NIO
NIO Inc.
Next earnings Aug 31, 2026 · consensus $-0.21 EPS, $34.0B rev
$4.79
▼ -3.23%$4.79▲ +38.44%
over 1Y
L $3.41H $7.89
Today-3.2%
1W+1.3%
1M-20.3%
3M-24.0%
YTD-6.8%
1Y+38.4%
Avoid
Conviction
Horizon
Medium (3–12mo)
Street · 31 analysts
Buy
NIO is growing fast but bleeding cash with a near-wiped-out balance sheet — five straight years of losses and 26.86x leverage make it uninvestable.
Net income -$2.14B · FY2025
NIO sells premium electric vehicles in China and is growing revenue impressively — FY2025 revenue rose 38.9% to $12.5B and gross profit nearly doubled (+91.6%) to $1.70B, lifting gross margin to 13.6%. The FY2025 net loss of -$2.14B also narrowed from -$3.07B in FY2024, and operating cash flow turned positive at $428M (up 139.8%). On the surface, the trajectory is improving.
But the financial condition is fragile to the point of being uninvestable on the numbers provided. NIO has lost money every year shown — -$630M, -$2.09B, -$2.92B, -$3.07B and -$2.14B from FY2021 to FY2025 — accumulating an $18.3B retained deficit. Stockholders' equity has collapsed to just $595M (down 27.2%) against $16.0B of total liabilities, an extreme 26.86x liabilities/equity ratio that signals the company is one bad year from negative book value. Cash fell 39.1% to $1.61B, and current liabilities of $11.2B already exceed current assets of $11.0B — negative working capital while still burning. Operating margin is -16.0% and ROE is -359.2%.
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, 4:47 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 | $5.67B | $7.14B | $7.83B | $9.01B | $12.5B |
| Gross profit | $1.07B | $746M | $430M | $890M | $1.70B |
| Operating income | -$706M | -$2.27B | -$3.19B | -$3.00B | -$2.01B |
| Net income | -$630M | -$2.09B | -$2.92B | -$3.07B | -$2.14B |
| Diluted EPS | -$1.05 | -$1.29 | -$1.75 | -$1.51 | -$0.98 |
| Net margin | -11.1% | -29.3% | -37.3% | -34.1% | -17.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$11.7B
EV / EBITDA—
EV / Sales0.9
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-17.8%
FCF yield-3.7%
Quality & risk
ROIC (est.)-82.5%
Free cash flow-$439M
Total debt$1.33B
Net cash$285M
Altman Z-Score-0.68 distress
Piotroski F-Score6/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+18.3%
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 2026-07-022026-07-02open ↗6-KPeriod ending 2026-06-242026-06-24open ↗6-KPeriod ending 2026-06-092026-06-09open ↗4Period ending 2026-06-012026-06-01open ↗4Period ending 2026-06-012026-06-01open ↗4Period ending 2026-06-012026-06-01open ↗144Filing2026-06-01open ↗144Filing2026-06-01open ↗144Filing2026-06-01open ↗6-KPeriod ending 2026-06-012026-06-01open ↗6-KPeriod ending 2026-05-222026-05-22open ↗6-KPeriod ending 2026-05-212026-05-21open ↗
Frequently asked
- Is NIO Inc. (NIO) a buy?
- NIO currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. NIO is growing fast but bleeding cash with a near-wiped-out balance sheet — five straight years of losses and 26.86x leverage make it uninvestable.
- What is NIO Inc.'s quality score?
- NIO scores 57.23285984848486/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001736541, latest 6-K filed 2026-07-02) · EODHD · Proprietary analysis · as of 6/21/2026, 8:47:19 PM.
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