Stock

NIO

Auto - Manufacturers · Consumer Cyclical

Also trades as: 0A1K.L GBP 0.03 (+0.30%)

Price

$3.29

-0.01 (-0.45%)

Market Cap

$7.76B

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

2/30

Growth

Good

12/20

Cash Flow

Weak

0/10

Stability

Weak

0/10

Valuation

Data not available

0/10

Ownership

Good

10/15

Dividends

Not counted

n/a

24 of 95 counted points = Winston Score 25. Pillars marked n/a do not apply to this company and are left out of the total.

Track this stock — start free trial

Share count rising — dilution

+44.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.57B (2021) → 2.27B (2025)

§Winston Score History

The full picture

NIO Inc. is a Chinese electric vehicle company that designs and sells battery-powered cars, SUVs, and sedans. Its main customers are middle-to-upper-income consumers in China, though it has begun selling in select European markets. NIO is best known for its battery swap technology, which lets drivers exchange a depleted battery for a fully charged one in about five minutes instead of waiting to recharge.

NIO makes money by selling vehicles directly to consumers, and it also charges fees through its battery-as-a-service (BaaS) subscription, where customers pay monthly to use swappable batteries rather than owning them outright. The company operates primarily in China, one of the world's most competitive EV markets, where it competes against BYD, Li Auto, and Tesla. NIO is not yet profitable, and its biggest challenge is reaching the sales volume needed to cover its heavy spending on manufacturing, battery swap infrastructure, and new model development.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+69.2% YoY

YoY Growth Rate

Revenue accelerating

Reported EPS Growth

+87.4% YoY

Quarterly reporting periods ended:

30 Jun 2025: ¥-2.31

30 Jun 2026: ¥-0.29

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

¥10.6B/ year

↓ Declining (-19% vs prior year)

12.1% of revenue

3.0x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

23.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

¥59.0B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

NIO grew revenue 69% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

18.4%

Thin — 18.4% gross margin

Profit after running costs

Operating Margin

-2.1%

Losing money on operations — -2.1%

Return on the money invested

ROCE

-11.1%

Weak — -11.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+64.4%

Fast-growing sales (+64.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-40.9%

Burning cash (-40.9%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

7.13

Heavy debt load (7.13)

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial