Profit margins of companies producing battery technologies by country of company headquarters, 2015-2025

Sources

IEA analysis based on S&P Global (2025).

Notes

2025 values are estimated. Based on earnings before interest and tax (EBIT) margins, which measure operating profit as a share of revenue. Margins are weighted by revenue in each region to calculate the average for the rest of the world. Companies are categorised according to their regional headquarters. Covers publicly listed companies only. Includes companies representing 65% of the global market for batteries. Data for 2025 is up to June 2025.