Li Auto Inc. (LI) reported CN¥112.31B of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 22.3% from the year before.

Yes. Li Auto Inc. earned CN¥1.12B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 1.0%.

How much cash and debt does LI have?

Li Auto Inc. reported CN¥56.69B in cash and cash equivalents and CN¥9.52B of debt on its most recent balance sheet in SEC filings.

How fast is LI revenue growing?

Li Auto Inc.'s revenue changed -22.3% in fiscal 2025, to CN¥112.31B. Its compound annual growth rate was +64.0% over 5 years.

What is LI gross margin?

Li Auto Inc.'s gross profit was CN¥20.99B on CN¥112.31B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 18.7%.

What is LI free cash flow?

Li Auto Inc. generated -CN¥12.82B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥8.61B less capital expenditures.

What is LI earnings per share?

Diluted earnings per share were CN¥0.54 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.

When did LI last report financial results?

The latest statements here come from Li Auto Inc.'s 20-F filed on Apr 10, 2026, covering the period ended Dec 31, 2025.

Where does this LI financial data come from?

Quantisnow builds these statements from the structured XBRL data Li Auto Inc. files with the SEC. It is provided for information only and is not investment advice.

Financials · LI

Li Auto Inc. (LI) financials

For fiscal 2025 (ended Dec 31, 2025), Li Auto Inc. reported CN¥112.31B of revenue and CN¥1.12B of net income. Figures are in CNY, the currency of its SEC filings.

Revenue, FY2025: CN¥112.31B
Revenue growth, YoY: -22.3%
Net income, FY2025: CN¥1.12B
Net income growth, YoY: -86.0%
Net margin: 1.0%
Free cash flow, FY2025: -CN¥12.82B
EPS, diluted, FY2025: CN¥0.54
EPS growth, YoY: -85.8%
Cash: CN¥56.69B
Total debt: CN¥9.52B

Annual revenueCN¥112.31B

FY2019FY2025

Annual net incomeCN¥1.12B

FY2018FY2025

Annual free cash flow-CN¥12.82B

FY2018FY2025

LI revenue and earnings growth

LI revenueFY2025CN¥112.31B

FY YoY: -22.3%
5Y CAGR: +64.0%

LI revenue was CN¥112.31B for fiscal 2025 (ended Dec 31, 2025), down 22.3% from fiscal 2024. Compound annual growth was +64.0% over 5 years. It rose in 5 of the last 6 fiscal years.

LI net incomeFY2025CN¥1.12B

FY YoY: -86.0%

LI net income was CN¥1.12B for fiscal 2025 (ended Dec 31, 2025), down 86.0% from fiscal 2024.

LI EPSFY2025CN¥0.54

FY YoY: -85.8%

LI diluted EPS was CN¥0.54 for fiscal 2025 (ended Dec 31, 2025), down 85.8% from fiscal 2024.

LI free cash flowFY2025-CN¥12.82B

LI free cash flow was -CN¥12.82B for fiscal 2025 (ended Dec 31, 2025), compared with CN¥8.20B in fiscal 2024.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018
Revenue	CN¥112.31B	CN¥144.46B	CN¥123.85B	CN¥45.29B	CN¥27.01B	CN¥9.46B	CN¥284.37M	-
Cost of revenue	CN¥91.33B	CN¥114.80B	CN¥96.35B	CN¥36.50B	CN¥21.25B	CN¥7.91B	CN¥284.46M	-
Gross profit	CN¥20.99B	CN¥29.66B	CN¥27.50B	CN¥8.79B	CN¥5.76B	CN¥1.55B	-CN¥95.0K	-
Research and development	CN¥11.31B	CN¥11.07B	CN¥10.59B	CN¥6.78B	CN¥3.29B	CN¥1.10B	CN¥1.17B	CN¥793.72M
Selling, general and admin	CN¥10.66B	CN¥12.23B	CN¥9.77B	CN¥5.67B	CN¥3.49B	CN¥1.12B	CN¥689.38M	CN¥337.20M
Operating income	-CN¥521.12M	CN¥7.02B	CN¥7.41B	-CN¥3.65B	-CN¥1.02B	-CN¥669.34M	-CN¥1.86B	-CN¥1.13B
Interest expense	CN¥168.08M	CN¥187.75M	CN¥86.25M	CN¥106.34M	CN¥63.24M	CN¥66.92M	CN¥83.67M	CN¥63.47M
Pre-tax income	CN¥1.30B	CN¥9.32B	CN¥10.45B	-CN¥2.16B	-CN¥152.81M	-CN¥188.88M	-CN¥2.42B	-CN¥1.17B
Income tax	CN¥157.71M	CN¥1.27B	-CN¥1.36B	-CN¥127.01M	CN¥168.64M	-CN¥22.85M	-	-
Net income	CN¥1.12B	CN¥8.03B	CN¥11.70B	-CN¥2.01B	-CN¥321.45M	-CN¥791.99M	-CN¥2.44B	-CN¥1.53B
EPS, basic	CN¥0.56	CN¥4.03	CN¥5.95	-CN¥1.04	-CN¥0.17	-CN¥0.91	-CN¥12.87	-CN¥7.25
EPS, diluted	CN¥0.54	CN¥3.79	CN¥5.55	-CN¥1.04	-CN¥0.17	-CN¥0.91	-CN¥12.87	-CN¥7.25
Diluted shares	2.14B	2.13B	2.12B	1.94B	1.85B	870.0M	255.0M	255.0M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018
Cash and equivalents	CN¥56.69B	CN¥65.90B	CN¥91.33B	CN¥38.48B	CN¥27.85B	CN¥8.94B	CN¥1.44B	CN¥95.19M
Short-term investments	CN¥6.16B	CN¥6.08B	CN¥1.68B	CN¥18.03B	-	-	-	-
Receivables	CN¥119.82M	CN¥135.11M	CN¥143.52M	CN¥48.38M	CN¥120.54M	CN¥115.55M	CN¥8.30M	-
Inventory	CN¥8.75B	CN¥8.19B	CN¥6.87B	CN¥6.80B	CN¥1.62B	CN¥1.05B	CN¥518.09M	-
Current assets	CN¥115.29B	CN¥126.31B	CN¥114.53B	CN¥66.99B	CN¥52.38B	CN¥31.39B	CN¥5.07B	-
Goodwill	CN¥5.48M	CN¥5.48M	CN¥5.48M	CN¥5.48M	-	-	-	-
Total assets	CN¥154.30B	CN¥162.35B	CN¥143.47B	CN¥86.54B	CN¥61.85B	CN¥36.37B	CN¥9.51B	-
Current liabilities	CN¥63.55B	CN¥69.22B	CN¥72.74B	CN¥27.37B	CN¥12.11B	CN¥4.31B	CN¥4.68B	-
Short-term debt	CN¥6.22B	CN¥281.10M	CN¥6.98B	CN¥390.75M	CN¥37.04M	-	CN¥238.96M	-
Long-term debt	CN¥3.30B	CN¥8.15B	CN¥1.75B	CN¥9.23B	CN¥5.96B	CN¥511.64M	-	-
Total debt	CN¥9.52B	CN¥8.43B	CN¥8.72B	CN¥9.62B	CN¥6.00B	CN¥511.64M	-	-
Total liabilities	CN¥81.16B	CN¥91.03B	CN¥82.89B	CN¥41.35B	CN¥20.78B	CN¥6.57B	CN¥4.93B	-
Shareholders' equity	CN¥72.62B	CN¥70.87B	CN¥60.58B	CN¥45.19B	CN¥41.06B	CN¥29.80B	-CN¥5.67B	-CN¥2.40B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018
Operating cash flow	-CN¥8.61B	CN¥15.93B	CN¥50.69B	CN¥7.38B	CN¥8.34B	CN¥3.14B	-CN¥1.79B	-CN¥1.35B
Capital expenditures	CN¥4.21B	CN¥7.73B	CN¥6.51B	CN¥5.13B	CN¥3.44B	CN¥675.19M	CN¥952.90M	CN¥970.73M
Free cash flow	-CN¥12.82B	CN¥8.20B	CN¥44.19B	CN¥2.25B	CN¥4.90B	CN¥2.46B	-CN¥2.75B	-CN¥2.32B
Investing cash flow	-CN¥703.13M	-CN¥41.14B	-CN¥12.07M	-CN¥4.36B	-CN¥4.26B	-CN¥18.74B	-CN¥2.57B	-CN¥191.51M
Financing cash flow	CN¥767.40M	-CN¥415.65M	CN¥185.38M	CN¥5.64B	CN¥16.71B	CN¥24.71B	CN¥5.66B	CN¥1.11B
Stock-based compensation	CN¥1.26B	CN¥2.63B	CN¥2.38B	CN¥2.05B	CN¥1.10B	CN¥142.79M	-	-
Depreciation and amortization	CN¥4.64B	CN¥3.06B	CN¥1.81B	CN¥1.21B	CN¥590.40M	CN¥321.00M	CN¥116.39M	CN¥60.50M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018
Revenue growth, YoY	-22.3%	16.6%	173.5%	67.7%	185.6%	3225.5%	-	-
Net income growth, YoY	-86.0%	-31.4%	-	-	-	-	-	-
EPS growth, YoY	-85.8%	-31.7%	-	-	-	-	-	-
Gross margin	18.7%	20.5%	22.2%	19.4%	21.3%	16.4%	-0.0%	-
Operating margin	-0.5%	4.9%	6.0%	-8.1%	-3.8%	-7.1%	-653.6%	-
Net margin	1.0%	5.6%	9.5%	-4.4%	-1.2%	-8.4%	-857.5%	-
Free cash flow margin	-11.4%	5.7%	35.7%	5.0%	18.1%	26.1%	-965.9%	-
Return on equity	1.5%	11.3%	19.3%	-4.5%	-0.8%	-2.7%	-	-
Return on assets	0.7%	4.9%	8.2%	-2.3%	-0.5%	-2.2%	-25.6%	-
Current ratio	1.81	1.82	1.57	2.45	4.33	7.28	1.08	-
Debt to equity	0.13	0.12	0.14	0.21	0.15	0.02	-	-

Source: XBRL data Li Auto Inc. files with the SEC, latest filing dated Apr 10, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

LI peers

Company	Revenue	Growth	Net income	Net margin	Market cap
LI	CN¥112.31B	-22.3%	CN¥1.12B	1.0%	$12.24B
TSLATesla Inc.	$103.57B	+8.3%	$3.22B	3.1%	$1.42T
TMToyota Motor Corporation	¥50.68T	+5.5%	¥3.85T	7.6%	$281.77B
RACEFerrari N.V.	€7.15B	+7.0%	€1.60B	22.3%	$97.35B
GMGeneral Motors Company	$186.95B	-0.3%	$4.08B	2.2%	$72.68B
PCARPACCAR Inc.	$29.08B	-1.5%	$2.76B	9.5%	$53.69B
FFord Motor Company	$186.97B	-1.4%	-$7.79B	-4.2%	$49.68B
HMCHonda Motor Company Ltd.	¥21.80T	+0.5%	-¥423.94B	-1.9%	$46.43B
RIVNRivian Automotive Inc.	$6.48B	+11.1%	-$2.98B	-45.9%	$19.87B

LI FAQ

9 questions

What is LI revenue?
Li Auto Inc. (LI) reported CN¥112.31B of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 22.3% from the year before.
Is LI profitable?
Yes. Li Auto Inc. earned CN¥1.12B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 1.0%.
How much cash and debt does LI have?
Li Auto Inc. reported CN¥56.69B in cash and cash equivalents and CN¥9.52B of debt on its most recent balance sheet in SEC filings.
How fast is LI revenue growing?
Li Auto Inc.'s revenue changed -22.3% in fiscal 2025, to CN¥112.31B. Its compound annual growth rate was +64.0% over 5 years.
What is LI gross margin?
Li Auto Inc.'s gross profit was CN¥20.99B on CN¥112.31B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 18.7%.
What is LI free cash flow?
Li Auto Inc. generated -CN¥12.82B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥8.61B less capital expenditures.
What is LI earnings per share?
Diluted earnings per share were CN¥0.54 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
When did LI last report financial results?
The latest statements here come from Li Auto Inc.'s 20-F filed on Apr 10, 2026, covering the period ended Dec 31, 2025.
Where does this LI financial data come from?
Quantisnow builds these statements from the structured XBRL data Li Auto Inc. files with the SEC. It is provided for information only and is not investment advice.