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Side-by-side financial comparison of Maase Inc. (MAAS) and X3 Holdings Co., Ltd. (XTKG). Click either name above to swap in a different company.
Maase Inc. is the larger business by last-quarter revenue ($9.9M vs $5.0M, roughly 2.0× X3 Holdings Co., Ltd.). X3 Holdings Co., Ltd. produced more free cash flow last quarter ($-1.7M vs $-18.3M).
MAAS vs XTKG — Head-to-Head
Income Statement — Q2 FY2023 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.9M | $5.0M |
| Net Profit | — | — |
| Gross Margin | 78.7% | — |
| Operating Margin | -55.9% | — |
| Net Margin | — | — |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 25 | — | $5.0M | ||
| Q2 24 | — | $6.6M | ||
| Q4 22 | $9.9M | — |
| Q2 25 | — | — | ||
| Q2 24 | — | $-57.6M | ||
| Q4 22 | — | — |
| Q2 25 | — | — | ||
| Q2 24 | — | 28.0% | ||
| Q4 22 | 78.7% | — |
| Q2 25 | — | — | ||
| Q2 24 | — | -219.1% | ||
| Q4 22 | -55.9% | — |
| Q2 25 | — | — | ||
| Q2 24 | — | -874.1% | ||
| Q4 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.9M | $2.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $31.6M | $42.6M |
| Total Assets | $47.0M | $71.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | — | $2.6M | ||
| Q2 24 | — | $1.5M | ||
| Q4 22 | $10.9M | — |
| Q2 25 | — | $42.6M | ||
| Q2 24 | — | $125.5M | ||
| Q4 22 | $31.6M | — |
| Q2 25 | — | $71.7M | ||
| Q2 24 | — | $171.3M | ||
| Q4 22 | $47.0M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-18.2M | $-1.1M |
| Free Cash FlowOCF − Capex | $-18.3M | $-1.7M |
| FCF MarginFCF / Revenue | -184.4% | -34.1% |
| Capex IntensityCapex / Revenue | 1.0% | 12.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | — | $-1.1M | ||
| Q2 24 | — | $-7.0M | ||
| Q4 22 | $-18.2M | — |
| Q2 25 | — | $-1.7M | ||
| Q2 24 | — | $-7.0M | ||
| Q4 22 | $-18.3M | — |
| Q2 25 | — | -34.1% | ||
| Q2 24 | — | -106.9% | ||
| Q4 22 | -184.4% | — |
| Q2 25 | — | 12.1% | ||
| Q2 24 | — | 0.3% | ||
| Q4 22 | 1.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAAS
| Wealth management | $7.8M | 78% |
| Insurance consulting | $1.0M | 10% |
| Other | $975.0K | 10% |
| Asset management | $168.0K | 2% |
XTKG
| Consulting and technical support services | $2.4M | 48% |
| Other | $1.5M | 30% |
| Application development services | $884.5K | 18% |
| Subscription services | $215.4K | 4% |
