Company Valuation: Li Auto Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 207,217 137,291 266,000 174,668 119,519 137,303 - -
Change - -33.75% 93.75% -34.34% -31.57% 14.88% - -
Enterprise Value (EV) 1 185,360 108,435 171,459 70,288 28,012 64,908 53,209 45,440
Change - -41.5% 58.12% -59.01% -60.15% 131.71% -18.02% -14.6%
P/E ratio -583x -68x 23.9x 23.1x 110x 197x 25.3x 18.9x
PBR 4.78x 3.04x 4.37x 2.63x 1.75x 1.78x 1.6x 1.53x
PEG - -0x -0x -0.7x -1.3x -4.9x 0x 0.6x
Capitalization / Revenue 7.67x 3.03x 2.15x 1.21x 1.06x 1.07x 0.89x 0.81x
EV / Revenue 6.86x 2.39x 1.38x 0.49x 0.25x 0.51x 0.35x 0.27x
EV / EBITDA -434x -44.4x 18.6x 6.98x 6.81x 13.7x 5.3x 3.59x
EV / EBIT -182x -29.7x 23.1x 10x -53.8x -63.1x 9.32x 6.14x
EV / FCF 37.9x 48.1x 3.88x 8.57x -2.19x 6.46x 5.9x 3.6x
FCF Yield 2.64% 2.08% 25.8% 11.7% -45.8% 15.5% 16.9% 27.8%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.35 -2.07 11.1 7.58 1.08 0.6457 5.029 6.751
Distribution rate - - - - - - - -
Net sales 1 27,010 45,287 123,851 144,460 112,313 127,982 154,217 170,385
EBITDA 1 -426.9 -2,441 9,212 10,077 4,114 4,750 10,043 12,657
EBIT 1 -1,017 -3,655 7,407 7,019 -521.1 -1,029 5,706 7,401
Net income 1 -321.5 -2,012 11,704 8,032 1,124 1,785 6,336 7,976
Net Debt 1 -21,856 -28,856 -94,540 -104,380 -91,506 -72,395 -84,095 -91,863
Reference price 2 203.92 140.70 265.41 175.11 118.42 127.28 127.28 127.28
Nbr of stocks (in thousands) 1,016,174 975,752 1,002,213 997,503 1,009,319 1,078,733 - -
Announcement Date 2/25/22 2/27/23 2/26/24 3/14/25 3/12/26 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
197.13x0.51x13.67x-.--% 20.22B
327.6x15.69x105.59x-.--% 1,628B
14.07x0.3x4.41x1.84% 21.84B
-5.17x2.93x-10.2x-.--% 17.86B
-86.79x0.88x-636.63x-.--% 15.45B
-24.41x0.85x16.36x-.--% 15.22B
-3.09x3.13x-14.94x - 9.55B
-14.94x0.87x-70.02x-.--% 6.56B
23.63x - - - 4.17B
Average 47.56x 3.14x -73.97x 0.26% 193.2B
Weighted average by Cap. 308.12x 14.80x 93.33x 0.02%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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