(NIO) Nio - NYSE
Sector: Consumer Cyclical | Industry: Auto Manufacturers | Exchange: NYSE (USA) | Market Cap: 14.408m USD | Total Return: 36% in 12m
Avg Turnover: 210M
Qual. Beats: 1
Rev. Trend: 95.2%
Qual. Beats: 0
Warnings
Share dilution 18.5% YoY
High Debt/EBITDA (5.9) with thin interest coverage (-9.7)
High Debt while negative Cash Flow
Interest Coverage Ratio -9.7 is critical
Altman Z'' -3.72 < 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: -9.02b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 14.87 > 1.0 |
| NWC/Revenue: 0.73% < 20% (prev -14.30%; Δ 15.03% < -1%) |
| CFO/TA 0.02 > 3% & CFO 2.99b > Net Income -9.02b |
| Net Debt (6.69b) to EBITDA (1.14b): 5.87 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.48b) vs 12m ago 18.50% < -2% |
| Gross Margin: 15.69% > 18% (prev 10.20%; Δ 5.49% > 0.5%) |
| Asset Turnover: 89.60% > 50% (prev 69.13%; Δ 20.47% > 0%) |
| Interest Coverage Ratio: -9.67 > 6 (EBIT TTM -8.24b / Interest Expense TTM 852.0m) |
| A: 0.01 (Total Current Assets 79.3b - Total Current Liabilities 78.6b) / Total Assets 126b |
| B: -1.01 (Retained Earnings -128b / Total Assets 126b) |
| C: -0.07 (EBIT TTM -8.24b / Avg Total Assets 112b) |
| D: 0.04 (Book Value of Equity 4.34b / Total Liabilities 112b) |
| Altman-Z'' = -3.72 = D |
| DSRI: 1.12 (Receivables 17.5b/10.6b, Revenue 101b/67.9b) |
| GMI: 0.65 (GM 10.20% / 15.69%) |
| AQI: 0.96 (AQ_t 0.08 / AQ_t-1 0.08) |
| SGI: 1.48 (Revenue 101b / 67.9b) |
| TATA: -0.10 (NI -9.02b - CFO 2.99b) / TA 126b) |
| Beneish M = -2.93 (Cap -4..+1) = A |
As of June 11, 2026, the stock is trading at USD 5.18 with a total of 24,810,524 shares traded.
Over the past week, the price has changed by -9.91%,
over one month by -14.66%,
over three months by -9.12% and
over the past year by +35.96%.
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 | 7 | 34.2% |
Market Cap CNY = 97.5b (14.4b USD * 6.7657 USD.CNY)
P/E Forward = 384.6154
P/S = 0.1427
P/B = 23.3611
Revenue TTM = 101b CNY
EBIT TTM = -8.24b CNY
EBITDA TTM = 1.14b CNY
Long Term Debt = 8.39b CNY (from longTermDebt, last quarter)
Short Term Debt = 8.46b CNY (from shortTermDebt, last quarter)
Debt = 38.5b CNY (from shortLongTermDebtTotal, last quarter) + Leases 11.9b
Net Debt = 6.69b CNY (calculated: Debt 38.5b - CCE 31.8b)
Enterprise Value = 104b CNY (97.5b + Debt 38.5b - CCE 31.8b)
Interest Coverage Ratio = -9.67 (Ebit TTM -8.24b / Interest Expense TTM 852.0m)
EV/FCF = -33.90x (Enterprise Value 104b / FCF TTM -3.07b)
FCF Yield = -2.95% (FCF TTM -3.07b / Enterprise Value 104b)
FCF Margin = -3.06% (FCF TTM -3.07b / Revenue TTM 101b)
Net Margin = -8.97% (Net Income TTM -9.02b / Revenue TTM 101b)
Gross Margin = 15.69% ((Revenue TTM 101b - Cost of Revenue TTM 84.7b) / Revenue TTM)
Gross Margin QoQ = 19.03% (prev 17.53%)
Tobins Q-Ratio = 0.83 (Enterprise Value 104b / Total Assets 126b)
Interest Expense / Debt = 2.22% (Interest Expense 852.0m / Debt 38.5b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -6.51b (EBIT -8.24b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.01 (Total Current Assets 79.3b / Total Current Liabilities 78.6b)
Debt / Equity = 8.86 (Debt 38.5b / totalStockholderEquity, last quarter 4.34b)
Debt / EBITDA = 5.87 (Net Debt 6.69b / EBITDA 1.14b)
Debt / FCF = -2.18 (negative FCF - burning cash) (Net Debt 6.69b / FCF TTM -3.07b)
Total Stockholder Equity = 2.74b (last 4 quarters mean from totalStockholderEquity)
RoA = -8.04% (Net Income -9.02b / Total Assets 126b)
RoE = -328.9% (Net Income TTM -9.02b / Total Stockholder Equity 2.74b)
RoCE = -73.99% (EBIT -8.24b / Capital Employed (Equity 2.74b + L.T.Debt 8.39b))
RoIC = -12.75% (negative operating profit) (NOPAT -6.51b / Invested Capital 51.0b)
WACC = 6.96% (E(97.5b)/V(136b) * Re(9.01%) + D(38.5b)/V(136b) * Rd(2.22%) * (1-Tc(0.21)))
Discount Rate = 9.01% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 16.45%
[DCF] Fair Price = unknown (Cash Flow -3.07b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.97 | # QB: 1
Revenue Correlation: 95.16 | Revenue CAGR: 24.18% | SUE: -0.01 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.24 | Chg30d=+23.26% | Revisions=+25% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.16 | Chg30d=+211.97% | Revisions=+43% | Analysts=3
EPS current Year (2026-12-31): EPS=0.34 | Chg30d=+122.03% | Revisions=+50% | GrowthEPS=+106.1% | GrowthRev=+56.7%
EPS next Year (2027-12-31): EPS=0.92 | Chg30d=+780.77% | Revisions=+40% | GrowthEPS=+173.8% | GrowthRev=+14.3%
[Analyst] Revisions Ratio: +50%