Company Valuation: NIO Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 320,103 111,124 133,772 66,096 88,263 78,568 - -
Change - -65.29% 20.38% -50.59% 33.54% -10.98% - -
Enterprise Value (EV) 1 282,681 88,228 106,892 63,937 86,219 57,271 47,358 36,888
Change - -68.79% 21.15% -40.18% 34.85% -33.57% -17.31% -22.11%
P/E -29.9x -7.56x -5.17x -2.89x -5.21x -40.3x 49.1x 17.8x
PBR 9.53x 4.61x 4.28x 11x 19.5x 8.73x 7.35x 5.33x
PEG - -0.2x -0.1x 0.3x 0.1x 0.5x -0x 0x
Capitalization / Revenue 8.86x 2.26x 2.41x 1.01x 1.01x 0.58x 0.5x 0.45x
EV / Revenue 7.82x 1.79x 1.92x 0.97x 0.99x 0.42x 0.3x 0.21x
EV / EBITDA -101x -8.41x -6.32x -4.54x -12.5x 6.84x 3.9x 2.47x
EV / EBIT -62.9x -5.64x -5.27x -3.21x -6.14x -75.9x 23.9x 7.78x
EV / FCF -134x -8.14x -6.8x -3.76x -28.1x 23.1x 5.06x 5x
FCF Yield -0.75% -12.3% -14.7% -26.6% -3.56% 4.33% 19.8% 20%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -6.72 -8.89 -12.44 -11.03 -6.85 -0.778 0.6389 1.762
Distribution rate - - - - - - - -
Net sales 1 36,136 49,269 55,618 65,732 87,488 135,692 157,065 175,510
EBITDA 1 -2,788 -10,492 -16,908 -14,070 -6,895 8,368 12,153 14,915
EBIT 1 -4,496 -15,641 -20,286 -19,946 -14,041 -754.5 1,978 4,742
Net income 1 -10,572 -14,559 -21,147 -22,658 -15,571 -1,629 1,109 4,095
Net Debt 1 -37,422 -22,896 -26,881 -2,159 -2,044 -21,297 -31,210 -41,680
Reference price 2 201.25 67.25 64.31 31.82 35.67 31.39 31.39 31.39
Nbr of stocks (in thousands) 1,590,573 1,652,453 2,079,974 2,076,918 2,474,328 2,502,715 - -
Announcement Date 3/24/22 3/1/23 3/5/24 3/21/25 3/10/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
295.44x11.99x86.02x-.--% 1,293B
18.64x0.82x5.8x0.5% 117B
-6.45x3.37x-12.98x-.--% 22.82B
34.24x0.18x3.53x0.49% 14.73B
-68.11x0.2x5.98x-.--% 12.68B
-23.55x0.6x-82.05x-.--% 11.53B
-2.17x2.99x-7.89x - 7.79B
14.01x0.24x5.96x-.--% 7.32B
Average 32.76x 2.55x 0.55x 0.14% 185.82B
Weighted average by Cap. 257.95x 10.57x 74.51x 0.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield