Xero Ltd

XRO: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$14.00	Pxfby	Khrcvcfp

Xero Demonstrates Rapid Operating Leverage Improvements but Lacks Second Leg of Profitable Growth

Roy Van Keulen

May 23, 2024

Business Strategy and Outlook

We expect Xero’s near- and medium-term strategic focus to revolve around rationalizing its areas of investment, especially against a backdrop of normalizing demand for business software.

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