Vestas Wind Systems A/S
VWS.CO · CPH
Financial statements
Annual and quarterly income, balance-sheet, cash-flow and key-statistics data.
Income statement
| Period | Revenue | Gross profit | Operating income | Net income | EPS |
|---|---|---|---|---|---|
| 2022 FY | 14.49B | 118.00M | -1.24B | -1.57B | -1.60 |
| 2023 FY | 15.38B | 1.28B | 292.00M | 77.00M | 0.08 |
| 2024 FY | 17.30B | 2.06B | 794.00M | 499.00M | 0.50 |
| 2025 FY | 18.82B | 2.50B | 1.07B | 778.00M | 0.78 |
Balance sheet
| Period | Total assets | Liabilities | Cash | Debt | Equity |
|---|---|---|---|---|---|
| 2022 FY | 20.09B | 17.03B | 2.35B | 2.43B | 3.04B |
| 2023 FY | 22.51B | 19.47B | 3.32B | 3.39B | 3.03B |
| 2024 FY | 24.62B | 21.10B | 3.81B | 3.27B | 3.53B |
| 2025 FY | 25.73B | 21.85B | 4.37B | 3.37B | 3.87B |
Cash flow
| Period | Operating cash flow | Capital expenditure | Free cash flow | Dividends paid | Net cash change |
|---|---|---|---|---|---|
| 2022 FY | -195.00M | -819.00M | -1.01B | -50.00M | -42.00M |
| 2023 FY | 1.03B | -892.00M | 135.00M | — | 940.00M |
| 2024 FY | 2.33B | -1.16B | 1.18B | — | 499.00M |
| 2025 FY | 2.30B | -819.72M | 1.48B | -74.00M | 567.00M |
Key statistics
| Period | Market cap | Enterprise value | P/E | Price / sales | Debt / equity |
|---|---|---|---|---|---|
| 2022 FY | 26.61B | 26.69B | — | — | — |
| 2023 FY | 28.90B | 28.97B | — | — | — |
| 2024 FY | 13.22B | 12.67B | — | — | — |
| 2025 FY | 23.16B | 22.17B | — | — | — |
Income statement
| Period | Revenue | Gross profit | Operating income | Net income | EPS |
|---|---|---|---|---|---|
| 2025 Q2 | 3.75B | 417.00M | 57.00M | 32.00M | 0.03 |
| 2025 Q3 | 5.34B | 772.00M | 416.00M | 302.00M | 0.28 |
| 2025 Q4 | 6.27B | 949.00M | 574.00M | 439.00M | 0.44 |
| 2026 Q1 | 3.97B | 471.00M | 127.00M | 82.00M | 0.08 |
Balance sheet
| Period | Total assets | Liabilities | Cash | Debt | Equity |
|---|---|---|---|---|---|
| 2025 Q2 | 25.55B | 22.43B | 3.03B | 3.36B | 3.11B |
| 2025 Q3 | 25.92B | 22.44B | 3.52B | 3.34B | 3.47B |
| 2025 Q4 | 25.73B | 21.85B | 4.37B | 3.37B | 3.87B |
| 2026 Q1 | 26.71B | 22.79B | 4.20B | 3.94B | 3.92B |
Cash flow
| Period | Operating cash flow | Capital expenditure | Free cash flow | Dividends paid | Net cash change |
|---|---|---|---|---|---|
| 2025 Q2 | 120.00M | -288.00M | -168.00M | -74.00M | -351.00M |
| 2025 Q3 | 840.00M | -274.00M | 566.00M | -9.16K | 476.00M |
| 2025 Q4 | 1.30B | -409.00M | 889.00M | -16.43K | 852.00M |
| 2026 Q1 | -289.00M | -198.00M | -487.00M | — | -170.00M |
Key statistics
| Period | Market cap | Enterprise value | P/E | Price / sales | Debt / equity |
|---|---|---|---|---|---|
| 2025 Q2 | 13.57B | 13.90B | — | — | — |
| 2025 Q3 | 17.11B | 16.92B | — | — | — |
| 2025 Q4 | 23.18B | 22.18B | — | — | — |
| 2026 Q1 | 26.08B | 25.83B | — | — | — |