Li Auto Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	1,139	8,045	11,809	-2,032	-321.46
Depreciation & Amortization	-	4,635	3,058	1,805	1,214	590.4
Stock-Based Compensation	-	1,258	2,631	2,379	2,053	1,101
Other Adjustments	-	-517.69	129.11	-1,911	1,110	405.42
Change in Receivables	-	14.1	8.2	-95.1	72.21	-5.46
Changes in Inventories	-	-2,579	-3,099	-1,248	-5,920	-611.56
Changes in Accounts Payable	-	-13,017	2,211	31,846	10,594	6,162
Changes in Accrued Expenses	-	-715.21	1,499	5,286	1,167	932.12
Changes in Unearned Revenue	-	129.14	-220.74	1,187	5.02	287.58
Changes in Other Operating Activities	-	1,042	1,671	-363.28	-882.17	-200.02
Operating Cash Flow	-13,001	-8,611	15,933	50,694	7,380	8,340
Operating Cash Flow Growth	-	-	-68.57%	586.88%	-11.51%	165.63%
Capital Expenditures	-3,868	-4,206	-7,730	-6,507	-5,128	-3,445
Sale of Property, Plant & Equipment	-	1,300	970.22	284	4.53	0.04
Purchases of Investments	-	-108,195	-67,546	-34,126	-59,711	-222,159
Proceeds from Sale of Investments	-	110,397	33,169	40,337	60,468	221,977
Payments for Business Acquisitions	-	-	-	-	2.09	-630.7
Investing Cash Flow	2,075	-703.13	-41,137	-12.07	-4,365	-4,257
Long-Term Debt Issued	-	1,636	565.88	1,750	3,741	6,133
Long-Term Debt Repaid	-	-943.51	-996.19	-2,751	-661.12	-429.69
Net Long-Term Debt Issued (Repaid)	-	692.74	-430.31	-1,001	3,080	5,704
Issuance of Common Stock	-	14.66	14.66	1,186	2,469	11,006
Net Common Stock Issued (Repurchased)	-	14.66	14.66	1,186	2,469	11,006
Other Financing Activities	-	60	-	-	90	-
Financing Cash Flow	1,043	767.4	-415.65	185.39	5,639	16,710
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-157	-452.77	198.12	44.51	1,270	-472.13
Net Cash Flow	-1,915	-9,000	-25,422	50,911	9,925	20,321
Free Cash Flow	-16,869	-12,817	8,203	44,186	2,252	4,896
Free Cash Flow Growth	-	-	-81.44%	1861.77%	-53.99%	98.64%
FCF Margin	-15.42%	-11.41%	5.68%	35.68%	4.97%	18.13%
Free Cash Flow Per Share	-16.31	-11.96	7.71	41.78	2.32	5.28
Levered Free Cash Flow	-5,683	-12,893	4,992	42,708	2,117	9,098
Unlevered Free Cash Flow	-7,121	-15,168	3,452	40,374	-2,391	1,576

Updated May 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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