BMW vs Unilever: Revenue, Profit and Business Model
BMW reported ~$150.8B of revenue in FY2025 and ~$8.2B of net income. Unilever reported ~$57.1B of revenue in FY2025 and ~$10.7B 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.
Unilever
Unilever's 2025 turnover from continuing operations was ~$57.1 billion (EUR 50.5 billion), down 3.8% in reported terms because of adverse currency moves and disposals, even as underlying sales grew 3.5% with 1.5% from volume. Free cash flow was ~$6.67 billion (EUR 5.9 billion), about $757 million (EUR 670 million) of productivity savings had been delivered by the end of 2025, and the company announced a new ~$1.69 billion (EUR 1.5 billion) share buyback. Momentum improved in 2026: first-half turnover was ~$28.9 billion (EUR 25.6 billion) (up 0.5%), underlying sales grew 4.8% with 4.2% volume, Q2 underlying growth reached 5.8%, and the underlying operating margin was 20.3%. Unilever raised its full-year outlook after the H1 2026 results.
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 |
Unilever
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$57.1B | ~$10.7B | 18.7% | -3.8% | Source |
| FY2024 | ~$59.3B | ~$6.5B | 10.9% | +1.5% | Source |
| FY2023 | ~$58.4B | ~$7.3B | 12.6% | -14.0% | Source |
| FY2022 | ~$67.9B | ~$8.6B | 12.7% | +14.5% | Source |
| FY2021 | ~$59.3B | ~$6.8B | 11.5% | +3.4% | Source |
| FY2020 | ~$57.3B | ~$6.3B | 11.0% | -2.4% | Source |
| FY2019 | ~$58.7B | ~$6.4B | 10.8% | +2.0% | Source |
| FY2018 | ~$57.6B | ~$10.6B | 18.4% | -5.1% | Source |
| FY2017 | ~$60.7B | ~$6.8B | 11.2% | +1.9% | Source |
| FY2016 | ~$59.6B | ~$5.9B | 9.8% | — | 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.
Unilever
- Power Brands
78% of 2025 turnover
Dove, Vaseline, Rexona, Sunsilk, OMO, Knorr and the other Power Brands made up 78% of turnover in 2025.
- Beauty & Wellbeing
Not formally reported
One of four business groups reported after the 2025 Ice Cream demerger; it includes prestige beauty and wellbeing supplements.
- Personal Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Home Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Foods
Not formally reported
Largely to be combined with McCormick in a pending transaction; it includes Unilever Food Solutions for foodservice.
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.
Unilever
How it makes money
Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce. After the 2025 Ice Cream demerger it reports four business groups: Beauty & Wellbeing, Personal Care, Home Care and Foods. Its Power Brands, such as Dove, Vaseline, Rexona, Sunsilk, OMO and Knorr, made up 78% of turnover in 2025.
Growth strategy
Under Fernando Fernandez, Unilever is concentrating investment behind about 30 Power Brands, increasing marketing spend through social and influencer channels, rotating the portfolio toward premium beauty and wellbeing (2025 deals included Dr. Squatch, Wild and Minimalist), and separating lower-growth food and ice cream assets.
Competitive advantage
Unilever's advantage is a mix of trusted brands, emerging-market distribution, local manufacturing, repeat-purchase categories, Power Brand marketing scale, and deep category knowledge in personal care, home care, beauty, and foods.
Questions about BMW vs Unilever
Which company has higher revenue — Bayerische Motoren Werke AG or Unilever PLC?
Bayerische Motoren Werke AG reported ~$150.8B (FY2025), while Unilever PLC reported ~$57.1B (FY2025). By last reported revenue, Bayerische Motoren Werke AG is the larger business, with Unilever PLC reporting a smaller revenue base.
What is the market cap of Bayerische Motoren Werke AG vs Unilever PLC?
Bayerische Motoren Werke AG's market capitalisation stands at $39.8B, while Unilever PLC's is $132.5B. Unilever PLC 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 Unilever PLC?
Bayerische Motoren Werke AG generates $976k / employee in revenue per employee, while Unilever PLC generates $594k / employee. Bayerische Motoren Werke 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 Bayerische Motoren Werke AG and Unilever PLC make money?
Bayerische Motoren Werke AG and Unilever PLC 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. Unilever PLC: Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce.
Which company is valued higher relative to revenue — Bayerische Motoren Werke AG or Unilever PLC?
On a price-to-sales (P/S) basis, Bayerische Motoren Werke AG trades at 0.3x P/S and Unilever PLC at 2.3x P/S. Unilever PLC 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 Unilever PLC?
By last reported revenue, Bayerische Motoren Werke AG (~$150.8B (FY2025)) is the larger company compared to Unilever PLC (~$57.1B (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 Unilever overview