Growth Metrics

Nio (NIO) Cost of Revenue (2018 - 2025)

Nio has reported Cost of Revenue over the past 8 years, most recently at $4.1 billion for Q4 2025.

  • For the quarter ending Q4 2025, Cost of Revenue rose 71.48% year-over-year to $4.1 billion, compared with a TTM value of $10.6 billion through Dec 2025, up 29.31%, and an annual FY2025 reading of $10.8 billion, up 33.16% over the prior year.
  • Cost of Revenue came in at $4.1 billion for Q4 2025, up from $2.6 billion in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $4.1 billion in Q4 2025 to a low of $981.0 million in Q1 2021.
  • Median Cost of Revenue over the past 5 years was $1.6 billion (2022), compared with a mean of $1.9 billion.
  • The sharpest move saw Cost of Revenue soared 351.24% in 2021, then fell 14.78% in 2024.
  • Over 5 years, Cost of Revenue stood at $1.3 billion in 2021, then soared by 73.97% to $2.2 billion in 2022, then fell by 0.45% to $2.2 billion in 2023, then increased by 6.92% to $2.4 billion in 2024, then surged by 71.48% to $4.1 billion in 2025.
  • Per Business Quant, the three most recent readings for NIO's Cost of Revenue are $4.1 billion (Q4 2025), $2.6 billion (Q3 2025), and $2.4 billion (Q2 2025).