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Statement
Assets, liabilities and equity aligned across the annual filing history, in USD millions.
Assets
-13.1% YoYReported for FY 2025
Liabilities
+20.4% YoYReported for FY 2025
Equity
-81.5% YoYReported for FY 2025
Equity mix
-34.6 ppEquity share of the capital base
Table view
Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Commentary
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated May 31, 2026. The filing-backed figures above are the current source of truth.
Lucid Group’s balance sheet shows a broadly large asset base over the past five years, but with some volatility rather than a steady expansion. Total assets were relatively flat from 2021 to 2022 at about $7.9 billion, increased modestly in 2023 to $8.5 billion, and then rose further to a peak of $9.6 billion in 2024 before declining to about $8.4 billion in 2025. For an automotive/EV manufacturer still in a growth and investment phase, this pattern is consistent with heavy capital deployment, working-capital swings, and financing activity rather than mature, stable asset growth. Liabilities trended down from $4.0 billion in 2021 to $3.5 billion in 2022, then gradually increased to $3.7 billion in 2023 and $4.5 billion in 2024, before jumping to $5.4 billion in 2025. That sharper rise in 2025 suggests a more leveraged financing posture or increased operating obligations. Stockholders’ equity remained strong and rose from $3.9 billion in 2021 to a high of $4.9 billion in 2023, then fell to $3.9 billion in 2024 and dropped sharply to just $717 million in 2025. This steep erosion in equity is the most notable development in the period and materially weakens the company’s capital cushion, indicating either significant losses, adverse comprehensive income effects, or balance-sheet adjustments. In the EV sector, where profitability and cash burn are often key concerns, the 2025 equity decline stands out as a sign of increased financial stress and reduced balance-sheet resilience.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.