Lucid Group, Inc. (LCID) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LCID SEC filings page.
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).
Revenue is scaling, but production economics and financing needs remain central constraints on Lucid’s business model.
From FY2024 to FY2025, revenue rose67.6% while operating cash flow reached-$2.9B , worse than FY2024. Free cash flow reached-$3.8B , indicating that scale-up still required more cash rather than improving conversion.
Gross margin improved from
The balance sheet became more dependent on liabilities: debt-to-equity rose to 2.9x in FY2025 from 0.5x in FY2024. Current ratio fell to 1.3x, while reported liquidity represented 8.8 months of the latest annual operating outflow, leaving less short-term cushion than earlier periods.
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 9/100.
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 95/100.
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 23/100, 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 1/100.
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 24/100. This is down from -70.1% the prior year.
Lucid Group, Inc. scores -3.63, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.2B) 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 $405.3M in revenue in Q2 2026. This represents an increase of 56.2% from the same quarter a year earlier. Against the prior quarter it is up 43.5%.
Lucid Group, Inc.'s EBITDA was -$960.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 38.7% from the same quarter a year earlier. Against the prior quarter it is down 10.0%.
Lucid Group, Inc. reported -$1.0B in net income in Q2 2026. This represents a decrease of 91.8% from the same quarter a year earlier. Against the prior quarter it is down 0.6%.
Lucid Group, Inc. earned -$3.30 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 4.6%.
Cash & Balance Sheet
Lucid Group, Inc. recorded an outflow of $1.5B in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 45.7% from the same quarter a year earlier. Against the prior quarter it is down 2.6%.
Lucid Group, Inc. held $732.6M in cash against $2.5B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Lucid Group, Inc. invested $321.3M in research and development in Q2 2026. This represents an increase of 17.3% from the same quarter a year earlier. Against the prior quarter it is down 4.3%.
Lucid Group, Inc. invested $253.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 39.0% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.
Not reported for Q2 2026.
LCID Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $405.3M+56.2% | $282.5M+20.2% | $522.7M+122.9% | $336.6M+68.3% | $259.4M+29.3% | $235.0M+36.1% | $234.5M+49.2% | $200.0M+45.2% |
| Cost of Revenue | $832.1M+56.5% | $594.2M+28.2% | $944.6M+113.1% | $670.2M+62.5% | $531.8M+13.1% | $463.6M+14.5% | $443.2M+8.1% | $412.5M-12.2% |
| Gross Profit | -$426.7M-56.7% | -$311.7M-36.4% | -$421.9M-102.1% | -$333.6M-57.0% | -$272.4M-1.0% | -$228.5M+1.5% | -$208.8M+17.4% | -$212.5M+36.0% |
| R&D Expenses | $321.3M+17.3% | $335.7M+33.6% | $361.0M+28.8% | $325.3M+0.3% | $273.8M-4.6% | $251.2M-11.7% | $280.3M+15.4% | $324.4M+40.6% |
| SG&A Expenses | $300.4M+17.0% | $304.2M+43.4% | $281.8M+15.6% | $283.1M+21.2% | $256.9M+22.2% | $212.2M-0.5% | $243.9M+1.2% | $233.6M+23.1% |
| Operating Income | -$1.1B-34.8% | -$989.5M-43.0% | -$1.1B-45.3% | -$942.0M-22.3% | -$803.0M-2.0% | -$691.9M+5.2% | -$733.0M+0.5% | -$770.5M-2.3% |
| EBITDA | -$960.0M-38.7% | -$873.1M-47.0% | -$942.8M-46.8% | -$821.9M-17.2% | -$691.9M+4.1% | -$593.9M+10.2% | -$642.1M | -$701.0M |
| Interest Expense | $47.8M+101.3% | $41.1M+245.6% | $33.9M+230.0% | $25.6M+201.6% | $23.7M+255.9% | $11.9M+58.4% | $10.3M+32.1% | $8.5M+153.8% |
| Income Tax | $1.1M+144.3% | $177K+113.0% | $1.8M+199.2% | -$363K-174.5% | -$2.4M-3544.6% | -$1.4M-825.0% | $589K+4107.1% | $487K+64.5% |
| Net Income | -$1.0B-91.8% | -$1.0B-180.8% | -$814.0M-104.9% | -$978.4M+1.4% | -$539.4M+16.2% | -$366.2M+46.2% | -$397.2M+39.2% | -$992.5M-57.3% |
| EPS (Basic) | -$3.30-36.4% | -$3.46-43.6% | -$3.66-1730.0% | -$3.31+19.1% | -$2.42-611.8% | -$2.41-703.3% | -$0.20+28.6% | -$4.09-1360.7% |
| EPS (Diluted) | -$3.30 | -$3.46 | -$3.59 | -$3.31 | -$2.80 | -$2.41 | -$0.20+28.6% | -$4.09 |
| Diluted Shares (Avg) | 382M | 328M | N/A | 312M | 306M | 304M | N/A | 232M |
LCID Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.7B-13.2% | $7.5B-18.8% | $8.4B-13.1% | $8.8B+3.9% | $8.9B+7.9% | $9.2B+3.6% | $9.6B+13.3% | $8.5B-5.1% |
| Current Assets | $2.8B-29.7% | $2.8B-37.7% | $3.3B-32.3% | $3.8B-10.5% | $4.0B-1.3% | $4.4B-8.5% | $4.9B+2.5% | $4.2B-21.2% |
| Cash & Equivalents | $732.6M-59.2% | $700.4M-62.2% | $997.8M-37.9% | $1.6B-13.7% | $1.8B+32.7% | $1.9B-14.5% | $1.6B+17.3% | $1.9B+62.6% |
| Short-Term Investments | $28.7M-97.2% | $0-100.0% | $631.1M-74.0% | $701.9M-55.5% | $1.0B-44.7% | $1.8B-3.8% | $2.4B-2.6% | $1.6B-51.6% |
| Inventory | $1.4B+93.3% | $1.5B+211.6% | $1.1B+172.1% | $981.1M+93.6% | $713.3M+39.9% | $471.4M-16.7% | $407.8M-41.4% | $506.8M-36.6% |
| Accounts Receivable | $223.1M+78.1% | $131.2M+45.3% | $177.2M+58.1% | $137.6M+40.1% | $125.3M+23.6% | $90.3M-28.8% | $112.0M+116.2% | $98.2M+320.4% |
| Long-Term Investments | $14.2M-98.2% | $13.6M-98.5% | $512.2M-51.2% | $656.2M+18.1% | $776.7M+12.9% | $921.6M+46.8% | $1.1B+127.8% | $555.5M+15.8% |
| Total Liabilities | $8.8B+35.5% | $7.8B+79.3% | $7.7B+71.4% | $7.0B+48.0% | $6.5B+59.3% | $4.4B+5.0% | $4.5B+22.2% | $4.7B+34.2% |
| Current Liabilities | $2.4B+58.9% | $2.7B+102.4% | $2.6B+126.2% | $2.1B+83.7% | $1.5B+51.7% | $1.3B+28.4% | $1.2B+15.6% | $1.1B+10.4% |
| Non-Current Liabilities | $6.3B+28.2% | $5.1B+69.2% | $5.0B+52.1% | $4.9B+36.6% | $4.9B+61.8% | $3.0B-2.7% | $3.3B+24.8% | $3.6B+44.1% |
| Long-Term Debt | $2.5B+24.9% | $2.0B+2.2% | $2.0B+2.2% | $2.0B+2.0% | $2.0B+2.0% | $2.0B+0.3% | $2.0B+0.3% | $2.0B+0.3% |
| Total Equity | -$1.1B-143.9% | -$351.4M-111.0% | $717.3M-81.5% | $1.8B-32.9% | $2.4B-31.5% | $3.2B-24.8% | $3.9B-20.2% | $2.7B-50.4% |
| Retained Earnings | -$17.7B-27.9% | -$16.6B-25.3% | -$15.6B-20.9% | -$14.8B-18.2% | -$13.8B-19.9% | -$13.3B-22.1% | -$12.9B-26.6% | -$12.5B-31.1% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.2B-47.2% | -$1.2B-176.6% | -$916.4M-71.9% | -$756.6M-63.5% | -$830.2M-63.8% | -$428.6M+17.1% | -$533.1M-12.3% | -$462.8M+9.9% |
| Depreciation & Amortization | $122.2M+10.0% | $116.4M+18.8% | $122.1M+34.5% | $120.1M+72.8% | $111.1M+67.8% | $98.0M+42.4% | $90.8M | $69.5M |
| Stock-Based Compensation | $46.6M-17.2% | $61.0M+121.8% | N/A | $115.1M+30.6% | $56.3M-1.2% | $27.5M-56.8% | N/A | $88.1M+29.1% |
| Capital Expenditures | $253.8M+39.0% | $253.2M+57.0% | $325.4M+11.6% | $198.8M+24.5% | $182.7M-22.0% | $161.2M-18.6% | $291.6M+7.0% | $159.7M-17.0% |
| Free Cash Flow | -$1.5B-45.7% | -$1.4B-143.9% | -$1.2B-50.6% | -$955.5M-53.5% | -$1.0B-36.6% | -$589.9M+17.5% | -$824.8M-10.4% | -$622.5M+11.8% |
| Investing Cash Flow | -$282.3M-140.7% | $875.2M+42.5% | -$84.7M+94.7% | $255.1M-10.1% | $694.0M+322.9% | $614.0M+93.4% | -$1.6B-343.0% | $283.7M+125.1% |
| Financing Cash Flow | $1.5B+1858.1% | $35.3M-43.8% | $369.6M-79.8% | $376.1M-47.7% | $78.9M+3240.9% | $62.7M-93.7% | $1.8B+6448.7% | $719.1M+1949.7% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -105.3% | -110.3% | -80.7%+8.3pp | -99.1% | -105.0% | -97.2% | -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%-103.2pp | -54.4%-17.4pp | -22.4%-4.1pp | -11.5%+4.6pp | -10.3%+3.2pp | -37.0%-25.3pp |
| Return on Assets | -13.4%-7.4pp | -13.7%-9.8pp | -9.7%-5.6pp | -11.1%+0.6pp | -6.1%+1.7pp | -4.0%+3.7pp | -4.1%+3.6pp | -11.7%-4.6pp |
| Current Ratio | 1.14-1.4x | 1.02-2.3x | 1.25-2.9x | 1.81-1.9x | 2.58-1.4x | 3.32-1.3x | 4.18-0.5x | 3.71-1.5x |
| Debt-to-Equity | N/A | N/A | 2.85+2.3x | 1.13+0.4x | 0.85+0.3x | 0.63+0.2x | 0.52+0.1x | 0.75+0.4x |
| Asset Turnover | 0.050.0x | 0.040.0x | 0.060.0x | 0.040.0x | 0.030.0x | 0.030.0x | 0.020.0x | 0.020.0x |
| 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Lucid Group, Inc. LCID | FY2025 | $1.4B | -$2.7B | N/A | $1.2B | 31/100 |
| VinFast Auto Ltd. VFS | FY2025 | $3.4B | -$4.0B | N/A | $7.3B | 22/100 |
| Polestar Automotive Holding UK PLC PSNYW | FY2024 | $2.0B | -$2.0B | N/A | $632.5M | 14/100 |
| Polestar Automotive Holding UK PLC PSNY | FY2025 | $3.1B | -$2.4B | -77.1% | $640.7M | 25/100 |
| NIO Inc. NIO | FY2025 | $12.5B | -$2.1B | -17.1% | $8.6B | 32/100 |
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.
What is Lucid Group, Inc.'s P/E ratio?
Lucid Group, Inc. (LCID) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.2B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Lucid Group, Inc.'s price-to-sales ratio?
Lucid Group, Inc. (LCID) trades at 0.8x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.2B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
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 -3.63, 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.