LI
Li Auto Inc.
Next earnings Aug 26, 2026 · consensus $-0.45 EPS, $25.5B rev
$12.02
▲ +1.09%$12.02▼ -56.24%
over 1Y
L $11.83H $31.80
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.1%
1W+1.6%
1M-22.1%
3M-34.9%
YTD-30.3%
1Y-56.2%
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 31 analysts
Buy
Cash-rich Chinese EV maker hit by a sharp 2025 reversal — revenue down 19%, near-breakeven operating income; turnaround unproven.
Revenue (FY2025) $16.1B · FY2025
The read
Middling fundamentals and a rich price (~95% above fair value) leave little margin of safety — a wait-and-see.
Li Auto's FY2025 marked a sharp deterioration from its prior breakout. Revenue fell 18.8% to $16.1B, gross profit dropped 26.1% to $3.00B (gross margin compressing to 18.7%), and the company swung to a $74.5M operating loss (-0.5% margin) from prior-year profitability. Net income collapsed 85.2% to just $163M ($0.08 diluted EPS), and operating cash flow turned sharply negative at -$1.23B. After scaling from $4.24B revenue in 2021 to nearly $19.8B in 2024, the company has just posted its first revenue decline and effectively round-tripped its profitability — a stark reminder of how competitive China's EV price war has become.
The redeeming feature is the balance sheet. Li Auto still holds $8.11B of cash against modest debt ($472M long-term plus $889M short-term borrowings) and $10.4B of equity, giving it ample runway to fund the $1.62B R&D budget (up 6.7%) and weather the downturn. Capex was cut 43.2% to $601M, conserving cash. Liabilities/equity sits at a manageable 1.12x. This is not a balance-sheet-distress situation; it is an earnings-power and competitive-positioning problem.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:45 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $4.24B | $6.57B | $17.4B | $19.8B | $16.1B |
| Gross profit | $904M | $1.27B | $3.87B | $4.06B | $3.00B |
| Operating income | -$160M | -$530M | $1.04B | $962M | -$74.5M |
| Net income | -$50.4M | -$295M | $1.66B | $1.10B | $163M |
| Diluted EPS | -$0.03 | -$0.15 | $0.78 | $0.52 | $0.08 |
| Net margin | -1.2% | -4.5% | 9.5% | 5.6% | 1.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$5.19B
EV / EBITDA8.8
EV / Sales0.3
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield1.4%
FCF yield-15.4%
Quality & risk
ROIC (est.)-0.5%
Free cash flow-$1.83B
Total debt$1.36B
Net cash$6.75B
Altman Z-Score1.84 grey
Piotroski F-Score2/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+1.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Recent filings
all on EDGAR ↗6-KPeriod ending 2026-07-012026-07-01open ↗6-KPeriod ending 2026-06-292026-06-29open ↗6-KPeriod ending 2026-06-222026-06-22open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗6-KPeriod ending 2026-06-162026-06-16open ↗6-KPeriod ending 2026-06-152026-06-15open ↗144Filing2026-06-12open ↗6-KPeriod ending 2026-06-082026-06-08open ↗6-KPeriod ending 2026-06-012026-06-01open ↗6-KPeriod ending 2026-06-012026-06-01open ↗
Frequently asked
- Is Li Auto Inc. (LI) a buy?
- LI currently carries a Hold rating with 2/5 conviction, derived from its latest SEC filings. Cash-rich Chinese EV maker hit by a sharp 2025 reversal — revenue down 19%, near-breakeven operating income; turnaround unproven.
- What is LI's fair value?
- A Modified-Graham model based on LI's SEC fundamentals estimates a fair value of about $0.58. It is an estimate from reported earnings, not a price target.
- Is LI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, LI currently appears overvalued relative to its SEC-grounded earnings power.
- What is Li Auto Inc.'s quality score?
- LI scores 42.49389701654778/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001791706, latest 6-K filed 2026-07-01) · EODHD · Proprietary analysis · as of 6/21/2026, 8:45:08 PM.
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