Nissan vs SAIC Motor: Revenue, Profit and Business Model
Nissan had ~$80.5B of annual revenue in FY2026 and a net loss of ~$3.6B. SAIC Motor had ~$91.2B of annual revenue in FY2025 and ~$1.4B of net income.
Latest financial snapshot
Nissan
- Latest annual revenue
- ~$80.5B (FY2026)
- Net income
- ~-$3.6B
- Net margin
- -4.4%
- Revenue growth
- +9.3% a year, FY2022–FY2026
SAIC Motor
- Latest annual revenue
- ~$91.2B (FY2025)
- Net income
- ~$1.4B
- Net margin
- 1.5%
- Revenue growth
- -4.2% a year, FY2021–FY2025
Financial summary
Nissan
Revenue peaked at ~$85 billion (¥12.69 trillion) in FY2023 (ended March 2024), with net income of ~$2.86 billion (¥426.6 billion). Then weak U.S. pricing, an ageing lineup and share losses in China hit results. FY2024 revenue was ~$84.6 billion (¥12.63 trillion) with a ~$4.5 billion (¥670.9 billion) net loss, driven by impairments and restructuring charges. FY2025 revenue fell 4.9% to ~$80.4 billion (¥12.0 trillion) and the net loss narrowed to ~$3.57 billion (¥533.1 billion), while operating profit stayed positive at ~$389 million (¥58.0 billion) (0.5% margin). Automotive free cash flow was minus ~$3.22 billion (¥480.8 billion) for the year but turned positive (~$750 million (¥112 billion)) in the second half. Nissan ended FY2025 with ~$7.84 billion (¥1.17 trillion) of automotive net cash and ~$24.1 billion (¥3.6 trillion) of total liquidity, and paid no dividend. In Q1 FY2026 (April to June 2026), revenue rose 9.5% to ~$19.9 billion (¥2.964 trillion) and operating profit was ~$522 million (¥77.9 billion), against a ~$530 million (¥79.1 billion) loss a year earlier. Nissan Motor Co., Ltd. is a colossal Japanese multinational automobile manufacturer and a core member of the Renault–Nissan–Mitsubishi Alliance, commanding a market valuation generally exceeding $15 billion.
SAIC Motor
Revenue peaked at ~$108 billion (CN¥779.8 billion) in 2021, then fell to ~$87.2 billion (CN¥627.6 billion) in 2024 as joint-venture volumes shrank, and net profit dropped to ~$232 million (CN¥1.67 billion) that year. 2025 brought a rebound: revenue rose 4.6% to ~$91.2 billion (CN¥656.24 billion) and attributable net profit rose to ~$1.41 billion (CN¥10.11 billion). In the first half of 2026 revenue was flat at ~$41.5 billion (CN¥298.65 billion), net profit fell 14.4% to ~$716 million (CN¥5.15 billion), and operating cash flow rose 158% to ~$7.55 billion (CN¥54.3 billion). The board proposed a 2025 cash dividend of CN¥2.66 per 10 shares, about $423 million (CN¥3.04 billion) in total. SAIC Motor Corporation Limited is a colossal Chinese state-owned automotive design and manufacturing company, sustaining a market valuation typically exceeding $20 billion.
Revenue and profit by year
Nissan
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$80.5B | ~-$3.6B | -4.4% | -4.9% | Source |
| FY2025 | ~$84.6B | ~-$4.5B | -5.3% | -0.4% | Source |
| FY2024 | ~$85B | ~$2.9B | 3.4% | +19.7% | Source |
| FY2023 | ~$71B | ~$1.5B | 2.1% | +25.8% | Source |
| FY2022 | ~$56.4B | ~$1.4B | 2.6% | — | Source |
SAIC Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$91.2B | ~$1.4B | 1.5% | +4.6% | Source |
| FY2024 | ~$87.2B | ~$231.6M | 0.3% | -15.7% | Source |
| FY2023 | ~$103.5B | ~$2B | 1.9% | +0.1% | Source |
| FY2022 | ~$103.4B | ~$2.2B | 2.2% | -4.6% | Source |
| FY2021 | ~$108.4B | ~$3.4B | 3.1% | — | Source |
Where the revenue comes from
Nissan
- Vehicle Core Manufacturing88
Wholesale deliveries of passenger sedans, crossover SUVs, pickup trucks, and EVs through franchised global dealer networks.
- Sales Financing10
Retail auto purchase loans, consumer vehicle leases, and wholesale dealer inventory floorplan financing yields.
- Aftermarket, Software & Licensing2
Distribution of genuine replacement parts, Nismo performance tuning kits, NissanConnect digital subscriptions, and battery recycling.
SAIC Motor
- Vehicle sales (own brands and consolidated JVs)
Not formally reported
Sales of MG, Roewe, IM Motors, Maxus and Wuling vehicles in China and overseas.
- Auto parts (HASCO / Huayu Automotive)
Not formally reported
Interiors, lighting, chassis, thermal and e-drive parts sold to SAIC and other carmakers.
- Joint-venture investment income
Not formally reported
SAIC's share of profits from 50:50 joint ventures with Volkswagen and General Motors.
- Finance, logistics and mobility services
Not formally reported
Auto loans and dealer financing, Anji Logistics vehicle transport, and mobility services.
Business model and strategy
Nissan
How it makes money
Nissan makes money in two segments. The automobile business designs, builds and wholesales Nissan, Infiniti and NISMO vehicles (crossovers such as the Rogue/X-Trail, Kicks and Qashqai, sedans such as the Sentra and Altima, pickups such as the Frontier/Navara, and EVs such as the Leaf, Ariya and Sakura) to franchised dealers, and also sells parts.
Growth strategy
Re:Nissan, announced in May 2025, is a restructuring plan before it is a growth plan. It targets ~$3.35 billion (¥500 billion) in fixed and variable cost savings against FY2024, about 20,000 job reductions, and cutting vehicle plants from 17 to 10 by FY2027. Vehicle production at Oppama will end in FY2027 and move to Nissan Motor Kyushu.
Competitive advantage
Nissan's advantage is a global manufacturing footprint and long experience with electric vehicles. It launched the mass-market Leaf in 2010, which gives it more than a decade of data on how batteries perform in everyday use. Its e-POWER system, in which a petrol engine charges the battery and never drives the wheels, offers an option for markets with few EV chargers.
SAIC Motor
How it makes money
SAIC makes money mainly by building and selling vehicles. Revenue is consolidated from its own brands (MG, Roewe, IM Motors, Maxus/LDV), from consolidated joint ventures, and from parts maker HASCO (Huayu Automotive Systems).
Growth strategy
SAIC's growth plan centres on its own brands and overseas markets. MG is the export spearhead, with local assembly in Thailand, Indonesia and India and plans for more local production to work around tariffs. At home, SAIC is moving Roewe, MG and IM Motors onto new EV and plug-in hybrid platforms, and working with partners such as Huawei, Audi and Alibaba on software and premium models.
Competitive advantage
SAIC's advantages are scale, a long head start in exports and a well-known Western brand. MG gives it an established dealer network in the UK, Europe, Australia, India and the Middle East. It also has backing from the Shanghai government, its own parts supplier in HASCO, its own car logistics arm in Anji Logistics, and four decades of manufacturing know-how from working with Volkswagen and GM.
Questions about Nissan vs SAIC Motor
Which company has higher revenue — Nissan Motor Co., Ltd. or SAIC Motor?
Nissan Motor Co., Ltd. had ~$80.5B (FY2026), while SAIC Motor had ~$91.2B (FY2025). By latest annual revenue, SAIC Motor is the larger business, with Nissan Motor Co., Ltd. showing 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 Nissan Motor Co., Ltd. vs SAIC Motor?
Nissan Motor Co., Ltd.'s market capitalisation stands at $7.0B, while SAIC Motor's is $17.0B. SAIC Motor carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Nissan Motor Co., Ltd..
How does revenue per employee compare for Nissan Motor Co., Ltd. and SAIC Motor?
Nissan Motor Co., Ltd. has $670k / employee in revenue per employee, while SAIC Motor has $507k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Nissan Motor Co., Ltd. and SAIC Motor make money?
Nissan Motor Co., Ltd. and SAIC Motor generate revenue in fundamentally different ways. Nissan Motor Co., Ltd.: Nissan makes money in two segments. SAIC Motor: SAIC makes money mainly by building and selling vehicles.
Which company is valued higher relative to revenue — Nissan Motor Co., Ltd. or SAIC Motor?
On a price-to-sales (P/S) basis, Nissan Motor Co., Ltd. trades at 0.1x P/S and SAIC Motor at 0.2x P/S. SAIC Motor commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Nissan Motor Co., Ltd.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Nissan Motor Co., Ltd. bigger than SAIC Motor?
By last reported revenue, SAIC Motor (~$91.2B (FY2025)) is the larger company compared to Nissan Motor Co., Ltd. (~$80.5B (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 Nissan vs SAIC Motor overview