Net Profit Margin
since 2010
Calculation
Tesla Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss) attributable to common stockholders1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 4.00% | = | 100 | × | 3,794) | ÷ | 94,827) |
| Dec 31, 2024 | 7.26% | = | 100 | × | 7,091) | ÷ | 97,690) |
| Dec 31, 2023 | 15.50% | = | 100 | × | 14,997) | ÷ | 96,773) |
| Dec 31, 2022 | 15.41% | = | 100 | × | 12,556) | ÷ | 81,462) |
| Dec 31, 2021 | 10.25% | = | 100 | × | 5,519) | ÷ | 53,823) |
| Dec 31, 2020 | 2.29% | = | 100 | × | 721) | ÷ | 31,536) |
| Dec 31, 2019 | -3.51% | = | 100 | × | (862) | ÷ | 24,578) |
| Dec 31, 2018 | -4.55% | = | 100 | × | (976) | ÷ | 21,461) |
| Dec 31, 2017 | -16.68% | = | 100 | × | (1,961) | ÷ | 11,759) |
| Dec 31, 2016 | -9.64% | = | 100 | × | (675) | ÷ | 7,000) |
| Dec 31, 2015 | -21.96% | = | 100 | × | (889) | ÷ | 4,046) |
| Dec 31, 2014 | -9.19% | = | 100 | × | (294) | ÷ | 3,198) |
| Dec 31, 2013 | -3.68% | = | 100 | × | (74) | ÷ | 2,013) |
| Dec 31, 2012 | -95.88% | = | 100 | × | (396) | ÷ | 413) |
| Dec 31, 2011 | -124.56% | = | 100 | × | (254) | ÷ | 204) |
| Dec 31, 2010 | -132.19% | = | 100 | × | (154) | ÷ | 117) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
1 US$ in millions
The net profit margin exhibited significant volatility between 2010 and 2025. Initially, the company experienced substantial negative net profit margins, indicating consistent net losses relative to revenue. Over time, a clear progression towards profitability is observed, culminating in positive and increasingly robust margins in recent years, followed by a slight decline in the latest two periods.
- Early Years (2010-2015)
- From 2010 through 2015, the net profit margin remained consistently negative. The most substantial loss occurred in 2015, with a net profit margin of -21.96%. This period reflects a phase of high investment and operational challenges, resulting in losses despite increasing revenues. The magnitude of the negative margins decreased slightly from 2010 to 2012, but then widened again before peaking in 2015.
- Transition to Profitability (2016-2019)
- The period between 2016 and 2019 demonstrates a transition towards profitability. While 2016 and 2017 still showed negative net profit margins, the losses were progressively reduced. By 2018 and 2019, the net profit margin had turned positive, albeit remaining relatively modest at -4.55% and -3.51% respectively. This suggests improving operational efficiency and cost management.
- Period of Strong Growth (2020-2023)
- From 2020 to 2023, the net profit margin experienced substantial growth. It increased from 2.29% in 2020 to 15.41% in 2022 and peaked at 15.50% in 2023. This indicates a period of significant profitability, likely driven by increased sales volume, improved cost controls, and potentially favorable market conditions. The substantial increase in net income relative to revenue during these years is noteworthy.
- Recent Moderation (2024-2025)
- The most recent two years, 2024 and 2025, show a moderation in the net profit margin. It decreased to 7.26% in 2024 and further to 4.00% in 2025. While still positive, this represents a decline from the peak levels observed in 2022 and 2023. This could be attributed to increased competition, rising input costs, or a slowdown in revenue growth. Further investigation would be needed to determine the underlying causes.
Overall, the trend in net profit margin demonstrates a significant improvement over the period examined, transitioning from consistent losses to substantial profitability, followed by a recent stabilization at a lower, but still positive, level. The fluctuations suggest sensitivity to both internal operational factors and external market dynamics.
Comparison to Competitors
Tesla Inc., net profit margin, long-term trends, comparison to competitors
| Tesla Inc. | Ford Motor Co. | General Motors Co. | |
|---|---|---|---|
| Dec 31, 2025 | 4.00% | — | 1.61% |
| Dec 31, 2024 | 7.26% | 3.40% | 3.50% |
| Dec 31, 2023 | 15.50% | 2.62% | 6.42% |
| Dec 31, 2022 | 15.41% | -1.33% | 6.90% |
| Dec 31, 2021 | 10.25% | 14.22% | 8.82% |
| Dec 31, 2020 | 2.29% | -1.10% | 5.91% |
| Dec 31, 2019 | -3.51% | 0.03% | 5.49% |
| Dec 31, 2018 | -4.55% | 2.48% | 6.02% |
| Dec 31, 2017 | -16.68% | 5.22% | -2.90% |
| Dec 31, 2016 | -9.64% | 3.25% | 6.01% |
| Dec 31, 2015 | -21.96% | 5.25% | 6.64% |
| Dec 31, 2014 | -9.19% | 2.35% | 2.61% |
| Dec 31, 2013 | -3.68% | 5.13% | 3.51% |
| Dec 31, 2012 | -95.88% | 4.48% | 4.12% |
| Dec 31, 2011 | -124.56% | 15.77% | 6.17% |
| Dec 31, 2010 | -132.19% | 5.50% | 4.56% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
Comparison to Sector (Automobiles & Components)
Tesla Inc., net profit margin, long-term trends, comparison to sector (automobiles & components)
| Tesla Inc. | Automobiles & Components | |
|---|---|---|
| Dec 31, 2025 | 4.00% | — |
| Dec 31, 2024 | 7.26% | 4.29% |
| Dec 31, 2023 | 15.50% | 7.01% |
| Dec 31, 2022 | 15.41% | 5.48% |
| Dec 31, 2021 | 10.25% | 11.40% |
| Dec 31, 2020 | 2.29% | 2.29% |
| Dec 31, 2019 | -3.51% | 2.03% |
| Dec 31, 2018 | -4.55% | 3.54% |
| Dec 31, 2017 | -16.68% | 0.61% |
| Dec 31, 2016 | -9.64% | 4.37% |
| Dec 31, 2015 | -21.96% | 5.57% |
| Dec 31, 2014 | -9.19% | 2.36% |
| Dec 31, 2013 | -3.68% | 4.23% |
| Dec 31, 2012 | -95.88% | 4.13% |
| Dec 31, 2011 | -124.56% | 10.51% |
| Dec 31, 2010 | -132.19% | 4.94% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
Comparison to Industry (Consumer Discretionary)
Tesla Inc., net profit margin, long-term trends, comparison to industry (consumer discretionary)
| Tesla Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2025 | 4.00% | — |
| Dec 31, 2024 | 7.26% | 8.69% |
| Dec 31, 2023 | 15.50% | 7.84% |
| Dec 31, 2022 | 15.41% | 5.02% |
| Dec 31, 2021 | 10.25% | 9.12% |
| Dec 31, 2020 | 2.29% | 5.18% |
| Dec 31, 2019 | -3.51% | 5.92% |
| Dec 31, 2018 | -4.55% | 6.19% |
| Dec 31, 2017 | -16.68% | 4.38% |
| Dec 31, 2016 | -9.64% | 5.77% |
| Dec 31, 2015 | -21.96% | 6.37% |
| Dec 31, 2014 | -9.19% | 4.66% |
| Dec 31, 2013 | -3.68% | 5.29% |
| Dec 31, 2012 | -95.88% | 5.32% |
| Dec 31, 2011 | -124.56% | 8.80% |
| Dec 31, 2010 | -132.19% | 5.80% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).