NIU
Niu Technologies
NASDAQ: NIU · CONSUMER CYCLICAL · AUTO MANUFACTURERS
$3.10
+1.97% today
Updated 2026-04-30
Market cap
$242.37M
P/E ratio
—
P/S ratio
0.06x
EPS (TTM)
$-0.07
Dividend yield
—
52W range
$3 – $6
Volume
0.5M
Niu Technologies (NIU) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $354.81M | $769.37M | $1.48B | $2.08B | $2.44B | $3.70B | $3.17B | $2.65B | $3.29B | $4.19B |
| Revenue growth (YoY) | — | +116.8% | +92.1% | +40.5% | +17.7% | +51.6% | -14.5% | -16.3% | +24.0% | +27.4% |
| Cost of revenue | $367.59M | $714.67M | $1.28B | $1.59B | $1.89B | $2.89B | $2.50B | $2.08B | $2.79B | $3.37B |
| Gross profit | $-12.78M | $54.70M | $198.63M | $486.55M | $559.15M | $812.78M | $669.68M | $570.75M | $498.76M | $820.59M |
| Gross margin | -3.6% | 7.1% | 13.4% | 23.4% | 22.9% | 21.9% | 21.1% | 21.5% | 15.2% | 19.6% |
| R&D | $33.09M | $39.49M | $91.81M | $67.19M | $105.34M | $135.22M | $176.48M | $150.99M | $130.11M | $161.92M |
| SG&A | $90.84M | $76.41M | $274.11M | $79.62M | $104.86M | $141.80M | $158.46M | $105.07M | $130.62M | $79.22M |
| Operating income | $-226.46M | $-141.83M | $-314.41M | $186.71M | $170.63M | $252.48M | $-89.28M | $-317.52M | $-250.63M | $-87.17M |
| Operating margin | -63.8% | -18.4% | -21.3% | 9.0% | 7.0% | 6.8% | -2.8% | -12.0% | -7.6% | -2.1% |
| EBITDA | $-225.21M | $-171.76M | $-322.42M | $242.12M | $247.36M | $374.50M | $77.21M | $-132.54M | $-89.04M | $25.60M |
| EBITDA margin | -63.5% | -22.3% | -21.8% | 11.7% | 10.1% | 10.1% | 2.4% | -5.0% | -2.7% | 0.6% |
| EBIT | $-230.40M | $-181.51M | $-341.31M | $209.70M | $197.12M | $279.02M | $-65.50M | $-280.60M | $-211.18M | $-87.17M |
| Interest expense | $2.32M | $3.15M | $7.72M | $11.40M | $7.38M | $6.17M | $5.72M | $1.42M | $5.62M | $5.96M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-232.72M | $-184.66M | $-349.03M | $190.08M | $168.65M | $225.82M | $-49.46M | $-271.84M | $-193.20M | $-38.31M |
| Net income growth (YoY) | — | +20.7% | -89.0% | +154.5% | -11.3% | +33.9% | -121.9% | -449.6% | +28.9% | +80.2% |
| Profit margin | -65.6% | -24.0% | -23.6% | 9.2% | 6.9% | 6.1% | -1.6% | -10.3% | -5.9% | -0.9% |