Recent News
Jun 23, 2026 — Li Auto launched the all-new Li L8 with deliveries scheduled to begin that week. Jun 1, 2026 — the company reported May deliveries of 33,350 vehicles, bringing cumulative deliveries to 1,702,792 as of May 31, 2026. May 29, 2026 — the company reported results of its annual general meeting. Apr 30–May 1, 2026 — Li Auto published April delivery figures of 34,085 vehicles and ongoing retail/service network expansion across Chinese cities.
Technical Analysis
Directional strength: ADX at 33.68 signals a strong trend environment (ADX measures trend strength, not direction). Directional indicators align bearish: DI+ sits at 20.33 and experienced a peak-and-reverse, while DI– at 47.21 showed a dip-and-reverse; both behaviors point toward downside-directional pressure.
Momentum breadth: MACD equals –0.96 and registered a peak-and-reverse; MACD remains below its signal line (MACD signal –0.87), indicating continuing bearish momentum rather than a bullish cross.
MRO and RSI implications: MRO at –33.25 places price below the oscillator’s target and implies upside potential toward the target; the magnitude signals meaningful mean-reversion scope. RSI at 35.32 peaked and reversed, signaling bearish pressure but proximity to oversold territory that could support a counter-move if selling momentum abates.
Price vs moving averages and cloud: Last close $12.63 falls under the 12-day EMA $13.78 (decreasing), 26-day EMA $14.78, 20-day average $13.92, 50-day average $16.53 and 200-day average $18.71. Ichimoku components (Tenkan $13.75, Kijun $16.20, Senkou A $18.30, Senkou B $18.09) place price below the cloud and both key averages, reinforcing a bearish short-to-intermediate technical posture.
Volatility & levels: 20-day Bollinger bands center near $13.92 with upper/lower 1x deviations at $14.68 and $13.16 and 2x deviations at $15.44 and $12.40; the close sits just above the 2x lower band, suggesting support around $12.40 and resistance near the super-trend upper at $13.79. Volume at 5.80M versus 10-day avg 3.71M shows above-average participation on recent sessions.
Fundamental Analysis
Profitability: EBIT equals $-2,560,522,000 and operating income equals $-2,998,790,000, producing an EBIT margin of –11.14% (down 319.31% QoQ and down 4.51% YoY). Gross margin stands at 7.87% (declined QoQ and YoY), and operating margin equals –13.05%. Return on equity equals –3.27% and return on assets equals –1.53%.
Earnings and consensus: Reported EPS registered $-2.26 versus an estimate of $-2.02, an EPS surprise of –11.88%. Forward EPS reads $0.257, producing a forward P/E of 69.47x while trailing P/E remains negative at –7.87x. Forward P/E sits modestly above the industry peer mean value provided.
Liquidity and cash generation: Cash and short-term investments total $93.11 billion; cash alone equals $42.82 billion. Current ratio equals 1.88 and quick ratio 1.75, consistent with adequate near-term liquidity. Free cash flow reached $3.52 billion, with a free cash flow yield of 9.69%—a material positive relative to peers’ averages provided.
Leverage and capital structure: Total debt equals $17.74 billion; debt-to-assets at 12.27% and debt-to-equity at 25.31% sit below the industry peer mean levels reported, indicating a conservative balance of debt on the balance sheet.
Operational metrics: Revenue totaled $22.98 billion with YoY revenue contraction of 51.42% reported in the supplied figure; asset turnover equals 0.1538. Days payable outstanding near 115 days and a negative cash conversion cycle of about –84 days reflect the company’s working-capital profile and supplier payment dynamics.
Peer comparisons where provided: EBIT margin at –11.14% sits above the industry peer low of –52.55% but below the industry peer mean of 2.76% and median of 3.75%. P/B at 0.52x lies below the industry peer mean of 1.07x while exceeding the industry peer median of 0.387x. Gross margin at 7.87% trails the industry peer mean of 20.78%.
Valuation summary: The current valuation, as determined by WMDST, classifies the stock as under-valued. The case rests on robust cash reserves, positive free cash flow yield near 9.7%, and moderate leverage despite negative near-term profitability metrics and a elevated forward P/E.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-28 |
| NEXT REPORT DATE: | 2026-08-27 |
| CASH FLOW | Begin Period Cash Flow | $ 51.3 B |
| Operating Cash Flow | $ 3.5 B | |
| Capital Expenditures | — | |
| Change In Working Capital | $ 5.8 B | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 5.6 B | |
| End Period Cash Flow | $ 56.9 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 23.0 B | |
| Forward Revenue | $ -1.32 B | |
| COSTS | ||
| Cost Of Revenue | $ 21.2 B | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | $ 2.7 B | |
| Total Operating Expenses | $ 26.0 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.8 B | |
| EBITDA | $ -2.56 B | |
| EBIT | $ -2.56 B | |
| Operating Income | $ -3.00 B | |
| Interest Income | $ 394.0 M | |
| Interest Expense | $ 40.7 M | |
| Net Interest Income | $ 353.4 M | |
| Income Before Tax | $ -2.60 B | |
| Tax Provision | $ -325.15 M | |
| Tax Rate | 12.5 % | |
| Net Income | $ -2.29 B | |
| Net Income From Continuing Operations | $ -2.29 B | |
| EARNINGS | ||
| EPS Estimate | $ -2.02 | |
| EPS Actual | $ -2.26 | |
| EPS Difference | $ -0.24 | |
| EPS Surprise | -11.881 % | |
| Forward EPS | $ 0.26 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 144.6 B | |
| Intangible Assets | $ 1.2 B | |
| Net Tangible Assets | $ 68.9 B | |
| Total Current Assets | $ 105.6 B | |
| Cash and Short-Term Investments | $ 93.1 B | |
| Cash | $ 42.8 B | |
| Net Receivables | $ 129.0 M | |
| Inventory | $ 7.0 B | |
| Long-Term Investments | $ 1.8 B | |
| LIABILITIES | ||
| Accounts Payable | $ 36.0 B | |
| Short-Term Debt | $ 6.2 B | |
| Total Current Liabilities | $ 56.2 B | |
| Net Debt | — | |
| Total Debt | $ 17.7 B | |
| Total Liabilities | $ 74.0 B | |
| EQUITY | ||
| Total Equity | $ 70.1 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 34.27 | |
| Shares Outstanding | 2.045 B | |
| Revenue Per-Share | $ 11.24 | |
| VALUATION | Market Capitalization | $ 36.4 B |
| Enterprise Value | $ -39.01 B | |
| Enterprise Multiple | 15.236 | |
| Enterprise Multiple QoQ | -100.329 % | |
| Enterprise Multiple YoY | -130.272 % | |
| Enterprise Multiple IPRWA | high: 87.663 LI: 15.236 mean: 9.012 median: 0.714 low: -138.184 |
|
| EV/R | -1.697 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.063 | |
| Asset To Liability | 1.955 | |
| Debt To Capital | 0.202 | |
| Debt To Assets | 0.123 | |
| Debt To Assets QoQ | 6.271 % | |
| Debt To Assets YoY | 21.425 % | |
| Debt To Assets IPRWA | high: 0.644 mean: 0.144 LI: 0.123 low: 0.111 median: 0.111 |
|
| Debt To Equity | 0.253 | |
| Debt To Equity QoQ | 3.188 % | |
| Debt To Equity YoY | 11.163 % | |
| Debt To Equity IPRWA | high: 6.121 mean: 0.432 LI: 0.253 median: 0.189 low: 0.185 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.519 | |
| Price To Book QoQ | 3.12 % | |
| Price To Book YoY | -29.583 % | |
| Price To Book IPRWA | high: 4.594 mean: 1.065 LI: 0.519 median: 0.387 low: 0.005 |
|
| Price To Earnings (P/E) | -7.867 | |
| Price To Earnings QoQ | -100.436 % | |
| Price To Earnings YoY | -118.678 % | |
| Price To Earnings IPRWA | high: 294.586 mean: 70.617 median: 19.033 LI: -7.867 low: -29.095 |
|
| PE/G Ratio | 0.0 | |
| Price To Sales (P/S) | 1.582 | |
| Price To Sales QoQ | 24.584 % | |
| Price To Sales YoY | -22.5 % | |
| Price To Sales IPRWA | high: 33.606 mean: 8.312 LI: 1.582 median: 1.165 low: 0.017 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 69.474 | |
| Forward PE/G | -0.003 | |
| Forward P/S | -27.566 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1267.488 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.154 | |
| Asset Turnover Ratio QoQ | -17.846 % | |
| Asset Turnover Ratio YoY | -3.839 % | |
| Asset Turnover Ratio IPRWA | high: 0.31 mean: 0.16 median: 0.159 LI: 0.154 low: 0.016 |
|
| Receivables Turnover | 184.729 | |
| Receivables Turnover Ratio QoQ | -29.162 % | |
| Receivables Turnover Ratio YoY | -27.449 % | |
| Receivables Turnover Ratio IPRWA | LI: 184.729 high: 24.425 median: 5.246 mean: 5.056 low: 0.676 |
|
| Inventory Turnover | 2.683 | |
| Inventory Turnover Ratio QoQ | -3.69 % | |
| Inventory Turnover Ratio YoY | 18.967 % | |
| Inventory Turnover Ratio IPRWA | LI: 2.683 high: 2.416 mean: 1.374 median: 1.317 low: 0.044 |
|
| Days Sales Outstanding (DSO) | 0.494 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -84.221 | |
| Cash Conversion Cycle Days QoQ | -4.652 % | |
| Cash Conversion Cycle Days YoY | -456.527 % | |
| Cash Conversion Cycle Days IPRWA | high: 303.712 mean: 22.123 median: 14.548 LI: -84.221 low: -139.401 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.465 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 73.9 B | |
| Net Invested Capital | $ 80.0 B | |
| Invested Capital | $ 80.0 B | |
| Net Tangible Assets | $ 68.9 B | |
| Net Working Capital | $ 49.4 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.657 | |
| Current Ratio | 1.879 | |
| Current Ratio QoQ | 3.598 % | |
| Current Ratio YoY | 0.51 % | |
| Current Ratio IPRWA | high: 2.969 median: 2.043 mean: 1.961 LI: 1.879 low: 0.242 |
|
| Quick Ratio | 1.754 | |
| Quick Ratio QoQ | 4.641 % | |
| Quick Ratio YoY | 1.972 % | |
| Quick Ratio IPRWA | high: 3.597 LI: 1.754 median: 1.62 mean: 1.556 low: 0.306 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -6.927 | |
| Cost Of Debt | 0.2 % | |
| Interest Coverage Ratio | -62.977 | |
| Interest Coverage Ratio QoQ | -23489.816 % | |
| Interest Coverage Ratio YoY | -469.145 % | |
| Interest Coverage Ratio IPRWA | high: 54.646 median: 9.13 mean: 7.951 LI: -62.977 low: -66.626 |
|
| Operating Cash Flow Ratio | 0.063 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 115.177 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -6.306 % | |
| Revenue Growth | -20.13 % | |
| Revenue Growth QoQ | -490.495 % | |
| Revenue Growth YoY | -51.424 % | |
| Revenue Growth IPRWA | high: 136.323 % mean: -8.784 % median: -15.437 % LI: -20.13 % low: -75.561 % |
|
| Earnings Growth | -22700.0 % | |
| Earnings Growth QoQ | 22239.661 % | |
| Earnings Growth YoY | 27831.93 % | |
| Earnings Growth IPRWA | high: 55.172 % median: -18.0 % mean: -28.82 % low: -567.5 % LI: -22700.0 % |
|
| MARGINS | ||
| Gross Margin | 7.867 % | |
| Gross Margin QoQ | -55.878 % | |
| Gross Margin YoY | -61.649 % | |
| Gross Margin IPRWA | high: 51.834 % mean: 20.777 % median: 20.582 % LI: 7.867 % low: -10.499 % |
|
| EBIT Margin | -11.141 % | |
| EBIT Margin QoQ | -31931.429 % | |
| EBIT Margin YoY | -451.119 % | |
| EBIT Margin IPRWA | high: 29.59 % median: 3.752 % mean: 2.759 % LI: -11.141 % low: -52.547 % |
|
| Return On Sales (ROS) | -13.048 % | |
| Return On Sales QoQ | 748.375 % | |
| Return On Sales YoY | -511.22 % | |
| Return On Sales IPRWA | high: 29.878 % median: 4.203 % mean: 2.718 % LI: -13.048 % low: -63.794 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 3.5 B | |
| Free Cash Flow Yield | 9.686 % | |
| Free Cash Flow Yield QoQ | -170.814 % | |
| Free Cash Flow Yield YoY | -401.369 % | |
| Free Cash Flow Yield IPRWA | LI: 9.686 % high: 7.609 % median: 0.098 % mean: -0.372 % low: -48.048 % |
|
| Free Cash Growth | -170.463 % | |
| Free Cash Growth QoQ | 425.699 % | |
| Free Cash Growth YoY | -38.901 % | |
| Free Cash Growth IPRWA | high: 126.772 % mean: 2.223 % median: 1.69 % LI: -170.463 % low: -358.701 % |
|
| Free Cash To Net Income | -1.538 | |
| Cash Flow Margin | 50.827 % | |
| Cash Flow To Earnings | -1.538 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -1.532 % | |
| Return On Assets QoQ | — | |
| Return On Assets YoY | -482.045 % | |
| Return On Assets IPRWA | high: 6.178 % median: 0.339 % mean: 0.209 % LI: -1.532 % low: -13.23 % |
|
| Return On Capital Employed (ROCE) | -2.897 % | |
| Return On Equity (ROE) | -0.033 | |
| Return On Equity QoQ | — | |
| Return On Equity YoY | -460.994 % | |
| Return On Equity IPRWA | high: 0.435 median: 0.006 mean: 0.003 LI: -0.033 low: -0.197 |
|
| DuPont ROE | -3.209 % | |
| Return On Invested Capital (ROIC) | -2.8 % | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | -427.103 % | |
| Return On Invested Capital IPRWA | high: 6.178 % median: 0.595 % mean: 0.429 % LI: -2.8 % low: -9.767 % |
|