Quick Read – Nio’s gross margin nearly tripled to 19% year over year as R&D costs fell 41%, with CEO William Li targeting full-year 2026 profitability. – Nio’s 3,972-station battery swap network hit a four-year-high 21% other-sales margin, converting a long-criticized capex…
ain into a recurring revenue moat. – Shares are down 89% over five years, yet analysts hold a $7.35 consensus target that sits 49% above where Nio currently trades. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and NIO didn’t make the cut. Grab the names FREE today
The consensus story on Nio (NYSE:NIO) has been predictable for years: a cash-burning Chinese electric vehicle startup that was one funding round away from trouble. That narrative was not wrong. Full-year 2025 still produced a net loss of RMB 14.9 billion, and going-concern language appeared in the filings.
The market still sees that company, even though the financials describe a different one. The Cost Base Has Been Re-Engineered The Q1 FY2026 report tells the story. Gross margin came in at 19.0%, up from 7.6% a year earlier.