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Nio
(NYSE:NIO)
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Rating:47Neutral
Price Target:
$4.50
▼(-34.11% Downside)
Action:Reiterated
Date:05/28/26
The score is weighed down primarily by weak financial fundamentals (ongoing losses, negative free cash flow, and materially higher leverage), with additional pressure from bearish technical signals. The earnings call provides a partial offset via strong YoY delivery/revenue growth, improved margins, and substantial cash, but near-term cost headwinds and investment needs keep risk elevated.
Positive Factors
Delivery and Demand Traction
Sustained, large YoY delivery gains indicate durable demand and improving product-market fit in premium and family segments. High delivery growth supports scale economies in procurement and production, enabling margin improvement and stronger aftermarket revenue potential over the next 2–6 months.
Negative Factors
Elevated Leverage
Sharp increase in leverage materially reduces financial flexibility and raises refinancing and interest-rate vulnerability. With a thinner equity cushion, downside scenarios or slower cash conversion could force costly capital raises or constrain investment, impairing strategic execution over coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Delivery and Demand Traction
Sustained, large YoY delivery gains indicate durable demand and improving product-market fit in premium and family segments. High delivery growth supports scale economies in procurement and production, enabling margin improvement and stronger aftermarket revenue potential over the next 2–6 months.
Read all positive factors
Nio Key Performance Indicators (KPIs)
Any
Vehicles Delivered
Shows the number of vehicles sold to customers, indicating market demand, production capacity, and sales performance. A key indicator of growth trajectory and competitive position in the electric vehicle market.
Shows the number of vehicles sold to customers, indicating market demand, production capacity, and sales performance. A key indicator of growth trajectory and competitive position in the electric vehicle market.
Data provided by:
The Fly
The FlyNio (NIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.11B
Dividend YieldN/A
Average Volume (3M)38.97M
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth51.42%
EPS Growth66.12%
CountryUS
Employees45,635
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-11.57
Shares Outstanding2,099,062,700
10 Day Avg. Volume29,851,476
30 Day Avg. Volume38,972,232
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)19.47
Price to Sales (P/S)0.95
P/FCF Ratio-26.38
Enterprise Value/Market Cap8.10
Enterprise Value/Revenue1.41
Enterprise Value/Gross Profit13.76
Enterprise Value/Ebitda-6.91
Forecast
1Y Price Target
$6.38Price Target Upside-6.66% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$136.39B
Nio Business Overview & Revenue Model
Company Description
NIO Inc., a company based in Shanghai, China, specializes in the design, development, production, and sale of intelligent electric vehicles. Their product range includes five and six-seater electric SUVs, alongside smart electric sedans. Beyond ma...
How the Company Makes Money
Nio primarily makes money by selling electric vehicles and related automotive offerings, with additional revenue from services and other business activities.
1) Vehicle sales (automotive revenue)
- The largest revenue stream is the sale of NIO-br...
Nio Earnings Call Summary
Earnings Call Date:May 21, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 09, 2026
Earnings Call Sentiment Positive
The call communicates strong year-over-year commercial and financial momentum (deliveries +98% YoY, revenues +112% YoY, improved margins, positive non-GAAP operating profit and cash flow, major product and tech milestones and continued network expansion). Offsetting risks include meaningful quarter-over-quarter revenue and delivery declines, material cost inflation (>RMB 10,000 per vehicle), a small reported net loss (RMB 0.3 billion), ongoing investments for battery-swap rollout, and reduced R&D spend YoY (management cites efficiency gains). Management expects to manage cost pressures via product mix, supply-chain work and stable pricing, and targets a full-year vehicle margin of ~17–18% and continued positive non-GAAP operating profit for 2026.Positive Updates
Strong YoY Delivery Growth
Total Q1 2026 deliveries of 83,465 vehicles, up 98.3% year-over-year; brand breakdown: NIO 58,543, ONVO 13,339, FIREFLY 11,583. April deliveries 29,356, up 22.8% year-over-year.
Negative Updates
Quarter-over-Quarter Revenue and Vehicle Sales Decline
Total revenues down 26.3% quarter-over-quarter; vehicle sales down 27.9% quarter-over-quarter, driven by fewer deliveries in the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong YoY Delivery Growth
Total Q1 2026 deliveries of 83,465 vehicles, up 98.3% year-over-year; brand breakdown: NIO 58,543, ONVO 13,339, FIREFLY 11,583. April deliveries 29,356, up 22.8% year-over-year.
Read all positive updates
Company Guidance
Management guided Q2 deliveries of 11,000–11,500 units (up 52.7%–59.6% YoY) and reiterated a full‑year vehicle margin target of about 17%–18% despite an estimated cost headwind of >RMB10,000 per vehicle starting Q2; the company targets positive non‑GAAP operating profit for 2026, plans non‑GAAP R&D run‑rate of ~RMB2.0–2.5 billion per quarter, expects SG&A to run around 10% of revenue (with Q2 seasonally higher due to product launches), aims for ~20% other‑sales margin for FY2026, will expand to >1,000 power swap stations this year, and finished Q1 with RMB48.2 billion in cash — all against a Q1 baseline of 83,465 deliveries (+98.3% YoY), RMB25.5 billion revenue (+112.2% YoY), vehicle sales of RMB22.8 billion (+129.2% YoY), overall gross margin 19%, vehicle margin 18.8% and other‑sales margin 20.6%.Nio Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
24
Negative
Cash Flow
31
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 69.42B | 85.10B | 65.73B | 55.62B | 49.27B | 36.14B |
| Gross Profit | 7.13B | 11.59B | 6.49B | 3.05B | 5.14B | 6.82B |
| EBITDA | -14.22B | -4.18B | -13.93B | -15.15B | -10.05B | -985.36M |
| Net Income | -24.31B | -14.55B | -22.66B | -21.15B | -14.56B | -10.57B |
Balance Sheet | ||||||
| Total Assets | 100.05B | 124.48B | 107.60B | 117.38B | 96.26B | 82.88B |
| Cash, Cash Equivalents and Short-Term Investments | 17.80B | 45.81B | 22.09B | 49.75B | 39.06B | 52.39B |
| Total Debt | 30.96B | 26.25B | 33.82B | 34.73B | 23.71B | 20.10B |
| Total Liabilities | 93.43B | 111.78B | 94.10B | 87.79B | 68.62B | 48.10B |
| Stockholders Equity | -1.21B | 4.16B | 5.97B | 25.55B | 23.87B | 34.71B |
Cash Flow | ||||||
| Free Cash Flow | -16.50B | -3.07B | -16.99B | -15.72B | -10.84B | -2.11B |
| Operating Cash Flow | -8.75B | 2.99B | -7.85B | -1.38B | -3.87B | 1.97B |
| Investing Cash Flow | -5.27B | -11.46B | -4.96B | -10.89B | 10.39B | -39.76B |
| Financing Cash Flow | 2.10B | 6.84B | 1.77B | 27.66B | -1.62B | 18.13B |
Nio Technical Analysis
Negative
6.83
Price Trends
5.62
Negative
5.61
Negative
5.77
Negative
Market Momentum
-0.21
Negative
36.87
Neutral
49.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NIO, the sentiment is Negative. The current price of 6.83 is above the 20-day moving average (MA) of 5.10, above the 50-day MA of 5.62, and above the 200-day MA of 5.77, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 36.87 is Neutral, neither overbought nor oversold. The STOCH value of 49.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NIO.
Nio Risk Analysis
Nio disclosed 122 risk factors in its most recent earnings report. Nio 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
Nio 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% | |
55 Neutral | $23.48B | -6.38 | -69.98% | ― | 10.43% | 21.58% | |
50 Neutral | $12.17B | -45.70 | -2.49% | ― | -23.38% | -123.25% | |
49 Neutral | $12.56B | ― | -7.56% | ― | 49.73% | 54.60% | |
48 Neutral | $2.37B | -0.47 | -193.02% | ― | 61.03% | -5.36% | |
47 Neutral | $12.11B | -8.17 | -328.93% | ― | 51.42% | 66.12% | |
42 Neutral | $7.11B | ― | 61.92% | ― | 74.15% | -29.12% |
* Consumer Cyclical Sector Average
NIO
Nio
4.79
1.38
40.47%
LI
Li Auto
12.02
-14.72
-55.05%
XPEV
XPeng, Inc. ADR
13.08
-4.83
-26.97%
LCID
Lucid Group
6.08
-15.02
-71.18%
VFS
VinFast Auto
3.07
-0.44
-12.54%
RIVN
Rivian Automotive
18.63
5.88
46.12%
Nio Corporate Events
NIO Posts Surging Q2 2026 Deliveries and Strengthens Premium EV Lineup
Jul 2, 2026
NIO reported strong operational momentum in June and the second quarter of 2026, delivering 40,597 vehicles in June, up 62.9% year-on-year, and 107,658 vehicles in the quarter, up 49.4%, with cumulative deliveries reaching 1,188,715 by June 30. Th...
NIO Posts Strong April Deliveries and Accelerates SUV Lineup Expansion
May 4, 2026
NIO reported that it delivered 29,356 vehicles in April 2026, a 22.8% year-on-year increase, taking 2026 year-to-date deliveries to 112,821, up 71% from a year earlier. The April tally included 19,024 NIO-branded premium models, 5,352 ONVO family ...
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.