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LI

Li Auto Inc.

LI

Li Auto Inc. • NASDAQ
$18.39 ▼ -0.22% (-0.04)
Market Cap $18.48 B
52w High $33.12
52w Low $17.59
Dividend Yield 0%
P/E 17.03
Volume 3.03M
Outstanding Shares 1.00B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $30.246B ▲ $5.24B ▲ $1.093B ▲ 3.612% ▲ $1.1 ▲ $2.18B ▲
Q1-2025 $25.927B ▼ $5.047B ▼ $650.324M ▼ 2.508% ▼ $0.66 ▼ $1.036B ▼
Q4-2024 $44.274B ▲ $5.267B ▼ $3.523B ▲ 7.957% ▲ $3.52 ▲ $4.477B ▲
Q3-2024 $42.874B ▲ $5.792B ▲ $2.814B ▲ 6.564% ▲ $2.82 ▲ $3.884B ▲
Q2-2024 $31.678B $5.709B $1.103B 3.481% $1.12 $1.221B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $106.919B ▼ $161.286B ▼ $87.658B ▼ $73.122B ▲
Q1-2025 $110.678B ▼ $161.855B ▼ $89.529B ▼ $71.824B ▲
Q4-2024 $112.806B ▲ $162.349B ▲ $91.029B ▲ $70.875B ▲
Q3-2024 $106.537B ▲ $154.821B ▲ $87.79B ▲ $66.595B ▲
Q2-2024 $97.247B $145.11B $81.796B $62.884B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.093B ▲ $-3.036B ▼ $-226.724M ▲ $-70.037M ▼ $-3.441B ▲ $-4.671B ▼
Q1-2025 $650.324M ▼ $-1.701B ▼ $-10.96B ▲ $61.406M ▲ $-12.67B ▼ $-1.701B ▼
Q4-2024 $3.523B ▲ $8.68B ▼ $-19.987B ▼ $-734.467M ▼ $-11.685B ▼ $6.059B ▼
Q3-2024 $0 ▼ $11.025B ▲ $-14.213B ▼ $238.305M ▲ $-3.195B ▲ $9.052B ▲
Q2-2024 $1.103B $-429.397M $-3.839B $-104.743M $-4.341B $-3.566B

Revenue by Products

Product Q3-2022Q4-2022
Other Sales And Services
Other Sales And Services
 $540.00M ▲$270.00M ▼
Vehicle sales
Vehicle sales
 $0 ▲$13.82Bn ▲
Vehicles
Vehicles
 $21.87Bn ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Li Auto has moved from being a fast‑growing but loss‑making newcomer to a sizeable, consistently profitable car maker. Revenue has climbed rapidly over the past five years, showing that customer demand for its models has scaled quickly. Profitability improved sharply as the business gained scale, with both operating and net income turning solidly positive. The latest year shows revenue still growing but profits dipping from the prior peak, which suggests rising costs, heavier investment, or pricing pressure. Overall, the business has proven it can make money, but margins now look more exposed to competitive and execution pressures than in the recent boom phase.

Balance Sheet

Balance Sheet The balance sheet looks robust and growth‑oriented. Total assets have expanded steadily as the company has invested in factories, technology, and infrastructure. Cash levels remain high, even after a recent step down, giving Li Auto a sizeable financial cushion for product development and expansion. Debt has risen over time but stays modest compared with cash and equity, pointing to a net cash position and conservative leverage. Shareholders’ equity has grown consistently, reflecting accumulated capital and retained earnings, which supports financial resilience in a volatile auto market.

Cash Flow

Cash Flow Li Auto has generated healthy cash from its operations, especially in the last few years, confirming that its business model turns sales into real cash rather than just accounting profits. Free cash flow has stayed positive throughout the period, even as the company steadily increased its spending on new plants, equipment, and supporting infrastructure. The most recent year shows a comedown from an exceptionally strong cash year, but cash generation still looks comfortably positive. This combination of ongoing investment and surplus cash flow is a key strength, as long as demand remains solid and competitive pressures do not erode margins too far.

Competitive Edge

Competitive Edge Li Auto has built a strong niche in China’s premium family SUV segment by focusing on extended‑range electric vehicles that ease range anxiety and by emphasizing comfort and in‑car technology rather than just raw performance. Its “mobile home” concept, spacious interiors, and family‑oriented features strongly differentiate it from more driver‑centric competitors. The company benefits from an early lead in this specific segment, a growing brand among affluent families, and a high degree of in‑house technology. However, it operates in one of the most fiercely competitive auto markets in the world, with aggressive local rivals and global players pushing price cuts, rapid model cycles, and pure battery electric vehicles, which could pressure both pricing and market share over time.

Innovation and R&D

Innovation and R&D Innovation is at the core of Li Auto’s strategy. Its extended‑range electric technology was an important bridge for consumers worried about charging, helping it scale quickly. The firm has also invested heavily in a high‑end smart cockpit experience and its own advanced driver‑assistance system, integrating powerful chips, extensive sensor suites, and frequent software updates. Looking ahead, the company is shifting its focus toward pure battery electric models with very fast charging and is working on higher‑level autonomous driving and in‑house power chips. This deep R&D commitment strengthens its technological edge, but it is costly, and success hinges on flawless execution of the transition from range‑extender vehicles to competitive full EVs in a crowded field.

Summary

Li Auto has evolved from a niche newcomer to a sizable, profitable player in China’s new energy vehicle market, with strong revenue growth, positive earnings, and a cash‑rich, lightly leveraged balance sheet. The business generates solid free cash flow while still investing aggressively in plants, technology, and new models. Its competitive strength lies in a clear focus on premium family SUVs, a distinctive customer experience, and heavy in‑house technology development, especially in smart cockpits and autonomous driving. The main uncertainties come from intense competition, industry price pressure, and the strategic shift from extended‑range hybrids to full battery electric vehicles. How well Li Auto manages this transition, maintains margins, and scales its next generation of products will be central to its long‑term trajectory.

NEWS

November 26, 2025 · 3:45 AM UTC

Li Auto Inc. Announces Unaudited Third Quarter 2025 Financial Results

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November 14, 2025 · 3:30 AM UTC

Li Auto Inc. to Report Third Quarter 2025 Financial Results on November 26, 2025

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October 31, 2025 · 10:00 PM UTC

Li Auto Inc. October 2025 Delivery Update

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September 30, 2025 · 10:00 PM UTC

Li Auto Inc. September 2025 Delivery Update

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September 26, 2025 · 5:00 AM UTC

Li Auto Inc. Launches Li i6, a Pioneering Five-Seat Battery Electric SUV

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