Nio’s first-quarter revenue more than doubled from last year, slightly beating the high end of its previous guidance. Despite price competition in the domestic market, product mix optimization led to a 16% recovery in vehicle pricing and a close-to-9-percentage-point improvement in vehicle margin.
Nio has successfully built its premium brand image, which will differentiate the company from its mass-market competitors and generate extra pricing power for the company’s electric cars.
Intense competition in China’s auto industry will place pricing pressure on automakers. The company will need to offer promotions and discounts to consumers, which will weigh on its vehicle margin outlook.
|
Metric
|
NIO
|
LI
|
XPEV
|
|---|---|---|---|
Price/Earnings (Normalized) | — | 49.65 | — |
Price/Book Value | 21.07 | 1.42 | 3.59 |
Price/Sales | 0.88 | 0.97 | 1.42 |
Price/Cash Flow | — | — | 44.84 |
|
Metric
|
NIO
|
LI
|
XPEV
|
|---|---|---|---|
Quick Ratio | 0.63 | 1.66 | 0.59 |
Current Ratio | 1.01 | 1.88 | 1.14 |
Interest Coverage | −9.65 | −23.14 | −7.17 |
|
Metric
|
NIO
|
LI
|
XPEV
|
|---|---|---|---|
Return on Assets (Normalized) | −7.60% | −1.30% | −1.78% |
Return on Equity (Normalized) | −402.19% | −2.80% | −5.73% |
Return on Invested Capital (Normalized) | −21.76% | −3.80% | −4.12% |
|
1-Day Chart
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