Lucid Group Inc Financials
Lucid Group Inc (LCID) reported $1.5B in revenue over the twelve months to Jun 30, 2026, up 66.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Lucid’s dominant mechanic is revenue expansion without cost absorption, leaving growth paired with persistent cash consumption and tighter financing capacity.
Revenue expansion rose from$808M in FY2024 to$1.35B in FY2025. Operating cash flow moved from-$2.02B to-$2.93B , so higher sales were accompanied by greater cash consumption rather than internal funding.
Revenue nearly doubled from
Long-term debt was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Lucid Group 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.
Lucid Group Inc's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 11/100.
Lucid Group Inc's revenue surged 67.6% year-over-year to $1.4B, reflecting rapid business expansion. This strong growth earns a score of 94/100.
Lucid Group Inc has elevated debt relative to equity (D/E of 2.85), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.
Lucid Group Inc's current ratio of 1.25 indicates adequate short-term liquidity, earning a score of 31/100. The company can meet its near-term obligations, though with limited headroom.
Lucid Group Inc's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
Lucid Group Inc posts a -376.1% return on equity (ROE), meaning it loses $376 for every $100 of shareholders' equity. This results in a returns score of 26/100. This is down from -70.1% the prior year.
Lucid Group Inc scores -3.59, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.8B) relative to total liabilities ($7.7B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lucid Group Inc passes 3 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Lucid Group Inc reported a net loss of $2.7B while operations used $2.9B of cash. With neither figure positive, the ratio between the two carries no quality signal.
Lucid Group Inc reported an operating loss of $3.5B against $95.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Lucid Group Inc generated $1.4B in revenue in fiscal year 2025. This represents an increase of 67.6% from the prior year.
Lucid Group Inc's EBITDA was -$3.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 11.9% from the prior year.
Lucid Group Inc reported -$2.7B in net income in fiscal year 2025. This represents an increase of 0.6% from the prior year.
Cash & Balance Sheet
Lucid Group Inc recorded an outflow of $3.8B in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 30.9% from the prior year.
Lucid Group Inc held $997.8M in cash against $2.0B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Lucid Group Inc's gross margin was -92.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Lucid Group Inc's ROE was -376.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 306.1 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Lucid Group Inc invested $1.2B in research and development in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Lucid Group Inc invested $868.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.8% from the prior year.
Not reported for fiscal year 2025.
LCID Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $405.3M+43.5% | $282.5M-46.0% | $522.7M+55.3% | $336.6M+29.7% | $259.4M+10.4% | $235.0M+0.2% | $234.5M+17.2% | $200.0M |
| Cost of Revenue | $832.1M+40.0% | $594.2M-37.1% | $944.6M+40.9% | $670.2M+26.0% | $531.8M+14.7% | $463.6M+4.6% | $443.2M+7.4% | $412.5M |
| Gross Profit | -$426.7M-36.9% | -$311.7M+26.1% | -$421.9M-26.5% | -$333.6M-22.5% | -$272.4M-19.2% | -$228.5M-9.5% | -$208.8M+1.8% | -$212.5M |
| R&D Expenses | $321.3M-4.3% | $335.7M-7.0% | $361.0M+11.0% | $325.3M+18.8% | $273.8M+9.0% | $251.2M-10.4% | $280.3M-13.6% | $324.4M |
| SG&A Expenses | $300.4M-1.2% | $304.2M+7.9% | $281.8M-0.4% | $283.1M+10.2% | $256.9M+21.1% | $212.2M-13.0% | $243.9M+4.4% | $233.6M |
| Operating Income | -$1.1B-9.4% | -$989.5M+7.1% | -$1.1B-13.0% | -$942.0M-17.3% | -$803.0M-16.1% | -$691.9M+5.6% | -$733.0M+4.9% | -$770.5M |
| Interest Expense | $47.8M+16.4% | $41.1M+21.2% | $33.9M+32.6% | $25.6M+7.7% | $23.7M+99.9% | $11.9M+15.7% | $10.3M+21.1% | $8.5M |
| Income Tax | $1.1M+493.2% | $177K-90.0% | $1.8M+585.4% | -$363K+84.7% | -$2.4M-73.8% | -$1.4M-331.4% | $589K+20.9% | $487K |
| Net Income | -$1.0B-0.6% | -$1.0B-26.3% | -$814.0M+16.8% | -$978.4M-81.4% | -$539.4M-47.3% | -$366.2M+7.8% | -$397.2M+60.0% | -$992.5M |
| EPS (Diluted) | -$3.30+4.6% | -$3.46+3.6% | -$3.59-8.5% | -$3.31 | -$2.80-16.2% | -$2.41 | -$0.20 | -$4.09 |
LCID Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.7B+2.9% | $7.5B-10.8% | $8.4B-4.9% | $8.8B-0.5% | $8.9B-3.8% | $9.2B-4.5% | $9.6B+13.6% | $8.5B |
| Current Assets | $2.8B+0.7% | $2.8B-16.5% | $3.3B-13.2% | $3.8B-3.8% | $4.0B-10.7% | $4.4B-9.2% | $4.9B+14.8% | $4.2B |
| Cash & Equivalents | $732.6M+4.6% | $700.4M-29.8% | $997.8M-39.0% | $1.6B-8.9% | $1.8B-3.2% | $1.9B+15.4% | $1.6B-15.1% | $1.9B |
| Inventory | $1.4B-6.1% | $1.5B+32.4% | $1.1B+13.1% | $981.1M+37.5% | $713.3M+51.3% | $471.4M+15.6% | $407.8M-19.5% | $506.8M |
| Accounts Receivable | $223.1M+70.0% | $131.2M-25.9% | $177.2M+28.7% | $137.6M+9.9% | $125.3M+38.7% | $90.3M-19.4% | $112.0M+14.0% | $98.2M |
| Total Liabilities | $8.8B+11.8% | $7.8B+2.1% | $7.7B+9.2% | $7.0B+8.7% | $6.5B+47.9% | $4.4B-2.4% | $4.5B-5.7% | $4.7B |
| Current Liabilities | $2.4B-9.5% | $2.7B+2.2% | $2.6B+25.2% | $2.1B+37.2% | $1.5B+15.2% | $1.3B+14.3% | $1.2B+1.7% | $1.1B |
| Long-Term Debt | $2.5B+24.4% | $2.0B+0.1% | $2.0B+0.3% | $2.0B+0.1% | $2.0B+1.8% | $2.0B+0.1% | $2.0B+0.1% | $2.0B |
| Total Equity | -$1.1B-201.1% | -$351.4M-149.0% | $717.3M-60.2% | $1.8B-25.2% | $2.4B-24.4% | $3.2B-17.8% | $3.9B+44.3% | $2.7B |
| Retained Earnings | -$17.7B-6.2% | -$16.6B-6.6% | -$15.6B-5.5% | -$14.8B-7.1% | -$13.8B-4.1% | -$13.3B-2.8% | -$12.9B-3.2% | -$12.5B |
Not reported in any period shown, so not listed: Goodwill.
LCID Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.2B-3.1% | -$1.2B-29.4% | -$916.4M-21.1% | -$756.6M+8.9% | -$830.2M-93.7% | -$428.6M+19.6% | -$533.1M-15.2% | -$462.8M |
| Capital Expenditures | $253.8M+0.3% | $253.2M-22.2% | $325.4M+63.7% | $198.8M+8.8% | $182.7M+13.3% | $161.2M-44.7% | $291.6M+82.6% | $159.7M |
| Free Cash Flow | -$1.5B-2.6% | -$1.4B-15.9% | -$1.2B-30.0% | -$955.5M+5.7% | -$1.0B-71.7% | -$589.9M+28.5% | -$824.8M-32.5% | -$622.5M |
| Investing Cash Flow | -$282.3M-132.3% | $875.2M+1133.1% | -$84.7M-133.2% | $255.1M-63.2% | $694.0M+13.0% | $614.0M+138.8% | -$1.6B-658.4% | $283.7M |
| Financing Cash Flow | $1.5B+4281.6% | $35.3M-90.5% | $369.6M-1.7% | $376.1M+376.3% | $78.9M+25.8% | $62.7M-96.6% | $1.8B+154.6% | $719.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LCID Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -105.3% | -110.3% | -80.7%+18.4pp | -99.1% | -105.0% | -97.2%-8.2pp | -89.0% | -106.2% |
| Operating Margin | -267.0% | -350.3% | -203.7% | -279.9% | -309.5% | -294.4% | -312.6% | -385.2% |
| Net Margin | -255.3% | -364.1% | -155.7% | -290.7% | -207.9% | -155.8% | -169.4% | -496.1% |
| Return on Equity | N/A | N/A | -113.5%-59.1pp | -54.4%-31.9pp | -22.4%-10.9pp | -11.5%-1.2pp | -10.3%+26.7pp | -37.0% |
| Return on Assets | -13.4%+0.3pp | -13.7%-4.0pp | -9.7%+1.4pp | -11.1%-5.0pp | -6.1%-2.1pp | -4.0%+0.2pp | -4.1%+7.6pp | -11.7% |
| Current Ratio | 1.14+0.1x | 1.02-0.2x | 1.25-0.6x | 1.81-0.8x | 2.58-0.7x | 3.32-0.9x | 4.18+0.5x | 3.71 |
| Debt-to-Equity | N/A | N/A | 2.85+1.7x | 1.13+0.3x | 0.85+0.2x | 0.63+0.1x | 0.52-0.2x | 0.75 |
| FCF Margin | -364.2% | -509.4% | -237.6% | -283.9% | -390.4% | -251.0% | -351.8% | -311.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Lucid Group Inc Ranks
Frequently Asked Questions
What is Lucid Group Inc's annual revenue?
Lucid Group Inc (LCID) reported $1.4B in total revenue for fiscal year 2025. This represents a 67.6% 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 Lucid Group Inc's revenue growing?
Lucid Group Inc (LCID) revenue grew by 67.6% year-over-year, from $807.8M to $1.4B in fiscal year 2025.
Is Lucid Group Inc profitable?
No, Lucid Group Inc (LCID) reported a net income of -$2.7B in fiscal year 2025.
What is Lucid Group Inc's EBITDA?
Lucid Group Inc (LCID) had EBITDA of -$3.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lucid Group Inc have?
As of fiscal year 2025, Lucid Group Inc (LCID) had $997.8M in cash and equivalents against $2.0B in long-term debt.
What is Lucid Group Inc's gross margin?
Lucid Group Inc (LCID) had a gross margin of -92.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lucid Group Inc's return on equity (ROE)?
Lucid Group Inc (LCID) has a return on equity of -376.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lucid Group Inc's free cash flow?
Lucid Group Inc (LCID) recorded an outflow of $3.8B in free cash flow during fiscal year 2025. This represents a -30.9% 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 Lucid Group Inc's operating cash flow?
Lucid Group Inc (LCID) recorded an outflow of $2.9B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Lucid Group Inc's total assets?
Lucid Group Inc (LCID) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lucid Group Inc's capital expenditures?
Lucid Group Inc (LCID) invested $868.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lucid Group Inc spend on research and development?
Lucid Group Inc (LCID) invested $1.2B in research and development during fiscal year 2025.
What is Lucid Group Inc's current ratio?
Lucid Group Inc (LCID) had a current ratio of 1.25 as of fiscal year 2025, which is considered adequate.
What is Lucid Group Inc's debt-to-equity ratio?
Lucid Group Inc (LCID) had a debt-to-equity ratio of 2.85 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lucid Group Inc's return on assets (ROA)?
Lucid Group Inc (LCID) had a return on assets of -32.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Lucid Group Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Lucid Group Inc (LCID) held $2.1B in cash, cash equivalents and investments, and reported an operating cash outflow of $2.9B over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Lucid Group Inc's Altman Z-Score?
Lucid Group Inc (LCID) has an Altman Z-Score of -3.59, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lucid Group Inc's Piotroski F-Score?
Lucid Group Inc (LCID) has a Piotroski F-Score of 3 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 Lucid Group Inc's earnings high quality?
Lucid Group Inc (LCID) reported a net loss of $2.7B while operations used $2.9B of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Lucid Group Inc cover its interest payments?
Lucid Group Inc (LCID) reported an operating loss of $3.5B against $95.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Lucid Group Inc?
Lucid Group Inc (LCID) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.