← NIO Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | — | $7.5b | $455.8m | $123.9m | $5.9b | $2.4b | $2.9b | $4.6b | $2.6b | $1.6b | |
| Prepaid Expense and Other Assets, Current | — | $674.4m | $220.2m | $226.8m | $218.0m | $290.9m | $325.7m | $483.8m | $497.7m | $694.1m | |
| Short-term Investments | — | — | $749.7m | $15.9m | $605.5m | $5.8b | $2.8b | $2.4b | $1.9b | $2.8b | |
| Cash and cash equivalents | — | — | $3.1b | $862.8m | $38.4b | $15.3b | $19.9b | $32.9b | $19.3b | $11.3b | |
| 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) | — | — | $756.5m | $1.4b | $1.1b | $2.8b | $5.1b | $4.7b | $1.7b | $1.4b | |
| 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) | — | — | $1.5b | $1.6b | $1.4b | $1.9b | $2.2b | $3.4b | $3.6b | $4.9b | |
| Inventory, Net | — | $89.5m | $213.1m | $127.8m | $165.8m | $322.7m | $1.2b | $743.4m | $970.9m | $1.2b | |
| Assets, Current | — | $8.3b | $1.8b | $707.9m | $7.1b | $10.0b | $8.6b | $9.9b | $8.5b | $11.0b | |
| Total current assets | — | — | $12.2b | $4.9b | $46.2b | $63.6b | $59.1b | $70.4b | $61.9b | $76.6b | |
| Long-term investments | — | — | $148.3m | $115.3m | $300.1m | $3.1b | $6.4b | $5.5b | $3.1b | $2.5b | |
| Property, Plant and Equipment, Net | — | $1.9b | $705.9m | $794.8m | $765.7m | $1.2b | $2.3b | $3.5b | $3.5b | $3.7b | |
| Intangible Assets, Net (Excluding Goodwill) | — | — | — | — | — | — | — | $4.2m | $4.1m | $4.2m | |
| Intangible assets, net | — | — | $3.5m | $1.5m | $613k | — | — | $29.6m | $29.6m | $29.6m | |
| Operating Lease, Right-of-Use Asset | — | — | — | $286.9m | $206.9m | $468.9m | $1.1b | $1.6b | $1.8b | $1.7b | |
| Other Assets, Noncurrent | — | $131.1m | $205.5m | $251.8m | $239.3m | $878.6m | $1.1b | $687.8m | $489.5m | $1.1b | |
| Right-of-use assets - operating lease | — | — | — | $2.0b | $1.4b | $3.0b | $7.4b | $11.4b | $12.8b | $11.7b | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | — | — | — | $194.2m | $172.2m | $443.0m | $742.1m | $656.0m | $229.6m | $199.4m | |
| Restricted cash | — | — | $57.0m | $82.5m | $78.0m | $3.0b | $3.2b | $5.5b | $8.3b | $14.7b | |
| 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) | — | — | — | — | — | $1.6b | $1.4b | $1.7b | $7.7b | $16.1b | |
| Long-term restricted cash | — | — | $33.5m | $44.5m | $41.5m | $46.4m | $113.5m | $144.1m | $97.7m | $88.3m | |
| Land use rights, net | — | — | $213.7m | $208.8m | $204.0m | $199.1m | $212.6m | $207.3m | $202.0m | $196.7m | |
| 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) | — | — | $1.4b | $1.8b | $1.6b | $5.6b | $7.4b | $4.9b | $3.6b | $7.4b | |
| Short-term borrowings | — | — | $1.9b | $885.6m | $1.6b | $5.2b | $4.0b | $5.1b | $5.7b | $4.7b | |
| Trade and notes payable | — | — | — | $3.1b | $6.4b | $12.6b | $25.2b | $29.8b | $34.4b | $53.3b | |
| Amounts due to related parties, current | — | — | — | — | — | — | $384.6m | $561.6m | $409.4m | $625.9m | |
| Taxes payable | — | — | $51.3m | $44.0m | $181.7m | $627.8m | $286.3m | $349.3m | $400.1m | $439.2m | |
| Current portion of operating lease liabilities | — | — | — | $608.7m | $547.1m | $744.6m | $1.0b | $1.7b | $1.9b | $2.2b | |
| Current portion of long-term borrowings | — | — | $198.9m | $322.4m | $380.6m | $2.1b | $1.2b | $4.7b | $3.4b | $656.0m | |
| Accruals and other liabilities | — | — | $3.4b | $4.2b | $4.6b | $7.2b | $13.7b | $15.6b | $16.0b | $16.7b | |
| Non-current operating lease liabilities | — | — | — | $1.6b | $1.0b | $2.3b | $6.5b | $10.1b | $11.3b | $10.1b | |
| Other non-current liabilities | — | — | $930.8m | $1.2b | $1.8b | $3.5b | $5.1b | $6.7b | $9.0b | $14.3b | |
| Redeemable non-controlling interests | — | — | $1.3b | $1.5b | $4.7b | $3.3b | $3.6b | $3.9b | $7.4b | $8.6b | |
| Ordinary shares | — | — | $1.8m | $1.8m | $2.7m | $2.9m | $2.9m | $3.6m | $3.7m | $4.3m | |
| Less: Treasury shares (3,472,933 and 2,951,528 shares as of December 31, 2024 and 2025, respectively) | — | — | ($9.2m) | $0 | $0 | ($1.8b) | ($1.8b) | ($1.8b) | ($239.3m) | ($123.9m) | |
| Non-controlling interests | — | — | ($15.9m) | $22.1m | $2.1m | $75.6m | $221.4m | $189.4m | $97.5m | ($18.8m) | |
| Accrued Liabilities, Current | — | $199.1m | $308.5m | $605.7m | $705.6m | $1.1b | $2.0b | $2.2b | $2.2b | $2.4b | |
| AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | — | — | — | — | — | $24.2m | $746.3m | $0 | — | — | |
| Total non-current assets | — | — | $6.7b | $9.7b | $8.4b | $19.2b | $37.1b | $47.0b | $45.7b | $47.8b | |
| Total non-current liabilities | — | — | $2.1b | $9.9b | $8.8b | $15.6b | $22.8b | $30.0b | $31.8b | $33.1b | |
| Total mezzanine equity | — | — | $1.3b | $1.5b | $4.7b | $3.3b | $3.6b | $3.9b | $7.4b | $8.6b | |
| Total NIO Inc. shareholders' equity | — | — | $6.8b | ($6.3b) | $27.2b | $34.7b | $23.9b | $25.5b | $6.0b | $4.2b | |
| Total shareholders' equity | — | — | $6.8b | ($6.3b) | $27.2b | $34.8b | $24.1b | $25.7b | $6.1b | $4.1b | |
| Assets | — | $10.5b | $2.7b | $2.1b | $8.4b | $13.0b | $14.0b | $16.5b | $14.7b | $17.8b | |
| Total assets | — | — | $18.8b | $14.6b | $54.6b | $82.9b | $96.3b | $117.4b | $107.6b | $124.4b | |
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Operating Lease, Liability, Current | — | — | — | $87.4m | $83.9m | $116.8m | $148.8m | $245.5m | $266.6m | $309.4m | |
| Accounts Payable, Current | — | $234.0m | $417.4m | $447.0m | — | — | — | — | — | — | |
| Long-term Debt, Current Maturities | — | — | $28.9m | $46.3m | $58.3m | $324.5m | $179.5m | $667.1m | $465.5m | $93.8m | |
| Operating Lease, Liability, Noncurrent | — | — | — | $229.6m | $155.6m | $363.6m | $944.9m | $1.4b | $1.5b | $1.4b | |
| Long-term Debt, Excluding Current Maturities | — | $642.4m | $169.9m | $1.0b | $910.1m | $1.5b | $1.6b | $1.8b | $1.6b | $1.2b | |
| Deferred Revenue, Current | — | $0 | $108.2m | — | — | — | — | — | — | — | |
| Deferred Revenue, Noncurrent | — | $0 | $193.5m | — | — | — | — | — | — | — | |
| Liabilities, Current | — | $1.6b | $1.2b | $1.4b | $2.1b | $4.6b | $6.6b | $8.1b | $8.5b | $11.2b | |
| Total current liabilities | — | — | $8.6b | $9.5b | $14.0b | $29.2b | $45.9b | $57.8b | $62.3b | $78.6b | |
| Deferred Income Tax Liabilities, Net | — | — | — | — | — | $4.0m | $31.6m | $29.9m | $17.5m | $16.1m | |
| Other Liabilities, Noncurrent | — | $141.1m | $135.4m | $165.4m | $283.5m | $555.6m | $745.8m | $938.6m | — | — | |
| Deferred tax liabilities | — | — | — | — | — | $25.2m | $218.2m | $212.3m | $127.5m | $112.7m | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | $25.2m | $218.2m | $212.3m | $127.5m | $112.7m | |
| Liabilities | — | $2.4b | $1.6b | $2.8b | $3.5b | $7.0b | $9.9b | $12.4b | $12.9b | $16.0b | |
| Total liabilities | — | — | $10.7b | $19.4b | $22.8b | $44.8b | $68.6b | $87.8b | $94.1b | $111.7b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | — | — | $193.3m | $209.1m | $719.0m | $514.4m | $515.7m | $543.7m | $1.0b | $1.2b | |
| Stockholders’ equity: | |||||||||||
| Common Stock, Value, Issued | — | $60k | — | — | — | — | — | — | — | — | |
| Additional Paid in Capital | — | $131.9m | $6.1b | $5.8b | $12.1b | $14.5b | $13.7b | $16.6b | $16.3b | $18.8b | |
| Retained Earnings (Accumulated Deficit) | — | ($11.7b) | ($5.1b) | ($6.7b) | ($7.9b) | ($8.7b) | ($10.1b) | ($12.8b) | ($15.5b) | ($18.3b) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | ($13.9m) | ($5.0m) | ($29.2m) | ($10.0m) | ($43.4m) | $150.2m | $61.0m | $79.8m | $82.9m | |
| Treasury Stock, Common, Value | — | — | — | — | — | — | $268.2m | $260.5m | $32.8m | $17.7m | |
| Accumulated other comprehensive income | — | — | ($34.7m) | ($203.0m) | ($65.5m) | ($276.3m) | $1.0b | $433.0m | $582.7m | $579.8m | |
| Accumulated deficit | — | — | ($35.0b) | ($46.3b) | ($51.6b) | ($55.6b) | ($69.9b) | ($90.8b) | ($113.1b) | ($128.0b) | |
| Stockholders' Equity Attributable to Parent | — | ($11.6b) | $994.4m | ($904.9m) | $4.2b | $5.4b | $3.5b | $3.6b | $817.5m | $594.8m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $11.3m | ($2.3m) | $3.2m | $326k | $11.9m | $32.1m | $26.7m | $13.4m | ($2.7m) | |
| Liabilities and Equity | — | $10.5b | $2.7b | $2.1b | $8.4b | $13.0b | $14.0b | $16.5b | $14.7b | $17.8b | |
| Total liabilities, mezzanine equity and shareholders' equity | — | — | $18.8b | $14.6b | $54.6b | $82.9b | $96.3b | $117.4b | $107.6b | $124.4b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.