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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 August 23, 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 August 23, 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 August 23, 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 August 23, 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 340 | +32.8% | $1096684.876748M | 11.4x | 10.4x | 10% | 17% | 14% | 4% | 24% |
| Ford | United States of America | USD 12 | +2.3% | $46723.559886M | 0.9x | 0.9x | -2% | 14% | 7% | 2% | 5% |
| CATL | China | CNY 290 | +44.0% | $184438.88794911138M | 2.7x | 2.2x | 19% | 25% | 23% | 19% | 43% |
| BYD | China | CNY 108 | +35.2% | $137596.05924850365M | 1.0x | 0.8x | 19% | 20% | 14% | 4% | 32% |
| Volvo Group | Sweden | SEK 293 | +2.5% | $62067.78735916398M | 1.6x | 1.6x | 1% | 25% | 16% | 7% | 16% |
| LG Energy Solution | South Korea | KRW 367500 | +18.1% | $61354.439874M | 4.1x | 3.8x | 10% | 25% | 25% | -8% | 33% |
| XPeng | Hong Kong | HKD 92 | +121.3% | $22378.40341449113M | 2.4x | 1.5x | 55% | 17% | 2% | 6% | 55% |
| Hyundai Motors India | India | INR 2367 | NaN% | $22028.54445519739M | 2.6x | 2.4x | 9% | 27% | 13% | 4% | 22% |
| Rivian | United States of America | USD 13 | -21.6% | $15883.851256M | 2.8x | 2.3x | 23% | 0% | -30% | -48% | -16% |
| NIO | Hong Kong | HKD 46 | -1.8% | $13152.87045684621M | 1.3x | 1.0x | 34% | 11% | -5% | -6% | 22% |
| Joby Aviation | United States of America | USD 15 | +177.7% | $12796.92326M | 4364.6x | 347.3x | 1157% | 56% | -1448% | -1555% | -11407% |
| Zeekr Global | United States of America | USD 31 | +66.3% | $7867.066752M | 0.8x | 0.5x | 44% | NaN% | 3% | NaN% | 43% |
| Li Auto | Hong Kong | HKD 92 | +35.3% | $23925.127479928768M | 0.5x | 0.4x | 24% | 19% | 8% | 8% | 31% |
| VinFast | United States of America | USD 3 | -13.2% | $8115.679985M | 3.9x | 2.6x | 48% | -7% | -26% | NaN% | 7% |
| Ecopro BM Co. | South Korea | KRW 128200 | -38.2% | $8938.947848376869M | 4.8x | 3.8x | 27% | 10% | 9% | -10% | 34% |
| Leapmotor Technology | Hong Kong | HKD 71 | +142.6% | $12148.015396196753M | 1.3x | 0.8x | 66% | 14% | 4% | 16% | 68% |
| BAIC BluePark New Energy | China | CNY 9 | -15.3% | $7280.349219472458M | 2.0x | 1.2x | 72% | -4% | 1% | -17% | 70% |
| Polestar | United States of America | USD 1 | +45.5% | $2310.02824M | 2.4x | 1.6x | 48% | NaN% | NaN% | NaN% | n/a |
| Lucid | United States of America | USD 2 | -30.1% | $6237.164669M | 5.4x | 2.9x | 83% | -34% | -94% | -156% | -100% |
| Ninebot | China | CNY 66 | +47.7% | $6579.388490097818M | 2.0x | 1.5x | 32% | 30% | 12% | 14% | 44% |
| Pony AI | United States of America | USD 15 | NaN% | $5254.776858M | 58.8x | 48.2x | 22% | 18% | -200% | -231% | -230% |
| Archer Aviation | United States of America | USD 10 | +170.1% | $6237.404233M | 5037.8x | 84.3x | 5877% | 56% | -796% | -923% | -27365% |
| Volvo Cars | Sweden | SEK 20 | -38.1% | $6147.976521174684M | 0.1x | 0.1x | -2% | 18% | 11% | 0% | 8% |
| QuantumScape | United States of America | USD 8 | +33.1% | $4618.740637M | n/a | 1518.5x | n/a | 17% | -10088% | -10415% | n/a |
| Aima Technology Group | China | CNY 38 | +24.1% | $4591.580364663067M | 1.1x | 0.9x | 18% | 19% | 13% | NaN% | 31% |
| Mitsubishi Motors | Japan | JPY 405 | -9.0% | $3653.6569724772903M | 0.2x | 0.2x | 1% | 15% | 6% | 0% | 7% |
| Lotus Technology | United States of America | USD 2 | -64.2% | $1493.151743M | 2.5x | 1.4x | 82% | NaN% | -8% | NaN% | 54% |
| Ola Electric | India | INR 47 | NaN% | $2260.9581729922506M | 4.5x | 4.0x | 10% | 42% | -9% | -28% | -9% |
| Eos Energy Enterprises | United States of America | USD 6 | +189.6% | $1642.274789M | 19.2x | 5.3x | 259% | 10% | -11% | -29% | 149% |
| WeRide | United States of America | USD 10 | NaN% | $2708.715178M | 24.6x | 11.5x | 114% | 27% | -90% | -83% | -74% |
| Ehang | United States of America | USD 19 | +37.1% | $1332.439711M | 12.3x | 7.4x | 66% | 64% | 7% | 4% | 57% |
| Microvast | United States of America | USD 3 | +711.4% | $877.136515M | 2.7x | 2.2x | 26% | 33% | 25% | NaN% | 53% |
| Eve Air Mobility | United States of America | USD 4 | +89.0% | $1212.421083M | n/a | 328.3x | n/a | -257% | -5738% | -6496% | n/a |
| Kempower | Finland | EUR 16 | +6.8% | $1053.32994780222M | 3.6x | 2.7x | 33% | 28% | 9% | -1% | 37% |
| T1 Energy | United States of America | USD 2 | -33.9% | $247.941566M | 1.7x | 0.8x | 132% | 10% | 7% | NaN% | 137% |
| Uniconn | China | CNY 91 | NaN% | $1162.9074183767423M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Amprius | United States of America | USD 7 | +456.6% | $896.793751M | 17.3x | 6.4x | 172% | 11% | -2% | -4% | 145% |
| Sigma Lithium Canada | Canada | CAD 8 | -52.6% | $677.3925876808601M | 5.1x | 3.6x | 41% | 45% | 28% | -17% | 53% |
| LiveWire | United States of America | USD 4 | -49.1% | $827.174209M | 30.0x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Vertical Aerospace | United States of America | USD 5 | -34.2% | $511.099371M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Automob Participacoes | Brazil | BRL 11 | NaN% | $75.17899668207765M | 0.3x | 0.3x | 14% | 15% | 6% | -3% | 19% |
| Phoenix Bicycle | China | CNY 10 | +25.3% | $718.6973782576105M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ADS-TEC Energy | United States of America | USD 12 | +1.2% | $660.825819M | 5.3x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Fastned | Netherlands | EUR 21 | +21.7% | $481.57135073587995M | 4.9x | 3.3x | 50% | 73% | 18% | -46% | 63% |
| Solid Power | United States of America | USD 5 | +69.9% | $866.539336M | 31.5x | 28.6x | 10% | -3% | -376% | -425% | -435% |
| EVgo | United States of America | USD 4 | -12.2% | $544.151268M | 1.8x | 1.4x | 31% | 25% | 7% | -17% | 30% |
| Allego | United States of America | USD 0 | -99.8% | $0.27334M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Gogoro | United States of America | USD 0 | -76.0% | $105.489441M | 1.6x | 1.6x | 2% | 5% | 17% | NaN% | 17% |
| EV Motors | Spain | EUR 8 | NaN% | $473.12645376518M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Chijet Motors | United States of America | USD 1 | -20.6% | $45.713537M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ChargePoint | United States of America | USD 12 | -78.8% | $275.600162M | 0.9x | 0.8x | 15% | 35% | -8% | -8% | -2% |
| Lion Electric | United States of America | USD 0 | -98.6% | $0.022621M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| NWTN | United States of America | USD 1 | +40.0% | $324.341659M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lazydays Holdings | United States of America | USD 4 | -94.4% | $13.373644M | 0.4x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Alfen | Netherlands | EUR 11 | -36.3% | $266.31973614184M | 0.6x | 0.6x | 1% | 32% | 7% | 2% | 7% |
| Wallbox | United States of America | USD 5 | -84.1% | $77.959765M | 1.7x | 1.2x | 33% | NaN% | 1% | NaN% | 17% |
| Niu Techs | United States of America | USD 5 | +81.8% | $352.397153M | 0.4x | 0.3x | 30% | 15% | 4% | -1% | 33% |
| WLM Participacoes | Brazil | BRL 22 | -21.0% | $148.4338714135552M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Zaptec | Germany | EUR 2 | +120.8% | $215.95600483994M | 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 50 | -39.4% | $139.01221158516688M | 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 |
| Blink Charging | United States of America | USD 1 | -70.4% | $101.572872M | 0.7x | 0.7x | 7% | 35% | -33% | -30% | -45% |
| Ebusco Holding | Netherlands | EUR 0 | -86.7% | $27.490963813759997M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Workhorse | United States of America | USD 1 | -90.5% | $22.291235M | 6.4x | 4.6x | 38% | -74% | -155% | NaN% | -166% |
| Xos Trucks | United States of America | USD 3 | -49.7% | $27.375336M | 1.1x | 0.9x | 18% | 15% | -20% | NaN% | -10% |
| XCHG | United States of America | USD 1 | NaN% | $71.341845M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Beam Global | United States of America | USD 3 | -61.9% | $45.272172M | 1.2x | 1.1x | 7% | 25% | -23% | -7% | -34% |
| Stardust Power | United States of America | USD 0 | -97.2% | $33.787413M | 59.8x | 14.9x | 302% | -97% | -505% | NaN% | -1083% |
| Fly-E Group | United States of America | USD 1 | +21.9% | $12.658762M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hopium | France | EUR 0 | -99.3% | $1.45189194552M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Estrima | Italy | EUR 0 | -39.9% | $9.400311627659999M | 0.4x | 0.4x | 1% | NaN% | -1% | NaN% | -2% |
| Delta Autocorp | India | INR 67 | NaN% | $11.770198420803405M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ChargePanel | Sweden | SEK 2 | +58.3% | $8.298732046690308M | 4.8x | 2.9x | 65% | 68% | -8% | NaN% | 22% |
| Lobo EV Technologies | United States of America | USD 1 | -86.9% | $6.483924M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Nexity Global | Poland | PLN 2 | +0.4% | $5.900349650349651M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Kandi Technologies Group | United States of America | USD 2 | -41.7% | $129.62999M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Triggo | Poland | PLN 1 | -30.3% | $1.8623131555944057M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lilium | United States of America | USD 0 | -98.8% | $46.182779M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Stock prices as of August 23, 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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