Reference market
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- Next holiday
- Nov 26, 2026 · Thanksgiving Day
Equity · Consumer cyclical
Tesla Inc. (TSLA) perpetual futures
TSLA perpetual futures on 32 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TSLAUSDT.
Tesla manufactures and sells electric vehicles globally, alongside energy generation and storage solutions for residential, commercial, and utility customers.
$389.87-0.2%NASDAQ open
Price chart
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TradingView symbol NASDAQ:TSLA
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Trading data
Perpetual market activity
32/32 live markets
Trading data
Perpetual market activity
Venues
32
Live markets
32/32
24h volume
$474MCoverage: 26/32 marketsExchange-reported volume: $722.1M
Open interest
$167.7MCoverage: 28/32 markets
Best liquidity
$22.6M
MEXC
Tightest spread
+0.3 bps
Extended
Highest volume
$244.8M
Binance
Settlement mix
USDT · 18/32
Perp/spot vol.
0.04x
Spot volume $11.2B
OI / float
+0.02%
Float $1.1T
Spot performance
1D+1.69%
5D+13.91%
1M+5.14%
6M-8.31%
YTD-11.62%
1Y-7.70%
Venue matrix
32 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | TSLA/USDT | Trading | $389.77 | 0.0% APR 0.000% every 8h | +0.3 bps | - | $244.8M | $57.5M | USDT | - | |
 Hyperliquid HIP-3 | Trade | xyz:TSLA | Trading | $389.35 | +5.5% APR +0.00063% every 1h | +1.3 bps | - | $91M | $42.7M | USDC | 20x | |
 Bybit | Trade | TSLA/USDT | Trading | $389.65 | 0.0% APR 0.000% every 8h | +0.3 bps | $3.1M | $31.1M | $12.9M | USDT | 100x | |
 OKX | Trade | TSLA/USDT | Trading | $389.67 | 0.0% APR 0.000% every 8h | +0.8 bps | $2.7M | $30.1M | $14.2M | USDT | 20x | |
 Bitget | Trade | TSLA/USDT | Trading | $389.69 | 0.0% APR 0.000% every 8h | +0.5 bps | - | $28M | $10.1M | USDT | 100x | |
 KuCoin | Trade | TSLA/USDT | Trading | $389.68 | 0.0% APR 0.000% every 8h | +10.3 bps | $82.4K | $11.4M | $4.3M | USDT | 20x | |
 Lighter | Trade | TSLA | Trading | $389.41 | +3.5% APR +0.00040% every 1h | +0.8 bps | $1.9M | $11.4M | $3.3M | USDC | - | |
 Gate.io | Trade | TSLA/USDT | Trading | $389.74 | 0.0% APR 0.000% every 8h | +3.3 bps | $1.3M | $7.9M | $9.3M | USDT | 100x | |
 Deribit | Trade | TSLA/USDC | Trading | $389.47 | +1.0% APR +0.00094% every 8h | +2.3 bps | $1.9M | $3.2M | $515.7K | USDC | 10x | |
 GRVT | Trade | TSLA/USDT | Trading | $389.84 | 0.0% APR 0.000% every 8h | +2.6 bps | $281.4K | $2.8M | $882.3K | USDT | - | |
 Aster | Trade | TSLAUSDT | Trading | $389.82 | 0.0% APR 0.000% every 8h | +0.3 bps | $370.3K | $1.7M | $904.1K | USDT | - | |
 Kraken | Trade | PF_TSLAXUSD | Trading | $389.32 | +41.3% APR +0.00472% every 1h | +6.4 bps | $1.3M | $1.1M | $620.1K | USD | - | |
 Phemex | Trade | TSLA / USDT | Trading | $389.76 | 0.0% APR 0.000% every 4h | +0.5 bps | $5.3M | $886.5K | $905.9K | USDT | 10x | |
 BloFin | Trade | TSLA/USDT | Trading | $389.92 | 0.0% APR 0.000% every 8h | +1.5 bps | - | $707.4K | $1.2M | USDT | 20x | |
 Backpack | Trade | TSLA/USDC | Trading | $389.34 | +5.5% APR +0.00063% every 1h | +0.3 bps | $243.4K | $591.8K | $140.9K | USDC | 10x | |
 Crypto.com Exchange | Trade | TSLA/USD | Trading | $389.44 | +32.4% APR +0.00369% every 1h | +1.0 bps | $189.5K | $269K | $220.1K | USD | 50x | |
 Orderly Network | Trade | TSLA/USDC | Trading | $389.46 | +11.0% APR +0.010% every 8h | - | no public depth feed | $215.5K | $27.1K | USDC | - | |
 HTX | Trade | TSLAX/USDT | Trading | $389.64 | 0.0% APR 0.000% every 8h | +21.1 bps | $1.2M | $180.5K | $166K | USDT | - | |
 Extended | Trade | TSLA/USD | Trading | $389.50 | 0.0% APR 0.000% every 1h | +0.3 bps | - | $170.8K | $327.1K | USD | 10x | |
 Helix (Injective) | Trade | TSLA/USDC | Trading | $389.42 | -11.9% APR -0.00136% every 1h | +62.6 bps | $98.1K | $81.2K | - | USDC | 30x | |
 Vest | Trade | TSLA/USDC | Trading | $389.38 | +5.0% APR +0.00057% every 1h | +6.2 bps | - | $69.2K | - | USDC | 25x | |
 Pacifica | Trade | TSLA/USDC | Trading | $389.34 | +11.0% APR +0.00125% every 1h | +1.8 bps | - | $55.5K | $411.4K | USDC | 10x | |
 Aevo | Trade | TSLA/USDC | Trading | $389.59 | +11.4% APR +0.00130% every 1h | +15.3 bps | $205.9K | $0 | $942.8 | USDC | 10x | |
 Paradex | Trade | TSLA/USD | Trading | $389.47 | +5.5% APR +0.00499% every 8h | +13,297.8 bps | $0 | $0 | $0 | USDC | 5x | |
 BingX | Trade | TSLA-USDT | Trading | $389.81 | +5.5% APR +0.00500% every 8h | +0.5 bps | $8M | $3.7M | - | USDT | - | |
 XT.com | Trade | TSLAX/USDT | Trading | $389.93 | 0.0% APR 0.000% every 8h | +0.5 bps | $1.5M | $2.5M | - | USDT | 20x | |
 Deepcoin | Trade | TSLA/USDT | Trading | $389.88 | - | +0.3 bps | - | $86.5M⚠ | $25.1K | USDT | 25x | |
 MEXC | Trade | TSLA/USDT | Trading | $389.87 | 0.0% APR 0.000% every 8h | +1.5 bps | $22.6M | $70.2M⚠ | $4.6M | USDT | 100x | |
 LBank | Trade | TSLA/USDT | Trading | $389.78 | 0.0% APR 0.000% every 8h | +0.8 bps | $13.2M | $35.4M⚠ | $258.4K | USDT | 50x | |
 Ourbit | Trade | TSLA/USDT | Trading | $389.81 | 0.0% APR 0.000% every 8h | +0.5 bps | $6.5M | $31.7M⚠ | $130.5K | USDT | 100x | |
 Bitunix | Trade | TSLA/USDT | Trading | $389.87 | -17.8% APR -0.016% every 8h | +0.3 bps | $11.5M | $14.5M⚠ | $1.1M | USDT | 50x | |
 Ondo Perps | Trade | TSLA/USD | Trading | $389.28 | - | +7.7 bps | $2.8M | $9.8M⚠ | $822.4K | USDC | 10x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| TSLAXxStocks | $387.49 | -0.61% | $22.3M | $69.0M | Solana · Arbitrum · BNB Smart Chain (BEP20) · Ethereum |
| TSLABbStocks | $387.93 | -0.50% | $12.3M | $18.0M | BNB Smart Chain (BEP20) |
| TSLAonOndo GM | $387.78 | -0.54% | $6.4M | $23.4M | Ethereum · BNB Smart Chain (BEP20) · Solana · HyperEVM |
| WTSLAXxStocks | $388.38 | -0.38% | $1.5M | $855k | X Layer · Arbitrum |
| TSLARobinhood | $388.54 | -0.34% | $935k | $4.3M | Robinhood Chain |
| rTSLATokenized | $396.15 | +1.61% | $333k | $2.4M | Arbitrum |
| TSLATokenized | $201.96 | – | – | $4k | HyperEVM · Hyperliquid |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 raydiumDEX · solana | TSLAx/USDC ↗ | $388.01 | $2.5M | $2.3M |
 pancakeswapDEX · bsc | TSLAB/USDT ↗ | $388.44 | $1.4M | $1.0M |
 uniswapDEX · robinhood | TSLA/SPY ↗ | $388.54 | $935k | $252k |
 communityV3DEX · ethereum | TSLAon/USDC ↗ | $394.63 | $641k | $6.0M |
| bybitCEX | TSLAX/USDT ↗ | $387.83 | $392k | – |
| gateioCEX | TSLAON/USDT ↗ | $387.86 | $321k | – |
| gateioCEX | TSLAX/USDT ↗ | $387.43 | $282k | – |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 23 of 32 venues absorb $10k · Typical cost: +6.1 bps – +9.4 bps
Cheapest execution: Lighter · +0.7 bps
No fresh book data: Binance, Hyperliquid HIP-3, Bitget, BloFin, Orderly Network, Extended, Vest, Pacifica, Paradex
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
TSLATightest spread
TSLAHighest volume
TSLAFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-01-27
Revenue est. $28.6B · Updated 4h ago
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid388.57
Ask410.5
Volume14,286,443
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20261.68$107.5B+13%24
FY 20272.02$121.8B+13%24
FY 20282.85$144.5B+19%21
FY 20295.76$200.2B+39%9
FY 20308.50$249B+24%9
Q1 20291.06$40.8B+82%3
Source: FMP · Consensus
Company events
62027-01-27EarningsActual - / Estimate 0.51-
2026-10-21Earnings · After market closeActual 0.48 / Estimate 0.449Beat
2026-07-22EarningsActual 0.33 / Estimate 0.533Miss
2026-04-22EarningsActual 0.41 / Estimate 0.354Beat
2026-01-28EarningsActual 0.5 / Estimate 0.455Beat
2025-10-22EarningsActual 0.5 / Estimate 0.558Miss
Peer comparison
Similar listed perpsRevenue mix
Latest annualUNITED STATESGeographic$47.6B
Other CountriesGeographic$26.2B
CHINAGeographic$21B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $442.59 |
| 12-month target range (low – high) | $157 – $840 |
| Ratings in the provider's consensus | 83 |
Price targets as of 2026-11-12
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 6 | 15 | 22 | 2 | 0 |
| Oct 2026 | 5 | 15 | 23 | 2 | 2 |
| Sep 2026 | 6 | 16 | 21 | 3 | 2 |
| Aug 2026 | 6 | 17 | 20 | 4 | 2 |
| Jul 2026 | 6 | 18 | 19 | 4 | 2 |
| Jun 2026 | 5 | 18 | 19 | 4 | 3 |
| May 2026 | 5 | 18 | 18 | 4 | 3 |
| Apr 2026 | 5 | 18 | 18 | 6 | 3 |
| Mar 2026 | 5 | 18 | 17 | 6 | 2 |
| Feb 2026 | 4 | 17 | 18 | 6 | 2 |
| Jan 2026 | 4 | 17 | 18 | 7 | 3 |
| Dec 2025 | 5 | 16 | 18 | 7 | 3 |
Ownership
Institutional · 2026-Q3Free float71.4%2.8B shares
Shares outstanding4B shares
Institutional24.4%3,495 investors
Investor count change-1,140
Reference market activity
TSLA-PERPDay range (Nov 12)$385.2$401.17
52 week$297.38$498.83
Spot volume28.8M
Average volume-
Price performance
111D+1.7%
5D+13.9%
1M+5.1%
3M+21.4%
6M-8.3%
YTD-11.6%
1Y-7.7%
3Y+77.7%
5Y+15.4%
10Y+3,184.7%
MAX+24,896.9%
Insider activity
FY2026 Q3Acquisitions1 transactions6,539 shares
Dispositions2 transactions9,145 shares
Purchases0Ratio 0.5
Sales1
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Tesla CFO Taneja Vaibhav converted 6,539 restricted stock units into 6,539 common shares via an exempt option/RSU exercise on 2026-09-05, then sold 2,606 common shares at $360.134 on 2026-09-08, leaving 25,972 shares.
Elon Musk exercised options on 303,960,630 shares at $23.34 (option converted into common stock), then had 17,531,857 shares withheld to cover taxes at $404.66. This was an option exercise, not an open-market purchase or sale.
Tesla CFO Vaibhav Taneja converted 6,538 RSUs into 6,538 common shares, then sold 2,606 shares at $402.20.
Tesla CFO Vaibhav Taneja exercised stock options for 3,000 shares at $18.22-$18.44, converting them into 3,000 common shares, then sold those 3,000 shares at $450 each.
Tesla director Wilson-Thompson Kathleen exercised 40,948 options (M) at $14.99 and sold 13,638 common shares (S) across 10 trades at $369.01-$378.573 on 2026-04-30.
Filings
55 · Latest SEC filings2026-09-094Insider transaction report (Form 4)
Tesla CFO Taneja Vaibhav converted 6,539 restricted stock units into 6,539 common shares via an exempt option/RSU exercise on 2026-09-05, then sold 2,606 common shares at $360.134 on 2026-09-08, leaving 25,972 shares.
2026-06-174Insider transaction report (Form 4)
Elon Musk exercised options on 303,960,630 shares at $23.34 (option converted into common stock), then had 17,531,857 shares withheld to cover taxes at $404.66. This was an option exercise, not an open-market purchase or sale.
2026-06-094Insider transaction report (Form 4)
Tesla CFO Vaibhav Taneja converted 6,538 RSUs into 6,538 common shares, then sold 2,606 shares at $402.20.
2026-05-154Insider transaction report (Form 4)
Tesla CFO Vaibhav Taneja exercised stock options for 3,000 shares at $18.22-$18.44, converting them into 3,000 common shares, then sold those 3,000 shares at $450 each.
2026-05-044Insider transaction report (Form 4)
Tesla director Wilson-Thompson Kathleen exercised 40,948 options (M) at $14.99 and sold 13,638 common shares (S) across 10 trades at $369.01-$378.573 on 2026-04-30.
2026-04-234Insider transaction report (Form 4)
Elon Musk returned 96M shares of Tesla common stock to the company on 2026-04-21, leaving him with about 423.7M shares owned afterward.
2026-04-024Insider transaction report (Form 4)
Tesla SVP Zhu Xiaotong exercised options to convert 20,000 non-qualified stock options into 20,000 common shares at $20.57 each.
2026-04-014Insider transaction report (Form 4)
Director Kathleen Wilson-Thompson exercised options for 40,000 Tesla shares at $14.99 each, then sold 25,809 shares across 15 trades at prices from $352.83 to $366.86.
2026-03-094Insider transaction report (Form 4)
Tesla CFO Vaibhav Taneja converted 6,538 RSUs into 6,538 common shares, then sold 2,265 of those shares on the open market at $397.03 each.
2026-02-274Insider transaction report (Form 4)
Kathleen Wilson-Thompson exercised options on 40,000 shares at $14.99, converting them into 40,000 common shares, then sold 25,731 shares at $412.46-$418.888. She retained 19,669 shares afterward.
2026-01-124Insider transaction report (Form 4)
Tesla SVP Zhu Xiaotong was granted stock options to buy 520,021 shares at $435.8 on 2026-01-08, per an SEC Form 4 filing. This is a compensation award, not an open-market purchase.
2026-01-064Insider transaction report (Form 4)
Tesla director James R. Murdoch sold 60,000 common shares in 22 open-market transactions at prices ranging from $435.87 to $457.88 per share.
2025-12-314Insider transaction report (Form 4)
Elon Musk gifted 210,699 Tesla shares on 2025-12-30, reducing his holdings to 413,152,109 shares.
2025-12-114Insider transaction report (Form 4)
Director Kimbal Musk disposed of 56,820 shares via open-market sale and gifted 15,242 shares, reducing his total holdings to 1,376,373 shares.
2025-12-094Insider transaction report (Form 4)
Tesla CFO Vaibhav Taneja converted 6,538 RSUs into common stock and sold 2,637 shares at $443.93 each.
2025-11-124Insider transaction report (Form 4)
Director Kimbal Musk gifted 14,785 Tesla common shares on 2025-11-10, leaving 1,448,435 owned.
Transcripts
Earnings callsFY2026 Q32026-10-21
Earnings calls
AI summary
positiveTesla reported a strong Q3 FY2026, with two consecutive quarters of vehicle deliveries above 480,000 and its highest backlog in four years, constrained primarily by production. Management said FSD is the key demand driver, with over 75% of North America deliveries including a paid FSD subscription sign-up and over 1.7 million paid FSD customers globally. Automotive gross margin excluding credits rose sequentially to 18.1% from 16.3%. Energy storage deployed 13.7 GWh with gross margin of 33.1%, aided by tariff refunds and warranty true-downs. Services and other margin reached an all-time high of 15.9%. Tesla ended the quarter with over $1.5 billion of positive free cash flow and over $45 billion in cash and investments. Executives outlined ramps for Cybercab Robotaxi service, Optimus, the Tesla Semi, the Terafab semiconductor fab and a target of roughly 5 million vehicles per year by about 2030.
Key takeaways
- Demand exceeds production by a significant margin; Tesla exited Q3 with its highest backlog in four years, with deliveries constrained primarily by production.
- FSD is described as the biggest demand driver: over 75% of North America deliveries included a paid FSD subscription sign-up, about 20% higher than Q2, and paid FSD customers exceeded 1.7 million globally, half on subscriptions.
- Cybercab production started and the Austin Cybercab fleet grew tenfold since launch about a month ago; unsupervised Robotaxi miles grew 8x in the quarter with double-digit weekly growth.
- Optimus is in early production on the high-volume line in Fremont, but management expects at least about a year, and possibly longer, to reach an annualized rate of 20,000 units per week.
- Tesla aims for approximately 5 million vehicles per year by about 2030 and is expanding capacity, including permits for Berlin expansion and a new Semi factory in Reno.
Financial highlights
- Vehicle deliveries exceeded 480,000 for the second consecutive quarter.
- Automotive gross margin excluding credits rose sequentially from 16.3% to 18.1%, driven by a higher APAC delivery mix.
- Energy storage deployments were 13.7 GWh, the second-best quarter, with energy gross margin improving from 20.4% to 33.1%, helped by tariff refunds and warranty true-downs.
- Services and other margin improved sequentially from 14.1% to 15.9%, an all-time high; free cash flow was over $1.5 billion and cash and investments exceeded $45 billion.
Guidance
- CapEx guidance revised to approximately $20 billion for the current year, to be funded primarily from cash flows from operations.
- Tesla secured capacity to borrow up to $30 billion to support expected CapEx growth and does not plan draws under the new facilities this calendar year.
- FSD unsupervised in customer cars: Ashok Elluswamy said around Q2 next year is when some first customer vehicles could be turned on as part of the Robotaxi fleet.
- Optimus deliveries to companies outside Tesla expected around the end of next year; Cybercab delivery to customers targeted by the end of 2026, starting small.
Q&A themes
- Robotaxi scaling: expansion from Austin to Dallas next month, plans for other cities by year-end, and software-driven limits on 24/7 operation and higher-speed roads before broader regulatory expansion.
- Optimus production and design: hands as the most challenging hardware area, AI5 chip integration expected around April next year, and self-play training through an Optimus Academy.
- FSD competition and pricing: management argued competitors face a long-tail problem and that Tesla retains a technology lead, including in China where approvals are being pursued.
- Terafab and capital: capital expected in the tens of billions through early 2028 and potentially north of $100 billion long term, with first test chip targeted around May or June.
Risks
- FSD and Robotaxi expansion depend on regulatory approvals in additional markets, including EU-wide approval and China, which management said it does not control.
- Production ramp timing for Optimus and Cybercab is uncertain; Optimus still has design changes, particularly in the hands, and reaching high-volume rates is expected to take at least a year or more.
- Cost headwinds include commodity price increases and interest rate changes, which management said are being partially offset through adjusted vehicle financing programs.
FY2026 Q22026-07-22
Earnings calls
AI summary
positiveTesla reported record Q2 2026 deliveries with sequential growth of 60% in Americas, 27% in APAC, and 12% in EMEA. The company highlighted strong demand driven by Full Self-Driving (FSD) capabilities, with 55% of North America deliveries having FSD enabled at delivery and nearly 1.5 million paid FSD customers globally. Robotaxi operations expanded to seven U.S. markets, accumulating over 380,000 miles of unsupervised operation with zero notable incidents. Management emphasized this is a significant CapEx year with over $25 billion planned for 2026, including investments in Optimus humanoid robot production, Cybercab manufacturing, semiconductor fabrication (Terafab), solar panel production, battery cell scaling, and AI compute infrastructure. Automotive gross margins excluding credits declined to 16.3% from 19.2%, primarily due to warranty adjustments and interest rate impacts. Energy storage deployments reached 13.5 gigawatt hours with 53% sequential growth, though energy margins compressed significantly due to warranty true-ups and tariff benefit non-recurrence. The company secured debt facilities for up to $30 billion to support capital investments and expects continued high grow
Key takeaways
- Record Q2 deliveries globally with strong sequential growth across all major regions driven primarily by FSD demand
- Robotaxi program operates at exponential growth rates with over 380,000 unsupervised miles and zero notable safety incidents across seven U.S. markets
- Massive CapEx investment cycle of over $25 billion in 2026 for Optimus, Cybercab, semiconductor fab (Terafab), solar manufacturing, and AI infrastructure
- FSD attach rates improving with 55% of North America deliveries including FSD subscription and 1.5 million paid global customers
Financial highlights
- Q2 automotive gross margins excluding credits declined to 16.3% from 19.2% primarily due to warranty adjustments and interest rate subvention costs
- Energy storage deployments reached 13.5 gigawatt hours with 53% sequential increase but margins compressed to 20.4% from 39.5% due to warranty true-ups and tariff benefit non-recurrence
- Service and other margins improved to 14.1% from 9.2%, an all-time high, driven by volume growth and improved cost management
- Free cash flow was negative in Q2 due to CapEx more than doubling sequentially, with expectations for further CapEx increases in H2 2026
Guidance
- CapEx expected to exceed $25 billion for 2026 with continued growth expected for the next two to three years
- Robotaxi fleet growth expected to accelerate throughout 2026 with expansion into new U.S. markets at high compound growth rates
- Operating expenses expected to continue growing in 2026 and beyond, primarily driven by R&D for new products including Optimus, Cybercab, Semi Truck and AI initiatives
- Energy business expected to normalize at gross margins in the mid- to low 20% range long-term
Q&A themes
- Robotaxi regulatory environment and sensor requirements, with focus on performance-based validation rather than prescriptive technology mandates
- Optimus supply chain strategy balancing in-house production with strategic supplier partnerships for specialized components like semiconductors and batteries
- Cybercab production alignment with unsupervised miles growth and need for extensive data collection specific to new chassis before high-volume deployment
- Integration of SpaceX technologies including Starlink connectivity for Cybercab and Digital Optimus capabilities for seamless autonomous operations
Risks
- Automotive margins face pressure from commodity price increases, rising interest rates, and warranty adjustments with limited tariff relief benefits repeating
- Energy business inherent lumpiness tied to customer timelines creates quarterly volatility and warranty risk exposure from vendor cell issues in legacy deployments
- Optimus production scaling faces unprecedented manufacturing complexity due to entirely new supply chain with long initial S-curve ramp and extended timeline to profitability
FY2026 Q12026-04-22
Earnings calls
AI summary
positiveTesla achieved Q1 2026 with highest Q1 order backlog in over 2 years, driven by demand in EMEA and APAC regions. The company is investing heavily in future growth with over $25 billion in planned CapEx, including Optimus production startup, AI chip development (AI5 tape-out completed, AI4.1 in development), and Robotaxi expansion to Dallas and Houston. Operating expenses increased due to stock-based compensation and elevated AI-related spending expected to continue throughout 2026.
Key takeaways
- Record Q1 order backlog in over 2 years with 150%+ delivery growth in France and Germany; Giga Berlin reached record 61,000 units in Q1
- Optimus production planned to start late July/August at Fremont with slow initial ramp; second factory at Giga Texas targeting summer 2026 start
- FSD paid customers reached 1.3 million globally with approvals in Netherlands and China; unsupervised FSD/Robotaxi expected to expand to dozen-plus states by end of 2026
- Over $25 billion CapEx planned for 2026 including semiconductor fab construction, battery pack capacity expansion, and AI infrastructure
- Auto margins (excluding credits) improved to 19.2% from 17.9% sequentially with $230 million warranty true-downs and tariff relief; energy storage margins at 39.5% with $250+ million one-time tariff benefits
Financial highlights
- Free cash flow ended Q1 at just over $1.4 billion
- Auto margins excluding credits: 19.2% (up from 17.9% sequentially)
- Energy storage margins: 39.5% (includes one-time $250+ million tariff benefit)
- Energy storage deployment: 8.8 gigawatt hours (38% sequential decline); 2026 deployments expected to exceed 2025
Guidance
- 2026 capital expenditures: over $25 billion, driving negative free cash flow for remainder of year
- Optimus production starting late July/August with slow initial ramp; significant volume increases expected next year
- Unsupervised FSD/Robotaxi revenue not expected to be material in 2026 but material in significant way next year
- Unsupervised FSD expected to reach customer cars in Q4 2026, rolling out gradually by geography
Q&A themes
- Robotaxi safety validation remains primary bottleneck; expansion limited by rigorous safety confirmation per geography with zero incidents/injuries to date
- Hardware 3 cars cannot support unsupervised FSD due to insufficient memory bandwidth; trade-in programs and hardware replacement to AI4 planned via regional micro-factories
- Terafab research fab on Giga Texas expected to cost ~$3 billion with few thousand wafers per month capacity; SpaceX handling initial large-scale phase; Intel partnership using 14A process
- V14.3 is last piece for unsupervised FSD capability; V15 major architectural overhaul expected to improve safety significantly before large-scale deployment
Risks
- Optimus production faces significant execution risk with 10,000+ unique items requiring simultaneous ramp; early production rates impossible to predict with certainty
- Battery pack capacity remains key constraint on vehicle production growth despite mitigation efforts underway
- Tariffs and sustained high interest rates continue impacting automotive margins; additional tariff benefits not yet realized from Supreme Court IEEPA ruling due to uncertainty
FY2025 Q42026-01-28
Earnings calls
AI summary
positiveTesla reported Q4 2025 results with record energy deployments and improved automotive margins despite lower vehicle deliveries. The company is making a strategic pivot toward autonomy, beginning unsupervised robotaxi operations in Austin and planning to convert the Model S/X production line to manufacture Optimus robots at scale. CapEx will exceed $20 billion in 2026 to fund six new factories, AI infrastructure, and expansion of robotaxi and Optimus fleets.
Key takeaways
- Model S and X production ending next quarter; Fremont factory converting to Optimus robot production with long-term goal of 1 million units annually
- Unsupervised robotaxi service launched in Austin with over 500 paid customer vehicles; expected to double monthly and expand to dozens of major cities by year-end
- CapEx projected to exceed $20 billion in 2026 for six factories (refinery, LFP, CyberCab, Semi, Optimus, mega factory) plus AI compute infrastructure
- FSD adoption reached approximately 1.1 million paid customers globally; transitioning to subscription-based model starting this quarter
- Energy segment achieved record $12.8 billion revenue with 26.6% YoY growth; total gross margin improved to 20.1% despite tariff impacts
Financial highlights
- Q4 2025 automotive gross margin improved to 17.9% from 15.4% sequentially, excluding credits
- Energy revenue of $12.8 billion with 26.6% year-over-year growth
- Total gross margin reached 20.1%, highest in over two years
- Free cash flow of $1.4 billion; cash and investments on books exceed $44 billion
Guidance
- CapEx expected to exceed $20 billion in 2026 to fund six factories, AI infrastructure, and fleet expansion
- CyberCab production expected to start in April 2026
- Optimus Gen 3 unveiling planned in coming months; significant production volume expected by end of 2026
- Fully autonomous vehicle availability in dozens of major U.S. cities by end of 2026, pending regulatory approval
Q&A themes
- Autonomous vehicle market opportunity expected to significantly exceed current 90 million annual global vehicle sales, with CyberCab potentially producing several times more units than all other Tesla vehicles combined
- Chip production identified as primary constraint on Tesla growth in 3-4 years; Tesla TerraFab semiconductor fab planned to address logic, memory, and packaging needs domestically
- Optimus currently in R&D phase with limited deployment; Gen 3 design minimizes differences from human form to facilitate learning from human task demonstration
- Tesla AI demonstrated order-of-magnitude better memory efficiency than competitors like Grok and other large models
Risks
- Regulatory approval uncertainty for autonomous vehicle deployment in various jurisdictions; expansion limited to city-by-city or state-by-state basis without federal preemption
- New Optimus supply chain entirely designed from first principles with no existing suppliers, resulting in longer and stretched S-curve manufacturing ramp with execution risk
- Geopolitical risks and semiconductor supply constraints cited as existential threats requiring domestic chip manufacturing capacity; advanced memory fab capacity currently nonexistent in United States
FY2025 Q32025-10-22
Earnings calls
AI summary
positiveTesla achieved record Q3 financial results with strong delivery growth across all regions (up 25-33% sequentially), record energy storage deployments and margins, and approximately $4 billion in free cash flow. The company is expanding robotaxi operations to 8-10 metro areas by year-end with plans to remove safety drivers from Austin within months. Management expressed confidence in achieving unsupervised full self-driving and outlined aggressive production expansion plans, including Cybercab production starting Q2 2026.
Key takeaways
- Robotaxi operations expanded to Austin and Bay Area with over 1.25 million combined miles; safety drivers expected to be removed from Austin within months
- FSD customer base reached 6 billion supervised miles cumulatively; version 14 rollout prioritizes safety with comfort improvements targeted for v14.2
- Record Q3 energy storage deployments and margins achieved; Megapack demand remains strong with new products (Mega Block, MegaPack 3/4) launching
- AI chip strategy: both TSMC and Samsung will manufacture AI5 chips; Tesla projects AI5 will deliver 40x performance improvement over AI4 and 10x better performance-per-dollar
- Optimus humanoid robot: production-intent prototype expected Q1 2026; targeted 1 million unit annual production line launch by end of 2025
Financial highlights
- Q3 free cash flow: approximately $4 billion (record)
- Total cash and investments: over $41 billion at quarter-end
- Automotive revenue increased 29% year-over-year in line with delivery growth
- Automotive gross margin (excluding credits): increased from 15% to 15.4% driven by material cost improvements and fixed cost absorption
Guidance
- Production expansion: aspiration to reach 3 million unit annualized rate within 24 months, potentially less
- Cybercab production: starts Q2 2026; described as primary vehicle driving incremental production growth
- CapEx projection: ~$9 billion in 2025; expected to increase substantially in 2026 for expansion and AI initiatives
- Robotaxi expansion: targeting 8-10 metro areas by year-end; plans to deploy in Nevada, Florida, and Arizona
Q&A themes
- Robotaxi safety and timeline: management expects to remove safety drivers from Austin within months; new markets will initially have safety occupants for 3 months of validation before removal
- FSD architecture and AI roadmap: v14 prioritizes safety over comfort; reasoning capability being added; Tesla AI claims order-of-magnitude higher intelligence density versus competitors
- Optimus manufacturing challenges: hand/forearm dexterity represents primary engineering challenge; supply chain does not currently exist, requiring deep vertical integration; iterative design changes continuing through production start
- Competitive positioning: Tesla positioned as only company with combined capabilities of real-world AI, manufacturing scale, and dexterous robotics; leadership emphasized unique insights from full software-hardware stack integration
Risks
- Regulatory approval uncertainty for robotaxi expansion in multiple jurisdictions; unsupervised FSD deployment remains regulatory-dependent
- Optimus production timeline aggressive given ongoing hardware design iterations and non-existent supply chain; manufacturing at scale represents significant execution risk
- Tariff headwinds exceeding $400 million in Q3 with continued exposure; energy storage business facing increased competition
FY2025 Q22025-07-23
Earnings calls
AI summary
positiveTesla achieved major autonomy milestones in Q2 2025, including robotaxi service launch in Austin with paying customers and fully autonomous vehicle deliveries from factories. The company faces near-term challenges from tariff impacts (~$300M in Q2) and the expiration of $7,500 EV tax credits by end of Q2, offsetting strong sequential revenue growth of 19% driven by improved Model Y pricing. Management projects autonomy at scale will drive compelling economics by end of 2025.
Key takeaways
- Robotaxi service launched in Austin with no driver; expansion to 10x+ current region planned with goals for half U.S. population coverage by year-end subject to regulatory approval
- FSD adoption increased 25% since v12 launch in North America; vehicle safety data shows 10x safety improvement on FSD vs. non-FSD; unsupervised FSD targeted for incentivized personal use in select U.S. geographies by year-end
- Tariff impact of ~$300M in Q2 (~$200M automotive, ~$100M energy) with full impact expected in subsequent quarters; IRA EV credit ($7,500) expires end of Q2 reducing regulatory credit revenue
- Optimus 3 design finalized with prototypes expected end-2025 and production ramp starting early 2026; goal of 1M units/year within 5 years; expects 100,000 units/month production within 60 months
- Lower-cost model production started but ramp delayed to Q3/Q4 due to manufacturing complexity; affordable vehicle economics to improve significantly once personal vehicle robotaxi fleet earning is enabled (expected 2025)
Financial highlights
- Q2 automotive revenue increased 19% sequentially despite 14% delivery growth, driven by improved ASPs from new Model Y
- Tariff cost impact of approximately $300M sequentially (~$200M automotive, ~$100M energy); full impact to come in following quarters
- Q2 free cash flow of $146M with sequential CapEx increase; full-year 2025 CapEx expected to exceed $9 billion
- Energy business achieved highest gross profit yet; regulatory credit revenue will decrease due to elimination of emission penalties in legislative bill
Guidance
- Robotaxi service expansion to Bay Area, Nevada, Arizona, Florida and other locations; goal of autonomous ride-hailing covering ~50% of U.S. population by end of 2025 subject to regulatory approvals
- Unsupervised FSD available for incentivized personal use in certain U.S. geographies by end of 2025; broader rollout timeline dependent on safety validation and regulatory approval
- Lower-cost model ramp beginning Q3 2025 with wider availability expected Q4 2025; design maintains strong margins without negatively impacting revenue
- Optimus 3 prototypes expected end-2025; production ramp starting early 2026 with aspiration of reaching 1M units/year within 5 years
Q&A themes
- Robotaxi KPIs: >7,000 autonomous miles in Austin with handful of vehicles; no notable safety-critical incidents; speed restrictions at 40 mph for safety; service well-received
- Cybercab economics: projected sub-$0.30 per mile potential (possibly ~$0.25); existing fleet estimated >$0.50 per mile but remains competitive; Optimus involvement in maintenance/charging will further reduce costs
- Third-party vehicle fleet participation: targeting next year (2026) with vehicle quality validation criteria similar to Uber/Lyft; inspection process for safety assurance before fleet entry
- Optimus production timeline: current stage is prototypes expected late-2025; production ramp beginning early 2026; early ramp phase expected to have negative gross margins during debugging
Risks
- Tariff uncertainty: ~$300M Q2 impact with full impact expected in subsequent quarters; unpredictable regulatory environment limiting near-term visibility on margin trajectory
- Regulatory risks for autonomous expansion: robotaxi rollout across multiple states and international markets (Europe, China) dependent on regulatory approval; FSD availability constrained by safety validation and approval timelines
- Lower-cost model ramp delays and complexity: production started but ramp slower than initially expected due to manufacturing complexity; profitability dependent on execution and scale achievement
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Finland approves Tesla's Assisted Driving system
- Tesla Cybertruck is EV pickup market's latest casualty
- Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says
- Tesla to expand Cybertruck production in bid to fill orders before dismantling line next year
- Tesla Cybertruck's bumpy run: cracked windows, long delays and 11 recalls
- Musk Called It Tesla's ‘Best Product Ever.' Now The Cybertruck Is Being Scrapped.
- A Polarizing Halo Product Runs Out of Road at Tesla
- Tesla Winding Down Production of Cybertruck, Musk Says
- Tesla to wind down Cybertruck production at Texas gigafactory next year, Musk says
- SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
Company data
Company intelligence
Updated: Nov 13, 2026, 02:14 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Consumer Cyclical
- Industry
- Auto - Manufacturers
- Chief executive
- Elon R. Musk
- Employees
- 134,785
- IPO date
- Jun 29, 2010
- Country
- US
- Exchange
- NASDAQ Global Select
Altman Z-scorei15.04
Piotroski scorei6/9
Overall ratingiC+
Owner earningsi$1.51B$0.43 per share
ESG risk ratingiBIndustry rank: 41/44
Rating factors
- Return on equityi
- 2/5
- Return on assetsi
- 3/5
- Debt to equityi
- 4/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
Cotchett, Pitre & McCarthy Announces Lawsuit Against Tesla in San Mateo Racing CaseBusiness WireSargasso Capital Management Announces New Report on Tesla and SpaceXGlobeNewsWireTesla Releases Third Quarter 2026 Financial ResultsBusiness WireBattery X Metals Highlights Participation at X Takeover 2026, an Electric Vehicle and Emerging Technology Event Held at Tesla's Gigafactory Texas, Providing Exposure to Industry Perspectives and Technology DevelopmentsAccesswirePilot and Tesla Open First Megacharger Site, Announce Three Additional Locations Opening SoonBusiness WireTesla Third Quarter 2026 Production, Deliveries & DeploymentsBusiness Wire
Congressional disclosures
Senate
Alan ArmstrongPurchase · $1,001 - $15,000Disclosed: Jul 21, 2026Alan ArmstrongPurchase · $15,001 - $50,000Disclosed: Jul 21, 2026Alan ArmstrongPurchase · $15,001 - $50,000Disclosed: Jul 22, 2026Sheldon WhitehouseSale (Full) · $15,001 - $50,000Disclosed: Nov 7, 2024Sheldon WhitehouseSale (Full) · $100,001 - $250,000Disclosed: Nov 7, 2024
House
Market cap history
$1.29T+17.0%Aug 2026 – Nov 2026
Latest: $1.29T · 2026-11-12High: $1.32T · 2026-10-12Low: $1.10T · 2026-08-17
Not comparable with the headline: the provider's history counts about 3.24B shares, the headline 3.95B. Shown as the provider reports it.
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 1.36% | 89.5M |
| VOO | 1.52% | 74M |
| QQQ | 3.32% | 40.5M |
| IVV | 1.65% | 37.9M |
| 1657.T | 1.26% | 37.9M |
| XAW.TO | 0.98% | 37.9M |
| XSP.TO | 1.68% | 37.9M |
| XUU.TO | 1.47% | 37.9M |
| XWD.TO | 1.19% | 37.9M |
| SPY | 1.65% | 34.5M |
| FXAIX | 1.52% | 34.4M |
| VUG | 2.65% | 29.3M |
Analyst track record
How the analysts covering TSLA have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 290 | 1,254 |
| Analysts | 43 | 66 |
| Buy / hold / sell | 115 / 135 / 40 | 559 / 462 / 233 |
| Upgrades / downgrades / initiations | 8 / 2 / 3 | 18 / 25 / 14 |
| Price targets hit / missed | 94 / 165 (36%) | 779 / 334 (70%) |
| Avg. return after a rating (TipRanks) | +73.5% | +95.7% |
| Best / worst call | > +1,000% / -33.8% | > +1,000% / -33.8% |
After buy calls on this stock: median 21-day move +1.6% vs S&P 500 +0.5% (n = 565)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Edison YuDeutsche Bank100% hit rate on this stock · 18 targets measuredBuytarget $420Oct 26, 2026
- Emmanuel RosnerWolfe Research100% hit rate on this stock · 9 targets measuredHoldno targetJan 12, 2026
- Ben KalloRobert W. Baird97% hit rate on this stock · 29 targets measuredBuytarget $538Apr 6, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 12, 2026 | Rajat Gupta CFAJ.P. MorganNov 12, 2026 | HoldMaintained | $430↗ | article ↗ |
| Nov 10, 2026 | Philippe HouchoisJefferiesNov 10, 2026 | HoldMaintained | $375↗ | article ↗ |
| Oct 29, 2026 | Alexander PerryBank of America SecuritiesOct 29, 2026 | BuyMaintained | $460↗ | article ↗ |
| Oct 26, 2026 | Andres SheppardCantor FitzgeraldOct 26, 2026 | BuyMaintained | $485↗ | article ↗ |
| Oct 26, 2026 | Tom NarayanRBC CapitalOct 26, 2026 | BuyMaintained | $480↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 290 ratings
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