NIO Inc.
Financial Performance
NIO Revenue & Financials
Revenue
~$12.2B (FY2025)
Market Cap
$8.5B
Employees
35,032
What is NIO's revenue?
NIO had ~$12.2B in revenue for fiscal year 2025, up 33.1% from 2024. It reported a net loss of ~$2.1B.
- Latest revenue
- ~$12.2B (FY2025)
- Year-over-year
- +33.1%
- Growth rate (CAGR)
- 50.7% over 7 years
- Peak revenue
- ~$12.2B (FY2025)
- Years of data
- 8
- Employees
- 35,032
- How much profit does NIO make?
- NIO reported a net loss of ~$2.1B for fiscal year 2025. sec.gov
- How many employees does NIO have?
- NIO has about 35,032 employees.
Financial Analysis
NIO has reported a net loss every year since founding, peaking at ~$3.11 billion (RMB22.40 billion) in 2024. FY2025 revenue grew 33.1% to ~$12.2 billion (RMB87.49 billion) and the net loss narrowed to ~$2.08 billion (RMB14.94 billion). The improvement accelerated in 2026: Q2 revenue rose 69.1% year over year to ~$4.47 billion (RMB32.14 billion), vehicle margin reached 18.5%, the GAAP net loss fell to ~$73.4 million (RMB528 million), and adjusted net profit was ~$3.63 million (RMB26.1 million). NIO reported positive operating cash flow for a fourth straight quarter and cash reserves of RMB56.7 billion (US$8.4 billion) at June 30, 2026. Major funding came from Hefei state-linked investors in 2020 and Abu Dhabi-backed CYVN Holdings, which invested about US$3.3 billion in 2023. NIO Inc. is a major Chinese multinational automobile manufacturer specializing in designing and developing premium electric vehicles, sustaining a market valuation typically exceeding $10 billion.
Revenue Trend Analysis
YoY Change
+33.1%
7-Year CAGR
+50.7%
Peak Year
2025
Trend
Consistent Growth
NIO Inc. has 8 full fiscal year figures on this page, compounding at +50.7% annually over 7 years. The most recent year saw a 33.1% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at ~$12.2B. Of 7 comparable year-over-year steps, 7 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$12.2B | -~$2.1B | +33.1% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2026-04-10) Fiscal year ended 2025-12-31. |
| FY2024 | ~$9.1B | -~$3.1B | +18.2% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2026-04-10) Fiscal year ended 2024-12-31. |
| FY2023 | ~$7.7B | -~$2.9B | +12.9% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2024-04-09) Fiscal year ended 2023-12-31. |
| FY2022 | ~$6.8B | -~$2B | +36.3% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2024-04-09) Fiscal year ended 2022-12-31. |
| FY2021 | ~$5B | -~$558.4M | +122.3% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2024-04-09) Fiscal year ended 2021-12-31. |
| FY2020 | ~$2.3B | -~$737.3M | +107.8% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2023-04-28) Fiscal year ended 2020-12-31. |
| FY2019 | ~$1.1B | -~$1.6B | +58.0% | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2022-04-29) Fiscal year ended 2019-12-31. |
| FY2018 | ~$688.2M | -~$1.3B | — | NIO Inc. annual report (Form 20-F, SEC EDGAR, filed 2019-04-02) Fiscal year ended 2018-12-31. |
Click any row to see year details.
NIO Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 20-F, linked on each row. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | ~$416M | ~$17.3B | ~$15.5B | ~$578.2M | Form 20-F |
| FY2024ended Dec 31, 2024 | -~$1.1B | ~$15B | ~$13.1B | ~$829.4M | Form 20-F |
| FY2023ended Dec 31, 2023 | -~$192M | ~$16.3B | ~$12.2B | ~$3.6B | Form 20-F |
| FY2022ended Dec 31, 2022 | -~$537.4M | ~$13.4B | ~$9.5B | ~$3.3B | Form 20-F |
| FY2021ended Dec 31, 2021 | ~$273.3M | ~$11.5B | ~$6.2B | ~$4.8B | Form 20-F |
| FY2020ended Dec 31, 2020 | ~$271.2M | ~$7.6B | ~$3.2B | ~$3.8B | Form 20-F |
| FY2019ended Dec 31, 2019 | -~$1.2B | ~$2B | ~$2.7B | -~$875.7M | Form 20-F |
| FY2018ended Dec 31, 2018 | -~$1.1B | ~$2.6B | ~$1.5B | ~$950.3M | Form 20-F |
Keep researching NIO
NIO Revenue and Financial FAQ
What was NIO Inc.'s annual revenue and vehicle delivery volume in recent years?
NIO reported revenue of ~$9.14 billion (RMB65.73 billion) in FY2024 and ~$12.2 billion (RMB87.49 billion) in FY2025. It delivered 300,301 vehicles in the first nine months of 2026.
What is NIO's vehicle gross margin and how does it target profitability?
NIO's vehicle margin was 18.5% in Q2 2026, up from 10.3% in Q2 2025, helped by higher volume and a richer product mix.
How much does NIO invest annually in Research and Development (R&D)?
NIO maintains one of the highest R&D intensities among global automakers, investing over 12 billion to 13.5+ billion RMB ($1.7B-$1.9B+ USD) annually (roughly 20-25% of total revenue) across 12 core full-stack technology domains (smart OS SkyOS, chips, battery cells, autonomous driving, and chassis architecture).
What major strategic investments has NIO secured from CYVN Holdings of Abu Dhabi?
In 2023, CYVN Holdings (an investment arm backed by the Government of Abu Dhabi) invested a total of $3.3 billion in cash ($738.5M in July 2023 and $2.2B in December 2023), acquiring an approximate 20.1% equity stake in NIO and significantly bolstering its liquidity reserves.
What is NIO's total cash and liquidity reserve balance?
NIO reported cash reserves of RMB56.7 billion (US$8.4 billion) at June 30, 2026.
What is the capital expenditure structure for deploying NIO Power Swap Stations?
The installation cost of a 4th-generation NIO Power Swap Station is approximately 1.5 million RMB (~$210,000 USD); NIO partners with energy giants (Sinopec, PetroChina, State Grid) and third-party capital investors to co-fund station network buildouts.
What is Wuhan Weineng Battery Asset Co. and how does it finance NIO's BaaS assets?
Wuhan Weineng (Miracon) is an independent battery asset management corporation co-founded by NIO, CATL, Hubei Science Technology Investment, and Guotai Junan, which purchases battery packs from NIO to lease to BaaS customers, keeping battery asset debt off NIO's balance sheet.
How does NIO manage its net losses and runway toward positive operating cash flow?
NIO manages its net operating loss by scaling vehicle deliveries across ONVO and NIO brands, standardizing vehicle component architectures, optimizing sales and administrative expenses, and monetizing enterprise charging/swap alliances.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "NIO Revenue & Financials." CorpDigest, https://corpdigest.com/company/nio/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>NIO reported ~$12.2B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/nio/financials" target="_blank" rel="noopener">CorpDigest — NIO financials</a></div>Related Financial Audits
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