NIO Inc. (9866.HK) stock price, financials & research

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Company profile

NIO Inc., based in Shanghai, China, is a prominent player in the smart electric vehicle market, managing the entire process from design and development to manufacturing and sales within China. Its product lineup features various electric SUVs, available in five, six, and seven-seater configurations, alongside sophisticated smart electric sedans. Beyond vehicle production, the company actively engages in crucial supporting activities, including research and development, manufacturing e-powertrains, battery packs, and other core components. It also oversees comprehensive sales and after-sales management and offers integrated energy and service packages to its clientele. A cornerstone of NIO's user experience is its extensive suite of power solutions. These include Power Home for convenient at-home charging, Power Swap for rapid battery exchanges, Power Charger for high-speed public charging, and Power Mobile, a flexible mobile charging service delivered via specialized vans. The Power Map application provides real-time information on public charging stations, complemented by the 'One Click for Power' valet service, which handles vehicle pickup, charging, and battery swapping for users. NIO further supports its customers with a broad spectrum of automotive services. These encompass repair, maintenance, and bodywork, facilitated through its dedicated service centers and approved third-party partners. The company also arranges various insurance products—including statutory, third-party liability, and vehicle damage coverage—through external insurers. Additional provisions include courtesy vehicles, roadside assistance, data packages, and convenient auto financing and leasing options. For the pre-owned vehicle market, NIO Certified offers a structured service for inspecting, evaluating, acquiring, and selling used vehicles. Established in 2014, the company was initially known as NextEV Inc. before officially rebranding to NIO Inc. in July 2017.

Industry: Auto - Manufacturers
Sector: Consumer Cyclical
Headquarters: CN
CEO: Bin Li
Listed since: Mar 10, 2022
Employees: 35,032

Market position

Volume: 1.13M; 0.2× average
Average volume: 5.6M; Average daily volume
Market cap: 82.29B HKD
Beta: 0.9; Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 88.84B CNY
P/E (TTM): -7.84×
P/B (TTM): 17.79×
P/S (TTM): 0.77×
EV / EBITDA: -19.48×
Earnings yield: -17.43%
Free cash flow yield: -3.58%
Dividend yield: 0.00%

Profitability & efficiency

Gross margin: 15.69%
Operating margin: -8.19%
Net margin: -8.97%
Return on equity: -350.22%
Return on assets: -11.71%
Return on invested capital: -26.19%

Financial health

Debt / equity: 6.12×
Current ratio: 0.98×
Altman Z-score: 0.93
Piotroski F-score: 5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

87.49B CNY+33.10%

Operating income

−14.04B CNY+35.81%

Net income

−14.57B CNY+35.68%

Metric (CNY)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	87.49B CNY	65.73B CNY	55.62B CNY	49.27B CNY	36.14B CNY
Cost of goods sold	75.57B CNY	59.24B CNY	52.57B CNY	44.12B CNY	29.31B CNY
Gross profit	11.92B CNY	6.49B CNY	3.05B CNY	5.14B CNY	6.82B CNY
Research and development	9.64B CNY	13.04B CNY	13.43B CNY	10.84B CNY	4.59B CNY
Selling, general, and administrative	14.76B CNY	14.45B CNY	11.95B CNY	9.72B CNY	6.29B CNY
Operating expenses	25.96B CNY	28.37B CNY	25.71B CNY	20.78B CNY	11.32B CNY
Interest income	741.95M CNY	853.73M CNY	2.21B CNY	1.36B CNY	911.83M CNY
Interest expense	862.34M CNY	798.36M CNY	403.53M CNY	333.22M CNY	637.41M CNY
Depreciation and amortization	9.38B CNY	3.38B CNY	4.91B CNY	3.99B CNY	2.35B CNY
Operating income	−14.04B CNY	−21.87B CNY	−22.66B CNY	−15.64B CNY	−4.5B CNY
Net income	−14.57B CNY	−22.66B CNY	−21.15B CNY	−14.56B CNY	−10.57B CNY