Li Auto Inc.
LI, LAAOF · Motor Vehicles & Passenger Car Bodies · EDGAR filings ↗
Grade
B70Scaled, cash-rich Chinese EV maker that stayed marginally net-profitable but suffered a sharp revenue and margin setback.
Strengths
- Fortress balance sheet: ~$63.7B cash (90th pct), debt/equity 0.05, current 1.81 / quick 1.68 (87th pct)
- Still net-income positive with healthy gross margin (18.7%, 64th pct) and a large installed base
Risks
- Revenue fell -22% (11th pct) and swung to an operating loss with negative operating cash flow
- China VIE structure and HFCAA/regulatory and tariff overhang
Notable findings
- Strong balance sheetStrong balance sheet — $9.1B cash & investments
Quarterly revenue
Last 2 quarters · from SEC filings.
Key metrics
Gross margin
18.7%
Operating margin
-0.5%
Net margin
1.0%
Return on equity
1.6%
Return on assets
0.7%
ROIC
-0.5%
Revenue growth (QoQ)
57.5%
Net-income growth
-85.2%
Debt / equity
0.0×
Net debt / EBITDA
-14.7×
Current ratio
1.8×
EBITDA
$588M
Tangible book value
$10.2B
Cash & investments
$9.1B
Stock comp / revenue
1.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-10 | 2025-12-31 | 0001104659-26-041705 ↗ |
| 20-F | 2025-04-10 | 2024-12-31 | 0001410578-25-000678 ↗ |
| 20-F | 2024-04-12 | 2023-12-31 | 0001104659-24-046495 ↗ |
| 20-F | 2023-04-21 | 2022-12-31 | 0001104659-23-047986 ↗ |
| 20-F | 2022-04-19 | 2021-12-31 | 0001104659-22-047043 ↗ |
| 20-F | 2021-03-10 | 2020-12-31 | 0001104659-21-034154 ↗ |