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Li Auto
(NASDAQ:LI)
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Rating:50Neutral
Price Target:
$12.00
▼(-34.75% Downside)
Action:Reiterated
Date:06/08/26
The score is driven primarily by weakening recent financial performance and cash flow, reinforced by bearish technicals (price below key moving averages and negative momentum). The earnings call provides partial offset via delivery and margin recovery guidance plus strong liquidity and buybacks, but valuation support is limited with a negative P/E and no dividend data.
Positive Factors
Strong liquidity and capital return
A RMB 94.3bn cash buffer plus a committed USD1bn buyback provide durable financial flexibility over several quarters. This supports funding for R&D and model ramp-up, cushions operational volatility while buybacks signal management confidence and disciplined capital allocation amid temporary cash shortfalls.
Negative Factors
Recent revenue and profitability deterioration
Sustained declines in revenue and a return to operating and net losses indicate structural execution risk. This weakens internal funding for product rollouts and R&D, forces heavier reliance on cash reserves, and raises the burden for new-model ramps to restore prior profitability levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and capital return
A RMB 94.3bn cash buffer plus a committed USD1bn buyback provide durable financial flexibility over several quarters. This supports funding for R&D and model ramp-up, cushions operational volatility while buybacks signal management confidence and disciplined capital allocation amid temporary cash shortfalls.
Read all positive factors
Li Auto Key Performance Indicators (KPIs)
Any
Deliveries
Tracks the number of vehicles delivered to customers, indicating demand strength, production efficiency, and overall market penetration for Li Auto.
Tracks the number of vehicles delivered to customers, indicating demand strength, production efficiency, and overall market penetration for Li Auto.
Data provided by:
The Fly
The FlyLi Auto (LI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.89B
Dividend YieldN/A
Average Volume (3M)5.22M
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth-23.38%
EPS Growth-123.25%
CountryUS
Employees32,248
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)1.13
Shares Outstanding904,211,850
10 Day Avg. Volume3,786,862
30 Day Avg. Volume5,217,522
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)1.64
Price to Sales (P/S)1.09
P/FCF Ratio-9.31
Enterprise Value/Market Cap5.82
Enterprise Value/Revenue0.62
Enterprise Value/Gross Profit3.30
Enterprise Value/Ebitda11.33
Forecast
1Y Price Target
$16.09Price Target Upside-12.53% Downside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.33
Revenue Forecast (FY)$124.13B
Li Auto Business Overview & Revenue Model
Company Description
Li Auto Inc. is a prominent player in the rapidly expanding new energy vehicle market within the People's Republic of China. The company's operations span the entire lifecycle of high-end intelligent electric vehicles, from their initial design an...
How the Company Makes Money
Li Auto primarily makes money by selling vehicles. Its largest revenue stream is revenue from vehicle sales to customers, recognized when vehicles are delivered, and it includes the vehicle price and selected options/trim configurations. Beyond ve...
Li Auto Earnings Call Summary
Earnings Call Date:May 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 02, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: strong product and technology milestones (MAHE M100 chip, MindVLA model, successful Li L9 early orders, stabilized i6 volumes, solid cash balance and global expansion) support a positive medium-term outlook. However, Q1 financials showed material weakness with double-digit revenue declines, severe margin compression (gross profit down ~66% YoY), operating and net losses, and negative free cash flow, driven by product mix, model refresh timing and some supply constraints. Management expects margin improvement (target ~10% in Q2) and maintains a 20% full-year sales growth target, but near-term profitability and cash flow remain challenged until new models scale. Overall, the positives around technology, product demand and a strong cash position are balanced by significant near-term financial deterioration.Positive Updates
Product Launch and Strong Early Demand for Li L9
All-new Li L9 launched May 15 with deliveries from May 17; Li L9 Livis secured over 10,000 orders within two weeks with transaction prices above RMB 500,000; company expects >20% market share in the RMB 500,000+ NEV SUV segment and targets 20% share in the RMB 400,000-500,000 NEV SUV market for the Ultra variant.
Negative Updates
Significant Revenue Decline
Total Q1 revenues RMB 23.0 billion, down 11.4% year-over-year and down 20.1% quarter-over-quarter; vehicle sales RMB 21.5 billion, down 12.7% YoY and 21.0% QoQ.
Read all updates
Q1-2026 Updates
Positive
Negative
Product Launch and Strong Early Demand for Li L9
All-new Li L9 launched May 15 with deliveries from May 17; Li L9 Livis secured over 10,000 orders within two weeks with transaction prices above RMB 500,000; company expects >20% market share in the RMB 500,000+ NEV SUV segment and targets 20% share in the RMB 400,000-500,000 NEV SUV market for the Ultra variant.
Read all positive updates
Company Guidance
Li Auto guided Q2 deliveries of 95,000–100,000 vehicles and quarterly revenues of RMB 24.1–25.4 billion, with gross margin expected to recover to about 10% in Q2 and a full-year sales growth target of 20%. Management said the all‑new L9 Livis garnered over 10,000 orders in two weeks, expects ~8,000 L9 deliveries from mid‑May to end‑June, and long‑term monthly production capacity for L9/L8 of 4,000–5,000 units, targeting >20% share in the RMB ≥500,000 NEV SUV segment and 20% in the RMB 400k–500k SUV band. Q1 highlights: revenues RMB 23.0bn, vehicle sales RMB 21.5bn, gross profit RMB 1.8bn (gross margin 7.9%, vehicle margin 6.1%), operating loss RMB 3.0bn, net loss RMB 2.3bn (diluted ADS loss RMB 2.26), net cash used in ops RMB 6.1bn, free cash flow negative RMB 7.4bn, cash balance RMB 94.3bn, and an ongoing USD 1bn buyback (17.5m shares repurchased for USD 148.1m, including 7.3m ADS).Li Auto Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.25B | 144.52B | 123.83B | 46.08B | 26.66B |
| Gross Profit | 20.41B | 29.67B | 27.49B | 8.81B | 5.55B |
| EBITDA | 6.06B | 12.57B | 12.32B | -853.90M | 494.34M |
| Net Income | 1.09B | 8.04B | 11.70B | -2.05B | -317.29M |
Balance Sheet | |||||
| Total Assets | 154.30B | 162.35B | 143.47B | 86.54B | 61.85B |
| Cash, Cash Equivalents and Short-Term Investments | 101.02B | 112.81B | 103.26B | 56.51B | 47.52B |
| Total Debt | 17.81B | 16.34B | 13.55B | 12.26B | 7.84B |
| Total Liabilities | 81.16B | 91.03B | 82.89B | 41.35B | 20.78B |
| Stockholders Equity | 72.62B | 70.87B | 60.14B | 44.86B | 41.06B |
Cash Flow | |||||
| Free Cash Flow | -12.82B | 8.20B | 44.19B | 2.25B | 4.90B |
| Operating Cash Flow | -8.61B | 15.93B | 50.69B | 7.38B | 8.34B |
| Investing Cash Flow | -703.13M | -41.14B | -12.07M | -4.36B | -4.26B |
| Financing Cash Flow | 767.40M | -415.65M | 185.38M | 5.64B | 16.71B |
Li Auto Technical Analysis
Negative
18.39
Price Trends
16.14
Negative
17.07
Negative
18.54
Negative
Market Momentum
-1.12
Positive
25.98
Positive
4.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LI, the sentiment is Negative. The current price of 18.39 is above the 20-day moving average (MA) of 13.80, above the 50-day MA of 16.14, and below the 200-day MA of 18.54, indicating a bearish trend. The MACD of -1.12 indicates Positive momentum. The RSI at 25.98 is Positive, neither overbought nor oversold. The STOCH value of 4.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LI.
Li Auto Risk Analysis
Li Auto disclosed 110 risk factors in its most recent earnings report. Li Auto 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 3 New Risks
1.
We are a “controlled company” within the meaning of the Nasdaq Stock Market Rules and, as a result, may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. Q4, 2023
2.
We had net losses in the past, which may happen again in the future. Q4, 2023
3.
We may face challenges in expanding our business and operations internationally and our ability to conduct business in international markets may be adversely affected by legal, regulatory, political, and economic risks. Q4, 2023
Li Auto 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% | |
50 Neutral | $11.89B | -45.17 | -2.49% | ― | -23.38% | -123.25% | |
49 Neutral | $11.11B | -33.73 | -7.56% | ― | 49.73% | 54.60% | |
47 Neutral | $11.71B | -8.29 | -328.93% | ― | 51.42% | 66.12% | |
46 Neutral | $19.70B | -5.35 | -69.98% | ― | 10.43% | 21.58% | |
44 Neutral | $2.31B | -0.46 | -193.02% | ― | 61.03% | -5.36% | |
42 Neutral | $7.09B | -1.73 | 61.92% | ― | 74.15% | -29.12% |
* Consumer Cyclical Sector Average
LI
Li Auto
12.04
-15.07
-55.59%
NIO
Nio
4.86
1.43
41.69%
XPEV
XPeng, Inc. ADR
12.09
-5.79
-32.38%
LCID
Lucid Group
5.92
-15.18
-71.94%
VFS
VinFast Auto
3.03
-0.54
-15.13%
RIVN
Rivian Automotive
15.63
1.89
13.76%
Li Auto Corporate Events
Li Auto Details June 2026 Hong Kong Share Buybacks Under Repurchase Mandate
Jun 29, 2026
Li Auto reported a series of share repurchases in June 2026 through a U.S. SEC Form 6-K filing dated June 29, 2026, detailing changes in its issued and treasury shares for its Hong Kong–listed WVR A shares. On June 22, 2026, the company boug...
Li Auto Details June 2026 Share Repurchases Under Hong Kong Buyback Mandate
Jun 22, 2026
Li Auto reported in a June 22, 2026 filing to the U.S. Securities and Exchange Commission that it had executed a series of share repurchases on the Hong Kong Stock Exchange, as detailed in Next Day Disclosure Returns dated June 16–18, 2026. ...
Li Auto Shifts Management Incentives Toward Performance-Linked Options With June 2026 Grants
Jun 16, 2026
On June 15, 2026, Li Auto granted a total of 35 million stock options under its 2020 Plan to two directors, including director and CFO Tie Li and director and CEO Ma Donghui, as well as senior manager Xie Yan, representing about 1.62% of its issue...
Li Auto Details June Share Buybacks and Treasury Stock Movements in Hong Kong Filings
Jun 15, 2026
Li Auto Inc. reported a series of Hong Kong regulatory filings for June 2026 detailing movements in its share capital and treasury stock. The disclosures indicate the company is actively managing its equity structure in line with Hong Kong Stock E...
Li Auto Steps Up Hong Kong Share Buybacks Under May 2026 Repurchase Mandate
Jun 8, 2026
Li Auto reported a series of share repurchases on the Hong Kong Stock Exchange, disclosing a Next Day Disclosure Return for June 2, 2026, under its Form 6-K filing for June 2026. On June 2, 2026, the company repurchased 2,219,500 Class A WVR ordin...
Li Auto Details May 2026 Share Buybacks Under Existing Mandate
May 26, 2026
Li Auto disclosed a series of share repurchases in May 2026, highlighting ongoing capital management through treasury shares. On May 18, 2026, the company repurchased 1,440,844 Class A WVR ordinary shares on the Nasdaq Global Select Market at pric...
Li Auto Launches AI-Enhanced Flagship Li L9 SUV in China
May 15, 2026
Li Auto Inc., a major player in China’s premium smart EV market, focuses on extended-range electric vehicles alongside battery electric platforms, aiming to provide safe, convenient, and comfortable mobility solutions for families. Its curre...
Li Auto Sets May 28 Board Meeting to Approve First-Quarter 2026 Results
May 12, 2026
Li Auto announced on May 12, 2026, that its board will convene on May 28, 2026 to review and approve the unaudited financial results for the quarter ended March 31, 2026 and to arrange their publication. The company will also host an earnings conf...
Li Auto Reports May 2026 Share Repurchases Under Ongoing Buyback Mandate
May 11, 2026
Li Auto disclosed that on May 7, 2026 it repurchased 331,208 WVR A ordinary shares on the Nasdaq Global Select Market at prices between USD 8.815 and USD 8.99, for a total consideration of about USD 2.95 million, to be held as treasury shares rath...
Li Auto Reports Late-April 2026 Share Buybacks Under Ongoing Repurchase Mandate
May 7, 2026
Li Auto disclosed a series of share repurchases in late April 2026, detailing a Next Day Disclosure Return for April 24, when it bought back 385,766 Class A WVR ordinary shares on the Nasdaq Global Select Market at prices between USD 8.895 and USD...
Li Auto Posts April 2026 Deliveries and Debuts New Li L9 Livis in Beijing
May 1, 2026
Li Auto Inc., a major Chinese new energy vehicle maker focused on premium smart electric SUVs and MPVs, has built a nationwide footprint with hundreds of retail outlets, service centers, and more than four thousand super charging stations. The com...
Li Auto Tweaks Dual-Class Share Structure With April 24 Conversion
Apr 27, 2026
On April 24, 2026, Li Auto converted 711,481 Class B WVR ordinary shares into Class A WVR ordinary shares, slightly increasing its Hong Kong–listed Class A share count while reducing the unlisted Class B pool. Following the change, disclosed...
Li Auto Files 2025 ESG, Climate, and Hong Kong Annual Reports With U.S. SEC
Apr 10, 2026
Li Auto Inc. filed a Form 6-K with the U.S. Securities and Exchange Commission for April 2026, dated April 10, 2026, providing investors with key 2025 corporate reports. The submission includes its 2025 Environmental, Social and Governance Report,...
Li Auto Details March 2026 Share Movements, Buybacks and Incentive Plan Activity in Form 6-K
Apr 9, 2026
On April 9, 2026, Li Auto Inc. filed a Form 6-K with the U.S. Securities and Exchange Commission and a corresponding monthly return with the Hong Kong Stock Exchange detailing share capital movements for March 2026. The filing shows total authoris...
Li Auto Reports March 27 Share Buyback Under Ongoing Repurchase Mandate
Apr 8, 2026
Li Auto disclosed that on March 27, 2026 it repurchased 340,000 Class A WVR ordinary shares on the Nasdaq Global Select Market at prices between US$8.785 and US$8.945, for a total outlay of about US$3.02 million, and is holding all of these as tre...
Li Auto Reports Late-March 2026 Share Buybacks on Nasdaq and Hong Kong
Mar 30, 2026
Li Auto disclosed that it filed a Form 6-K with the U.S. Securities and Exchange Commission on March 30, 2026, detailing its routine submission of Hong Kong Next Day Disclosure Returns and recent changes in its issued and treasury share balances. ...
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.