Audi vs Porsche: Revenue, Profit and Business Model
Audi reported ~$74B of revenue in FY2025 and ~$5.2B of net income. Porsche reported ~$41B of revenue in FY2025 and ~$350.3M of net income.
Latest financial snapshot
Financial summary
Audi
Audi Group revenue was ~$74 billion (65,503 million euros) in 2025, up from 64,532 million in 2024, helped by a higher share of fully electric models and intragroup sales of Cupra vehicles built at the Audi plant in Gyor. Profitability moved the other way: operating profit fell to ~$3.81 billion (3,371 million euros) and the operating margin to 5.1 percent from 6.0 percent, against a 14 percent long-term target for the Brand Group Progressive. United States tariffs cost ~$1.36 billion (1.2 billion euros), with further charges for CO2 compliance provisions, the German agreement for the future, and the rescheduling of a shared group electric platform. Below the operating line the picture is stronger: the financial result rose to ~$2.49 billion (2,203 million euros), including 504 million from the China business, and profit after tax increased to ~$5.22 billion (4,617 million euros) from 4,189 million. Net cash flow rose 11.4 percent to ~$3.87 billion (3,422 million euros). Lamborghini remains the most profitable brand in the group, with ~$3.61 billion (3,197 million euros) of revenue and a 24.0 percent operating margin.
Porsche
Porsche's financials swung from a record 2023 (~$45.8 billion (EUR40.53 billion) revenue, ~$5.83 billion (EUR5.16 billion) profit after tax) to a sharp reset. In 2025 revenue fell 9.5% to ~$41 billion (EUR36.27 billion), operating profit dropped to ~$467 million (EUR413 million) (1.1% return on sales) and profit after tax was ~$350 million (EUR310 million), hit by costs of reworking the product plan, U.S. tariffs and weak China demand. In the first half of 2026 revenue was ~$19.5 billion (EUR17.23 billion) (prior year ~$20.5 billion (EUR18.16 billion)), operating profit rose 34% to ~$1.53 billion (EUR1.35 billion) and return on sales improved to 7.8%, helped by lower one-off charges.
Revenue and profit by year
Audi
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$74B | ~$5.2B | 7.0% | +1.5% | Source |
| FY2024 | ~$72.9B | ~$4.7B | 6.5% | -7.6% | Source |
| FY2023 | ~$78.9B | ~$7.1B | 9.0% | +13.1% | Source |
| FY2022 | ~$69.8B | ~$8B | 11.5% | +16.4% | Source |
| FY2021 | ~$60B | — | 0.0% | +6.2% | Source |
| FY2020 | ~$56.5B | — | 0.0% | -10.2% | Source |
| FY2019 | ~$62.9B | — | 0.0% | -6.0% | Source |
| FY2018 | ~$67B | — | 0.0% | — | Source |
Porsche
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$41B | ~$350.3M | 0.9% | -9.5% | Source |
| FY2024 | ~$45.3B | ~$4.1B | 9.0% | -1.1% | Source |
| FY2023 | ~$45.8B | ~$5.8B | 12.7% | +7.7% | Source |
| FY2022 | ~$42.5B | ~$5.6B | 13.2% | +13.6% | Source |
| FY2021 | ~$37.4B | ~$4.6B | 12.2% | — | Source |
Where the revenue comes from
Audi
- Audi brand vehicles and aftersales~90%
Audi-badged cars and the parts, service and accessories that follow them account for about $66.4 billion (58.8 billion euros) of the group's ~$74 billion (65,503 million euros) of 2025 revenue, once the separately reported Lamborghini, Bentley and Ducati figures are deducted. Volume fell 2.9 percent to 1,623,551 cars, but mix improved: fully electric models reached a record 223,032 units, up 36 percent, and the group also books intragroup sales of Cupra vehicles built under contract at the Audi plant in Gyor. Audi does not publish a model-level revenue split; the disclosed volume drivers for 2025 were the Q6 e-tron at roughly 84,000 units and the A6 e-tron at roughly 37,000.
- Automobili Lamborghini~5%
Lamborghini contributed ~$3.61 billion (3,197 million euros) of revenue in 2025, up from 3,095 million in 2024, on 10,747 deliveries. It is the most profitable brand in the group, with ~$868 million (768 million euros) of operating profit and a 24.0 percent operating margin, down from 27.0 percent the year before. Its earnings flow directly into Audi Group results and offset the thinner margin on volume cars.
- Bentley Motors~4%
Bentley added ~$2.95 billion (2,615 million euros) of revenue in 2025 on 10,131 deliveries, slightly below 2024 on both counts. Operating profit fell to ~$244 million (216 million euros), an 8.3 percent margin against 14.1 percent in 2024, which Audi attributed to challenging market conditions in the luxury segment.
- Ducati~1%
Ducati contributed ~$1.05 billion (925 million euros) of revenue in 2025 on 50,895 motorcycles, down from ~$1.13 billion (1,003 million euros) and 54,495 units in 2024. Operating profit fell to ~$58.8 million (52 million euros), a 5.6 percent margin against 9.1 percent a year earlier.
Porsche
- Vehicle sales
Sales of 911, Cayenne, Macan, Panamera, Taycan, and 718 vehicles.
- Personalization and options
High-margin customization, trims, performance packages, and limited editions.
- Financial services
Financing and leasing for Porsche customers.
- Parts, service, and brand
After-sales, accessories, motorsport-linked products, and brand experiences.
Business model and strategy
Audi
How it makes money
Audi designs, builds and sells premium cars, and heads the Volkswagen Group's Brand Group Progressive, which also contains Bentley, Lamborghini and Ducati. Its economics rest on shared group architectures: MLB Evo for longitudinal-engine models, MEB for entry electric cars, and the 800-volt Premium Platform Electric co-developed with Porsche.
Growth strategy
Audi's growth plan has three legs. First, a compressed model offensive: more than 20 new models arrived across 2024 and 2025, and the 2026 additions are led by the Q9, the A2 e-tron, the third-generation Q7, the reworked Q4 e-tron and the RS 5. Second, electrification on the 800-volt Premium Platform Electric built with Porsche, which underpins the Q6 e-tron and A6 e-tron;
Competitive advantage
Audi's main structural advantage is that it does not carry premium-car development costs alone. It shares platforms, electronics and powertrains with Porsche and Volkswagen, which is how a brand selling about 1.6 million cars a year can fund an 800-volt electric architecture.
Porsche
How it makes money
Porsche earns most of its money selling premium vehicles at high average prices. SUVs (Cayenne and Macan) supply most of the volume, the 911 anchors the brand and its pricing power, and the Panamera, Taycan and 718 fill out the range. Margin comes from mix and options: personalization through Porsche Exclusive Manufaktur and Sonderwunsch adds high-margin revenue per car.
Growth strategy
After 2025, Porsche moved from an EV-first plan to a flexible powertrain mix. It is extending combustion and hybrid versions of existing lines, adding the T-Hybrid 911, keeping the electric Taycan, Macan and the new Cayenne Electric, and planning a combustion Macan for 2028 after electric Macan sales fell in the first half of 2026.
Competitive advantage
Porsche's edge is a 60-year 911 lineage that few rivals can copy, a reputation for cars that are both track-capable and usable every day, and access to Volkswagen Group platforms and purchasing scale. The Cayenne shares architecture with the Audi Q7 and VW Touareg, and the electric Macan uses the PPE platform co-developed with Audi, which spreads development cost over far more vehicles than Porsche sells alone.
Questions about Audi vs Porsche
Which company has higher revenue — Audi AG or Dr. Ing. h.c. F. Porsche AG?
Audi AG reported ~$74B (FY2025), while Dr. Ing. h.c. F. Porsche AG reported ~$41B (FY2025). By last reported revenue, Audi AG is the larger business, with Dr. Ing. h.c. F. Porsche AG reporting a smaller revenue base.
What is the market cap of Audi AG vs Dr. Ing. h.c. F. Porsche AG?
Dr. Ing. h.c. F. Porsche AG has a market capitalisation of $41.4B. A public market cap figure for Audi AG was not available (it may be privately held).
Which is more financially efficient — Audi AG or Dr. Ing. h.c. F. Porsche AG?
Audi AG generates $841k / employee in revenue per employee, while Dr. Ing. h.c. F. Porsche AG generates $981k / employee. Dr. Ing. h.c. F. Porsche AG 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 Audi AG and Dr. Ing. h.c. F. Porsche AG make money?
Audi AG and Dr. Ing. h.c. F. Porsche AG generate revenue in fundamentally different ways. Audi AG: Audi designs, builds and sells premium cars, and heads the Volkswagen Group's Brand Group Progressive, which also contains Bentley, Lamborghini and Ducati. Dr. Ing. h.c. F. Porsche AG: Porsche earns most of its money selling premium vehicles at high average prices.
Is Audi AG bigger than Dr. Ing. h.c. F. Porsche AG?
By last reported revenue, Audi AG (~$74B (FY2025)) is the larger company compared to Dr. Ing. h.c. F. Porsche AG (~$41B (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 Audi vs Porsche overview