NIO vs XPEV
NIO Inc. and XPeng Inc., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | NIO | XPEV |
|---|---|---|
| Revenue | ¥87.5B | ¥76.7B |
| Net income | ¥-14.9B | ¥-1.1B |
| Gross margin | 13.6% | 18.9% |
| Net margin | −17.1% | −1.5% |
| Return on equity | −295.1% | −3.7% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥-3.1B | ¥5.1B |
| Equity | ¥4.2B | ¥30.4B |
| Net debt / equity | −0.48× | −0.29× |
| Current ratio | 0.98× | 1.09× |
| Revenue CAGR 5y | 40.0% | 67.4% |
| Profit CAGR 5y | — | — |
NIO and XPEV book revenue within 15% of each other, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
8 years side by side
| Fiscal year | NIO | XPEV |
|---|---|---|
| FY2025 | ¥87.5B | ¥76.7B |
| FY2024 | ¥65.7B | ¥40.9B |
| FY2023 | ¥55.6B | ¥30.7B |
| FY2022 | ¥49.3B | ¥26.9B |
| FY2021 | ¥36.1B | ¥21.0B |
| FY2020 | ¥16.3B | ¥5.8B |
| FY2019 | ¥7.8B | ¥2.3B |
| FY2018 | ¥5.0B | ¥9.7M |
Net income by year
Bottom line
| Fiscal year | NIO | XPEV |
|---|---|---|
| FY2025 | ¥-14.9B | ¥-1.1B |
| FY2024 | ¥-22.4B | ¥-5.8B |
| FY2023 | ¥-20.7B | ¥-10.4B |
| FY2022 | ¥-14.4B | ¥-9.1B |
| FY2021 | ¥-4.0B | ¥-4.9B |
| FY2020 | ¥-5.3B | ¥-2.7B |
| FY2019 | ¥-11.3B | ¥-3.7B |
| FY2018 | ¥-9.6B | ¥-1.4B |
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