Lucid Group vs Rivian Automotive
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KIRAβs take AI analyst
I put Lucid Group and Rivian Automotive side by side, using each oneβs latest annual report. Here is what stands out:
- Rivian Automotive is the larger business, with $5.4B of revenue in fiscal 2025 against $1.4B for Lucid Group, about 4.0 times as much.
- Lucid Group grew revenue faster (67.6%, against 8.4%).
- Rivian Automotive kept more of each dollar of sales as operating profit (β66.6% operating margin, against β258.7%).
- Rivian Automotive turned more of its sales into free cash flow (β46.2% FCF margin, against β280.7%).
- Rivian Automotive earned a higher return on the capital invested in it (β88.0%, against β136.7%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Lucid Group
LCID
1/9
Revenue growth
Rivian Automotive
RIVN
8/9
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | LCID FY25 | RIVN FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.3B | $15.1B |
| Revenue | $1.4B | $5.4B |
| Free cash flow | β$3.8B | β$2.5B |
| Net income | β$2.7B | β$3.6B |
| Growth | ||
| Revenue growth | 67.6% | 8.4% |
| 5-year growth | 220.6% | β |
| Share count change | 28.2% | 17.1% |
| Profitability | ||
| Gross margin | β92.8% | 2.7% |
| Operating margin | β258.7% | β66.6% |
| Net margin | β199.3% | β67.7% |
| FCF margin | β280.7% | β46.2% |
| Return on capital | β136.7% | β88.0% |
| Return on equity | β117.6% | β65.4% |
| Balance sheet | ||
| Net debt | $1.3B | β$1.5B |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 3 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.