Volkswagen vs Wipro: Revenue, Profit and Business Model
Volkswagen reported ~$363.8B of revenue in FY2025 and ~$7.5B of net income. Wipro reported ~$10.7B of revenue in FY2026 and ~$1.5B of net income.
Latest financial snapshot
Volkswagen
- Latest revenue
- ~$363.8B (FY2025)
- Net income
- ~$7.5B
- Net margin
- 2.1%
- Revenue growth
- +6.5% a year, FY2021–FY2025
Wipro
- Latest revenue
- ~$10.7B (FY2026)
- Net income
- ~$1.5B
- Net margin
- 14.2%
- Revenue growth
- +6.1% a year, FY2016–FY2026
Financial summary
Volkswagen
Volkswagen Group reported ~$364 billion (EUR 321.9 billion) in 2025 sales revenue, slightly below ~$367 billion (EUR 324.7 billion) in 2024, and an operating result of ~$10.1 billion (EUR 8.9 billion), a 2.8% margin. Earnings were held down by U.S. tariffs, restructuring provisions, the cost of Porsche's product strategy change, and weaker results from the Chinese joint ventures. Deliveries were broadly stable at 8.984 million vehicles. The December 2024 agreement with IG Metall for the Volkswagen brand in Germany avoids compulsory redundancies but plans to cut more than 35,000 jobs by 2030 through attrition and early retirement, and to reduce German plant capacity. In the first half of 2026 sales revenue was about $179 billion (EUR 158.1 billion), roughly flat, while the operating result fell 11.6% to about $6.67 billion (EUR 5.9 billion) (3.8% margin). In September 2026 Volkswagen cut its full-year forecast to about $356 billion (EUR 315 billion) in sales revenue and an operating margin of up to 1%, citing China, a faster shift to EVs, a roughly $6.78 billion (EUR 6 billion) goodwill impairment on the Porsche segment, and extra restructuring and China impairments.
Wipro
In FY2026 Wipro reported gross revenue of Rs 926.2 billion and net income of Rs 132.0 billion. IT services revenue was about $10.48 billion, roughly level with the year before, and the IT services operating margin was 17.2%. Fourth-quarter gross revenue was Rs 242.4 billion, up 7.7% year over year, and quarterly net income was Rs 35.0 billion, down 1.9%. With the Q4 results in April 2026, the board approved a Rs 150 billion share buyback. In Q1 FY2027, gross revenue rose 10.6% year over year to Rs 244.8 billion. IT services revenue fell 1.4% sequentially to $2,614.5 million, and net income was Rs 33.6 billion ($354.6 million), up 0.6% year over year.
Revenue and profit by year
Volkswagen
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$363.8B | ~$7.5B | 2.1% | -0.8% | Source |
| FY2024 | ~$366.9B | ~$12.1B | 3.3% | +0.7% | Source |
| FY2023 | ~$364.2B | ~$18B | 4.9% | +15.5% | Source |
| FY2022 | ~$315.3B | ~$16.8B | 5.3% | +11.5% | Source |
| FY2021 | ~$282.7B | ~$16.8B | 5.9% | — | Source |
Wipro
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$10.7B | ~$1.5B | 14.2% | +4.0% | Source |
| FY2025 | ~$10.3B | ~$1.5B | 14.7% | -0.7% | Source |
| FY2024 | ~$10.4B | ~$1.3B | 12.3% | -0.8% | Source |
| FY2023 | ~$10.5B | ~$1.3B | 12.5% | +14.4% | Source |
| FY2022 | ~$9.2B | ~$1.4B | 15.4% | +27.7% | Source |
| FY2021 | ~$7.2B | ~$1.3B | 17.4% | +1.5% | Source |
| FY2020 | ~$7.1B | ~$1.1B | 15.9% | +4.2% | Source |
| FY2019 | ~$6.8B | ~$1B | 15.4% | +7.5% | Source |
| FY2018 | ~$6.3B | ~$928.9M | 14.7% | -1.0% | Source |
| FY2017 | ~$6.4B | ~$984.8M | 15.4% | +7.4% | Source |
| FY2016 | ~$5.9B | ~$1B | 17.4% | — | Source |
Where the revenue comes from
Volkswagen
- Passenger vehicle sales
- Premium and luxury vehicle sales
- Commercial vehicles
- Parts and aftersales
- Financial services
- Leasing and fleet services
- Software and mobility services
Wipro
- IT Services~99%
Consulting, application, cloud, infrastructure, engineering, and business process services. This segment accounts for nearly all of Wipro's revenue.
- IT Products~1%
Resale of third-party hardware and software, mainly in India. The segment is small and has been shrinking.
Business model and strategy
Volkswagen
How it makes money
Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus).
Growth strategy
Volkswagen's growth strategy centers on cost reduction, platform simplification, brand accountability, premium profitability, China-specific EV development, battery and software investment, hybrid and combustion optimization where demand remains strong, and selective partnerships such as Rivian and XPeng.
Competitive advantage
Volkswagen's advantage is industrial scale plus brand breadth. Few competitors can cover entry-level European cars, global volume SUVs, Audi premium vehicles, Porsche sports cars, Lamborghini supercars, Bentley luxury cars, Ducati motorcycles, Scania and MAN trucks, and a major financial services arm. The purchasing leverage and installed dealer base are hard to replicate.
Wipro
How it makes money
Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work. Contracts are priced as time-and-materials, fixed-price, or managed-service deals.
Growth strategy
Under Srini Pallia, Wipro is focusing on large deals, consulting-led selling, AI-enabled delivery through its ai360 program, and growth in its biggest client accounts. In 2025 it agreed to acquire Harman's Digital Transformation Solutions unit to add engineering services capacity.
Competitive advantage
Wipro's strengths are long-standing client relationships, a large India delivery base, engineering services depth, Capco's position in financial services consulting, a net cash balance sheet, and stable Premji family control.
Questions about Volkswagen vs Wipro
Which company has higher revenue — Volkswagen Aktiengesellschaft or Wipro Limited?
Volkswagen Aktiengesellschaft reported ~$363.8B (FY2025), while Wipro Limited reported ~$10.7B (FY2026). By last reported revenue, Volkswagen Aktiengesellschaft is the larger business, with Wipro Limited 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 Volkswagen Aktiengesellschaft vs Wipro Limited?
Volkswagen Aktiengesellschaft's market capitalisation stands at $35.5B, while Wipro Limited's is $28.0B. Volkswagen Aktiengesellschaft carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Wipro Limited.
Which is more financially efficient — Volkswagen Aktiengesellschaft or Wipro Limited?
Volkswagen Aktiengesellschaft generates $549k / employee in revenue per employee, while Wipro Limited generates $47k / employee. Volkswagen Aktiengesellschaft 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 Volkswagen Aktiengesellschaft and Wipro Limited make money?
Volkswagen Aktiengesellschaft and Wipro Limited generate revenue in fundamentally different ways. Volkswagen Aktiengesellschaft: Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus). Wipro Limited: Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work.
Which company is valued higher relative to revenue — Volkswagen Aktiengesellschaft or Wipro Limited?
On a price-to-sales (P/S) basis, Volkswagen Aktiengesellschaft trades at 0.1x P/S and Wipro Limited at 2.6x P/S. Wipro Limited commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Volkswagen Aktiengesellschaft. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Volkswagen Aktiengesellschaft bigger than Wipro Limited?
By last reported revenue, Volkswagen Aktiengesellschaft (~$363.8B (FY2025)) is the larger company compared to Wipro Limited (~$10.7B (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 Volkswagen vs Wipro overview