Li Auto faces a significant operational downturn, with revenue contracting -15.7% YoY in 2026Q2 and gross margins compressing 1,250 basis points from their 2023Q4 peak to 11.0%, indicating severe pricing pressure and negative operating leverage.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue has contracted sharply for three consecutive quarters, culminating in a -15.7% YoY decline in 2026Q2, while gross margins have collapsed to 11.0% from a peak of 23.5%, indicating significant pricing pressure and unfavorable product mix shifts.
Li Auto reported cumulative deliveries of about 1.70 billion units by May 31, showcasing strong demand for its vehicles.
Li Auto is updating its product lineup, including the launch of its first model, the Li One, and potential new models like the Li i6.
Investors holding through the BEV transition could see significant upside if gross margins stabilize above 14%, with bull targets reaching $27-$30.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 26, 2026 | -$0.25-2400.0% vs -$0.01 | $3.8B-2.3% vs $3.9B |
Q2 2026 May 28, 2026 | -$0.33-24.2% vs -$0.27 | $3.3B+5.0% vs $3.2B |
Q2 2026 Mar 12, 2026 | $0.04+38.1% vs $0.03 | $4.1B-1.1% vs $4.2B |
Q4 2025 Nov 26, 2025 | -$0.09-325.0% vs $0.04 | $3.8B+3.8% vs $3.7B |
Share of Rivian Automotive Inc (NASDAQ:RIVN) are 4.6% higher to trade at $12.72 this morning, after UBS upgraded the EV name to "buy" from "neutral," maintaining its $17 price and citing the company's stellar third-quarter earnings report.
BEIJING, China, Nov. 01, 2026 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced that it delivered 29,025 vehicles in October 2026. As of October 31, 2026, Li Auto's cumulative deliveries reached 1,862,676.
Li Auto Inc. Sponsored ADR (LI) closed at $11.39 in the latest trading session, marking a +1.15% move from the prior day.
BEIJING, China, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today officially launched the 2026 Li i6, a pioneering five-seat SUV. The vehicle is priced at RMB249,800 for its standard configuration, with deliveries to commence within a week. For more details on the 2026 Li i6, please visit Li Auto's official website.
Benchmark LI against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Li Auto Inc. (LI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $12.53 | $12.65B | -18.32 | -22.29% | -4.41% | -6.5% | — | |
| $3.39 | $7.99B | -12.37 | 33.1% | -4% | -34.09% | — | |
| $10.24 | $9.73B | -10.51 | 87.73% | -4.15% | -10.75% | — | |
| $358.22 | $1.41T | 394.17 | -2.93% | 3.11% | 3.73% | — | |
| $13.61 | $16.52B | -6.62 | 8.39% | -45.88% | -59.79% | — | |
| $3.29 | $1.05B | -0.31 | 67.58% | -263.72% | -254.84% | — |
Li Auto Inc. (LI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Li Auto Inc. (LI) stock FAQ — growth, dividends, profitability & financials explained
Li Auto Inc. (LI) reported $104.22B in revenue over the trailing twelve months. Revenue was $112.31B in fiscal year 2025.
Li Auto Inc. (LI) revenue fell by 26.3% over the trailing twelve months, compared with the twelve months before.
No. Li Auto Inc. (LI) reported a net loss of $4.59B over the trailing twelve months.
Li Auto Inc. (LI) had a return on equity (ROE) of -6.5% over the trailing twelve months. A negative ROE means the company lost money over the period.
Li Auto Inc. (LI) had negative free cash flow of $14.09B over the trailing twelve months.
