Porsche vs Walmart: Revenue, Profit and Business Model
Porsche reported ~$41B of revenue in FY2025 and ~$350.3M of net income. Walmart reported $713.2B of revenue in FY2026 and $21.9B of net income.
Latest financial snapshot
Financial summary
Porsche
Porsche's financials swung from a record 2023 (~$45.8 billion (EUR40.53 billion) revenue, ~$5.83 billion (EUR5.16 billion) profit after tax) to a sharp reset. In 2025 revenue fell 9.5% to ~$41 billion (EUR36.27 billion), operating profit dropped to ~$467 million (EUR413 million) (1.1% return on sales) and profit after tax was ~$350 million (EUR310 million), hit by costs of reworking the product plan, U.S. tariffs and weak China demand. In the first half of 2026 revenue was ~$19.5 billion (EUR17.23 billion) (prior year ~$20.5 billion (EUR18.16 billion)), operating profit rose 34% to ~$1.53 billion (EUR1.35 billion) and return on sales improved to 7.8%, helped by lower one-off charges.
Walmart
Walmart's FY2026 total revenues rose 4.7% to $713.2 billion and net income attributable to Walmart rose to $21.9 billion from $19.4 billion in FY2025. In Q2 FY27 (quarter ended July 31, 2026), total revenues rose 5.9% to $187.9 billion and adjusted EPS was $0.81 versus $0.68 a year earlier. Adjusted operating income growth of about 17% in constant currency included a benefit from roughly $2.9 billion in IEEPA tariff refunds, much of which Walmart said it reinvested in prices. Walmart raised its full-year sales and operating income growth guidance with the Q2 report.
Revenue and profit by year
Porsche
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$41B | ~$350.3M | 0.9% | -9.5% | Source |
| FY2024 | ~$45.3B | ~$4.1B | 9.0% | -1.1% | Source |
| FY2023 | ~$45.8B | ~$5.8B | 12.7% | +7.7% | Source |
| FY2022 | ~$42.5B | ~$5.6B | 13.2% | +13.6% | Source |
| FY2021 | ~$37.4B | ~$4.6B | 12.2% | — | Source |
Walmart
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $713.2B | $21.9B | 3.1% | +4.7% | Source |
| FY2025 | $681B | $19.4B | 2.9% | +5.1% | Source |
| FY2024 | $648.1B | $15.5B | 2.4% | +6.0% | Source |
| FY2023 | $611.3B | $11.7B | 1.9% | +6.7% | Source |
| FY2022 | $572.8B | $13.7B | 2.4% | +2.4% | Source |
| FY2021 | $559.2B | $13.5B | 2.4% | +6.7% | Source |
| FY2020 | $524B | $14.9B | 2.8% | +1.9% | Source |
| FY2019 | $514.4B | $6.7B | 1.3% | +2.8% | Source |
| FY2018 | $500.3B | $9.9B | 2.0% | +3.0% | Source |
| FY2017 | $485.9B | $13.6B | 2.8% | — | Source |
Where the revenue comes from
Porsche
- Vehicle sales
Not formally reported
Sales of 911, Cayenne, Macan, Panamera, Taycan, and 718 vehicles.
- Personalization and options
Not formally reported
High-margin customization, trims, performance packages, and limited editions.
- Financial services
Not formally reported
Financing and leasing for Porsche customers.
- Parts, service, and brand
Not formally reported
After-sales, accessories, motorsport-linked products, and brand experiences.
Walmart
- Walmart U.S.
Largest segment, roughly two-thirds of revenue
U.S. supercenters, discount stores, Neighborhood Markets, Walmart.com, marketplace, and Walmart Connect.
- Walmart International
Second-largest segment
Operations including Walmex in Mexico and Central America, Flipkart in India, Walmart Canada, and Walmart China.
- Sam's Club U.S.
Smallest segment
Membership warehouse club sales, fuel, and membership fees.
- Advertising, Membership, and Marketplace Services
Higher-margin income across segments
Global advertising grew 38% and membership fee revenue 17% in Q2 FY27.
Business model and strategy
Porsche
How it makes money
Porsche earns most of its money selling premium vehicles at high average prices. SUVs (Cayenne and Macan) supply most of the volume, the 911 anchors the brand and its pricing power, and the Panamera, Taycan and 718 fill out the range. Margin comes from mix and options: personalization through Porsche Exclusive Manufaktur and Sonderwunsch adds high-margin revenue per car.
Growth strategy
After 2025, Porsche moved from an EV-first plan to a flexible powertrain mix. It is extending combustion and hybrid versions of existing lines, adding the T-Hybrid 911, keeping the electric Taycan, Macan and the new Cayenne Electric, and planning a combustion Macan for 2028 after electric Macan sales fell in the first half of 2026.
Competitive advantage
Porsche's edge is a 60-year 911 lineage that few rivals can copy, a reputation for cars that are both track-capable and usable every day, and access to Volkswagen Group platforms and purchasing scale. The Cayenne shares architecture with the Audi Q7 and VW Touareg, and the electric Macan uses the PPE platform co-developed with Audi, which spreads development cost over far more vehicles than Porsche sells alone.
Walmart
How it makes money
Most of Walmart's revenue comes from selling groceries, consumables, general merchandise, health and wellness products, and fuel through stores, clubs, and ecommerce. Walmart U.S. is the largest segment at roughly two-thirds of revenue, followed by Walmart International (including Walmex, Flipkart, Walmart Canada, and Walmart China) and Sam's Club U.S.
Growth strategy
Walmart is pushing store-fulfilled delivery, marketplace assortment, advertising, and membership while keeping its price position. In Q2 FY27 it reported 23% global ecommerce growth, 38% global advertising growth, 17% higher membership fee revenue, and U.S. marketplace sales up 52%.
Competitive advantage
Walmart's edge is purchasing scale, a dense U.S. store network that doubles as a fulfillment network, frequent grocery trips, and first-party purchase data that supports its advertising business.
Questions about Porsche vs Walmart
Which company has higher revenue — Dr. Ing. h.c. F. Porsche AG or Walmart Inc.?
Dr. Ing. h.c. F. Porsche AG reported ~$41B (FY2025), while Walmart Inc. reported $713.2B (FY2026). By last reported revenue, Walmart Inc. is the larger business, with Dr. Ing. h.c. F. Porsche AG 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 Dr. Ing. h.c. F. Porsche AG vs Walmart Inc.?
Dr. Ing. h.c. F. Porsche AG's market capitalisation stands at $41.4B, while Walmart Inc.'s is $790.0B. Walmart Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Dr. Ing. h.c. F. Porsche AG.
Which is more financially efficient — Dr. Ing. h.c. F. Porsche AG or Walmart Inc.?
Dr. Ing. h.c. F. Porsche AG generates $981k / employee in revenue per employee, while Walmart Inc. generates $340k / employee. Dr. Ing. h.c. F. Porsche AG 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 Dr. Ing. h.c. F. Porsche AG and Walmart Inc. make money?
Dr. Ing. h.c. F. Porsche AG and Walmart Inc. generate revenue in fundamentally different ways. Dr. Ing. h.c. F. Porsche AG: Porsche earns most of its money selling premium vehicles at high average prices. Walmart Inc.: Most of Walmart's revenue comes from selling groceries, consumables, general merchandise, health and wellness products, and fuel through stores, clubs, and ecommerce.
Which company is valued higher relative to revenue — Dr. Ing. h.c. F. Porsche AG or Walmart Inc.?
On a price-to-sales (P/S) basis, Dr. Ing. h.c. F. Porsche AG trades at 1.0x P/S and Walmart Inc. at 1.1x P/S. Walmart Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Dr. Ing. h.c. F. Porsche AG. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Dr. Ing. h.c. F. Porsche AG bigger than Walmart Inc.?
By last reported revenue, Walmart Inc. ($713.2B (FY2026)) is the larger company compared to Dr. Ing. h.c. F. Porsche AG (~$41B (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 Porsche vs Walmart overview