Li Auto Inc.

LINASDAQConsumer Cyclical● Active

$14.63

+$0.43(+2.99%)

Market Cap$14.8B

P/E Ratio—

52W High$32.025

52W Low$14.065

Avg Volume4.0M

Open$14.70

Beta0.51

Overview

Li Auto Inc. (LI) Free Cash Flow & Analysis

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

LI · free cash flow · updated Jun 8, 2026

Core FCF metrics

LI · FCF · TTM · margin & CAGR

Free cash flow was −$12.82B for FY2025 (fiscal year ending 2025-12-31), down 256.2% year-over-year The FCF margin was -11.7%.

FY2025 Free Cash Flow−$12.82B▼ -256.2% YoY

Trailing 12M (TTM)−$12.82Btrailing 4 quarters sum

FCF Margin-11.7%−$12.82B ÷ 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 8, 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

LI · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$8.61B(4.21B)−$12.82B▼ 256.2%-11.7%

FY2024$15.93B(7.73B)$8.20B▼ 81.4%5.7%

FY2023$50.69B(6.51B)$44.19B▲ +1861.8%35.7%

FY2022$7.38B(5.13B)$2.25B▼ 54.0%4.9%

FY2021$8.34B(3.44B)$4.90B▲ +98.6%18.4%

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

FCF valuation metrics

LI · P/FCF · FCF yield · FCF per share

Li Auto Inc. (LI) reported negative free cash flow of −$12.82B. 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-statementFY2025 · 2025-12-31

Cash flow statement summary

LI · cash flow statement · operating / investing / financing

For FY2025, Li Auto Inc. generated −$8.61B in operating cash flow and spent 4.21B in capital expenditures, yielding −$12.82B in free cash flow.

Operating Activities

−$8.61B

Cash from core business operations

2025-12-31

Investing Activities

−$703.1M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$767.4M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$8.61B) − |CapEx| (4.21B) = FCF (−$12.82B)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

LI vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Li Auto Inc.YOU

−$12.82B-256.2%-11.7%

Loss

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

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

About Free Cash Flow & Methodology

Li Auto Inc. (LI) reported free cash flow of −$12.82B for FY2025 (fiscal year ending 2025-12-31), down 256.2% year-over-year. The FCF margin was -11.7%.

Based on available data, Li Auto Inc. has maintained positive free cash flow for at least 5 fiscal year(s). FCF peaked at $44.19B in FY2023.

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

LI free cash flow · 8 questions

Li Auto Inc. free cash flow was −$12.82B for FY2025, down 256.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$12.82B.

LI free cash flowLI FCFLI FCF 2025LI free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Li Auto Inc. · Li Auto Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026