Li Auto Balance Sheet Health
Financial Health criteria checks 4/6
Li Auto has a total shareholder equity of CN¥66.0B and total debt of CN¥7.2B, which brings its debt-to-equity ratio to 10.8%. Its total assets and total liabilities are CN¥140.7B and CN¥74.7B respectively.
Key information
10.84%
Debt to equity ratio
CN¥7.15b
Debt
| Interest coverage ratio | n/a |
| Cash | CN¥85.59b |
| Equity | CN¥65.96b |
| Total liabilities | CN¥74.72b |
| Total assets | CN¥140.68b |
Recent financial health updates
No updates
Recent updates
Seeking Alpha • Sep 03
Li Auto: Solid Q2 Margin Recovery Indicates Turnaround Potential
Summary Li Auto delivered a modestly robust Q2, beating top line estimates, but seeing revenue pressure due to falling volumes. LI improved its vehicle margin to 9.4% in Q2, and is therefore still trailing the EV competition. Nonetheless, Li Auto's financial and operating performance could be improving if new product launches, such as refreshed L-Series models and the new Li MEGA, become a success. Shares now trade at less than half their historical P/S ratio of 1.14x, reflecting a substantial safety margin amid strong EV market competition and margin pressures. The firm's Q3 delivery guidance suggests improving growth, with new product launches positioning the EV maker to regain ground against competitors. Read the full article on Seeking Alpha
Narrative Update • Sep 03
LI: New Model Cycle And Cost Discipline Will Drive Future Re Rating Potential
Analysts have trimmed their average price target for Li Auto to about $25.13 from roughly $30.54, citing reduced earnings forecasts related to concerns about a relatively weaker upcoming car cycle and pressure on profitability through 2028. What’s in the News for Li Auto Li Auto reported unaudited Q2 2026 results with deliveries of about 98,330 vehicles and an 11% year on year decline in volumes in a crowded China EV market, alongside a net loss and negative operating margins, with some sequential margin improvement.
Narrative Update • Aug 18
LI: Future Returns Will Struggle As Weaker Model Cycle Pressures Margins
Li Auto's updated analyst price target moves slightly lower, reflecting recent cuts from $17.20 to $15.60, $18 to $14 and $22 to $18 as analysts factor in more cautious earnings forecasts, a weaker new car cycle, and a more measured profitability outlook, despite some support from higher priced models. Analyst Commentary Recent research on Li Auto shows a cluster of cautious views, with several price targets adjusted lower and only one move to a more neutral stance.
Narrative Update • Aug 04
LI: Shares Should Recover As New Chip And Overseas Expansion Execution Improve
Li Auto's analyst price target has been adjusted lower, with recent cuts from $22 to $18, $18 to $14, and $17.20 to $15.60, reflecting analysts' more cautious views on earnings, profitability, and the new car cycle, despite some expectation for better near term mix and margins. Analyst Commentary Recent research on Li Auto points to a more cautious tone, although there are still areas that some analysts see as constructive for valuation and execution.Narrative Update • Jul 21
LI: Future Returns Will Struggle With Margin Pressure Despite AI And Model Refresh
Li Auto's updated analyst price target drops from about $14.03 to $10.83, reflecting analysts' more cautious expectations around its new car cycle, profitability, and earnings forecasts, despite some support from recent upgrades and model updates. Analyst Commentary Recent research on Li Auto points to a cautious tone, with several bearish analysts trimming price targets and flagging execution and profitability risks around the current product cycle.Narrative Update • Jul 07
LI: Shares Should Recover As New Chip And Restructuring Execution Improve
Li Auto's updated analyst price target moves lower to $18.55 from $21.18, reflecting analysts' more cautious views on the company's new car cycle, earnings outlook, and profitability, even as some expect mix-driven margin improvement in upcoming quarters. Analyst Commentary Recent research on Li Auto highlights a mix of caution and cautious optimism, with several firms trimming price targets while reassessing the company’s earnings power, product cycle, and margin outlook.Narrative Update • Jun 23
LI: Future Returns Will Balance Margin Pressure With AI And New Model Cycle
Li Auto's analyst price targets have collectively shifted lower by a few dollars to around the mid-teens in dollar terms, as analysts factor in more conservative earnings expectations tied to a softer new car cycle and more cautious views on margins and future profitability. Analyst Commentary Recent Street research on Li Auto points to a more cautious tone, with several bearish analysts trimming price targets and highlighting execution and profitability risks tied to the current new car cycle.Narrative Update • Jun 05
LI: Future Performance Will Balance Margin Pressure With AI And Product Cycle Execution
Li Auto's updated analyst price target moves down from about $15.00 to about $14.00, as analysts adjust their models for softer recent margins and sales, while still acknowledging steadier volumes and potential mix improvement in higher priced models. Analyst Commentary Recent Street research around Li Auto has tilted more cautious, with several bearish analysts trimming price targets and rethinking how much risk investors should be willing to take on execution, margins, and growth.Narrative Update • May 17
LI: Shares Should Recover As Execution Stabilizes And Guidance Concerns Ease
Analysts have nudged their fair value estimate for Li Auto stock down by about $1 to $21.18, reflecting mixed recent research in which some firms trimmed price targets on concerns around near term volume, margins, and model mix, while others issued upgrades at lower valuation multiples. Analyst Commentary Recent Street research around Li Auto highlights a split view, with some analysts emphasizing valuation support and others focusing on execution risks tied to guidance and product mix.Narrative Update • May 02
LI: Future Performance Will Face Margin Pressure From Weaker Sectorwide Demand
Li Auto's updated analyst price target moves modestly higher, with a fair value estimate shifting from about $14.05 to $14.99 as analysts factor in reduced revenue growth expectations, thinner profit margins, a slightly lower discount rate, and a higher assumed future P/E multiple, following a mix of recent downgrades, target cuts, and one upgrade. Analyst Commentary Recent research on Li Auto has tilted more cautious, with several bearish analysts flagging execution and profitability risks that they see as limiting near term upside relative to prior expectations.Narrative Update • Apr 18
LI: Cost Discipline And Model Mix Execution Will Drive Future Re Rating Potential
Li Auto's analyst price targets have edged lower, with cuts such as Morgan Stanley's reduction, Goldman's move to $19, and JPMorgan's revised $15.50 target contributing to a modest fair value reset as analysts factor in softer volume expectations, pressure on vehicle margins, and a higher mix of lower margin models. Analyst Commentary Recent research around Li Auto has shifted toward a more cautious tone, with several high profile firms re-basing expectations on volumes and margins.Narrative Update • Apr 04
LI: Overseas Execution And Mix Management Will Drive Future Re Rating Potential
Li Auto's updated analyst price target has been reduced by about $3.70, with analysts pointing to softer 2026 volume and margin expectations, a higher mix of lower margin models, and recent downgrades that reflect concerns about delivery trends and profit pressure. Analyst Commentary Recent research paints a mixed but still constructive picture around Li Auto, with several firms adjusting price targets and ratings in response to updated 2026 guidance and margin assumptions.Narrative Update • Mar 21
LI: Shares Will Recover As Execution Improves And New Model Cycle Progresses
Li Auto's updated analyst price target reflects a reduced fair value estimate to $22.16, as analysts factor in softer projected revenue growth, thinner profit margins, and a higher assumed future P/E following a series of downgrades and tempered outlooks on deliveries and vehicle economics. Analyst Commentary Recent Street research on Li Auto clusters around concerns on execution and profitability, with pockets of cautious optimism on valuation.Narrative Update • Mar 06
LI: Future Performance Will Face Tougher Deliveries And Sectorwide Demand Headwinds
Analysts have increased their Li Auto fair value estimate slightly to about $14.05 per share. This modest change reflects small adjustments to assumptions on revenue growth, profit margins, discount rate, and future P/E after recent price target cuts and mixed delivery and outlook commentary across Chinese automakers.Narrative Update • Feb 19
LI: Future Performance Will Face Rising Downgrade Risk And Mixed Execution
Li Auto's updated analyst price target has been trimmed by about $0.95 as analysts factor in recent downgrades, reduced fair value estimates, a slightly higher discount rate, and adjusted assumptions around revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research around Li Auto has tilted more cautious, with several firms cutting price targets and a few moving to outright downgrades.Narrative Update • Feb 05
LI: Overseas Execution Will Drive Future Re Rating Potential
Narrative Update on Li Auto Analysts have trimmed their price targets for Li Auto, with our fair value estimate moving from about US$39.04 to US$35.43. They cited more conservative assumptions on revenue growth and profit margins, partially offset by a higher expected future P/E multiple and recent target cuts and a downgrade from several firms.Narrative Update • Jan 22
LI: Future Performance Will Balance Mixed Execution With Global Expansion Uncertainty
Analysts have trimmed their fair value estimate for Li Auto to about $15 from roughly $17, reflecting slightly higher assumed discount rates, modest adjustments to long term revenue growth and profit margins, and a lower future P/E multiple following recent price target cuts, mixed quarterly results, and cautious outlooks in Street research. Analyst Commentary Recent Street research on Li Auto shows a mixed backdrop, with several bearish analysts cutting price targets and flagging execution and growth risks, even as one firm modestly raised its target and maintains a Neutral stance.Narrative Update • Jan 08
LI: Future Performance Will Balance Mixed Outlook With Global Expansion Uncertainty
Narrative Update Analysts have trimmed their Li Auto price targets, with one moving to US$25 and another initiating at US$19. This reflects views that recent mixed results, a weaker near term outlook and questions around the global expansion plan warrant more cautious assumptions on growth, margins and future P/E multiples.Narrative Update • Dec 24
LI: Future Performance Will Balance Domestic EV Pressures And Overseas Expansion Uncertainty
Analysts have modestly reduced their price target on Li Auto to $17, down from about $19.50. They cite increased competitive and policy risks in China as well as uncertainty around the company’s global expansion strategy.Narrative Update • Dec 10
LI: Shares Will Recover As Global Expansion Progress Supports Long Term Upside
Analysts have trimmed their price target on Li Auto by roughly $4 per share to about $19. They cite a slightly higher discount rate and lower future valuation multiples, despite stronger long term revenue growth and margin expectations, amid concerns over the company’s uncertain global expansion strategy and intense competition in China’s auto market.Narrative Update • Nov 26
LI: Shares Will Recover As New Model Launch Supports Sales Momentum
The analyst price target for Li Auto has been revised downward from $28.70 to $28.09. This revision reflects analysts' more cautious revenue growth expectations as well as increased competitive and policy risks in China's electric vehicle market.Narrative Update • Nov 10
LI: Shares Will Rebound As Competitive Pressures Are Met With New Releases
Li Auto's average analyst price target has edged down slightly to just under $28.70. Analysts point to increased competitive pressures and a reduced growth outlook following recent earnings reports.Narrative Update • Oct 27
Rising Competition And Product Launches Will Shape Electric Vehicle Sector Dynamics
Li Auto's analyst price target has been modestly raised to $28.90, reflecting mixed analyst sentiment amid recent downgrades on competitive and growth concerns. However, the upgrade also ties to an improved outlook related to potential product launches and sector positioning.Narrative Update • Oct 13
Battery Electric Vehicles And Intelligent Driving Will Unlock Markets
Li Auto's analyst price target has decreased slightly from approximately $29.30 to $28.87 per share. This adjustment reflects a cautious outlook amid tempered growth expectations and rising competitive pressures, according to recent analyst commentary.Narrative Update • Aug 27
New BEVs And Autonomous Driving To Expand NEV Market Presence
Li Auto's consensus price target has been revised downward to $32.84 due to intensifying competition in China's premium EV market, expected Q2 underperformance, and concerns over demand and margin pressure, reflecting a more cautious fair value outlook. Analyst Commentary Rising competitive pressures in the premium electric SUV and battery electric vehicle markets, with direct competition from established best-sellers like Tesla Model Y and Xiaomi YU7.Seeking Alpha • Apr 17
Li Auto's Selloff Triggers Excellent Buying Opportunity - Reiterate Buy
Summary The macro/geopolitical uncertainties have triggered Li Auto's much needed selloff, as the bulls continue to defend the $22s floor since September 2024. This is especially since the automaker has reported growing deliveries, still healthy profit margins, and richer balance sheet, despite the higher expenses on a YoY basis. With LI expected to launch BEVs while entering numerous international markets in 2025, we may see 2025/2026 bring forth renewed growth opportunities beyond the domestic market. Despite the US' raised tariffs on China to 125%, we maintain our conjecture that it is likely to pose minimal headwinds to China's automotive industry, LI included. Combined with the moderating short interest volume from the 2024 heights and the declining CBOE Volatility Index, it appears that the worst of the selloff may already be here. Read the full article on Seeking AlphaSeeking Alpha • Mar 16
Li Auto Is Improving Safety With Self-Driving Tech
Summary Li Auto's autonomous driving systems, including Li AD Max and Pro, significantly enhance vehicle safety. The company's high volume and rapid tech evolution, powered by Nvidia's DRIVE Thor and Orin systems, help position them as a leader in vehicle safety. Despite revenue and operating income fluctuations, Li Auto's substantial R&D investments in AI and self-driving tech ensure they will continue to be a leader in terms of making roads safer. Read the full article on Seeking AlphaSeeking Alpha • Mar 04
Li Auto: Time To Be Greedy
Summary Li Auto's delivery results for February disappointed as the company only delivered 26,263 electric vehicles, 12% less than in the previous month. Seasonal effects are responsible for the drop-off in deliveries, which should normalize again in March. I maintain a strong buy rating for Li Auto due to its profitability, competitive price-to-revenue ratio, and superior vehicle margins compared to NIO and XPeng. Shares of Li Auto currently trade 33% below the firm's longer term, 3-year average price-to-revenue ratio and have an attractive risk profile. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Li Auto: A Strong Buy Due To MEGA And AI
Summary Li Auto is a highly profitable Chinese EV manufacturer with substantial growth potential, making it a strong competitor to Tesla and BYD. The company's valuation is currently very low, trading below one times sales, making it an attractive investment opportunity. Li Auto's innovative AI and robotics integration, along with its impressive lineup of family-friendly EVs, position it for future success. Despite inherent risks associated with Chinese stocks, Li Auto's solid financials and market position suggest a significant upside in the coming years. Read the full article on Seeking AlphaSeeking Alpha • Dec 31
Li Auto: Consistent Performer And Undervalued
Summary Li Auto, a Beijing-based company founded in 2015 by Xiang Li, focuses on REEV SUVs, offering extended range and leading sales in China. Xiang Li's unique approach contrasts with NIO's, opting for SUV models after the LSEV plan failed due to regulatory issues. Li Auto's financials show strong revenue growth, solid margins, and liquidity, positioning it well for future expansion and benefiting from China's stimulus. Despite risks like the Chinese market and VIE structure, Li Auto's valuation through discounted cash flows and multiples suggests it could be a good investment. Read the full article on Seeking AlphaSeeking Alpha • Nov 20
Li Auto Finally Nears Our Buy Zone, Great 2025 Prospects
Summary LI has retraced as expected, with the bulls seemingly defending the $22s as the new support level. Much of the tailwinds are naturally attributed to the double beat FQ3'24 performance, excellent October 2024/ YTD deliveries, and promising FQ4'24 guidance. This is significantly aided by LI's richer profit margins and growing net cash on balance sheet, allowing the automaker to sustainably fund its growth opportunities domestically/ internationally. The management's 2025 BEV launch and cautious international approaches have been highly prudent, since it allows the automaker to remain profitable compared to its cash burning peers. Even so, we expect LI to continue trading sideways, before sentiments surrounding Chinese EVs improve and the management delivers robust international growth numbers. Read the full article on Seeking AlphaFinancial Position Analysis
Short Term Liabilities: LI's short term assets (CN¥98.5B) exceed its short term liabilities (CN¥54.5B).
Long Term Liabilities: LI's short term assets (CN¥98.5B) exceed its long term liabilities (CN¥20.2B).
Debt to Equity History and Analysis
Debt Level: LI has more cash than its total debt.
Reducing Debt: LI's debt to equity ratio has reduced from 20.4% to 10.8% over the past 5 years.
Debt Coverage: LI's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if LI's interest payments on its debt are well covered by EBIT.
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/15 04:24 |
| End of Day Share Price | 2026/09/15 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Li Auto Inc. is covered by 52 analysts. 29 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Tianli Wen | Aletheia Analyst Network Limited |
| Jiong Shao | Barclays |
| "Jiong Shao | Barclays |