Li Auto Inc. (LI)

Nasdaq: LI · Motor Vehicles & Passenger Car Bodies · Beijing, CN · filing with the SEC since 2019

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Grade6.0

◀ Past 6.2● Present 6.8▶ Future 4.7

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Li Auto Inc.

Nine metrics read from its own filings, by tense

Headline grade

6.0/10

◀ Past6.230% of the headline

● Present6.840% of the headline

▶ Future4.730% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.2/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.0/10

Has it survived what it has been through?

No warning events in its filings since 2019.

weight 33% of this tense · 70th percentile among 28 sector filers · read for itself

From the record

Li Auto Inc.'s filings since 2019 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

6.6/10

What has it actually done, year after year?

+170.8% a year over 7 filed years; profitable in 3 of 7.

weight 45% of this tense · 66th percentile among 27 sector filers · read for its customers

From the record

Li Auto Inc.'s 7 filed years say what it did: revenue went from CNY 284 million in fiscal 2019 to CNY 112 billion in fiscal 2025, up 170.8% a year; it rose in 5 of 6 years; the deepest fall was 22% from fiscal 2024 to fiscal 2025; net income was positive in 3 of 7 of those years (its annual reports).

What it rests on

revenue growth over the filed span170.8%top 10% of its family
the share of years revenue rosetop 26% of its family
the share of filed years with a profittop 43% of its family
the deepest fall from a revenue peak22.3%bottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

4.3/10

How has it treated the people who own it?

Share count grew 3.3% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 43rd percentile among 14 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Li Auto Inc.'s diluted share count grew about 3.3% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearstop 46% of its family
cash returned against operating cash flowbottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.8/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

6.6/10

Is it financially healthy right now?

ROE 2%: 2¢ of profit per shareholder dollar. Leverage 53%: owes 53¢ per asset dollar.

weight 45% of this tense · 66th percentile among 28 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Li Auto Inc. earned about 2 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 14 cents per dollar of everything the company owns. Leverage: it owed about 53 cents per dollar of assets, and net share issuance: its share count grew 0.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 20% of its family
return on equitytop 39% of its family
gross profit against assetstop 31% of its family
the share count against the year beforetop 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

7.4/10

How strong is its position in its industry?

top 26% of 27 in its family; net margin 1%.

weight 33% of this tense · 74th percentile among 27 sector filers · read for its customers

From the record

Li Auto Inc.'s standing among 27 graded names in its industry family: revenue of CNY 112 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 1% ranks in the top 31%; revenue growth of 35.3% a year over the last 3 filed years ranks in the top 21% (its annual reports).

What it rests on

net margin1.0%top 31% of its family
three-year revenue growth35.3%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

6.3/10

What are the people in charge doing?

SI estimate 6.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 11 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 11 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 11 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Li Auto Inc.'s leadership is put at 6.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 11 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.7/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

6.4/10

How much room does it have to grow?

top 36% of 26 in its family for room to expand.

weight 45% of this tense · 64th percentile among 26 sector filers · read for itself

From the record

Li Auto Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of CNY 57 billion against debt of CNY 3.3 billion leaves 34.6% of its assets as net cash, top 9% of its family; cash from operations less capital spending is -11.4% of revenue (bottom 44%); a gross margin of 18.7% (top 35%); research spending of 10.1% of revenue (top 44%) (its annual report).

What it rests on

cash less debt against assets34.6%top 9% of its family
cash from operations less capital spending against revenue-11.4%bottom 44% of its family
gross margin18.7%top 35% of its family
research spending against revenue10.1%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.8/10

What could actually drive growth from here?

bottom 38% of 27 in its family for growth drivers.

weight 33% of this tense · 38th percentile among 27 sector filers · read for its customers

From the record

Li Auto Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 35.3% a year over the last three filed years against 170.8% over all 7, slowing (bottom 6% of its family); the newest year grew -22.3% (bottom 20%); research spending grew 18.6% a year (top 13%); capital spending grew -6.4% a year (bottom 40%) (its annual reports). Li Auto Inc. reported 2 product lines in fiscal 2025: Vehicles at CNY 107 billion (95%), Other Sales and Services at CNY 5.6 billion (5%); 0 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-135.5 points a yearbottom 6% of its family
the newest year's revenue growth-22.3%bottom 20% of its family
three-year growth of research spending18.6%top 13% of its family
three-year growth of capital spending-6.4%bottom 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

2.4/10

Did its newest year beat what its own record pointed to?

bottom 24% of 26 in its family for expectations against reality.

weight 22% of this tense · 24th percentile among 26 sector filers · read for its shareholders

From the record

Li Auto Inc.'s newest year against its own record: revenue of CNY 112 billion in fiscal 2025 came in 56.5% below the CNY 258 billion its prior three years' pace pointed to (bottom 10% of its family); net income of CNY 1.1 billion against a prior three-year average of CNY 5.9 billion (bottom 21%); a net margin of 1% against 3.5% before (bottom 40%) (its annual reports).

What it rests on

revenue against the prior three years' pace-56.5%bottom 10% of its family
net income against the prior three years' average-81%bottom 21% of its family
net margin against its prior average-2.5 pointsbottom 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton LI · research, not advice