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NIO vs Paccar: revenue, profit, margins and growth compared

NIO brought in $12.5B of revenue in fiscal 2025, Paccar $28.4B in fiscal 2025. Revenue changed by +38.9% at NIO and -15.5% at Paccar on the year before, so NIO grew faster. NIO kept -17.8% of its revenue as net profit, Paccar 8.4%. Free cash flow was -$439.4M at NIO and $3.7B at Paccar.

Side by side, latest fiscal year

NIOPCAR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$12.5B$28.4B
Revenue growth+38.9%-15.5%
Net income-$2.2B$2.4B
Net margin-17.8%8.4%
Free cash flow-$439.4M$3.7B
Free cash flow margin-3.5%12.9%
Earnings per share (diluted)-$0.98$4.51
Cash$1.6Bn/a
Debt$1.3Bn/a
Price to earningsn/a24.8
Market value$9B$58.8B
Dividend yieldn/a2.44%
Rank by revenue in sector#51 of 587 · Industrials#24 of 587 · Industrials

Over the years

Revenue
NIO FY2018: $720.1MNIO FY2019: $1.1BNIO FY2020: $2.5BNIO FY2021: $5.7BNIO FY2022: $7.1BNIO FY2023: $7.8BNIO FY2024: $9BNIO FY2025: $12.5BPCAR FY2018: $23.5BPCAR FY2019: $25.6BPCAR FY2020: $18.7BPCAR FY2021: $23.5BPCAR FY2022: $28.8BPCAR FY2023: $35.1BPCAR FY2024: $33.7BPCAR FY2025: $28.4BFY18FY19FY20FY21FY22FY23FY24FY25
NIO $12.5BPCAR $28.4B
Net income
NIO FY2018: -$3.4BNIO FY2019: -$1.6BNIO FY2020: -$859.9MNIO FY2021: -$1.7BNIO FY2022: -$2.1BNIO FY2023: -$3BNIO FY2024: -$3.1BNIO FY2025: -$2.2BPCAR FY2018: $2.2BPCAR FY2019: $2.4BPCAR FY2020: $1.3BPCAR FY2021: $1.9BPCAR FY2022: $3BPCAR FY2023: $4.6BPCAR FY2024: $4.2BPCAR FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
NIO -$2.2BPCAR $2.4B
Net margin
NIO FY2018: -471.2%NIO FY2019: -145.9%NIO FY2020: -34.5%NIO FY2021: -29.3%NIO FY2022: -29.6%NIO FY2023: -38.0%NIO FY2024: -34.5%NIO FY2025: -17.8%PCAR FY2018: 9.3%PCAR FY2019: 9.3%PCAR FY2020: 6.9%PCAR FY2021: 7.9%PCAR FY2022: 10.4%PCAR FY2023: 13.1%PCAR FY2024: 12.4%PCAR FY2025: 8.4%FY18FY19FY20FY21FY22FY23FY24FY25
NIO -17.8%PCAR 8.4%
Revenue growth
NIO FY2019: +56.1%NIO FY2020: +121.7%NIO FY2021: +127.6%NIO FY2022: +26.0%NIO FY2023: +9.7%NIO FY2024: +15.0%NIO FY2025: +38.9%PCAR FY2019: +9.0%PCAR FY2020: -26.8%PCAR FY2021: +25.6%PCAR FY2022: +22.5%PCAR FY2023: +21.9%PCAR FY2024: -4.2%PCAR FY2025: -15.5%FY19FY20FY21FY22FY23FY24FY25
NIO +38.9%PCAR -15.5%
Free cash flow
NIO FY2019: -$1.5BNIO FY2020: $126.2MNIO FY2021: -$331.5MNIO FY2022: -$1.6BNIO FY2023: -$2.2BNIO FY2024: -$2.3BNIO FY2025: -$439.4MPCAR FY2018: $2.5BPCAR FY2019: $2.3BPCAR FY2020: $2.4BPCAR FY2021: $1.6BPCAR FY2022: $2.5BPCAR FY2023: $3.5BPCAR FY2024: $3.8BPCAR FY2025: $3.7BFY18FY19FY20FY21FY22FY23FY24FY25
NIO -$439.4MPCAR $3.7B

Fiscal years as each company reports them; the two may end in different months.

Questions about NIO and Paccar

Which is bigger by revenue, NIO or Paccar?

Paccar is bigger by revenue: $28.4B in fiscal 2025, against $12.5B for NIO in fiscal 2025.

Which keeps more of its revenue as profit, NIO or Paccar?

NIO had a net margin of -17.8% in fiscal 2025; Paccar had 8.4% in fiscal 2025.

Which grew revenue faster, NIO or Paccar?

In their latest fiscal years revenue changed by +38.9% at NIO and -15.5% at Paccar.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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