Exp World Holdings (EXPI)
NASDAQ:EXPI
Want to see EXPI full AI Analyst Report?
Top Page
eXp World Holdings
(NASDAQ:EXPI)
Select Model
Select Model
Rating:57Neutral
Price Target:
$7.00
▼(-36.13% Downside)
Action:ReiteratedDate:04/01/26
The score is anchored by solid balance-sheet strength (minimal leverage) and consistently positive free cash flow, but held back by weak and inconsistent profitability and a clear technical downtrend. Supportive 2026 guidance and a meaningful dividend provide a partial offset, though margin compression and legal/cost pressures remain key risks.
Positive Factors
Balance Sheet Strength
Very low leverage and a conservatively positioned balance sheet reduce refinancing and solvency risk across housing cycles. This durable financial flexibility supports continued international expansion, tech investments, and an internal cash buffer for settlements or opportunistic M&A without material funding stress.
Negative Factors
Profitability & Margin Compression
Eroding gross margins and recurring net losses constrain the company's ability to convert scale into sustainable profitability. Margin pressure from capped-transaction mix and elevated investments/legal costs limits ROE and reduces cushion against housing downturns, requiring sustained margin recovery to justify growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low leverage and a conservatively positioned balance sheet reduce refinancing and solvency risk across housing cycles. This durable financial flexibility supports continued international expansion, tech investments, and an internal cash buffer for settlements or opportunistic M&A without material funding stress.
Read all positive factors
eXp World Holdings (EXPI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$995.43M
Dividend Yield2.09%
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth5.08%
EPS Growth41.21%
CountryUS
Employees2,001
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.08
Shares Outstanding159,268,420
10 Day Avg. Volume766,575
30 Day Avg. Volume1,064,584
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)5.95
Price to Sales (P/S)0.30
P/FCF Ratio13.24
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue0.20
Enterprise Value/Gross Profit2.85
Enterprise Value/Ebitda-75.03
Forecast
1Y Price Target
$9.50Price Target Upside-13.32% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.16
Revenue Forecast (FY)$5.00B
eXp World Holdings Business Overview & Revenue Model
Company Description
eXp World Holdings, Inc., together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company facilitates buyers to search real-time property listings and sellers to list their...
How the Company Makes Money
EXPI primarily makes money through its real estate brokerage operations, especially eXp Realty. The company earns revenue mainly from (1) commissions and fees generated from real estate transactions closed by agents on its platform, and (2) other ...
eXp World Holdings Key Performance Indicators (KPIs)
eXp World Holdings Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call emphasized solid top-line growth (4% FY, 9% Q4), strong international expansion (67% YoY), improved agent productivity and materially better attrition metrics, plus a healthy cash balance and constructive 2026 guidance aimed at margin expansion via AI and automation. Offsetting these positives are margin compression driven by capped-agent mix, higher investments and legal costs that pressured operating results (operating loss and lower adjusted EBITDA), a loss in the SUCCESS segment during replatforming, and a cautious capital allocation posture due to the NAR settlement. Overall, operational momentum, clear strategic investments in AI/platforms, and forward guidance targeting improved EBITDA suggest the highlights outweigh the lowlights.Positive Updates
Strong International Revenue Growth and Expansion
International revenue increased 67% year-over-year to $147 million; company expanded into 7 new countries in 2025 and Q4 international revenue rose nearly 51%.
Negative Updates
Gross Margin Compression
Despite 9% Q4 revenue growth, Q4 gross profit was flat year-over-year. Management attributes margin compression to higher mix of capped transactions and attracting more productive agents (more agents reaching cap).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong International Revenue Growth and Expansion
International revenue increased 67% year-over-year to $147 million; company expanded into 7 new countries in 2025 and Q4 international revenue rose nearly 51%.
Read all positive updates
Company Guidance
Management provided initial 2026 guidance calling for Q1 revenue of $960–$980M, Q1 operating expenses of $82–$86M and Q1 adjusted EBITDA of $2–$5M; for full-year 2026 they expect revenue of $4.85–$5.15B, operating expenses of $325–$345M and adjusted EBITDA of $50–$75M. They said this outlook reflects translating 2025 technology and AI investments into margin expansion, while remaining financially flexible — noting 2025 results of $4.8B revenue, $33.2M adjusted EBITDA, an operating loss of $21.5M, gross profit of $333.6M and $124.2M cash on hand, maintaining an internal $100M cash threshold and reserving the right to invest where strategic (with a second NAR settlement tranche due summer 2026).eXp World Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.77B | 4.57B | 4.27B | 4.59B | 3.77B |
| Gross Profit | 333.58M | 342.39M | 319.92M | 361.17M | 296.03M |
| EBITDA | -10.67M | 30.23M | 11.41M | 26.20M | 40.40M |
| Net Income | -22.71M | -21.27M | -8.97M | 15.44M | 81.22M |
Balance Sheet | |||||
| Total Assets | 442.48M | 390.72M | 385.67M | 381.68M | 413.83M |
| Cash, Cash Equivalents and Short-Term Investments | 124.25M | 113.61M | 125.87M | 121.59M | 108.24M |
| Total Debt | 0.00 | 0.00 | 10.00K | 869.00K | 1.08M |
| Total Liabilities | 199.70M | 185.85M | 141.66M | 132.69M | 190.29M |
| Stockholders Equity | 242.78M | 204.87M | 242.84M | 247.82M | 222.17M |
Cash Flow | |||||
| Free Cash Flow | 109.04M | 185.03M | 201.17M | 198.48M | 233.47M |
| Operating Cash Flow | 118.61M | 191.51M | 209.13M | 210.53M | 246.89M |
| Investing Cash Flow | -23.47M | -19.47M | -13.50M | -22.46M | -18.92M |
| Financing Cash Flow | -86.54M | -170.38M | -184.09M | -204.51M | -179.92M |
eXp World Holdings Technical Analysis
Neutral
10.96
Price Trends
6.63
Positive
8.21
Negative
9.34
Negative
Market Momentum
-0.08
Negative
61.98
Neutral
92.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EXPI, the sentiment is Neutral. The current price of 10.96 is above the 20-day moving average (MA) of 6.05, above the 50-day MA of 6.63, and above the 200-day MA of 9.34, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 61.98 is Neutral, neither overbought nor oversold. The STOCH value of 92.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for EXPI.
eXp World Holdings Risk Analysis
eXp World Holdings disclosed 35 risk factors in its most recent earnings report. eXp World Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
eXp World Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | $554.17M | ― | -17.31% | ― | 65.60% | 69.72% | |
59 Neutral | $192.94M | 18.48 | 1.84% | ― | -6.06% | ― | |
57 Neutral | $995.43M | -63.56 | -10.00% | 2.09% | 5.08% | 41.21% | |
56 Neutral | $2.93B | 24.52 | 8.82% | 0.68% | 22.22% | 94.52% | |
50 Neutral | $157.03M | 13.94 | 10.23% | ― | 6.62% | 30.94% |
* Real Estate Sector Average
EXPI
eXp World Holdings
6.67
-1.71
-20.42%
RMAX
Re/Max Holdings
6.41
-0.63
-8.95%
NMRK
Newmark Group
16.53
6.52
65.18%
REAX
Real Brokerage
2.74
-1.70
-38.29%
DOUG
Douglas Elliman Inc.
1.84
0.31
20.26%
eXp World Holdings Corporate Events
Business Operations and StrategyLegal Proceedings
eXp World Holdings Gains Final Approval in Class Settlement
Positive
Mar 31, 2026
eXp World Holdings, Inc. and several of its real estate brokerage subsidiaries previously entered into a definitive nationwide settlement agreement on December 9, 2024 to resolve a pending class action lawsuit brought by 1925 Hooper LLC and others...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
eXp World Holdings Posts 2025 Results, Declares Q1 Dividend
Positive
Feb 24, 2026
eXp World Holdings reported fourth-quarter and full-year 2025 results on February 24, 2026, showing 4% revenue growth to $4.8 billion for 2025 and quarterly revenue of $1.2 billion. The company posted a full-year net loss of $22.7 million, or $0.1...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.