NIO (NIO): analysis in plain words
Is NIO cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
NIO (NIO) is listed on the NYSE and we classify it in automotive. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against NIO according to those figures, and the questions people ask most about the stock. No buy or sell tips.
NIO (NIO) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $3.30 | Last price on November 4, 2026 |
| P/E ratio (TTM) | N/A | Price over earnings per share |
| Revenue growth | +69.1% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | -4.2% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $8.3 billion | What the stock market values it at |
The NIO figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any NIO figure that is not available shows as N/A: we do not estimate it.
How NIO makes money
NIO builds and sells electric cars in China under three brands: premium NIO, family-focused ONVO and small-car brand firefly. Vehicle sales are its main revenue source, with the rest from services such as its battery-swap station network, battery subscriptions and parts. Its ADRs trade in New York.
Over the last 12 months, NIO brought in revenue of CNY 114.1 billion. For every 100 it sells, NIO keeps 17.4 after the direct cost of what it sells (gross margin) and -1.1 after all operating costs (operating margin). With 35,032 full-time employees, that is about CNY 3 million of revenue per employee.
NIO against its sector
To know whether a NIO figure is high or low you have to put it next to similar companies. This table compares NIO with the median of the 5 automotive companies Fintols covers, with data as of November 4, 2026.
| Figure | NIO | automotive median |
|---|---|---|
| Revenue growth | +69.1% | +1.1% (11) |
| Net margin | -4.2% | 0.5% (11) |
| Dividend yield | 0.00% | 0.82% (11) |
| Net debt / EBITDA | -4.1x | 5.9x (9) |
In short, against the typical automotive company, NIO grows faster, earns a thinner margin and pays a lower dividend yield. By size, NIO ranks number 5 of 6 automotive companies quoted in USD on Fintols.
The bull case for NIO
What works in favour of NIO, according to its figures as of November 4, 2026:
- NIO grew sales +69.1% in its latest quarter against the same quarter a year earlier, while the median automotive company Fintols tracks grew +1.1%.
- NIO holds more cash than debt (net cash), so it does not depend on lenders to keep investing and is better placed to ride out a bad year.
The main risk for NIO
NIO is losing money: its net margin over the last 12 months is -4.2%, so it spends more than it brings in. Until it turns a profit it relies on its cash or on raising money.
On top of that: nIO stock sits 56% below its 52-week high ($7.54): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of automotive, NIO is exposed to the electric-car price war, tariffs and how cyclical car sales are.
Frequently asked questions about NIO
Is it a good time to buy NIO stock?
Fintols does not tell you whether to buy or sell NIO, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, NIO stock trades at $3.30, 56% below its 52-week high ($7.54) and 4% above its low ($3.16). With NIO, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does NIO pay a dividend?
No. As of November 4, 2026, NIO does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying NIO today is counting on the share price rising, not on income.
Is NIO stock expensive?
NIO has no meaningful P/E as of November 4, 2026 because its last 12 months of earnings are negative or close to zero, so that yardstick cannot tell you whether it is expensive. Including its debt, NIO is valued at 1.2x its EBITDA (EV/EBITDA). A high P/E alone does not make NIO expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are NIO's competitors?
On Fintols we compare NIO with Lucid, Stellantis and BMW, which are also in automotive. As of November 4, 2026, Lucid is worth $1.3 billion; Stellantis is worth €12.1 billion; BMW is worth €36.5 billion and trades on a P/E of 5.9. Each has a side-by-side comparison with NIO below.
NIO competitors
- Lucid (LCID) analysis · NIO vs Lucid comparison
- Stellantis (STLAM.MI) analysis · NIO vs Stellantis comparison
- BMW (BMW.DE) analysis · NIO vs BMW comparison
To understand NIO better
- How to Read a Balance Sheet: A Beginner's Guide
- 7 Common Beginner Investing Mistakes (and How to Avoid Them)
More companies like NIO: automotive stocks. Open the full NIO analysis with its valuation and scenarios. Educational content about NIO, not investment advice.