Unilever vs Xiaomi: Revenue, Profit and Business Model
Unilever reported ~$57.1B of revenue in FY2025 and ~$10.7B of net income. Xiaomi reported ~$63.6B of revenue in FY2025 and ~$5.8B of net income.
Latest financial snapshot
Financial summary
Unilever
Unilever's 2025 turnover from continuing operations was ~$57.1 billion (EUR 50.5 billion), down 3.8% in reported terms because of adverse currency moves and disposals, even as underlying sales grew 3.5% with 1.5% from volume. Free cash flow was ~$6.67 billion (EUR 5.9 billion), about $757 million (EUR 670 million) of productivity savings had been delivered by the end of 2025, and the company announced a new ~$1.69 billion (EUR 1.5 billion) share buyback. Momentum improved in 2026: first-half turnover was ~$28.9 billion (EUR 25.6 billion) (up 0.5%), underlying sales grew 4.8% with 4.2% volume, Q2 underlying growth reached 5.8%, and the underlying operating margin was 20.3%. Unilever raised its full-year outlook after the H1 2026 results.
Xiaomi
FY2025 was Xiaomi's strongest year: revenue rose 25.0% to ~$63.6B (RMB457.3B), profit attributable to owners was ~$5.78B (RMB41.6B), and adjusted net profit rose 43.8% to ~$5.45B (RMB39.2B). The Smart EV, AI and other new initiatives segment more than tripled to ~$14.7B (RMB106.1B) on 411,082 vehicle deliveries and posted its first full-year operating profit. 2026 has been weaker. Q1 revenue was ~$13.8B (RMB99.1B) (down 10.9%) with adjusted net profit of ~$848M (RMB6.1B) (down 43.1%). Q2 revenue was ~$15.1B (RMB108.9B) (down 6.1%) with adjusted net profit of ~$862M (RMB6.2B) (down 42.6%) and a 19.8% gross margin. In Q2 the EV segment had ~$3.46B (RMB24.9B) of revenue and an operating loss of about $361M (RMB2.6B).
Revenue and profit by year
Unilever
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$57.1B | ~$10.7B | 18.7% | -3.8% | Source |
| FY2024 | ~$59.3B | ~$6.5B | 10.9% | +1.5% | Source |
| FY2023 | ~$58.4B | ~$7.3B | 12.6% | -14.0% | Source |
| FY2022 | ~$67.9B | ~$8.6B | 12.7% | +14.5% | Source |
| FY2021 | ~$59.3B | ~$6.8B | 11.5% | +3.4% | Source |
| FY2020 | ~$57.3B | ~$6.3B | 11.0% | -2.4% | Source |
| FY2019 | ~$58.7B | ~$6.4B | 10.8% | +2.0% | Source |
| FY2018 | ~$57.6B | ~$10.6B | 18.4% | -5.1% | Source |
| FY2017 | ~$60.7B | ~$6.8B | 11.2% | +1.9% | Source |
| FY2016 | ~$59.6B | ~$5.9B | 9.8% | — | Source |
Where the revenue comes from
Unilever
- Power Brands
78% of 2025 turnover
Dove, Vaseline, Rexona, Sunsilk, OMO, Knorr and the other Power Brands made up 78% of turnover in 2025.
- Beauty & Wellbeing
Not formally reported
One of four business groups reported after the 2025 Ice Cream demerger; it includes prestige beauty and wellbeing supplements.
- Personal Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Home Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Foods
Not formally reported
Largely to be combined with McCormick in a pending transaction; it includes Unilever Food Solutions for foodservice.
Xiaomi
- Smartphones
40.8% (FY2025)
~$25.9B (RMB186.4B) from Xiaomi, Redmi and POCO phones.
- IoT, Lifestyle Products and Internet Services
36.0% (FY2025)
Remainder of the Smartphone x AIoT segment, including appliances, TVs, wearables, advertising and games.
- Smart EV, AI and Other New Initiatives
23.2% (FY2025)
~$14.7B (RMB106.1B), mostly from SU7 and YU7 vehicle sales.
Business model and strategy
Unilever
How it makes money
Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce. After the 2025 Ice Cream demerger it reports four business groups: Beauty & Wellbeing, Personal Care, Home Care and Foods. Its Power Brands, such as Dove, Vaseline, Rexona, Sunsilk, OMO and Knorr, made up 78% of turnover in 2025.
Growth strategy
Under Fernando Fernandez, Unilever is concentrating investment behind about 30 Power Brands, increasing marketing spend through social and influencer channels, rotating the portfolio toward premium beauty and wellbeing (2025 deals included Dr. Squatch, Wild and Minimalist), and separating lower-growth food and ice cream assets.
Competitive advantage
Unilever's advantage is a mix of trusted brands, emerging-market distribution, local manufacturing, repeat-purchase categories, Power Brand marketing scale, and deep category knowledge in personal care, home care, beauty, and foods.
Xiaomi
How it makes money
Xiaomi sells hardware at relatively thin margins and earns higher margins from internet services delivered through its installed base of devices, including advertising, app distribution and games. Smartphones were the largest single product line in FY2025 at ~$25.9B (RMB186.4B) of revenue. IoT products extend the ecosystem into homes, and many of them are made by ecosystem partner companies Xiaomi has invested in.
Growth strategy
Xiaomi's stated strategy is the Human x Car x Home ecosystem: sell more premium smartphones, add large appliances and other IoT categories, scale the car lineup, and invest in its own AI models and chips, such as the MiMo models and the XRING O1 processor.
Competitive advantage
Xiaomi's advantages are scale in smartphones (top three globally by shipments), a very wide range of connected products under one brand and one operating system, a large device base it can monetize through services, and a fast-growing car business that buyers can connect to the same ecosystem.
Questions about Unilever vs Xiaomi
Which company has higher revenue — Unilever PLC or Xiaomi Corp.?
Unilever PLC reported ~$57.1B (FY2025), while Xiaomi Corp. reported ~$63.6B (FY2025). By last reported revenue, Xiaomi Corp. is the larger business, with Unilever PLC reporting a smaller revenue base.
What is the market cap of Unilever PLC vs Xiaomi Corp.?
Unilever PLC's market capitalisation stands at $132.5B, while Xiaomi Corp.'s is $83.0B. Unilever PLC carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Xiaomi Corp..
Which is more financially efficient — Unilever PLC or Xiaomi Corp.?
Unilever PLC generates $594k / employee in revenue per employee, while Xiaomi Corp. generates $1.12M / employee. Xiaomi Corp. 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 Unilever PLC and Xiaomi Corp. make money?
Unilever PLC and Xiaomi Corp. generate revenue in fundamentally different ways. Unilever PLC: Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce. Xiaomi Corp.: Xiaomi sells hardware at relatively thin margins and earns higher margins from internet services delivered through its installed base of devices, including advertising, app distribution and games.
Which company is valued higher relative to revenue — Unilever PLC or Xiaomi Corp.?
On a price-to-sales (P/S) basis, Unilever PLC trades at 2.3x P/S and Xiaomi Corp. at 1.3x P/S. Unilever PLC commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Xiaomi Corp.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Unilever PLC bigger than Xiaomi Corp.?
By last reported revenue, Xiaomi Corp. (~$63.6B (FY2025)) is the larger company compared to Unilever PLC (~$57.1B (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 Unilever vs Xiaomi overview