Hitachi vs Kia: Revenue, Profit and Business Model
Hitachi reported ~$70.9B of revenue in FY2026 and ~$5.4B of net income. Kia reported ~$81B of revenue in FY2025 and ~$5.4B of net income.
Latest financial snapshot
Financial summary
Hitachi
Hitachi posted a ~$5.27 billion (¥787.3 billion) net loss for fiscal 2008, then the largest ever by a Japanese manufacturer. Under Takashi Kawamura and Hiroaki Nakanishi it cut loss-making consumer businesses, and later leaders sold listed subsidiaries such as Hitachi Chemical (2020), Hitachi Metals (2023), and a controlling stake in Hitachi Construction Machinery (2022). Revenue dipped from ~$72.9 billion (¥10.88 trillion) in FY2022 to ~$65.2 billion (¥9.73 trillion) in FY2023 as those units left, then climbed back to ~$71 billion (¥10.59 trillion) in FY2025 on organic growth. FY2025 adjusted EBITA was a record ~$8.78 billion (¥1.31 trillion) (12.4% margin) and net income was ~$5.38 billion (¥802.3 billion), up about 30%. In Q1 FY2026 (April-June 2026) revenue rose 20% to ~$18.2 billion (¥2,709.6 billion), helped by currency, and management raised full-year guidance.
Kia
Kia's revenue has risen every year since 2020: from ~$49.6 billion (KRW 69.9 trillion) in 2021 to ~$76.3 billion (KRW 107.4 trillion) in 2024 and a record ~$81 billion (KRW 114.1 trillion) in 2025 (+6.2%). Profit has not kept up. Operating profit fell 28.3% in 2025 to ~$6.45 billion (KRW 9.08 trillion), and the margin dropped from 11.8% to 8.0% as US tariffs and incentives ate into earnings. Net profit was about $5.36 billion (KRW 7.55 trillion). The squeeze continued into 2026. Q1 revenue was a record ~$20.9 billion (KRW 29.50 trillion) (+5.3%), but operating profit fell 26.7% to ~$1.57 billion (KRW 2.21 trillion). Q2 revenue reached ~$23.5 billion (KRW 33.04 trillion) (+12.6%) while operating profit fell 4.9% to ~$1.87 billion (KRW 2.63 trillion). The shares dropped about 13% on the day of the Q2 results. Shareholder returns are still high: the 2025 dividend was KRW 6,800 per share, a 35% consolidated payout ratio, and Kia has been cancelling treasury shares, cutting issued shares from 405.4 million in 2022 to 390.4 million at the end of 2025.
Revenue and profit by year
Where the revenue comes from
Hitachi
- Digital Systems & Services
Reported sector
Japanese IT systems for finance and government, GlobalLogic digital engineering, cloud and managed services, and Lumada solutions.
- Energy
Reported sector
Hitachi Energy grid infrastructure, HVDC, transformers, and related service contracts.
- Mobility
Reported sector
Hitachi Rail trains, signalling and train control (including former Thales GTS), and maintenance.
- Connective Industries
Reported sector
Building systems, industrial products and systems, Hitachi High-Tech, and, until its sale, home appliances.
Kia
- Global Vehicle Sales
primary revenue source
Kia generates most revenue from selling SUVs, passenger cars, hybrids, EVs, and commercial vehicles through regional subsidiaries, importers, dealers, and fleet channels.
- Parts, Service, and Accessories
recurring support revenue
Genuine parts, aftersales service, accessories, and warranty-related activity provide higher-repeat revenue tied to Kia's installed vehicle base.
- Future Mobility and PBVs
emerging growth area
Dedicated EVs, software-defined vehicles, purpose-built vehicles, and connected services support Kia's longer-term mobility strategy.
Business model and strategy
Hitachi
How it makes money
Hitachi is a B2B infrastructure and IT company. It sells long-lived physical assets (transformers, HVDC converter stations, trains, signalling, elevators, semiconductor metrology tools) and then earns recurring service, maintenance, and software revenue on that installed base. Lumada is the umbrella for the data, AI, and digital services layered on top, and Hitachi reports Lumada as a growing share of total revenue.
Growth strategy
Hitachi grows by attaching software and services to its installed base and by reshaping its portfolio. It is expanding Hitachi Energy factory capacity for transformers and HVDC, integrating Thales GTS into Hitachi Rail, and scaling Lumada through GlobalLogic and AI partnerships.
Competitive advantage
Hitachi's edge is owning both the operational technology and the IT. Hitachi Energy (built on ABB's former Power Grids business) is one of a handful of suppliers able to deliver HVDC links and large power transformers at scale, Hitachi Rail became a top-tier signalling supplier after buying Thales GTS in 2024, and GlobalLogic plus Hitachi's Japanese IT business supply the software.
Kia
How it makes money
Kia makes money mainly by building and selling vehicles wholesale to its regional sales subsidiaries, importers and franchised dealers, which then sell to retail and fleet buyers. SUVs and RVs such as the Sportage, Sorento, Seltos, Carnival and Telluride make up most of the mix and earn more per unit than small sedans.
Growth strategy
Kia's current strategy, set out at the 2026 CEO Investor Day, uses several powertrains instead of only EVs. It plans to grow EVs (EV3, EV4, EV5, EV6, EV9 and later models) and hybrids together, add a PBV line of modular electric vans starting with the PV5, and build up software-defined vehicles, autonomous driving and robotics as longer-term businesses.
Competitive advantage
Kia's main advantages are its scale inside Hyundai Motor Group and the way it can switch powertrains easily. Sharing platforms, the E-GMP 800V EV architecture, batteries, chips and logistics (Hyundai Glovis) with Hyundai lowers development and purchasing costs. Factories in Korea, the US (Georgia), Mexico, Slovakia and India let Kia shift production between combustion, hybrid and electric models.
Questions about Hitachi vs Kia
Which company has higher revenue — Hitachi, Ltd. or Kia Corporation?
Hitachi, Ltd. reported ~$70.9B (FY2026), while Kia Corporation reported ~$81B (FY2025). By last reported revenue, Kia Corporation is the larger business, with Hitachi, Ltd. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Hitachi, Ltd. vs Kia Corporation?
Hitachi, Ltd.'s market capitalisation stands at $157.8B, while Kia Corporation's is $32.4B. Hitachi, Ltd. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Kia Corporation.
Which is more financially efficient — Hitachi, Ltd. or Kia Corporation?
Hitachi, Ltd. generates $246k / employee in revenue per employee, while Kia Corporation generates $1.52M / employee. Kia Corporation 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 Hitachi, Ltd. and Kia Corporation make money?
Hitachi, Ltd. and Kia Corporation generate revenue in fundamentally different ways. Hitachi, Ltd.: Hitachi is a B2B infrastructure and IT company. Kia Corporation: Kia makes money mainly by building and selling vehicles wholesale to its regional sales subsidiaries, importers and franchised dealers, which then sell to retail and fleet buyers.
Which company is valued higher relative to revenue — Hitachi, Ltd. or Kia Corporation?
On a price-to-sales (P/S) basis, Hitachi, Ltd. trades at 2.2x P/S and Kia Corporation at 0.4x P/S. Hitachi, Ltd. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Kia Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Hitachi, Ltd. bigger than Kia Corporation?
By last reported revenue, Kia Corporation (~$81B (FY2025)) is the larger company compared to Hitachi, Ltd. (~$70.9B (FY2026)). 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 Hitachi vs Kia overview