XL Fleet Corporation Stock Research

XL Stock Price

XL RSI Chart

XL Valuation

Market Cap

116.5M

Price/Earnings (Trailing)

-1.77

Price/Sales (Trailing)

5.08

Price/Free Cashflow

-1.89

XL Price/Sales (Trailing)

XL Profitability

Operating Margin

35.43%

Return on Equity

-20.2%

Return on Assets

-7.18%

Free Cashflow Yield

-52.92%

XL Fundamentals

XL Revenue

Revenue (TTM)

22.9M

Revenue Y/Y

161.25%

Revenue Q/Q

368.87%

XL Earnings

Earnings (TTM)

-65.9M

Earnings Y/Y

-192.19%

Earnings Q/Q

-73.3%

Price Action

Last 7 days

39.7%

Last 30 days

39.0%

Last 90 days

-18.6%

Trailing 12 Months

-79.5%

XL Financial Health

Current Ratio

5.38

XL Investor Care

Shares Dilution (1Y)

3.20%

Diluted EPS (TTM)

-0.46

Financials for XL Fleet Corporation

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	29.0%	22,937,000	17,777,000	18,720,000	15,600,000	16,784,500
Gross Profit	-96.1%	-810,000	-413,000	-696,000	2,921,000	-
Operating Expenses	96.9%	145,472,000	73,876,000	-	-	-
S&GA Expenses	31.3%	69,715,000	53,114,000	51,135,000	47,435,000	34,317,000
R&D Expenses	-7.3%	11,078,000	11,947,000	12,352,000	10,775,000	8,586,000
EBITDA	-	-1,539,521	-	-	-	-
EBITDA Margin	-	-0.01	-	-	-	-
EBT Margin	-	-0.01	-	-	-	-
Interest Expenses	-5697.3%	-2,145,000	-37,000	-40,000	-39,000	-2,114,000
Net Income	-28.1%	-65,904,000	-51,430,000	-49,201,000	28,790,000	5,538,000
Net Income Margin	-815.2%	-2.87	-0.31	0.97	1.85	-
Free Cahsflow	-2.2%	-61,662,000	-60,354,000	-60,191,000	-52,135,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	159.4%	918	354	366	393	410
Current Assets	-8.5%	316	345	357	375	389
Cash Equivalents	-25.7%	240	322	334	352	367
Inventory	-0.6%	14.00	14.00	14.00	15.00	18.00
Net PPE	17960.7%	404	2.00	2.00	-	3.00
Goodwill	Infinity%	159	-	9.00	9.00	-
Liabilities	2856.4%	553	19.00	19.00	31.00	40.00
Current Liabilities	394.5%	59.00	12.00	12.00	17.00	17.00
LT Debt, Non Current	8083733.3%	485	0.00	0.00	0.00	0.00
Shareholder's Equity	-2.7%	326	335	347	362	370
Retained Earnings	-17.2%	-150	-128	-115	-99.41	-84.29
Additional Paid-In Capital	0.2%	464	463	462	461	454
Shares Outstanding	1.0%	144	142	142	141	139
Minority Interest	Infinity%	12.00	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-4.2%	-60.67	-58.22	-57.63	-48.49	-41.01
Share Based Compensation	17.9%	10.00	8.00	8.00	8.00	3.00
Cashflow From Investing	-668.2%	-32.26	-4.20	-12.97	-14.83	-14.09
Cashflow From Financing	-1742.3%	-2.33	0.00	-0.07	85.00	420

Risks for XL

What is the probability of a big loss on XL?

58.3%

Probability that XL Fleet Corporation stock will be more than 20% underwater in next one year

57.1%

Probability that XL Fleet Corporation stock will be more than 30% underwater in next one year.

54.2%

Probability that XL Fleet Corporation stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does XL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if XL Fleet Corporation was unfortunately bought at previous high price.

Drawdowns

Returns for XL

Cumulative Returns on XL

-51.3%

3-Year Cumulative Returns

Which funds bought or sold XL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.03	256	10,256	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	3,000	74,000	-%
2023-02-21	MACQUARIE GROUP LTD	new	-	2,737,000	2,737,000	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	new	-	322	322	-%
2023-02-15	Apollon Wealth Management, LLC	added	0.71	959	12,959	-%
2023-02-15	JANE STREET GROUP, LLC	added	156	176,363	283,363	-%
2023-02-15	Steward Partners Investment Advisory, LLC	sold off	-100	-	-	-%
2023-02-14	Marathon Trading Investment Management LLC	unchanged	-	2,000	67,000	0.01%
2023-02-14	Ergoteles LLC	sold off	-100	-144,000	-	-%
2023-02-14	Vontobel Holding Ltd.	reduced	-5.25	-999	58,001	-%

Latest Funds Activity

Are funds buying XL calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own XL

No. of Funds

XL Fleet Corporation News

Schedule 13G FIlings of XL Fleet Corporation

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	3.24%	4,674,346	SC 13G/A
Mar 31, 2022	hynes thomas j. iii	5.2%	7,371,683	SC 13D/A
Feb 11, 2022	pivotal investment holdings ii llc	7.0%	9,733,333	SC 13G/A
Feb 04, 2022	ingka investments ventures us b.v.	4.8%	6,629,234	SC 13G/A
Feb 16, 2021	pivotal investment holdings ii llc	7.3%	9,733,333	SC 13G
Feb 03, 2021	manulife financial corp	1.84%	-	SC 13G/A
Feb 01, 2021	linden capital l.p.	0.1%	186,021	SC 13G/A

XL Fair Value

XL Fleet Corporation fair value in different scenarios

The table shows the Fair Value estimates for XL Fleet Corporation for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	0.87 -	1.00 -	1.44 -	2.08 -	2.60 -
Current Inflation	0.84 -	0.95 -	1.33 -	1.87 -	2.31 -
Very High Inflation	0.80 -	0.89 -	1.20 -	1.63 -	1.98 -

Historical XL Fleet Corporation Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of XL Fleet Corporation

View All Filings

Date Filed	Form Type	Document
Mar 13, 2023	144	Notice of Insider Sale Intent
Mar 06, 2023	144	Notice of Insider Sale Intent
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 02, 2023	8-K	Current Report
Jan 17, 2023	EFFECT	EFFECT
Jan 10, 2023	POS AM	POS AM
Dec 21, 2022	8-K	Current Report
Dec 19, 2022	4	Insider Trading
Dec 15, 2022	4	Insider Trading
Dec 15, 2022	8-K	Current Report

Latest Insider Trading transactions for XL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-09-15	Miller John P.	bought	22,200	1.11	20,000	-
2022-09-09	Fong Christian S.	sold (taxes)	-329,144	1.17	-281,320	president
2022-09-09	Fong Christian S.	acquired	1,063,640	0.585	1,818,180	president
2022-05-20	Calhoun Colleen	acquired	-	-	250,000	vp/general manager of xl grid
2022-05-20	Kenhard Michael	acquired	-	-	200,000	cto and vp of engineering
2022-05-20	Constas Stacey	acquired	-	-	201,613	general counsel
2022-05-10	Tech Eric M.	acquired	-	-	806,452	ceo
2022-05-04	Sclarsic Sarah	acquired	-	-	96,774	-
2022-05-04	Miller John P.	acquired	-	-	241,935	-
2022-05-04	Griffin Kevin	acquired	-	-	96,774	-

About XL Fleet Corporation

Eric M. Tech

xlfleet.com

180

XL Fleet Corp. provides fleet electrification solutions for commercial vehicles in North America. Its products include hybrid electric drive systems are comprised of an electric motor that is mounted onto the vehicle's drive shaft, an inverter motor controller, and a lithium-ion battery pack to store energy to be used for propulsion; plug-in hybrid electric drive system, which are fitted to vehicles. In addition, the company offers vehicle electrification and infrastructure solutions, and charging stations. It serves end-use customer base comprising Fortune 500 corporate enterprises, public utilities, and various municipalities. The company was incorporated in 2009 and is headquartered in Boston, Massachusetts.

XL Income Statement

2022-09-30

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues	$ 8,360	$ 3,200	$ 16,133	$ 7,569
Operating expenses:
Engineering, research and development	2,348	3,217	7,741	7,438
Selling, general, and administrative expenses	29,343	12,742	53,802	31,522
Impairment of goodwill	0	0	8,606	0
Total operating expenses	36,368	18,469	82,467	45,593
Loss from operations	(28,008)	(15,269)	(66,334)	(38,024)
Other (income) expense:
Interest expense, net	2,122	14	2,141	35
Gain on extinguishment of debt	0	0	(4,527)	0
Loss on asset disposal	771	24	755	45
Change in fair value of obligation to issue shares of common stock to sellers of World Energy	(42)	(532)	(540)	(18)
Change in fair value of warrant liability	(646)	(7,229)	(5,146)	(81,960)
Change in fair value of interest rate swaps	(8,533)	0	(8,533)	0
Other income	(94)	(15)	(123)	(40)
Net (loss) income	(21,586)	(7,531)	(50,361)	43,914
Net income (loss)	419	0	419	0
Net (loss) income attributable to XL Fleet	$ (22,005)	$ (7,531)	$ (50,780)	$ 43,914
Net (loss) income attributable to XL Fleet per share, basic (in dollars per share)	$ (0.15)	$ (0.05)	$ (0.36)	$ 0.32
Net (loss) income attributable to XL Fleet per share, diluted (in dollars per share)	$ (0.15)	$ (0.05)	$ (0.36)	$ 0.30
Weighted-average shares outstanding, basic (in shares)	142,895,483	139,392,170	142,142,971	138,082,355
Weighted-average shares outstanding, diluted (in shares)	142,895,483	139,392,170	142,142,971	148,469,108
Solar energy systems depreciation
Operating expenses:
Cost of revenues	$ 1,334	$ 0	$ 1,334	$ 0
Operations and maintenance
Operating expenses:
Cost of revenues	640	0	640	0
Loan servicing
Operating expenses:
Cost of revenues	2	0	2	0
Inventory and other direct costs
Operating expenses:
Cost of revenues	$ 2,701	$ 2,510	$ 10,342	$ 6,633

XL Balance Sheet

2022-09-30

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 239,512	$ 351,676
Restricted cash	32,122	150
Accounts receivable, net	17,159	6,477
Inventory, net	14,101	15,262
Interest rate swap assets, current	7,229	0
Prepaid expenses and other current assets	5,674	1,040
Total current assets	315,797	374,605
Solar energy systems, net	404,380	0
Other property and equipment, net	1,655	3,495
Interest rate swap assets, non-current	28,001	0
Intangible assets, net	1,061	1,863
Right-of-use asset	7,635	4,564
Goodwill	158,636	8,606
Other assets	466	88
Total assets	917,631	393,221
Current liabilities:
Current portion of long-term debt	25,340	78
Accounts payable	6,806	3,799
Lease liability, current	1,462	900
Accrued expenses and other current liabilities	25,101	11,856
Total current liabilities	58,709	16,633
Long-term debt, net of current portion	485,030	21
Deferred revenue	1,458	691
Lease liability, non-current	7,003	3,599
Warrant liabilities	259	5,405
Contingent consideration	73	541
Other long-term liabilities	10	0
New market tax credit obligation	0	4,521
Total liabilities	552,542	31,411
Redeemable noncontrolling interests	38,900	0
Stockholders’ equity
Common stock, $0.0001 par value; 350,000,000 shares authorized at September 30, 2022 and December 31, 2021; 143,863,062 and 140,540,671 issued and outstanding at September 30, 2022 and December 31, 2021, respectively	14	14
Additional paid-in capital	464,042	461,207
Noncontrolling interests	12,324	0
Accumulated deficit	(150,191)	(99,411)
Total stockholders’ equity	326,189	361,810
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$ 917,631	$ 393,221