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companies tracked
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cumulative enterprise value
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median EV/NTM revenue multiple
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median NTM/LTM revenue growth
This chart shows the weighted market cap evolution over time, indexed to 0% at the beginning of the period
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Data as of October 7, 2025. Index data powered by FactSet and Morningstar, S&P 500 data sourced from Yahoo Finance.
This chart shows the weighted median evolution over time of key valuation metrics
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This chart shows the regression relationship between valuation metrics across companies in the index
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Data as of October 7, 2025. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.
This chart shows company rankings by selected metric within the index
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Data as of October 7, 2025. Companies with EV multiples above 50x are considered non-meaningful and excluded from calculation.
Compare key metrics between companies in the index
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Data as of October 7, 2025.
This chart shows the cumulative sum of selected metrics across all companies in the index over time
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Similar to NASDAQ 100 Index, 🚗 Multiples Electric Vehicles Index employs a modified market capitalization weighting scheme.
The weight process uses company-level weightss, which are derived using company enterprise value.
Company weights are evaluated based on two rules:
No company’s weight may exceed 24%.
The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.
If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.
If no company’s initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company’s weight may exceed 20% of the Index.
If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:
If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.
| Company | HQ | Stock Price | 1Y Perf. | Market Cap | EV/Revenue (LTM) | EV/Revenue (NTM) | Revenue Growth NTM/LTM | Gross Margin (NTM) | EBITDA Margin (NTM) | FCF Margin (NTM) | Rule of 40 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tesla | United States of America | USD 453 | +70.0% | $1507124.639079M | 15.7x | 13.9x | 13% | 16% | 14% | 3% | 27% |
| CATL | China | CNY 407 | +61.2% | $260980.2371741951M | 3.9x | 3.2x | 20% | 25% | 23% | 19% | 43% |
| Ford | United States of America | USD 13 | +13.3% | $50544.225771M | 0.9x | 1.0x | -2% | 15% | 7% | 1% | 5% |
| BYD | China | CNY 106 | +10.2% | $135145.7264627253M | 1.0x | 0.8x | 17% | 19% | 13% | 5% | 29% |
| Volvo Group | Sweden | SEK 276 | +0.3% | $59732.25887286424M | 1.5x | 1.5x | 2% | 24% | 16% | 7% | 16% |
| LG Energy Solution | South Korea | KRW 399000 | -16.2% | $66308.253102M | 4.5x | 4.0x | 13% | 21% | 26% | -7% | 36% |
| XPeng | Hong Kong | HKD 91 | +75.9% | $22205.143473580254M | 2.2x | 1.4x | 52% | 16% | 3% | 7% | 52% |
| Hyundai Motors India | India | INR 2481 | NaN% | $22716.383885082938M | 2.7x | 2.5x | 11% | 27% | 14% | 4% | 25% |
| NIO | Hong Kong | HKD 60 | +1.9% | $18937.65437403483M | 1.8x | 1.2x | 44% | 14% | -3% | -1% | 33% |
| Joby Aviation | United States of America | USD 20 | +221.3% | $16751.557739M | 4926.7x | 396.7x | 1142% | 59% | -1227% | -1335% | -11422% |
| Rivian | United States of America | USD 13 | +30.8% | $16381.359202M | 2.9x | 2.3x | 27% | 0% | -28% | -51% | -13% |
| Li Auto | Hong Kong | HKD 96 | -6.2% | $25080.777853359275M | 0.7x | 0.5x | 23% | 20% | 7% | 7% | 29% |
| Zeekr Global | United States of America | USD 30 | +36.7% | $7654.443326M | 0.7x | 0.5x | 40% | NaN% | 4% | NaN% | 39% |
| VinFast | United States of America | USD 3 | -15.7% | $7671.305577M | 3.5x | 2.4x | 45% | -5% | -24% | NaN% | -3% |
| Leapmotor Technology | Hong Kong | HKD 67 | +98.1% | $12324.739546546076M | 1.2x | 0.7x | 65% | 15% | 4% | 16% | 68% |
| Ecopro BM Co. | South Korea | KRW 116300 | -38.8% | $8072.055359333317M | 4.5x | 3.5x | 28% | 9% | 9% | -10% | 36% |
| QuantumScape | United States of America | USD 16 | +114.3% | $8897.867993M | n/a | 2669.0x | n/a | 18% | -8348% | -8520% | n/a |
| Pony AI | United States of America | USD 23 | NaN% | $8317.398665M | 96.5x | 77.1x | 25% | 19% | -200% | -220% | -237% |
| Lucid | United States of America | USD 24 | -32.6% | $7381.346M | 6.2x | 3.3x | 88% | -29% | -84% | -149% | -93% |
| Archer Aviation | United States of America | USD 14 | +245.9% | $8798.158609M | 6584.5x | 110.6x | 5852% | 56% | -660% | -771% | -27389% |
| Polestar | United States of America | USD 1 | -45.3% | $2029.433983M | 2.5x | 1.7x | 47% | -4% | -5% | NaN% | 31% |
| BAIC BluePark New Energy | China | CNY 8 | +0.1% | $6324.986742174081M | 1.7x | 1.0x | 72% | -9% | 1% | -13% | 70% |
| Ninebot | China | CNY 67 | +38.8% | $6732.101804808017M | 2.0x | 1.5x | 31% | 30% | 13% | 17% | 43% |
| Volvo Cars | Sweden | SEK 21 | -30.9% | $6727.041850535704M | 0.1x | 0.1x | 0% | 18% | 10% | 0% | 7% |
| Eos Energy Enterprises | United States of America | USD 14 | +284.2% | $3869.938971M | 36.1x | 10.6x | 240% | 10% | -14% | -34% | 123% |
| Mitsubishi Motors | Japan | JPY 406 | +4.6% | $3633.8010045566884M | 0.2x | 0.2x | 1% | 16% | 5% | 0% | 6% |
| Aima Technology Group | China | CNY 35 | -7.4% | $4237.829358359161M | 1.0x | 0.8x | 17% | 18% | 13% | 18% | 30% |
| Lotus Technology | United States of America | USD 2 | -59.6% | $1533.874063M | 3.2x | 1.7x | 83% | NaN% | -11% | NaN% | 46% |
| Ola Electric | India | INR 53 | -42.8% | $2480.1611413569976M | 5.1x | 4.5x | 15% | 41% | -10% | -30% | -8% |
| WeRide | United States of America | USD 11 | NaN% | $3215.176629M | 30.0x | 14.3x | 110% | 30% | -94% | -129% | -100% |
| Microvast | United States of America | USD 5 | +1443.1% | $1503.135992M | 4.1x | 3.2x | 27% | 33% | 25% | NaN% | 54% |
| Amprius | United States of America | USD 13 | +850.2% | $1681.019249M | 29.7x | 10.9x | 172% | 12% | 1% | -1% | 145% |
| Eve Air Mobility | United States of America | USD 5 | +17.6% | $1522.462434M | n/a | 348.3x | n/a | -254% | -4728% | -5446% | n/a |
| Ehang | United States of America | USD 19 | +31.3% | $1399.385629M | 18.4x | 11.0x | 67% | 62% | -8% | -5% | 26% |
| T1 Energy | United States of America | USD 3 | +124.7% | $471.687286M | 1.8x | 0.9x | 108% | 10% | 7% | NaN% | 112% |
| Uniconn | China | CNY 100 | NaN% | $1281.601597591854M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| LiveWire | United States of America | USD 5 | -22.1% | $1016.650075M | 37.2x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Sigma Lithium Canada | Canada | CAD 11 | -47.5% | $840.031432728M | 5.9x | 3.8x | 53% | 50% | 26% | -17% | 64% |
| Kempower | Finland | EUR 15 | +23.4% | $963.9274019465402M | 3.2x | 2.3x | 35% | 28% | 10% | 0% | 40% |
| Vertical Aerospace | United States of America | USD 6 | -25.1% | $619.739365M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Solid Power | United States of America | USD 6 | +158.0% | $1046.010872M | 40.2x | 36.0x | 12% | 5% | -364% | -408% | -434% |
| Automob Participacoes | Brazil | BRL 12 | NaN% | $87.02095660781866M | 0.3x | 0.3x | 12% | NaN% | 5% | -2% | 17% |
| EVgo | United States of America | USD 5 | +14.3% | $657.291631M | 2.0x | 1.6x | 30% | 26% | 8% | -16% | 29% |
| ADS-TEC Energy | United States of America | USD 11 | -10.3% | $647.276726M | 5.6x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Fastned | Netherlands | EUR 22 | +6.6% | $508.32796020564007M | 4.8x | 3.3x | 46% | 72% | 18% | -49% | 59% |
| Phoenix Bicycle | China | CNY 9 | +12.3% | $669.5701652982756M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Allego | United States of America | USD 0 | -100.0% | $0.027334M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| EV Motors | Spain | EUR 9 | NaN% | $484.00120876980003M | NaNx | 0.7x | NaN% | 27% | 5% | -12% | NaN% |
| Gogoro | United States of America | USD 6 | -43.3% | $89.555371M | 1.6x | 1.5x | 3% | 5% | 17% | NaN% | 18% |
| ChargePoint | United States of America | USD 12 | -60.1% | $281.640315M | 1.0x | 0.9x | 7% | 36% | -13% | -16% | -17% |
| Lion Electric | United States of America | USD 0 | -98.8% | $0.791761M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Niu Techs | United States of America | USD 6 | +103.9% | $433.479683M | 0.5x | 0.4x | 28% | 15% | 4% | -1% | 32% |
| Chijet Motors | United States of America | USD 0 | -93.0% | $3.000172M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Wallbox | United States of America | USD 6 | -81.7% | $99.283304M | 1.7x | 1.3x | 38% | NaN% | 4% | NaN% | 22% |
| Lazydays Holdings | United States of America | USD 3 | -95.4% | $10.945469M | 0.4x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Alfen | Netherlands | EUR 10 | -26.6% | $263.29853247222M | 0.6x | 0.5x | 2% | 31% | 6% | 1% | 8% |
| Blink Charging | United States of America | USD 3 | -4.7% | $286.02796M | 2.4x | 2.1x | 11% | 36% | -29% | -29% | -41% |
| Zaptec | Germany | EUR 3 | +188.1% | $265.985159253M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| WLM Participacoes | Brazil | BRL 21 | -27.5% | $140.32663087974026M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Next e GO | United States of America | USD 0 | +0.0% | $0.009438M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| MIC Electronics | India | INR 60 | -41.8% | $164.07741975476097M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Ebusco Holding | Netherlands | EUR 0 | -76.6% | $42.491862456060005M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Canoo | United States of America | USD 0 | -99.4% | $5.359834M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| XCHG | United States of America | USD 1 | -87.3% | $76.395226M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Xos Trucks | United States of America | USD 3 | -40.7% | $30.746965M | 1.1x | 0.9x | 22% | 10% | -23% | NaN% | -8% |
| Workhorse | United States of America | USD 1 | -89.9% | $17.679255M | 5.5x | 4.2x | 32% | -65% | -147% | NaN% | -171% |
| Beam Global | United States of America | USD 3 | -41.3% | $60.146101M | 1.7x | 1.4x | 19% | 26% | -21% | -8% | -22% |
| Stardust Power | United States of America | USD 4 | -96.2% | $33.8359M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Fly-E Group | United States of America | USD 1 | -87.0% | $22.075921M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hopium | France | EUR 0 | -99.4% | $1.1574903633000002M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lobo EV Technologies | United States of America | USD 1 | -65.2% | $9.528466M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ChargePanel | Sweden | SEK 2 | +28.9% | $7.709840114652871M | 4.5x | 2.5x | 81% | 68% | -4% | NaN% | 35% |
| Delta Autocorp | India | INR 61 | NaN% | $10.484834945230194M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Nexity Global | Poland | PLN 3 | -2.5% | $6.939701702980767M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Triggo | Poland | PLN 1 | -75.9% | $1.3312845608160209M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Kandi Technologies Group | United States of America | USD 1 | -41.3% | $104.196258M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lilium | United States of America | USD 0 | -96.1% | $15.81602M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Stock prices as of October 7, 2025. Rule of 40 and revenue per FTE data is based on the last fiscal year. Financial data powered by Morningstar and FactSet.
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Explore indexGet access to always up-to-date, precisely categorized 70K+ public and private valuation multiples, across tech and beyond.
