Li Auto (LI) Gross Margin (2020 - 2025)
Li Auto (LI) posted Gross Margin of 17.83% for Q4 2025, up 9.18% on a QoQ basis from 16.33% in Q3 2025, and down 243.0% year-over-year from 12.47% in Q4 2024.
Li Auto (LI) has 6 years of Gross Margin data on file, last reported at 17.83% in Q4 2025.
- In Q4 2025, Gross Margin fell 243.0% year-over-year to 17.83%; the TTM figure through Dec 2025 stood at 18.67% (down 187.0% YoY), while the FY2025 annual figure was 18.68%, down 184.0% from the prior year.
- Gross Margin rose to 17.83% in Q4 2025, from 16.33% in the prior quarter.
- Across five years, Gross Margin topped out at 23.45% in Q4 2023 and bottomed at 12.65% in Q3 2022.
- A 5-year average of 20.16% and a median of 20.45% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin sank 1065 bps — and 2023, when it jumped 939 bps.
- Year by year, Gross Margin stood at 22.41% in 2021, then retreated by 10 bps to 20.21% in 2022, then increased by 16 bps to 23.45% in 2023, then decreased by 14 bps to 20.26% in 2024, then retreated by 12 bps to 17.83% in 2025.
- The last three Gross Margin figures came in at 17.83% (Q4 2025), 16.33% (Q3 2025), and 20.06% (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,345.47 Bn | 1,300.79 Bn | 4.72 Bn | 21.08% |
| 2 | General Motors | 75.49 Bn | 53.10 Bn | 4.32 Bn | 10.98% |
| 3 | Ferrari | 72.44 Bn | 70.64 Bn | - | - |
| 4 | Ford Motor | 66.63 Bn | 36.17 Bn | 7.94 Bn | 18.36% |
| 5 | Stellantis | 29.57 Bn | -7.31 Bn | 5.19 Bn | 11.61% |
| 6 | Rivian Automotive | 21.06 Bn | 16.25 Bn | 119.00 Mn | 8.62% |
| 7 | China Yuchai International | 16.90 Bn | 15.88 Bn | 317.01 Mn | 18.91% |
| 8 | VinFast Auto | 8.12 Bn | 11.12 Bn | - | - |
| 9 | Xpeng | 4.61 Bn | 1.71 Bn | - | - |
| 10 | Li Auto | 4.13 Bn | -4.66 Bn | 733.67 Mn | 17.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 17.83% |
| Sep 30, 2025 | 16.33% |
| Jun 30, 2025 | 20.06% |
| Mar 31, 2025 | 20.51% |
| Dec 31, 2024 | 20.26% |
| Sep 30, 2024 | 21.52% |
| Jun 30, 2024 | 19.50% |
| Mar 31, 2024 | 20.61% |
| Dec 31, 2023 | 23.45% |
| Sep 30, 2023 | 22.04% |
| Jun 30, 2023 | 21.76% |
| Mar 31, 2023 | 20.39% |
| Dec 31, 2022 | 20.21% |
| Sep 30, 2022 | 12.65% |
| Jun 30, 2022 | 21.51% |
| Mar 31, 2022 | 22.63% |
| Dec 31, 2021 | 22.41% |
| Sep 30, 2021 | 23.30% |
| Jun 30, 2021 | 18.91% |
| Mar 31, 2021 | 17.25% |
| Dec 31, 2020 | 17.47% |
| Sep 30, 2020 | 19.78% |
| Jun 30, 2020 | 13.34% |
| Mar 31, 2020 | 8.02% |