7 years of historical data (2018–2024) · Consumer Cyclical · Auto - Manufacturers
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Li Auto Inc. trades at 16.0x earnings, 387% above its 5-year average of 3.3x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 18.8x, the stock trades at a discount of 15%. On a free-cash-flow basis, the stock trades at 29.5x P/FCF, 401% above the 5-year average of 5.9x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $35.3B | $25.5B | $39.6B | $19.8B | $29.7B | $26.1B | — | — |
| Enterprise Value | $28.1B | $-24015774365 | $-38192901160 | $-6413081800 | $9.7B | $19.3B | — | — |
| P/E Ratio → | 16.00 | 3.18 | 3.38 | — | — | — | — | — |
| P/S Ratio | 1.68 | 0.18 | 0.32 | 0.43 | 1.12 | 2.92 | — | — |
| P/B Ratio | 1.80 | 0.36 | 0.65 | 0.44 | 0.72 | 0.88 | — | — |
| P/FCF | 29.53 | 3.11 | 0.90 | 8.79 | 6.08 | 10.59 | — | — |
| P/OCF | 15.21 | 1.60 | 0.78 | 2.68 | 3.57 | 8.31 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Li Auto Inc.'s enterprise value stands at 20.5x EBITDA. The Consumer Cyclical sector median is 11.0x, placing the stock at a 86% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.17 | -0.31 | -0.14 | 0.37 | 2.15 | — | — |
| EV / EBITDA | 20.46 | -2.55 | -4.28 | — | — | — | — | — |
| EV / EBIT | 30.31 | -2.53 | -3.62 | — | — | — | — | — |
| EV / FCF | — | -2.93 | -0.86 | -2.85 | 1.99 | 7.82 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Li Auto Inc. earns an operating margin of 4.4%, above the Consumer Cyclical sector average of 2.4%. Operating margins have expanded from -8.1% to 4.4% over the past 3 years, signaling improving operational efficiency. ROE of 12.2% is modest. ROIC of 209.3% represents excellent returns on invested capital versus a sector median of 5.6%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.5% | 20.5% | 22.2% | 19.1% | 20.8% | 15.5% | -34.2% | — |
| Operating Margin | 4.4% | 4.4% | 5.8% | -8.1% | -3.8% | -6.8% | -647.2% | — |
| Net Profit Margin | 5.6% | 5.6% | 9.5% | -4.4% | -1.2% | -1.8% | -857.5% | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| ROE | 12.2% | 12.2% | 22.1% | -4.7% | -0.9% | -0.9% | -222.6% | — |
| ROA | 5.3% | 5.3% | 10.2% | -2.8% | -0.6% | -0.7% | -31.8% | -27.5% |
| ROIC | 209.3% | 209.3% | 606.7% | -13.9% | -3.4% | -3.2% | -70.9% | — |
| ROCE | 7.8% | 7.8% | 11.0% | -6.8% | -2.5% | -3.3% | -41.4% | -29.1% |
Solvency and debt-coverage ratios — lower is generally safer
Li Auto Inc. carries a Debt/EBITDA ratio of 1.7x, which is manageable (58% below the sector average of 4.2x). The company holds a net cash position — cash of $65.9B exceeds total debt of $16.3B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 33.9x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.23 | 0.23 | 0.22 | 0.27 | 0.19 | 0.07 | 0.37 | — |
| Debt / EBITDA | 1.74 | 1.74 | 1.52 | — | — | — | — | — |
| Net Debt / Equity | — | -0.69 | -1.28 | -0.58 | -0.49 | -0.23 | 0.09 | — |
| Net Debt / EBITDA | -5.26 | -5.26 | -8.72 | — | — | — | — | — |
| Debt / FCF | — | -6.04 | -1.76 | -11.64 | -4.09 | -2.77 | — | — |
| Interest Coverage | 33.85 | 33.85 | 82.81 | -34.37 | -16.09 | -9.55 | -22.00 | -17.82 |
Net cash position: cash ($65.9B) exceeds total debt ($16.3B)
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.82x means Li Auto Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 2.45x to 1.82x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.82 | 1.82 | 1.57 | 2.45 | 4.33 | 7.28 | 1.08 | 1.31 |
| Quick Ratio | 1.71 | 1.71 | 1.48 | 2.20 | 4.19 | 7.04 | 0.97 | 1.31 |
| Cash Ratio | 1.63 | 1.63 | 1.42 | 2.06 | 3.92 | 6.65 | 0.76 | 0.53 |
| Asset Turnover | — | 0.89 | 0.86 | 0.53 | 0.43 | 0.25 | 0.03 | — |
| Inventory Turnover | 14.03 | 14.03 | 14.02 | 5.48 | 13.05 | 7.21 | 0.73 | 578.70 |
| Days Sales Outstanding | — | 0.34 | 0.42 | 0.38 | 1.65 | 4.72 | 10.69 | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Li Auto Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 6.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 31.4% | 29.5% | — | — | — | — | — |
| FCF Yield | 3.4% | 32.1% | 111.6% | 11.4% | 16.5% | 9.4% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $1.1B | $1.1B | $971M | $927M | $905M | $905M | $905M |
Compare LI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| LIYou | $35B | 16.0 | 20.5 | 29.5 | 20.5% | 4.4% | 12.2% | 209.3% | 1.7 |
| TSLA | $1.5T | 372.7 | 143.0 | 242.7 | 18.0% | 4.6% | 4.8% | 4.5% | 0.8 |
| NIO | $10B | -3.0 | — | — | 9.9% | -33.3% | -105.1% | -55.2% | — |
| VFS | $8B | -2.6 | — | — | -57.4% | -125.9% | — | -78.9% | — |
| ZK | $7B | -1.0 | — | 4.6 | 16.4% | -8.5% | — | — | — |
| XPEV | $6B | -9.8 | — | — | 14.3% | -16.3% | -17.1% | -16.9% | — |
| LCID | $3B | -0.8 | — | — | — | — | -117.6% | -98.7% | — |
| PSNY | $2B | -24.0 | — | — | -43.1% | -89.1% | — | -109.3% | — |
| FFAI | $101M | -0.0 | — | — | -15489.8% | -27780.7% | -207.4% | -39.0% | — |
| RIVN | $61M | -5.0 | — | — | 2.7% | -66.5% | -65.2% | -41.2% | — |
| CJET | $11M | -0.0 | — | — | -359.0% | -828.3% | — | -17.3% | — |
| Consumer Cyclical Median | — | 18.8 | 11.0 | 14.0 | 38.6% | 2.4% | 6.5% | 5.6% | 4.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 7 years · Updated daily
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Start ComparisonLi Auto Inc.'s current P/E ratio is 16.0x. The historical average is 3.3x. This places it at the 100th percentile of its historical range.
Li Auto Inc.'s current EV/EBITDA is 20.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Li Auto Inc.'s return on equity (ROE) is 12.2%. The historical average is -32.5%.
Based on historical data, Li Auto Inc. is trading at a P/E of 16.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Li Auto Inc. has 20.5% gross margin and 4.4% operating margin.
Li Auto Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.