Nio (NIO) Cost of Revenue (2018 - 2026)
Nio (NIO) reported Cost of Revenue of $3.87 billion for Q2 2026, up 61.8% from $2.39 billion a year earlier and up 29.0% from the prior quarter.
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Analysis
Nio (NIO) Cost of Revenue (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Nio's Cost of Revenue came in at $13.59 billion, up 56.5% year-over-year; for FY2025, it came in at $10.81 billion, up 33.2% from FY2024.
- Cost of Revenue has increased for seven consecutive years, with a five-year compound annual growth rate of 37.4% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $8.12 billion in FY2024 (+9.6%), $7.4 billion in FY2023 (+15.7%), $6.4 billion in FY2022 (+39.1%) and $4.6 billion in FY2021 (+108.7%).
- Five-year quarterly Cost of Revenue spans a low of $1.2 billion in Q2 2023 and a high of $4.09 billion in Q4 2025.
- Year over year, Cost of Revenue has now increased in each of the last seven quarters, with growth averaging 34.2% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was Q3 2021 (growth of 108.9%); the low point was Q1 2024 (a decline of 14.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $3 billion (Q1 2026), $4.09 billion (Q4 2025) and $2.64 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,160.73 Bn | 982.96 Bn | 5.49 Bn | 22.55 Bn |
| 2 | General Motors | 75.19 Bn | -29.42 Bn | 9.28 Bn | 40.74 Bn |
| 3 | Ferrari | 74.17 Bn | 66.47 Bn | 1.14 Bn | 1.04 Bn |
| 4 | Ford Motor | 49.64 Bn | -84.78 Bn | 7.38 Bn | 42.15 Bn |
| 5 | Honda Motor | 47.63 Bn | -102.18 Bn | 8.46 Bn | 29.57 Bn |
| 6 | Toyota Motor | 28.28 Bn | -349.28 Bn | 19.83 Bn | 64.56 Bn |
| 7 | Rivian Automotive | 19.71 Bn | -2.02 Bn | 176.00 Mn | 1.98 Bn |
| 8 | Magna International | 17.43 Bn | 11.40 Bn | 1.63 Bn | 8.43 Bn |
| 9 | Stellantis | 12.80 Bn | -148.64 Bn | 3.94 Bn | 39.33 Bn |
| 10 | Nio | 7.70 Bn | -16.01 Bn | 870.51 Mn | 3.87 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.87 Bn |
| Mar 31, 2026 | 3.00 Bn |
| Dec 31, 2025 | 4.09 Bn |
| Sep 30, 2025 | 2.64 Bn |
| Jun 30, 2025 | 2.39 Bn |
| Mar 31, 2025 | 1.53 Bn |
| Dec 31, 2024 | 2.38 Bn |
| Sep 30, 2024 | 2.37 Bn |
| Jun 30, 2024 | 2.17 Bn |
| Mar 31, 2024 | 1.30 Bn |
| Dec 31, 2023 | 2.23 Bn |
| Sep 30, 2023 | 2.40 Bn |
| Jun 30, 2023 | 1.20 Bn |
| Mar 31, 2023 | 1.53 Bn |
| Dec 31, 2022 | 2.24 Bn |
| Sep 30, 2022 | 1.58 Bn |
| Jun 30, 2022 | 1.34 Bn |
| Mar 31, 2022 | 1.34 Bn |
| Dec 31, 2021 | 1.28 Bn |
| Sep 30, 2021 | 1.21 Bn |
API Access
Nio Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NIO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NIO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NIO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();