Executive Summary
NIO reported Q3 2024 revenue of 18.673b CNY, representing a YoY decline of 2.06% but a QoQ rise of 7.04%. The quarter delivered a gross profit of 2.007b CNY on a gross margin of 10.75%, yet the company remains firmly in the red on a bottom-line basis with net income of -5.141b CNY and an EPS of -2.50. Operating income stood at -5.238b CNY, with EBITDA at -4.818b CNY, underscoring intensified R&D and selling/general expenses as the company continues to invest in its vehicle platforms, energy services, and battery programs. The balance sheet shows a substantial liquidity buffer with cash and short-term investments reported at 37.15b CNY and total liabilities of ~87.92b CNY against ~11.35b CNY of equity, yielding leverage characteristics typical of a high-capex growth cycle in a competitive EV market. Management commentary (where available) is not provided in the dataset, thus forward-looking remarks rely on the industry context and the observed quarterly trajectory. Investors should weigh near-term negative profitability against ongoing investments aimed at scale, technology differentiation, and service ecosystem expansion.
Key Performance Indicators
QoQ: -0.30% | YoY:-11.08%
Key Insights
Revenue: 18.673b CNY (YoY -2.06%, QoQ +7.04). Gross Profit: 2.007b CNY (YoY +31.78%, QoQ +18.87%). Gross Margin: 10.75%. Operating Income: -5.238b CNY (YoY -8.13%, QoQ -0.55%). Net Income: -5.141b CNY (YoY -11.08%, QoQ -0.30%). EPS: -2.50 (YoY +6.37%, QoQ 0%). R&D: 3.318b CNY. SG&A: 4.109b CNY. Operating Expenses: 7.245b CNY. Interest Expense: 0.204b CNY. Net Debt: 10.087b CNY (per reported figure). Current Ratio: 1.05; Quick Ratio: 0.93; Cash Position: 37.15b CNY in cash and short-term ...
Financial Highlights
Revenue: 18.673b CNY (YoY -2.06%, QoQ +7.04). Gross Profit: 2.007b CNY (YoY +31.78%, QoQ +18.87%). Gross Margin: 10.75%. Operating Income: -5.238b CNY (YoY -8.13%, QoQ -0.55%). Net Income: -5.141b CNY (YoY -11.08%, QoQ -0.30%). EPS: -2.50 (YoY +6.37%, QoQ 0%). R&D: 3.318b CNY. SG&A: 4.109b CNY. Operating Expenses: 7.245b CNY. Interest Expense: 0.204b CNY. Net Debt: 10.087b CNY (per reported figure). Current Ratio: 1.05; Quick Ratio: 0.93; Cash Position: 37.15b CNY in cash and short-term investments. Total Debt: 33.88b CNY; Total Assets: 103.99b CNY; Total Liabilities: 87.92b CNY; Equity: 11.35b CNY. Valuation metrics point to a challenging earnings multiple framework given negative earnings (P/E negative) and an Enterprise Value multiple of -22.63.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
18.67B |
-2.06% |
7.04% |
| Gross Profit |
2.01B |
31.78% |
18.87% |
| Operating Income |
-5.24B |
-8.13% |
-0.55% |
| Net Income |
-5.14B |
-11.08% |
-0.30% |
| EPS |
-2.50 |
6.37% |
0.00% |
Key Financial Ratios
operatingProfitMargin
-28%
Management Commentary
No QQ3 2024 earnings call transcript was provided in the data. Consequently, no management quotes or explicit forward-looking targets could be extracted from a transcript in this dataset. Insights below reflect the numerical results and general market context rather than verbatim management commentary.
Forward Guidance
No explicit forward guidance appears in the provided data for QQ3 2024. In the absence of direct management targets, the assessment focuses on typical industry drivers for NIO: (1) sustaining and monetizing the Power/energy ecosystem (Power Swap, Power Home, Power Charger, etc.), (2) advancing R&D productivity to support new models and platform efficiencies, (3) improving gross margins through mix shifts and operating leverage, and (4) maintaining liquidity to fund capex and EV infrastructure expansion. Management would be expected to: a) outline milestones for cost containment and cash burn reduction, b) provide targets for gross margin improvement and operating leverage, and c) discuss capacity expansion plans and timing for new models or refresh cycles. Key factors to monitor include vehicle delivery growth trajectory in China, battery-as-a-service monetization, capital expenditure cadence, and any changes to the energy services unit’s contribution to revenue and gross profit.