NIO Inc. Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	21,794	65,732	55,618	49,269	36,136	16,258
Revenue Growth (YoY)	16.71%	18.18%	12.89%	36.34%	122.27%	107.77%
Cost of Revenue	64,390	59,239	52,566	44,125	29,315	14,385
Gross Profit	8,151	6,493	3,052	5,144	6,821	1,873
Selling, General & Admin	17,428	15,741	12,885	10,537	6,878	3,932
Research & Development	12,215	13,037	13,431	10,836	4,592	2,488
Other Operating Expenses	-611.19	-411.53	-608.98	-588.73	-152.25	61.02
Total Operating Expenses	29,032	28,367	25,707	20,785	11,318	6,481
Operating Income	-20,881	-21,874	-22,655	-15,641	-4,496	-4,608
Interest Income	465.22	350.54	2,274	1,736	974.34	166.9
Interest Expense	-927.7	-798.36	-403.53	-333.22	-637.41	-426.02
Other Non-Operating Income (Expense)	-958.36	-102.62	325.38	-144.62	184.69	-430.96
Total Non-Operating Income (Expense)	-1,421	-550.45	2,196	1,259	521.62	-690.07
Pretax Income	-22,302	-22,425	-20,459	-14,382	-3,975	-5,298
Provision for Income Taxes	34.51	-22.82	260.84	55.1	42.27	6.37
Net Income	-22,825	-22,658	-21,147	-14,559	-10,572	-5,611
Minority Interest in Earnings	488.1	255.98	427.21	122.34	6,555	306.71
Net Income to Common	-22,825	-22,658	-21,147	-14,559	-10,572	-5,611
Shares Outstanding (Basic)	2,117	2,055	1,700	1,637	1,573	1,183
Shares Outstanding (Diluted)	2,117	2,055	1,700	1,637	1,573	1,183
Shares Change (YoY)	12.63%	20.84%	3.86%	4.09%	32.98%	14.83%
EPS (Basic)	-10.42	-11.03	-12.44	-8.89	-6.72	-4.74
EPS (Diluted)	-10.42	-11.03	-12.44	-8.89	-6.72	-4.74
Free Cash Flow	-	-16,991	-15,722	-10,839	-2,112	823.21
Free Cash Flow Per Share	-	-8.27	-9.25	-6.62	-1.34	0.70
Gross Margin	37.40%	9.88%	5.49%	10.44%	18.88%	11.52%
Operating Margin	-95.81%	-33.28%	-40.73%	-31.75%	-12.44%	-28.34%
Profit Margin	-102.49%	-34.08%	-37.25%	-29.30%	-11.12%	-32.62%
FCF Margin	-	-25.85%	-28.27%	-22.00%	-5.85%	5.06%
EBITDA	-20,881	-15,999	-19,277	-12,788	-2,788	-3,561
EBITDA Margin	-95.81%	-24.34%	-34.66%	-25.96%	-7.72%	-21.90%
EBIT	-20,881	-21,874	-22,655	-15,641	-4,496	-4,608
EBIT Margin	-95.81%	-33.28%	-40.73%	-31.75%	-12.44%	-28.34%
Effective Tax Rate	-0.15%	0.10%	-1.27%	-0.38%	-1.06%	-0.12%

Updated Nov 25, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q