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 for Q1 2026 stood at 7.87%, down from 17.83% in the prior quarter.
• The five-year high for Gross Margin was 23.45% in Q4 2023, with the low at 7.87% in Q1 2026.
• The 5-year median for Gross Margin is 20.39% (2023), against an average of 19.36%.
• The sharpest annual moves came in 2023 and 2026: Gross Margin surged 939 bps in 2023, then slumped 1265 bps in 2026.
• Li Auto's Gross Margin stood at 20.21% in 2022, then grew by 16 bps to 23.45% in 2023, then retreated by 14 bps to 20.26% in 2024, then fell by 12 bps to 17.83% in 2025, then tumbled by 56 bps to 7.87% in 2026.
• Business Quant data shows LI's Gross Margin at 7.87% in Q1 2026, 17.83% in Q4 2025, and 16.33% in Q3 2025.