BMW vs Google: Revenue, Profit and Business Model
BMW reported ~$150.8B of revenue in FY2025 and ~$8.2B of net income. Google reported $402.8B of revenue in FY2025 and $132.2B of net income.
Latest financial snapshot
Financial summary
BMW
BMW's financial story has turned from peak to reset in three years. Revenue reached ~$176 billion (EUR155.5 billion) in 2023 with a 9.8% automotive EBIT margin, then fell to ~$161 billion (EUR142.4 billion) in 2024 and ~$151 billion (EUR133.5 billion) in 2025 as China pricing, tariffs and currency weighed. Group profit before tax still stayed above ~$11.3 billion (EUR10 billion) in 2025 (~$11.6 billion (EUR10.236 billion), 7.7% margin), helped by ~$2.82 billion (EUR2.5 billion) of cost cuts and a stable Financial Services business. 2026 is weaker: H1 revenue fell 8.0% to ~$70.4 billion (EUR62.3 billion), Group EBT dropped 29.4% to ~$4.52 billion (EUR4.0 billion), and BMW now guides to a 1-3% automotive EBIT margin and automotive free cash flow above ~$2.82 billion (EUR2.5 billion). Shareholder returns continue through a EUR4.40 dividend for 2025 and a ~$2.26 billion (EUR2 billion) buyback due to finish by November 2026.
Alphabet's FY2025 Form 10-K reported $402.836 billion of revenue and $132.170 billion of net income, making it one of the most profitable companies in the world. Growth accelerated in 2026: Q2 2026 revenue rose 24% year over year to $119.8 billion, operating income rose 30% to $40.8 billion and operating margin reached 34.0%. Reported Q2 net income of $112.1 billion was inflated by a $99.0 billion gain, mostly unrealized gains on equity holdings, so operating income is the cleaner measure. The trade-off is spending: management raised 2026 capital expenditure guidance to $195-205 billion, and analysts flagged negative free cash flow in Q2 2026 as data-center investment outpaced operating cash flow.
Revenue and profit by year
BMW
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$150.8B | ~$8.2B | 5.5% | -6.3% | Source |
| FY2024 | ~$160.9B | ~$8.2B | 5.1% | -8.4% | Source |
| FY2023 | ~$175.7B | ~$12.8B | 7.3% | +9.0% | Source |
| FY2022 | ~$161.1B | ~$20.3B | 12.6% | +28.2% | Source |
| FY2021 | ~$125.7B | ~$14B | 11.1% | — | Source |
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $402.8B | $132.2B | 32.8% | +15.1% | Source |
| FY2024 | $350B | $100.1B | 28.6% | +13.9% | Source |
| FY2023 | $307.4B | $73.8B | 24.0% | +8.7% | Source |
| FY2022 | $282.8B | $60B | 21.2% | +9.8% | Source |
| FY2021 | $257.6B | $76B | 29.5% | +41.2% | Source |
| FY2020 | $182.5B | $40.3B | 22.1% | +12.8% | Source |
| FY2019 | $161.9B | $34.3B | 21.2% | +18.3% | Source |
| FY2018 | $136.8B | $30.7B | 22.5% | +23.4% | Source |
| FY2017 | $110.9B | $12.7B | 11.4% | +22.8% | Source |
| FY2016 | $90.3B | $19.5B | 21.6% | — | Source |
Where the revenue comes from
BMW
- Automotive
~$133B (EUR117.6B) segment revenue (2025)
Sales of BMW, MINI and Rolls-Royce cars, parts and services; the segment's EBIT margin was 5.3% in 2025.
- Financial Services
~$45B (EUR39.8B) segment revenue (2025)
Leasing, retail loans, dealer financing and insurance; new business volume was ~$74.4B (EUR65.8B) in 2025.
- Motorcycles
~$3.5B (EUR3.1B) segment revenue (2025)
BMW Motorrad bikes, parts and gear; segment EBIT margin was 5.7% in 2025.
- Google Search advertising~12%
Auction-based text and shopping ads served alongside organic search results, generating approximately $198 billion in FY2024 through cost-per-click and cost-per-impression pricing.
- YouTube advertising~12%
Video advertising across pre-roll, mid-roll, display, and Shorts formats, plus subscription revenue from YouTube Premium, Music, and YouTube TV, totaling approximately $36 billion in ad revenue for FY2024.
- Google Cloud~12%
Infrastructure-as-a-service, platform tools, Vertex AI, BigQuery, Mandiant cybersecurity, and Google Workspace subscriptions, generating significant FY2025 revenue.
- Google Network~12%
Ads placed on third-party websites through AdSense, AdMob, and Google Ad Manager, generating approximately $31 billion in FY2024 with revenue shared with publishers.
- Other Bets~12%
Revenue from Waymo autonomous ride-hailing, Verily health technology, hardware sales (Pixel, Nest, Fitbit), Google Play commissions, and other non-advertising sources.
Business model and strategy
BMW
How it makes money
BMW makes money by designing, building and selling premium cars at prices that carry a brand premium, then earning a second layer of profit from financing them. In 2025 the Automotive segment (BMW, MINI, Rolls-Royce) generated ~$133 billion (EUR117.6 billion) of revenue, Financial Services ~$45 billion (EUR39.8 billion) and Motorcycles ~$3.5 billion (EUR3.1 billion) before intra-group eliminations.
Growth strategy
Under CEO Milan Nedeljković, BMW's growth plan is narrower and more regional. The group will cut variants (the 2 Series Active Tourer gets no successor), add top-end models such as the first BMW ALPINA car in 2027 and a US-focused SAV above the X7, and launch a compact Neue Klasse EV for Europe in 2028.
Competitive advantage
BMW's advantage rests on brand depth, engineering credibility and a flexible production network. Customers still pay for BMW driving dynamics, M performance models and Rolls-Royce craftsmanship, which supports pricing even when volumes are flat.
How it makes money
Alphabet makes money mainly by selling ads against user intent and attention. Google Search & other, YouTube ads and the Google Network together account for roughly three quarters of revenue. Advertisers bid in real-time auctions to appear next to queries or videos, and Google charges per click, view or conversion.
Growth strategy
Alphabet's growth plan has four parts: put Gemini into Search (AI Overviews and AI Mode), Workspace, Android and Chrome to keep users and advertisers engaged; sell AI infrastructure, TPUs and Gemini models through Google Cloud, backed by the Wiz security platform acquired in March 2026; grow subscriptions such as YouTube Premium, YouTube TV and Google One AI plans;
Competitive advantage
Alphabet's edge is a stack few rivals own end to end: default distribution through Android and Chrome, the largest pool of search-intent data, YouTube's video audience, its own TPU chips and global data centers, and frontier models from Google DeepMind.
Questions about BMW vs Google
Which company has higher revenue — Bayerische Motoren Werke AG or Alphabet Inc.?
Bayerische Motoren Werke AG reported ~$150.8B (FY2025), while Alphabet Inc. reported $402.8B (FY2025). By last reported revenue, Alphabet Inc. is the larger business, with Bayerische Motoren Werke AG reporting a smaller revenue base.
What is the market cap of Bayerische Motoren Werke AG vs Alphabet Inc.?
Bayerische Motoren Werke AG's market capitalisation stands at $39.8B, while Alphabet Inc.'s is $4.31T. Alphabet Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Bayerische Motoren Werke AG.
Which is more financially efficient — Bayerische Motoren Werke AG or Alphabet Inc.?
Bayerische Motoren Werke AG generates $976k / employee in revenue per employee, while Alphabet Inc. generates $2.11M / employee. Alphabet 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 Bayerische Motoren Werke AG and Alphabet Inc. make money?
Bayerische Motoren Werke AG and Alphabet Inc. generate revenue in fundamentally different ways. Bayerische Motoren Werke AG: BMW makes money by designing, building and selling premium cars at prices that carry a brand premium, then earning a second layer of profit from financing them. Alphabet Inc.: Alphabet makes money mainly by selling ads against user intent and attention.
Which company is valued higher relative to revenue — Bayerische Motoren Werke AG or Alphabet Inc.?
On a price-to-sales (P/S) basis, Bayerische Motoren Werke AG trades at 0.3x P/S and Alphabet Inc. at 10.7x P/S. Alphabet Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Bayerische Motoren Werke AG. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Bayerische Motoren Werke AG bigger than Alphabet Inc.?
By last reported revenue, Alphabet Inc. ($402.8B (FY2025)) is the larger company compared to Bayerische Motoren Werke AG (~$150.8B (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 BMW vs Google overview