Volkswagen AG (VWAGY) closed fiscal year 2025 with a gross margin of 15.9 % and a net margin of 2.3 %.
Volkswagen AG (VWAGY) closed fiscal year 2025 with a gross margin of 15.9 % and a net margin of 2.3 %. The same year shows an EBITDA margin of 15.5 % and an EBIT margin of 3.9 %. The free cash flow margin was -2.9 %. Against the previous year the gross margin moved −2.4 pp and the net margin −1.2 pp. Across the period the gross margin ranges between 15.9 % in 2025 and 18.9 % in 2023. The series covers 4 fiscal years, from 2022 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Gross margin (%) | — | 18.92 % | 18.32 % | 15.92 % |
| EBITDA margin (%) | 18.71 % | 16.85 % | 15.89 % | 15.53 % |
| EBIT margin (%) | 8.50 % | 8.30 % | 6.24 % | 3.90 % |
| Net margin (%) | 5.54 % | 5.13 % | 3.50 % | 2.27 % |
| FCF margin (%) | 2.09 % | -2.00 % | -3.17 % | -2.90 % |
