NIO (NIO) Financial Statements & Analysis

NIO (NIO) Income Statement

NIO reported revenue of CNY 87.49B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 33.1% from CNY 65.73B a year earlier. NIO posted a net loss of CNY 14.96B, compared with a net loss of CNY 22.66B a year earlier. Gross margin was 13.6% and operating margin -16.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 32.14B, up 69.1% from the same quarter a year earlier.

NIO Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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NIO Inc. income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	87.49	65.73	55.62	49.27	36.14	16.26	7.82	4.95	0.00
Cost of Revenue	75.57	59.24	52.57	44.12	29.31	14.38	9.02	5.21	0.00
Gross Profit	11.92	6.49	3.05	5.14	6.82	1.87	-1.20	-0.26	0.00
Operating Expenses
Research & Development	10.60	12.79	13.16	10.84	4.54	2.49	4.43	4.00	2.60
Selling, General & Administrative	14.76	15.58	12.87	9.72	6.73	3.53	4.89	5.09	2.36
Operating Expenses	25.96	28.37	25.71	20.78	11.32	6.48	9.88	9.34	4.95
Operating Income	-14.04	-21.87	-22.66	-15.64	-4.50	-4.61	-11.08	-9.60	-4.95
Other Income/Expense
Interest Income	0.76	0.85	2.21	1.36	0.91	0.17	0.16	0.13	0.02
Interest Expense	0.89	-0.80	-0.40	0.33	-0.64	0.43	0.37	0.12	0.02
Other Income/Expense	-0.78	-0.55	2.20	0.23	0.52	-0.69	-0.21	-0.02	-2.64
Income
Income Before Tax	-14.82	-22.77	-20.76	-14.38	-10.56	-5.30	-11.29	-9.62	-7.59
Income Tax Expense	0.12	-0.02	0.26	0.06	0.04	0.01	0.01	0.02	0.01
Net Income	-14.96	-22.66	-21.15	-14.56	-10.57	-5.61	-11.41	-9.66	-4.98
Net Income - Continuous Operations	-14.96	-22.40	-21.15	-14.44	-4.02	-5.61	-11.41	-9.66	-4.98
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-4.56	-16.00	-19.28	-10.05	-2.79	-3.33	-9.40	-9.02	-4.83
EBIT	-14.04	-21.87	-22.66	-14.05	-4.50	-4.61	-	-	-
Depreciation & Amortization	9.38	5.88	3.38	0.48	1.71	1.55	1.52	0.47	0.17
Earnings Per Share
Basic EPS	-7.00	-11.00	-12.00	-9.00	-7.00	-5.00	-11.00	-9.00	-1.00
Diluted EPS	-7.00	-11.00	-12.00	-9.00	-7.00	-5.00	-11.00	-9.00	-1.00
Basic Shares Outstanding	2.27	2.05	1.70	1.64	1.57	1.18	1.03	1.04	1.05
Diluted Shares Outstanding	2.27	2.05	1.70	1.64	1.57	1.18	1.03	1.04	1.05

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About NIO Financial Statements

What was NIO's revenue in fiscal 2025?

NIO reported revenue of CNY 87.49B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 33.1% from CNY 65.73B a year earlier.

Is NIO profitable?

No. NIO reported a net loss of CNY 14.96B in fiscal 2025. In fiscal 2024 it lost CNY 22.66B.

What is NIO's operating margin?

NIO's operating income was −CNY 14.04B on revenue of CNY 87.49B in fiscal 2025, an operating margin of -16.0%, compared with -33.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition