Hyundai vs Qualcomm: Revenue, Profit and Business Model
Hyundai reported ~$132.2B of revenue in FY2025 and ~$6.7B of net income. Qualcomm reported $44.3B of revenue in FY2025 and $5.5B of net income.
Latest financial snapshot
Financial summary
Hyundai
Hyundai's revenue has grown every year since 2020, from ~$83.5 billion (KRW 117.6 trillion) in 2021 to ~$132 billion (KRW 186.25 trillion) in 2025. Profit peaked in 2023 and 2024, when operating profit topped ~$9.94 billion (KRW 14 trillion) on a rich SUV mix and a weak won. In 2025 operating profit fell 19.5% to ~$8.14 billion (KRW 11.47 trillion) and net profit fell 21.7% to ~$7.36 billion (KRW 10.36 trillion), mostly because of U.S. tariffs. Q2 2026 revenue was a record ~$34.9 billion (KRW 49.22 trillion), up 1.9%, but operating profit dropped 20.8% to ~$2.02 billion (KRW 2.85 trillion), leaving H1 2026 operating profit at ~$3.81 billion (KRW 5.37 trillion) against ~$5.14 billion (KRW 7.24 trillion) a year earlier. The company paid a total 2025 dividend of KRW 10,000 per share, and its 2026 guidance calls for 1-2% revenue growth and a 6.3-7.3% operating margin, which its CFO said in July it may miss on volume.
Qualcomm
Qualcomm's revenue has swung with the smartphone cycle: $44.2B in FY2022, $35.8B in FY2023, $39.0B in FY2024 and a record $44.284B in FY2025. FY2025 operating income was $12.355B, but GAAP net income dropped to $5.541B because of a large non-cash income tax charge booked in the September 2025 quarter. FY2026 has been tougher on the top line. Q2 revenue was $10.599B, and Q3 revenue fell 4% year over year to $9.9B with GAAP EPS of $1.87 and non-GAAP EPS of $2.21, as higher memory costs squeezed handset demand. QTL revenue was $1.3B in Q3. Qualcomm returned $2.3B to shareholders that quarter and guided Q4 FY2026 revenue to $9.7B-$10.5B.
Revenue and profit by year
Hyundai
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$132.2B | ~$6.7B | 5.1% | +6.3% | Source |
| FY2024 | ~$124.4B | ~$8.9B | 7.1% | +7.7% | Source |
| FY2023 | ~$115.5B | ~$8.5B | 7.4% | +14.4% | Source |
| FY2022 | ~$100.9B | ~$5.2B | 5.2% | +20.9% | Source |
| FY2021 | ~$83.5B | ~$3.5B | 4.2% | — | Source |
Qualcomm
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $44.3B | $5.5B | 12.5% | +13.7% | Source |
| FY2024 | $39B | $10.1B | 26.0% | +8.8% | Source |
| FY2023 | $35.8B | $7.2B | 20.2% | -19.0% | Source |
| FY2022 | $44.2B | $12.9B | 29.3% | +31.7% | Source |
| FY2021 | $33.6B | $9B | 26.9% | +42.6% | Source |
| FY2020 | $23.5B | $5.2B | 22.1% | -3.1% | Source |
| FY2019 | $24.3B | $4.4B | 18.1% | +7.4% | Source |
| FY2018 | $22.6B | -$5B | -22.0% | +1.6% | Source |
| FY2017 | $22.3B | $2.4B | 11.0% | -5.5% | Source |
| FY2016 | $23.6B | $5.7B | 24.2% | — | Source |
Where the revenue comes from
Hyundai
- SUVs and Passenger Vehicles
Core revenue engine
Tucson, Santa Fe, Palisade, Sonata, Elantra, and other global models generate volume, dealer traffic, and cash flow across major regions.
- Hybrids and Electrified Vehicles
Growth and transition
Hybrid, plug-in hybrid, battery-electric, and fuel-cell vehicles support Hyundai's transition while giving buyers powertrain choice during uneven EV adoption.
- Genesis Luxury
Premium margin contributor
Genesis sedans and SUVs lift brand perception and average transaction prices while competing with Lexus, Mercedes-Benz, BMW, and Audi.
- Parts, Services, and Mobility
Recurring and adjacent
After-sales service, parts, connected services, fleet offerings, robotics, and future mobility investments extend Hyundai beyond one-time vehicle sales.
Qualcomm
- QCT Handsets~63%
Snapdragon processors, modems and RF chips for smartphones: $27.793B in FY2025. Handset revenue fell 20% to $5.1B in Q3 FY2026 as memory costs hurt phone demand.
- QCT IoT~15%
Chips for industrial devices, networking, XR headsets, PCs and consumer electronics: $6.617B in FY2025 and $1.8B in Q3 FY2026.
- QCT Automotive~9%
Snapdragon Digital Chassis cockpit, ADAS and connectivity platforms: $3.957B in FY2025, up from $2.9B in FY2024, and $1.6B in Q3 FY2026 (up 61%).
- QTL Licensing and other~13%
Royalties on Qualcomm's cellular patents plus smaller strategic initiatives. QTL revenue was $1.3B in Q3 FY2026 at a 69% EBT margin, making it a disproportionate profit contributor.
Business model and strategy
Hyundai
How it makes money
Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets. Three layers sit on top of that core: the Genesis luxury brand, which lifts average transaction prices; a finance division (Hyundai Capital and Hyundai Capital America) that earns interest and lease income on vehicle loans; and after-sales parts and service.
Growth strategy
Hyundai's growth strategy rests on four moves: localising production in the United States, India and other big markets to avoid tariffs; expanding hybrids across its range while keeping EV investment flexible; pushing Genesis higher in luxury; and building software, autonomous driving and robotics. In the U.S.
Competitive advantage
Hyundai's edge is breadth plus speed. It can offer gasoline, hybrid, plug-in, battery-electric and hydrogen versions of key models, which matters as EV demand stalls in some markets and hybrids take more than a quarter of its U.S. sales.
Qualcomm
How it makes money
Qualcomm earns money in two ways. QCT (Qualcomm CDMA Technologies) designs Snapdragon systems-on-chip, modems, RF front-end and Wi-Fi/Bluetooth chips and sells them to handset, automotive, PC and IoT customers; manufacturing is outsourced to foundries such as TSMC and Samsung. QCT produced $38.367B of FY2025 revenue, including $27.793B from handsets, $6.617B from IoT and $3.957B from automotive.
Growth strategy
Qualcomm's growth plan is to reuse Snapdragon's low-power compute, connectivity and AI engines outside phones. Automotive is the clearest win so far, with the Snapdragon Digital Chassis growing from $2.9B in FY2024 to $3.957B in FY2025 and $1.6B in Q3 FY2026 alone. Snapdragon X chips target Windows Copilot+ laptops. Industrial IoT and robotics carry a design-win pipeline above $7B.
Competitive advantage
Qualcomm's edge comes from pairing leading cellular modem and RF engineering with one of the largest portfolios of standard-essential wireless patents. That combination lets it sell integrated Snapdragon platforms (CPU, GPU, NPU, modem and RF) while still collecting royalties on phones that use rival chips. Its custom Oryon CPU cores, from the 2021 Nuvia deal, now run in both flagship phone and Windows PC chips.
Questions about Hyundai vs Qualcomm
Which company has higher revenue — Hyundai Motor Company or Qualcomm Inc.?
Hyundai Motor Company reported ~$132.2B (FY2025), while Qualcomm Inc. reported $44.3B (FY2025). By last reported revenue, Hyundai Motor Company is the larger business, with Qualcomm Inc. reporting a smaller revenue base.
What is the market cap of Hyundai Motor Company vs Qualcomm Inc.?
Hyundai Motor Company's market capitalisation stands at $52.0B, while Qualcomm Inc.'s is $208.0B. Qualcomm Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Hyundai Motor Company.
Which is more financially efficient — Hyundai Motor Company or Qualcomm Inc.?
Hyundai Motor Company generates $1.08M / employee in revenue per employee, while Qualcomm Inc. generates $852k / employee. Hyundai Motor Company 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 Hyundai Motor Company and Qualcomm Inc. make money?
Hyundai Motor Company and Qualcomm Inc. generate revenue in fundamentally different ways. Hyundai Motor Company: Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets. Qualcomm Inc.: Qualcomm earns money in two ways.
Which company is valued higher relative to revenue — Hyundai Motor Company or Qualcomm Inc.?
On a price-to-sales (P/S) basis, Hyundai Motor Company trades at 0.4x P/S and Qualcomm Inc. at 4.7x P/S. Qualcomm Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Hyundai Motor Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Hyundai Motor Company bigger than Qualcomm Inc.?
By last reported revenue, Hyundai Motor Company (~$132.2B (FY2025)) is the larger company compared to Qualcomm Inc. ($44.3B (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 Hyundai vs Qualcomm overview