Li Auto Inc. (LI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Li Auto Inc. (LI) stock price & volume — 10-year historical chart
Li Auto Inc. (LI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Li Auto Inc. (LI) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 12, 2026 | $0.04vs $0.03+38.1% | $4.1Bvs $4.2B-1.1% |
| Q4 2025 | Nov 26, 2025 | $0.09vs $0.04-325.0% | $3.8Bvs $4.1B-6.7% |
| Q3 2025 | Aug 28, 2025 | $0.14vs $0.10+36.7% | $4.2Bvs $3.7B+14.5% |
| Q2 2025 | May 29, 2025 | $0.08vs $0.13-38.7% | $3.6Bvs $4.8B-25.1% |
Li Auto Inc. (LI) competitors in Electric-only passenger car makers — business model, growth, and fundamentals comparison
Li Auto Inc. (LI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Li Auto Inc. (LI) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 283.6M | 8.94B | 26.66B | 46.08B | 123.83B | 144.52B | 125.72B |
| Revenue Growth % | - | - | 3052.47% | 198.2% | 72.85% | 168.73% | 16.71% | -11.05% |
| Cost of Goods Sold | 89.7M | 380.73M | 7.55B | 21.11B | 37.28B | 96.34B | 114.85B | 101.34B |
| COGS % of Revenue | - | 134.25% | 84.49% | 79.18% | 80.89% | 77.8% | 79.47% | - |
| Gross Profit | -89.7M▲ 0% | -97.13M▼ 8.3% | 1.39B▲ 1527.4% | 5.55B▲ 300.4% | 8.81B▲ 58.6% | 27.49B▲ 212.2% | 29.67B▲ 7.9% | 24.38B▲ 0% |
| Gross Margin % | - | -34.25% | 15.51% | 20.82% | 19.11% | 22.2% | 20.53% | 19.39% |
| Gross Profit Growth % | - | -8.29% | 1527.35% | 300.45% | 58.61% | 212.22% | 7.91% | - |
| Operating Expenses | 1.09B | 1.74B | 1.99B | 6.56B | 12.52B | 20.35B | 23.31B | 21.49B |
| OpEx % of Revenue | - | 612.99% | 22.26% | 24.59% | 27.18% | 16.43% | 16.13% | - |
| Selling, General & Admin | 280.87M | 612.01M | 993.17M | 3.37B | 5.68B | 9.77B | 12.23B | 10.92B |
| SG&A % of Revenue | - | 215.8% | 11.11% | 12.62% | 12.33% | 7.89% | 8.47% | - |
| Research & Development | 804.46M | 1.13B | 997.3M | 3.19B | 6.84B | 10.58B | 11.08B | 10.57B |
| R&D % of Revenue | - | 397.2% | 11.15% | 11.97% | 14.85% | 8.55% | 7.66% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -1.18B▲ 0% | -1.84B▼ 56.2% | -604.08M▲ 67.1% | -1B▼ 66.2% | -3.72B▼ 270.4% | 7.14B▲ 292.0% | 6.36B▼ 11.0% | 2.89B▲ 0% |
| Operating Margin % | - | -647.24% | -6.76% | -3.77% | -8.07% | 5.77% | 4.4% | 2.3% |
| Operating Income Growth % | - | -56.22% | 67.09% | -66.23% | -270.37% | 292.03% | -10.97% | - |
| EBITDA | -1.09B | -1.68B | -247.02M | -421.4M | -2.48B | 8.92B | 9.42B | 5.42B |
| EBITDA Margin % | - | -591.78% | -2.76% | -1.58% | -5.39% | 7.21% | 6.52% | 4.31% |
| EBITDA Growth % | - | -54.63% | 85.28% | -70.6% | -489.44% | 459.28% | 5.53% | -43.02% |
| D&A (Non-Cash Add-back) | 89.7M | 157.3M | 357.06M | 582.75M | 1.24B | 1.78B | 3.06B | 0 |
| EBIT | -1.11B | -2.17B | -112.92M | -88.41M | -2.09B | 10.54B | 9.51B | 5.42B |
| Net Interest Income | 8.57M | -4.03M | 177.74M | 668.42M | 977.83M | 2B | 1.63B | 1.67B |
| Interest Income | 74.51M | 79.42M | 241M | 730.85M | 1.09B | 2.08B | 1.82B | 1.86B |
| Interest Expense | 65.94M | 83.44M | 63.26M | 62.43M | 108.21M | 86.24M | 187.83M | 189.85M |
| Other Income/Expense | -35.72M | -575.77M | 425.51M | 853.32M | 1.52B | 3.31B | 2.96B | 2.34B |
| Pretax Income | -1.21B▲ 0% | -2.41B▼ 99.2% | -178.57M▲ 92.6% | -150.83M▲ 15.5% | -2.2B▼ 1356.8% | 10.45B▲ 575.6% | 9.32B▼ 10.8% | 5.23B▲ 0% |
| Pretax Margin % | - | -850.27% | -2% | -0.57% | -4.77% | 8.44% | 6.45% | 4.16% |
| Income Tax | 0 | 0 | -21.6M | 166.46M | -129.24M | -1.36B | 1.27B | 708.74M |
| Effective Tax Rate % | 0% | 0% | 12.1% | -110.36% | 5.88% | -12.99% | 13.64% | 13.56% |
| Net Income | -1.59B▲ 0% | -2.43B▼ 52.8% | -159.79M▲ 93.4% | -317.29M▼ 98.6% | -2.05B▼ 545.3% | 11.7B▲ 671.5% | 8.04B▼ 31.3% | 4.51B▲ 0% |
| Net Margin % | - | -857.53% | -1.79% | -1.19% | -4.44% | 9.45% | 5.56% | 3.59% |
| Net Income Growth % | - | -52.75% | 93.43% | -98.56% | -545.32% | 671.54% | -31.33% | -55.24% |
| Net Income (Continuing) | -1.21B | -2.41B | -156.97M | -317.29M | -2.07B | 11.81B | 8.05B | 4.52B |
| Discontinued Operations | -381.34M | -20.61M | -2.83M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 327.61M | 432.6M | 445.5M | 506.76M |
| EPS (Diluted) | -2.12▲ 0% | -3.62▼ 70.8% | -0.85▲ 76.5% | -0.34▲ 60.0% | -2.10▼ 517.6% | 11.06▲ 626.7% | 7.54▼ 31.8% | 4.47▲ 0% |
| EPS Growth % | - | -70.75% | 76.52% | 60% | -517.65% | 626.67% | -31.83% | -55.71% |
| EPS (Basic) | -2.12 | -3.62 | -0.85 | -0.34 | -2.10 | 11.90 | 8.06 | - |
| Diluted Shares Outstanding | 904.96M | 904.96M | 904.96M | 926.66M | 970.62M | 1.06B | 1.06B | 1.01B |
| Basic Shares Outstanding | 904.96M | 904.96M | 904.96M | 926.66M | 970.62M | 983.93M | 996.6M | 1.01B |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Li Auto Inc. (LI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 2.29B | 5.07B | 31.39B | 52.38B | 66.99B | 114.53B | 126.31B | 112.75B |
| Cash & Short-Term Investments | 930.11M | 3.57B | 28.64B | 47.52B | 56.51B | 103.26B | 112.81B | 98.68B |
| Cash Only | 70.19M | 1.3B | 8.94B | 27.85B | 38.48B | 91.33B | 65.9B | 51.11B |
| Short-Term Investments | 859.91M | 2.27B | 19.7B | 19.67B | 18.03B | 11.93B | 46.9B | 47.57B |
| Accounts Receivable | 0 | 8.3M | 115.55M | 120.54M | 48.38M | 143.52M | 135.11M | 100.87M |
| Days Sales Outstanding | - | 10.69 | 4.72 | 1.65 | 0.38 | 0.42 | 0.34 | 0.28 |
| Inventory | 155K | 518.09M | 1.05B | 1.62B | 6.8B | 6.87B | 8.19B | 8.23B |
| Days Inventory Outstanding | 0.63 | 496.68 | 50.64 | 27.98 | 66.63 | 26.04 | 26.01 | 34.43 |
| Other Current Assets | 1.36B | 902.61M | 1.56B | 3.12B | 1.94B | 4.25B | 5.18B | 5.74B |
| Total Non-Current Assets | 3.49B | 4.45B | 4.98B | 9.47B | 19.55B | 28.94B | 36.04B | 40.37B |
| Property, Plant & Equipment | 2.12B | 3.13B | 3.76B | 6.56B | 14.73B | 20.43B | 29.46B | 33.46B |
| Fixed Asset Turnover | - | 0.09x | 2.38x | 4.06x | 3.13x | 6.06x | 4.90x | 4.09x |
| Goodwill | 0 | 0 | -181.5M | -289.81M | 5.48M | 5.48M | 5.48M | 5.48M |
| Intangible Assets | 850.5M | 857.25M | 864.79M | 1.04B | 832.62M | 864.18M | 2.44B | 937.77M |
| Long-Term Investments | 177.14M | 126.18M | 162.85M | 156.31M | 1.48B | 1.6B | 922.9M | 3.4B |
| Other Non-Current Assets | 43.32M | 33.84M | 321.18M | 1.98B | 2.42B | 4.79B | 667.78M | 6.74B |
| Total Assets | 5.78B▲ 0% | 9.51B▲ 64.6% | 36.37B▲ 282.3% | 61.85B▲ 70.0% | 86.54B▲ 39.9% | 143.47B▲ 65.8% | 162.35B▲ 13.2% | 153.12B▲ 0% |
| Asset Turnover | - | 0.03x | 0.25x | 0.43x | 0.53x | 0.86x | 0.89x | 0.79x |
| Asset Growth % | - | 64.57% | 282.34% | 70.04% | 39.92% | 65.79% | 13.16% | 31.36% |
| Total Current Liabilities | 1.75B | 4.68B | 4.31B | 12.11B | 27.37B | 72.74B | 69.22B | 62.54B |
| Accounts Payable | 342.25M | 633.91M | 2.99B | 7.09B | 15.41B | 34.84B | 40.04B | 37.77B |
| Days Payables Outstanding | 1.39K | 607.72 | 144.55 | 122.59 | 150.89 | 131.99 | 127.25 | 161.83 |
| Short-Term Debt | 20M | 931.48M | 0 | 37.04M | 390.75M | 6.98B | 281.1M | 6.32B |
| Deferred Revenue (Current) | 1.58B | 87.44M | 271.51M | 315.35M | 579.73M | 0 | 1.29B | 5.71B |
| Other Current Liabilities | -301.06M | 2.26B | -193.03M | -570.88M | -1.55B | 7.36B | 114.79M | 0 |
| Current Ratio | 1.31x | 1.08x | 7.28x | 4.33x | 2.45x | 1.57x | 1.82x | 1.82x |
| Quick Ratio | 1.31x | 0.97x | 7.04x | 4.19x | 2.20x | 1.48x | 1.71x | 1.71x |
| Cash Conversion Cycle | - | -100.35 | -89.19 | -92.96 | -83.88 | -105.53 | -100.9 | -127.12 |
| Total Non-Current Liabilities | 6.43B | 252.57M | 2.26B | 8.68B | 13.98B | 10.15B | 21.81B | 17.38B |
| Long-Term Debt | 644.6M | 0 | 511.64M | 5.96B | 9.23B | 1.75B | 8.15B | 3.14B |
| Capital Lease Obligations | 583.7M | 241.11M | 1.39B | 1.37B | 1.95B | 3.68B | 6.38B | 26.56B |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 77.81M | 0 | 865M | 3.16B |
| Other Non-Current Liabilities | 5.2B | 11.46M | 356.68M | 1.35B | 2.14B | 4.72B | 5.25B | 23.56B |
| Total Liabilities | 8.18B | 4.93B | 6.57B | 20.78B | 41.35B | 82.89B | 91.03B | 79.92B |
| Total Debt | 1.36B | 1.71B | 2.11B | 7.84B | 12.26B | 13.55B | 16.34B | 17.89B |
| Net Debt | 1.29B | 414.68M | -6.82B | -20.01B | -26.21B | -77.78B | -49.56B | -33.22B |
| Debt / Equity | - | 0.37x | 0.07x | 0.19x | 0.27x | 0.22x | 0.23x | 0.23x |
| Debt / EBITDA | - | - | - | - | - | 1.52x | 1.74x | 3.30x |
| Net Debt / EBITDA | - | - | - | - | - | -8.72x | -5.26x | -5.26x |
| Interest Coverage | -17.82x | -22.00x | -9.55x | -16.09x | -34.37x | 82.81x | 33.85x | 28.54x |
| Total Equity | -2.4B▲ 0% | 4.58B▲ 291.2% | 29.8B▲ 550.6% | 41.06B▲ 37.8% | 45.19B▲ 10.0% | 60.58B▲ 34.1% | 71.32B▲ 17.7% | 73.2B▲ 0% |
| Equity Growth % | - | 291.22% | 550.57% | 37.78% | 10.04% | 34.06% | 17.74% | 60.27% |
| Book Value per Share | -2.65 | 5.06 | 32.93 | 44.31 | 46.55 | 57.27 | 66.99 | 72.51 |
| Total Shareholders' Equity | -2.4B | 4.58B | 29.8B | 41.06B | 44.86B | 60.14B | 70.87B | 72.69B |
| Common Stock | 165K | 165K | 1.25M | 1.41M | 1.42M | 1.45M | 1.45M | 72.69B |
| Retained Earnings | -2.41B | -5.69B | -6.48B | -6.81B | -8.82B | 2.44B | 10.92B | 0 |
| Treasury Stock | 0 | 0 | 0 | -89K | -84K | -90K | -74K | 0 |
| Accumulated OCI | 12.69M | 15.54M | -1.01B | -1.52B | -194.11M | 219.71M | -171.75M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 327.61M | 432.6M | 445.5M | 506.76M |
Li Auto Inc. (LI) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -1.35B | -1.79B | 3.14B | 8.34B | 7.38B | 50.69B | 15.93B | 15.93B |
| Operating CF Margin % | - | -632.48% | 35.12% | 31.28% | 16.02% | 40.94% | 11.02% | - |
| Operating CF Growth % | - | -33.18% | 275.05% | 165.63% | -11.51% | 586.88% | -68.57% | -774.87% |
| Net Income | -1.17B | -2.42B | -166.03M | -321.45M | -2.03B | 11.7B | 8.03B | 4.51B |
| Depreciation & Amortization | 60.5M | 116.39M | 321M | 590.4M | 1.21B | 1.81B | 3.06B | 1.72B |
| Stock-Based Compensation | 0 | 0 | 142.79M | 1.1B | 2.05B | 2.38B | 2.63B | 1.52B |
| Deferred Taxes | 0 | 0 | -22.85M | 168.64M | -128.34M | -1.8M | 0 | 0 |
| Other Non-Cash Items | 68.44M | 661.33M | -202.95M | 185.52M | 1.24B | 31.23B | 142.01M | -9.24B |
| Working Capital Changes | -310.44M | -153.56M | 3.07B | 6.62B | 5.04B | 3.58B | 2.07B | -2.09B |
| Change in Receivables | 72.21M | -8.3M | -107.25M | -5.46M | 72.21M | -95.1M | 8.2M | 72M |
| Change in Inventory | 3.13M | -510.55M | -516.87M | -611.56M | -5.92B | -1.25B | -3.1B | -4.73B |
| Change in Payables | -62.5M | 602.28M | 2.53B | 6.21B | 10.59B | 31.85M | 2.21B | 0 |
| Cash from Investing | -191.51M | -2.57B | -18.74B | -4.26B | -4.36B | -12.07M | -41.14B | -22.8B |
| Capital Expenditures | -970.73M | -952.9M | -675.19M | -3.44B | -5.13B | -6.51B | -7.73B | -4.26B |
| CapEx % of Revenue | - | 336% | 7.55% | 12.92% | 11.13% | 5.25% | 5.35% | - |
| Acquisitions | 25M | -560M | -35.45M | -630.7M | 2.09M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -573.55M | 473.08M | 54.24M | 38K | 4.53M | 6.49B | 970.22M | -18.54B |
| Cash from Financing | 1.11B | 5.66B | 24.71B | 16.71B | 5.64B | 185.38M | -415.65M | -145.63M |
| Debt Issued (Net) | 150M | 401.36M | -144.7M | 5.7B | 3.08B | -1B | -430.31M | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -15.14M | -3.79M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 269.86M | 97.41M | 0 | 1.14M | 96.73M | 1.19B | 14.66M | -145.63M |
| Net Change in Cash | -426.36M▲ 0% | 1.34B▲ 414.5% | 8.74B▲ 551.5% | 20.32B▲ 132.6% | 9.93B▼ 51.2% | 50.91B▲ 413.0% | -25.42B▼ 149.9% | -26.27B▲ 0% |
| Free Cash Flow | -2.32B▲ 0% | -2.75B▼ 18.5% | 2.46B▲ 189.7% | 4.9B▲ 98.6% | 2.25B▼ 54.0% | 44.19B▲ 1861.8% | 8.2B▼ 81.4% | -7.71B▲ 0% |
| FCF Margin % | - | -968.48% | 27.57% | 18.36% | 4.89% | 35.68% | 5.68% | -6.13% |
| FCF Growth % | - | -18.51% | 189.73% | 98.64% | -53.99% | 1861.77% | -81.44% | -145.93% |
| FCF per Share | -2.56 | -3.04 | 2.72 | 5.28 | 2.32 | 41.78 | 7.71 | 7.71 |
| FCF Conversion (FCF/Net Income) | 0.85x | 0.74x | -19.65x | -26.29x | -3.60x | 4.33x | 1.98x | -1.71x |
| Interest Paid | 0 | 0 | 0 | 0 | 87.94M | 41.47M | 96.67M | 40.16M |
| Taxes Paid | 0 | 0 | 0 | 0 | 1.33M | 58.65M | 645.53M | 0 |
Li Auto Inc. (LI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -222.57% | -0.93% | -0.9% | -4.75% | 22.13% | 12.19% | 6.21% |
| Return on Invested Capital (ROIC) | -70.85% | -3.24% | -3.42% | -13.94% | 606.69% | 209.29% | 209.29% |
| Gross Margin | -34.25% | 15.51% | 20.82% | 19.11% | 22.2% | 20.53% | 19.39% |
| Net Margin | -857.53% | -1.79% | -1.19% | -4.44% | 9.45% | 5.56% | 3.59% |
| Debt / Equity | 0.37x | 0.07x | 0.19x | 0.27x | 0.22x | 0.23x | 0.23x |
| Interest Coverage | -22.00x | -9.55x | -16.09x | -34.37x | 82.81x | 33.85x | 28.54x |
| FCF Conversion | 0.74x | -19.65x | -26.29x | -3.60x | 4.33x | 1.98x | -1.71x |
| Revenue Growth | - | 3052.47% | 198.2% | 72.85% | 168.73% | 16.71% | -11.05% |
Li Auto Inc. (LI) stock FAQ — growth, dividends, profitability & financials explained
Li Auto Inc. (LI) reported $125.72B in revenue for fiscal year 2024.
Li Auto Inc. (LI) grew revenue by 16.7% over the past year. This is strong growth.
Yes, Li Auto Inc. (LI) is profitable, generating $4.51B in net income for fiscal year 2024 (5.6% net margin).
Li Auto Inc. (LI) has a return on equity (ROE) of 12.2%. This is reasonable for most industries.
Li Auto Inc. (LI) had negative free cash flow of $7.71B in fiscal year 2024, likely due to heavy capital investments.
Li Auto Inc. (LI) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates