Lotus Technology Inc. key statistics and ratios

In fiscal 2025, Lotus Technology Inc. had an operating margin of -81.5% and a current ratio of 0.38. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Lotus Technology Inc.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	15.1%	24.1%	15.0%	3.2%	8.7%
Operating margin	<−999%	<−999%	−108.4%	−85.1%	−81.5%
Net margin	<−999%	<−999%	−109.3%	−119.5%	−89.4%
Free-cash-flow margin	<−999%	<−999%	−88.5%	−98.0%	−79.6%
Return on equity	−56.6%	—	—	—	—
Return on assets	—	−52.8%	−50.2%	−57.1%	−21.9%
Asset turnover	—	0.01	0.46	0.48	0.24
Current ratio	—	0.88	0.50	0.42	0.38
Debt to equity	64.7%	—	—	—	—
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	>999%	>999%	54.3%	29.7%	32.9%
Capital spending as % of revenue	938.2%	>999%	31.5%	6.2%	15.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 5 checks passed · December 31, 2025

What it owns · $2.0bn

Short-term assets $911mLonger-term assets $1.0bn

What it owes, and who funded it · $3.3bn

Short-term liabilities $2.4bnLonger-term liabilities $885mShareholders' equity $-1.3bn

Short-term assets cover short-term liabilities $911m of assets due within a year against $2.4bn of liabilities due within a year.
Short-term assets cover long-term liabilities $911m short-term assets against $885m of longer-dated liabilities.
More cash than debt $73m of cash against $1.4bn of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$334m of operating cash flow against $1.4bn of debt.
Operating profit covers interest at least five times over Operating income of −$423m against $63m of interest.

From Lotus Technology Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: LOT vs NIU GGR vs LOT LCID vs LOT

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