BYD vs Datadog: Revenue, Profit and Business Model
BYD reported ~$111.8B of revenue in FY2025 and ~$4.5B of net income. Datadog reported $3.4B of revenue in FY2025 and $107.7M of net income.
Latest financial snapshot
Financial summary
BYD
BYD's revenue grew more than fivefold in five years, from ~$21.8 billion (CN¥156.6 billion) in 2020 to ~$112 billion (CN¥803.96 billion) in 2025, as its new energy vehicle sales rose to 4.6 million units. Profit peaked in 2024 at about $5.59 billion (CN¥40.2 billion) and fell 19% in 2025 to ~$4.53 billion (CN¥32.62 billion) attributable to shareholders, BYD's first annual decline in four years, which the company linked to product mix changes and a lower gross margin. Gross margin slipped from 19.1% in 2024 to 17.5% in 2025. The first half of 2026 brought revenue of ~$47.9 billion (CN¥344.8 billion) (down 7.1%) and net profit of ~$1.71 billion (CN¥12.3 billion) (down 20.5%), although second-quarter profit rose year on year for the first time in five quarters on record exports. Overseas revenue of ~$25.2 billion (CN¥181.3 billion) overtook revenue from China for the first time.
Datadog
Datadog grew revenue from $1.03 billion in 2021 to $3.43 billion in 2025. In 2025 it generated $1.05 billion of operating cash flow and $915 million of free cash flow, while GAAP net income was a much smaller $107.7 million because of heavy stock-based compensation and R&D spending. Growth accelerated in 2026: Q1 revenue was $1.006 billion (+32%) with $52.6 million of GAAP net income, and Q2 revenue was $1.12 billion (+36%) with $279 million of free cash flow. After Q2, management guided to full-year 2026 revenue of about $4.45-4.47 billion, roughly 30% growth. GAAP operating income stays near break-even, while non-GAAP operating margin runs in the low 20s.
Revenue and profit by year
BYD
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$111.8B | ~$4.5B | 4.0% | +3.5% | Source |
| FY2024 | ~$108B | ~$5.6B | 5.2% | +29.0% | Source |
| FY2023 | ~$83.7B | ~$4.2B | 5.0% | +42.0% | Source |
| FY2022 | ~$58.9B | ~$2.3B | 3.9% | +96.2% | Source |
| FY2021 | ~$30B | ~$420.6M | 1.4% | +38.0% | Source |
| FY2020 | ~$21.8B | ~$588M | 2.7% | +22.6% | Source |
| FY2019 | ~$17.8B | ~$223.8M | 1.3% | -1.8% | Source |
| FY2018 | ~$18.1B | ~$386.4M | 2.1% | — | Source |
Datadog
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $3.4B | $107.7M | 3.1% | +27.7% | Source |
| FY2024 | $2.7B | $183.7M | 6.8% | +26.1% | Source |
| FY2023 | $2.1B | $48.6M | 2.3% | +27.1% | Source |
| FY2022 | $1.7B | -$50.2M | -3.0% | +62.8% | Source |
| FY2021 | $1B | -$20.9M | -2.0% | +70.5% | Source |
| FY2020 | $603.5M | -$24.5M | -4.1% | +66.3% | Source |
| FY2019 | $362.8M | -$16.7M | -4.6% | +83.2% | Source |
| FY2018 | $198.1M | -$10.8M | -5.4% | +96.6% | Source |
| FY2017 | $100.8M | -$2.6M | -2.6% | — | Source |
Where the revenue comes from
BYD
- Automobiles and related products~81%
Sales of BYD, Denza, Fangchengbao and Yangwang passenger cars, buses and trucks, plus related products such as batteries and energy storage. The segment produced ~$90.2 billion (CN¥648.6 billion) in FY2025 and ~$38.3 billion (CN¥275.3 billion) (79.9% of revenue) in the first half of 2026.
- Mobile handset components and assembly~19%
Contract manufacturing and assembly of phones, tablets, smart car components and other devices, mainly through BYD Electronic. The segment produced ~$21.6 billion (CN¥155.2 billion) in FY2025, and electronics revenue rose 1.0% to ~$9.65 billion (CN¥69.4 billion) in the first half of 2026.
Datadog
- Subscription RevenuePrimary
Recurring contracts priced around usage, monitored hosts, telemetry ingestion, events, seats, and purchased modules.
- Professional Services and OtherSmall
Implementation, training, and related services are minor compared with subscription revenue.
Business model and strategy
BYD
How it makes money
BYD earns most of its revenue by designing, building and selling passenger cars under the BYD (Dynasty and Ocean series), Denza, Fangchengbao and Yangwang brands, along with buses, trucks, batteries and energy storage systems. Its automobiles and related products segment produced ~$90.2 billion (CN¥648.6 billion) in FY2025, about 81% of group revenue.
Growth strategy
BYD's growth plan has three parts. First, build locally abroad: plants in Thailand, Uzbekistan and Camaçari, Brazil are producing cars, Hungary is due to start series production in the fourth quarter of 2026, and a Turkish plant was paused in June 2026 while BYD concentrates on Europe. Second, move upmarket through Denza, Fangchengbao and Yangwang, which sell at higher prices than core BYD models.
Competitive advantage
BYD's advantage is cost control from owning its supply chain. It makes its own LFP Blade battery cells, motors, electronic controls and power chips, so it can sell a Seagull hatchback from around CN¥70,000 in China and still run a profitable car business, and it can put new technology such as the second-generation Blade Battery and FLASH charging into many models at once.
Datadog
How it makes money
Datadog runs a B2B subscription model. Customers pay based on usage and the products they turn on: monitored hosts and containers, ingested and indexed log volume, traced requests, user sessions, security workloads, and similar units. Contracts are sold self-serve, through a direct sales team, and through cloud marketplaces such as AWS Marketplace. Revenue grows in two ways.
Growth strategy
Datadog's growth plan has three parts. First, sell more products to existing customers across observability, security, and developer workflows. Second, win larger enterprise and AI-native customers that run very large workloads.
Competitive advantage
Datadog's main edge is breadth on one shared data platform. Metrics, traces, logs, user sessions, security signals and cost data are stored and correlated together, so a slow page can be traced from the browser session to the service, the host and the log line without switching tools.
Questions about BYD vs Datadog
Which company has higher revenue — BYD Company Ltd or Datadog, Inc.?
BYD Company Ltd reported ~$111.8B (FY2025), while Datadog, Inc. reported $3.4B (FY2025). By last reported revenue, BYD Company Ltd is the larger business, with Datadog, Inc. reporting a smaller revenue base.
What is the market cap of BYD Company Ltd vs Datadog, Inc.?
BYD Company Ltd's market capitalisation stands at $113.4B, while Datadog, Inc.'s is $96.3B. BYD Company Ltd carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Datadog, Inc..
Which is more financially efficient — BYD Company Ltd or Datadog, Inc.?
BYD Company Ltd generates $123k / employee in revenue per employee, while Datadog, Inc. generates $423k / employee. Datadog, 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 BYD Company Ltd and Datadog, Inc. make money?
BYD Company Ltd and Datadog, Inc. generate revenue in fundamentally different ways. BYD Company Ltd: BYD earns most of its revenue by designing, building and selling passenger cars under the BYD (Dynasty and Ocean series), Denza, Fangchengbao and Yangwang brands, along with buses, trucks, batteries and energy storage systems. Datadog, Inc.: Datadog runs a B2B subscription model.
Which company is valued higher relative to revenue — BYD Company Ltd or Datadog, Inc.?
On a price-to-sales (P/S) basis, BYD Company Ltd trades at 1.0x P/S and Datadog, Inc. at 28.1x P/S. Datadog, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to BYD Company Ltd. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is BYD Company Ltd bigger than Datadog, Inc.?
By last reported revenue, BYD Company Ltd (~$111.8B (FY2025)) is the larger company compared to Datadog, Inc. ($3.4B (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 BYD vs Datadog overview