Lucid Group Inc
LCID
Lucid Group Inc AI Insights
Informational only. Not investment advice.Snapshot
- Gross margin -98% TTM (losing $1.04 on every $1 of revenue) vs industry median +19% - unit economics fundamentally broken[Gross Margin TTM]
- FCF burn of -3.4B TTM with only 1.6B cash - requires continued equity dilution (2B issued TTM) to survive[Free Cash Flow TTM]
- R&D of 1.1B TTM exceeds total revenue of 1.1B - spending more on development than generating in sales[Research and Development TTM]
Watch Triggers
- Gross Margin TTM: Improves to > -50% — First sign unit economics improving; current -98% means every sale destroys value
- Cash and Equivalents: Falls below 1B without new financing — At -3.4B FCF burn, signals imminent liquidity crisis within 3-4 months
- Net Common Stock Issuance TTM: Exceeds 2.5B — Accelerating dilution indicates worsening cash needs beyond current burn
Bull Case
Revenue grew 68% YoY (1.1B TTM) with 5Y CAGR of 299% - production scaling continues despite losses
PPE of 4.0B and tangible book of 1.8B provide asset base; P/B of 2.2x reasonable if turnaround succeeds
Bear Case
Negative gross margin (-98%) means scaling production INCREASES losses - no operating leverage path
Debt/equity 1.56x with -2.3B net income TTM and ROE -102% - balance sheet deteriorating rapidly
Bull vs Bear Balance
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Forward Thesis
Cash runway exhaustion likely within 6-9 months without additional capital raises
- 1.6B cash vs -3.4B annual FCF burn rate
- 2B equity issuance TTM shows ongoing dilution
- No path to positive gross margin visible
Valuation Context
Caveats
Public Strategies Rankings
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LCID Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.21B | — | ||
$4.39B | — | ||
0.00 | — | ||
$1.07B | +45.9% | — | |
$-13.10 | — | ||
-298% | +113.8% | — | |
-214% | +192.5% | — | |
$-3.38B | — | ||
-1.0 | -28.3% | — | |
Beta 5Y (Monthly) | unknown | — |
LCID Dividend History
LCID Stock Splits
LCID SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/05/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/06/25 | 03/31/25 | 10-Q | |
02/25/25 | 12/31/24 | 10-K | |
11/07/24 | 09/30/24 | 10-Q | |
08/05/24 | 06/30/24 | 10-Q | |
05/06/24 | 03/31/24 | 10-Q | |
02/27/24 | 12/31/23 | 10-K | |
11/07/23 | 09/30/23 | 10-Q | |
08/07/23 | 06/30/23 | 10-Q | |
05/08/23 | 03/31/23 | 10-Q | |
02/28/23 | 12/31/22 | 10-K | |
11/08/22 | 09/30/22 | 10-Q | |
08/03/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
11/15/21 | 09/30/21 | 10-Q | |
08/03/22 | 06/30/21 | 10-Q | |
05/05/22 | 03/31/21 | 10-Q | |
02/28/23 | 12/31/20 | 10-K | |
11/15/21 | 09/30/20 | 10-Q |