(NIO) Nio - Overview
Sector: Consumer Cyclical | Industry: Auto Manufacturers | Exchange: NYSE (USA) | Market Cap: 13.142m USD | Total Return: 55.8% in 12m
Avg Turnover: 192M
Qual. Beats: 0
Rev. Trend: 93.3%
Qual. Beats: 1
Warnings
Share dilution 19.9% YoY
Interest Coverage Ratio -8.8 is critical
Altman Z'' -5.11 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
Idiosyncratic Leader, Confidence
NIO Inc. is a Chinese automotive manufacturer specializing in the design and production of premium smart electric vehicles, including SUVs and sedans. The company operates a vertically integrated business model that encompasses the manufacturing of electric powertrains and battery packs alongside a proprietary suite of energy solutions.
A primary differentiator for NIO is its Battery as a Service (BaaS) model, which utilizes automated Power Swap stations to replace depleted batteries in minutes, addressing consumer concerns regarding charging times and battery degradation. This infrastructure-heavy approach competes within the global electric vehicle sector, where manufacturers are increasingly prioritizing proprietary charging networks to build brand loyalty.
Beyond vehicle sales, the company generates revenue through a comprehensive service ecosystem including insurance, maintenance, and an online marketplace for value-added accessories. For a deeper look into these revenue streams and valuation metrics, consider reviewing the detailed financial breakdowns on ValueRay.
Headquartered in Shanghai, NIO maintains a global footprint with operations extending into European markets. The company’s strategy focuses on a high-touch user experience, integrating digital platforms and physical service centers to manage the entire vehicle lifecycle from delivery to secondary market auctions.
- Expansion of battery swapping infrastructure drives long-term recurring service revenue growth
- Intense price competition in Chinese EV market pressures vehicle delivery margins
- New sub-brand launches determine volume growth and market share expansion potential
- Geopolitical trade tensions and potential tariffs impact European market penetration strategy
- Government consumption subsidies and regional infrastructure spending influence domestic demand levels
| Net Income: -8.24b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 14.84 > 1.0 |
| NWC/Revenue: -1.79% < 20% (prev -14.30%; Δ 12.51% < -1%) |
| CFO/TA 0.02 > 3% & CFO 2.99b > Net Income -8.24b |
| Net Debt (-7.67b) to EBITDA (1.95b): -3.93 < 3 |
| Current Ratio: 0.98 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.51b) vs 12m ago 19.92% < -2% |
| Gross Margin: 15.49% > 18% (prev 0.10%; Δ 1.54k% > 0.5%) |
| Asset Turnover: 98.05% > 50% (prev 69.13%; Δ 28.92% > 0%) |
| Interest Coverage Ratio: -8.84 > 6 (EBITDA TTM 1.95b / Interest Expense TTM 839.9m) |
| A: -0.02 (Total Current Assets 76.7b - Total Current Liabilities 78.6b) / Total Assets 124b |
| B: -1.03 (Retained Earnings -128b / Total Assets 124b) |
| C: -0.07 (EBIT TTM -7.42b / Avg Total Assets 111b) |
| D: -1.15 (Book Value of Equity -128b / Total Liabilities 112b) |
| Altman-Z'' = -5.11 = D |
| DSRI: 1.03 (Receivables 17.5b/10.6b, Revenue 109b/67.9b) |
| GMI: 0.66 (GM 15.49% / 10.20%) |
| AQI: 0.98 (AQ_t 0.08 / AQ_t-1 0.08) |
| SGI: 1.61 (Revenue 109b / 67.9b) |
| TATA: -0.09 (NI -8.24b - CFO 2.99b) / TA 124b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of May 28, 2026, the stock is trading at USD 5.75 with a total of 91,827,253 shares traded.
Over the past week, the price has changed by +0.17%,
over one month by -7.70%,
over three months by +18.07% and
over the past year by +55.83%.
Nio has received a consensus analysts rating of 3.78. Therefore, it is recommended to hold NIO.
- StrongBuy: 9
- Buy: 5
- Hold: 11
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 6.7 | 17.2% |
Market Cap CNY = 89.1b (13.1b USD * 6.7791 USD.CNY)
P/E Forward = 384.6154
P/S = 0.1301
P/B = 22.035
Revenue TTM = 109b CNY
EBIT TTM = -7.42b CNY
EBITDA TTM = 1.95b CNY
Long Term Debt = 8.39b CNY (from longTermDebt, last quarter)
Short Term Debt = 7.52b CNY (from shortTermDebt, last quarter)
Debt = 38.1b CNY (from shortLongTermDebtTotal, last quarter) + Leases 11.9b
Net Debt = -7.67b CNY (calculated: Debt 38.1b - CCE 45.8b)
Enterprise Value = 81.4b CNY (89.1b + Debt 38.1b - CCE 45.8b)
Interest Coverage Ratio = -8.84 (Ebit TTM -7.42b / Interest Expense TTM 839.9m)
EV/FCF = -26.50x (Enterprise Value 81.4b / FCF TTM -3.07b)
FCF Yield = -3.77% (FCF TTM -3.07b / Enterprise Value 81.4b)
FCF Margin = -2.82% (FCF TTM -3.07b / Revenue TTM 109b)
Net Margin = -7.55% (Net Income TTM -8.24b / Revenue TTM 109b)
Gross Margin = 15.49% ((Revenue TTM 109b - Cost of Revenue TTM 92.2b) / Revenue TTM)
Gross Margin QoQ = 17.53% (prev 17.53%)
Tobins Q-Ratio = 0.65 (Enterprise Value 81.4b / Total Assets 124b)
Interest Expense / Debt = 2.20% (Interest Expense 839.9m / Debt 38.1b)
Taxrate = 5.76% (17.0m / 295.9m)
NOPAT = -7.00b (EBIT -7.42b * (1 - 5.76%)) [loss with tax shield]
Current Ratio = 0.98 (Total Current Assets 76.7b / Total Current Liabilities 78.6b)
Debt / Equity = 9.16 (Debt 38.1b / totalStockholderEquity, last quarter 4.16b)
Debt / EBITDA = -3.93 (Net Debt -7.67b / EBITDA 1.95b)
Debt / FCF = 2.49 (negative FCF - burning cash) (Net Debt -7.67b / FCF TTM -3.07b)
Total Stockholder Equity = 2.70b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.40% (Net Income -8.24b / Total Assets 124b)
RoE = -305.6% (Net Income TTM -8.24b / Total Stockholder Equity 2.70b)
RoCE = -66.96% (EBIT -7.42b / Capital Employed (Equity 2.70b + L.T.Debt 8.39b))
RoIC = -13.11% (negative operating profit) (NOPAT -7.00b / Invested Capital 53.4b)
WACC = 6.68% (E(89.1b)/V(127b) * Re(8.65%) + D(38.1b)/V(127b) * Rd(2.20%) * (1-Tc(0.06)))
Discount Rate = 8.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 98.88 | Cagr: 17.07%
[DCF] Fair Price = unknown (Cash Flow -3.07b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.77 | # QB: 0
Revenue Correlation: 93.31 | Revenue CAGR: 25.77% | SUE: 1.36 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.29 | Chg30d=+23.29% | Revisions=+20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=-0.13 | Chg30d=+38.00% | Revisions=+20% | Analysts=4
EPS current Year (2026-12-31): EPS=-1.50 | Chg30d=+13.44% | Revisions=+20% | GrowthEPS=+72.6% | GrowthRev=+49.3%
EPS next Year (2027-12-31): EPS=-0.16 | Chg30d=+48.79% | Revisions=+20% | GrowthEPS=+89.4% | GrowthRev=+17.4%
[Analyst] Revisions Ratio: +20%