Li Auto Inc. balance sheet

At the end of fiscal 2025, Li Auto Inc. had total assets of $22.06bn, total liabilities of $11.61bn and shareholders' equity of $10.38bn. It held $8.11bn in cash against $2.88bn of debt: net cash of $5.22bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Li Auto Inc.: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	0.2	1.4	4.4	5.6	12.9	9.0	8.1
Receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Inventory	0.1	0.2	0.3	1.0	1.0	1.1	1.3
Total current assets	0.7	4.8	8.2	9.7	16.1	17.3	16.5
Goodwill	—	—	—	0.0	0.0	0.0	0.0
Total assets	1.4	5.6	9.7	12.5	20.2	22.2	22.1
Deferred revenue (current)	0.0	0.0	0.0	0.1	0.2	0.2	0.2
Total current liabilities	0.7	0.7	1.9	4.0	10.2	9.5	9.1
Short-term debt	0.0	—	0.0	0.1	1.0	0.0	0.9
Long-term debt	—	0.1	0.9	1.3	0.2	1.1	0.5
Total debt	0.1	0.1	1.3	2.1	3.6	3.0	2.9
Total liabilities	0.7	1.0	3.3	6.0	11.7	12.5	11.6
Shareholders' equity	−0.8	4.6	6.4	6.5	8.5	9.7	10.4
Non-controlling interests and other (assets − liabilities − equity)	1.5	—	—	—	—	—	—
Net debt (negative = net cash)	−0.1	−1.3	−3.1	−3.5	−9.2	−6.1	−5.2
Shares outstanding	128m	—	965m	977m	993m	1,004m	1,014m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: LI vs NIO LI vs XPEV LI vs THO

More: Automobile Manufacturers stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Li Auto Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Li Auto Inc.