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Lucid Group
(NASDAQ:LCID)
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Rating:49Neutral
Price Target:
$7.50
▲(19.05% Upside)
Action:Reiterated
Date:08/05/26
LCID scores low primarily due to very weak financial performance—deep losses, negative gross margins, and substantial ongoing cash burn—despite a moderately supportive liquidity narrative from the latest earnings call. Technicals are improved in the near term (price above key short/intermediate moving averages and positive MACD), but valuation remains constrained by continued losses and no dividend support.
Positive Factors
Strengthened liquidity and sponsor support
A ~$3.0B liquidity position plus an $800M post-quarter draw materially extends Lucid’s near-term runway into 2027, reducing immediate refinancing pressure and giving management time to execute restructuring, ramp AMP‑2, and pursue product validation without urgent capital raises.
Negative Factors
Deep and persistent cash burn
Very large negative operating and free cash flows imply ongoing reliance on external capital. Persistent cash burn erodes flexibility, forces dilutive financing or asset sales, and constrains investment in production, quality, and service — all critical to executing a multi-year turnaround.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened liquidity and sponsor support
A ~$3.0B liquidity position plus an $800M post-quarter draw materially extends Lucid’s near-term runway into 2027, reducing immediate refinancing pressure and giving management time to execute restructuring, ramp AMP‑2, and pursue product validation without urgent capital raises.
Read all positive factors
Lucid Group Key Performance Indicators (KPIs)
Any
Vehicle Deliveries
Tracks the number of vehicles delivered to customers, indicating production efficiency, demand fulfillment, and revenue generation potential.
Tracks the number of vehicles delivered to customers, indicating production efficiency, demand fulfillment, and revenue generation potential.
Data provided by:
The Fly
The FlyLucid Group (LCID) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.77B
Dividend YieldN/A
Average Volume (3M)21.56M
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth66.54%
EPS Growth-22.69%
CountryUS
Employees9,000
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-13.69
Shares Outstanding394,070,200
10 Day Avg. Volume38,215,502
30 Day Avg. Volume21,558,151
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)4.59
Price to Sales (P/S)2.43
P/FCF Ratio-0.86
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.14Price Target Upside45.12% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)-9.71
Revenue Forecast (FY)$1.77B
Lucid Group Business Overview & Revenue Model
Company Description
Lucid Group, Inc. (LCID) is an automotive and technology company focused on designing, engineering, and manufacturing luxury electric vehicles (EVs). The company’s core products include the Lucid Air sedan and the Lucid Gravity SUV, along with rel...
How the Company Makes Money
Lucid primarily makes money by selling electric vehicles to customers, which is recorded as automotive sales revenue. This includes revenue from the vehicle itself and, where applicable, customer-selected options and features sold as part of the v...
Lucid Group Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Neutral
The call balanced clear positive operational and strategic steps (strengthened liquidity position, a defined $1.4B improvement plan, sequential revenue and deliveries growth, robotaxi partnership momentum, and concrete quality/service initiatives) against material near‑term financial and operational challenges (very large negative gross margins and EBITDA, a $300M inventory impairment, substantial free cash outflow, production curtailment, and guidance uncertainty). Management presented specific remediation actions and a path to extend runway into 2027, but the company remains in a turnaround phase with meaningful execution risk.Positive Updates
Liquidity and Short-Term Runway
Total liquidity of ~$3.0 billion as of June 30, 2026 (including ~$800 million cash and investments and ~$2.2 billion available borrowing capacity). Post-quarter draw of an additional $800 million under the Delayed Draw Term Loan Facility; management expects liquidity to extend well into 2027.
Negative Updates
Severe Profitability and Cash‑Burn
Q2 gross margin of -105% (was -110% in prior quarter); adjusted EBITDA of -$901 million (worse than -$781 million in Q1). Free cash flow of -$1.476 billion in Q2, reflecting substantial working capital tied up and ongoing cash consumption despite identified savings.
Read all updates
Q2-2026 Updates
Positive
Negative
Liquidity and Short-Term Runway
Total liquidity of ~$3.0 billion as of June 30, 2026 (including ~$800 million cash and investments and ~$2.2 billion available borrowing capacity). Post-quarter draw of an additional $800 million under the Delayed Draw Term Loan Facility; management expects liquidity to extend well into 2027.
Read all positive updates
Company Guidance
The company did not give formal forward guidance but offered clear directional metrics: as of June 30 Lucid reported $3.0 billion of total liquidity (≈$800M cash & investments + $2.2B available borrowing capacity) and drew an additional $800M post‑quarter, which management expects—together with an identified ~$1.4 billion of 2026 cash‑flow improvements—to extend runway well into 2027; operationally Q2 production was 4,774 vehicles (down 13% vs Q1’s 5,500, up 24% YoY), Q2 deliveries were 3,953 (+28% vs Q1’s 3,093, +19% YoY), revenue ≈$405M (+44% sequential, +56% YoY) with ASP +3.7% q/q and $25M of regulatory credit revenue, gross margin -105% (including a $300M inventory impairment that reduced margin by ~74 ppts), adjusted EBITDA -$901M, and free cash flow -$1.476B; near‑term operating actions include a U.S. workforce reduction and single‑shift at AMP‑1 (≈$115M projected annualized savings), expectation that Q3/Q4 production will be below Q2 while second‑half deliveries should grow seasonally (but more moderately than last year), robotaxi validation with ~100 engineering vehicles (regular production in Q4 and launch late‑2026), AMP‑2 ready for production in early 2027 with Midsize production in H2 2027, and service investments to add ~35% more technicians, >20% more mobile capacity and target >30% shorter wait times; a Q3 (November) liquidity and $1.4B progress update and year‑end 2027 guidance are planned.Lucid Group Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.55B | 1.35B | 807.83M | 595.27M | 608.18M | 27.11M |
| Gross Profit | -1.49B | -1.26B | -923.11M | -1.34B | -1.04B | -127.79M |
| EBITDA | -3.41B | -2.15B | -2.38B | -2.57B | -1.07B | -2.50B |
| Net Income | -4.08B | -2.70B | -2.71B | -2.83B | -1.30B | -2.58B |
Balance Sheet | ||||||
| Total Assets | 7.70B | 8.39B | 9.65B | 8.51B | 7.88B | 7.88B |
| Cash, Cash Equivalents and Short-Term Investments | 761.31M | 997.83M | 4.03B | 3.86B | 3.91B | 6.26B |
| Total Debt | 3.36B | 860.53M | 2.48B | 2.43B | 2.35B | 2.21B |
| Total Liabilities | 5.85B | 7.67B | 5.78B | 3.66B | 3.53B | 3.97B |
| Stockholders Equity | 1.85B | 717.29M | 3.87B | 4.85B | 4.35B | 3.91B |
Cash Flow | ||||||
| Free Cash Flow | -6.56B | -3.83B | -2.90B | -3.40B | -3.30B | -1.48B |
| Operating Cash Flow | -5.28B | -2.96B | -2.02B | -2.49B | -2.23B | -1.06B |
| Investing Cash Flow | 1.64B | 1.48B | -1.29B | -946.98M | -3.68B | -420.69M |
| Financing Cash Flow | 2.37B | 915.16M | 3.55B | 3.07B | 1.35B | 7.14B |
Lucid Group Technical Analysis
Neutral
6.30
Price Trends
6.17
Positive
6.91
Positive
9.64
Negative
Market Momentum
0.32
Positive
52.27
Neutral
32.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LCID, the sentiment is Neutral. The current price of 6.3 is below the 20-day moving average (MA) of 6.90, above the 50-day MA of 6.17, and below the 200-day MA of 9.64, indicating a neutral trend. The MACD of 0.32 indicates Positive momentum. The RSI at 52.27 is Neutral, neither overbought nor oversold. The STOCH value of 32.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LCID.
Lucid Group Risk Analysis
Lucid Group disclosed 98 risk factors in its most recent earnings report. Lucid Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lucid Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $23.17B | -6.20 | -67.49% | ― | 14.21% | 20.20% | |
49 Neutral | $2.77B | -0.51 | -440.92% | ― | 66.54% | -22.69% | |
49 Neutral | $11.37B | -34.28 | -7.56% | ― | 49.73% | 54.60% | |
47 Neutral | $11.62B | -8.04 | -328.93% | ― | 51.42% | 66.12% | |
46 Neutral | $13.06B | -48.41 | -2.49% | ― | -23.38% | -123.25% | |
42 Neutral | $7.84B | -1.91 | 61.92% | ― | 74.15% | -29.12% |
* Consumer Cyclical Sector Average
LCID
Lucid Group
7.04
-14.86
-67.85%
NIO
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4.74
-0.17
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LI
Li Auto
12.95
-11.12
-46.20%
XPEV
XPeng, Inc. ADR
12.13
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-43.26%
VFS
VinFast Auto
3.35
-0.13
-3.74%
RIVN
Rivian Automotive
16.00
4.07
34.12%
Lucid Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Lucid Group Refutes Bankruptcy Rumors, Affirms Liquidity
Positive
Jul 15, 2026
Lucid Group, Inc. stated that recent rumors about its financial distress and board-level consideration of bankruptcy are completely false. The company said it has sufficient liquidity to fund operations well into next year, as reflected in its lat...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Lucid Group strengthens liquidity with $800 million draw
Positive
Jul 6, 2026
On July 6, 2026, Lucid Group, Inc. drew $800 million under its Delayed Draw Term Loan facilities pursuant to an existing agreement with Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund. The funding infusio...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Appoints New CFO With Performance Incentives
Positive
Jul 2, 2026
On July 1, 2026, Lucid Group’s board appointed veteran automotive finance executive Alexander De Bock as incoming chief financial officer, succeeding current CFO Taoufiq Boussaid after a post‑Q2 2026 transition. De Bock brings nearly t...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Restructuring Plan and Leadership Changes Announced
Negative
Jun 22, 2026
On June 22, 2026, Lucid Group announced a restructuring plan aimed at accelerating its path to profitability and positive cash flow by streamlining its organizational structure, cutting operating expenses, and aligning production with anticipated ...
Business Operations and StrategyShareholder Meetings
Lucid Shareholders Approve Expanded 2021 Equity Incentive Plans
Neutral
Jun 5, 2026
At its Annual Meeting of Stockholders on June 4, 2026, Lucid Group, Inc. secured shareholder approval for its Amended and Restated 2021 Stock Incentive Plan, which also covers the updated 2021 Employee Stock Purchase Plan. As part of this approval...
Business Operations and StrategyExecutive/Board Changes
Lucid Group Completes Leadership Transition, Appoints New CEO
Positive
Jun 1, 2026
On June 1, 2026, Lucid Group, Inc. announced that Silvio Napoli formally assumed the role of chief executive officer and principal executive officer, completing a planned leadership transition first signaled in April. Interim CEO Marc Winterhoff s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.