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Side-by-side financial comparison of Solid Power, Inc. (SLDP) and X3 Holdings Co., Ltd. (XTKG). Click either name above to swap in a different company.
X3 Holdings Co., Ltd. is the larger business by last-quarter revenue ($5.0M vs $3.6M, roughly 1.4× Solid Power, Inc.). X3 Holdings Co., Ltd. produced more free cash flow last quarter ($-1.7M vs $-23.0M).
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
SLDP vs XTKG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6M | $5.0M |
| Net Profit | — | — |
| Gross Margin | — | — |
| Operating Margin | -730.1% | — |
| Net Margin | — | — |
| Revenue YoY | -18.6% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.15 | — |
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.
| Q4 25 | $3.6M | — | ||
| Q3 25 | $3.7M | — | ||
| Q2 25 | $6.5M | $5.0M | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $4.7M | — | ||
| Q2 24 | $5.1M | $6.6M | ||
| Q1 24 | $6.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-25.9M | — | ||
| Q2 25 | $-25.3M | — | ||
| Q1 25 | $-15.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-22.4M | — | ||
| Q2 24 | $-22.3M | $-57.6M | ||
| Q1 24 | $-21.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 28.0% | ||
| Q1 24 | — | — |
| Q4 25 | -730.1% | — | ||
| Q3 25 | -654.4% | — | ||
| Q2 25 | -398.9% | — | ||
| Q1 25 | -399.4% | — | ||
| Q4 24 | -561.1% | — | ||
| Q3 24 | -593.2% | — | ||
| Q2 24 | -530.8% | -219.1% | ||
| Q1 24 | -433.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | -693.1% | — | ||
| Q2 25 | -390.7% | — | ||
| Q1 25 | -251.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -482.0% | — | ||
| Q2 24 | -438.9% | -874.1% | ||
| Q1 24 | -356.2% | — |
| Q4 25 | $-0.15 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.14 | — | ||
| Q1 25 | $-0.08 | — | ||
| Q4 24 | $-0.16 | — | ||
| Q3 24 | $-0.13 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.12 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.8M | $2.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $415.7M | $42.6M |
| Total Assets | $455.1M | $71.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.8M | — | ||
| Q3 25 | $251.2M | — | ||
| Q2 25 | $230.9M | $2.6M | ||
| Q1 25 | $240.9M | — | ||
| Q4 24 | $118.2M | — | ||
| Q3 24 | $132.0M | — | ||
| Q2 24 | $140.5M | $1.5M | ||
| Q1 24 | $146.6M | — |
| Q4 25 | $415.7M | — | ||
| Q3 25 | $381.2M | — | ||
| Q2 25 | $370.6M | $42.6M | ||
| Q1 25 | $397.1M | — | ||
| Q4 24 | $410.3M | — | ||
| Q3 24 | $439.4M | — | ||
| Q2 24 | $456.8M | $125.5M | ||
| Q1 24 | $479.4M | — |
| Q4 25 | $455.1M | — | ||
| Q3 25 | $416.1M | — | ||
| Q2 25 | $398.0M | $71.7M | ||
| Q1 25 | $419.4M | — | ||
| Q4 24 | $448.3M | — | ||
| Q3 24 | $470.9M | — | ||
| Q2 24 | $492.6M | $171.3M | ||
| Q1 24 | $516.2M | — |
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 | $-18.4M | $-1.1M |
| Free Cash FlowOCF − Capex | $-23.0M | $-1.7M |
| FCF MarginFCF / Revenue | -633.0% | -34.1% |
| Capex IntensityCapex / Revenue | 126.5% | 12.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-83.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.4M | — | ||
| Q3 25 | $-14.3M | — | ||
| Q2 25 | $-14.4M | $-1.1M | ||
| Q1 25 | $-26.3M | — | ||
| Q4 24 | $-13.9M | — | ||
| Q3 24 | $-9.9M | — | ||
| Q2 24 | $-11.1M | $-7.0M | ||
| Q1 24 | $-29.1M | — |
| Q4 25 | $-23.0M | — | ||
| Q3 25 | $-14.8M | — | ||
| Q2 25 | $-17.1M | $-1.7M | ||
| Q1 25 | $-28.6M | — | ||
| Q4 24 | $-18.6M | — | ||
| Q3 24 | $-12.6M | — | ||
| Q2 24 | $-15.5M | $-7.0M | ||
| Q1 24 | $-33.1M | — |
| Q4 25 | -633.0% | — | ||
| Q3 25 | -397.6% | — | ||
| Q2 25 | -264.2% | -34.1% | ||
| Q1 25 | -476.1% | — | ||
| Q4 24 | -416.5% | — | ||
| Q3 24 | -271.5% | — | ||
| Q2 24 | -305.8% | -106.9% | ||
| Q1 24 | -556.3% | — |
| Q4 25 | 126.5% | — | ||
| Q3 25 | 15.3% | — | ||
| Q2 25 | 41.5% | 12.1% | ||
| Q1 25 | 39.1% | — | ||
| Q4 24 | 105.5% | — | ||
| Q3 24 | 59.7% | — | ||
| Q2 24 | 86.8% | 0.3% | ||
| Q1 24 | 68.1% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SLDP
Segment breakdown not available.
XTKG
| Consulting and technical support services | $2.4M | 48% |
| Other | $1.5M | 30% |
| Application development services | $884.5K | 18% |
| Subscription services | $215.4K | 4% |
