The company's profitability has deteriorated significantly, with operating income plummeting to a $20.7 billion loss in 2025Q4 amid structural margin instability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 290.29B | 180.3B | 156.88B | 189.54B | 179.59B | 149.42B | 47.66B | 108.19B | 110.41B | 110.93B | 111.02B | 110.59B | 96.09B | 86.82B | 83.96B | 59.56B | 35.88B | 50.1B | 59.38B | 58.53B | 51.83B | 46.54B | 46.49B | 48.35B | 55.43B | 57.58B | 57.6B | 48.44B | 48.21B | 48.62B | 40.97B |
| Revenue Growth % | 25.89% | 14.93% | -17.23% | 5.54% | 20.19% | 213.54% | -55.95% | -2.02% | -0.47% | -0.08% | 0.38% | 15.1% | 10.68% | 3.41% | 40.96% | 66% | -28.39% | -15.62% | 1.45% | 12.92% | 11.36% | 0.12% | -3.84% | -12.78% | -3.73% | -0.05% | 18.92% | 0.48% | -0.85% | 18.66% | 2.24% |
| Cost of Goods Sold | 169.66B | 185.24B | 136.36B | 151.4B | 144.33B | 119.94B | 38.25B | 93.16B | 95.01B | 93.97B | 95.3B | 97.62B | 83.15B | 74.57B | 71.47B | 50.7B | 30.72B | 43.26B | 49.42B | 48.92B | 43.89B | 39.62B | 27.9B | 28.16B | 29.81B | 29.64B | 29.98B | 34.9B | 32.78B | 25.69B | 30.66B |
| COGS % of Revenue | - | 102.74% | 86.92% | 79.88% | 80.36% | 80.27% | 80.26% | 86.11% | 86.05% | 84.71% | 85.84% | 88.27% | 86.53% | 85.89% | 85.13% | 85.13% | 85.61% | 86.35% | 83.23% | 83.59% | 84.67% | 85.13% | 60.01% | 58.25% | 53.79% | 51.48% | 52.04% | 72.06% | 68% | 52.84% | 74.82% |
| Gross Profit | 40.46B | -4.95B | 20.52B | 38.14B | 35.27B | 29.48B | 9.41B | 15.02B | 15.4B | 16.96B | 15.72B | 12.97B | 12.94B | 12.25B | 12.48B | 8.86B | 5.16B | 6.84B | 9.96B | 9.61B | 7.94B | 6.92B | 18.59B | 20.19B | 25.61B | 27.94B | 27.63B | 13.53B | 15.42B | 22.93B | 10.32B |
| Gross Margin % | 13.94% | -2.74% | 13.08% | 20.12% | 19.64% | 19.73% | 19.74% | 13.89% | 13.95% | 15.29% | 14.16% | 11.73% | 13.47% | 14.11% | 14.87% | 14.87% | 14.39% | 13.65% | 16.77% | 16.41% | 15.33% | 14.87% | 39.99% | 41.75% | 46.21% | 48.52% | 47.96% | 27.94% | 32% | 47.16% | 25.18% |
| Gross Profit Growth % | - | -124.12% | -46.21% | 8.16% | 19.64% | 213.37% | -37.39% | -2.45% | -9.19% | 7.86% | 21.18% | 0.24% | 5.7% | -1.9% | 40.97% | 71.54% | -24.54% | -31.29% | 3.66% | 20.91% | 14.8% | -62.77% | -7.91% | -21.19% | -8.32% | 1.12% | 104.12% | -12.25% | -32.73% | 122.25% | -9.81% |
| Operating Expenses | 56.97B | 21.16B | 16.83B | 15.77B | 14.99B | 13.62B | 6.4B | 10.07B | 10.37B | 9.72B | 10.84B | 10.44B | 9.42B | 8.85B | 8.67B | 6.46B | 4.05B | 6.28B | 6.82B | 6.68B | 6.04B | 5.3B | 18.63B | 20.91B | 26.69B | 27.96B | 26.21B | 15.69B | 14.68B | 21.14B | 11.11B |
| OpEx % of Revenue | - | 11.74% | 10.73% | 8.32% | 8.35% | 9.11% | 13.42% | 9.31% | 9.39% | 8.76% | 9.77% | 9.44% | 9.81% | 10.2% | 10.33% | 10.85% | 11.29% | 12.53% | 11.49% | 11.42% | 11.65% | 11.4% | 40.08% | 43.26% | 48.16% | 48.56% | 45.51% | 32.39% | 30.45% | 43.49% | 27.12% |
| Selling, General & Admin | 14.6B | 10.53B | 9.3B | 9.54B | 8.98B | 9.13B | 5.5B | 6.46B | 7.32B | 7.38B | 7.57B | 7.73B | 7.08B | 6.69B | 6.73B | 5.05B | 2.96B | 4.3B | 5.08B | 4.92B | 4.7B | 4.58B | 14.74B | 16.93B | 21.96B | 23.18B | 21.82B | 13.33B | 12.37B | 18.52B | 8.61B |
| SG&A % of Revenue | - | 5.84% | 5.93% | 5.03% | 5% | 6.11% | 11.54% | 5.97% | 6.63% | 6.66% | 6.82% | 6.99% | 7.37% | 7.7% | 8.02% | 8.47% | 8.24% | 8.57% | 8.55% | 8.41% | 9.06% | 9.83% | 31.7% | 35.01% | 39.61% | 40.26% | 37.87% | 27.53% | 25.66% | 38.09% | 21.01% |
| Research & Development | 15.47B | 10.63B | 5.78B | 5.62B | 5.2B | 4.49B | 2.98B | 3.61B | 3.05B | 3.23B | 3.27B | 2.86B | 2.54B | 2.23B | 1.83B | 1.37B | 1.01B | 1.4B | 1.5B | 1.54B | 1.4B | 1.36B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 5.9% | 3.69% | 2.96% | 2.9% | 3% | 6.25% | 3.34% | 2.76% | 2.91% | 2.95% | 2.59% | 2.64% | 2.57% | 2.19% | 2.3% | 2.82% | 2.79% | 2.52% | 2.62% | 2.7% | 2.93% | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1.75B | 608M | 808M | -4M | -2.08B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9M | 162M | 31M | 0 | 898M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -25.33B | -22.22B | 3.69B | 22.38B | 20.28B | 15.86B | 3.01B | 5.19B | 5.27B | 7.64B | 5.14B | 3.03B | 3.87B | 3.69B | 4.16B | 2.85B | 1.81B | 698M | 3.3B | 4.2B | 1.75B | 4.65B | 1.16B | 604M | 398M | 1.79B | 3.07B | -2.16B | 745.4M | 1.78B | -797.04M |
| Operating Margin % | -8.73% | -12.33% | 2.35% | 11.81% | 11.29% | 10.62% | 6.32% | 4.8% | 4.78% | 6.89% | 4.63% | 2.74% | 4.02% | 4.24% | 4.96% | 4.79% | 5.04% | 1.39% | 5.56% | 7.17% | 3.37% | 9.98% | 2.49% | 1.25% | 0.72% | 3.12% | 5.33% | -4.45% | 1.55% | 3.67% | -1.95% |
| Operating Income Growth % | - | -702.73% | -83.52% | 10.36% | 27.82% | 427.01% | -42.03% | -1.54% | -31% | 48.65% | 69.67% | -21.62% | 4.91% | -11.5% | 45.95% | 57.8% | 159.03% | -78.84% | -21.38% | 140.18% | -62.41% | 301.99% | 91.39% | 51.76% | -77.81% | -41.53% | 242.33% | -389.18% | -58.22% | 323.82% | -154.51% |
| EBITDA | -15.79B | -15.24B | 10.91B | 29.93B | 24.63B | 21.73B | 4.38B | 10.64B | 10.78B | 13.53B | 11.1B | 8.44B | 8.76B | 8.26B | 8.3B | 6.21B | 3.99B | 3.37B | 6.2B | 6.93B | 4.72B | 7.24B | 3.32B | 2.87B | 3.01B | 4.67B | 6.12B | 199.75M | 3.05B | 4.41B | 1.71B |
| EBITDA Margin % | -5.44% | -8.45% | 6.96% | 15.79% | 13.71% | 14.55% | 9.18% | 9.83% | 9.76% | 12.2% | 10% | 7.64% | 9.12% | 9.51% | 9.88% | 10.43% | 11.13% | 6.73% | 10.44% | 11.85% | 9.1% | 15.55% | 7.15% | 5.94% | 5.43% | 8.12% | 10.62% | 0.41% | 6.33% | 9.07% | 4.17% |
| EBITDA Growth % | -158.97% | -239.67% | -63.53% | 21.5% | 13.32% | 396.78% | -58.87% | -1.33% | -20.34% | 21.94% | 31.42% | -3.64% | 6.1% | -0.47% | 33.6% | 55.51% | 18.48% | -45.63% | -10.59% | 47.03% | -34.83% | 117.72% | 15.7% | -4.61% | -35.56% | -23.63% | 2963.8% | -93.46% | -30.75% | 157.97% | -51.6% |
| D&A (Non-Cash Add-back) | 9.54B | 6.98B | 7.23B | 7.55B | 4.35B | 5.87B | 1.36B | 5.45B | 5.51B | 5.89B | 5.96B | 5.41B | 4.9B | 4.57B | 4.13B | 3.36B | 2.19B | 2.67B | 2.9B | 2.74B | 2.97B | 2.59B | 2.17B | 2.27B | 2.61B | 2.88B | 3.05B | 2.36B | 2.31B | 2.62B | 2.51B |
| EBIT | -24.2B | -22.22B | 5.55B | 23.75B | 21B | 15.9B | 3.39B | 4.96B | 5.07B | 9.07B | 6.56B | 5.36B | 5.84B | 5.43B | 5.92B | 5.51B | 2.89B | 1.01B | 4.24B | 5.96B | 1.75B | 6.55B | 1.01B | 3.51B | 534M | 3.58B | 4.7B | -2.16B | 745.4M | 1.78B | -797.04M |
| Net Interest Income | -133.54M | -63.42M | 472M | 1.35B | -119M | -296M | -725M | -676M | -708M | -1.07B | -1.34B | -2.37B | -2.05B | -1.96B | -1.64B | -1B | -410M | -753M | -947M | -279M | 0 | -351M | -1.94B | -2.49B | -3.05B | -3.13B | -2.65B | 0 | 0 | 0 | 0 |
| Interest Income | 1.81B | 1.43B | 2B | 2.68B | 1.07B | 188M | 117M | 261M | 249M | 182M | 226M | 365M | 229M | 204M | 256M | 587M | 684M | 0 | 0 | 1.3B | 0 | 1.34B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.95B | 1.49B | 1.52B | 1.33B | 1.19B | 484M | 842M | 937M | 957M | 1.25B | 1.57B | 2.73B | 2.28B | 2.17B | 1.9B | 1.59B | 1.09B | 753M | 947M | 1.58B | 0 | 1.7B | 1.94B | 2.49B | 3.05B | 3.13B | 2.65B | 0 | 0 | 0 | 0 |
| Other Income/Expense | -3.27B | -5.14B | 345M | 42M | -748M | -734M | -168M | -1.17B | -1.17B | -1.48B | -2.04B | -2.28B | -2.69B | -2.68B | -2.13B | -668M | -1.1B | -932M | -1.11B | -1.42B | -106M | -2.38B | -1.53B | -1.9B | -5.21B | -476M | -363M | 3.03B | 400.84M | 66.91M | 2.61B |
| Pretax Income | -28.6B | -31.25B | 4.03B | 22.42B | 19.53B | 15.13B | 2.84B | 4.02B | 4.11B | 6.16B | 3.11B | 259M | 1.18B | 1.01B | 2.04B | 2.19B | 706M | -367M | 2.19B | 2.77B | 1.64B | 2.26B | -1.58B | -1.3B | -4.82B | -497M | 1.05B | 871.55M | 1.15B | 1.85B | 1.81B |
| Pretax Margin % | -9.85% | -17.33% | 2.57% | 11.83% | 10.87% | 10.13% | 5.96% | 3.72% | 3.72% | 5.55% | 2.8% | 0.23% | 1.22% | 1.16% | 2.43% | 3.67% | 1.97% | -0.73% | 3.68% | 4.74% | 3.17% | 4.86% | -3.39% | -2.68% | -8.69% | -0.86% | 1.82% | 1.8% | 2.38% | 3.81% | 4.42% |
| Income Tax | -6.91B | 4.27B | -1.49B | 3.79B | 2.73B | 1.91B | 504M | 1.32B | 778M | 2.65B | 1.29B | 166M | 544M | -943M | 625M | 534M | 484M | 481M | 466M | 719M | 490M | 844M | -29M | 650M | -554M | 294M | 472M | 517.76M | 525.66M | 607.18M | 558.41M |
| Effective Tax Rate % | 24.18% | -13.67% | -36.9% | 16.92% | 13.97% | 12.63% | 17.73% | 32.85% | 18.94% | 43.03% | 41.6% | 64.09% | 46.26% | -93.55% | 30.7% | 24.44% | 68.56% | -131.06% | 21.31% | 25.93% | 29.86% | 37.28% | 1.84% | -50.08% | 11.5% | -59.15% | 44.95% | 59.41% | 45.86% | 32.81% | 30.81% |
| Net Income | -1.22B | -26.27B | 5.47B | 18.6B | 16.8B | 14.2B | 29M | 2.7B | 3.61B | 3.49B | 1.8B | 334M | 568M | 904M | 348M | 1.33B | 520M | -838M | 1.61B | 1.95B | 1.06B | 1.33B | -1.59B | -1.9B | -3.95B | -445M | 664M | 353.79M | 620.57M | 1.24B | 1.25B |
| Net Margin % | -0.42% | -14.57% | 3.49% | 9.81% | 9.35% | 9.5% | 0.06% | 2.5% | 3.27% | 3.15% | 1.62% | 0.3% | 0.59% | 1.04% | 0.41% | 2.24% | 1.45% | -1.67% | 2.71% | 3.34% | 2.05% | 2.86% | -3.41% | -3.93% | -7.12% | -0.77% | 1.15% | 0.73% | 1.29% | 2.56% | 3.06% |
| Net Income Growth % | -107.62% | -580.02% | -70.57% | 10.7% | 18.3% | 48865.52% | -98.93% | -25.17% | 3.35% | 93.62% | 439.82% | -41.2% | -37.17% | 159.77% | -73.91% | 156.54% | 162.05% | -151.99% | -17.46% | 83.38% | -19.98% | 183.92% | 16.53% | 51.87% | -787.19% | -167.02% | 87.68% | -42.99% | -50.1% | -0.84% | 18.7% |
| Net Income (Continuing) | -1.24B | -26.23B | 5.52B | 18.63B | 16.8B | 13.22B | 2.34B | 2.7B | 3.61B | 3.49B | 1.8B | 334M | 568M | 904M | 348M | 1.33B | 520M | -838M | 1.61B | 1.95B | 1.06B | 1.33B | -1.59B | -1.9B | -3.95B | -445M | 664M | 353.79M | 620.57M | 1.24B | 1.25B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 990M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 418M | 450M | 423M | 427M | 383M | 400M | 124M | 138M | 201M | 168M | 185M | 163M | 313M | 4.26B | 4.11B | 3.53B | 917M | 814M | 747M | 673M | 674M | 732M | 658M | 701M | 1.04B | 1.44B | 1.89B | 1.89B | 2.12B | 2.25B | 2.03B |
| EPS (Diluted) | -0.44 | -7.75 | 1.84 | 5.94 | 5.31 | 4.51 | 0.02 | 1.72 | 2.30 | 2.24 | 1.18 | 0.22 | 0.46 | 0.74 | 0.28 | 1.06 | 0.41 | -0.68 | 1.28 | 1.53 | 0.79 | 1.25 | -1.62 | -2.52 | -6.95 | -0.82 | 1.21 | 0.62 | 1.12 | 3.85 | 3.41 |
| EPS Growth % | -235.28% | -521.2% | -69.02% | 11.86% | 17.74% | 22450% | -98.84% | -25.22% | 2.68% | 89.83% | 436.36% | -52.17% | -37.84% | 164.29% | -73.58% | 158.54% | 160.29% | -153.13% | -16.34% | 93.67% | -36.8% | 177.16% | 35.71% | 63.74% | -747.56% | -167.77% | 95.16% | -44.64% | -70.91% | 12.9% | 774.36% |
| EPS (Basic) | - | -7.75 | 1.86 | 5.98 | 5.35 | 4.64 | 0.02 | 1.73 | 2.30 | 2.27 | 1.19 | 0.22 | 0.47 | 0.74 | 0.29 | 1.07 | 0.41 | -0.68 | 1.29 | 1.54 | 0.79 | 1.25 | -1.62 | -2.52 | -6.98 | -0.82 | 1.21 | 0.62 | 1.12 | 3.85 | 3.41 |
| Diluted Shares Outstanding | 2.79B | 2.89B | 2.98B | 3.13B | 3.16B | 3.15B | 1.58B | 1.57B | 1.57B | 1.56B | 1.53B | 1.51B | 1.23B | 1.23B | 1.23B | 1.25B | 1.24B | 1.24B | 1.24B | 1.27B | 1.27B | 1.06B | 979.15M | 753M | 568.17M | 542M | 554.42M | 546M | 555.57M | 322.64M | 368.16M |
| Basic Shares Outstanding | 2.79B | 2.89B | 2.95B | 3.11B | 3.14B | 3.06B | 1.57B | 1.56B | 1.55B | 1.54B | 1.51B | 1.51B | 1.22B | 1.22B | 1.22B | 1.24B | 1.24B | 1.24B | 1.24B | 1.26B | 1.27B | 1.06B | 979M | 753M | 566M | 542M | 554.42M | 546M | 555.57M | 322.64M | 368.16M |
| Dividend Payout Ratio | - | - | 84.98% | 22.63% | 19.96% | 29.61% | - | 113.19% | 0.03% | 0.03% | 1% | 84.73% | 2.64% | 0.11% | 16.67% | 13.57% | 45.96% | - | 33.87% | 15.87% | 2.16% | 2.18% | - | - | - | - | 53.01% | 98.88% | 56.61% | 21.48% | 21.65% |
North American inventory overhang
As reported in recent financial filings, Stellantis experienced extreme revenue volatility, including a 97.4% surge in 2025Q4 followed by significant quarterly fluctuations, suggesting that the company's top-line trajectory is currently driven more by accounting adjustments and inventory management than by consistent organic demand for its vehicle portfolio.
The erratic revenue patterns indicate that the company is struggling to align wholesale shipments with actual retail demand, particularly in the North American market. Investors should monitor whether these swings represent a structural inability to maintain consistent volume or merely temporary timing differences in dealer inventory stocking.
Based on the provided income statement data, the company's gross margin collapsed to -5.7% in 2025Q4, a stark departure from historical norms that highlights the severe impact of aggressive incentive spending and potential inventory write-downs required to clear stagnant vehicle stock from the dealer channel.
The shift from double-digit gross margins to negative territory suggests that the company's pricing power has been severely compromised. This deterioration implies that the core Jeep and Ram profit engines are no longer providing the necessary subsidy to support the broader, lower-margin European mass-market brand portfolio.
According to the company's recent income statements, operating income plummeted to a loss of $20.7 billion in 2025Q4, demonstrating that the firm's high fixed-cost structure has become a significant liability during periods of declining retail demand and elevated operational expenses across its global manufacturing footprint.
The inability to scale operating income alongside revenue suggests that the company's platform-sharing strategy is currently failing to deliver the expected cost-absorption benefits. This indicates that management may need to aggressively rationalize its 14-brand portfolio to prevent further erosion of operating efficiency in a high-interest-rate environment.
As indicated by the widening gap between wholesale shipments and retail registrations, the company's reliance on dealer channel stuffing appears unsustainable, raising significant concerns that future production cuts will be required to normalize inventory levels and restore profitability to the North American segment of the business.
Short-sellers would likely focus on the disconnect between the company's reported revenue and the underlying health of its dealer network. The current margin profile suggests that the company is sacrificing long-term brand equity for short-term volume, which may lead to further earnings disappointments if incentive spending remains elevated.
Quick answers to the most common questions about buying STLA stock.
For fiscal year 2025, Stellantis N.V. (STLA) reported total revenue of $180.30B. This represents a 340.1% increase compared to $40.97B in 1996.
Stellantis N.V. (STLA) reported a net loss of $26.27B for the fiscal year ending 2025.
Stellantis N.V. (STLA) reported an operating income of $-22222.7M, resulting in an operating profit margin of -12.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Stellantis N.V. (STLA) generated $-4948.2M in gross profit for the year, representing a gross profit margin of -2.7%. This demonstrates the company's core pricing power and production efficiency.