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LI logoLi Auto Inc.(LI)Earnings, Financials & Key Ratios

LI•NASDAQ
$17.72
$35.58B mkt cap·16.0× P/E·Price updated May 6, 2026
SectorConsumer CyclicalIndustryAuto ManufacturersSub-IndustryElectric-only passenger car makers
AboutLi Auto Inc. operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line comprises MPVs and sport utility vehicles. It offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment. The company offers its products through online and offline channels. The company was formerly known as Leading Ideal Inc. and changed its name to Li Auto Inc. in July 2020. Li Auto Inc. was founded in 2015 and is headquartered in Beijing, the People's Republic of China.Show more
  • Revenue$144.52B+16.7%
  • EBITDA$9.42B+5.5%
  • Net Income$8.04B-31.3%
  • EPS (Diluted)7.54-31.8%
  • Gross Margin20.53%-7.5%
  • EBITDA Margin6.52%-9.6%
  • Operating Margin4.4%-23.7%
  • Net Margin5.56%-41.2%
  • ROE12.19%-44.9%
  • ROIC209.29%-65.5%
  • Debt/Equity0.23+2.5%
  • Interest Coverage33.85-59.1%
Analysis→Technical→

LI Key Insights

Li Auto Inc. (LI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 247.9%

✗Weaknesses

  • ✗Thin 5Y average net margin of 1.5%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

LI Price & Volume

Li Auto Inc. (LI) stock price & volume — 10-year historical chart

Loading chart...

LI Growth Metrics

Li Auto Inc. (LI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years247.89%
3 Years75.67%
TTM-11.05%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-55.24%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-55.71%

Return on Capital

10 Years-9.19%
5 Years1.24%
3 Years3.98%
Last Year7.76%

LI Recent Earnings

Li Auto Inc. (LI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Mar 12, 2026
EPS
$0.04
Est $0.03
+38.1%
Revenue
$4.1B
Est $4.2B
-1.1%
Q4 2025
Nov 26, 2025
EPS
$0.09
Est $0.04
-325.0%
Revenue
$3.8B
Est $4.1B
-6.7%
Q3 2025
Aug 28, 2025
EPS
$0.14
Est $0.10
+36.7%
Revenue
$4.2B
Est $3.7B
+14.5%
Q2 2025
May 29, 2025
EPS
$0.08
Est $0.13
-38.7%
Revenue
$3.6B
Est $4.8B
-25.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 12, 2026
$0.04vs $0.03+38.1%
$4.1Bvs $4.2B-1.1%
Q4 2025Nov 26, 2025
$0.09vs $0.04-325.0%
$3.8Bvs $4.1B-6.7%
Q3 2025Aug 28, 2025
$0.14vs $0.10+36.7%
$4.2Bvs $3.7B+14.5%
Q2 2025May 29, 2025
$0.08vs $0.13-38.7%
$3.6Bvs $4.8B-25.1%
Based on last 12 quarters of dataView full earnings history →

LI Peer Comparison

Li Auto Inc. (LI) competitors in Electric-only passenger car makers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
NIO logoNIONIO Inc.Direct Competitor12.36B5.91-3.6518.18%-35.01%-270.66%2.50
XPEV logoXPEVXPeng Inc.Direct Competitor5.55B15.93-17.7433.22%-7.1%-13.77%0.51
ZK logoZKZEEKR Intelligent Technology Holding LimitedDirect Competitor6.85B26.73-0.9846.91%-3.68%
TSLA logoTSLATesla, Inc.Product Competitor1.5T398.53369.01-2.93%3.96%4.75%0.10
RIVN logoRIVNRivian Automotive, Inc.Product Competitor17.92B14.49-4.728.39%-63.62%-69.6%1.45
LCID logoLCIDLucid Group, Inc.Product Competitor2.04B6.19-0.5167.58%-300.36%-293.86%1.20
PSNY logoPSNYPolestar Automotive Holding UK PLCProduct Competitor41B19.43-20.03-14.48%-89.04%
QS logoQSQuantumScape CorporationSupply Chain4.87B7.95-10.46-37.3%0.06

Compare LI vs Peers

Li Auto Inc. (LI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NIO

Most directly comparable listed peer for LI.

Scale Benchmark

vs TSLA

Larger-name benchmark to compare LI against a more recognizable public peer.

Peer Set

Compare Top 5

vs NIO, XPEV, ZK, TSLA

LI Income Statement

Li Auto Inc. (LI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue0283.6M8.94B26.66B46.08B123.83B144.52B125.72B
Revenue Growth %--3052.47%198.2%72.85%168.73%16.71%-11.05%
Cost of Goods Sold89.7M380.73M7.55B21.11B37.28B96.34B114.85B101.34B
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 Expenses1.09B1.74B1.99B6.56B12.52B20.35B23.31B21.49B
OpEx % of Revenue-612.99%22.26%24.59%27.18%16.43%16.13%-
Selling, General & Admin280.87M612.01M993.17M3.37B5.68B9.77B12.23B10.92B
SG&A % of Revenue-215.8%11.11%12.62%12.33%7.89%8.47%-
Research & Development804.46M1.13B997.3M3.19B6.84B10.58B11.08B10.57B
R&D % of Revenue-397.2%11.15%11.97%14.85%8.55%7.66%-
Other Operating Expenses00000000
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-2.48B8.92B9.42B5.42B
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)89.7M157.3M357.06M582.75M1.24B1.78B3.06B0
EBIT-1.11B-2.17B-112.92M-88.41M-2.09B10.54B9.51B5.42B
Net Interest Income8.57M-4.03M177.74M668.42M977.83M2B1.63B1.67B
Interest Income74.51M79.42M241M730.85M1.09B2.08B1.82B1.86B
Interest Expense65.94M83.44M63.26M62.43M108.21M86.24M187.83M189.85M
Other Income/Expense-35.72M-575.77M425.51M853.32M1.52B3.31B2.96B2.34B
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 Tax00-21.6M166.46M-129.24M-1.36B1.27B708.74M
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-2.07B11.81B8.05B4.52B
Discontinued Operations-381.34M-20.61M-2.83M00000
Minority Interest0000327.61M432.6M445.5M506.76M
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)-2.12-3.62-0.85-0.34-2.1011.908.06-
Diluted Shares Outstanding904.96M904.96M904.96M926.66M970.62M1.06B1.06B1.01B
Basic Shares Outstanding904.96M904.96M904.96M926.66M970.62M983.93M996.6M1.01B
Dividend Payout Ratio--------

LI Balance Sheet

Li Auto Inc. (LI) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets2.29B5.07B31.39B52.38B66.99B114.53B126.31B112.75B
Cash & Short-Term Investments930.11M3.57B28.64B47.52B56.51B103.26B112.81B98.68B
Cash Only70.19M1.3B8.94B27.85B38.48B91.33B65.9B51.11B
Short-Term Investments859.91M2.27B19.7B19.67B18.03B11.93B46.9B47.57B
Accounts Receivable08.3M115.55M120.54M48.38M143.52M135.11M100.87M
Days Sales Outstanding-10.694.721.650.380.420.340.28
Inventory155K518.09M1.05B1.62B6.8B6.87B8.19B8.23B
Days Inventory Outstanding0.63496.6850.6427.9866.6326.0426.0134.43
Other Current Assets1.36B902.61M1.56B3.12B1.94B4.25B5.18B5.74B
Total Non-Current Assets3.49B4.45B4.98B9.47B19.55B28.94B36.04B40.37B
Property, Plant & Equipment2.12B3.13B3.76B6.56B14.73B20.43B29.46B33.46B
Fixed Asset Turnover-0.09x2.38x4.06x3.13x6.06x4.90x4.09x
Goodwill00-181.5M-289.81M5.48M5.48M5.48M5.48M
Intangible Assets850.5M857.25M864.79M1.04B832.62M864.18M2.44B937.77M
Long-Term Investments177.14M126.18M162.85M156.31M1.48B1.6B922.9M3.4B
Other Non-Current Assets43.32M33.84M321.18M1.98B2.42B4.79B667.78M6.74B
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-0.03x0.25x0.43x0.53x0.86x0.89x0.79x
Asset Growth %-64.57%282.34%70.04%39.92%65.79%13.16%31.36%
Total Current Liabilities1.75B4.68B4.31B12.11B27.37B72.74B69.22B62.54B
Accounts Payable342.25M633.91M2.99B7.09B15.41B34.84B40.04B37.77B
Days Payables Outstanding1.39K607.72144.55122.59150.89131.99127.25161.83
Short-Term Debt20M931.48M037.04M390.75M6.98B281.1M6.32B
Deferred Revenue (Current)1.58B87.44M271.51M315.35M579.73M01.29B5.71B
Other Current Liabilities-301.06M2.26B-193.03M-570.88M-1.55B7.36B114.79M0
Current Ratio1.31x1.08x7.28x4.33x2.45x1.57x1.82x1.82x
Quick Ratio1.31x0.97x7.04x4.19x2.20x1.48x1.71x1.71x
Cash Conversion Cycle--100.35-89.19-92.96-83.88-105.53-100.9-127.12
Total Non-Current Liabilities6.43B252.57M2.26B8.68B13.98B10.15B21.81B17.38B
Long-Term Debt644.6M0511.64M5.96B9.23B1.75B8.15B3.14B
Capital Lease Obligations583.7M241.11M1.39B1.37B1.95B3.68B6.38B26.56B
Deferred Tax Liabilities000077.81M0865M3.16B
Other Non-Current Liabilities5.2B11.46M356.68M1.35B2.14B4.72B5.25B23.56B
Total Liabilities8.18B4.93B6.57B20.78B41.35B82.89B91.03B79.92B
Total Debt1.36B1.71B2.11B7.84B12.26B13.55B16.34B17.89B
Net Debt1.29B414.68M-6.82B-20.01B-26.21B-77.78B-49.56B-33.22B
Debt / Equity-0.37x0.07x0.19x0.27x0.22x0.23x0.23x
Debt / EBITDA-----1.52x1.74x3.30x
Net Debt / EBITDA------8.72x-5.26x-5.26x
Interest Coverage-17.82x-22.00x-9.55x-16.09x-34.37x82.81x33.85x28.54x
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-2.655.0632.9344.3146.5557.2766.9972.51
Total Shareholders' Equity-2.4B4.58B29.8B41.06B44.86B60.14B70.87B72.69B
Common Stock165K165K1.25M1.41M1.42M1.45M1.45M72.69B
Retained Earnings-2.41B-5.69B-6.48B-6.81B-8.82B2.44B10.92B0
Treasury Stock000-89K-84K-90K-74K0
Accumulated OCI12.69M15.54M-1.01B-1.52B-194.11M219.71M-171.75M0
Minority Interest0000327.61M432.6M445.5M506.76M

LI Cash Flow Statement

Li Auto Inc. (LI) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations-1.35B-1.79B3.14B8.34B7.38B50.69B15.93B15.93B
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-2.03B11.7B8.03B4.51B
Depreciation & Amortization60.5M116.39M321M590.4M1.21B1.81B3.06B1.72B
Stock-Based Compensation00142.79M1.1B2.05B2.38B2.63B1.52B
Deferred Taxes00-22.85M168.64M-128.34M-1.8M00
Other Non-Cash Items68.44M661.33M-202.95M185.52M1.24B31.23B142.01M-9.24B
Working Capital Changes-310.44M-153.56M3.07B6.62B5.04B3.58B2.07B-2.09B
Change in Receivables72.21M-8.3M-107.25M-5.46M72.21M-95.1M8.2M72M
Change in Inventory3.13M-510.55M-516.87M-611.56M-5.92B-1.25B-3.1B-4.73B
Change in Payables-62.5M602.28M2.53B6.21B10.59B31.85M2.21B0
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%-
Acquisitions25M-560M-35.45M-630.7M2.09M000
Investments--------
Other Investing-573.55M473.08M54.24M38K4.53M6.49B970.22M-18.54B
Cash from Financing1.11B5.66B24.71B16.71B5.64B185.38M-415.65M-145.63M
Debt Issued (Net)150M401.36M-144.7M5.7B3.08B-1B-430.31M0
Equity Issued (Net)1000K1000K1000K1000K1000K1000K00
Dividends Paid00000000
Share Repurchases-15.14M-3.79M000000
Other Financing269.86M97.41M01.14M96.73M1.19B14.66M-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-2.56-3.042.725.282.3241.787.717.71
FCF Conversion (FCF/Net Income)0.85x0.74x-19.65x-26.29x-3.60x4.33x1.98x-1.71x
Interest Paid000087.94M41.47M96.67M40.16M
Taxes Paid00001.33M58.65M645.53M0

LI Key Ratios

Li Auto Inc. (LI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201920202021202220232024TTM
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 / Equity0.37x0.07x0.19x0.27x0.22x0.23x0.23x
Interest Coverage-22.00x-9.55x-16.09x-34.37x82.81x33.85x28.54x
FCF Conversion0.74x-19.65x-26.29x-3.60x4.33x1.98x-1.71x
Revenue Growth-3052.47%198.2%72.85%168.73%16.71%-11.05%

LI Frequently Asked Questions

Li Auto Inc. (LI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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).

Dividend & Returns

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.

Explore More LI

Li Auto Inc. (LI) financial analysis — history, returns, DCA and operating performance tools

Full LI Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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