Tesla, Inc.

Consumer Discretionary Automobile Manufacturers Austin, Texas Last filing Jan 29, 2026 · FY2025

                    Revenue
                    FY2025
                
$94.8B
                    3y CAGR +5.2%
                    
                    P51
                    
                    -2.9%
                    
                    Net income
                    FY2025
                
$3.8B
                    Net margin +4.0%
                    
                    P22
                    
                    -46.5%
                    
                    Total assets
                    FY2025
                
$137.8B
                    ROA +2.8%
                    
                    P22
                    
                    +12.9%
                    
                    Operating cash flow
                    FY2025
                
$14.7B
                    FCF margin +6.6%
                    
                    P23
                    
                    -1.2%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

36 accounts · 3 years

Total assets $137.8B

Total liabilities $54.9B

Shareholders equity $82.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$16.5B 2.3%	$16.1B -1.6%	$16.4B
Short Term Investments	$27.5B 34.9%	$20.4B 60.9%	$12.7B
Accounts Receivable	$4.6B 3.6%	$4.4B 25.9%	$3.5B
Inventory	$12.4B 3.1%	$12.0B -11.8%	$13.6B
Prepaid Expenses	$7.6B 42.0%	$5.4B 58.3%	$3.4B
Other Current Assets	$7.6B 42.0%	$5.4B 58.3%	$3.4B
Total Current Assets	$68.6B 17.6%	$58.4B 17.6%	$49.6B
Property,Plant and Equipment	$40.6B 13.4%	$35.8B 20.6%	$29.7B
Operating Lease Assets	$6.0B 16.8%	$5.2B 23.4%	$4.2B
Goodwill	$0 -100.0%	$244.0M -3.6%	$253.0M
Intangible Assets	$0 -100.0%	$150.0M -15.7%	$178.0M
Long Term Investments	$27.5B 34.9%	$20.4B 60.9%	$12.7B
Deferred Tax Assets	$6.9B 6.1%	$6.5B -3.1%	$6.7B
Other Noncurrent Assets	$5.0B 19.7%	$4.2B -7.0%	$4.5B
Total Assets	$137.8B 12.9%	$122.1B 14.5%	$106.6B
Liabilities
Accounts Payable	$13.4B 7.2%	$12.5B -13.6%	$14.4B
Accrued Liabilities	$12.1B 25.9%	$9.6B 25.2%	$7.7B
Deferred Revenue	$3.4B 8.1%	$3.2B 10.6%	$2.9B
Current Portion of Long Term Debt	$1.6B -33.0%	$2.3B 18.6%	$2.0B
Operating Lease Liabilities	$954.0M 18.2%	$807.0M 20.1%	$672.0M
Other Current Liabilities	$1.9B 24.7%	$1.5B 199.6%	$517.0M
Total Current Liabilities	$31.7B 10.0%	$28.8B 0.3%	$28.7B
Long Term Debt	$6.6B 19.0%	$5.5B 106.4%	$2.7B
Deferred Revenue Noncurrent	$3.6B 9.5%	$3.3B 2.0%	$3.3B
Operating Lease Liabilities Noncurrent	$5.4B 17.1%	$4.6B 25.4%	$3.7B
Deferred Tax Liabilities	$0 -100.0%	$4.3B 33.6%	$3.2B
Other Noncurrent Liabilities	$12.9B 22.5%	$10.5B 28.7%	$8.2B
Total Liabilities	$54.9B 13.5%	$48.4B 12.5%	$43.0B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$3.0M 0.0%	$3.0M 0.0%	$3.0M
Additional Paid In Capital	$42.8B 11.5%	$38.4B 10.0%	$34.9B
Retained Earnings	$39.0B 10.8%	$35.2B 26.3%	$27.9B
Accumulated Other Comprehensive Income	$361.0M 153.9%	$-670.0M -368.5%	$-143.0M
Noncontrolling Interest	$670.0M -4.8%	$704.0M -4.0%	$733.0M
Total Stockholders Equity	$82.1B 12.7%	$72.9B 16.4%	$62.6B
Total Liabilitiesand Equity	$137.8B 12.9%	$122.1B 14.5%	$106.6B

Income Statement

Revenue, expense, and profitability

20 accounts · 3 years

Revenue $94.8B

Operating income $4.4B

Net income $3.8B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$94.8B -2.9%	$97.7B 0.9%	$96.8B
Expenses Cost of Revenue	$77.7B -3.1%	$80.2B 1.4%	$79.1B
Expenses Research and Development	$6.4B 41.2%	$4.5B 14.4%	$4.0B
Expenses Selling,General and Administrative	$5.8B 13.3%	$5.2B 7.3%	$4.8B
Expenses Share Based Compensation	$2.8B 41.3%	$2.0B 10.3%	$1.8B
Expenses Restructuring and Asset Impairment	$390.0M	—	—
Expenses Operating Expenses	$12.7B 22.8%	$10.4B 18.3%	$8.8B
Other Income Expense Gross Profit	$17.1B -2.0%	$17.4B -1.2%	$17.7B
Other Income Expense Operating Income	$4.4B -38.5%	$7.1B -20.4%	$8.9B
Other Income Expense Interest Income	$1.7B 7.1%	$1.6B 47.2%	$1.1B
Other Income Expense Interest Expense	$12.0M -42.9%	$21.0M -86.5%	$156.0M
Other Income Expense Other Income/expense	$-419.0M -160.3%	$695.0M 304.1%	$172.0M
Other Income Expense Income Before Tax	$5.3B -41.3%	$9.0B -9.9%	$10.0B
Income Tax Income Tax Expense	$1.4B -22.5%	$1.8B 136.7%	$-5.0B
net Income net Income	$3.8B -46.5%	$7.1B -52.7%	$15.0B
net Income Comprehensive Income	$4.8B -26.5%	$6.6B -56.9%	$15.2B
Earnings Per Share Basic Eps	$1 -47.1%	$2 -52.9%	$5
Earnings Per Share Diluted Eps	$1 -47.1%	$2 -52.6%	$4
Earnings Per Share Weighted Average Shares Basic	$3.2B 0.9%	$3.2B 0.7%	$3.2B
Earnings Per Share Weighted Average Shares Diluted	$3.5B 0.9%	$3.5B 0.4%	$3.5B

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $14.7B

Investing cash flow $-15.5B

Financing cash flow $1.1B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$3.8B -46.5%	$7.1B -52.7%	$15.0B
Operating Activities Depreciation and Amortization	$5.0B 22.1%	$4.1B 23.7%	$3.3B
Operating Activities Stock Based Compensation	$2.8B 41.3%	$2.0B 10.3%	$1.8B
Operating Activities Deferred Income Taxes	$123.0M -74.2%	$477.0M 107.5%	$-6.3B
Operating Activities Changes In Operating Assets and Liabilities	$4.4B 13.1%	$3.9B -34.3%	$6.0B
Operating Activities net Cash From Operating Activities	$14.7B -1.2%	$14.9B 12.6%	$13.3B
Investing Activities Capital Expenditures	$8.5B -24.8%	$11.3B 27.5%	$8.9B
Investing Activities Business Acquisitions	$0	$0 -100.0%	$64.0M
Investing Activities Purchases of Investments	$37.1B 3.2%	$36.0B 88.1%	$19.1B
Investing Activities net Cash From Investing Activities	$-15.5B 17.6%	$-18.8B -20.6%	$-15.6B
Financing Activities Repayment of Debt	$5.5B 121.8%	$2.5B 85.0%	$1.4B
Financing Activities Proceeds From Stock Issuance	$1.2B -4.4%	$1.2B 77.3%	$700.0M
Financing Activities Other Financing Activities	$6.0M -57.1%	$14.0M -51.7%	$29.0M
Financing Activities net Cash From Financing Activities	$1.1B -70.4%	$3.9B 48.8%	$2.6B
Cash Reconciliation Effect of Exchange Rate On Cash	$171.0M 221.3%	$-141.0M -3625.0%	$4.0M
Cash Reconciliation net Change In Cash	$579.0M 480.9%	$-152.0M -157.4%	$265.0M
Cash Reconciliation Cash At Beginning of Period	$16.5B 2.3%	$16.1B -1.6%	$16.4B
Cash Reconciliation Cash At End of Period	$16.5B 2.3%	$16.1B -1.6%	$16.4B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+18.0%	+17.9%	+18.2%
Operating margin	+4.6%	+7.2%	+9.2%
Net margin	+4.0%	+7.3%	+15.5%
FCF margin	+6.6%	+3.7%	+4.5%
Growth
Revenue CAGR (3y)	+5.2%	+22.0%	+45.3%
Returns
ROE	+4.6%	+9.7%	+23.9%
ROA	+2.8%	+5.8%	+14.1%
ROIC	+4.3%	+8.7%	+17.5%
Liquidity
Current ratio	2.16x	2.02x	1.73x
Quick ratio	0.66x	0.71x	0.69x
Leverage
D/E	0.67x	0.66x	0.69x
Interest coverage	362.92x	336.95x	56.99x
Efficiency
Asset turnover	0.69x	0.80x	0.91x
Cash conversion cycle	+13d	+14d	+10d

Valuation

Price against fundamentals

TSLA $422 · 2025-09-16 · 364d old · FY2025

Market cap $1.5T

P/E 392.06x

P/S 15.69x

P/B 18.11x

EV $1.5T

EV/EBITDA —

FCF yield +0.4%

Dividend yield —

Notes

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