SEAT vs Skoda Auto: Revenue, Profit and Business Model
SEAT reported ~$17.1B of revenue in FY2025 and ~$46.2M of net income. Skoda Auto reported ~$34B of revenue in FY2025 and — of net income.
Latest financial snapshot
SEAT
- Latest revenue
- ~$17.1B (FY2025)
- Net income
- ~$46.2M
- Net margin
- 0.3%
- Revenue growth
- +11.4% a year, FY2022–FY2025
Skoda Auto
- Latest revenue
- ~$34B (FY2025)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +6.6% a year, FY2023–FY2025
Financial summary
SEAT
SEAT S.A. lost money for much of the 2000s and 2010s, then reached record operating profits of ~$706 million (€625 million) in 2023 and ~$715 million (€633 million) in 2024 on the back of CUPRA. In 2025 revenue still hit a record ~$17.1 billion (€15.1 billion), but tariffs on the China-built Tavascan, sales mix and product costs pushed operating profit to about $1.13 million (€1 million) and net profit to ~$46.2 million (€40.9 million). Results recovered in the first half of 2026, with an operating result of ~$138 million (€122 million).
Skoda Auto
Skoda Auto Group revenue rose from ~$29.9 billion (€26.5 billion) in 2023 to ~$31.4 billion (€27.8 billion) in 2024 and a record ~$34 billion (€30.1 billion) in 2025 (+8.3%). Operating profit reached ~$2.82 billion (€2.5 billion) in 2025 (+8.6%), giving a return on sales of 8.3%, and net cash flow hit a record ~$2.6 billion (€2.3 billion). In the first half of 2026 revenue grew 6.3% to ~$18.1 billion (€16.0 billion), operating profit rose 6.3% to ~$1.58 billion (€1.4 billion), return on sales held at 8.5% and net cash flow rose 14.3% to ~$1.92 billion (€1.7 billion). Management credits higher volumes, cost discipline under the Next Level Efficiency+ programme and Volkswagen Group synergies.
Revenue and profit by year
SEAT
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$17.1B | ~$46.2M | 0.3% | +4.0% | Source |
| FY2024 | ~$16.4B | ~$589.9M | 3.6% | +1.4% | Source |
| FY2023 | ~$16.2B | — | 0.0% | +31.0% | Source |
| FY2022 | ~$12.4B | — | 0.0% | — | Source |
Skoda Auto
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$34B | — | 0.0% | +8.3% | Source |
| FY2024 | ~$31.4B | — | 0.0% | +4.9% | Source |
| FY2023 | ~$29.9B | — | 0.0% | — | Source |
Where the revenue comes from
SEAT
- CUPRA vehicle sales
Formentor, Terramar, Leon, Born, Tavascan and Raval; 328,800 deliveries in 2025. SEAT S.A. does not publish revenue by brand.
- SEAT vehicle sales
Ibiza, Arona and Leon; 257,400 deliveries in 2025.
- Group contract production, parts and aftersales
Building cars for other Volkswagen Group brands at Martorell (including the VW ID. Polo from 2026), plus spare parts and components.
Skoda Auto
No segment breakdown is published.
Business model and strategy
SEAT
How it makes money
SEAT S.A. makes money by designing, building and selling cars under two brands. CUPRA sells higher-priced, sportier and electrified models such as the Formentor, Terramar, Born, Tavascan and Raval, and has become the larger brand by volume (328,800 deliveries in 2025). SEAT sells lower-priced Ibiza, Arona and Leon models (257,400 deliveries in 2025).
Growth strategy
The plan is to grow CUPRA, ramp up the electric CUPRA Raval, fill Martorell with group production such as the VW ID. Polo, and lift operating return on sales to 6% by 2030. The future of the SEAT brand itself is under review after Volkswagen's September 2026 restructuring plan; SEAT S.A. says no final decision has been taken.
Competitive advantage
SEAT S.A.'s main advantages are access to Volkswagen Group platforms and purchasing, and CUPRA's design-led positioning, which lets it charge more than SEAT for cars built on shared parts. Martorell's role as the group's small-EV plant gives it volume beyond its own brands.
Skoda Auto
How it makes money
Skoda makes most of its money selling new cars. In its 2025 annual report, car sales made up 83.9% of Skoda Auto a.s. revenue, with the rest coming from genuine parts, accessories, components supplied to other Volkswagen Group brands and services. The line-up runs from the Fabia and Kamiq through the Octavia, Superb and Kodiaq to the electric Elroq, Enyaq, Epiq and Peaq.
Growth strategy
Skoda's growth plan has two tracks. In Europe it is widening its EV range at lower price points (Elroq, Epiq) while keeping combustion and plug-in hybrid versions of the Octavia, Superb and Kodiaq. Internationally it leads Volkswagen Group business in India and is building presence in ASEAN, the Middle East, Türkiye and Morocco. India deliveries doubled in 2025, and the Kylaq compact SUV is a key volume model there.
Competitive advantage
Skoda's edge comes from combining Volkswagen Group platforms, engines and EV hardware with its own packaging and pricing. Its cars typically offer more cabin and boot space than similarly priced rivals, and features branded 'Simply Clever' (an umbrella in the door, an ice scraper in the fuel flap) reinforce a practical image.
Questions about SEAT vs Skoda Auto
Which company has higher revenue — SEAT or Skoda Auto a.s.?
SEAT reported ~$17.1B (FY2025), while Skoda Auto a.s. reported ~$34B (FY2025). By last reported revenue, Skoda Auto a.s. is the larger business, with SEAT reporting a smaller revenue base.
Which is more financially efficient — SEAT or Skoda Auto a.s.?
SEAT generates $1.31M / employee in revenue per employee, while Skoda Auto a.s. generates $850k / employee. SEAT 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 SEAT and Skoda Auto a.s. make money?
SEAT and Skoda Auto a.s. generate revenue in fundamentally different ways. SEAT: SEAT S. Skoda Auto a.s.: Skoda makes most of its money selling new cars.
Is SEAT bigger than Skoda Auto a.s.?
By last reported revenue, Skoda Auto a.s. (~$34B (FY2025)) is the larger company compared to SEAT (~$17.1B (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 SEAT vs Skoda Auto overview