NIO
$3.29+0.92%
as of close, Oct 27, 2026
☾ AH $3.29 +0.92%
NIO Inc. American depositary shares each representing oneStock · Consumer Discretionary
NIO financial statements
The full income statement, balance sheet, and cash-flow statement for NIO Inc. American depositary shares each representing one (NIO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2017-12 23.9M2018-12 1.05B2019-12 1.06B2020-12 1.53B2021-12 1.64B2022-12 1.66B2023-12 2.06B2024-12 2.09B2025-12 2.47B+10274.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 12.2B+33.3% | 9.14B+16.2% | 7.86B+7.4% | 7.32B+30.7% | 5.60B+137.8% | |
| 1.66B+83.8% | 902M+109.3% | 431M-43.6% | 764M-27.7% | 1.06B+289.5% | ||
| Cost of revenue | 10.5B+27.7% | 8.23B+10.8% | 7.43B+13.3% | 6.56B+44.3% | 4.54B+118.0% | |
| 3.61B-8.4% | 3.94B+8.5% | 3.63B+17.6% | 3.09B+76.0% | 1.75B+86.8% | ||
| Research & development | 1.48B-18.6% | 1.81B-4.5% | 1.90B+17.9% | 1.61B+126.2% | 712M+97.5% | |
| Selling, general & administrative | 2.24B+2.3% | 2.19B+20.2% | 1.82B+16.3% | 1.57B+46.8% | 1.07B+87.1% | |
| Provision for credit losses | -6.50M-1143.1% | -523K+85.9% | -3.72M-151.4% | 7.24M-14.1% | 8.42M+502.1% | |
| Operating income | -1.95B+35.7% | -3.04B+5.0% | -3.20B-37.7% | -2.32B-233.4% | -697M-4.4% | |
| Interest expense | 123M+11.0% | 111M+94.6% | 57.0M+15.2% | 49.5M-49.9% | 98.8M+60.1% | |
| Other non-operating income | 62.8M+560.1% | -13.6M-162.2% | 21.9M+152.2% | -42.0M-246.8% | 28.6M+154.1% | |
| Equity-method income | -152M-117.3% | -69.9M-868.6% | 9.10M-83.8% | 56.1M+479.2% | 9.69M+201.3% | |
| Gain (loss) on equity securities | — | 46.7M | — | — | — | |
| Pre-tax income | -2.06B+33.8% | -3.12B-7.8% | -2.89B-35.3% | -2.14B-246.8% | -616M+19.7% | |
| Income tax | 17.0M+634.9% | -3.17M-108.6% | 36.9M+350.1% | 8.19M+25.0% | 6.55M+610.0% | |
| -2.08B+33.2% | -3.11B-6.3% | -2.93B-36.5% | -2.15B-244.5% | -623M+19.0% | ||
| Net income to non-controlling interest | 2.54M+119.9% | -12.7M-172.6% | 17.5M+175.1% | -23.3M-382.0% | -4.84M-573.1% | |
| Net income to common | -2.17B+31.2% | -3.15B-5.4% | -2.99B-38.1% | -2.16B-32.0% | -1.64B-101.6% | |
| -$0.95+37.8% | -$1.53+12.8% | -$1.76-33.1% | -$1.32-26.8% | -$1.04-51.7% | ||
| EPS (basic) | -$0.95+37.8% | -$1.53+12.8% | -$1.76-33.1% | -$1.32-26.8% | -$1.04-51.7% | |
| Weighted-avg shares (basic) | 2.27B+10.6% | 2.05B+20.8% | 1.70B+3.9% | 1.64B+4.1% | 1.57B+33.0% | |
| Weighted-avg shares (diluted) | 2.27B+10.6% | 2.05B+20.8% | 1.70B+3.9% | 1.64B+4.1% | 1.57B+33.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 10.9B+29.1% | 8.48B-14.5% | 9.91B+15.6% | 8.57B-14.4% | 10.0B+41.5% | ||
| Cash & equivalents | 1.61B-39.2% | 2.65B-42.9% | 4.64B+60.9% | 2.88B+19.4% | 2.41B-59.0% | |
| Short-term investments | 2.82B+45.7% | 1.94B-18.2% | 2.37B-14.8% | 2.78B-52.4% | 5.83B+863.5% | |
| Accounts receivable | 199M-13.3% | 230M-65.0% | 656M-11.6% | 742M+68.5% | 440M+155.7% | |
| Inventory | 1.22B+25.5% | 971M+30.6% | 743M-37.4% | 1.19B+266.8% | 324M+95.3% | |
| Prepaid expenses | 693M+39.3% | 498M+2.9% | 484M+48.6% | 326M+11.8% | 291M+33.6% | |
| Other current assets | 47.4M+95.6% | 24.2M | — | — | — | |
| 17.8B+20.5% | 14.7B-10.8% | 16.5B+18.5% | 14.0B+6.9% | 13.0B+55.8% | ||
| Property, plant & equipment | 3.69B+4.0% | 3.55B+1.4% | 3.50B+54.2% | 2.27B+94.9% | 1.16B+52.1% | |
| Operating lease right-of-use | 1.67B-4.6% | 1.75B+9.2% | 1.61B+50.3% | 1.07B+127.2% | 470M+127.3% | |
| Intangible assets | 4.23M+4.3% | 4.06M-2.7% | 4.18M | — | — | |
| Long-term investments | 354M-17.3% | 428M-44.6% | 773M-16.1% | 921M+91.3% | 482M+947.1% | |
| Other non-current assets | 1.06B+116.9% | 490M-28.8% | 688M-35.9% | 1.07B+22.8% | 874M+265.0% | |
| Total non-current assets | 6.82B+8.9% | 6.26B-5.4% | 6.62B+23.0% | 5.38B+77.6% | 3.03B+134.3% | |
| 11.2B+31.5% | 8.54B+4.9% | 8.14B+22.5% | 6.65B+44.6% | 4.60B+114.6% | ||
| Accounts payable | — | — | 1.99B+7.9% | 1.84B | — | |
| Accrued liabilities | 2.38B+8.5% | 2.20B+0.3% | 2.19B+10.7% | 1.98B+74.6% | 1.13B+60.7% | |
| Short-term & current debt | 93.7M-79.9% | 466M-30.2% | 667M+271.7% | 179M-44.9% | 326M+458.2% | |
| Current lease liability | 309M+15.9% | 267M+8.6% | 246M+65.1% | 149M+26.9% | 117M+39.8% | |
| Other current liabilities | 89.4M+59.4% | 56.1M-29.1% | 79.1M+41.9% | 55.8M | — | |
| Finance lease liability (current) | 37.6M+1932.9% | 1.85M | — | — | 4.38M-14.0% | |
| 16.0B+23.8% | 12.9B+4.3% | 12.4B+24.3% | 9.95B+41.0% | 7.06B+102.1% | ||
| Long-term debt | 1.23B-21.4% | 1.57B-14.7% | 1.84B+16.4% | 1.58B+2.9% | 1.53B+68.5% | |
| Non-current lease liability | 1.44B-6.6% | 1.54B+8.8% | 1.42B+50.1% | 945M+159.0% | 365M+134.4% | |
| Operating lease liability (total) | 1.75B-3.3% | 1.81B+8.7% | 1.66B+52.2% | 1.09B+126.9% | 482M+101.3% | |
| Finance lease liability (total) | 719M+10687.5% | 6.66M | — | — | 9.36M-30.9% | |
| Finance lease liability | 681M+14049.9% | 4.82M+54.2% | 3.12M | — | 4.98M-41.0% | |
| Deferred tax liabilities | 16.1M-7.8% | 17.5M-41.6% | 29.9M-5.4% | 31.6M+697.3% | 3.97M | |
| Other non-current liabilities | — | — | 939M+25.9% | 746M+33.8% | 557M+96.6% | |
| Total non-current liabilities | 4.73B+8.6% | 4.36B+3.1% | 4.22B+28.0% | 3.30B+34.2% | 2.46B+82.3% | |
| 594M-27.3% | 818M-77.3% | 3.60B+4.0% | 3.46B-36.7% | 5.46B+31.2% | ||
| Additional paid-in capital | 18.8B+15.7% | 16.3B-1.9% | 16.6B+20.9% | 13.7B-5.8% | 14.6B+20.4% | |
| Retained earnings | -18.3B-18.1% | -15.5B-21.2% | -12.8B-26.1% | -10.1B-15.7% | -8.76B-10.6% | |
| Treasury stock | 17.7M-46.0% | 32.8M-87.4% | 261M-2.8% | 268M-7.9% | 291M | |
| Accumulated other comprehensive income | 82.8M+3.7% | 79.8M+30.9% | 61.0M-59.4% | 150M+445.3% | -43.5M-333.6% | |
| Non-controlling interest | -2.68M-120.1% | 13.4M-49.9% | 26.7M-16.9% | 32.1M+169.5% | 11.9M+3556.1% | |
| Total equity incl. non-controlling | 591M-28.8% | 831M-77.1% | 3.62B+3.8% | 3.49B-36.2% | 5.48B+31.5% | |
| Total liabilities & equity | 17.8B+20.5% | 14.7B-10.8% | 16.5B+18.5% | 14.0B+6.9% | 13.0B+55.8% | |
| Common shares issued | 2.48B+18.2% | 2.09B+1.0% | 2.07B+23.4% | 1.68B+1.1% | 1.66B+8.7% | |
| Common shares outstanding | 2.47B+18.3% | 2.09B+1.8% | 2.06B+23.7% | 1.66B+1.1% | 1.64B+7.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 416M+138.2% | -1.09B-458.8% | -195M+66.0% | -574M-288.4% | 305M+7.8% | ||
| Depreciation & amortization | 995M+21.8% | 817M+71.1% | 477M+12.6% | 424M+60.1% | 265M+74.6% | |
| Share-based compensation | 249M-7.0% | 268M-19.9% | 335M-1.9% | 341M+117.8% | 157M+477.6% | |
| Deferred income taxes | -2.06M+82.6% | -11.8M-141.6% | 28.4M+2736.9% | -1.08M-137.1% | 2.90M | |
| Change in receivables | -41.5M+90.0% | -415M-547.8% | -64.1M-118.7% | 342M+28.5% | 266M+872.3% | |
| Change in inventory | 434M+74.7% | 248M+160.7% | -409M-144.0% | 930M+505.5% | 154M+435.6% | |
| Change in payables | — | — | 688M-60.2% | 1.73B+78.4% | 971M+105.7% | |
| -1.59B-131.4% | -689M+55.2% | -1.54B-199.7% | 1.54B+125.0% | -6.16B-738.9% | ||
| Capital expenditure | 844M-33.6% | 1.27B-37.3% | 2.03B+95.6% | 1.04B+63.8% | 632M+286.9% | |
| Free cash flow | -428M+81.9% | -2.36B-6.3% | -2.22B-37.9% | -1.61B-391.8% | -327M-374.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 15.8M-50.9% | 32.2M+211.7% | 10.3M+1818.3% | 538K+208.3% | 175K-99.3% | |
| 952M+286.6% | 246M-93.7% | 3.91B+1727.5% | -240M-108.5% | 2.81B-53.1% | ||
| Long-term debt issued | 771M-39.8% | 1.28B+13.1% | 1.13B+10.2% | 1.03B+8.5% | 948M+307.3% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 1.65B | 0.00-100.0% | 2.96B | 0.00-100.0% | 1.97B-60.8% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | -2.26M-110.1% | 22.4M+125.5% | 9.93M+154.8% | -18.1M+76.7% | -77.7M+21.4% | |
| Net change in cash | -228M+84.9% | -1.51B-169.2% | 2.19B+207.6% | 710M+122.7% | -3.13B-157.5% | |
| Interest paid | 122M+37.2% | 89.2M+121.2% | 40.3M-1.0% | 40.8M+20.2% | 33.9M-29.9% | |
| Income taxes paid | 20.1M+120.7% | 9.08M+78.7% | 5.08M-55.7% | 11.5M+1131.5% | 931K-51.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 12.6B+38.4% | 9.12B-39.5% | 15.1B-5.9% | 16.0B-69.2% | 52.1B-30.0% | |
| P/S | 1.0×+3.8% | 1.0×-51.5% | 2.1×-28.0% | 2.9×-69.2% | 9.3×-70.6% | |
| P/B | 21.2×+90.4% | 11.2×+156.0% | 4.4×+48.6% | 2.9×-69.2% | 9.5×-46.7% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: NIO’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NIO filings on SEC EDGAR → Not investment advice.