Airbnb vs Volkswagen: Revenue, Profit and Business Model
Airbnb reported $12.2B of revenue in FY2025 and $2.5B of net income. Volkswagen reported ~$363.8B of revenue in FY2025 and ~$7.5B of net income.
Latest financial snapshot
Airbnb
- Latest revenue
- $12.2B (FY2025)
- Net income
- $2.5B
- Net margin
- 20.5%
- Revenue growth
- +24.9% a year, FY2016–FY2025
Volkswagen
- Latest revenue
- ~$363.8B (FY2025)
- Net income
- ~$7.5B
- Net margin
- 2.1%
- Revenue growth
- +6.5% a year, FY2021–FY2025
Financial summary
Airbnb
Airbnb revenue increased from $1.656 billion in 2016 to $12.241 billion in 2025. The company recorded losses from 2016 through 2021 and profits from 2022 through 2025. FY2025 gross booking value of $91.273 billion represented booking value processed on the platform and was not revenue.
Volkswagen
Volkswagen Group reported ~$364 billion (EUR 321.9 billion) in 2025 sales revenue, slightly below ~$367 billion (EUR 324.7 billion) in 2024, and an operating result of ~$10.1 billion (EUR 8.9 billion), a 2.8% margin. Earnings were held down by U.S. tariffs, restructuring provisions, the cost of Porsche's product strategy change, and weaker results from the Chinese joint ventures. Deliveries were broadly stable at 8.984 million vehicles. The December 2024 agreement with IG Metall for the Volkswagen brand in Germany avoids compulsory redundancies but plans to cut more than 35,000 jobs by 2030 through attrition and early retirement, and to reduce German plant capacity. In the first half of 2026 sales revenue was about $179 billion (EUR 158.1 billion), roughly flat, while the operating result fell 11.6% to about $6.67 billion (EUR 5.9 billion) (3.8% margin). In September 2026 Volkswagen cut its full-year forecast to about $356 billion (EUR 315 billion) in sales revenue and an operating margin of up to 1%, citing China, a faster shift to EVs, a roughly $6.78 billion (EUR 6 billion) goodwill impairment on the Porsche segment, and extra restructuring and China impairments.
Revenue and profit by year
Airbnb
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $12.2B | $2.5B | 20.5% | +10.3% | Source |
| FY2024 | $11.1B | $2.6B | 23.9% | +11.9% | Source |
| FY2023 | $9.9B | $4.8B | 48.3% | +18.1% | Source |
| FY2022 | $8.4B | $1.9B | 22.5% | +40.2% | Source |
| FY2021 | $6B | -$352M | -5.9% | +77.4% | Source |
| FY2020 | $3.4B | -$4.6B | -135.7% | -29.7% | Source |
| FY2019 | $4.8B | -$674.3M | -14.0% | +31.6% | Source |
| FY2018 | $3.7B | -$16.9M | -0.5% | +42.6% | Source |
| FY2017 | $2.6B | -$70M | -2.7% | +54.7% | Source |
| FY2016 | $1.7B | -$147.3M | -8.9% | — | Source |
Volkswagen
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$363.8B | ~$7.5B | 2.1% | -0.8% | Source |
| FY2024 | ~$366.9B | ~$12.1B | 3.3% | +0.7% | Source |
| FY2023 | ~$364.2B | ~$18B | 4.9% | +15.5% | Source |
| FY2022 | ~$315.3B | ~$16.8B | 5.3% | +11.5% | Source |
| FY2021 | ~$282.7B | ~$16.8B | 5.9% | — | Source |
Where the revenue comes from
Airbnb
- Reservation service fees
Not formally reported
Airbnb earns service fees from reservations for stays, experiences, and services. Revenue is recognized when the reservation occurs; gross booking value is not reported as revenue.
Volkswagen
- Passenger vehicle sales
- Premium and luxury vehicle sales
- Commercial vehicles
- Parts and aftersales
- Financial services
- Leasing and fleet services
- Software and mobility services
Business model and strategy
Airbnb
How it makes money
Airbnb provides a marketplace on which hosts offer stays, experiences, and services and guests make reservations. The company recognizes service-fee revenue after a reservation occurs. Hosts provide the accommodations and other offerings, so gross booking value is the value of bookings on the platform, not Airbnb revenue.
Growth strategy
Airbnb's stated growth priorities are improving its core marketplace, expanding outside its largest markets, adding offerings beyond homes, and integrating AI into the app. The May 2025 release added services, rebuilt experiences, and an updated app; the May 2026 release added more trip services and boutique hotels in selected markets.
Competitive advantage
Airbnb's marketplace had more than 9 million active listings and 5.5 million hosts as of May 2026. Its scale, reviews, payments, host tools, and brand help connect supply and demand, while Booking Holdings, Expedia Group, and hotel companies remain significant competitors.
Volkswagen
How it makes money
Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus).
Growth strategy
Volkswagen's growth strategy centers on cost reduction, platform simplification, brand accountability, premium profitability, China-specific EV development, battery and software investment, hybrid and combustion optimization where demand remains strong, and selective partnerships such as Rivian and XPeng.
Competitive advantage
Volkswagen's advantage is industrial scale plus brand breadth. Few competitors can cover entry-level European cars, global volume SUVs, Audi premium vehicles, Porsche sports cars, Lamborghini supercars, Bentley luxury cars, Ducati motorcycles, Scania and MAN trucks, and a major financial services arm. The purchasing leverage and installed dealer base are hard to replicate.
Questions about Airbnb vs Volkswagen
Which company has higher revenue — Airbnb, Inc. or Volkswagen Aktiengesellschaft?
Airbnb, Inc. reported $12.2B (FY2025), while Volkswagen Aktiengesellschaft reported ~$363.8B (FY2025). By last reported revenue, Volkswagen Aktiengesellschaft is the larger business, with Airbnb, Inc. reporting a smaller revenue base.
What is the market cap of Airbnb, Inc. vs Volkswagen Aktiengesellschaft?
Airbnb, Inc.'s market capitalisation stands at $94.9B, while Volkswagen Aktiengesellschaft's is $35.5B. Airbnb, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Volkswagen Aktiengesellschaft.
Which is more financially efficient — Airbnb, Inc. or Volkswagen Aktiengesellschaft?
Airbnb, Inc. generates $1.49M / employee in revenue per employee, while Volkswagen Aktiengesellschaft generates $549k / employee. Airbnb, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Airbnb, Inc. and Volkswagen Aktiengesellschaft make money?
Airbnb, Inc. and Volkswagen Aktiengesellschaft generate revenue in fundamentally different ways. Airbnb, Inc.: Airbnb provides a marketplace on which hosts offer stays, experiences, and services and guests make reservations. Volkswagen Aktiengesellschaft: Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus).
Which company is valued higher relative to revenue — Airbnb, Inc. or Volkswagen Aktiengesellschaft?
On a price-to-sales (P/S) basis, Airbnb, Inc. trades at 7.8x P/S and Volkswagen Aktiengesellschaft at 0.1x P/S. Airbnb, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Volkswagen Aktiengesellschaft. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Airbnb, Inc. bigger than Volkswagen Aktiengesellschaft?
By last reported revenue, Volkswagen Aktiengesellschaft (~$363.8B (FY2025)) is the larger company compared to Airbnb, Inc. ($12.2B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Airbnb vs Volkswagen overview