TSLANasdaqMotor Vehicles & Passenger Car BodiesFiscal year ends December 31
Tesla, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$368.06+13.34 (+3.76%)
Close on Oct 19, 2026
- Market cap
- $1.30T
- P/E (TTM)
- 340.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
18.0%−3.0 pts over 5 years
Operating margin
4.6%−1.7 pts over 5 years
Net margin
4.0%+1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.9% | +5.2% | +24.6% | +37.1% | |
| Gross profit | -2.0% | -6.4% | +20.9% | +33.9% | |
| Operating income | -38.5% | -31.7% | +16.9% | – | |
| Net income | -46.5% | -32.9% | +39.4% | – | |
| EPS, diluted | -47.1% | -33.2% | +38.8% | – | |
| Free cash flow | +73.7% | -6.3% | +17.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -23.1% | 5.0% | 4.9% | |
| Return on assets | -4.4% | 1.7% | 2.9% | |
| Current ratio | 1.07 | 1.88 | 2.16 | |
| Debt to equity | 1.47 | – | – | |
| Net debt to EBITDA | -18.85× | – | – | |
| Interest coverage | -3.4× | 2.7× | 12.9× | |
| Inventory turnover | 3.2× | 6.5× | 6.4× | |
| Capex to revenue | 18.3% | 10.0% | 9.0% | |
| Diluted shares | 2.16B | 3.25B | 3.53B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tesla generated $69.15B from operations and spent $42.41B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$69.15B
Used
$42.41B
Capital expenditure$42.41B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.0%
×Asset turnover0.73×
×Equity multiplier1.68×
=Return on equity, FY20254.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.0% | 0.73× | 1.68× | 4.9% |
| FY2024 | 7.3% | 0.85× | 1.69× | 10.5% |
| FY2023 | 15.5% | 1.02× | 1.76× | 27.9% |
| FY2022 | 15.4% | 1.13× | 1.93× | 33.5% |
| FY2021 | 10.3% | 0.94× | 2.18× | 21.1% |
| FY2020 | 2.3% | 0.73× | 3.00× | 5.0% |
| FY2019 | -3.5% | 0.77× | 5.55× | -14.9% |
| FY2018 | -4.5% | 0.74× | 6.37× | -21.3% |
| FY2017 | -16.7% | 0.46× | 5.71× | -43.6% |
| FY2016 | -9.6% | 0.46× | 5.27× | -23.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$3.79B
- Cash generatingOperating cash flow above zero$14.75B
- Return on assets improvedROA up on the prior year6.7% → 3.1%
- Earnings backed by cashOperating cash flow above net income$14.75B vs $3.79B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.02 → 2.16
- No dilutionShare count did not rise3.50B → 3.53B
- Gross margin improvedGross margin up on the prior year17.86% → 18.03%
- More efficientAsset turnover rose0.92 → 0.78