NIO
NIO Inc. American depositary shares each representing oneStock · Industrials$4.36-0.45%
as of Aug 27, 3:10 PM ET
☾ AH — —
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.
As-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 | 12.5B+38.9% | 9.01B+15.0% | 7.83B+9.7% | 7.14B+26.0% | 5.67B+127.6% | |
| 1.70B+91.6% | 890M+106.9% | 430M-42.4% | 746M-30.3% | 1.07B+272.8% | ||
| Cost of revenue | 10.8B+33.2% | 8.12B+9.6% | 7.40B+15.7% | 6.40B+39.1% | 4.60B+108.7% | |
| 3.71B-4.5% | 3.89B+7.3% | 3.62B+20.2% | 3.01B+69.7% | 1.78B+78.8% | ||
| Research & development | 1.52B-15.1% | 1.79B-5.6% | 1.89B+20.4% | 1.57B+118.0% | 721M+89.0% | |
| Selling, general & administrative | 2.30B+6.7% | 2.16B+18.8% | 1.81B+18.8% | 1.53B+41.5% | 1.08B+79.1% | |
| Provision for credit losses | -6.68M-1196.5% | -515K+86.1% | -3.71M-152.5% | 7.06M-17.2% | 8.53M+476.1% | |
| Operating income | -2.01B+33.0% | -3.00B+6.1% | -3.19B-40.7% | -2.27B-221.4% | -706M+0.1% | |
| Interest expense | 127M+15.7% | 109M+92.4% | 56.8M+17.6% | 48.3M-51.7% | 100M+53.2% | |
| Other non-operating income | 64.5M+579.6% | -13.4M-161.5% | 21.9M+153.3% | -41.0M-241.6% | 29.0M+151.8% | |
| Equity-method income | -156M-126.6% | -68.9M-860.1% | 9.07M-83.4% | 54.8M+458.4% | 9.81M+196.9% | |
| Gain (loss) on equity securities | — | 46.7M | — | — | — | |
| Pre-tax income | -2.12B+31.0% | -3.07B-6.6% | -2.88B-38.2% | -2.09B-234.3% | -624M+23.2% | |
| Income tax | 17.4M+657.5% | -3.13M-108.5% | 36.7M+359.9% | 7.99M+20.5% | 6.63M+579.5% | |
| -2.14B+30.4% | -3.07B-5.2% | -2.92B-39.4% | -2.09B-232.1% | -630M+22.5% | ||
| Net income to non-controlling interest | 2.60M+120.8% | -12.5M-171.8% | 17.5M+176.7% | -22.8M-364.7% | -4.90M-544.6% | |
| Net income to common | -2.23B+28.3% | -3.10B-4.2% | -2.98B-41.1% | -2.11B-27.2% | -1.66B-92.9% | |
| -$0.98+35.1% | -$1.51+13.7% | -$1.75-35.7% | -$1.29-22.9% | -$1.05-52.9% | ||
| EPS (basic) | -$0.98+35.1% | -$1.51+13.7% | -$1.75-35.7% | -$1.29-22.9% | -$1.05-52.9% | |
| 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 | |
| 11.0B+29.3% | 8.48B-14.5% | 9.91B+15.6% | 8.58B-14.1% | 9.99B+41.0% | ||
| Cash & equivalents | 1.61B-39.1% | 2.65B-42.9% | 4.64B+60.9% | 2.88B+19.8% | 2.41B-59.1% | |
| Short-term investments | 2.83B+45.9% | 1.94B-18.2% | 2.37B-14.8% | 2.78B-52.2% | 5.82B+860.4% | |
| Accounts receivable | 199M-13.2% | 230M-65.0% | 656M-11.6% | 742M+67.5% | 443M+157.2% | |
| Inventory | 1.22B+25.6% | 971M+30.6% | 743M-37.4% | 1.19B+268.0% | 323M+94.7% | |
| Prepaid expenses | 694M+39.4% | 498M+2.9% | 484M+48.5% | 326M+11.9% | 291M+33.5% | |
| Other current assets | 47.5M+95.8% | 24.2M | — | — | — | |
| 17.8B+20.7% | 14.7B-10.8% | 16.5B+18.5% | 14.0B+7.3% | 13.0B+55.3% | ||
| Property, plant & equipment | 3.69B+4.1% | 3.55B+1.4% | 3.50B+54.1% | 2.27B+95.5% | 1.16B+51.6% | |
| Operating lease right-of-use | 1.67B-4.5% | 1.75B+9.1% | 1.61B+50.2% | 1.07B+128.0% | 469M+126.6% | |
| Intangible assets | 4.24M+4.4% | 4.06M-2.7% | 4.18M | — | — | |
| Long-term investments | 355M-17.2% | 428M-44.6% | 773M-16.1% | 922M+92.0% | 480M+943.8% | |
| Other non-current assets | 1.06B+117.2% | 490M-28.8% | 688M-35.9% | 1.07B+22.1% | 879M+267.1% | |
| Total non-current assets | 6.83B+9.1% | 6.26B-5.4% | 6.62B+23.0% | 5.38B+78.2% | 3.02B+133.6% | |
| 11.2B+31.6% | 8.54B+4.9% | 8.14B+22.5% | 6.65B+45.1% | 4.58B+113.9% | ||
| Accounts payable | — | — | 1.99B+7.9% | 1.84B | — | |
| Accrued liabilities | 2.39B+8.6% | 2.20B+0.3% | 2.19B+10.7% | 1.98B+75.2% | 1.13B+60.2% | |
| Short-term & current debt | 93.8M-79.8% | 465M-30.2% | 667M+271.7% | 179M-44.7% | 325M+456.4% | |
| Current lease liability | 309M+16.1% | 267M+8.6% | 246M+65.1% | 149M+27.3% | 117M+39.3% | |
| Other current liabilities | 89.5M+59.6% | 56.1M-29.1% | 79.1M+41.9% | 55.8M | — | |
| Finance lease liability (current) | 37.6M+1934.5% | 1.85M | — | — | 4.37M-14.3% | |
| 16.0B+23.9% | 12.9B+4.3% | 12.4B+24.3% | 9.95B+41.5% | 7.03B+101.5% | ||
| Long-term debt | 1.23B-21.3% | 1.57B-14.7% | 1.84B+16.4% | 1.58B+3.3% | 1.53B+67.9% | |
| Non-current lease liability | 1.44B-6.5% | 1.54B+8.8% | 1.42B+50.1% | 945M+159.9% | 364M+133.7% | |
| Operating lease liability (total) | 1.75B-3.2% | 1.81B+8.7% | 1.66B+52.2% | 1.09B+127.5% | 481M+100.6% | |
| Finance lease liability (total) | 719M+10695.9% | 6.66M | — | — | 9.34M-31.1% | |
| Finance lease liability | 682M+14060.9% | 4.82M+54.2% | 3.12M | — | 4.97M-41.2% | |
| Deferred tax liabilities | 16.1M-7.7% | 17.5M-41.6% | 29.9M-5.5% | 31.6M+700.1% | 3.95M | |
| Other non-current liabilities | — | — | 939M+25.8% | 746M+34.2% | 556M+96.0% | |
| Total non-current liabilities | 4.74B+8.8% | 4.35B+3.1% | 4.22B+28.0% | 3.30B+34.6% | 2.45B+81.7% | |
| 595M-27.2% | 817M-77.3% | 3.60B+4.0% | 3.46B-36.5% | 5.45B+30.8% | ||
| Additional paid-in capital | 18.8B+15.8% | 16.3B-1.9% | 16.6B+20.9% | 13.7B-5.5% | 14.5B+20.0% | |
| Retained earnings | -18.3B-18.2% | -15.5B-21.2% | -12.8B-26.1% | -10.1B-16.1% | -8.73B-10.3% | |
| Treasury stock | 17.7M-46.0% | 32.8M-87.4% | 261M-2.9% | 268M-7.6% | 290M | |
| Accumulated other comprehensive income | 82.9M+3.9% | 79.8M+30.9% | 61.0M-59.4% | 150M+446.4% | -43.4M-332.2% | |
| Non-controlling interest | -2.68M-120.1% | 13.4M-49.9% | 26.7M-16.9% | 32.1M+170.4% | 11.9M+3540.5% | |
| Total equity incl. non-controlling | 592M-28.7% | 831M-77.1% | 3.62B+3.8% | 3.49B-36.0% | 5.46B+31.1% | |
| Total liabilities & equity | 17.8B+20.7% | 14.7B-10.8% | 16.5B+18.5% | 14.0B+7.3% | 13.0B+55.3% | |
| 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 | |
| 428M+139.8% | -1.08B-452.6% | -195M+65.3% | -561M-281.7% | 309M+3.2% | ||
| Depreciation & amortization | 1.02B+27.0% | 805M+69.2% | 476M+15.0% | 414M+54.3% | 268M+67.1% | |
| Share-based compensation | 256M-3.1% | 264M-20.8% | 334M+0.2% | 333M+110.0% | 159M+452.8% | |
| Deferred income taxes | -2.06M+82.6% | -11.8M-141.6% | 28.4M+2737.4% | -1.08M-137.1% | 2.90M | |
| Change in receivables | -42.6M+89.6% | -409M-540.6% | -63.9M-119.1% | 334M+23.9% | 270M+839.2% | |
| Change in inventory | 445M+82.1% | 245M+160.0% | -408M-145.0% | 907M+483.7% | 155M+412.7% | |
| Change in payables | — | — | 686M-59.4% | 1.69B+72.0% | 982M+96.8% | |
| -1.64B-141.2% | -679M+55.7% | -1.53B-201.8% | 1.51B+124.1% | -6.24B-702.9% | ||
| Capital expenditure | 867M-30.8% | 1.25B-38.0% | 2.02B+99.8% | 1.01B+58.0% | 640M+270.3% | |
| Free cash flow | -439M+81.1% | -2.33B-5.1% | -2.21B-40.9% | -1.57B-374.1% | -331M-362.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 16.2M-48.8% | 31.7M+208.2% | 10.3M+1860.0% | 525K+196.6% | 177K-99.3% | |
| 979M+303.1% | 243M-93.8% | 3.90B+1762.5% | -234M-108.2% | 2.84B-55.1% | ||
| Long-term debt issued | 792M-37.3% | 1.26B+11.9% | 1.13B+12.5% | 1.00B+4.6% | 959M+289.8% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 1.70B | 0.00-100.0% | 2.95B | 0.00-100.0% | 1.99B-62.5% | |
| 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 | -2.32M-110.5% | 22.1M+123.0% | 9.89M+156.0% | -17.7M+77.5% | -78.6M+24.8% | |
| Net change in cash | -234M+84.3% | -1.49B-168.4% | 2.18B+214.3% | 693M+121.9% | -3.17B-155.0% | |
| Interest paid | 126M+43.0% | 87.9M+118.7% | 40.2M+1.1% | 39.8M+15.8% | 34.3M-32.9% | |
| Income taxes paid | 20.6M+130.1% | 8.96M+76.7% | 5.07M-54.7% | 11.2M+1086.7% | 943K-53.3% | |
| 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×-0.4% | 1.0×-52.0% | 2.1×-25.3% | 2.8×-69.2% | 9.2×-69.2% | |
| P/B | 21.2×+90.2% | 11.2×+156.1% | 4.4×+48.1% | 2.9×-69.2% | 9.6×-46.5% | |
| 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.