The Lion Electric Company

LEVNYSEIndustrials

$0.25

$-0.08(-25.02%)

Market Cap$56554500

P/E Ratio—

52W High$1.99

52W Low$0.1805

Avg Volume6.1M

Open$0.28

Beta2.57

Overview

The Lion Electric Company (LEV) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

LEV · free cash flow · updated Jun 9, 2026

Core FCF metrics

LEV · FCF · TTM · margin & CAGR

Free cash flow was −$263.5M for FY2023 (fiscal year ending 2023-12-31), up 19.5% year-over-year The FCF margin was -104.0%.

FY2023 Free Cash Flow−$263.5M▲ +19.5% YoY

Trailing 12M (TTM)−$118.4Mtrailing 4 quarters sum

FCF Margin-104.0%−$263.5M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

LEV · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2023Latest−$110.0M(153M)−$263.5M▲ +19.5%-104.0%

FY2022−$119.6M(208M)−$327.4M▼ 67.3%-234.0%

FY2021−$131.0M(65M)−$195.8M▼ 321.0%-339.2%

FY2020−$27.1M(19M)−$46.5M▼ 116.1%-198.5%

FY2019−$7.4M(14M)−$21.5M▼ 720.2%-69.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

LEV · P/FCF · FCF yield · FCF per share

The Lion Electric Company (LEV) reported negative free cash flow of −$0.26B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2023 · 2023-12-31

Cash flow statement summary

LEV · cash flow statement · operating / investing / financing

For FY2023, The Lion Electric Company generated −$110.0M in operating cash flow and spent 153M in capital expenditures, yielding −$263.5M in free cash flow.

Operating Activities

−$110.0M

Cash from core business operations

2023-12-31

Investing Activities

−$123.5M

CapEx, acquisitions & investments

2023-12-31

Financing Activities

+$175.5M

Buybacks, dividends & debt

2023-12-31

FCF FormulaOperating CF (−$110.0M) − |CapEx| (153M) = FCF (−$263.5M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

LEV vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

The Lion Electric CompanyYOU

LEV

−$263.5M+19.5%-103.9%

Loss

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

The Lion Electric Company (LEV) reported free cash flow of −$263.5M for FY2023 (fiscal year ending 2023-12-31), up 19.5% year-over-year. The FCF margin was -104.0%.

The Lion Electric Company has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 6 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

LEV free cash flow · 8 questions

The Lion Electric Company free cash flow was −$263.5M for FY2023, up 19.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$118.4M.

LEV free cash flowLEV FCFLEV FCF 2023LEV free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · The Lion Electric Company · The Lion Electric Company SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026