Stellantis (STLA) swings to €22.3B 2025 loss and sees equity, cash flows decline
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Stellantis N.V. reports a sharp swing to a loss for 2025, with net revenues of
Operating income dropped from
Positive
- None.
Negative
- Profitability reversal: Net profit of
€5,520 million in 2024 turns into a net loss of€22,332 million in 2025, with operating income swinging to a loss of€26,254 million . - Weaker balance sheet: Equity falls from
€82,115 million to€54,001 million , while debt increases from€37,227 million to€45,947 million , reducing financial cushion. - Cash flow deterioration: Net cash from operating activities moves from an inflow of
€1,535 million in 2024 to an outflow of€4,650 million in 2025, pressuring liquidity despite year-end cash of€30,146 million .
Insights
Stellantis posts large 2025 loss, weaker equity and cash generation.
Stellantis moves from a
On the balance sheet, equity drops from
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 6-K
_______________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2026
Commission File No. 001-36675
_______________________________
STELLANTIS N.V.
(Translation of Registrant’s Name Into English)
_______________________________
Taurusavenue 1
2132 LS Hoofddorp
The Netherlands
Tel. No.: +31 23 700 1511
(Address of Principal Executive Offices)
_______________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): o
The following exhibit is furnished herewith:
Exhibit 99.1 Stellantis N.V. Supplemental Information as of and for the year ended December 31, 2025
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 26, 2026 | STELLANTIS N.V. | ||||||||||
By: | /s/ Joao Laranjo | ||||||||||
Name: Joao Laranjo | |||||||||||
Title: Chief Financial Officer | |||||||||||
Index of Exhibits
Exhibit
Number Description of Exhibit
99.1 Stellantis N.V. Supplemental Information as of and and for the year ended December 31, 2025
Exhibit 99.1
Income Statement by activity
Unaudited
| For the year ended December 31, 2025 | For the year ended December 31, 2024 | |||||||||||||||||||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
Net revenues | 153,508 | 150,227 | 3,725 | 156,878 | 155,024 | 2,046 | ||||||||||||||||||||||||||||||||
Cost of revenues | 155,627 | 152,615 | 3,456 | 136,360 | 134,924 | 1,628 | ||||||||||||||||||||||||||||||||
Selling, general and other costs | 8,967 | 8,638 | 329 | 9,299 | 9,023 | 276 | ||||||||||||||||||||||||||||||||
Research and development costs | 11,145 | 11,145 | — | 5,784 | 5,784 | — | ||||||||||||||||||||||||||||||||
Gains/(losses) on disposal of investments | (1,839) | (1,774) | (65) | (98) | (99) | 1 | ||||||||||||||||||||||||||||||||
Restructuring costs | 913 | 913 | — | 1,617 | 1,617 | — | ||||||||||||||||||||||||||||||||
| Share of the profit/(loss) of equity method investees | (1,271) | (1,284) | 13 | (33) | (413) | 380 | ||||||||||||||||||||||||||||||||
Operating income/(loss)(1) | (26,254) | (26,142) | (112) | 3,687 | 3,164 | 523 | ||||||||||||||||||||||||||||||||
Net financial expenses/(income) | 351 | 351 | — | (345) | (345) | — | ||||||||||||||||||||||||||||||||
Profit/(loss) before taxes | (26,605) | (26,493) | (112) | 4,032 | 3,509 | 523 | ||||||||||||||||||||||||||||||||
Tax expense/(benefit) | (4,273) | (4,082) | (191) | (1,488) | (1,309) | (179) | ||||||||||||||||||||||||||||||||
| Result from intersegment investments | — | 79 | — | — | 702 | — | ||||||||||||||||||||||||||||||||
Net profit/(loss) | (22,332) | (22,332) | 79 | 5,520 | 5,520 | 702 | ||||||||||||||||||||||||||||||||
Adjusted operating income/(loss)(1)(2) | (842) | (781) | (61) | 8,648 | 8,160 | 488 | ||||||||||||||||||||||||||||||||
______________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions
(1) Refer to the Stellantis N.V. Annual Report for the year ended December 31, 2025 - Non-GAAP Financial Measures
(2) The reconciliation of Net profit to Adjusted operating income for the Company is included in the Stellantis N.V. Annual Report for the year ended December 31, 2025 - Management discussion and analysis - Company results
Statement of Financial Position by activity
Unaudited
| At December 31, 2025 | At December 31, 2024 | |||||||||||||||||||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||||||
| Goodwill and intangible assets with indefinite useful lives | 29,176 | 29,046 | 130 | 31,986 | 31,841 | 145 | ||||||||||||||||||||||||||||||||
Other intangible assets | 15,709 | 15,540 | 169 | 22,379 | 22,174 | 205 | ||||||||||||||||||||||||||||||||
Property, plant and equipment | 42,958 | 32,108 | 10,850 | 45,011 | 38,644 | 6,367 | ||||||||||||||||||||||||||||||||
Equity method investments | 7,276 | 12,336 | 3,516 | 9,100 | 13,707 | 3,539 | ||||||||||||||||||||||||||||||||
Deferred tax assets | 6,383 | 6,297 | 86 | 4,371 | 4,329 | 42 | ||||||||||||||||||||||||||||||||
Inventories | 22,153 | 22,080 | 73 | 20,861 | 20,807 | 54 | ||||||||||||||||||||||||||||||||
| Assets sold with a buy-back commitment | 3,616 | 3,616 | — | 1,938 | 1,938 | — | ||||||||||||||||||||||||||||||||
| Trade receivables | 5,662 | 5,812 | 115 | 5,506 | 5,635 | 66 | ||||||||||||||||||||||||||||||||
| Tax receivables | 1,393 | 1,464 | 53 | 1,638 | 1,599 | 40 | ||||||||||||||||||||||||||||||||
| Other assets and prepaid expenses | 26,895 | 13,773 | 15,937 | 22,634 | 13,226 | 12,584 | ||||||||||||||||||||||||||||||||
| Financial assets | 3,781 | 3,235 | 546 | 7,166 | 6,367 | 810 | ||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 30,146 | 28,198 | 1,948 | 34,100 | 32,409 | 1,691 | ||||||||||||||||||||||||||||||||
| Assets held for sale | 5 | 5 | — | 917 | 756 | 161 | ||||||||||||||||||||||||||||||||
TOTAL ASSETS | 195,153 | 173,510 | 33,423 | 207,607 | 193,432 | 25,704 | ||||||||||||||||||||||||||||||||
| Equity and Liabilities | ||||||||||||||||||||||||||||||||||||||
| Equity | 54,001 | 54,001 | 8,576 | 82,115 | 82,115 | 8,146 | ||||||||||||||||||||||||||||||||
| Employee benefits liabilities | 5,312 | 5,308 | 4 | 6,024 | 6,023 | 1 | ||||||||||||||||||||||||||||||||
| Provisions | 32,913 | 32,809 | 104 | 23,080 | 22,992 | 92 | ||||||||||||||||||||||||||||||||
| Deferred tax liabilities | 1,294 | 874 | 420 | 4,507 | 3,627 | 880 | ||||||||||||||||||||||||||||||||
| Debt | 45,947 | 25,630 | 23,035 | 37,227 | 24,817 | 15,472 | ||||||||||||||||||||||||||||||||
| Trade payables | 29,999 | 30,082 | 211 | 29,684 | 29,770 | 152 | ||||||||||||||||||||||||||||||||
| Other financial liabilities | 36 | 19 | 17 | 24 | 13 | 11 | ||||||||||||||||||||||||||||||||
| Tax liabilities | 911 | 826 | 209 | 950 | 887 | 62 | ||||||||||||||||||||||||||||||||
| Other liabilities | 24,740 | 23,961 | 847 | 23,538 | 22,814 | 804 | ||||||||||||||||||||||||||||||||
| Liabilities held for sale | — | — | — | 458 | 374 | 84 | ||||||||||||||||||||||||||||||||
TOTAL EQUITY AND LIABILITIES | 195,153 | 173,510 | 33,423 | 207,607 | 193,432 | 25,704 | ||||||||||||||||||||||||||||||||
________________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions
Statement of Cash Flows by activity(1)
Unaudited
| For the year ended December 31, 2025 | For the year ended December 31, 2024 | |||||||||||||||||||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
Profit/(loss) before taxes (2) | (26,605) | (26,414) | (112) | 4,032 | 4,211 | 523 | ||||||||||||||||||||||||||||||||
Adjustments for non-cash items: | ||||||||||||||||||||||||||||||||||||||
| depreciation and amortization | 6,981 | 6,893 | 88 | 7,226 | 7,180 | 46 | ||||||||||||||||||||||||||||||||
| other non-cash items | 10,797 | 10,517 | 280 | (32) | (31) | (1) | ||||||||||||||||||||||||||||||||
| (gains)/losses on disposals | 1,757 | 1,692 | 65 | 46 | (275) | (381) | ||||||||||||||||||||||||||||||||
| share of the profit/(loss) of equity method investees | 1,271 | 1,205 | (13) | 1,927 | 1,705 | 222 | ||||||||||||||||||||||||||||||||
| Change in provisions and employee benefits liabilities | 11,330 | 11,329 | 1 | 1,779 | 1,790 | (11) | ||||||||||||||||||||||||||||||||
| Net change in receivables related to financial services activities | (4,867) | — | (4,867) | (3,455) | — | (3,455) | ||||||||||||||||||||||||||||||||
| Change in carrying amount of leased vehicles | (5,379) | 55 | (5,434) | (3,885) | 538 | (4,423) | ||||||||||||||||||||||||||||||||
| Dividends received | 276 | 513 | 196 | 335 | 118 | 221 | ||||||||||||||||||||||||||||||||
| Income tax received/(paid), net | (204) | (359) | 155 | (2,792) | (3,596) | 804 | ||||||||||||||||||||||||||||||||
Changes in working capital | (7) | (381) | 374 | (3,646) | (4,892) | 1,246 | ||||||||||||||||||||||||||||||||
| Net cash from/(used in) operating activities | (4,650) | 5,050 | (9,267) | 1,535 | 6,748 | (5,209) | ||||||||||||||||||||||||||||||||
| Proceeds from disposal of shares in consolidated companies and of investments in non-consolidated companies | 485 | 345 | 140 | 261 | (28) | 289 | ||||||||||||||||||||||||||||||||
| Acquisitions of consolidated subsidiaries and equity method and other investments | (425) | (1,116) | (170) | (1,652) | (2,376) | (2) | ||||||||||||||||||||||||||||||||
| Proceeds from disposals of property, plant and equipment and intangible assets | 229 | 229 | — | 365 | 365 | — | ||||||||||||||||||||||||||||||||
| Investments in property, plant and equipment and intangible assets | (7,987) | (7,935) | (52) | (11,060) | (10,984) | (76) | ||||||||||||||||||||||||||||||||
| Change in amounts payable on property, plant and equipment and intangible assets | (1,155) | (1,155) | — | 223 | 223 | — | ||||||||||||||||||||||||||||||||
| Changes in loans to joint ventures and associates | 91 | 44 | 47 | (696) | (696) | — | ||||||||||||||||||||||||||||||||
| Change in securities | 2,856 | 2,901 | (45) | 2,422 | 2,410 | 12 | ||||||||||||||||||||||||||||||||
| Other changes | 9 | 17 | (8) | 32 | (34) | 41 | ||||||||||||||||||||||||||||||||
| Net cash from/(used in) investing activities | (5,897) | (6,670) | (88) | (10,105) | (11,120) | 264 | ||||||||||||||||||||||||||||||||
| Distributions paid | (1,964) | (1,964) | (433) | (4,661) | (4,661) | (4) | ||||||||||||||||||||||||||||||||
| Proceeds from issuance of shares | 49 | 49 | 861 | 104 | 129 | 726 | ||||||||||||||||||||||||||||||||
| (Purchases)/sales of treasury shares | — | — | — | (3,000) | (3,000) | — | ||||||||||||||||||||||||||||||||
| Changes in debt and other financial assets and liabilities | 9,489 | 231 | 9,258 | 6,219 | 1,540 | 4,679 | ||||||||||||||||||||||||||||||||
| Other changes | — | — | — | (5) | (5) | — | ||||||||||||||||||||||||||||||||
| Net cash from/(used in) financing activities | 7,574 | (1,684) | 9,686 | (1,343) | (5,997) | 5,401 | ||||||||||||||||||||||||||||||||
| Effect of changes in exchange rates | (1,278) | (1,202) | (76) | 410 | 423 | (13) | ||||||||||||||||||||||||||||||||
| (Increase)/decrease in cash and cash equivalents included in asset held for sale | 297 | 295 | 2 | (66) | (64) | (2) | ||||||||||||||||||||||||||||||||
| Increase/(decrease) in cash and cash equivalents | (3,954) | (4,211) | 257 | (9,569) | (10,010) | 441 | ||||||||||||||||||||||||||||||||
| Net cash and cash equivalents at beginning of period | 34,100 | 32,409 | 1,691 | 43,669 | 42,419 | 1,250 | ||||||||||||||||||||||||||||||||
| NET CASH AND CASH EQUIVALENTS AT END OF PERIOD | 30,146 | 28,198 | 1,948 | 34,100 | 32,409 | 1,691 | ||||||||||||||||||||||||||||||||
________________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions
(1) Effective H1 2025, the Company has reclassified certain items in the Condensed Consolidated Statement of Cash Flows. These reclassifications were made to enhance the consistency and comparability of the financial disclosures. Refer to the Stellantis N.V. Annual Report for the twelve months ended December 31, 2025 - Note 2, Basis of preparation, for additional information. Comparative figures for December 2024 have been reclassified accordingly
(2) With the reclassification noted above, the starting point for the cash flows is Profit/(loss) before taxes, which for Industrial activities includes the Financial services results identified in the Income Statement as “Result of intersegment investments” of €79 million and €702 million for the twelve months ended December 31, 2025 and 2024, respectively. These amounts are adjusted in the line "Share of the profit/(loss) of equity method investees”
FAQ
How did Stellantis (STLA) perform financially in 2025?
Stellantis reported a net loss of €22,332 million for 2025, compared with a net profit of €5,520 million in 2024. Net revenues edged down to €153,508 million from €156,878 million, and operating income turned into a loss of €26,254 million.
What happened to Stellantis (STLA) operating and adjusted operating income in 2025?
Operating income fell sharply to a loss of €26,254 million in 2025 from a profit of €3,687 million in 2024. Adjusted operating income also weakened significantly, moving from €8,648 million in 2024 to a loss of €842 million in 2025.
How did Stellantis (STLA) cash flow from operations change in 2025?
Net cash from operating activities was an outflow of €4,650 million in 2025, versus an inflow of €1,535 million in 2024. This deterioration in operating cash generation coincided with the company’s swing from profit to a substantial net loss.
What is Stellantis (STLA) cash and debt position at the end of 2025?
At December 31, 2025, Stellantis had cash and cash equivalents of €30,146 million and total debt of €45,947 million. A year earlier, cash was €34,100 million and debt totaled €37,227 million, indicating higher leverage and lower cash balances.
How did Stellantis (STLA) equity and total assets change in 2025?
Total equity decreased to €54,001 million at December 31, 2025, from €82,115 million a year earlier. Total assets declined to €195,153 million from €207,607 million, reflecting the impact of the large net loss and other balance sheet changes.
Did Stellantis (STLA) generate or use cash in investing and financing in 2025?
In 2025, Stellantis used €5,897 million in net cash for investing activities, less than the €10,105 million used in 2024. Net cash from financing activities was an inflow of €7,574 million, compared with an outflow of €1,343 million in the prior year.
Filing Exhibits & Attachments
1 document
Stellantis N.V