Company Valuation: Li Auto Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 207,217 137,291 266,000 174,668 119,519 112,347 - -
Change - -33.75% 93.75% -34.34% -31.57% -6% - -
Enterprise Value (EV) 1 185,360 108,435 171,459 70,288 28,012 39,912 28,252 20,484
Change - -41.5% 58.12% -59.01% -60.15% 42.48% -29.21% -27.5%
P/E ratio -583x -68x 23.9x 23.1x 110x 170x 21.9x 16.3x
PBR 4.78x 3.04x 4.37x 2.63x 1.75x 1.53x 1.38x 1.32x
PEG - -0x -0x -0.7x -1.3x -4.2x 0x 0.5x
Capitalization / Revenue 7.67x 3.03x 2.15x 1.21x 1.06x 0.88x 0.73x 0.66x
EV / Revenue 6.86x 2.39x 1.38x 0.49x 0.25x 0.31x 0.18x 0.12x
EV / EBITDA -434x -44.4x 18.6x 6.98x 6.81x 8.18x 2.75x 1.63x
EV / EBIT -182x -29.7x 23.1x 10x -53.8x -38.5x 4.95x 2.77x
EV / FCF 37.9x 48.1x 3.88x 8.57x -2.19x 3.97x 3.13x 1.62x
FCF Yield 2.64% 2.08% 25.8% 11.7% -45.8% 25.2% 31.9% 61.6%
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 45,287 123,851 144,460 112,313 128,005 154,217 170,385
EBITDA 1 -426.9 -2,441 9,212 10,077 4,114 4,881 10,276 12,531
EBIT 1 -1,017 -3,655 7,407 7,019 -521.1 -1,036 5,704 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 -72,435 -84,095 -91,863
Reference price 2 203.92 140.70 265.41 175.11 118.42 110.05 110.05 110.05
Nbr of stocks (in thousands) 1,016,174 975,752 1,002,213 997,503 1,009,319 1,020,872 - -
Announcement Date 25/02/22 27/02/23 26/02/24 14/03/25 12/03/26 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
170.44x0.31x8.18x-.--% 16.52B
17.98x0.92x6.65x0.6% 117B
18.68x0.17x2.42x0.86% 19.79B
-5.09x2.89x-10.06x-.--% 17.57B
-81.43x0.8x557.14x-.--% 14.48B
-22.47x0.78x15.15x-.--% 13.99B
-2.72x2.98x-14.03x - 8.42B
15.21x0.27x6.38x-.--% 7.72B
-13.87x0.76x-61.01x-.--% 6.08B
Average 10.75x 1.10x 56.76x 0.18% 24.57B
Weighted average by Cap. 16.77x 1.00x 38.97x 0.41%

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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