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NIO vs Rivian Automotive, Inc. / DE: revenue, profit, margins and growth compared

NIO brought in $12.5B of revenue in fiscal 2025, Rivian Automotive, Inc. / DE $5.4B in fiscal 2025. Revenue changed by +38.9% at NIO and +8.4% at Rivian Automotive, Inc. / DE on the year before, so NIO grew faster. NIO kept -17.8% of its revenue as net profit, Rivian Automotive, Inc. / DE -67.7%. Free cash flow was -$439.4M at NIO and -$2.5B at Rivian Automotive, Inc. / DE.

Side by side, latest fiscal year

NIORIVN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$12.5B$5.4B
Revenue growth+38.9%+8.4%
Net income-$2.2B-$3.6B
Net margin-17.8%-67.7%
Free cash flow-$439.4M-$2.5B
Free cash flow margin-3.5%-46.2%
Earnings per share (diluted)-$0.98-$3.07
Cash$1.6B$3.6B
Debt$1.3B$4.4B
Price to earningsn/an/a
Market value$8.1B$20.2B
Dividend yieldn/an/a
Rank by revenue in sector#51 of 603 · Industrials#123 of 603 · Industrials

Over the years

Revenue
NIO FY2018: $720.1MNIO FY2019: $1.1BNIO FY2020: $2.5BNIO FY2021: $5.7BNIO FY2022: $7.1BNIO FY2023: $7.8BNIO FY2024: $9BNIO FY2025: $12.5BRIVN FY2019: $0RIVN FY2021: $0RIVN FY2021: $55MRIVN FY2022: $1.7BRIVN FY2023: $4.4BRIVN FY2024: $5BRIVN FY2025: $5.4BFY18FY19FY20FY21FY22FY23FY24FY25
NIO $12.5BRIVN $5.4B
Net income
NIO FY2018: -$3.4BNIO FY2019: -$1.6BNIO FY2020: -$859.9MNIO FY2021: -$1.7BNIO FY2022: -$2.1BNIO FY2023: -$3BNIO FY2024: -$3.1BNIO FY2025: -$2.2BRIVN FY2019: -$426MRIVN FY2021: -$1BRIVN FY2021: -$4.7BRIVN FY2022: -$6.8BRIVN FY2023: -$5.4BRIVN FY2024: -$4.7BRIVN FY2025: -$3.6BFY18FY19FY20FY21FY22FY23FY24FY25
NIO -$2.2BRIVN -$3.6B
Net margin
NIO FY2018: -471.2%NIO FY2019: -145.9%NIO FY2020: -34.5%NIO FY2021: -29.3%NIO FY2022: -29.6%NIO FY2023: -38.0%NIO FY2024: -34.5%NIO FY2025: -17.8%RIVN FY2021: -8,523.6%RIVN FY2022: -407.2%RIVN FY2023: -122.5%RIVN FY2024: -95.5%RIVN FY2025: -67.7%FY18FY19FY20FY21FY22FY23FY24FY25
NIO -17.8%RIVN -67.7%
Revenue growth
NIO FY2019: +56.1%NIO FY2020: +121.7%NIO FY2021: +127.6%NIO FY2022: +26.0%NIO FY2023: +9.7%NIO FY2024: +15.0%NIO FY2025: +38.9%RIVN FY2022: +2,914.5%RIVN FY2023: +167.4%RIVN FY2024: +12.1%RIVN FY2025: +8.4%FY19FY20FY21FY22FY23FY24FY25
NIO +38.9%RIVN +8.4%
Free cash flow
NIO FY2019: -$1.5BNIO FY2020: $126.2MNIO FY2021: -$331.5MNIO FY2022: -$1.6BNIO FY2023: -$2.2BNIO FY2024: -$2.3BNIO FY2025: -$439.4MRIVN FY2019: -$552MRIVN FY2021: -$1.8BRIVN FY2021: -$4.4BRIVN FY2022: -$6.4BRIVN FY2023: -$5.9BRIVN FY2024: -$2.9BRIVN FY2025: -$2.5BFY19FY20FY21FY22FY23FY24FY25
NIO -$439.4MRIVN -$2.5B

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

Questions about NIO and Rivian Automotive, Inc. / DE

Which is bigger by revenue, NIO or Rivian Automotive, Inc. / DE?

NIO is bigger by revenue: $12.5B in fiscal 2025, against $5.4B for Rivian Automotive, Inc. / DE in fiscal 2025.

Which keeps more of its revenue as profit, NIO or Rivian Automotive, Inc. / DE?

NIO had a net margin of -17.8% in fiscal 2025; Rivian Automotive, Inc. / DE had -67.7% in fiscal 2025.

Which grew revenue faster, NIO or Rivian Automotive, Inc. / DE?

In their latest fiscal years revenue changed by +38.9% at NIO and +8.4% at Rivian Automotive, Inc. / DE.

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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