One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Lucid Group, Inc.
LCID · NMS · Consumer Cyclical · Auto Manufacturers
Current price
$4.19
52-week range
$2.37 - $25.23
Market cap
$1.65B
Balance sheet
Distressed
-36.82x Concerning
Net debt $2.90B. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 14.3% last year.
- Risk Return on equity was -126.0% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 15.4% (peer median: 17.8%).
What this company does
Lucid Group, Inc.
Lucid Group is a company that designs and sells luxury electric cars, such as its Air sedan. It makes its money mainly from selling these vehicles directly to customers, but it also develops its own core technology like battery systems and powertrains (the motor and other parts that make the car go). This matters because controlling its own technology could give Lucid an edge over competitors and make it less reliant on the global supply chain (the complex network of companies that provide parts and materials).
How the company got here
Lucid was founded in 2007, but not originally to make cars. Under its first name, Atieva, the company focused on developing advanced battery technology for other electric vehicles. After becoming experts in batteries, they decided in 2016 to build their own luxury electric car and changed their name to Lucid Motors. A major turning point was a large investment in 2018 from Saudi Arabia's Public Investment Fund, which provided the money needed to build a factory in Arizona. The company went public on the stock market in 2021 through a merger and began delivering its first car, the Lucid Air sedan, that same year.
What it actually does
Lucid designs, builds, and sells high-end electric vehicles (EVs) that are known for their long driving range, fast charging, and luxury features. Their first vehicle is the Lucid Air, a luxury sedan, and they have recently started producing their second model, the Lucid Gravity, which is an SUV. The company develops its own core technology, including the batteries, motors, and software that power the cars. They sell their cars directly to customers through their own showrooms and online store, rather than through traditional car dealerships.
Electric Vehicles
This is Lucid's main business and where almost all of its money comes from. The company generates revenue (the total money it brings in from sales) by selling its two luxury electric car models, the Air sedan and the Gravity SUV, directly to consumers. Customers can buy different versions of these cars at various price points, from a base model to a very high-performance version. This part of the business is focused on establishing the Lucid brand as a top-tier name in the luxury electric car market, competing with established players like Tesla and Mercedes-Benz.
Technology Licensing
While much smaller than its car sales, Lucid also makes money by selling its advanced electric vehicle technology to other automakers. This includes their in-house designed battery systems and powertrain components (the motor and other parts that make the car move). For example, Lucid has a major agreement to supply this technology to the luxury car brand Aston Martin for its future electric vehicles. This strategy allows Lucid to earn money from its research and development beyond just the cars it sells itself, creating another stream of revenue.
What management is betting on now
Management is focused on expanding from a niche luxury brand to a larger-scale automaker. A key part of this strategy is launching a new, more affordable line of midsize vehicles, with the first models expected to start under $50,000 to attract more customers. They are also working to increase production at their factories and reduce costs to improve profitability (the ability to make more money than is spent). Additionally, Lucid is investing in future opportunities like autonomous driving, developing a robotaxi concept, and forming partnerships with companies like Uber to create future revenue from software and services.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-622.49M
FY2024 Q4
$-824.78M
FY2025 Q1
$-589.85M
FY2025 Q2
$-1.01B
FY2025 Q3
$-955.47M
FY2025 Q4
$-1.24B
FY2026 Q1
$-1.44B
FY2026 Q2
$-1.48B
Revenue
$405.35M
Net income
$-1.03B
Diluted EPS
-3.30
Operating cash flow
$-1.22B
Free cash flow
$-1.48B
Fetching…
Sources
Revenue
$282.46M
Net income
$-1.03B
Diluted EPS
-3.46
Operating cash flow
$-1.19B
Free cash flow
$-1.44B
Fetching…
Sources
Revenue
$522.73M
Net income
$-814.02M
Diluted EPS
-8.26
Operating cash flow
$-916.41M
Free cash flow
$-1.24B
Fetching…
Sources
Revenue
$336.58M
Net income
$-978.43M
Diluted EPS
-3.31
Operating cash flow
$-756.65M
Free cash flow
$-955.47M
Fetching…
Sources
Revenue
$259.43M
Net income
$-539.43M
Diluted EPS
-0.28
Operating cash flow
$-830.24M
Free cash flow
$-1.01B
Fetching…
Sources
Revenue
$235.05M
Net income
$-366.17M
Diluted EPS
-0.24
Operating cash flow
$-428.61M
Free cash flow
$-589.85M
Fetching…
Sources
Revenue
$234.47M
Net income
$-397.22M
Diluted EPS
-0.20
Operating cash flow
$-533.15M
Free cash flow
$-824.78M
Fetching…
Sources
Revenue
$200.04M
Net income
$-992.48M
Diluted EPS
-0.41
Operating cash flow
$-462.80M
Free cash flow
$-622.49M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $4.19
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $2.9B. Interest coverage -36.8x.
Net debt
$2.90B
Interest coverage
-36.82x
Lucid Group, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
LCID
BASELINE
Lucid Group, Inc.
Total debt $3.66B Interest coverage -36.82x This is the baseline the peer rows are being compared against.
Total debt $5.35B Interest coverage -13.08x Neither company has much profit cushion over interest right now.
Total debt $16.08B Interest coverage 14.35x This peer still has a real interest-payment cushion, while LCID does not.
Total debt $6.02B Interest coverage -5.29x Neither company has much profit cushion over interest right now.
Total debt $4.33B Interest coverage -15.86x Neither company has much profit cushion over interest right now.
Total debt $2.19B Interest coverage -3.10x Neither company has much profit cushion over interest right now.
What you should know
The case for and against LCID
1 Reward
2 Risks
Rewards
-
Revenue grew 14.3% last year.
Risks
-
Return on equity was -126.0% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 15.4% (peer median: 17.8%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-0.84x
P/B
-1.56x
P/S
1.07x
EV/EBITDA
-2.08x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-100.6%
Operating margin
-261.0%
Net margin
-249.2%
ROE
-126.0%
ROA
-30.7%
Health
Liquidity and balance-sheet strength
Debt / equity
1.98x
Current ratio
1.14x
Quick ratio
0.40x
Total debt
$3.66B
Total cash
$761.31M
Growth
How the business has been compounding
Revenue TTM
$1.55B
Revenue 5Y CAGR
165.8%
EPS TTM
-14.12
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-4.08B
Free CF TTM
$-3.80B
FCF margin
-245.6%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—