Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2010
- Current Ratio since 2010
- Price to Operating Profit (P/OP) since 2010
- Aggregate Accruals
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Tesla Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance presented demonstrates significant fluctuations over the analyzed period, spanning from March 2021 to December 2025. Revenue growth was initially strong, peaking in late 2022, before experiencing a notable decline in early 2023, followed by a recovery and subsequent stabilization. A detailed examination of revenue components and profitability metrics reveals key trends.
- Revenue Composition
- Automotive revenues consistently represent the largest portion of total revenues, exhibiting substantial growth from 2021 to 2022. However, a decrease is observed in the first half of 2023, followed by a partial recovery. Automotive regulatory credits contribute a significant, though fluctuating, revenue stream. Energy generation and storage revenues show a generally upward trend, with notable increases in the latter half of the period. Services and other revenues also demonstrate consistent growth throughout the analyzed timeframe.
- Profitability Analysis
- Gross profit generally follows the trend of total revenues, increasing significantly through 2022 before experiencing a dip in early 2023. A subsequent recovery is evident. Operating expenses have consistently increased over the period, with research and development and selling, general, and administrative expenses being the primary drivers. Income from operations mirrors the trends in gross profit, with a peak in 2022 followed by a decline and recovery. Net income attributable to common stockholders shows a similar pattern, with a substantial increase in 2022 and a significant, though temporary, spike in late 2023, likely influenced by a large benefit from income taxes. The period ending December 2025 shows a return to levels closer to those observed in 2022.
- Cost of Revenues
- The cost of automotive revenues, energy generation and storage, and services and other all increased over the period. The automotive cost of revenues is the largest component, and its growth closely tracks automotive sales. The increase in cost of revenues contributed to the decline in gross profit observed in early 2023.
- Specific Revenue Streams
- Automotive regulatory credits, while contributing to revenue, demonstrate volatility. The contribution from automotive leasing remains relatively stable, though it experienced a slight decline in the latter part of the period. The energy generation and storage segment shows consistent growth, indicating increasing importance to overall revenue.
Overall, the financial performance demonstrates a period of rapid growth followed by a period of adjustment and stabilization. While revenue and profitability experienced a downturn in early 2023, they have since shown signs of recovery. The company’s ability to manage operating expenses and maintain growth in emerging segments like energy generation and storage will be crucial for sustained financial success.