Question 1

What is NIO's P/FCF ratio?

Accepted Answer

NIO (NIO) P/FCF ratio is 173.3× as of November 12, 2021. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for NIO?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For NIO specifically, the relevant sector benchmark is the current sector median of 17.1×.

Question 5

Is NIO's P/FCF ratio high or low?

Accepted Answer

NIO's P/FCF ratio of 173.3× is below its own 5-year average of 216.1× and above the sector median of 17.1×. That places the current reading at the 83th 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 NIO's historical P/FCF ratio range?

Accepted Answer

In the available daily series, NIO (NIO) P/FCF ratio has ranged from a low of 135.7× in 2021 to a high of 525.6× in 2020. The 5-year average is 216.1× and the 5-year median is 216.1×.

Question 7

What was NIO's P/FCF ratio in 2020?

Accepted Answer

NIO (NIO) P/FCF ratio at the end of 2020 was 525.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does NIO's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$12.8B	-$1.92B	—	—	Dec 31, 2025
2024	$8.96B	-$2.35B	—	—	Dec 31, 2024
2023	$16B	-$3.82B	—	—	Dec 31, 2023
2022	$16.1B	-$1.91B	—	—	Dec 31, 2022
2021	$50.9B	-$40.4M	—	—	Dec 31, 2021
2020	$69.3B	$132M	525.6×	—	Dec 31, 2020
2019	$4.14B	-$1.53B	—	—	Dec 31, 2019
2018	$6.66B	-$1.59B	—	—	Dec 31, 2018
2017	$6.93B	-$844M	—	—	Dec 31, 2017


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General Motors (GM)	4.3×

P/FCF Ratio for NIO (NIO) 2020-2026

P/FCF Ratio daily chart for NIO (NIO)

Historical P/FCF Ratio for NIO (NIO) from 2017 to 2025

About P/FCF Ratio at NIO (NIO)

NIO P/FCF Ratio by Year

NIO P/FCF Ratio 2020: 525.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

NIO (NIO) Key Financials