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Lucid Group
(NASDAQ:LCID)
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Rating:48Neutral
Price Target:
$8.00
▲(26.98% Upside)
Action:Reiterated
Date:07/29/26
LCID scores low primarily due to very weak financial performance (deep losses, negative gross profit, and heavy cash burn) and limited valuation support (negative P/E). Offsetting factors include improving near-term technical trend versus key short/mid-term moving averages and a mixed earnings update where strengthened liquidity and program progress are counterbalanced by severely negative margins, large losses, and suspended guidance.
Positive Factors
Strengthened Liquidity
Substantial post-quarter capital raises and draws (approximately $1.05B and pro forma liquidity of ~$4.7B) materially reduce near-term refinancing pressure, giving management runway to execute production ramps, cost saves and product validations without immediate cash constraints.
Negative Factors
Severely Negative Gross Margins
A gross margin of -110.4% indicates products and production are currently loss-making after fixed-cost absorption and impairments, reflecting deep structural cost and pricing mismatches that must be corrected to reach sustainable profitability even if revenue scales.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened Liquidity
Substantial post-quarter capital raises and draws (approximately $1.05B and pro forma liquidity of ~$4.7B) materially reduce near-term refinancing pressure, giving management runway to execute production ramps, cost saves and product validations without immediate cash constraints.
Read all positive factors
Lucid Group Key Performance Indicators (KPIs)
Any
Vehicle Deliveries
Tracks the number of vehicles delivered to customers, indicating production efficiency, demand fulfillment, and revenue generation potential.
Tracks the number of vehicles delivered to customers, indicating production efficiency, demand fulfillment, and revenue generation potential.
Data provided by:
The Fly
The FlyLucid Group (LCID) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.11B
Dividend YieldN/A
Average Volume (3M)21.56M
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth61.03%
EPS Growth-5.36%
CountryUS
Employees9,000
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-12.81
Shares Outstanding390,256,800
10 Day Avg. Volume38,215,502
30 Day Avg. Volume21,558,151
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)4.59
Price to Sales (P/S)2.43
P/FCF Ratio-0.86
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$8.88Price Target Upside40.87% Upside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)-8.82
Revenue Forecast (FY)$1.95B
Lucid Group Business Overview & Revenue Model
Company Description
Lucid Group, Inc. (LCID) is an automotive and technology company focused on designing, engineering, and manufacturing luxury electric vehicles (EVs). The company’s core products include the Lucid Air sedan and the Lucid Gravity SUV, along with rel...
How the Company Makes Money
Lucid primarily makes money by selling electric vehicles to customers, which is recorded as automotive sales revenue. This includes revenue from the vehicle itself and, where applicable, customer-selected options and features sold as part of the v...
Lucid Group Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong strategic and financial de-risking actions (expanded Uber partnership, successful $1.05B capital raise, pro forma liquidity of ~$4.7B, production growth, Midsize program progress, and robotaxi milestones) contrasted with severe short-term operational and financial challenges (very negative gross margin of -110.4%, ~ $1.0B net loss, elevated inventory and impairments, a temporary stop sale and suspended guidance). Management emphasized cost reduction, disciplined capital allocation, and execution focus under new leadership, but near-term execution and profitability remain uncertain.Positive Updates
Expanded Uber Robotaxi Partnership
Expanded commitment to at least 35,000 robotaxis (up from 20,000) and increased Uber's investment to $500 million (from $300 million), improving long-term revenue visibility for the robotaxi program.
Negative Updates
Severely Negative Gross Margin
Reported gross margin of negative 110.4% in Q1 (vs negative 80.7% in Q4 2025 and negative 97.2% in Q1 2025), driven by lower delivery volume against fixed costs, underabsorption, and the absence of prior-quarter regulatory credit revenue.
Read all updates
Q1-2026 Updates
Positive
Negative
Expanded Uber Robotaxi Partnership
Expanded commitment to at least 35,000 robotaxis (up from 20,000) and increased Uber's investment to $500 million (from $300 million), improving long-term revenue visibility for the robotaxi program.
Read all positive updates
Company Guidance
Management suspended prior 2026 guidance pending the incoming CEO’s review and will provide a full updated outlook at the Q2 call, while reaffirming program timelines and key metrics: Q1 production was 5,500 units (↑149% YoY) with 3,093 deliveries and revenue of $282M (≈+20% YoY); gross margin was -110.4% (vs -80.7% in Q4), operating expenses ≈$678M (R&D $336M; SG&A $304M), net loss ≈$1.0B, and >$200M of inventory impairments in Q1; cash was ~$700M with total liquidity ≈$3.2B at quarter end (pro forma ~$4.7B after subsequent $200M Uber equity, $300M registered offering and $550M PIF convertible preferred and an amended DDTL with ≈$2.0B available following a $500M April draw); inventory stood at ~$1.47B; unit-cost reduction of ~50–60% over the coming years and $500M of expected headcount-driven savings over three years remain targets; product timing reiterated: Midsize (M2) production ramp in 2027 with pricing expected below $50k, robotaxi commercial launch targeted late 2026 (75 engineering vehicles delivered; production-validation builds due Q3; regular robotaxi production early Q4), and seasonally back‑loaded deliveries expected (Q2 strongest).Lucid Group Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
9
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40B | 1.35B | 807.83M | 595.27M | 608.18M | 27.11M |
| Gross Profit | -1.34B | -1.26B | -923.11M | -1.34B | -1.04B | -127.79M |
| EBITDA | -2.77B | -2.15B | -2.38B | -2.57B | -1.07B | -2.50B |
| Net Income | -3.36B | -2.70B | -2.71B | -2.83B | -1.30B | -2.58B |
Balance Sheet | ||||||
| Total Assets | 7.48B | 8.39B | 9.65B | 8.51B | 7.88B | 7.88B |
| Cash, Cash Equivalents and Short-Term Investments | 738.89M | 997.83M | 4.03B | 3.86B | 3.91B | 6.26B |
| Total Debt | 3.17B | 860.53M | 2.48B | 2.43B | 2.35B | 2.21B |
| Total Liabilities | 5.45B | 7.67B | 5.78B | 3.66B | 3.53B | 3.97B |
| Stockholders Equity | 2.04B | 717.29M | 3.87B | 4.85B | 4.35B | 3.91B |
Cash Flow | ||||||
| Free Cash Flow | -4.68B | -3.83B | -2.90B | -3.40B | -3.30B | -1.48B |
| Operating Cash Flow | -3.72B | -2.96B | -2.02B | -2.49B | -2.23B | -1.06B |
| Investing Cash Flow | 1.74B | 1.48B | -1.29B | -946.98M | -3.68B | -420.69M |
| Financing Cash Flow | 887.20M | 915.16M | 3.55B | 3.07B | 1.35B | 7.14B |
Lucid Group Technical Analysis
Positive
6.30
Price Trends
6.01
Positive
7.08
Positive
10.05
Negative
Market Momentum
0.24
Negative
51.20
Neutral
76.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LCID, the sentiment is Positive. The current price of 6.3 is below the 20-day moving average (MA) of 6.51, above the 50-day MA of 6.01, and below the 200-day MA of 10.05, indicating a neutral trend. The MACD of 0.24 indicates Negative momentum. The RSI at 51.20 is Neutral, neither overbought nor oversold. The STOCH value of 76.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LCID.
Lucid Group Risk Analysis
Lucid Group disclosed 98 risk factors in its most recent earnings report. Lucid Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lucid Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $23.64B | -5.72 | -69.98% | ― | 10.43% | 21.58% | |
49 Neutral | $12.62B | -36.54 | -7.56% | ― | 49.73% | 54.60% | |
48 Neutral | $3.11B | -0.62 | -193.02% | ― | 61.03% | -5.36% | |
47 Neutral | $12.08B | -7.97 | -328.93% | ― | 51.42% | 66.12% | |
46 Neutral | $14.28B | -48.32 | -2.49% | ― | -23.38% | -123.25% | |
42 Neutral | $7.02B | -1.70 | 61.92% | ― | 74.15% | -29.12% |
* Consumer Cyclical Sector Average
LCID
Lucid Group
8.12
-16.08
-66.45%
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-0.17
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LI
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13.49
-11.75
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XPEV
XPeng, Inc. ADR
12.98
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VFS
VinFast Auto
3.10
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RIVN
Rivian Automotive
16.83
4.45
35.95%
Lucid Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Lucid Group Refutes Bankruptcy Rumors, Affirms Liquidity
Positive
Jul 15, 2026
Lucid Group, Inc. stated that recent rumors about its financial distress and board-level consideration of bankruptcy are completely false. The company said it has sufficient liquidity to fund operations well into next year, as reflected in its lat...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lucid Group strengthens liquidity with $800 million draw
Positive
Jul 6, 2026
On July 6, 2026, Lucid Group, Inc. drew $800 million under its Delayed Draw Term Loan facilities pursuant to an existing agreement with Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund. The funding infusio...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Appoints New CFO With Performance Incentives
Positive
Jul 2, 2026
On July 1, 2026, Lucid Group’s board appointed veteran automotive finance executive Alexander De Bock as incoming chief financial officer, succeeding current CFO Taoufiq Boussaid after a post‑Q2 2026 transition. De Bock brings nearly t...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Restructuring Plan and Leadership Changes Announced
Negative
Jun 22, 2026
On June 22, 2026, Lucid Group announced a restructuring plan aimed at accelerating its path to profitability and positive cash flow by streamlining its organizational structure, cutting operating expenses, and aligning production with anticipated ...
Business Operations and StrategyShareholder Meetings
Lucid Shareholders Approve Expanded 2021 Equity Incentive Plans
Neutral
Jun 5, 2026
At its Annual Meeting of Stockholders on June 4, 2026, Lucid Group, Inc. secured shareholder approval for its Amended and Restated 2021 Stock Incentive Plan, which also covers the updated 2021 Employee Stock Purchase Plan. As part of this approval...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Completes Leadership Transition, Appoints New CEO
Positive
Jun 1, 2026
On June 1, 2026, Lucid Group, Inc. announced that Silvio Napoli formally assumed the role of chief executive officer and principal executive officer, completing a planned leadership transition first signaled in April. Interim CEO Marc Winterhoff s...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lucid Group Raises Capital via Preferred Stock Placement
Positive
Apr 29, 2026
On April 28, 2026, Lucid Group closed a $550 million private placement with Ayar Third Investment Company through the sale of 55,000 shares of Series C Convertible Preferred Stock, following a subscription agreement signed on April 14, 2026. The p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.