Li Auto (LI) Gross Margin (2020 - 2026)

Li Auto's Gross Margin history runs 7 years deep, the most recent figure standing at 7.87% for Q1 2026.

• In Q1 2026, Gross Margin fell 1265.0% year-over-year to 7.87%; the TTM figure through Mar 2026 stood at 15.93% (down 460.0% YoY), while the FY2025 annual figure was 18.68%, down 184.0% from the prior year.
• Gross Margin was 7.87% for Q1 2026 at Li Auto, down from 17.83% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 23.45% in Q4 2023 to a low of 7.87% in Q1 2026.
• Historically, Gross Margin has averaged 19.36% across 5 years, with a median of 20.39% in 2023.
• The sharpest annual moves came in 2023 and 2026: Gross Margin soared 939 bps in 2023, then tumbled 1265 bps in 2026.
• A 5-year view of Gross Margin shows it stood at 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, then plunged by 56 bps to 7.87% in 2026.
• The last three Gross Margin figures came in at 7.87% (Q1 2026), 17.83% (Q4 2025), and 16.33% (Q3 2025), per Business Quant data.