What is LI AUTO INC's earnings per share (EPS)?

LI AUTO INC (LAAOF) reported diluted earnings per share of $0.08 for fiscal year 2025. This represents a -84.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

LI AUTO INC Financials

LAAOF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows LI AUTO INC (LAAOF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LAAOF FY2025 2026-04-22

Li Auto’s recent earnings became less cash-backed as working-capital tailwinds reversed and automotive margins narrowed.

At its cash peak, free cash flow reached $6.2B even though net income was only $1.7B, a gap too large to come from margin alone. Two years later, net income was still $163M but operating cash flow had swung to -$1.2B, showing that earlier cash strength leaned heavily on working-capital timing and later reversed.

The balance sheet is still cash-heavy: cash of $8.1B dwarfed long-term debt of $472M, so the company is not relying on borrowing to get through a softer operating period. A current ratio of 1.8x also indicates near-term obligations remain covered, which makes the cash burn more about operating execution than solvency.

Overhead now consumes the product spread: R&D plus SG&A ran about $3.1B, slightly above gross profit of $3.0B, which is why operating results slipped below break-even even before financing effects. That pressure intensified because gross margin narrowed to 18.7% from 20.5%, leaving a thinner cushion to absorb roughly steady spending.

Financial Health Signals

Financial Profile 41/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of LI AUTO INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

LI AUTO INC has an operating margin of -0.5%, meaning the company retains $-0 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is down from 4.9% the prior year.

Growth

LI AUTO INC's revenue declined 18.8% year-over-year, from $19.8B to $16.1B. This contraction results in a growth score of 27/100.

Leverage

100

LI AUTO INC carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

LI AUTO INC's current ratio of 1.81 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While LI AUTO INC generated -$1.2B in operating cash flow, capex of $601.4M consumed most of it, leaving -$1.8B in free cash flow. This results in a low score of 33/100, reflecting heavy capital investment rather than weak cash generation.

Returns

LI AUTO INC generates a 1.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 11.3% the prior year.

Piotroski F-Score Weak

2/9

LI AUTO INC passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-7.56x

For every $1 of reported earnings, LI AUTO INC generates $-7.56 in operating cash flow (-$1.2B OCF vs $162.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-3.1x

LI AUTO INC earns $-3.1 in operating income for every $1 of interest expense (-$74.5M vs $24.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$16.1B

YoY-18.8%

5Y CAGR+61.8%

LI AUTO INC generated $16.1B in revenue in fiscal year 2025. This represents a decrease of 18.8% from the prior year.

EBITDA

$588.3M

YoY-57.4%

LI AUTO INC's EBITDA was $588.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 57.4% from the prior year.

Net Income

$162.9M

YoY-85.2%

LI AUTO INC reported $162.9M in net income in fiscal year 2025. This represents a decrease of 85.2% from the prior year.

EPS (Diluted)

$0.08

YoY-84.6%

LI AUTO INC earned $0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 84.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$1.8B

YoY-263.1%

LI AUTO INC generated -$1.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 263.1% from the prior year.

Cash & Debt

$8.1B

YoY-10.2%

5Y CAGR+42.7%

LI AUTO INC held $8.1B in cash against $471.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

2.03B

YoY+1.0%

5Y CAGR+2.3%

LI AUTO INC had 2.03B shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.

Margins & Returns

Gross Margin

18.7%

YoY-1.9pp

5Y CAGR+2.3pp

LI AUTO INC's gross margin was 18.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.9 percentage points from the prior year.

Operating Margin

-0.5%

YoY-5.3pp

5Y CAGR+6.6pp

LI AUTO INC's operating margin was -0.5% in fiscal year 2025, reflecting core business profitability. This is down 5.3 percentage points from the prior year.

Net Margin

1.0%

YoY-4.6pp

5Y CAGR+2.6pp

LI AUTO INC's net profit margin was 1.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.6 percentage points from the prior year.

Return on Equity

1.6%

YoY-9.8pp

5Y CAGR+2.1pp

LI AUTO INC's ROE was 1.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$1.6B

YoY+6.7%

5Y CAGR+57.2%

LI AUTO INC invested $1.6B in research and development in fiscal year 2025. This represents an increase of 6.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$601.4M

YoY-43.2%

5Y CAGR+42.2%

LI AUTO INC invested $601.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 43.2% from the prior year.

LAAOF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$16.1B-18.8%	$19.8B+13.5%	$17.4B+165.7%	$6.6B+54.9%	$4.2B+192.4%	$1.4B
Cost of Revenue	$13.1B-17.0%	$15.7B+15.9%	$13.6B+156.5%	$5.3B+58.7%	$3.3B+175.1%	$1.2B
Gross Profit	$3.0B-26.1%	$4.1B+4.9%	$3.9B+203.9%	$1.3B+41.0%	$904.1M+280.8%	$237.4M
R&D Expenses	$1.6B+6.7%	$1.5B+1.7%	$1.5B+51.7%	$983.0M+90.6%	$515.7M+205.9%	$168.6M
SG&A Expenses	$1.5B-9.0%	$1.7B+21.8%	$1.4B+67.5%	$821.4M+49.9%	$548.0M+219.6%	$171.5M
Operating Income	-$74.5M-107.7%	$961.6M-7.8%	$1.0B+296.9%	-$529.9M-231.9%	-$159.6M-55.6%	-$102.6M
Interest Expense	$24.0M-6.6%	$25.7M+111.7%	$12.1M-21.2%	$15.4M+55.4%	$9.9M-3.2%	$10.3M
Income Tax	$22.6M-87.0%	$174.0M+191.0%	-$191.2M-938.2%	-$18.4M-169.6%	$26.5M+855.9%	-$3.5M
Net Income	$162.9M-85.2%	$1.1B-33.7%	$1.7B+664.5%	-$294.7M-484.2%	-$50.4M-117.0%	-$23.2M
EPS (Diluted)	$0.08-84.6%	$0.52-33.3%	$0.78+620.0%	$-0.15-400.0%	$-0.03	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LAAOF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$22.1B-0.8%	$22.2B+10.1%	$20.2B+61.1%	$12.5B+29.3%	$9.7B+74.1%	$5.6B
Current Assets	$16.5B-4.7%	$17.3B+7.3%	$16.1B+66.1%	$9.7B+18.2%	$8.2B+70.9%	$4.8B
Cash & Equivalents	$8.1B-10.2%	$9.0B-29.8%	$12.9B+130.6%	$5.6B+27.6%	$4.4B+219.1%	$1.4B
Inventory	$1.3B+11.6%	$1.1B+15.9%	$967.9M-1.9%	$986.6M+288.6%	$253.9M+58.1%	$160.6M
Accounts Receivable	$17.1M-7.4%	$18.5M-8.4%	$20.2M+188.2%	$7.0M-62.9%	$18.9M+6.8%	$17.7M
Goodwill	$784K+4.4%	$751K-2.7%	$772K-2.9%	$795K	N/A	N/A
Total Liabilities	$11.6B-6.9%	$12.5B+6.8%	$11.7B+94.7%	$6.0B+83.8%	$3.3B+223.9%	$1.0B
Current Liabilities	$9.1B-4.2%	$9.5B-7.4%	$10.2B+158.2%	$4.0B+108.9%	$1.9B+187.7%	$660.4M
Long-Term Debt	$471.8M-57.8%	$1.1B+353.8%	$246.1M-81.6%	$1.3B+43.1%	$935.4M+1092.9%	$78.4M
Total Equity	$10.4B+6.9%	$9.7B+14.6%	$8.5B+30.2%	$6.5B+0.9%	$6.4B+41.1%	$4.6B
Retained Earnings	$1.6B+14.8%	$1.4B+304.7%	$343.9M+126.9%	-$1.3B-19.7%	-$1.1B-7.5%	-$993.4M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q4'21	Q4'20
Total Assets	$22.1B-0.8%	$22.2B+10.1%	$20.2B+61.1%	$12.5B+12.6%	$11.1B+14.8%	$9.7B+74.1%	$5.6B
Current Assets	$16.5B-4.7%	$17.3B+7.3%	$16.1B+66.1%	$9.7B+11.3%	$8.7B+6.2%	$8.2B+70.9%	$4.8B
Cash & Equivalents	$8.1B-10.2%	$9.0B-29.8%	$12.9B+130.6%	$5.6B+5.9%	$5.3B+20.5%	$4.4B+219.1%	$1.4B
Inventory	$1.3B+11.6%	$1.1B+15.9%	$967.9M-1.9%	$986.6M+27.2%	$775.4M+205.4%	$253.9M+58.1%	$160.6M
Accounts Receivable	$17.1M-7.4%	$18.5M-8.4%	$20.2M+188.2%	$7.0M+53.2%	$4.6M-75.8%	$18.9M+6.8%	$17.7M
Goodwill	$784K+4.4%	$751K-2.7%	$772K-2.9%	$795K	N/A	N/A	N/A
Total Liabilities	$11.6B-6.9%	$12.5B+6.8%	$11.7B+94.7%	$6.0B+21.6%	$4.9B+51.2%	$3.3B+223.9%	$1.0B
Current Liabilities	$9.1B-4.2%	$9.5B-7.4%	$10.2B+158.2%	$4.0B+28.9%	$3.1B+62.0%	$1.9B+187.7%	$660.4M
Long-Term Debt	$471.8M-57.8%	$1.1B+353.8%	$246.1M-81.6%	$1.3B+6.2%	$1.3B+34.7%	$935.4M+1092.9%	$78.4M
Total Equity	$10.4B+6.9%	$9.7B+14.6%	$8.5B+30.2%	$6.5B+5.5%	$6.2B-4.3%	$6.4B+41.1%	$4.6B
Retained Earnings	$1.6B+14.8%	$1.4B+304.7%	$343.9M+126.9%	-$1.3B-0.2%	-$1.3B-19.5%	-$1.1B-7.5%	-$993.4M

LAAOF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$1.2B-156.4%	$2.2B-69.4%	$7.1B+567.3%	$1.1B-18.2%	$1.3B+172.0%	$481.2M
Capital Expenditures	$601.4M-43.2%	$1.1B+15.5%	$916.5M+23.3%	$743.5M+37.5%	$540.5M+422.4%	$103.5M
Free Cash Flow	-$1.8B-263.1%	$1.1B-81.9%	$6.2B+1805.8%	$326.6M-57.5%	$768.3M+103.4%	$377.7M
Investing Cash Flow	-$100.5M+98.2%	-$5.6B-331415.8%	-$1.7M+99.7%	-$632.8M+5.3%	-$668.1M+76.7%	-$2.9B
Financing Cash Flow	$109.7M+292.7%	-$56.9M-318.1%	$26.1M-96.8%	$817.6M-68.8%	$2.6B-30.8%	$3.8B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	$724.9M	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	$257.1M	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	$467.8M	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	-$765.5M	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	$60.1M	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LAAOF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	18.7%-1.9pp	20.5%-1.7pp	22.2%+2.8pp	19.4%-1.9pp	21.3%+4.9pp	16.4%
Operating Margin	-0.5%-5.3pp	4.9%-1.1pp	6.0%+14.0pp	-8.1%-4.3pp	-3.8%+3.3pp	-7.1%
Net Margin	1.0%-4.6pp	5.6%-4.0pp	9.5%+14.0pp	-4.5%-3.3pp	-1.2%+0.4pp	-1.6%
Return on Equity	1.6%-9.8pp	11.3%-8.3pp	19.6%+24.2pp	-4.5%-3.8pp	-0.8%-0.3pp	-0.5%
Return on Assets	0.7%-4.2pp	5.0%-3.3pp	8.2%+10.6pp	-2.4%-1.8pp	-0.5%-0.1pp	-0.4%
Current Ratio	1.81-0.0	1.82+0.3	1.57-0.9	2.45-1.9	4.33-3.0	7.28
Debt-to-Equity	0.05-0.1	0.12+0.1	0.03-0.2	0.21+0.1	0.15+0.1	0.02
FCF Margin	-11.4%-17.1pp	5.7%-30.0pp	35.7%+30.7pp	5.0%-13.2pp	18.1%-7.9pp	26.1%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.81-0.0	1.82+0.3	1.57-0.9	2.45-0.4	2.83-1.5	4.33-3.0	7.28
Debt-to-Equity	0.05-0.1	0.12+0.1	0.03-0.2	0.210.0	0.20+0.1	0.15+0.1	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is LI AUTO INC's annual revenue?

LI AUTO INC (LAAOF) reported $16.1B in total revenue for fiscal year 2025. This represents a -18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is LI AUTO INC's revenue growing?

LI AUTO INC (LAAOF) revenue declined by 18.8% year-over-year, from $19.8B to $16.1B in fiscal year 2025.

Is LI AUTO INC profitable?

Yes, LI AUTO INC (LAAOF) reported a net income of $162.9M in fiscal year 2025, with a net profit margin of 1.0%.

What is LI AUTO INC's EBITDA?

LI AUTO INC (LAAOF) had EBITDA of $588.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does LI AUTO INC have?

As of fiscal year 2025, LI AUTO INC (LAAOF) had $8.1B in cash and equivalents against $471.8M in long-term debt.

What is LI AUTO INC's gross margin?

LI AUTO INC (LAAOF) had a gross margin of 18.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is LI AUTO INC's operating margin?

LI AUTO INC (LAAOF) had an operating margin of -0.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is LI AUTO INC's net profit margin?

LI AUTO INC (LAAOF) had a net profit margin of 1.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is LI AUTO INC's return on equity (ROE)?

LI AUTO INC (LAAOF) has a return on equity of 1.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is LI AUTO INC's free cash flow?

LI AUTO INC (LAAOF) generated -$1.8B in free cash flow during fiscal year 2025. This represents a -263.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is LI AUTO INC's operating cash flow?

LI AUTO INC (LAAOF) generated -$1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are LI AUTO INC's total assets?

LI AUTO INC (LAAOF) had $22.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are LI AUTO INC's capital expenditures?

LI AUTO INC (LAAOF) invested $601.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does LI AUTO INC spend on research and development?

LI AUTO INC (LAAOF) invested $1.6B in research and development during fiscal year 2025.

How many shares does LI AUTO INC have outstanding?

LI AUTO INC (LAAOF) had 2.03B shares outstanding as of fiscal year 2025.

What is LI AUTO INC's current ratio?

LI AUTO INC (LAAOF) had a current ratio of 1.81 as of fiscal year 2025, which is generally considered healthy.

What is LI AUTO INC's debt-to-equity ratio?

LI AUTO INC (LAAOF) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is LI AUTO INC's return on assets (ROA)?

LI AUTO INC (LAAOF) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is LI AUTO INC's cash runway?

Based on fiscal year 2025 data, LI AUTO INC (LAAOF) had $8.1B in cash against an annual operating cash burn of $1.2B. This gives an estimated cash runway of approximately 79 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is LI AUTO INC's Piotroski F-Score?

LI AUTO INC (LAAOF) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are LI AUTO INC's earnings high quality?

LI AUTO INC (LAAOF) has an earnings quality ratio of -7.56x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can LI AUTO INC cover its interest payments?

LI AUTO INC (LAAOF) has an interest coverage ratio of -3.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is LI AUTO INC?

LI AUTO INC (LAAOF) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.