Tesla Inc. (TSLA)财务
NASDAQ · Consumer Cyclical · Auto - Manufacturers · 员工134,785人 · CEO Elon R. Musk
- 股价
- $399.81 -0.87%
- 市值
- $1.58万亿
- 企业价值
- $1.58万亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-01-27 EPS预期 $0.51
营收(TTM)$1040亿+8.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)3.3%-1.4 百分点 对比去年同期营业利润 $34.7亿
净利润(TTM)$32.2亿-38.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$33亿-51.7% 对比去年同期资本支出 $154亿
稀释EPS(TTM)$0.91-39.2% 对比去年同期最近4个季度之和
净现金$290亿+24.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1.58万亿 EV $1.58万亿
- 营收
- $1040亿 过去12个月
- 营收增速
- +13% FY2026年一致预期
- 净利润率
- 3.1% 净利润 / 营收,TTM
- P/E
- 403.8× 预期 237.6×(FY2026)
- P/S
- 15.3× 股价 / 营收,TTM
- EV / EBITDA
- 140.2× TTM
- 自由现金流
- $33亿 过去12个月
- 净利润
- $32.2亿 过去12个月
- 营收预期
- $1080亿 FY2026年一致预期
- 盈利
- 2027-01-27 营收预期 $286亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-21):营收符合预期,EPS 超预期5.5%营收$280亿,预期$281亿(0.0%);EPS $0.48,预期$0.46(+5.5%)。
- 营收增长放缓:同比-0.2%Q3 '26营收$280亿,此前四个季度的平均值为12.4%。
- 营业利润率3.3%(TTM),较去年同期-1.4 百分点营收增长8.3%,营业利润增长-23.5%。
- 税前利润的17.8%来自营业外收益税前利润$42.1亿,营业利润$34.7亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的14.9%(去年为9.3%)最近4个季度投入$154亿(同比+72.8%)。自由现金流$33亿,相当于净利润的102.6%。
- 稀释股数一年内增加0.4%Q3 '26稀释股数35.4亿,一年前为35.3亿。
- 净现金 $290亿现金 + 短期投资 $454亿,含租赁债务 $164亿;一年前净现金 $233亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $280亿 | $281亿 | -0.2% |
| 毛利率 | 19.6% | 18.0% | +1.6 百分点 |
| 营业利润 | $7.18亿 | $16.2亿 | -55.8% |
| 营业利润率 | 2.6% | 5.8% | -3.2 百分点 |
| 净利润 | $7.87亿 | $13.7亿 | -42.7% |
| 稀释EPS | $0.22 | $0.39 | -43.6% |
| 经营现金流 | $62.6亿 | $62.4亿 | +0.4% |
| 资本支出 | $47.3亿 | $22.5亿 | +110.5% |
| 自由现金流 | $15.3亿 | $39.9亿 | -61.6% |
| R&D | $27.6亿 | $16.3亿 | +69.4% |
| 股权激励费用 | $11.7亿 | $6.63亿 | +75.7% |
实际 vs 一致预期
2026-10-21| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $280亿 | $281亿 | 0.0% |
| EPS(一致预期口径) | $0.48 | $0.46 | +5.5% |
来自2026-10-21发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Automotive | $206亿 | -3.0% | 73.3% | $750亿 | +4.7% | |
| Services And Other | $46.1亿 | +32.5% | 16.4% | $163亿 | +35.8% | |
| Energy Generation And Storage Segment | $28.8亿 | -15.6% | 10.3% | $123亿 | +2.3% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $125亿 | -14.4% | 44.6% | $473亿 | -3.3% | |
| Other Countries | $103亿 | +31.8% | 36.9% | $355亿 | +34.3% | |
| CHINA | $52.1亿 | -7.9% | 18.6% | $208亿 | +2.2% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $187亿
- 资本支出
- -$154亿
- 股票回购
- $0
- 股息
- $7000万
- 收购
- $40亿
- 债务净发行
- -$16.7亿
- 股权激励费用
- $43亿
- 自由现金流
- $33亿
- 股东回报 / FCF
- -2.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 403.8× | 166.7× | 30.6× – 381.1× |
| EV / EBITDA | 140.2× | 78.4× | 21.5× – 122.6× |
| EV / 营收 | 15.2× | 12.1× | 4.6× – 19.2× |
| 股价 / FCF | 478.5× | 225.0× | 51.1× – 360.5× |
| 股价 / 净资产 | 14.5× | 18.2× | 8.6× – 34.5× |
| FCF收益率 | 0.2% | 0.7% | 0.3% – 2.0% |
| 投入资本回报率 | 2.3% | 10.9% | 3.0% – 21.7% |
| 净资产收益率 | 3.8% | 17.0% | 4.6% – 28.1% |
分析师
一致目标价 $442.59 (+10.7%)
区间 $157.00 – $840.00 · 评级 Buy
强烈买入0
买入35
持有34
卖出14
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $1080亿 | +13.4% | $1.68 | +55.8% | 237.6× | 24 |
| FY2027 | $1220亿 | +13.3% | $2.02 | +20.2% | 197.7× | 24 |
| FY2028 | $1440亿 | +18.5% | $2.86 | +41.5% | 139.7× | 21 |
| FY2029 | $2000亿 | +38.6% | $5.76 | +101.3% | 69.4× | 9 |
| FY2030 | $2490亿 | +24.4% | $8.50 | +47.5% | 47.0× | 9 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Tesla, Inc.在近期10-Q / 10-K文件中标记的全部290项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivable, after Allowance for Credit Loss | $2.43亿2025-09-30 | $2.5亿 | -2.8% | $2.8亿2022-12-31 | $2.99亿 | -6.4% |
| Accounts Payable, Current | $172亿 | $128亿 | +34.5% | $134亿 | $125亿 | +7.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $46.4亿 | $47亿 | -1.4% | $45.8亿 | $44.2亿 | +3.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $190亿2025-09-30 | $147亿 | +29.2% | $156亿2024-12-31 | $121亿 | +29.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $4.89亿 | $2.07亿 | +136.2% | $3.61亿 | -$6.7亿 | +153.9% |
| Additional Paid in Capital, Common Stock | $474亿 | $416亿 | +14.0% | $428亿 | $384亿 | +11.5% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $12.4亿 | $7.22亿 | +72.0% | $31亿 | $22亿 | +40.8% |
| Assets | $1580亿 | $1340亿 | +17.8% | $1380亿 | $1220亿 | +12.9% |
| Assets Held by Insurance Regulators | $2.31亿 | $2.54亿 | -9.1% | $2.54亿 | $2.86亿 | -11.2% |
| Assets, Current | $704亿 | $647亿 | +8.9% | $686亿 | $584亿 | +17.6% |
| Assets, Fair Value Disclosure | $342亿 | $258亿 | +32.5% | $304亿 | $233亿 | +30.9% |
| Cash and Cash Equivalents, at Carrying Value | $179亿 | $183亿 | -2.4% | $165亿 | $161亿 | +2.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $190亿 | $196亿 | -3.0% | $176亿 | $170亿 | +3.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $25.8亿 | $28.5亿 | -9.4% | $5.79亿 | -$1.52亿 | +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 | 60亿 | 60亿 | 0.0% | 60亿 | 60亿 | 0.0% |
| Common Stock, Shares, Issued | 39.5亿 | 33.2亿 | +18.9% | 37.5亿 | 32.2亿 | +16.6% |
| Common Stock, Shares, Outstanding | 39.5亿 | 33.2亿 | +18.9% | 37.5亿 | 32.2亿 | +16.6% |
| Common Stock, Value, Issued | $400万 | $300万 | +33.3% | $300万 | $300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $1700万 | $1600万 | +6.3% | $6100万 | $6200万 | -1.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $8.75亿 | $14.2亿 | -38.5% | $48.3亿 | $65.6亿 | -26.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $8.92亿 | $14.4亿 | -38.0% | $48.9亿 | $66.3亿 | -26.3% |
| Contract with Customer, Liability | $38.7亿2025-12-31 | $36亿 | +7.4% | $38.7亿 | $36亿 | +7.4% |
| Contract with Customer, Liability, Current | $46.6亿 | $37.6亿 | +24.1% | $34.2亿 | $31.7亿 | +8.1% |
| Contract with Customer, Liability, Noncurrent | $41.3亿 | $37.5亿 | +10.1% | $36.3亿 | $33.2亿 | +9.5% |
| Contract with Customer, Liability, Revenue Recognized | – | – | – | $9.56亿 | $11.9亿 | -19.5% |
| Cost of Revenue | $226亿 | $230亿 | -2.1% | $777亿 | $802亿 | -3.1% |
| CryptoAssetAddition | – | – | – | $0 | $0 | – |
| CryptoAssetCost | $3.87亿2025-12-31 | $3.87亿 | 0.0% | $3.87亿 | $3.87亿 | 0.0% |
| CryptoAssetFairValue | $9.62亿 | – | – | $10.1亿 | $10.8亿 | -6.3% |
| CryptoAssetFairValueNoncurrent | $9.62亿 | $13.2亿 | -26.8% | $10.1亿 | $10.8亿 | -6.3% |
| CryptoAssetUnrealizedGainLossOperatingAndNonoperating | – | – | – | -$6800万 | $5.89亿 | -111.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Foreign Tax Expense (Benefit) | – | – | – | $13亿 | $13.2亿 | -1.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $13亿 | $13.6亿 | -4.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $500万 | $4500万 | -88.9% |
| Debt Instrument, Unused Borrowing Capacity, Amount | $300亿 | $73.9亿 | +306.1% | $64.3亿 | $50亿 | +28.6% |
| Debt Securities, Available-for-sale | $416亿2025-09-30 | $336亿 | +23.8% | $366亿2024-12-31 | $291亿 | +25.7% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $100万 | $700万 | -85.7% | $700万 | $1500万 | -53.3% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $4400万 | $200万 | +2,100.0% | $400万 | $100万 | +300.0% |
| Debt Securities, Available-for-sale, Amortized Cost | $416亿2025-09-30 | $336亿 | +23.8% | $365亿2024-12-31 | $291亿 | +25.6% |
| Debt, Current | $13.1亿 | $18.5亿 | -29.2% | $15.7亿 | $23.4亿 | -33.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $4.34亿 | $8.31亿 | -47.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$3.32亿 | -$3.05亿 | -8.9% |
| Deferred Income Tax Assets, Net | $79.1亿 | $66.4亿 | +19.2% | $69.3亿 | $65.2亿 | +6.1% |
| Deferred Income Tax Expense (Benefit) | -$3.57亿 | $2.25亿 | -258.7% | $1.23亿 | $4.77亿 | -74.2% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2100万 | -$4900万 | +142.9% |
| Deferred Tax Assets, Deferred Income | $9.99亿2025-12-31 | $11亿 | -9.3% | $9.99亿 | $11亿 | -9.3% |
| Deferred Tax Assets, Gross | $135亿2025-12-31 | $120亿 | +12.8% | $135亿 | $120亿 | +12.8% |
| Deferred Tax Assets, Inventory | $22.7亿2025-12-31 | $17.7亿 | +28.3% | $22.7亿 | $17.7亿 | +28.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $117亿2025-12-31 | $107亿 | +9.2% | $117亿 | $107亿 | +9.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $10.8亿2025-12-31 | $13亿 | -16.4% | $10.8亿 | $13亿 | -16.4% |
| Deferred Tax Assets, Other | $5.7亿2025-12-31 | $4.12亿 | +38.3% | $5.7亿 | $4.12亿 | +38.3% |
| Deferred Tax Assets, Tax Credit Carryforwards, Other | $20.9亿2025-12-31 | $13.3亿 | +57.7% | $20.9亿 | $13.3亿 | +57.7% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $20.3亿2025-12-31 | $17.4亿 | +17.0% | $20.3亿 | $17.4亿 | +17.0% |
| Deferred Tax Assets, Valuation Allowance | $17.7亿2025-12-31 | $12.2亿 | +44.2% | $17.7亿 | $12.2亿 | +44.2% |
| Deferred Tax Liabilities, Gross | $49.3亿2025-12-31 | $43.2亿 | +14.2% | $49.3亿 | $43.2亿 | +14.2% |
| Deferred Tax Liabilities, Other | $5.14亿2025-12-31 | $5.61亿 | -8.4% | $5.14亿 | $5.61亿 | -8.4% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $31.5亿2025-12-31 | $26.6亿 | +18.4% | $31.5亿 | $26.6亿 | +18.4% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $02025-12-31 | $0 | – | $0 | $0 | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 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
数据截至 2026-11-01