LCIDNasdaqMotor Vehicles & Passenger Car BodiesFiscal year ends December 31
Lucid Group, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$3.10−0.03 (-1.12%)
Close on Oct 19, 2026
- Market cap
- $1.18B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
-92.8%−115.6 pts over 5 years
Operating margin
-258.7%+14812.4 pts over 5 years
Net margin
-199.3%+17893.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +67.6% | +30.6% | +220.9% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 74.2% | -117.6% | |
| Return on assets | – | – | -29.9% | |
| Current ratio | – | 3.58 | 1.25 | |
| Debt to equity | – | -0.00 | 3.79 | |
| Net debt to EBITDA | – | – | -0.56× | |
| Interest coverage | – | -9362.9× | -36.8× | |
| Inventory turnover | – | – | 3.4× | |
| Capex to revenue | – | 11558.9% | 64.1% | |
| Diluted shares | – | 2M | 313M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Lucid generated $10.73B from operations and spent $4.18B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$10.73B
Used
$4.18B
Capital expenditure$4.16B100%Dividends$00%Share buybacks$20.72M0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-199.3%
×Asset turnover0.15×
×Equity multiplier3.93×
=Return on equity, FY2025-117.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -199.3% | 0.15× | 3.93× | -117.6% |
| FY2024 | -336.0% | 0.09× | 2.08× | -62.2% |
| FY2023 | -475.1% | 0.07× | 1.78× | -61.5% |
| FY2022 | -214.5% | 0.08× | 1.91× | -31.6% |
| FY2021 | -9515.6% | 0.01× | 3.58× | -199.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$2.70B
- Cash generatingOperating cash flow above zero-$2.93B
- Return on assets improvedROA up on the prior year-31.9% → -28.0%
- Earnings backed by cashOperating cash flow above net income-$2.93B vs -$2.70B
- Less leverageLong-term debt to assets fell20.8% → 24.4%
- Better liquidityCurrent ratio rose4.18 → 1.25
- No dilutionShare count did not rise245M → 313M
- Gross margin improvedGross margin up on the prior year-114.27% → -92.81%
- More efficientAsset turnover rose0.09 → 0.14