Is Tesla financially healthy?

On 30 September 2026 Tesla held 45.45B USD in cash and short-term investments against total debt of 16.45B USD. Its current ratio is 1.74: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 5.76B USD of free cash flow.

Tesla's revenue grew 24.6% a year over its last five fiscal years, from 31.54B USD in fiscal year 2020 to 94.83B USD in fiscal year 2025. Over the last twelve months it was up 8.3% on the twelve months before.

Where can I find Tesla's annual report (10-K)?

Tesla files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Tesla
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TSLA

Arincen ScoreBeta56/100

56/100B

378.01

USD

19.84

(5.54%)

Market Closed

Last updated: 9 Nov, 19:45 GMT-5 · Delayed 15 min

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.51Revenue estimate 28.64B

Q4 FY2026 · Earnings report

Wednesday 27 January

EPS estimate 0.51Revenue estimate 28.64B

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.51Revenue estimate 28.64B

Q4 FY2026 · Earnings report

Wednesday 27 January

EPS estimate 0.51Revenue estimate 28.64B

Overview Financials Signals Ideas News Forecast Earnings Company

Tesla financials

Yes. Tesla earned 3.22B USD of net income over the last twelve months, 3.1% of its revenue. It made a profit in 6 of its 20 fiscal years since 2006. Its last loss was in fiscal year 2019.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 103.57B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 3.22B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 5.76B USD
Cash and short-term investments: 45.45B USD
Total debt: 16.45B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 89.29B USD

Cash, debt and equity as of 30 Sept 2026.

Tesla earnings

Next earnings · Q4 FY2026

27 Jan 2027

EPS estimate

0.51 USD

Revenue estimate

28.64B USD

Last quarter · Q3 FY2026

EPS0.48Beat +5.5%Revenue28.05BMissed -0.0%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q3 FY2028	—	1.00	—	—	—	44.28B	—	—	—
Q2 FY2028	—	0.98	—	—	—	39.91B	—	—	—
Q1 FY2028	—	0.91	—	—	—	35.13B	—	—	—
Q4 FY2026	27 Jan 2027	0.51	—	—	+2.00%	28.64B	—	—	+15.01%
Q3 FY2026	21 Oct 2026	0.46	0.48	+5.49%	-4.00%	28.06B	28.05B	-0.04%	-0.17%
Q2 FY2026	22 Jul 2026	0.53	0.33	-38.09%	-17.50%	26.42B	28.24B	+6.86%	+25.52%
Q1 FY2026	22 Apr 2026	0.35	0.41	+15.85%	+51.85%	22.10B	22.39B	+1.30%	+15.78%
Q4 FY2025	28 Jan 2026	0.45	0.50	+9.94%	-31.51%	24.78B	24.90B	+0.50%	-3.14%
Q3 FY2025	22 Oct 2025	0.56	0.50	-10.39%	-30.56%	26.54B	28.10B	+5.86%	+11.57%
Q2 FY2025	23 Jul 2025	0.40	0.40	+0.70%	-23.08%	22.28B	22.50B	+0.97%	-11.78%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	2.86	—	—	+41.54%	144.34B	—	—	+18.43%
FY2027	2.02	—	—	+20.20%	121.88B	—	—	+13.33%
FY2026	1.68	—	—	+0.76%	107.55B	—	—	+13.41%
FY2025	1.66	1.67	+0.87%	-30.99%	94.91B	94.83B	-0.09%	-2.93%
FY2024	2.45	2.42	-1.39%	-22.68%	99.66B	97.69B	-1.98%	+0.95%
FY2023	3.07	3.13	+2.07%	-23.10%	97.46B	96.77B	-0.70%	+18.80%
FY2022	3.96	4.07	+2.89%	+80.09%	82.14B	81.46B	-0.83%	+51.35%

Tesla growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 103.57B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 3.22B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 19.29%
Operating margin: 3.35%
Net margin: 3.11%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	94.83B	-2.93%	3.79B	-46.79%	18.03%	4.59%	4.00%	11.76B	-20.02%
FY2024	97.69B	+0.95%	7.13B	-52.46%	17.86%	7.24%	7.30%	14.71B	-0.59%
FY2023	96.77B	+18.80%	15.00B	+19.20%	18.25%	9.19%	15.50%	14.80B	-15.22%
FY2022	81.46B	+51.35%	12.58B	+127.79%	25.60%	16.76%	15.45%	17.45B	+81.33%
FY2021	53.82B	+70.67%	5.52B	+666.16%	25.28%	12.12%	10.26%	9.63B	+127.86%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	28.05B	787.00M	19.59%	2.56%	2.81%
Q2 FY2026	28.24B	1.11B	16.83%	1.41%	3.95%
Q1 FY2026	22.39B	477.00M	21.08%	4.20%	2.13%
Q4 FY2025	24.90B	840.00M	20.12%	5.66%	3.37%
Q3 FY2025	28.10B	1.37B	17.99%	5.78%	4.89%

How Tesla makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Automotive69.53B 73.3%

Energy Generation And Storage12.77B 13.5%

Services And Other12.53B 13.2%

Revenue94.83B 100.0%

Cost of revenue77.73B 82.0%

Gross profit17.09B 18.0%

Research and development6.41B 6.8%

Selling and administration5.83B 6.2%

Other operating expenses494.00M 0.5%

Operating income4.36B 4.6%

Tax1.42B 1.5%

Net income3.79B 4.0%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Tesla revenue breakdown

By product

FY2025

73.3%Automotive13.5%Energy Generation And Storage13.2%Services And Other

Segment	Revenue	Share of revenue	Change on the year
Automotive	69.53B	73.3%	-9.8%
Energy Generation And Storage	12.77B	13.5%	+26.6%
Services And Other	12.53B	13.2%	+18.9%

By region

FY2025

50.2%United States27.7%Other Countries22.1%China

Region	Revenue	Share of revenue	Change on the year
United States	47.63B	50.2%	-0.2%
Other Countries	26.24B	27.7%	-9.6%
China	20.96B	22.1%	+0.1%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	14.75B	6.22B
FY2024	14.92B	3.58B
FY2023	13.26B	4.36B
FY2022	14.72B	7.55B
FY2021	11.50B	3.48B
FY2020	5.94B	2.70B
FY2019	2.41B	968.00M
FY2018	2.10B	-221.00M
FY2017	-61.00M	-4.14B
FY2016	-123.83M	-1.56B

Tesla financial health

Full balance sheet

Cash and short-term investments: 45.45B USD
Total debt: 16.45B USD
Net cash: 29.00B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 5.76B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 1.74
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 0.18
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 6 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 14.60

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	44.06B	8.38B	6.22B
FY2024	36.56B	13.62B	3.58B
FY2023	29.09B	9.57B	4.36B
FY2022	22.19B	5.75B	7.55B
FY2021	17.71B	8.87B	3.48B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	137.81B	54.94B	82.14B
FY2024	122.07B	48.39B	72.91B
FY2023	106.62B	43.01B	62.63B
FY2022	82.34B	36.44B	44.70B
FY2021	62.13B	30.55B	30.19B
FY2020	52.15B	28.47B	22.23B
FY2019	34.31B	26.20B	6.62B
FY2018	29.74B	23.43B	4.92B
FY2017	28.66B	23.02B	4.24B
FY2016	22.66B	16.76B	4.75B

Tesla valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 381.83
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 224.65
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 14.43
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 16.73
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 130.05

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

1.49T USD

Total debt

16.45B USD

−

Cash and short-term investments

45.45B USD

Enterprise value

1.47T USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	132.04	—	—	—	—
FY2027 (est.)	186.89	132.04	—	—	—
FY2026 (est.)	224.65	186.89	—	—	—
Now (TTM)	381.83	191.38	14.43	16.73	130.05
FY2025	381.12	267.23	15.29	17.66	122.60
FY2024	181.08	243.80	13.22	17.71	87.61
FY2023	52.53	101.12	8.15	12.59	52.83
FY2022	30.64	40.16	4.73	8.62	21.49
FY2021	188.37	89.09	19.37	34.53	107.39

Tesla against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Amazon.com, The Home Depot, and McDonald's, the US Consumer Cyclical companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median381.8
29.9411.6
Gross marginBelow its median18.0%
17.9%25.6%
Against its peers: 4 of 4Peers' median 50.3%
Operating marginLowest in 5 years4.6%
4.6%16.8%
Against its peers: 4 of 4Peers' median 12.7%
Net marginLowest in 5 years4.0%
4.0%15.5%
Against its peers: 4 of 4Peers' median 10.8%
Return on equityLowest in 5 years4.6%
4.6%28.1%
Against its peers: 3 of 3Peers' median 64.7%
Free cash flow marginAbove its median6.6%
3.7%9.3%
Against its peers: 3 of 4Peers' median 7.7%
Revenue growthLowest in 5 years-2.9%
-2.9%70.7%
Against its peers: 4 of 4Peers' median 3.7%
EPS growthBelow its median-47.0%
-52.7%676.2%
Against its peers: 4 of 4Peers' median 4.9%
Debt to EBITDAAt its median0.71×
0.33×0.93×
Against its peers: 1 of 4Peers' median 2.60×
Current ratioHighest in 5 years2.16
1.382.16
Against its peers: 1 of 4Peers' median 1.05

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	381.8	29.9411.6	Above its median	—
Gross margin	18.0%	17.9%25.6%	Below its median	4 of 4
Operating margin	4.6%	4.6%16.8%	Lowest in 5 years	4 of 4
Net margin	4.0%	4.0%15.5%	Lowest in 5 years	4 of 4
Return on equity	4.6%	4.6%28.1%	Lowest in 5 years	3 of 3
Free cash flow margin	6.6%	3.7%9.3%	Above its median	3 of 4
Revenue growth	-2.9%	-2.9%70.7%	Lowest in 5 years	4 of 4
EPS growth	-47.0%	-52.7%676.2%	Below its median	4 of 4
Debt to EBITDA	0.71×	0.33×0.93×	At its median	1 of 4
Current ratio	2.16	1.382.16	Highest in 5 years	1 of 4

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Tesla ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 52.65%
Institutional holders: 4,635 (+126)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 71.45%

Who owns the shares

Institutions 52.7% Others 47.3%

As of 30 Jun 2026

Shares free to trade

Free float 2.82B shares ·71.4% Closely held 1.13B shares ·28.6%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q3 2026	1	6.54K	9.14K
Q2 2026	18	304.01M	417.57M
Q1 2026	45	626.56K	220.34K
Q4 2025	2	423.75M	306.72K

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	3.23B	3.53B	+0.86%
FY2024	3.20B	3.50B	+0.44%
FY2023	3.17B	3.48B	+0.22%
FY2022	3.13B	3.48B	+2.63%
FY2021	2.96B	3.39B	+4.22%

Common questions about Tesla's financials

Source: Financial Modeling Prep

Tesla
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TSLA

Tesla financials

Tesla earnings

Revenue

EPS

Tesla growth and profitability

Revenue / Net income

How Tesla makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Tesla revenue breakdown

By product

By region

Operating and free cash flow

Tesla financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Tesla valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Tesla against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Tesla ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Tesla's financials

Is Tesla profitable?

Is Tesla financially healthy?

Is Tesla growing?

Where can I find Tesla's annual report (10-K)?

Need help?

Tesla DQuotes are delayed by 15 minutes

TSLA

Tesla financials

Tesla earnings

Revenue

EPS

Tesla growth and profitability

Revenue / Net income

How Tesla makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Tesla revenue breakdown

By product

By region

Operating and free cash flow

Tesla financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Tesla valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Tesla against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Tesla ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Tesla's financials

Is Tesla profitable?

Is Tesla financially healthy?

Is Tesla growing?

Where can I find Tesla's annual report (10-K)?

Need help?

Tesla
D
Quotes are delayed by 15 minutes