Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.45B | $4.24B | $6.57B | $17.4B | $19.8B | $16.1B |
| Revenue growth | — | 192.4% | 54.9% | 165.7% | 13.5% | -18.8% |
| Gross profit | $237M | $904M | $1.27B | $3.87B | $4.06B | $3.00B |
| Gross margin | 16.4% | 21.3% | 19.4% | 22.2% | 20.5% | 18.7% |
| Operating income | -$103M | -$160M | -$530M | $1.04B | $962M | -$74.5M |
| Operating margin | -7.1% | -3.8% | -8.1% | 6.0% | 4.9% | -0.5% |
| Net income | -$23.2M | -$50.4M | -$295M | $1.66B | $1.10B | $163M |
| Net margin | -1.6% | -1.2% | -4.5% | 9.5% | 5.6% | 1.0% |
| EPS (diluted) | -$0.14 | -$0.03 | -$0.15 | $0.78 | $0.52 | $0.08 |
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $481M | $1.31B | $1.07B | $7.14B | $2.18B | -$1.23B |
| Capital expenditures | $103M | $541M | $743M | $917M | $1.06B | $601M |
| Free cash flow | $378M | $768M | $327M | $6.22B | $1.12B | -$1.83B |
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.37B | $4.37B | $5.58B | $12.9B | $9.03B | $8.11B |
| Total assets | $5.57B | $9.71B | $12.5B | $20.2B | $22.2B | $22.1B |
| Total liabilities | $1.01B | $3.26B | $6.00B | $11.7B | $12.5B | $11.6B |
| Long-term debt | $78.4M | $935M | $1.34B | $246M | $1.12B | $472M |
| Shareholders' equity | $4.57B | $6.44B | $6.50B | $8.47B | $9.71B | $10.4B |
| Retained earnings | -$993M | -$1.07B | -$1.28B | $344M | $1.39B | $1.60B |
| Shares (wtd avg diluted) | 870M | 1.85B | 1.94B | 2.12B | 2.13B | 2.14B |
Every figure is extracted from Li Auto Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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