NIO Inc. (NIO) Financial Ratios
9 years of historical data (2016–2024) · Consumer Cyclical · Auto - Manufacturers
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: 70.02
30Y Low70.0·High70.0
P/B Ratio
↓
6.13
↑+477% vs avg
5yr avg: 1.06
30Y Low0.5·High2.1
ROE
↓
-105.1%
↑-68% vs avg
5yr avg: -62.7%
30Y Low-142%·High-34%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NIO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NIO Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.4B | $9.0B | $15.4B | $16.0B | $49.8B | $57.6B | $4.1B | $6.6B | — | — |
| Enterprise Value | $14.5B | $23.5B | $17.2B | $19.8B | $54.6B | $28.6B | $13.8B | $6.7B | — | — |
| P/E Ratio → | -3.65 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.28 | 0.14 | 0.28 | 0.32 | 1.38 | 3.55 | 0.53 | 1.34 | — | — |
| P/B Ratio | 6.13 | 0.66 | 0.52 | 0.58 | 1.43 | 2.12 | — | 0.97 | — | — |
| P/FCF | — | — | — | — | — | 70.02 | — | — | — | — |
| P/OCF | — | — | — | — | 25.34 | 29.55 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
NIO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.36 | 0.31 | 0.40 | 1.51 | 1.76 | 1.77 | 1.36 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | 34.80 | — | — | — | — |
NIO Profitability
Margins and return-on-capital ratios measuring operating efficiency
NIO Inc. earns an operating margin of -33.3%, below the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from -31.7% to -33.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -105.1% indicates the company is currently destroying shareholder equity.
Margins
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.9% | 9.9% | 5.5% | 10.4% | 18.9% | 11.5% | -15.3% | -5.2% | — | — |
| Operating Margin | -33.3% | -33.3% | -40.7% | -31.7% | -12.4% | -28.3% | -141.6% | -193.8% | — | — |
| Net Profit Margin | -34.5% | -34.5% | -38.0% | -29.6% | -29.3% | -34.5% | -145.9% | -195.1% | — | — |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -105.1% | -105.1% | -73.9% | -46.6% | -34.1% | -53.7% | -4199.5% | -141.6% | — | — |
| ROA | -20.1% | -20.1% | -19.8% | -16.3% | -15.4% | -16.2% | -68.3% | -65.9% | -81.5% | -143.3% |
| ROIC | -55.2% | -55.2% | -54.1% | -33.0% | -17.8% | -379.0% | -158.5% | -103.9% | — | — |
| ROCE | -41.7% | -41.7% | -41.2% | -30.1% | -9.5% | -20.1% | -144.5% | -100.5% | -100.1% | -249.3% |
NIO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $14.5B ($33.8B total debt minus $19.3B cash).
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.50 | 2.50 | 1.17 | 0.86 | 0.58 | 0.35 | — | 0.47 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 1.07 | 0.06 | 0.14 | 0.14 | -1.07 | — | 0.02 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | -35.22 | — | — | — | — |
| Interest Coverage | -27.40 | -27.40 | -56.14 | -46.94 | -7.05 | -10.82 | -29.90 | -77.61 | -273.92 | -47318.91 |
NIO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.99x is below 1.0, meaning current liabilities exceed current assets — though the company's $19.3B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 1.29x to 0.99x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.99 | 0.99 | 1.22 | 1.29 | 2.18 | 3.31 | 0.52 | 1.42 | 5.13 | 1.20 |
| Quick Ratio | 0.88 | 0.88 | 1.13 | 1.11 | 2.11 | 3.23 | 0.43 | 1.25 | 5.08 | 1.20 |
| Cash Ratio | 0.35 | 0.35 | 0.86 | 0.85 | 1.79 | 3.03 | 0.10 | 0.96 | 4.64 | 0.81 |
| Asset Turnover | — | 0.61 | 0.47 | 0.51 | 0.44 | 0.30 | 0.54 | 0.26 | — | — |
| Inventory Turnover | 8.36 | 8.36 | 9.96 | 5.39 | 14.26 | 13.30 | 10.14 | 3.55 | — | — |
| Days Sales Outstanding | — | 9.31 | 30.57 | 37.92 | 28.26 | 27.90 | 63.07 | 55.77 | — | — |
NIO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NIO Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | 1.4% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Shares Outstanding | — | $2.1B | $1.7B | $1.6B | $1.6B | $1.2B | $1.0B | $1.0B | $1.1B | $1.1B |
Peer Comparison
Compare NIO 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 |
|---|---|---|---|---|---|---|---|---|---|
 NIOYou | $12B | -3.7 | — | — | 9.9% | -33.3% | -105.1% | -55.2% | — |
 LI | $36B | 16.0 | 20.5 | 29.6 | 20.5% | 4.4% | 12.2% | 209.3% | 1.7 |
 XPEV | $6B | -17.7 | — | — | 14.3% | -16.3% | -17.1% | -16.9% | — |
 TSLA | $1.5T | 369.0 | 141.6 | 240.4 | 18.0% | 4.6% | 4.8% | 4.5% | 0.8 |
 GM | $71B | 24.1 | 10.3 | 6.4 | 10.9% | 1.6% | 4.2% | 1.3% | 7.4 |
 F | $48B | -5.9 | 22.5 | 3.8 | 12.2% | 1.4% | -20.2% | 1.0% | 19.7 |
 RIVN | $18B | -4.7 | — | — | 2.7% | -66.5% | -65.4% | -36.7% | — |
 LCID | $2B | -0.5 | — | — | -92.8% | -258.7% | -117.6% | -98.7% | — |
 ON | $42B | 364.7 | 29.9 | 29.3 | 32.3% | 12.5% | 1.5% | 6.1% | 2.4 |
 APTV | $12B | 75.7 | 8.4 | 7.9 | 19.1% | 5.8% | 1.8% | 5.5% | 3.7 |
 MBLY | $7B | -18.9 | 72.1 | 14.1 | 47.7% | -23.2% | -3.3% | -3.2% | — |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 14.9 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
Full NIO Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See NIO's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NIO Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare NIO vs LI
Side-by-side business, growth, and profitability comparison vs Li Auto Inc..
Start ComparisonNIO — Frequently Asked Questions
Quick answers to the most common questions about buying NIO stock.
What is NIO Inc.'s P/E ratio?
NIO Inc.'s current P/E ratio is -3.7x. This places it at the 50th percentile of its historical range.
What is NIO Inc.'s ROE?
NIO Inc.'s return on equity (ROE) is -105.1%. The historical average is -75.9%.
Is NIO stock overvalued?
Based on historical data, NIO Inc. is trading at a P/E of -3.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are NIO Inc.'s profit margins?
NIO Inc. has 9.9% gross margin and -33.3% operating margin.