Tesla Inc. (TSLA) financials
NASDAQ · Consumer Cyclical · Auto - Manufacturers · 134,785 employees · CEO Elon R. Musk
- Price
- $399.81 -0.87%
- Market cap
- $1.58T
- Enterprise value
- $1.58T
- Last report
- Q3 '26 filed 2026-10-22
- Next report
- 2027-01-27 EPS est. $0.51
Revenue (TTM)$104B+8.3% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)3.3%-1.4 pp vs a year agoOperating income $3.47B
Net income (TTM)$3.22B-38.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$3.3B-51.7% vs a year agoCapex $15.4B
Diluted EPS (TTM)$0.91-39.2% vs a year agoSum of the last 4 quarters
Net cash$29B+24.6% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $1.58T EV $1.58T
- Revenue
- $104B Trailing 12 months
- Revenue growth
- +13% FY2026 consensus
- Profit margin
- 3.1% Net income / revenue, TTM
- P/E
- 403.8× Forward 237.6× (FY2026)
- P/S
- 15.3× Price / sales, TTM
- EV / EBITDA
- 140.2× TTM
- Free cash flow
- $3.3B Trailing 12 months
- Net income
- $3.22B Trailing 12 months
- Revenue estimate
- $108B FY2026 consensus
- Earnings
- 2027-01-27 Revenue est. $28.6B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-21): revenue in line, EPS beat by 5.5%Revenue $28B vs $28.1B expected (0.0%); EPS $0.48 vs $0.46 (+5.5%).
- Revenue growth slowing: -0.2% year on yearQ3 '26 revenue $28B, against an average of 12.4% over the four quarters before.
- Operating margin 3.3% (TTM), -1.4 pp on a year agoOperating income grew -23.5% while revenue grew 8.3%.
- 17.8% of pre-tax profit is non-operatingPre-tax income $4.21B vs operating income $3.47B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 14.9% of revenue (a year ago 9.3%)$15.4B invested in the last 4 quarters (+72.8% on a year earlier). Free cash flow $3.3B = 102.6% of net income.
- Diluted share count up 0.4% in a year3.54B diluted shares in Q3 '26, 3.53B a year earlier.
- Net cash $29BCash + short-term investments $45.4B, debt incl. leases $16.4B; a year ago net cash $23.3B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $28B | $28.1B | -0.2% |
| Gross margin | 19.6% | 18.0% | +1.6 pp |
| Operating income | $718M | $1.62B | -55.8% |
| Operating margin | 2.6% | 5.8% | -3.2 pp |
| Net income | $787M | $1.37B | -42.7% |
| Diluted EPS | $0.22 | $0.39 | -43.6% |
| Operating cash flow | $6.26B | $6.24B | +0.4% |
| Capex | $4.73B | $2.25B | +110.5% |
| Free cash flow | $1.53B | $3.99B | -61.6% |
| R&D | $2.76B | $1.63B | +69.4% |
| Stock-based compensation | $1.17B | $663M | +75.7% |
Reported vs consensus
2026-10-21| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $28B | $28.1B | 0.0% |
| EPS (as estimated) | $0.48 | $0.46 | +5.5% |
From the report of 2026-10-21 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Automotive | $20.6B | -3.0% | 73.3% | $75B | +4.7% | |
| Services And Other | $4.61B | +32.5% | 16.4% | $16.3B | +35.8% | |
| Energy Generation And Storage Segment | $2.88B | -15.6% | 10.3% | $12.3B | +2.3% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $12.5B | -14.4% | 44.6% | $47.3B | -3.3% | |
| Other Countries | $10.3B | +31.8% | 36.9% | $35.5B | +34.3% | |
| CHINA | $5.21B | -7.9% | 18.6% | $20.8B | +2.2% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $18.7B
- Capex
- -$15.4B
- Buybacks
- $0
- Dividends
- $70M
- Acquisitions
- $4B
- Net debt issued
- -$1.67B
- Stock-based compensation
- $4.3B
- Free cash flow
- $3.3B
- Returned to shareholders / FCF
- -2.1%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 403.8× | 166.7× | 30.6× – 381.1× |
| EV / EBITDA | 140.2× | 78.4× | 21.5× – 122.6× |
| EV / Sales | 15.2× | 12.1× | 4.6× – 19.2× |
| Price / FCF | 478.5× | 225.0× | 51.1× – 360.5× |
| Price / Book | 14.5× | 18.2× | 8.6× – 34.5× |
| FCF yield | 0.2% | 0.7% | 0.3% – 2.0% |
| Return on invested capital | 2.3% | 10.9% | 3.0% – 21.7% |
| Return on equity | 3.8% | 17.0% | 4.6% – 28.1% |
Analysts
Consensus target $442.59 (+10.7%)
range $157.00 – $840.00 · rating Buy
Strong buy0
Buy35
Hold34
Sell14
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $108B | +13.4% | $1.68 | +55.8% | 237.6× | 24 |
| FY2027 | $122B | +13.3% | $2.02 | +20.2% | 197.7× | 24 |
| FY2028 | $144B | +18.5% | $2.86 | +41.5% | 139.7× | 21 |
| FY2029 | $200B | +38.6% | $5.76 | +101.3% | 69.4× | 9 |
| FY2030 | $249B | +24.4% | $8.50 | +47.5% | 47.0× | 9 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 290 figures Tesla, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivable, after Allowance for Credit Loss | $243M2025-09-30 | $250M | -2.8% | $280M2022-12-31 | $299M | -6.4% |
| Accounts Payable, Current | $17.2B | $12.8B | +34.5% | $13.4B | $12.5B | +7.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $4.64B | $4.7B | -1.4% | $4.58B | $4.42B | +3.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $19B2025-09-30 | $14.7B | +29.2% | $15.6B2024-12-31 | $12.1B | +29.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $489M | $207M | +136.2% | $361M | -$670M | +153.9% |
| Additional Paid in Capital, Common Stock | $47.4B | $41.6B | +14.0% | $42.8B | $38.4B | +11.5% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.24B | $722M | +72.0% | $3.1B | $2.2B | +40.8% |
| Assets | $158B | $134B | +17.8% | $138B | $122B | +12.9% |
| Assets Held by Insurance Regulators | $231M | $254M | -9.1% | $254M | $286M | -11.2% |
| Assets, Current | $70.4B | $64.7B | +8.9% | $68.6B | $58.4B | +17.6% |
| Assets, Fair Value Disclosure | $34.2B | $25.8B | +32.5% | $30.4B | $23.3B | +30.9% |
| Cash and Cash Equivalents, at Carrying Value | $17.9B | $18.3B | -2.4% | $16.5B | $16.1B | +2.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $19B | $19.6B | -3.0% | $17.6B | $17B | +3.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $2.58B | $2.85B | -9.4% | $579M | -$152M | +480.9% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 6B | 6B | 0.0% | 6B | 6B | 0.0% |
| Common Stock, Shares, Issued | 3.95B | 3.32B | +18.9% | 3.75B | 3.22B | +16.6% |
| Common Stock, Shares, Outstanding | 3.95B | 3.32B | +18.9% | 3.75B | 3.22B | +16.6% |
| Common Stock, Value, Issued | $4M | $3M | +33.3% | $3M | $3M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $17M | $16M | +6.3% | $61M | $62M | -1.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $875M | $1.42B | -38.5% | $4.83B | $6.56B | -26.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $892M | $1.44B | -38.0% | $4.89B | $6.63B | -26.3% |
| Contract with Customer, Liability | $3.87B2025-12-31 | $3.6B | +7.4% | $3.87B | $3.6B | +7.4% |
| Contract with Customer, Liability, Current | $4.66B | $3.76B | +24.1% | $3.42B | $3.17B | +8.1% |
| Contract with Customer, Liability, Noncurrent | $4.13B | $3.75B | +10.1% | $3.63B | $3.32B | +9.5% |
| Contract with Customer, Liability, Revenue Recognized | – | – | – | $956M | $1.19B | -19.5% |
| Cost of Revenue | $22.6B | $23B | -2.1% | $77.7B | $80.2B | -3.1% |
| CryptoAssetAddition | – | – | – | $0 | $0 | – |
| CryptoAssetCost | $387M2025-12-31 | $387M | 0.0% | $387M | $387M | 0.0% |
| CryptoAssetFairValue | $962M | – | – | $1.01B | $1.08B | -6.3% |
| CryptoAssetFairValueNoncurrent | $962M | $1.32B | -26.8% | $1.01B | $1.08B | -6.3% |
| CryptoAssetUnrealizedGainLossOperatingAndNonoperating | – | – | – | -$68M | $589M | -111.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.3B | $1.32B | -1.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $1.3B | $1.36B | -4.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5M | $45M | -88.9% |
| Debt Instrument, Unused Borrowing Capacity, Amount | $30B | $7.39B | +306.1% | $6.43B | $5B | +28.6% |
| Debt Securities, Available-for-sale | $41.6B2025-09-30 | $33.6B | +23.8% | $36.6B2024-12-31 | $29.1B | +25.7% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $1M | $7M | -85.7% | $7M | $15M | -53.3% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $44M | $2M | +2,100.0% | $4M | $1M | +300.0% |
| Debt Securities, Available-for-sale, Amortized Cost | $41.6B2025-09-30 | $33.6B | +23.8% | $36.5B2024-12-31 | $29.1B | +25.6% |
| Debt, Current | $1.31B | $1.85B | -29.2% | $1.57B | $2.34B | -33.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $434M | $831M | -47.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$332M | -$305M | -8.9% |
| Deferred Income Tax Assets, Net | $7.91B | $6.64B | +19.2% | $6.93B | $6.52B | +6.1% |
| Deferred Income Tax Expense (Benefit) | -$357M | $225M | -258.7% | $123M | $477M | -74.2% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $21M | -$49M | +142.9% |
| Deferred Tax Assets, Deferred Income | $999M2025-12-31 | $1.1B | -9.3% | $999M | $1.1B | -9.3% |
| Deferred Tax Assets, Gross | $13.5B2025-12-31 | $12B | +12.8% | $13.5B | $12B | +12.8% |
| Deferred Tax Assets, Inventory | $2.27B2025-12-31 | $1.77B | +28.3% | $2.27B | $1.77B | +28.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $11.7B2025-12-31 | $10.7B | +9.2% | $11.7B | $10.7B | +9.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $1.08B2025-12-31 | $1.3B | -16.4% | $1.08B | $1.3B | -16.4% |
| Deferred Tax Assets, Other | $570M2025-12-31 | $412M | +38.3% | $570M | $412M | +38.3% |
| Deferred Tax Assets, Tax Credit Carryforwards, Other | $2.09B2025-12-31 | $1.33B | +57.7% | $2.09B | $1.33B | +57.7% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $2.03B2025-12-31 | $1.74B | +17.0% | $2.03B | $1.74B | +17.0% |
| Deferred Tax Assets, Valuation Allowance | $1.77B2025-12-31 | $1.22B | +44.2% | $1.77B | $1.22B | +44.2% |
| Deferred Tax Liabilities, Gross | $4.93B2025-12-31 | $4.32B | +14.2% | $4.93B | $4.32B | +14.2% |
| Deferred Tax Liabilities, Other | $514M2025-12-31 | $561M | -8.4% | $514M | $561M | -8.4% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $3.15B2025-12-31 | $2.66B | +18.4% | $3.15B | $2.66B | +18.4% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $02025-12-31 | $0 | – | $0 | $0 | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01