Renault vs Stellantis: Revenue, Profit and Business Model
Renault reported ~$65.5B of revenue in FY2025 and a net loss of ~$12.4B. Stellantis reported ~$173.5B of revenue in FY2025 and a net loss of ~$25.2B.
Latest financial snapshot
Renault
- Latest revenue
- ~$65.5B (FY2025)
- Net income
- ~-$12.4B
- Net margin
- -18.9%
- Revenue growth
- +8.6% a year, FY2021–FY2025
Stellantis
- Latest revenue
- ~$173.5B (FY2025)
- Net income
- ~-$25.2B
- Net margin
- -14.5%
- Revenue growth
- +0.7% a year, FY2021–FY2025
Financial summary
Renault
Renault's revenue grew from ~$47.1 billion (EUR41.66 billion) in 2021 to ~$65.4 billion (EUR57.92 billion) in 2025 under the Renaulution value-over-volume plan. Group operating margin peaked at 7.9% in 2023, eased to 7.6% in 2024, and fell to 6.3% (~$4.1 billion (EUR3.63 billion)) in 2025 because of price pressure. The FY2025 net loss of ~$12.4 billion (EUR10.93 billion) came mainly from accounting changes and impairments on the Nissan stake, not from operations. In H1 2026, revenue rose 9.5% to ~$34.2 billion (EUR30.25 billion), operating margin was ~$1.81 billion (EUR1.6 billion) (5.2%), net income was ~$791 million (EUR0.7 billion) and automotive free cash flow was ~$738 million (EUR653 million). Renault confirmed 2026 guidance of about a 5.5% operating margin and about $1.13 billion (EUR1 billion) of automotive free cash flow.
Stellantis
Stellantis grew net revenues from ~$169 billion (EUR 149.4 billion) in 2021 to a peak of ~$214 billion (EUR 189.5 billion) in 2023, when net profit reached ~$21 billion (EUR 18.6 billion). Revenues then fell to ~$177 billion (EUR 156.9 billion) in 2024 and ~$173 billion (EUR 153.5 billion) in 2025, and 2025 ended with a ~$25.2 billion (EUR 22.3 billion) net loss after large charges linked to resetting its EV and product plans. Results improved in 2026: Q1 net revenues rose 6% to ~$43.1 billion (EUR 38.1 billion) with ~$452 million (EUR 0.4 billion) of net profit, and Q2 net revenues rose 13% to ~$49.2 billion (EUR 43.5 billion), with North America up 32%. Industrial available liquidity was ~$49.8 billion (EUR 44.1 billion) at June 30, 2026. Guidance for 2026 calls for mid-single-digit revenue growth and a low-single-digit adjusted operating margin.
Revenue and profit by year
Renault
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$65.5B | ~-$12.4B | -18.9% | +3.0% | Source |
| FY2024 | ~$63.5B | ~$849.8M | 1.3% | +7.4% | Source |
| FY2023 | ~$59.2B | ~$2.5B | 4.2% | +13.1% | Source |
| FY2022 | ~$52.4B | ~-$400M | -0.8% | +11.2% | Source |
| FY2021 | ~$47.1B | ~$1B | 2.1% | — | Source |
Stellantis
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$173.5B | ~-$25.2B | -14.5% | -2.1% | Source |
| FY2024 | ~$177.3B | ~$6.2B | 3.5% | -17.2% | Source |
| FY2023 | ~$214.2B | ~$21B | 9.8% | +5.5% | Source |
| FY2022 | ~$202.9B | ~$19B | 9.3% | +20.2% | Source |
| FY2021 | ~$168.8B | ~$16.1B | 9.5% | — | Source |
Where the revenue comes from
Renault
- Vehicle salesMajority
Sales of Renault, Dacia, Alpine, EV, hybrid, and light commercial vehicles.
- Financing and services
Meaningful
Sales financing, leasing, mobility, service contracts, and related customer finance.
- Parts and aftersales
Meaningful
Replacement parts, accessories, maintenance, and dealer-network aftersales.
- Partnerships and technologySmaller
Powertrain, platform, and alliance-linked strategic activities.
Stellantis
- New vehicle sales
- Parts and service
- Light commercial vehicles
- Leasing and mobility services
- Captive and partner financing
- Software and connected services
Business model and strategy
Renault
How it makes money
Renault makes most of its money by designing, building and selling passenger cars and light commercial vehicles under the Renault, Dacia and Alpine brands, mostly in Europe. Mobilize Financial Services (formerly RCI Bank and Services) adds loans, leases, insurance and dealer financing.
Growth strategy
Renault's current strategy is futuREady, presented by CEO Francois Provost on March 10, 2026. It rests on four priorities (growth, tech, resilience and trust) and plans 36 new models by 2030, faster technology roadmaps, wider use of AI in operations, and a new relationship with suppliers. Product launches shown with the plan included the Dacia Striker and the Renault Bridger concept.
Competitive advantage
Renault's main edge is cost-disciplined value. Dacia reuses proven group platforms and builds in lower-cost plants in Romania and Morocco, and the Sandero was the best-selling passenger car in Europe across all channels in H1 2026.
Stellantis
How it makes money
Stellantis makes money mainly by building and selling cars, SUVs, pickups and vans through franchised dealers in more than 130 markets. North America (Jeep, Ram, Dodge, Chrysler) has historically produced the largest share of profit. Enlarged Europe (Peugeot, Opel, Citroen, Fiat) supplies volume and leads in light commercial vehicles, while South America, led by Fiat and Jeep in Brazil, is consistently profitable.
Growth strategy
Under FaSTLAne 2030, presented at the May 21, 2026 investor day, Stellantis plans to invest more than $67.8 billion (EUR 60 billion) over five years and launch more than 60 new vehicles.
Competitive advantage
Stellantis's main advantages are brand breadth and regional scale. Jeep and Ram give it strong positions in high-margin US SUVs and pickups, Fiat leads the Brazilian market, and the group is a top seller of vans in Europe. Shared STLA platforms and common purchasing spread engineering costs across 14 brands. The flip side is that this model depends heavily on US profitability, which fell sharply in 2024 and 2025.
Questions about Renault vs Stellantis
Which company has higher revenue — Renault S.A. or Stellantis N.V.?
Renault S.A. reported ~$65.5B (FY2025), while Stellantis N.V. reported ~$173.5B (FY2025). By last reported revenue, Stellantis N.V. is the larger business, with Renault S.A. reporting a smaller revenue base.
What is the market cap of Renault S.A. vs Stellantis N.V.?
Renault S.A.'s market capitalisation stands at $8.6B, while Stellantis N.V.'s is $12.8B. Stellantis N.V. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Renault S.A..
Which is more financially efficient — Renault S.A. or Stellantis N.V.?
Renault S.A. generates $668k / employee in revenue per employee, while Stellantis N.V. generates $671k / employee. Stellantis N.V. 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 Renault S.A. and Stellantis N.V. make money?
Renault S.A. and Stellantis N.V. generate revenue in fundamentally different ways. Renault S.A.: Renault makes most of its money by designing, building and selling passenger cars and light commercial vehicles under the Renault, Dacia and Alpine brands, mostly in Europe. Stellantis N.V.: Stellantis makes money mainly by building and selling cars, SUVs, pickups and vans through franchised dealers in more than 130 markets.
Which company is valued higher relative to revenue — Renault S.A. or Stellantis N.V.?
On a price-to-sales (P/S) basis, Renault S.A. trades at 0.1x P/S and Stellantis N.V. at 0.1x P/S. Renault S.A. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Stellantis N.V.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Renault S.A. bigger than Stellantis N.V.?
By last reported revenue, Stellantis N.V. (~$173.5B (FY2025)) is the larger company compared to Renault S.A. (~$65.5B (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 Renault vs Stellantis overview