Question 1

What is Li Auto's EV/EBITDA ratio?

Accepted Answer

Li Auto (LI) EV/EBITDA ratio is 0.9× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Li Auto?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Li Auto specifically, the relevant sector benchmark is the current sector median of 13.4×.

Question 5

Is Li Auto's EV/EBITDA ratio high or low?

Accepted Answer

Li Auto's EV/EBITDA ratio of 0.9× is below its own 5-year average of 113.6× and below the sector median of 13.4×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Li Auto's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Li Auto (LI) EV/EBITDA ratio has ranged from a low of 0.4× in 2026 to a high of 3437.0× in 2021. The 5-year average is 113.6× and the 5-year median is 13.7×.

Question 7

What was Li Auto's EV/EBITDA ratio in 2025?

Accepted Answer

Li Auto (LI) EV/EBITDA ratio at the end of 2025 was 6.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Li Auto's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$17.1B	$851M	6.1×	-0.1×	Dec 31, 2025
2024	$24B	$1.73B	6.2×	-7.4×	Dec 31, 2024
2023	$37.1B	$1.79B	13.7×	—	Dec 31, 2023
2022	$19.9B	-$138M	—	—	Dec 31, 2022
2021	$30.9B	$86.8M	284.1×	-396.3×	Dec 31, 2021
2020	$24.9B	$30.6M	680.4×	—	Dec 31, 2020
2019	$14.9B	-$287M	—	—	Dec 31, 2019


Amazon (AMZN)	12.2×
Packaging Corporation of America (PKG)	12.2×
Avery Dennison (AVY)	11.9×
Wynn Resorts (WYNN)	11.7×
Williams-Sonoma (WSM)	11.7×
Amcor (AMCR)	11.6×
Lennar (LEN)	11.2×
GameStop (GME)	11.0×
Ball (BALL)	10.7×
Hasbro (HAS)	10.7×
NVR (NVR)	10.6×
Norwegian Cruise Line (NCLH)	9.9×
LKQ (LKQ)	9.0×
Deckers Outdoor (DECK)	9.0×
Carnival Corporation (CCL)	8.7×
Toll Brothers (TOL)	8.6×
Smurfit Westrock (SW)	8.3×
Expedia Group (EXPE)	8.0×
Mohawk Industries (MHK)	6.4×
General Motors (GM)	6.3×
Best Buy Co. (BBY)	6.2×
Weyco Group (WEYS)	6.2×
Lululemon Athletica (LULU)	6.0×
Leggett & Platt (LEG)	5.4×
PDD Holdings (PDD)	3.6×

EV/EBITDA for Li Auto (LI) 2020-2026

EV/EBITDA daily chart for Li Auto (LI)

Historical EV/EBITDA for Li Auto (LI) from 2019 to 2025

About EV/EBITDA at Li Auto (LI)

Li Auto EV/EBITDA by Year

Li Auto EV/EBITDA 2025: 6.1×

Li Auto EV/EBITDA 2024: 6.2×

Li Auto EV/EBITDA 2023: 13.7×

Li Auto EV/EBITDA 2021: 284.1×

Li Auto EV/EBITDA 2020: 680.4×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Li Auto (LI) Key Financials