NIO
NIO Inc.
NIO lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink.
REF
Reformation Inc. (California)
There isn't enough reported data to score REF yet.
NIO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Unavailable |
NIO's revenue is currently strong, and its profitability and cash flow are stable. There isn't enough data to rate its balance sheet.
REF Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Unavailable | |
| Unavailable | |
| Unavailable |
There isn't enough reported data to rate REF's fundamentals.
NIO PE Valuation
NIO has no meaningful PE right now: it lost money over the past year.
REF PE Valuation
REF has no meaningful PE right now: it lost money over the past year.
NIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect NIO's losses to shrink, with revenue growing.
REF Forward outlook
There aren't enough analyst estimates for REF to show an outlook.
NIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.29 | +$1.45 |
| Q1 2026 | -$0.60 | +$1.16 |
| Q4 2025 | -$1.06 | +$0.60 |
| Q3 2025 | -$1.59 | +$0.02 |
| Q2 2025 | -$1.74 | -$0.10 |
| Q1 2025 | -$1.76 | +$0.06 |
| Q4 2024 | -$1.66 | +$0.21 |
| Q3 2024 | -$1.61 | +$0.32 |
NIO is still losing money, but far less than before: $0.29 per share over the past year, against $1.93 at its worst in late 2023.
REF Earnings Per Share
REF and NIO do not have enough comparable growth data to identify a winner.
NIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.8B | +69% |
| Q1 2026 | $3.8B | +112% |
| Q4 2025 | $5.2B | +76% |
| Q3 2025 | $3.3B | +17% |
| Q2 2025 | $2.9B | +9% |
| Q1 2025 | $1.8B | +21% |
| Q4 2024 | $3B | +15% |
| Q3 2024 | $2.8B | -2.1% |
NIO's revenue has grown year over year for seven quarters in a row: $4.8B last quarter, up 69% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -2.1% | +24 points |
| Q1 2026 | -1.2% | +52 points |
| Q4 2025 | 2.3% | +33 points |
| Q3 2025 | -16% | +12 points |
| Q2 2025 | -26% | +4 points |
| Q1 2025 | -53% | +1.1 points |
| Q4 2024 | -31% | +8.1 points |
| Q3 2024 | -28% | -2.6 points |
NIO's operating margin was −2.1% last quarter, up 24 points from the same quarter a year ago.
REF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $155.2M | +24% |
| Q1 2026 | $112.3M | +30% |
REF has the edge over NIO in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.3% | +8.8 points |
| Q2 2026 | 12% | N/A |
| Q1 2026 | -11% | N/A |
| Q2 2025 | 10% | N/A |
| Q1 2025 | -4.5% | N/A |
REF has the edge over NIO on profitability, with a higher operating margin.
NIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | +$2.1B |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$391.3M |
| Q3 2025 | $0 | $0 |
| Q2 2025 | -$2.1B | +$73.9M |
| Q1 2025 | $0 | $0 |
| Q4 2024 | -$391.3M | -386% |
| Q2 2024 | -$2.2B | +$337.9M |
NIO's free cash flow was $0 over the past year, against −$2.5B the year before.
REF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$22M | +$8.7M |
REF and NIO do not have enough comparable growth data to identify a winner.
NIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +15.6M shares |
| 1 year | +12% | +267M shares |
| 3 years | +51% | +844M shares |
| 5 years | +60% | +933M shares |
| Available history | +143% | +1.5B shares |
NIO has the edge over REF on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
NIO hasn't bought back shares in the past year.
REF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +5.8% | +3.1M shares |
| 1 year | +13% | +6.2M shares |
REF has 56M diluted shares, up 13% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2026 | — |
| Q2 2025 | — |
| Q1 2025 | — |
NIO Net Leverage
NIO's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
REF Net Leverage
REF's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
NIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.7 | Neutral |
| Stochastic | 6.9 | Oversold |
NIO's weekly RSI is 31 (neutral) and its Stochastic is 7 (oversold).
REF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.5 | Neutral |
| Stochastic | 79.9 | Neutral |
REF's weekly RSI is 54 (neutral) and its Stochastic is 80 (neutral).
NIO PE vs Consumer Cyclical Sector
NIO has no meaningful PE right now: it lost money over the past year.
REF PE vs Consumer Cyclical Sector
REF has no meaningful PE right now: it lost money over the past year.
NIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.36 | 9.2% below |
| 20 week MA | $4.01 | 24% below |
| 50 week MA | $4.81 | 37% below |
| 100 week MA | $4.85 | 37% below |
| 200 week MA | $6.03 | 49% below |
REF has stronger trend alignment. NIO is above 0 of 5 weekly averages versus REF above 1 of 1.
REF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.0 | 21% above |
REF is in an uptrend: it's above all one of its weekly moving averages, and 21% above its 8-week average.
NIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.42 | $45.8 | +1791% |
| 2021 | $45.8 | $30.5 | -33% |
| 2022 | $30.5 | $11.0 | -64% |
| 2023 | $11.0 | $9.07 | -17% |
| 2024 | $9.07 | $4.48 | -51% |
| 2025 | $4.48 | $5.10 | +14% |
| 2026 YTD | $5.10 | $3.05 | -40% |
NIO's yearly returns have swung widely, from +1791% in 2020 to −64% in 2022. It's down 40% so far in 2026.
REF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2026 YTD | $16.2 | $18.1 | +12% |
REF has the edge over NIO on returns for 2026, with the stronger performance.