Nio Inc (NIO)
NYSE:NIO
Want to see NIO full AI Analyst Report?
Top Page
Nio
(NYSE:NIO)
Select Model
Select Model
Rating:44Neutral
Price Target:
$5.50
▼(-19.47% Downside)
Action:Reiterated
Date:05/21/26
The score is held down primarily by weak financial fundamentals (ongoing losses, negative free cash flow, and elevated leverage) and bearish technicals (below key moving averages with negative MACD). The latest earnings call adds some support due to strong YoY growth, improved margins, and solid cash, but valuation remains demanding given profitability and cost-headwind risks.
Positive Factors
Delivery Momentum / Scale
Sustained, near-doubling year-on-year deliveries demonstrate durable demand and expanding market penetration across NIO/ONVO/FIREFLY brands. Growing volume supports operational scale, improves factory and supply-chain leverage, and helps dilute fixed costs, aiding margin sustainability over the next several quarters.
Negative Factors
Structural Losses Persist
Despite recent revenue and margin improvements, sustained negative EBIT and net margins show the company has not yet reached consistent profitability. Ongoing losses require continued financing or margin recovery; failure to convert scale into positive net margins would undermine long-term financial self-sufficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Delivery Momentum / Scale
Sustained, near-doubling year-on-year deliveries demonstrate durable demand and expanding market penetration across NIO/ONVO/FIREFLY brands. Growing volume supports operational scale, improves factory and supply-chain leverage, and helps dilute fixed costs, aiding margin sustainability over the next several quarters.
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
$13.57B
Dividend YieldN/A
Average Volume (3M)34.59M
Price to Earnings (P/E)―
Beta (1Y)0.81
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. Volume39,219,122
30 Day Avg. Volume34,588,393
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)19.47
Price to Sales (P/S)0.95
P/FCF Ratio-26.38
Enterprise Value/Market Cap7.45
Enterprise Value/Revenue1.46
Enterprise Value/Gross Profit14.16
Enterprise Value/Ebitda-4.39
Forecast
1Y Price Target
$6.23Price Target Upside-8.81% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.81
Revenue Forecast (FY)$134.75B
Nio Business Overview & Revenue Model
Company Description
NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five and six-seater electric SUVs, as well as smart electric sedans. The company also offers power solutions, including Power Home, a home charging sol...
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 | -22.99B | -14.37B | -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
6.07
Negative
5.48
Negative
5.82
Negative
Market Momentum
-0.15
Positive
32.99
Neutral
8.84
Positive
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 6.00, above the 50-day MA of 6.07, and above the 200-day MA of 5.82, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 32.99 is Neutral, neither overbought nor oversold. The STOCH value of 8.84 is Positive, 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% | |
53 Neutral | $14.78B | 44.76 | -3.77% | ― | 88.10% | 80.63% | |
52 Neutral | $16.22B | 4,652.09 | 1.55% | ― | -22.18% | -86.28% | |
46 Neutral | $17.83B | ― | -69.98% | ― | 10.43% | 21.58% | |
44 Neutral | $13.57B | ― | -328.93% | ― | 51.42% | 66.12% | |
44 Neutral | $2.28B | ― | -193.02% | ― | 61.03% | -5.36% | |
42 Neutral | $8.45B | ― | 57.07% | ― | 97.73% | -20.91% |
* Consumer Cyclical Sector Average
NIO
Nio
5.20
1.38
36.13%
LI
Li Auto
15.89
-13.02
-45.04%
XPEV
XPeng, Inc. ADR
15.59
-3.74
-19.35%
LCID
Lucid Group
5.84
-19.76
-77.19%
VFS
VinFast Auto
3.57
-0.09
-2.46%
RIVN
Rivian Automotive
14.22
-1.41
-9.02%
Nio Corporate Events
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 ...
Nio Swings to Profit as Q4 2025 Deliveries and Revenue Surge
Mar 10, 2026
Nio reported unaudited results on March 10, 2026 for the fourth quarter and full year ended December 31, 2025, highlighting a sharp acceleration in deliveries and revenue. Fourth-quarter vehicle deliveries surged 71.7% year-on-year to 124,807 unit...
Nio Launches 2026 Share Plan and Ties Massive CEO Award to Ambitious Growth Targets
Mar 10, 2026
On March 6, 2026, Nio adopted a 2026 Share Incentive Plan authorizing up to 248,454,460 Class A ordinary shares, equal to 10% of its outstanding share capital as of February 28, 2026, for equity-based awards over a 12-year term. The move underscor...
NIO Posts 58% February Delivery Surge and Hits 100 Million Battery Swaps
Mar 2, 2026
NIO Inc. reported that in February 2026 it delivered 20,797 vehicles, a 57.6% year-on-year increase, bringing year-to-date 2026 deliveries to 47,979 units, up 77.3%, and lifting cumulative deliveries to 1,045,571 as of February 28. The growth was ...
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.