Tuesday 27 October 2026
Export TSLA’s income statement to Excel — free account
Tesla, Inc.
TSLA Consumer Cyclical Auto Manufacturers
Tesla, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $94.8 billion, down 2.93% from fiscal 2024. In the quarter to June 2026, revenue grew 25.5%, EPS fell 5.56%, free cash flow fell 852.7% and total debt rose 9.75%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100.
391.13
18.91
+5.08%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Price, $ | |||||||||||||||||
| Price, $ | Low | 9.40 | 14.06 | 16.31 | 11.80 | 23.37 | 179.83 | 108.24 | 101.81 | 138.80 | 214.25 | +41.5% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| High | 17.96 | 25.97 | 25.83 | 29.02 | 239.57 | 414.50 | 402.67 | 299.29 | 488.54 | 498.83 | +44.7% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| People | |||||||||||||||||
| People | Employees | 17,782 | 37,543 | 48,817 | 48,016 | 70,757 | 99,290 | 127,855 | 140,473 | 125,665 | 134,785 | +25.2% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| Revenue/emp, $m | 0.39 | 0.31 | 0.44 | 0.51 | 0.45 | 0.54 | 0.64 | 0.69 | 0.78 | 0.70 | +6.7% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 7,000 | 11,759 | 21,461 | 24,578 | 31,536 | 53,823 | 81,462 | 96,773 | 97,690 | 94,827 | +33.6% | 107,716 | 122,102 | 145,715 | +15.4% | |
| Gross margin, % | 22.85 | 18.90 | 18.83 | 16.56 | 21.02 | 25.28 | 25.60 | 18.25 | 17.86 | 18.03 | (4.8) pt | ||||||
| EBT | (746) | (2,209) | (1,005) | (665) | 1,154 | 6,343 | 13,719 | 9,973 | 8,990 | 5,278 | n/m | ||||||
| EBT margin, % | (10.66) | (18.79) | (4.68) | (2.71) | 3.66 | 11.78 | 16.84 | 10.31 | 9.20 | 5.57 | +16.2 pt | ||||||
| Net income | (773) | (2,241) | (1,063) | (775) | 862 | 5,644 | 12,587 | 14,974 | 7,153 | 3,855 | n/m | ||||||
| Depreciation | 1,042 | 1,727 | 2,060 | 2,154 | 2,322 | 2,911 | 3,747 | 4,667 | 5,368 | 6,148 | +21.8% | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 3.24 | 4.72 | 8.39 | 9.24 | 11.27 | 18.19 | 26.03 | 30.49 | 30.56 | 29.40 | +27.8% | |||||
| Earnings | (0.31) | (0.79) | (0.38) | (0.33) | 0.21 | 1.87 | 3.62 | 4.73 | 2.23 | 1.18 | n/m | ||||||
| Cash flow | (0.06) | (0.02) | 0.82 | 0.90 | 2.12 | 3.89 | 4.70 | 4.18 | 4.67 | 4.57 | n/m | ||||||
| Capex | (0.59) | (1.37) | (0.82) | (0.50) | (1.13) | (2.61) | (1.99) | (2.80) | (3.55) | (2.64) | +18.1% | ||||||
| Free cash flow | (0.65) | (1.40) | 0.00 | 0.40 | 0.99 | 1.28 | 2.71 | 1.37 | 1.12 | 1.93 | n/m | ||||||
| Book value | 2.56 | 2.10 | 2.25 | 2.81 | 8.25 | 10.48 | 14.53 | 19.96 | 23.03 | 25.68 | +29.2% | ||||||
| Shares, m | 2,163 | 2,490 | 2,559 | 2,661 | 2,798 | 2,959 | 3,130 | 3,174 | 3,197 | 3,225 | +4.5% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 966.79 | 190.42 | 26.87 | 52.63 | 174.82 | 381.12 | 179.3 | |||||
| P/S | 4.47 | 4.53 | 2.65 | 3.02 | 20.87 | 19.37 | 4.15 | 8.15 | 13.22 | 15.29 | 9.6 | ||||||
| P/B | 5.65 | 10.17 | 9.86 | 9.94 | 28.52 | 33.61 | 7.44 | 12.44 | 17.54 | 17.51 | 15.3 | ||||||
| EV/Sales | 4.98 | 5.10 | 3.02 | 3.32 | 20.66 | 19.19 | 3.94 | 7.91 | 12.93 | 14.92 | 9.6 | ||||||
| EV/FCF | (24.80) | (17.26) | (21,625.74) | 76.10 | 234.72 | 273.52 | 37.79 | 175.69 | 352.62 | 227.44 | (2,029.0) | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | (124) | (61) | 2,098 | 2,405 | 5,943 | 11,497 | 14,724 | 13,256 | 14,923 | 14,747 | n/m | |||||
| Capex | (1,281) | (3,415) | (2,101) | (1,332) | (3,167) | (7,710) | (6,231) | (8,899) | (11,342) | (8,527) | +23.4% | ||||||
| Free cash flow | (1,405) | (3,476) | (3) | 1,073 | 2,776 | 3,787 | 8,493 | 4,357 | 3,581 | 6,220 | n/m | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 433 | (1,104) | (1,686) | 1,436 | 12,469 | 7,395 | 14,208 | 20,868 | 29,539 | 36,928 | +63.9% | |||||
| Total debt | 7,029 | 10,315 | 11,972 | 11,634 | 9,607 | 5,245 | 1,597 | 2,857 | 5,757 | 8,376 | +2.0% | ||||||
| Net debt | 3,531 | 6,792 | 8,093 | 5,366 | (9,777) | (12,462) | (20,588) | (26,237) | (30,806) | (35,683) | n/m | ||||||
| Shareholders’ equity | 5,538 | 5,235 | 5,757 | 7,467 | 23,075 | 31,015 | 45,489 | 63,367 | 73,617 | 82,807 | +35.1% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | (4.39) | (7.65) | (3.34) | (2.69) | 1.60 | 9.67 | 17.42 | 15.87 | 6.20 | 2.92 | +7.3 pt | |||||
| ROIC | (4.60) | (8.48) | (1.75) | (0.34) | 9.37 | 21.97 | 34.28 | 14.97 | 10.33 | 5.78 | +10.4 pt | ||||||
| ROE | (20.38) | (36.43) | (17.76) | (13.04) | 4.52 | 20.43 | 32.90 | 27.55 | 10.35 | 4.85 | +25.2 pt | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
Where the money comes from and where it goes Fiscal 2025
| United States | 47,627 | 50.23% |
|---|---|---|
| Other international | 26,238 | 27.67% |
| CHINA | 20,962 | 22.11% |
| Gross margin | 18.03% | |
| Operating margin | 4.59% | |
| Pre-tax margin | 5.57% |
Tesla, Inc. vs peers in Auto Manufacturers (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TSLA Tesla, Inc. | $1.55T | 331× | 368× | +25.52% (above 0%: growing) | −5.56% (below 0%: shrinking) | −852.74% (below 0%: shrinking) | 16.83% | 1.41% | |
| TM Toyota Motor Corporation | $234.0B | 8.5× | 9.9× | +4.07% (above 0%: growing) | +11.16% (above 0%: growing) | −702.74% (below 0%: shrinking) | 18.03% | 7.86% | Compare |
| GM General Motors Company | $64.4B | 36.7× | 7.0× | +1.92% (above 0%: growing) | −25.77% (below 0%: shrinking) | −7.52% (below 0%: shrinking) | 7.61% | 3.04% | Compare |
| RACE Ferrari N.V. | $62.6B | 36.5× | 35.5× | +11.03% (above 0%: growing) | +12.96% (above 0%: growing) | +0.50% (above 0%: growing) | 52.59% | 31.22% | Compare |
| F Ford Motor Company | $46.2B | — (loss-making) | 10.2× | −3.76% (below 0%: shrinking) | n/m | −53.58% (below 0%: shrinking) | 12.59% | 1.32% | Compare |
| HMC Honda Motor Co., Ltd. | $44.6B | 6.0× | 11.5× | +4.19% (above 0%: growing) | +105.66% (above 0%: growing) | +20.08% (above 0%: growing) | 22.24% | 8.76% | Compare |
| RIVN Rivian Automotive, Inc. | $16.6B | — (loss-making) | — (loss-making) | +27.24% (above 0%: growing) | n/m | −113.32% (below 0%: shrinking) | 10.80% | (50.42%) | Compare |
| STLA Stellantis N.V. | $11.8B | 0.6× | 10.5× | −44.85% (below 0%: shrinking) | −96.94% (below 0%: shrinking) | −164.34% (below 0%: shrinking) | 10.98% | 2.26% | Compare |
| LI Li Auto Inc. Sponsored ADR | $9.2B | — (loss-making) | — (loss-making) | −10.40% (below 0%: shrinking) | n/m | +291.23% (above 0%: growing) | 11.05% | (8.96%) | Compare |
| Median of peers | $45.4B | 8.5× | 10.4× | +2.99% | +11.16% | −30.55% | 11.82% | 2.65% |
Business profile
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
42.53%
Held by the ten largest
23.66%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 263.37m | 6.67% | +2.22m |
| BlackRock | 214.12m | 5.42% | +6.03m |
| State Street | 117.46m | 2.97% | +2.76m |
| Geode Capital Management | 68.91m | 1.75% | +911.61k |
| Capital Group | 55.67m | 1.41% | +2.32m |
| Invesco | 55.46m | 1.40% | +583.29k |
| JPMorgan Chase | 41.97m | 1.06% | −4.10m |
| Fidelity (FMR) | 39.77m | 1.01% | +3.74m |
| Morgan Stanley | 38.87m | 0.98% | −305.31k |
| Norges Bank | 38.81m | 0.98% | +38.81m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 19 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 158.36b | 10.37b | 191.00 |
Ownership
Directors and executive officers, together
20.00%
Elon Musk
19.80%
Vanguard Capital Management
5.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Tesla, Inc. (TSLA) Latest News
27 Oct
26 Oct
TSLA metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Tesla, Inc. was founded in 2003 and is headquartered in Austin. It designs, develops, manufactures, sells and leases fully electric vehicles, energy generation systems and energy storage systems.
Its automotive range includes the Model 3 sedan, Model Y compact SUV, Model S sedan, Model X SUV, Cybertruck pickup and Tesla Semi commercial vehicle. It also sells used vehicles, maintenance and collision services, parts, insurance, paid charging, merchandise and automotive regulatory credits.