Hitachi vs Samsung: Revenue, Profit and Business Model
Hitachi reported ~$70.9B of revenue in FY2026 and ~$5.4B of net income. Samsung reported ~$236.9B of revenue in FY2025 and ~$31.4B 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.
Samsung
Samsung's earnings follow the memory cycle. Revenue fell from ~$215 billion (KRW 302.2 trillion) in 2022 to ~$184 billion (KRW 258.9 trillion) in 2023 during a chip downturn, then recovered to ~$214 billion (KRW 300.9 trillion) in 2024 and ~$237 billion (KRW 333.6 trillion) in 2025, when net income reached about $31.5 billion (KRW 44.3 trillion). In 2026, AI server demand created a memory shortage. Q1 operating profit of ~$40.6 billion (KRW 57.2 trillion) exceeded the full-year 2025 total, and Q2 reached ~$63.5 billion (KRW 89.5 trillion) on ~$122 billion (KRW 171.5 trillion) revenue. Higher memory costs also squeezed Samsung's own devices: the MX and Networks unit lost ~$497 million (KRW 0.7 trillion) in Q2 2026 on ~$23.6 billion (KRW 33.2 trillion) revenue.
Revenue and profit by year
Hitachi
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$70.9B | ~$5.4B | 7.6% | +8.2% | Source |
| FY2025 | ~$65.5B | ~$4.1B | 6.3% | +0.6% | Source |
| FY2024 | ~$65.2B | ~$4B | 6.1% | -10.6% | Source |
| FY2023 | ~$72.9B | ~$4.3B | 6.0% | +6.0% | Source |
| FY2022 | ~$68.8B | ~$3.9B | 5.7% | — | Source |
Samsung
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$236.9B | ~$31.4B | 13.3% | +10.9% | Source |
| FY2024 | ~$213.6B | ~$23.9B | 11.2% | +16.2% | Source |
| FY2023 | ~$183.8B | ~$10.3B | 5.6% | -14.3% | Source |
| FY2022 | ~$214.6B | ~$38.9B | 18.1% | +8.1% | Source |
| FY2021 | ~$198.5B | ~$27.9B | 14.0% | — | Source |
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.
Samsung
- Memory semiconductors
- Foundry and system LSI
- Galaxy smartphones and mobile devices
- Display panels
- TVs and appliances
- Network equipment
- Harman automotive and audio
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.
Samsung
How it makes money
Samsung earns money from two groups of businesses. Device Solutions (DS) makes and sells memory (DRAM, HBM, NAND), System LSI chips such as Exynos processors and ISOCELL image sensors, and contract foundry manufacturing.
Growth strategy
Samsung's growth plan centers on AI memory: ramping HBM4 for Nvidia and AMD accelerators, developing HBM4E, and adding DRAM capacity at Pyeongtaek. In foundry it is pursuing 2nm gate-all-around production and building its Taylor, Texas fab to win customers from TSMC. On the device side it relies on Galaxy AI features, foldables and premium TVs to defend share against Apple and Chinese brands.
Competitive advantage
Samsung's edge is manufacturing scale and breadth. It is the largest memory producer and one of only three major DRAM makers, alongside SK hynix and Micron. That lets it capture pricing upswings like the 2026 AI-driven shortage.
Questions about Hitachi vs Samsung
Which company has higher revenue — Hitachi, Ltd. or Samsung Electronics Co., Ltd.?
Hitachi, Ltd. reported ~$70.9B (FY2026), while Samsung Electronics Co., Ltd. reported ~$236.9B (FY2025). By last reported revenue, Samsung Electronics Co., Ltd. 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 Samsung Electronics Co., Ltd.?
Hitachi, Ltd.'s market capitalisation stands at $157.8B, while Samsung Electronics Co., Ltd.'s is $1.33T. Samsung Electronics Co., Ltd. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Hitachi, Ltd..
Which is more financially efficient — Hitachi, Ltd. or Samsung Electronics Co., Ltd.?
Hitachi, Ltd. generates $246k / employee in revenue per employee, while Samsung Electronics Co., Ltd. generates $914k / employee. Samsung Electronics Co., Ltd. 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 Samsung Electronics Co., Ltd. make money?
Hitachi, Ltd. and Samsung Electronics Co., Ltd. generate revenue in fundamentally different ways. Hitachi, Ltd.: Hitachi is a B2B infrastructure and IT company. Samsung Electronics Co., Ltd.: Samsung earns money from two groups of businesses.
Which company is valued higher relative to revenue — Hitachi, Ltd. or Samsung Electronics Co., Ltd.?
On a price-to-sales (P/S) basis, Hitachi, Ltd. trades at 2.2x P/S and Samsung Electronics Co., Ltd. at 5.6x P/S. Samsung Electronics Co., Ltd. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Hitachi, Ltd.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Hitachi, Ltd. bigger than Samsung Electronics Co., Ltd.?
By last reported revenue, Samsung Electronics Co., Ltd. (~$236.9B (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 Samsung overview