Li Auto Inc. balance sheet LAAOF

Annual Quarterly

As of Dec 31, 2025, Li Auto Inc. had total assets of $22.1 billion and total liabilities of $11.6 billion. Total assets were down 0.8% from a year earlier. Stockholders' equity was $10.4 billion. It held $8.2 billion in cash and investments against $2.5 billion of total debt, net cash of $5.7 billion. The current ratio, current assets divided by current liabilities, was 1.81.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.

FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
Assets
Cash
8,107
-10.2%
9,028
-29.8%
12,863
+130.6%
5,579
+27.6%
4,371
+219.1%
1,370
Long-term investments
121
-4.0%
126
-43.7%
225
+4.4%
215
+777.5%
25
-1.7%
25
Cash and investments
8,228
-10.1%
9,155
-30.1%
13,088
+125.9%
5,794
+31.8%
4,395
+215.1%
1,395
Receivables
17
-7.4%
19
-8.4%
20
+188.2%
7
-62.9%
19
+6.8%
18
Inventory
1,252
+11.6%
1,121
+15.9%
968
-1.9%
987
+288.6%
254
+58.1%
161
Total current assets
16,486
-4.7%
17,304
+7.3%
16,131
+66.1%
9,713
+18.2%
8,220
+70.9%
4,811
Property and equipment, net
3,257
+12.4%
2,896
+30.6%
2,218
+36.7%
1,622
+129.8%
706
—
Goodwill
1
+4.4%
1
-2.7%
1
-2.9%
1
—
—
Total assets
22,064
-0.8%
22,242
+10.1%
20,207
+61.1%
12,547
+29.3%
9,705
+74.1%
5,574
Liabilities and equity
Total current liabilities
9,087
-4.2%
9,483
-7.4%
10,246
+158.2%
3,969
+108.9%
1,900
+187.7%
660
Total liabilities
11,605
-6.9%
12,471
+6.8%
11,675
+94.7%
5,995
+83.8%
3,262
+223.9%
1,007
Stockholders' equity
10,384
+6.9%
9,710
+14.6%
8,471
+30.2%
6,504
+0.9%
6,444
+41.1%
4,568
Debt
Debt due within a year
889
+2208.8%
39
—
8,283
—
78
Long-term debt
472
-57.8%
1,117
+353.8%
246
-81.6%
1,338
+43.1%
935
—
Lease liabilities
1,187
+9.5%
1,084
+59.5%
680
+77.3%
383
+32.5%
289
+17.8%
246
Total debt
2,547
+13.8%
2,239
+141.9%
926
-90.7%
10,005
+717.0%
1,225
+277.9%
324
Net cash
5,681
-17.9%
6,916
-43.1%
12,163
+388.8%
-4,211
-232.8%
3,171
+196.1%
1,071
Ratios
Current ratio
1.81x
1.82x
1.57x
2.45x
4.33x
7.28x
Debt to equity
0.25x
0.23x
0.11x
1.54x
0.19x
0.07x
Debt to EBITDA
4.33x
1.62x
0.71x
—
—
—
Return on equity
1.57%
11.35%
19.64%
-4.53%
-0.78%
-0.51%
Return on assets
0.74%
4.96%
8.23%
-2.35%
-0.52%
-0.42%
Book value per share
5.12
4.84
4.27
3.33
3.34
2.52
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry
Motor Vehicles & Passenger Car Bodies (SIC 3711)
Listed as
LI (Nasdaq), LAAOF (OTC)
Fiscal year ends
December 31
Incorporated in
Cayman Islands
Headquarters
Beijing
SEC filer status
Large accelerated filer
SEC CIK
1791706
Former names
Leading Ideal Inc. (until Jun 5, 2020)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.