XPEL, Inc. (XPEL) Stock

XPEL, Inc. (XPEL) is a Industrials stock trading at $50.31 (as of 2026-08-20), with a market capitalization of $1.39B and a trailing P/E of 25.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

XPEL, Inc. manufactures, sells, distributes, and installs aftermarket automotive products, including surface and paint protection films and related headlight protection, as well as automotive and architectural window films. It also offers related accessories and software, selling through independent installers, dealerships, distributors, company-owned installation locations, franchisees, and online channels.

Understand XPEL, Inc.: how it makes money

XPEL manufactures, sells, and installs after-market automotive surface and paint protection films, headlight protection, and window films, and it also sells related tools and proprietary software, earning revenue from product sales and services.

XPEL’s profit engine is the ability to convert its dealer services capacity into product and service activity, with proprietary software usage (Gapnext adoption) acting as an operating lever that supports how effectively customers run the program.

Revenue by segment (latest quarter)
US	$0.1B
EU	$0.0B
China	$0.0B
Canada	$0.0B

Business quality (Mixed): Good: proprietary software and operating metrics (dealer capacity, Gapnext usage) are directly linked to the operating model. Limited: the provided segment breakdown is mainly geographic, and the product and service line items are not shown as fully non-overlapping reportable segments.

Valuation: At 24× earnings, XPEL trades in line with the Fabricated Products average (24×). Note: one-time items can distort reported P/E.

Bull case

Dealer Services Capacity is 65%, which suggests the dealer network has meaningful throughput to support installation and related activity: Operating metric cited: Dealer Services Capacity (65%).
Gapnext customer usage of the new software is very high at 99.9%, which can support consistent execution across the installed base: Operating metric cited: Gapnext Customers Using the New Software (99.9%).

Bear case

Revenue is geographically concentrated, with the United States at 0.06B and the European Union at 0.02B in the provided breakdown: Geographic revenue candidates cited: Revenue from the United States (0.06B), Revenue from the European Union (0.02B).
If Gapnext adoption declines from the current level, it could reduce the operating effectiveness tied to the proprietary software platform: Operating metric cited: Gapnext Customers Using the New Software (99.9%).

Valuation — source: SEC EDGAR (first-party)
Price	$50.31
Market Cap	$1.39B
P/E Ratio	25.3
EV / EBITDA	18.5
Price / Book	4.35
Price / Sales	2.73
FCF Yield	0.1%
DCF Value (model)	$33.35
DCF Upside vs Price	-33.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$476.20M
Net Margin	10.8%
Revenue Growth (YoY)	14.7%
EPS Growth (YoY)	10.2%
FCF Growth (YoY)	-238.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	11.82 (safe)

Valuation vs Sector & Industry
Stock P/E	25.3
Sector P/E (Industrials)	25.9
Industry P/E (Fabricated Products)	25.3
vs Sector	-2.1%
vs Industry	0.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	WASATCH ADVISORS LP ($181.06M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Fabricated Products
CEO	Ryan L. Pape
Employees	1,143
Country	US
IPO Date	2019-07-01

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.