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Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The company offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty maintenance services and collision, automotive insurance services, as well as part sales and retail merchandise sale. It also provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; purchase financing and leasing services; services for electric vehicles through its company-owned service locations and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. In addition, the company engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners. Further, it provides services and repairs to its energy product customers, including under warranty and extended service plans; and various financing options to its residential customers; lithium-ion battery energy storage products, such as Powerwall and Megapack; energy generation products, including solar panels and solar roof; self-driving development and artificial intelligence software, vehicle control and infotainment software, and battery and powertrain. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $94.8B | $11.8B | $3.8B | $6.2B | 4.6% | -2.9% | -46.8% |
| 2024 | $97.7B | $14.7B | $7.1B | $3.6B | 9.8% | 0.9% | -52.5% |
| 2023 | $96.8B | $14.8B | $15.0B | $4.4B | 23.9% | 18.8% | 19.2% |
| 2022 | $81.5B | $17.7B | $12.6B | $7.6B | 28.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 81,462 | 96,773 | 97,690 | 94,827 |
| Operating Revenue | - | 81,462 | 96,773 | 97,690 | 94,827 |
| Cost Of Revenue | - | 60,609 | 79,113 | 80,240 | 77,733 |
| Gross Profit | - | 20,853 | 17,660 | 17,450 | 17,094 |
| Operating Expense | - | 7,021 | 8,769 | 9,690 | 12,245 |
| Research And Development | - | 3,075 | 3,969 | 4,540 | 6,411 |
| Selling General And Administration | - | 3,946 | 4,800 | 5,150 | 5,834 |
| Total Expenses | - | 67,630 | 87,882 | 89,930 | 89,978 |
| Operating Income | - | 13,832 | 8,891 | 7,760 | 4,849 |
| Total Operating Income As Reported | - | 13,656 | 8,891 | 7,076 | 4,355 |
| EBITDA | - | 17,657 | 14,796 | 14,708 | 11,764 |
| Normalized EBITDA | - | 17,833 | 14,796 | 15,392 | 12,258 |
| EBIT | - | 13,910 | 10,129 | 9,340 | 5,616 |
| Interest Income | - | 297 | 1,066 | 1,569 | 1,680 |
| Interest Expense | - | 191 | 156 | 350 | 338 |
| Net Interest Income | - | 106 | 910 | 1,219 | 1,342 |
| Other Non Operating Income Expenses | - | -43 | 172 | 695 | -419 |
| Other Income Expense | - | -219 | 172 | 11 | -913 |
| Interest Income Non Operating | - | 297 | 1,066 | 1,569 | 1,680 |
| Interest Expense Non Operating | - | 191 | 156 | 350 | 338 |
| Net Non Operating Interest Income Expense | - | 106 | 910 | 1,219 | 1,342 |
| Pretax Income | - | 13,719 | 9,973 | 8,990 | 5,278 |
| Tax Provision | - | 1,132 | -5,001 | 1,837 | 1,423 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -14.08 | 0 | -136.80 | -133.38 |
| Net Income Continuous Operations | - | 12,587 | 14,974 | 7,153 | 3,855 |
| Net Income From Continuing And Discontinued Operation | - | 12,583 | 14,999 | 7,130 | 3,794 |
| Net Income From Continuing Operation Net Minority Interest | - | 12,583 | 14,999 | 7,130 | 3,794 |
| Net Income | - | 12,583 | 14,999 | 7,130 | 3,794 |
| Net Income Common Stockholders | - | 12,583 | 14,999 | 7,130 | 3,794 |
| Net Income Including Noncontrolling Interests | - | 12,587 | 14,974 | 7,153 | 3,855 |
| Normalized Income | - | 12,744.92 | 14,999 | 7,677.20 | 4,154.62 |
| Diluted NI Availto Com Stockholders | - | 12,584 | 14,999 | 7,130 | 3,794 |
| Basic Average Shares | - | 3,130 | 3,173.50 | 3,216 | 3,224.75 |
| Diluted Average Shares | - | 3,475 | 3,482.75 | 3,216 | 3,526.25 |
| Reconciled Depreciation | - | 3,747 | 4,667 | 5,368 | 6,148 |
| Reconciled Cost Of Revenue | - | 60,609 | 79,113 | 80,240 | 77,733 |
| Total Unusual Items | - | -176 | 0 | -684 | -494 |
| Total Unusual Items Excluding Goodwill | - | -176 | 0 | -684 | -494 |
| Minority Interests | - | -4 | 25 | -23 | -61 |
| Special Income Charges | - | -176 | 0 | -684 | -494 |
| Restructuring And Mergern Acquisition | - | 176 | 0 | 684 | 494 |
| Rent Expense Supplemental | 978 | 1,509 | 1,268 | 1,003 | - |
| Otherunder Preferred Stock Dividend | -5 | - | - | - | - |
| Average Dilution Earnings | 9 | 1 | 0 | 0 | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tesla, Inc.this co. | TSLA | $1.6T | 414.23↑ premium | 19.13 | 4.6% | 133.44 |
| Amazon.com, Inc. | AMZN | $2.7T | 35.15 | 6.64 | 18.9% | 16.69 |
| The Home Depot, Inc. | HD | $309.1B | 21.83 | 24.12 | 110.5% | 14.84 |
| McDonald's Corporation | MCD | $193.8B | 22.63 | - | -478.4% | 16.88 |
| The TJX Companies, Inc. | TJX | $175.2B | 31.90 |
| - |
| - |
| - |
| - |
| 17.20 |
| 53.9% |
| 21.17 |
| Booking Holdings Inc. | BKNG | $129.8B | 24.02 | -23.27 | -96.9% | 14.31 |
| PDD Holdings Inc. | PDD | $122.2B | 1.25 | 0.30 | 23.7% | -2.41 |
| Lowe's Companies, Inc. | LOW | $116.4B | 17.49 | -11.73 | -67.1% | 12.84 |
| Starbucks Corporation | SBUX | $107.3B | 57.80 | -13.25 | -22.9% | 27.10 |
| Peer Median | - | 23.32 | 0.30 | -2.0% | 15.77 | |