategic investment (AI, chips, OS, robotics) and gradual monetization of models while acknowledging short-term margin pressure and volatility.Positive Updates
Total Revenue and Adjusted Profit
Group total revenue of RMB 108.9 billion in Q2 2026 with adjusted net profit of RMB 6.2 billion for the quarter.
Negative Updates
High and Volatile Memory Costs
Memory and core component costs remain historically high and volatile (management noted memory prices rose ~5x vs Q2 last year as an indicative comment), putting pressure on product costs, margins and pricing strategies across smartphone and other hardware lines.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue and Adjusted Profit
Group total revenue of RMB 108.9 billion in Q2 2026 with adjusted net profit of RMB 6.2 billion for the quarter.
Read all positive updates
Company Guidance
The company guided that short-term headwinds will persist—memory costs are expected to remain high (noted at roughly 5x Q2 last year), consumer demand recovery will be slow and competition intense—but reiterated its long‑term strategy to ramp investment in next‑generation hard‑core technologies (AI chips, OS and embodied intelligence). Key Q2 metrics underpinning that guidance include group revenue of RMB 108.9 billion, adjusted net profit of RMB 6.2 billion and group gross margin of 19.8%; Mobile×AIoT revenue of RMB 84.0 billion (segment gross margin 20%) with smartphone revenue RMB 42.1 billion (38.7% of group) on global shipments of 31.2 million units and smartphone gross margin 8.5% with a record‑high ASP (up ~RMB300); IoT revenue RMB 31.3 billion (IoT gross margin 20.1%), Internet services revenue RMB 9.0 billion with MAUs 770 million (Mainland China MAUs 198 million, +7% YoY) and Internet services gross margin 76.8%; Smart EV, AI & new initiatives revenue RMB 24.9 billion (23% of group) including RMB 23.9 billion EV sales and 104,199 vehicle deliveries (sixth consecutive YoY growth), segment gross margin 19.2% and an operating loss of RMB 2.6 billion. They also highlighted R&D spend of RMB 9.2 billion in Q2 (R&D H1 RMB 18.2 billion, +25.6% YoY, with ~30% AI‑related), Q2 CapEx RMB 3.6 billion (65.8% to innovative businesses), raw material inventory rising to ~RMB 40 billion, API/token monetization beginning after MiMo call volume jumped from ~1.5 trillion to ~10.5 trillion in two months, continued share buybacks (~HKD 11.7 billion YTD), and product rollouts (SkyNomad launch in September, overseas EV expansion targeted H2 2027) as they balance near‑term pressures with sustained strategic investment.Xiaomi Corp. Unsponsored ADR Class B Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 434.99B | 444.83B | 365.91B | 270.97B | 280.04B | 328.31B |
| Gross Profit | 93.05B | 99.03B | 76.56B | 57.48B | 47.58B | 58.26B |
| EBITDA | 34.76B | 36.78B | 29.34B | 28.40B | 8.77B | 30.32B |
| Net Income | 32.79B | 40.51B | 23.66B | 17.48B | 2.47B | 19.34B |
Balance Sheet | ||||||
| Total Assets | 516.22B | 508.42B | 403.16B | 324.25B | 273.51B | 292.89B |
| Cash, Cash Equivalents and Short-Term Investments | 125.91B | 112.35B | 101.77B | 107.83B | 67.78B | 86.17B |
| Total Debt | 39.29B | 41.84B | 36.01B | 29.83B | 26.06B | 30.68B |
| Total Liabilities | 246.31B | 241.93B | 213.95B | 159.99B | 129.58B | 155.46B |
| Stockholders Equity | 269.80B | 266.39B | 188.74B | 164.00B | 143.66B | 137.21B |
Cash Flow | ||||||
| Free Cash Flow | 454.66M | 21.37B | 32.00B | 35.03B | -10.19B | 2.62B |
| Operating Cash Flow | 8.14B | 34.14B | 39.30B | 41.30B | -4.39B | 9.79B |
| Investing Cash Flow | 6.67B | -71.68B | -35.39B | -35.17B | 15.55B | -45.01B |
| Financing Cash Flow | -13.37B | 30.77B | -4.00B | -504.97M | -7.85B | 4.50B |
Xiaomi Corp. Unsponsored ADR Class B Technical Analysis
Negative
17.71
Price Trends
17.05
Negative
16.97
Negative
19.44
Negative
Market Momentum
-0.53
Positive
33.65
Neutral
5.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XIACY, the sentiment is Negative. The current price of 17.71 is above the 20-day moving average (MA) of 16.37, above the 50-day MA of 17.05, and below the 200-day MA of 19.44, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 33.65 is Neutral, neither overbought nor oversold. The STOCH value of 5.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XIACY.
Xiaomi Corp. Unsponsored ADR Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $4.91T | 38.50 | 137.18% | 0.31% | 14.24% | 32.57% | |
63 Neutral | $142.78B | -103.78 | -2.74% | 0.66% | -1.74% | -118.42% | |
62 Neutral | $84.52B | 17.42 | 12.35% | ― | 5.42% | -10.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $2.04B | -55.18 | -9.55% | ― | 5.64% | ― | |
50 Neutral | $222.70M | -1.21 | -529.55% | ― | -23.86% | -41.32% | |
47 Neutral | $54.61M | -0.09 | -27.93% | 0.84% | 38.14% | 43.05% |
* Technology Sector Average
XIACY
Xiaomi Corp. Unsponsored ADR Class B
16.54
-15.00
-47.57%
AAPL
Apple
336.64
89.89
36.43%
GPRO
GoPro
1.19
-0.88
-42.51%
SONY
Sony Group
24.12
-4.75
-16.45%
ZEPP
Zepp Health
3.72
-48.12
-92.82%
SONO
Sonos
17.26
0.77
4.67%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.