NIO Inc. (NIO) Financial Ratios
10 years of historical data (2016–2025) · Consumer Cyclical · Auto - Manufacturers
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
30Y Low70.0·High70.0
P/B Ratio
↓
6.08
↑+640% vs avg
5yr avg: 0.82
30Y Low0.5·High2.1
ROE
↓
-111.1%
↑-50% vs avg
5yr avg: -74.2%
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.8B | $11.6B | $9.0B | $15.4B | $16.0B | $49.8B | $57.6B | $4.1B | $6.6B | — | — |
| Enterprise Value | $11.9B | $11.8B | $23.5B | $17.2B | $19.8B | $54.6B | $28.7B | $13.8B | $6.7B | — | — |
| P/E Ratio → | -5.11 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.94 | 0.14 | 0.14 | 0.28 | 0.32 | 1.38 | 3.55 | 0.53 | 1.34 | — | — |
| P/B Ratio | 6.08 | 0.91 | 0.66 | 0.52 | 0.58 | 1.43 | 2.12 | — | 0.97 | — | — |
| P/FCF | — | — | — | — | — | — | 70.02 | — | — | — | — |
| P/OCF | 26.75 | 3.87 | — | — | — | 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.14 | 0.36 | 0.31 | 0.40 | 1.51 | 1.77 | 1.77 | 1.36 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | 34.91 | — | — | — | — |
NIO Profitability
Margins and return-on-capital ratios measuring operating efficiency
NIO Inc. earns an operating margin of -16.9%, below the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from -40.7% to -16.9% over the past 3 years, signaling improving operational efficiency. A negative ROE of -111.1% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.6% | 13.6% | 9.9% | 5.5% | 10.4% | 18.9% | 11.5% | -15.3% | -5.2% | — | — |
| Operating Margin | -16.9% | -16.9% | -33.3% | -40.7% | -31.7% | -12.4% | -28.3% | -141.6% | -193.8% | — | — |
| Net Profit Margin | -17.1% | -17.1% | -34.5% | -38.0% | -29.6% | -29.3% | -34.5% | -145.9% | -195.1% | — | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -111.1% | -111.1% | -105.1% | -73.9% | -46.6% | -34.1% | -53.7% | -4199.5% | -141.6% | — | — |
| ROA | -12.5% | -12.5% | -20.1% | -19.8% | -16.3% | -15.4% | -16.2% | -68.3% | -65.9% | -81.5% | -143.3% |
| ROIC | -52.7% | -52.7% | -55.2% | -54.1% | -33.0% | -17.8% | -379.0% | -158.5% | -103.9% | — | — |
| ROCE | -31.5% | -31.5% | -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 $210M ($26.2B total debt minus $26.0B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.07 | 2.07 | 2.50 | 1.17 | 0.86 | 0.58 | 0.35 | — | 0.47 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.02 | 1.07 | 0.06 | 0.14 | 0.14 | -1.06 | — | 0.02 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | -35.11 | — | — | — | — |
| Interest Coverage | -16.69 | -16.69 | -27.09 | -49.70 | -42.16 | -5.24 | -11.44 | -29.46 | -76.78 | -276.27 | -47207.02 |
NIO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets — though the company's $26.0B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 1.22x to 0.98x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 0.99 | 1.22 | 1.29 | 2.18 | 3.31 | 0.52 | 1.42 | 5.13 | 1.20 |
| Quick Ratio | 0.87 | 0.87 | 0.88 | 1.13 | 1.11 | 2.11 | 3.23 | 0.43 | 1.25 | 5.08 | 1.20 |
| Cash Ratio | 0.58 | 0.58 | 0.35 | 0.86 | 0.85 | 1.79 | 3.03 | 0.10 | 0.96 | 4.64 | 0.81 |
| Asset Turnover | — | 0.68 | 0.61 | 0.47 | 0.51 | 0.44 | 0.30 | 0.54 | 0.26 | — | — |
| Inventory Turnover | 8.61 | 8.61 | 8.36 | 9.96 | 5.39 | 14.26 | 13.30 | 10.14 | 3.55 | — | — |
| Days Sales Outstanding | — | 74.99 | 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 2025 | 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 2025 | 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% | 0.0% | 0.1% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Shares Outstanding | — | $2.3B | $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 | -5.1 | — | — | 13.6% | -16.9% | -111.1% | -52.7% | — |
 LI | $13B | 85.9 | — | — | 18.7% | -0.9% | 1.5% | -2.6% | — |
 XPEV | $13B | -37.5 | — | 17.3 | 18.9% | -5.8% | -3.6% | -8.9% | — |
 TSLA | $1.5T | 370.8 | 142.3 | 241.6 | 18.0% | 4.6% | 4.8% | 4.5% | 0.8 |
 GM | $71B | 24.2 | 10.3 | 6.5 | 10.9% | 1.6% | 4.2% | 1.3% | 7.4 |
 F | $55B | -6.8 | 23.4 | 4.4 | 12.2% | 1.4% | -20.2% | 1.0% | 19.7 |
 RIVN | $20B | -5.4 | — | — | 2.7% | -66.5% | -65.4% | -36.7% | — |
 LCID | $2B | -0.4 | — | — | -92.8% | -258.7% | -117.6% | -98.7% | — |
 ON | $48B | 419.4 | 34.2 | 33.6 | 32.3% | 12.5% | 1.5% | 6.1% | 2.4 |
 APTV | $13B | 84.9 | 9.1 | 8.8 | 19.1% | 5.8% | 1.8% | 5.5% | 3.7 |
 MBLY | $7B | -17.6 | 65.6 | 13.2 | 47.7% | -23.2% | -3.3% | -3.2% | — |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 10 years · Updated daily
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NIO — 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 -5.1x. 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 -111.1%. The historical average is -80.9%.
Is NIO stock overvalued?
Based on historical data, NIO Inc. is trading at a P/E of -5.1x. 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 13.6% gross margin and -16.9% operating margin.