NIO, based in Shanghai, builds premium electric cars and runs stations where empty batteries are swapped for full ones in a few minutes. With Onvo and Firefly it has added lower-priced brands. Traded here as a US depositary receipt. As of Oct 16, 2026
The carmaker, whose Chinese name is Weilai, designs, develops, manufactures and sells connected electric cars. The vehicles appear under the NIO, ONVO and FIREFLY brands, each with its own app. The group also offers repair, maintenance, charging and battery swapping, and in some regions service packages for an annual fee. With the battery subscription, customers pay a lower car price and a monthly fee to Battery Asset Company, in which a subsidiary of the group holds a stake. At the end of 2025 the group maintained 416 service centers worldwide, both its own and those of partners.
Automatically summarized from SEC annual report (20-F, filed Apr 10, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 17, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
No buy zone
There is currently no buy zone for this symbol under our Elliott rule. One only forms when the price pulls back after a strong rise.
An observation, not investment advice
Rule (4-hour candles) No active buy zone – the last one ended on Oct 21, 2026 · Setup invalid (close below the start of wave 1) Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Watcher Full history: every change of the buy zone with its date.
Weekly candles (1W) No entry in the zone history yet (recording since Oct 12, 2026). Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Timeframe 1 week · As of Oct 23, 2026 · display only, the rule works on 4-hour candles
Elliott count: Zigzag (A-B-C), Corrective pattern (downward), C in progress (3 of 3 guidelines) · B = 78% of A; C = 127% of A
Position: Position unclear (the correction reaches into wave 1 territory, so not wave 4)
Alternative (not drawn): Impulse, Impulse pattern (downward), Wave 3 in progress (2 of 2 guidelines)
Before (drawn faintly): Impulse, Wave 3 complete
Note: Structure ambiguous: leg B can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed weekly candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 day · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Impulse, Impulse pattern (downward), Wave 3 in progress (1 of 3 guidelines) · W2 = 79% of W1; W3 = 209% of W1
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart.
Note: Structure open: leg W1 cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Note: Count questionable: C in progress at 209% (C of A, limit 161.8%).
Note: Count questionable: Y in progress at 209% (Y of W, limit 161.8%).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed daily candles (recalculated every day). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 4 hours · As of Oct 27, 2026
Elliott count: Flat (running), Corrective pattern (upward), C complete (3 of 3 guidelines) · B = 135% of A; C = 86% of A
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart.
Alternative (not drawn): Combination (W-X-Y-X-Z), Corrective pattern (downward), Z in progress (2 of 4 guidelines)
Note: Running flat: rare, only in strong trends.
Note: Structure open: leg C cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Note: Count questionable: Y in progress at 232% (Y of W, limit 161.8%).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
No buy zone of the rule on this timeframe – the chart shows only the Elliott count from the completed 4-hour candles (recalculated every hour). Not a recommendation, not investment advice. Without a buy zone there is no reference for percentages – so no value axis and no prices; measurements are ratios of wave lengths.
Timeframe 1 hour · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Zigzag (A-B-C), Corrective pattern (downward), C in progress (2 of 2 guidelines) · B = 44% of A; C = 47% of A
Comparison: The rule treats the last rise as the possible start of an upward impulse (without checking its history and structure). The Elliott count reads it as countermove B in a correction.
Alternative (not drawn): Double zigzag (W-X-Y), Corrective pattern (downward), Y in progress (2 of 2 guidelines)
Note: Structure ambiguous: leg A can also be read as three- or five-part.
Note: Retracement at least 88.7% of A: flat possible (B in progress, type only with C).
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed hourly candles; the chart is recalculated every hour. Not investment advice. On this timeframe the chart only shows the rule setup (swing detection 4 × ATR) – the rule itself works on 4-hour candles. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 1 week · As of Oct 23, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 3 guidelines, strong) · Alternative: behind (2 of 2, strong) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the weekly close stays below the end of B, this applies: sharp countermove downward in three waves (Zigzag A-B-C), C in progress – count points to falling prices.
Invalid if the weekly close is above the end of B
If that breaks, the alternative moves to the front: Downward move in five waves (Impulse) – count points to falling prices, as long as the weekly close stays below the start of wave 1.
Invalid if the weekly close is above the start of wave 1
Watcher Fibonacci target zones and levels for this count – as a help for your own review – from Watcher.
Timeframe 1 day · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (1 of 3 guidelines, weak) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart. No visible sub-waves in: W1.
As long as the daily close stays below the start of wave 1, this applies: Downward move in five waves (Impulse), wave 3 in progress – count points to falling prices.
Invalid if the daily close is above the start of wave 1
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Watcher Fibonacci target zones and levels for this count – as a help for your own review – from Watcher.
Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 3 guidelines, strong) · Alternative: behind (2 of 4, medium) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
provisional count The inner sub-waves cannot be seen on this timeframe – the hard Elliott rules are met, the internal structure remains open. Provisional – check the count yourself on the chart. No visible sub-waves in: C.
As long as the 4-hour close stays below the end of C, this applies: flat countermove upward in three waves (Flat, running), C complete – count points to falling prices.
Invalid if the 4-hour close is above the end of C
If that breaks, the second reading no longer applies either: complex countermove downward (Combination W-X-Y-X-Z), Z in progress – then there is no valid count for now; the next candles will produce a new one.
Invalid if the 4-hour close is above the end of the second X
Timeframe 1 hour · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario and alternative: level (2 of 2 guidelines each, strong) – the simpler or clearer pattern counts as the main scenario. Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the hourly close stays below the end of B, this applies: sharp countermove downward in three waves (Zigzag A-B-C), C in progress – count points to falling prices.
Invalid if the hourly close is above the end of B (+3.2% from the top of the zone)
If that breaks, the second reading no longer applies either: complex countermove downward (Double zigzag W-X-Y), Y in progress – then there is no valid count for now; the next candles will produce a new one.
Invalid if the hourly close is above the end of X (+3.2% from the top of the zone)
NIO · amounts in CNY
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Apr 10, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
13.6% Fiscal year 2025
Rank 9 of 100: higher than 9% of 153 peers (All). weak.
Share of revenue left after the direct cost of the products sold.
−16.0% Fiscal year 2025
Rank 14 of 100: higher than 14% of 192 peers (All). weak.
Operating income divided by revenue: what the core business earns before interest and taxes.
−17.1% Fiscal year 2025
Rank 12 of 100: higher than 12% of 237 peers (All). weak.
Profit after all costs, interest and taxes divided by revenue.
−12.0% Fiscal year 2025 (total assets at year end)
Rank 8 of 100: higher than 8% of 238 peers (All). weak.
Net income divided by total assets at fiscal year end.
3.3% Fiscal year 2025
Rank 8 of 100: higher than 8% of 239 peers (All). weak.
Equity as a share of total assets. Usually low for banks.
−3.5% Fiscal year 2025
Rank 19 of 100: higher than 19% of 213 peers (All). weak.
Free cash flow divided by revenue.
−3.1B CNY Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+793.4% per year
Rank 100 of 100: higher than 100% of 230 peers (All). strong.
Average growth per year over 3 fiscal years.
+40.0% per year
Rank 89 of 100: higher than 89% of 217 peers (All). strong.
Average growth per year over 5 fiscal years.
6 of 9 Fiscal year 2025
Rank 45 of 100: higher than 45% of 134 peers (All). medium.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
2.07 at fiscal year end
Rank 11 of 100: lower than 11% of 199 peers (All). weak.
Long-term financial debt divided by equity.
0.98 at fiscal year end
Rank 23 of 100: higher than 23% of 215 peers (All). weak.
Current assets divided by current liabilities.
+92.2% in 5 years
Rank 10 of 100: lower than 10% of 199 peers (All). weak.
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
20-F filer (foreign company): amounts in the reporting currency, no price-based criteria.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Earnings per share” in this interval.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 87.5B CNY · Net income −14.9B CNY · Net margin −17.1%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 CNY of revenue, 13.6 CNY gross profit remained.
Operating loss: −16.0% of revenue
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 87.5B CNY | 100.0% |
| Gross profit | 11.9B CNY | 13.6% |
| Cost of revenue | 75.6B CNY | 86.4% |
| Operating expenses | 26.0B CNY | 29.7% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from −28.3% to −16.0%.
Gross marginOperating marginNet margin Margins above ±200% hidden (revenue very small relative to the result).Return on equity fell in 4 years from −19.5% to −373.9%.
Return on equityReturn on assets Return on equity hidden where equity is below 5% of total assets.The equity ratio fell in 5 years from 49.7% to 3.3%.
EquityLong-term debt in CNY Long-term debt, depending on the filing, includes the current portion or leases.The current ratio fell in 5 years from 3.31 to 0.98.
Current ratioFree cash flow fell in 5 years from 823.2M CNY to −3.1B CNY.
Operating cash flowCapital expenditureFree cash flow in CNYThe share count rose in 5 years by 92.2% – more new shares were issued than repurchased (dilution).
Average share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
20-F filer or other currency: earnings per share and share count do not reliably match the price of the US listing (ADR) – so there is no price-based valuation here.
Each light follows a simple, disclosed rule. This symbol has no sector assignment – lights with a sector comparison stay gray or use only the basic rule.
+40.0% per year, last 5 years
What does this mean? Revenue: over 5 years it grew by 40.0% per year on average. Comparable values for a sector comparison are missing.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
−17.1% last fiscal year
What does this mean? Of every 100 CNY in revenue there was no profit but a loss of 17.08 CNY. Five years ago the margin was −32.6%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
2.07 latest balance sheet
What does this mean? For every 1 CNY of equity there is 2.07 CNY of financial debt. Without a sector comparison this is hard to put into context.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
0 of 10 fiscal years with a profit
What does this mean? In 0 of the last 10 fiscal years the bottom line showed a profit. 10 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 87.5B | −14.9B | −17.1% | −6.85 | – | – |
| 2024 | Dec 31, 2024 | 65.7B | −22.4B | −34.1% | −11.03 | – | – |
| 2023 | Dec 31, 2023 | 167.2M | −20.7B | −12,393.7% | −12.44 | – | – |
| 2022 | Dec 31, 2022 | 122.7M | −14.4B | −11,767.4% | −8.89 | – | – |
| 2021 | Dec 31, 2021 | 57.9M | −4.0B | −6,937.6% | −6.72 | – | – |
| 2020 | Dec 31, 2020 | 16.3B | −5.3B | −32.6% | −4.74 | – | – |
| 2019 | Dec 31, 2019 | 7.8B | −11.3B | −144.4% | −11.08 | – | – |
| 2018 | Dec 31, 2018 | 5.0B | −9.6B | −194.7% | – | – | – |
| 2017 | Dec 31, 2017 | 0.0 | −5.0B | – | – | – | – |
| 2016 | Dec 31, 2016 | 0.0 | −2.6B | – | – | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q4/21* | Dec 31, 2021 | – | −2.1B | – | – | – | – |
| Q4/20* | Dec 31, 2020 | 6.6B | −1.4B | −20.9% | – | – | – |
| Q4/19* | Dec 31, 2019 | 2.8B | −2.9B | −100.6% | – | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
In the last 12 months, insiders of this stock have not acquired or disposed of shares on the market (SEC Form 4).
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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