vs
蔚来（NIO）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
蔚来的季度营收约是Rivian Automotive, Inc.的3.7倍（$4.7B vs $1.3B）。蔚来净利率更高（0.8% vs -63.1%，领先63.9%）。蔚来自由现金流更多（$-439.4M vs $-1.1B）
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
NIO vs RIVN — 直观对比
营收规模更大
NIO
是对方的3.7倍
$1.3B
净利率更高
NIO
高出63.9%
-63.1%
自由现金流更多
NIO
多$704.6M
$-1.1B
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $1.3B |
| 净利润 | $38.7M | $-811.0M |
| 毛利率 | 17.5% | 9.3% |
| 营业利润率 | 1.5% | -64.8% |
| 净利率 | 0.8% | -63.1% |
| 营收同比 | — | -25.8% |
| 净利润同比 | — | -9.0% |
| 每股收益（稀释后） | $0.05 | $-0.66 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NIORIVN
| Q1 26 | $4.7B | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $3.0B | $1.6B | ||
| Q2 25 | $2.6B | $1.3B | ||
| Q1 25 | $2.7B | $1.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $874.0M | ||
| Q2 24 | — | $1.2B |
净利润NIORIVN
| Q1 26 | $38.7M | — | ||
| Q4 25 | — | $-811.0M | ||
| Q3 25 | $-505.2M | $-1.2B | ||
| Q2 25 | $-709.5M | $-1.1B | ||
| Q1 25 | $-984.2M | $-545.0M | ||
| Q4 24 | — | $-744.0M | ||
| Q3 24 | — | $-1.1B | ||
| Q2 24 | — | $-1.5B |
毛利率NIORIVN
| Q1 26 | 17.5% | — | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | 13.9% | 1.5% | ||
| Q2 25 | 10.0% | -15.8% | ||
| Q1 25 | 11.7% | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | -44.9% | ||
| Q2 24 | — | -38.9% |
营业利润率NIORIVN
| Q1 26 | 1.5% | — | ||
| Q4 25 | — | -64.8% | ||
| Q3 25 | -16.2% | -63.1% | ||
| Q2 25 | -25.8% | -85.5% | ||
| Q1 25 | -30.6% | -52.8% | ||
| Q4 24 | — | -38.1% | ||
| Q3 24 | — | -133.8% | ||
| Q2 24 | — | -118.7% |
净利率NIORIVN
| Q1 26 | 0.8% | — | ||
| Q4 25 | — | -63.1% | ||
| Q3 25 | -16.8% | -75.3% | ||
| Q2 25 | -27.0% | -85.7% | ||
| Q1 25 | -36.2% | -44.0% | ||
| Q4 24 | — | -42.9% | ||
| Q3 24 | — | -125.9% | ||
| Q2 24 | — | -125.8% |
每股收益（稀释后）NIORIVN
| Q1 26 | $0.05 | — | ||
| Q4 25 | — | $-0.66 | ||
| Q3 25 | $-1.51 | $-0.96 | ||
| Q2 25 | $-2.31 | $-0.97 | ||
| Q1 25 | $-3.47 | $-0.48 | ||
| Q4 24 | — | $-0.67 | ||
| Q3 24 | — | $-1.08 | ||
| Q2 24 | — | $-1.46 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $4.4B | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $594.8M | $4.6B |
| 总资产 | $17.8B | $14.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资NIORIVN
| Q1 26 | $4.4B | — | ||
| Q4 25 | — | $6.1B | ||
| Q3 25 | — | $7.1B | ||
| Q2 25 | $2.5B | $7.5B | ||
| Q1 25 | $4.6B | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $7.9B |
总债务NIORIVN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B |
股东权益NIORIVN
| Q1 26 | $594.8M | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | $-168.3M | $6.1B | ||
| Q1 25 | $817.5M | $6.2B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $6.8B |
总资产NIORIVN
| Q1 26 | $17.8B | — | ||
| Q4 25 | — | $14.9B | ||
| Q3 25 | — | $15.2B | ||
| Q2 25 | $14.0B | $15.6B | ||
| Q1 25 | $14.7B | $15.5B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $14.3B | ||
| Q2 24 | — | $15.4B |
负债/权益比NIORIVN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $427.9M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $-439.4M | $-1.1B |
| 自由现金流率自由现金流/营收 | -9.3% | -89.0% |
| 资本支出强度资本支出/营收 | 18.4% | 36.0% |
| 现金转化率经营现金流/净利润 | 11.07× | — |
| 过去12个月自由现金流最近4个季度 | — | $-2.5B |
8季度趋势，按日历期对齐
经营现金流NIORIVN
| Q1 26 | $427.9M | — | ||
| Q4 25 | — | $-681.0M | ||
| Q3 25 | — | $26.0M | ||
| Q2 25 | — | $64.0M | ||
| Q1 25 | $-1.1B | $-188.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $-876.0M | ||
| Q2 24 | — | $-754.0M |
自由现金流NIORIVN
| Q1 26 | $-439.4M | — | ||
| Q4 25 | — | $-1.1B | ||
| Q3 25 | — | $-421.0M | ||
| Q2 25 | — | $-398.0M | ||
| Q1 25 | $-2.3B | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-1.0B |
自由现金流率NIORIVN
| Q1 26 | -9.3% | — | ||
| Q4 25 | — | -89.0% | ||
| Q3 25 | — | -27.0% | ||
| Q2 25 | — | -30.5% | ||
| Q1 25 | -85.6% | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | -131.9% | ||
| Q2 24 | — | -89.6% |
资本支出强度NIORIVN
| Q1 26 | 18.4% | — | ||
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 35.5% | ||
| Q1 25 | 46.1% | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 24.4% |
现金转化率NIORIVN
| Q1 26 | 11.07× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
NIO
暂无分部数据
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
