Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Tesla Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	18,289)	15,587)	16,352)	16,139)	18,111)	14,635)	11,805)	16,398)	15,932)	15,296)	16,048)	16,253)	19,532)	18,324)	17,505)	17,576)	16,065)	16,229)	17,141)	19,384)	14,531)	8,615)	8,080)
Short-term investments	23,358)	21,195)	20,644)	20,424)	15,537)	16,085)	15,058)	12,696)	10,145)	7,779)	6,354)	5,932)	1,575)	591)	508)	131)	30)	—)	—)	—)	—)	—)	—)
Accounts receivable, net	4,703)	3,838)	3,782)	4,418)	3,313)	3,737)	3,887)	3,508)	2,520)	3,447)	2,993)	2,952)	2,192)	2,081)	2,311)	1,913)	1,962)	2,129)	1,890)	1,886)	1,757)	1,485)	1,274)
Inventory	12,276)	14,570)	13,706)	12,017)	14,530)	14,195)	16,033)	13,626)	13,721)	14,356)	14,375)	12,839)	10,327)	8,108)	6,691)	5,757)	5,199)	4,733)	4,132)	4,101)	4,218)	4,018)	4,494)
Prepaid expenses and other current assets	6,027)	5,943)	4,905)	5,362)	4,888)	4,325)	3,752)	3,388)	2,708)	2,997)	3,227)	2,941)	2,364)	2,118)	2,035)	1,723)	1,746)	1,602)	1,542)	1,346)	1,238)	1,218)	1,045)
Current assets	64,653)	61,133)	59,389)	58,360)	56,379)	52,977)	50,535)	49,616)	45,026)	43,875)	42,997)	40,917)	35,990)	31,222)	29,050)	27,100)	25,002)	24,693)	24,705)	26,717)	21,744)	15,336)	14,893)
Operating lease vehicles, net	5,019)	5,230)	5,477)	5,581)	5,380)	5,541)	5,736)	5,989)	6,119)	5,935)	5,473)	5,035)	4,824)	4,782)	4,745)	4,511)	4,167)	3,748)	3,396)	3,091)	2,742)	2,524)	2,527)
Solar energy systems, net	4,673)	4,788)	4,855)	4,924)	5,040)	5,102)	5,162)	5,229)	5,293)	5,365)	5,427)	5,489)	5,562)	5,624)	5,686)	5,765)	5,821)	5,883)	5,933)	5,979)	6,025)	6,069)	6,106)
Property, plant and equipment, net	39,407)	38,574)	37,088)	35,836)	36,116)	32,902)	31,436)	29,725)	27,744)	26,389)	24,969)	23,548)	21,926)	21,093)	20,027)	18,884)	17,298)	15,665)	13,868)	12,747)	11,848)	11,009)	10,638)
Operating lease right-of-use assets	5,783)	5,633)	5,330)	5,160)	4,867)	4,563)	4,367)	4,180)	3,637)	3,352)	2,800)	2,563)	2,251)	2,185)	2,181)	2,016)	1,962)	1,734)	1,647)	1,558)	1,375)	1,274)	1,197)
Digital assets	1,315)	1,235)	951)	1,076)	184)	184)	184)	184)	184)	184)	184)	184)	218)	218)	1,261)	1,260)	1,260)	1,311)	1,331)	—)	—)	—)	—)
Intangible assets, net	131)	138)	144)	150)	158)	164)	171)	178)	191)	202)	204)	215)	228)	241)	254)	257)	269)	283)	299)	313)	318)	312)	323)
Goodwill	257)	258)	248)	244)	253)	249)	250)	253)	250)	263)	195)	194)	191)	196)	200)	200)	201)	203)	206)	207)	203)	196)	193)
Deferred tax assets	6,637)	6,721)	6,687)	6,524)	6,486)	6,692)	6,769)	6,733)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other non-current assets	5,860)	4,857)	4,942)	4,215)	4,989)	4,458)	4,616)	4,531)	5,497)	5,026)	4,584)	4,193)	3,236)	2,952)	2,634)	2,138)	1,854)	1,626)	1,587)	1,536)	1,436)	1,415)	1,373)
Non-current assets	69,082)	67,434)	65,722)	63,710)	63,473)	59,855)	58,691)	57,002)	48,915)	46,716)	43,836)	41,421)	38,436)	37,291)	36,988)	35,031)	32,832)	30,453)	28,267)	25,431)	23,947)	22,799)	22,357)
Total assets	133,735)	128,567)	125,111)	122,070)	119,852)	112,832)	109,226)	106,618)	93,941)	90,591)	86,833)	82,338)	74,426)	68,513)	66,038)	62,131)	57,834)	55,146)	52,972)	52,148)	45,691)	38,135)	37,250)

The analysis of the quarterly financial data reveals several notable trends in asset composition and growth over the observed periods.

Cash and Cash Equivalents: The cash and cash equivalents show significant fluctuation, with an overall increasing trend from the end of 2019 through the initial quarters of 2021, peaking near the fourth quarter of 2020. Thereafter, while some quarters reflect declines, the balance maintains a relatively high level, exhibiting periodic increases and decreases but remaining within a high range through the end of the series.
Short-term Investments: This category begins with minimal or no data but shows rapid growth beginning mid-2021 onward. The rise is particularly strong in late 2022 and continues through 2025, indicating an increasing allocation of liquid funds into short-term investments, suggesting a strategic shift or optimization of available cash resources.
Accounts Receivable, Net: The accounts receivable demonstrate notable growth over the period, increasing in value with some quarter-to-quarter volatility. There is an especially pronounced rise during late 2022 and early 2023, indicating growth in credit sales or extended payment terms. However, some fluctuations suggest varying collection efficiency or seasonal sales patterns.
Inventory: Inventory values reveal a steady upward trajectory starting around 2020, accelerating notably throughout 2022 and early 2023 with peak levels reached by mid-2023. Thereafter, inventory values display variability and a slight decline toward 2025, which may signal inventory management adjustments or changes in production and sales cadence.
Prepaid Expenses and Other Current Assets: This category steadily increases over the period, reflecting a growing allocation of resources tied up in prepaid and other current asset accounts. The growth persists into 2024 and 2025, denoting possibly expanded operational scale or shifts in payment timing.
Current Assets: Overall, current assets follow a strong upward trend across the quarters, with notable acceleration starting mid-2021. This growth aligns with increases in cash, short-term investments, inventories, and receivables, underscoring an expanding asset base to support operations.
Operating Lease Vehicles, Net: The net value of operating lease vehicles exhibits steady growth through 2022 and early 2023, peaking around the third quarter of 2023. Subsequently, a gradual decline occurs, suggesting a phase of lease expirations or disposals exceeding new acquisitions.
Solar Energy Systems, Net: There is a consistent but gradual decline over time in the net value of solar energy systems, indicating depreciation or potential asset disposals without comparable reinvestment, which may denote changing strategic emphasis or asset lifecycle progression.
Property, Plant and Equipment, Net: This asset class shows a robust and continuous increase throughout the observed quarters, nearly doubling in value by the end of the period. The upward trend highlights ongoing investments in capital expenditures, enhancing productive capacity or infrastructure.
Operating Lease Right-of-Use Assets: The right-of-use lease assets display steady growth, with marked increases especially from 2022 forward. This suggests expansion in leased operational facilities or equipment, consistent with broader scale expansion trends.
Digital Assets: Data on digital assets begins mid-series and reflects relatively low, stable values with a minor uptick toward late 2024 and onward, suggesting a modest investment focus in this asset class.
Intangible Assets, Net: Intangible assets show a gradual decline, consistent with amortization and lack of significant additions, illustrating a slowing accumulation or systematic consumption of these assets over time.
Goodwill: Goodwill remains relatively stable with minor fluctuations, including an isolated increase in mid-2023, which may suggest acquisition activity or revaluation adjustments within that timeframe.
Deferred Tax Assets: Deferred tax assets appear only in later periods, maintaining relatively stable values with minor quarter-by-quarter variations, reflecting deferred tax benefits connected with the company’s operational and financial strategies.
Other Non-current Assets: Other non-current assets experience steady growth with occasional short-term declines, indicating fluctuations in long-term asset components other than fixed and intangible assets amidst expansion efforts.
Non-current Assets: Non-current assets overall manifest strong growth, particularly accelerating from late 2022 into 2025, showcasing ongoing investments in property, equipment, and lease-related assets. This growth supports a long-term strategic expansion in asset base and operational capability.
Total Assets: Total assets demonstrate a consistent and meaningful increase throughout the quarters analyzed. The rise is especially pronounced starting in 2021, continuing steadily through 2025. The growth reflects a combined increase across current and non-current asset categories, underscoring overall business expansion and capitalization.

Assets: Selected Items

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Current Assets: Selected Items

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Tesla Inc. (NASDAQ:TSLA)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data