EXPI · Exp World Holdings, Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · EXPI

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$4.77B	$4.57B	$4.28B	$4.60B	$3.77B	$1.80B
Cost of Revenue	-	-	-	-	-	-
Gross Profit	$342.39M	$342.39M◇	$319.92M◇	-	-	-
R&D	$69.62M	$58.18M	$59.55M◇	$54.20M◇	-	-
SG&A	$274.87M	$252.37M	$319.15M	$346.13M	$249.70M	$122.80M
Total Operating Expenses	$355.04M	$4.59B	$4.30B	$4.59B	$3.74B	$1.77B
D&A	$6.87M	$7.83M	$10.89M	$4.21M	$4.97M	$3.36M
Operating Income	($21.47M)	($18.99M)	($16.46M)	$5.41M	$34.15M	$31.59M
Interest Expense	-	-	-	-	-	-
Income Tax	$2.48M	$1.07M	($4.46M)	($10.84M)	($47.49M)	$413.0K
Net Income	($22.71M)	($21.27M)	($8.97M)	$15.44M	$81.22M	$31.13M
EPS - Basic	($0.14)	($0.14)	($0.06)	$0.10	$0.56	$0.22
EPS - Diluted	($0.14)	($0.14)	($0.06)	$0.10	$0.51	$0.21

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$124.25M	$113.61M	$126.86M	$121.59M	-	$100.14M
Accounts Receivable	$108.84M	$87.69M	$85.97M	$87.26M	$133.49M	$76.95M
Inventory	-	-	-	-	-	-
Accounts Payable	$14.61M	$10.48M	$8.90M	$10.39M	$7.16M	$3.96M
Current Assets	$304.87M	$267.97M	$266.48M	$255.11M	$319.31M	$212.22M
Total Assets	$442.48M	$390.72M	$385.67M	$381.68M	$413.83M	$242.19M
Current Liabilities	$199.70M	$185.85M	$141.64M	$127.30M	$186.81M	$96.65M
Long-term Debt	-	$20.0K◇	$20.0K	$4.70M	$2.71M	$2.88M
Total Liabilities	$199.70M	$185.85M	$141.66M	$132.69M	$190.29M	$99.60M
Stockholders' Equity	$242.78M	$204.87M	$242.84M	$247.82M	$222.17M	$141.58M
Retained Earnings	($121.62M)	($68.14M)	($16.77M)	$20.72M	$30.51M	($39.16M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$118.61M	$191.51M	$209.13M	$210.53M	$246.89M	$119.66M
Investing Cash Flow	($23.47M)	($19.47M)	($13.50M)	($22.46M)	($18.92M)	($16.96M)
Financing Cash Flow	($86.54M)	($170.38M)	($184.09M)	($204.51M)	($179.92M)	($21.89M)
CapEx	$9.57M	$6.48M	$5.36M	$12.05M	$13.42M	$6.44M
Free Cash Flow	$109.04M	$185.03M	$203.77M	$198.48M	$233.47M	$113.22M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	7.2%	7.5%	7.5%	-	-	-
Operating margin	-0.4%	-0.4%	-0.4%	0.1%	0.9%	1.8%
EBITDA margin	-0.3%	-0.2%	-0.1%	0.2%	1.0%	1.9%
Net margin	-0.5%	-0.5%	-0.2%	0.3%	2.2%	1.7%
Free cash flow margin	2.3%	4.1%	4.8%	4.3%	6.2%	6.3%
FCF / Net income	-4.80	-8.70	-22.71	12.85	2.87	3.64
R&D / Revenue	1.5%	1.3%	1.4%	1.2%	-	-
SG&A / Revenue	5.8%	5.5%	7.5%	7.5%	6.6%	6.8%
Effective tax rate	-	-	-	-235.3%	-140.8%	1.3%
Return on assets	-5.1%	-5.4%	-2.3%	4.0%	19.6%	12.9%
Return on equity	-9.4%	-10.4%	-3.7%	6.2%	36.6%	22.0%
Return on invested capital	-	-7.3%	-5.4%	2.1%	15.2%	21.6%
Liquidity
Current ratio	1.53	1.44	1.88	2.00	1.71	2.20
Quick ratio	1.53	1.44	1.88	2.00	1.71	2.20
Cash ratio	0.62	0.61	0.90	0.96	-	1.04
Leverage
Debt / Equity	-	0.00	0.00	0.02	0.01	0.02
Debt / Assets	-	0.00	0.00	0.01	0.01	0.01
Debt / EBITDA	-	-	-	0.49	0.07	0.08
Interest coverage	-	-	-	-	-	-
Equity multiplier	1.82	1.91	1.59	1.54	1.86	1.71
Liabilities / Assets	0.45	0.48	0.37	0.35	0.46	0.41
Efficiency
Asset turnover	10.79	11.69	11.10	12.05	9.11	7.43
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	8d	7d	7d	7d	13d	16d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	110.8x	66.1x	150.3x
P / B	5.8x	8.6x	9.8x	7.0x	23.9x	33.8x
P / S	0.3x	0.4x	0.6x	0.4x	1.4x	2.7x
EV / EBITDA	-	-	-	167.7x	135.9x	134.1x
Growth
Revenue growth (YoY)	4.5%	6.7%	-6.9%	21.9%	109.7%	259.6%
Revenue CAGR (3y)	1.2%	6.6%	33.5%	109.5%	96.1%	125.8%
Revenue CAGR (5y)	21.6%	55.6%	53.6%	96.7%	133.6%	139.4%
Gross profit growth (YoY)	0.0%	7.0%	-	-	-	-
Operating income growth (YoY)	-13.0%	-15.4%	-	-84.2%	8.1%	-
Net income growth (YoY)	-6.8%	-137.0%	-	-81.0%	160.9%	-
EPS growth (YoY)	0.0%	-133.3%	-	-80.4%	142.9%	-
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-41.1%	-9.2%	2.7%	-15.0%	106.2%	125.6%
FCF CAGR (5y)	-0.7%	29.8%	55.8%	-	228.8%	230.1%
Book value growth (YoY)	18.5%	-15.6%	-2.0%	11.5%	56.9%	372.3%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$4.77B total

North American Realty$4.62B · 96.9%

International Realty$146.93M · 3.1%

All Other Segments$2.87M · 0.1%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

11.06

Safe

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✗Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✓Current ratio improved
✗No share dilution
✗Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Real Estate Agents & Managers (For Others)

Company	Revenue (last FY)	Net margin	ROE
VAC	$5.03B	-6.1%	-15.5%
JLL	$26.12B	3.0%	10.6%
COMP	$6.96B	-0.8%	-7.5%
RDFN	-	-	-
OPEN	$4.37B	-29.7%	-129.4%

Comparing EXP World Holdings against the 5 most active filers in the same SIC group.

Dividends

$0.20/share trailing 12 months · 0.0% YoY

Ex-date	Per share
May 22, 2026	$0.0500
Mar 9, 2026	$0.0500
Nov 17, 2025	$0.0500
Aug 15, 2025	$0.0500
May 19, 2025	$0.0500
Mar 4, 2025	$0.0500
Nov 18, 2024	$0.0500
Aug 14, 2024	$0.0500
May 10, 2024	$0.0500
Mar 7, 2024	$0.0500
Nov 15, 2023	$0.0500
Aug 17, 2023	$0.0500
May 11, 2023	$0.0450
Mar 10, 2023	$0.0450
Nov 10, 2022	$0.0450
Aug 11, 2022	$0.0450
May 13, 2022	$0.0400
Mar 10, 2022	$0.0400
Nov 12, 2021	$0.0400
Aug 13, 2021	$0.0400

Cells marked with a small ◇ are sourced from SEC's bulk Financial Statement Data Sets, which can lose dimensional context (notably Revenue and Operating Income for issuers that report by segment). These cells will be replaced with authoritative values from the Company Facts API as the backfill completes.