NIO Inc ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), NIO Inc ADR reported revenue of $87.5B (+33.1% year on year) and net income of ($15.6B) (+31.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $87.5B | $65.7B | $55.6B | $49.3B |
| Total cost of sales | ($75.6B) | ($59.2B) | ($52.6B) | ($44.1B) |
| Gross profit | $11.9B | $6.5B | $3.1B | $5.1B |
| Research and development | ($10.6B) | ($13.0B) | ($13.4B) | ($10.8B) |
| Selling, general and administrative | ($16.1B) | ($15.7B) | ($12.9B) | ($10.5B) |
| Other operating income, net (including income from related parties of nil, nil and RMB150,000 for the years ended December 31, 2023, 2024 and 2025, respectively) | $735.8M | $411.5M | $609.0M | $588.7M |
| Total operating expenses | ($26.0B) | ($28.4B) | ($25.7B) | ($20.8B) |
| Loss from operations | ($14.0B) | ($21.9B) | ($22.7B) | ($15.6B) |
| Interest and investment income | $761.7M | $853.7M | $2.2B | $1.4B |
| Interest expenses | ($885.2M) | ($798.4M) | ($403.5M) | ($333.2M) |
| Gain/(loss) on extinguishment of debt | ($14.7M) | ($4.5M) | $170.2M | $138.3M |
| Share of income/(loss) of equity investees | ($1.1B) | ($503.2M) | $64.4M | $377.8M |
| Other income/(loss), net | $451.0M | ($98.1M) | $155.2M | ($283.0M) |
| Loss before income tax expense | ($14.8B) | ($22.4B) | ($20.5B) | ($14.4B) |
| Income tax (expense)/benefit | ($121.9M) | $22.8M | ($260.8M) | ($55.1M) |
| Net loss | ($14.9B) | ($22.4B) | ($20.7B) | ($14.4B) |
| Accretion on redeemable non-controlling interests to redemption value | ($609.9M) | ($347.5M) | ($303.2M) | ($279.4M) |
| Net (profit)/loss attributable to non-controlling interests | ($18.2M) | $91.5M | ($124.1M) | $157.0M |
| Net loss attributable to ordinary shareholders of NIO Inc. | ($15.6B) | ($22.7B) | ($21.1B) | ($14.6B) |
| Foreign currency translation adjustment, net of nil tax | ($2.9M) | $149.7M | $11.5M | $717.3M |
| Total other comprehensive (loss)/income | ($2.9M) | $149.7M | ($759.0M) | $1.5B |
| Total comprehensive loss | ($14.9B) | ($22.3B) | ($21.5B) | ($13.0B) |
| Comprehensive loss attributable to ordinary shareholders of NIO Inc | ($15.6B) | ($22.5B) | ($21.7B) | ($13.2B) |
| Weighted average number of ordinary shares, basic | 2.3B | 2.1B | 1.7B | 1.6B |
| Weighted average number of ordinary shares, diluted | 2.3B | 2.1B | 1.7B | 1.6B |
| Net loss per share, basic | -$6.85 | -$11.03 | -$12.44 | -$8.89 |
| Net loss per share, diluted | -$6.85 | -$11.03 | -$12.44 | -$8.89 |
| Line item | Jun 30, 2025 · YTD | Sep 30, 2021 · YTD | Sep 30, 2020 · YTD |
|---|---|---|---|
| Total revenues | $31.0B | $26.2B | $9.6B |
| Total cost of sales | ($28.2B) | ($21.1B) | ($8.9B) |
| Gross profit | $2.8B | $5.1B | $731.5M |
| Research and development | ($6.2B) | ($2.8B) | ($1.7B) |
| Selling, general and administrative | ($8.4B) | ($4.5B) | ($2.7B) |
| Other operating income, net | $410.1M | — | — |
| Total operating expenses | ($14.1B) | ($7.2B) | ($4.4B) |
| Loss from operations | ($11.3B) | ($2.1B) | ($3.7B) |
| Interest and investment income | $280.7M | $552.8M | $89.9M |
| Interest expenses | ($457.6M) | ($561.5M) | ($332.2M) |
| Loss on extinguishment of debt | ($14.7M) | — | — |
| Share of loss of equity investees | ($380.9M) | $64.2M | ($32.1M) |
| Other income, net | $202.1M | $131.2M | $39.9M |
| Loss before income tax expense | ($11.7B) | ($1.9B) | ($3.9B) |
| Income tax expense | ($47.6M) | ($9.0M) | ($4.7M) |
| Net loss | ($11.7B) | ($1.9B) | ($3.9B) |
| Accretion on redeemable non-controlling interests to redemption value | ($292.9M) | ($6.5B) | ($205.9M) |
| Net loss attributable to non-controlling interests | $5.3M | $131.0K | $2.7M |
| Net loss attributable to ordinary shareholders of NIO Inc. | ($12.0B) | ($8.4B) | ($4.1B) |
| Foreign currency translation adjustment, net of nil tax | $260.5M | ($168.9M) | $104.9M |
| Total other comprehensive income | $260.5M | ($168.9M) | $104.9M |
| Total comprehensive loss | ($11.5B) | ($2.0B) | ($3.8B) |
| Comprehensive loss attributable to ordinary shareholders of NIO Inc | ($11.8B) | ($8.6B) | ($4.0B) |
| Weighted average number of ordinary shares, basic | 2.2B | — | — |
| Weighted average number of ordinary shares, diluted | 2.2B | — | — |
| Net loss per share, basic | -$5.56 | — | — |
| Net loss per share, diluted | -$5.56 | — | — |
| Weighted average number of ADS, basic | 2.2B | — | — |
| Weighted average number of ADS, diluted | 2.2B | — | — |
| Net loss per ADS, basic | ($5.56) | — | — |
| Net loss per ADS, diluted | ($5.56) | — | — |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $11.3B | $19.3B | $32.9B | $19.9B |
| Restricted cash | $14.7B | $8.3B | $5.5B | $3.2B |
| Short-term investments | $19.8B | $14.1B | $16.8B | $19.2B |
| Trade and notes receivables, net (Allowance for expected credit losses of RMB38.5 million and RMB26.6 million as of December 31, 2024 and 2025, respectively) | $1.4B | $1.7B | $4.7B | $5.1B |
| Amounts due from related parties, net (Allowance for expected credit losses of RMB10.1 million and RMB20.6 million as of December 31, 2024 and 2025, respectively) | $16.1B | $7.7B | $1.7B | — |
| Inventory | $8.5B | $7.1B | $5.3B | $8.2B |
| Prepayments and other current assets, net (Allowance for expected credit losses of RMB1.9 million and RMB1.5 million as of December 31, 2024 and 2025, respectively) | $4.9B | $3.6B | $3.4B | $2.2B |
| Total current assets | $76.6B | $61.9B | $70.4B | $59.1B |
| Long-term restricted cash | $88.3M | $97.7M | $144.1M | $113.5M |
| Property, plant and equipment, net | $25.8B | $25.9B | $24.8B | $15.7B |
| Intangible assets, net | $29.6M | $29.6M | $29.6M | — |
| Land use rights, net | $196.7M | $202.0M | $207.3M | $212.6M |
| Long-term investments | $2.5B | $3.1B | $5.5B | $6.4B |
| Right-of-use assets - operating lease | $11.7B | $12.8B | $11.4B | $7.4B |
| Other non-current assets, net (Allowance for expected credit losses of RMB59.4 million and RMB14.7 million as of December 31, 2024 and 2025, respectively) | $7.4B | $3.6B | $4.9B | $7.4B |
| Total non-current assets | $47.8B | $45.7B | $47.0B | $37.1B |
| Total assets | $124.4B | $107.6B | $117.4B | $96.3B |
| Short-term borrowings | $4.7B | $5.7B | $5.1B | $4.0B |
| Trade and notes payable | $53.3B | $34.4B | $29.8B | $25.2B |
| Amounts due to related parties, current | $625.9M | $409.4M | $561.6M | — |
| Taxes payable | $439.2M | $400.1M | $349.3M | $286.3M |
| Current portion of operating lease liabilities | $2.2B | $1.9B | $1.7B | $1.0B |
| Current portion of long-term borrowings | $656.0M | $3.4B | $4.7B | $1.2B |
| Accruals and other liabilities | $16.7B | $16.0B | $15.6B | $13.7B |
| Total current liabilities | $78.6B | $62.3B | $57.8B | $45.9B |
| Long-term borrowings | $8.6B | $11.4B | $13.0B | $10.9B |
| Non-current operating lease liabilities | $10.1B | $11.3B | $10.1B | $6.5B |
| Deferred tax liabilities | $112.7M | $127.5M | $212.3M | $218.2M |
| Other non-current liabilities | $14.3B | $9.0B | $6.7B | $5.1B |
| Total non-current liabilities | $33.1B | $31.8B | $30.0B | $22.8B |
| Total liabilities | $111.7B | $94.1B | $87.8B | $68.6B |
| Redeemable non-controlling interests | $8.6B | $7.4B | $3.9B | $3.6B |
| Total mezzanine equity | $8.6B | $7.4B | $3.9B | $3.6B |
| Ordinary shares | 4.3M | 3.7M | 3.6M | 2.9M |
| Less: Treasury shares (3,472,933 and 2,951,528 shares as of December 31, 2024 and 2025, respectively) | -123.9M | -239.3M | -1.8B | -1.8B |
| Additional paid in capital | $131.7B | $118.7B | $117.7B | $94.6B |
| Accumulated other comprehensive income | $579.8M | $582.7M | $433.0M | $1.0B |
| Accumulated deficit | ($128.0B) | ($113.1B) | ($90.8B) | ($69.9B) |
| Total NIO Inc. shareholders' equity | $4.2B | $6.0B | $25.5B | $23.9B |
| Non-controlling interests | ($18.8M) | $97.5M | $189.4M | $221.4M |
| Total shareholders' equity | $4.1B | $6.1B | $25.7B | $24.1B |
| Total liabilities, mezzanine equity and shareholders' equity | $124.4B | $107.6B | $117.4B | $96.3B |
| Line item | Jun 30, 2025 | Sep 30, 2021 | Sep 30, 2020 |
|---|---|---|---|
| Cash and cash equivalents | $7.1B | $21.6B | $19.3B |
| Restricted cash | $9.3B | $3.7B | $184.2M |
| Short-term investments | $10.7B | $21.7B | $2.7B |
| Trade and notes receivables, net (Allowance for expected credit losses of RMB 38,540 and RMB 45,990 as of December 31, 2024 and June 30, 2025, respectively) | $1.3B | $3.3B | $1.5B |
| Amounts due from related parties, net (Allowance for expected credit losses of RMB 10,142 and RMB 14,709 as of December 31, 2024 and June 30, 2025, respectively) | $11.4B | — | — |
| Inventory | $8.2B | $1.7B | $1.0B |
| Prepayments and other current assets, net (Allowance for expected credit losses of RMB 1,912 and RMB 1,931 as of December 31, 2024 and June 30, 2025, respectively) | $4.4B | $1.3B | $1.5B |
| Total current assets | $52.5B | $54.3B | $26.3B |
| Long-term restricted cash | $78.1M | $44.4M | $43.6M |
| Property, plant and equipment, net | $26.8B | $6.0B | $5.1B |
| Intangible assets, net | $29.6M | $3.0K | $851.0K |
| Land use rights, net | $199.3M | $200.3M | $205.2M |
| Long-term investments | $2.7B | $1.3B | $340.8M |
| Right-of-use assets - operating lease | $13.0B | $2.3B | $1.4B |
| Other non-current assets, net (Allowance for expected credit losses of RMB 59,386 and RMB 40,313 as of December 31, 2024 and June 30, 2025, respectively) | $4.8B | $4.8B | $984.7M |
| Total non-current assets | $47.5B | $14.7B | $8.1B |
| Total assets | $100.0B | $69.0B | $34.4B |
| Short-term borrowings | $5.4B | $5.3B | $952.0M |
| Trade and notes payable | $35.0B | $10.8B | — |
| Amounts due to related parties, current | $641.5M | — | — |
| Taxes payable | $503.4M | $184.8M | $39.2M |
| Current portion of operating lease liabilities | $2.6B | $646.9M | $522.7M |
| Current portion of long-term borrowings | $792.2M | $1.6B | $445.0M |
| Accruals and other liabilities | $17.3B | $7.3B | $3.5B |
| Total current liabilities | $62.3B | $26.6B | $10.9B |
| Long-term borrowings | $9.1B | $9.8B | $6.8B |
| Non-current operating lease liabilities | $11.1B | $1.8B | $1.0B |
| Deferred tax liabilities | $127.3M | — | — |
| Other non-current liabilities | $10.8B | $3.1B | $1.5B |
| Total non-current liabilities | $31.1B | $14.7B | $9.4B |
| Total liabilities | $93.4B | $41.3B | $20.2B |
| Redeemable non-controlling interests | $7.7B | $3.2B | $6.1B |
| Total mezzanine equity | $7.7B | $3.2B | $6.1B |
| Ordinary shares | 3.9M | 2.8M | 2.4M |
| Less: Treasury shares (3,472,933 and 2,896,378 shares as of December 31, 2024 and June 30, 2025, respectively) | -139.2M | — | — |
| Additional paid in capital | $122.9B | $80.0B | $58.4B |
| Accumulated other comprehensive income | $843.1M | ($234.4M) | ($98.1M) |
| Accumulated deficit | ($124.8B) | ($53.5B) | ($50.3B) |
| Total NIO Inc. shareholders' equity/(deficit) | ($1.2B) | $24.4B | $8.0B |
| Non-controlling interests | $86.8M | $102.0M | $4.4M |
| Total shareholders' equity/(deficit) | ($1.1B) | $24.5B | $8.0B |
| Total liabilities, mezzanine equity and shareholders' equity/(deficit) | $100.0B | $69.0B | $34.4B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($14.9B) | ($22.4B) | ($20.7B) | ($14.4B) |
| Depreciation and amortization | $7.1B | $5.9B | $3.4B | $2.9B |
| Expected credit loss reversal | ($46.7M) | ($3.8M) | ($26.3M) | $48.7M |
| Inventory write-downs | $509.3M | $123.3M | $65.4M | $148.7M |
| Impairment on long-term assets | $0 | $55.3M | $0 | $35.0M |
| Foreign exchange (gain)/loss | ($340.7M) | $212.0M | ($55.5M) | $282.9M |
| Share-based compensation expenses | $1.8B | $1.9B | $2.4B | $2.3B |
| Investment (income)/loss | ($213.8M) | $438.0M | ($969.1M) | ($174.9M) |
| (Gain)/Loss on extinguishment of debt | $14.7M | $4.5M | ($170.2M) | ($138.3M) |
| Share of (income)/loss of equity investees | $1.1B | $503.2M | ($64.4M) | ($377.8M) |
| Amortization of right-of-use assets | $2.2B | $1.8B | $1.5B | $1.1B |
| (Gain)/Loss on disposal of long-lived assets | ($43.3M) | $63.6M | ($4.5M) | $12.8M |
| Deferred income tax expense/(benefit) | ($14.8M) | ($84.9M) | $200.9M | — |
| Prepayments and other current assets | ($106.2M) | $940.2M | $279.4M | ($1.2B) |
| Inventory | ($3.1B) | ($1.8B) | $2.9B | ($6.3B) |
| Other non-current assets | $793.6M | $1.4B | $2.6B | ($1.8B) |
| Amounts due from related parties | ($8.4B) | ($6.0B) | ($329.7M) | $167.7M |
| Operating lease liabilities | ($1.9B) | ($1.8B) | ($1.3B) | ($1.0B) |
| Taxes payable | $36.9M | $53.3M | $61.0M | ($341.6M) |
| Trade and notes receivable | $298.2M | $3.0B | $453.4M | ($2.3B) |
| Trade and notes payable | $18.3B | $4.7B | $4.9B | $11.7B |
| Accruals and other liabilities | ($312.7M) | $1.3B | $1.8B | $4.1B |
| Amounts due to related parties, current | $199.9M | ($152.3M) | — | — |
| Amounts due to related parties, non-current | $204.0M | $329.5M | — | — |
| Other non-current liabilities | ($174.6M) | $1.7B | $1.5B | $1.6B |
| Net cash (used in)/provided by operating activities | $3.0B | ($7.8B) | ($1.4B) | ($3.9B) |
| Purchase of property, plant and equipment and intangible assets | ($6.1B) | ($9.1B) | ($14.3B) | ($7.0B) |
| Proceeds from disposal of property, plant and equipment | $113.5M | $231.5M | $73.1M | $3.6M |
| Purchase of short-term investments | ($29.4B) | ($46.0B) | ($43.9B) | ($87.6B) |
| Proceeds from maturities of short-term investments | $23.6B | $50.4B | $47.8B | — |
| Purchase of available-for-sale debt investment | ($1.8M) | ($52.8M) | — | ($120.0M) |
| Acquisitions of equity investments | ($565.4M) | ($392.4M) | — | — |
| Proceeds from disposal and withdrawal of equity investments | $810.4M | — | — | $286.8M |
| Purchase of held to maturity debt investments | ($6.5M) | ($17.7M) | ($35.0M) | ($1.8B) |
| Proceeds from maturities of retained asset-backed securities | $43.6M | $83.0M | $16.9M | — |
| Net cash used in investing activities | ($11.5B) | ($5.0B) | ($10.9B) | $10.4B |
| Proceeds from exercise of stock options | $99.1M | $111.3M | $86.8M | $78.7M |
| Capital withdrawal by non-controlling interests | ($61.8M) | ($343.0K) | ($250.0K) | ($3.3M) |
| Distributions to non-controlling interests | ($72.7M) | — | — | ($32.6M) |
| Capital injection from redeemable non-controlling interests | $500.0M | $3.3B | — | — |
| Repurchase of convertible senior notes | ($2.7B) | ($3.3B) | ($3.4B) | — |
| Proceeds from borrowings from third parties | $5.5B | $9.2B | $8.0B | $6.9B |
| Repayments of borrowings from third parties | ($8.3B) | ($7.5B) | ($6.1B) | ($8.6B) |
| Proceeds from borrowings from related parties | $87.3M | — | — | — |
| Principal payments on finance leases | ($101.1M) | ($37.9M) | ($37.5M) | ($27.5M) |
| Line item | Jun 30, 2025 · YTD | Sep 30, 2021 · YTD | Sep 30, 2020 · YTD |
|---|---|---|---|
| Net loss | ($11.7B) | ($1.9B) | ($3.9B) |
| Depreciation and amortization | $3.5B | $1.1B | $764.8M |
| Expected credit loss reversal | ($7.0M) | $38.3M | — |
| Inventory write-downs | $133.4M | — | — |
| Impairment on long-term assets | $0 | — | — |
| Foreign exchange gain | ($65.7M) | ($122.1M) | $75.9M |
| Share-based compensation expenses | $897.1M | $613.4M | $126.9M |
| Investment loss/(income) | ($6.6M) | — | — |
| Loss on extinguishment of debt | $14.7M | — | — |
| Share of loss of equity investees, net of tax | $380.9M | ($64.2M) | $32.1M |
| Amortization of right-of-use assets | $1.1B | $439.2M | $349.4M |
| Loss on disposal of property, plant and equipment | $46.3M | $6.2M | $26.4M |
| Deferred income tax benefit | ($181.0K) | — | — |
| Prepayments and other current assets | ($200.4M) | $198.3M | $21.5M |
| Inventory | ($1.9B) | ($629.2M) | ($151.7M) |
| Other non-current assets | $524.1M | ($952.6M) | $738.7M |
| Amount due from related parties | ($3.7B) | ($878.8M) | — |
| Operating lease liabilities | ($612.1M) | ($534.1M) | ($323.3M) |
| Taxes payable | $99.6M | $3.5M | ($11.9M) |
| Trade and notes receivable | $324.3M | ($2.2B) | ($137.6M) |
| Trade and notes payable | $222.0M | $4.5B | — |
| Accruals and other liabilities | ($229.4M) | $1.1B | ($126.0M) |
| Amount due to related parties, current | $232.1M | — | — |
| Amount due to related parties, non-current | $28.5M | — | — |
| Other non-current liabilities | $109.2M | $665.6M | $223.9M |
| Net cash used in operating activities | ($10.9B) | $335.8M | ($196.7M) |
| Purchase of property, plant and equipment and intangible assets | ($3.0B) | ($2.4B) | ($952.4M) |
| Proceeds from disposal of property, plant and equipment | $45.5M | $908.0K | $163.1M |
| Purchases of short-term investments | ($9.2B) | ($88.2B) | ($3.0B) |
| Proceeds from sale of short-term investments | $12.6B | $70.4B | $353.0M |
| Purchase of available-for-sale debt investment | ($1.8M) | ($650.0M) | — |
| Capital injection to equity investees | ($5.8M) | ($293.7M) | ($257.5M) |
| Withdrawal of long-term investments | $7.9M | — | — |
| Purchase of held to maturity debt investments | ($5.9M) | — | — |
| Proceeds from maturities of retained asset-backed securities | $26.3M | — | — |
| Net cash provided by investing activities | $516.8M | ($21.1B) | ($3.7B) |
| Proceeds from exercise of stock options | $7.6M | $123.3M | $96.4M |
| Distributions to non-controlling interests | ($1.6M) | — | — |
| Proceeds from borrowings | $4.1B | $4.4B | $645.5M |
| Repayments of borrowings | ($6.0B) | ($1.2B) | ($721.2M) |
| Repurchase and repayments of convertible senior notes | ($2.7B) | — | — |
| Principal payments on finance leases | ($13.7M) | ($25.2M) | ($32.6M) |
| Proceeds from issuance of ordinary shares, net of issuance costs | 3.7B | 602.8M | 14.9B |
| Net cash used in financing activities | ($917.8M) | $7.5B | $22.5B |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | $29.9M | $20.7M | ($91.3M) |
NIO Inc ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.