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NIO expanded vehicle margin to 18.1% and expects Q1 deliveries of 80,000-83,000 vehicles.
NIO Inc. (NIO - Free Report) reported earnings per American Depositary Share (ADS) of 1 cent for the fourth quarter of 2025, in contrast to the Zacks Consensus Estimate of a loss of 5 cents. The company had incurred a loss of 47 cents in the year-ago quarter.
This China-based electric vehicle maker posted revenues of $4.96 billion, which beat the Zacks Consensus Estimate of $4.61 billion and increased 83.6% year over year, driven by higher vehicle delivery volumes.
NIO delivered 124,807 vehicles in the fourth quarter, up 71.7% year over year, including 67,433 vehicles from NIO, 38,290 units from ONVO and 19,084 units from FIREFLY.
Revenues generated from vehicle sales amounted to $4.52 billion, up 88.8% year over year. The increase was primarily attributable to higher delivery volumes. Other sales of $435.3 million rose 42.6% on a year-over-year basis.
Gross profit was $868.6 million, up 174.6% year over year. Vehicle margin in the reported quarter expanded to 18.1% from 13.1% in the fourth quarter of 2024, aided by a more favorable product mix. Gross margin improved to 17.5% from 11.7% in the year-ago quarter due to higher vehicle margins.
Research & development expenses totaled $289.7 million, down 41.8% year over year. Selling, general and administrative expenses were $505.8 million, down 24.3% year over year.
As of Dec. 31, 2025, cash, cash equivalents, restricted cash, short-term investments and long-term time deposits totaled $6.6 billion.
For the first quarter of 2026, NIO expects deliveries in the range of 80,000-83,000 vehicles, implying year-over-year growth of 90.1-97.2%. Revenues are projected between $3,501 million and $3,600 million.
The Zacks Consensus Estimate for RNLSY’s 2026 sales and earnings implies year-over-year growth of 14.4% and 176.3%, respectively. The EPS estimates for 2026 and 2027 have improved 34 cents and 18 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for MGA’s 2026 sales and earnings implies year-over-year growth of 2.3% and 18.7%, respectively. The EPS estimate for 2026 and 2027 has improved 75 cents and 79 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for STRT’s fiscal 2026 sales and earnings implies year-over-year growth of 2.1% and 16.2%, respectively. The EPS estimate for fiscal 2026 and fiscal 2027 has improved 85 cents and 48 cents, respectively, in the past 30 days.
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NIO Q4 Earnings Beat Expectations, Revenues Rise Y/Y
Key Takeaways
NIO Inc. (NIO - Free Report) reported earnings per American Depositary Share (ADS) of 1 cent for the fourth quarter of 2025, in contrast to the Zacks Consensus Estimate of a loss of 5 cents. The company had incurred a loss of 47 cents in the year-ago quarter.
This China-based electric vehicle maker posted revenues of $4.96 billion, which beat the Zacks Consensus Estimate of $4.61 billion and increased 83.6% year over year, driven by higher vehicle delivery volumes.
NIO Inc. Price, Consensus and EPS Surprise
NIO Inc. price-consensus-eps-surprise-chart | NIO Inc. Quote
Key Details of NIO’s Q4 Results
NIO delivered 124,807 vehicles in the fourth quarter, up 71.7% year over year, including 67,433 vehicles from NIO, 38,290 units from ONVO and 19,084 units from FIREFLY.
Revenues generated from vehicle sales amounted to $4.52 billion, up 88.8% year over year. The increase was primarily attributable to higher delivery volumes. Other sales of $435.3 million rose 42.6% on a year-over-year basis.
Gross profit was $868.6 million, up 174.6% year over year. Vehicle margin in the reported quarter expanded to 18.1% from 13.1% in the fourth quarter of 2024, aided by a more favorable product mix. Gross margin improved to 17.5% from 11.7% in the year-ago quarter due to higher vehicle margins.
Research & development expenses totaled $289.7 million, down 41.8% year over year. Selling, general and administrative expenses were $505.8 million, down 24.3% year over year.
As of Dec. 31, 2025, cash, cash equivalents, restricted cash, short-term investments and long-term time deposits totaled $6.6 billion.
For the first quarter of 2026, NIO expects deliveries in the range of 80,000-83,000 vehicles, implying year-over-year growth of 90.1-97.2%. Revenues are projected between $3,501 million and $3,600 million.
NIO’s Zacks Rank & Key Picks
NIO carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are RENAULT (RNLSY - Free Report) , Magna International (MGA - Free Report) and Strattec Security (STRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RNLSY’s 2026 sales and earnings implies year-over-year growth of 14.4% and 176.3%, respectively. The EPS estimates for 2026 and 2027 have improved 34 cents and 18 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for MGA’s 2026 sales and earnings implies year-over-year growth of 2.3% and 18.7%, respectively. The EPS estimate for 2026 and 2027 has improved 75 cents and 79 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for STRT’s fiscal 2026 sales and earnings implies year-over-year growth of 2.1% and 16.2%, respectively. The EPS estimate for fiscal 2026 and fiscal 2027 has improved 85 cents and 48 cents, respectively, in the past 30 days.