Meridian™
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NIO · CIK 0001736541 · FY2025 live · 2025-12-31

NIO Inc.

DistressSEC 10-KClassic ZIndustrials17th percentile in Industrials · 430 names

View as

Model

Classic Z

FY2025

−1.11

Zone

Distress

Prior

—

Market DD

—

1y PD

—

−1.11

Z″ −4.18

−21.83.08+

Score −1.11 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    −0.02
    1.2 × = −0.02

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    −1.03
    1.4 × = −1.44

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    −0.11
    3.3 × = −0.37

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.04
    0.6 × = 0.02

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.70
    1 × = 0.70

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.

Meridian Rank

30.18

0–100 · Classic Z tape · not a PD

  • Book standing

    28

  • Year change

    —

  • Market PD

    —

  • O-score

    36

Events on this name

Same published rows as Today. Not a live recompute.

  • Market PD unavailable

    watch · 41

Overview

rule-v1

NIO Inc. is on classic Z at −1.11 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Distress; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 17th percentile in Industrials.

KPI widgets

Current assets

$11.0B

Total assets

$17.8B

Current liabilities

$11.2B

Total liabilities

$16.0B

Working capital

−$279M

Retained earnings

−$18.3B

EBIT

−$2.0B

Total sales

$12.5B

Book equity

$595M

Accession 0001104659-26-041765. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.