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Li Auto vs Tesla: revenue, profit, margins and growth compared

Li Auto brought in $16.1B of revenue in fiscal 2025, Tesla $94.8B in fiscal 2025. Revenue changed by -18.8% at Li Auto and -2.9% at Tesla on the year before, so Tesla grew faster. Li Auto kept 1.0% of its revenue as net profit, Tesla 4.0%. Free cash flow was -$1.8B at Li Auto and $6.2B at Tesla.

Side by side, latest fiscal year

LITSLA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$16.1B$94.8B
Revenue growth-18.8%-2.9%
Net income$160.8M$3.8B
Net margin1.0%4.0%
Free cash flow-$1.8B$6.2B
Free cash flow margin-11.4%6.6%
Earnings per share (diluted)$0.08$1.08
Cash$8.1B$16.5B
Debt$471.8M$6.6B
Price to earningsn/a331.0
Market value$12.5B$1.41T
Dividend yieldn/an/a
Rank by revenue in sector#40 of 587 · Industrials#3 of 587 · Industrials

Over the years

Revenue
LI FY2020: $1.4BLI FY2021: $4.2BLI FY2022: $6.6BLI FY2023: $17.4BLI FY2024: $19.8BLI FY2025: $16.1BTSLA FY2018: $21.5BTSLA FY2019: $24.6BTSLA FY2020: $31.5BTSLA FY2021: $53.8BTSLA FY2022: $81.5BTSLA FY2023: $96.8BTSLA FY2024: $97.7BTSLA FY2025: $94.8BFY18FY19FY20FY21FY22FY23FY24FY25
LI $16.1BTSLA $94.8B
Net income
LI FY2020: -$23.2MLI FY2021: -$50.4MLI FY2022: -$291.7MLI FY2023: $1.6BLI FY2024: $1.1BLI FY2025: $160.8MTSLA FY2018: -$976MTSLA FY2019: -$862MTSLA FY2020: $721MTSLA FY2021: $5.5BTSLA FY2022: $12.6BTSLA FY2023: $15BTSLA FY2024: $7.1BTSLA FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
LI $160.8MTSLA $3.8B
Net margin
LI FY2020: -1.6%LI FY2021: -1.2%LI FY2022: -4.4%LI FY2023: 9.5%LI FY2024: 5.6%LI FY2025: 1.0%TSLA FY2018: -4.5%TSLA FY2019: -3.5%TSLA FY2020: 2.3%TSLA FY2021: 10.3%TSLA FY2022: 15.4%TSLA FY2023: 15.5%TSLA FY2024: 7.3%TSLA FY2025: 4.0%FY18FY19FY20FY21FY22FY23FY24FY25
LI 1.0%TSLA 4.0%
Revenue growth
LI FY2021: +192.4%LI FY2022: +54.9%LI FY2023: +165.7%LI FY2024: +13.5%LI FY2025: -18.8%TSLA FY2019: +14.5%TSLA FY2020: +28.3%TSLA FY2021: +70.7%TSLA FY2022: +51.4%TSLA FY2023: +18.8%TSLA FY2024: +0.9%TSLA FY2025: -2.9%FY19FY20FY21FY22FY23FY24FY25
LI -18.8%TSLA -2.9%
Free cash flow
LI FY2020: $377.7MLI FY2021: $768.3MLI FY2022: $326.6MLI FY2023: $6.2BLI FY2024: $1.1BLI FY2025: -$1.8BTSLA FY2018: -$3MTSLA FY2019: $1.1BTSLA FY2020: $2.8BTSLA FY2021: $5BTSLA FY2022: $7.6BTSLA FY2023: $4.4BTSLA FY2024: $3.6BTSLA FY2025: $6.2BFY18FY19FY20FY21FY22FY23FY24FY25
LI -$1.8BTSLA $6.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Li Auto and Tesla

Which is bigger by revenue, Li Auto or Tesla?

Tesla is bigger by revenue: $94.8B in fiscal 2025, against $16.1B for Li Auto in fiscal 2025.

Which keeps more of its revenue as profit, Li Auto or Tesla?

Li Auto had a net margin of 1.0% in fiscal 2025; Tesla had 4.0% in fiscal 2025.

Which grew revenue faster, Li Auto or Tesla?

In their latest fiscal years revenue changed by -18.8% at Li Auto and -2.9% at Tesla.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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