Tesla, Inc.
Financial Performance
Tesla Revenue & Financials
Revenue
$94.8B (FY2025)
Market Cap
$1.49T
Net Income
$3.8B
Employees
134,785
What is Tesla's revenue?
Tesla had $94.8B in revenue for fiscal year 2025, down 2.9% from 2024. Net income was $3.8B.
- Latest revenue
- $94.8B (FY2025)
- Year-over-year
- -2.9%
- Growth rate (CAGR)
- 33.6% over 9 years
- Peak revenue
- $97.7B (FY2024)
- Years of data
- 10
- Employees
- 134,785
Financial Analysis
Tesla's revenue peaked at $97.69 billion in 2024 and slipped 2.9% to $94.83 billion in FY2025, while net income fell from $7.09 billion to $3.79 billion as vehicle prices and regulatory-credit income declined. The second quarter of 2026 reversed the top-line trend: revenue rose 26% to a record $28.24 billion, with automotive up 23% to $20.52 billion, services and other up 50% to $4.58 billion, and energy up 13% to $3.14 billion. Profit did not follow. GAAP net income fell 5% to $1.11 billion and adjusted EPS of $0.33 missed estimates because of higher R&D and AI infrastructure spending. Tesla frequently ranks as the most valuable automaker in the world, with valuations often ranging near or above $800 billion due to its technology-driven EV market dominance.
Revenue Trend Analysis
YoY Change
-2.9%
9-Year CAGR
+33.6%
Peak Year
2024
Trend
Consistent Growth
Tesla, Inc. has 10 full fiscal year figures on this page, compounding at +33.6% annually over 9 years. The most recent year saw a 2.9% decline versus the prior year. Annual revenue peaked in fiscal year 2024 at $97.7B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
Tesla, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $14.7B | $8.5B | $137.8B | $54.9B | $82.1B | $6.2B | Form 10-K |
| FY2024ended Dec 31, 2024 | $14.9B | $11.3B | $122.1B | $48.4B | $72.9B | $3.6B | Form 10-K |
| FY2023ended Dec 31, 2023 | $13.3B | $8.9B | $106.6B | $43B | $62.6B | $4.4B | Form 10-K |
| FY2022ended Dec 31, 2022 | $14.7B | $7.2B | $82.3B | $36.4B | $44.7B | $7.6B | Form 10-K |
| FY2021ended Dec 31, 2021 | $11.5B | $6.5B | $62.1B | $30.5B | $30.2B | $5B | Form 10-K |
| FY2020ended Dec 31, 2020 | $5.9B | $3.2B | $52.1B | $28.4B | $22.2B | $2.8B | Form 10-K |
| FY2019ended Dec 31, 2019 | $2.4B | $1.3B | $34.3B | $26.2B | $6.6B | $1.1B | Form 10-K |
| FY2018ended Dec 31, 2018 | $2.1B | $2.1B | $29.7B | $23.4B | $4.9B | -$3M | Form 10-K |
| FY2017ended Dec 31, 2017 | -$61M | $3.4B | $28.7B | $23B | $4.2B | -$3.5B | Form 10-K |
| FY2016ended Dec 31, 2016 | -$123.8M | $1.3B | $22.7B | $16.8B | $4.8B | -$1.4B | Form 10-K |
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Tesla Revenue and Financial FAQ
What were Tesla's total consolidated revenue and net income for fiscal year 2025?
In fiscal 2025, Tesla reported consolidated revenue of $94.83 billion, a 2.9% decrease from $97.69 billion in 2024, and GAAP net income of $3.79 billion, reflecting price reductions and rising competition.
How many vehicles did Tesla produce and deliver in 2025?
Tesla delivered 1.64 million vehicles globally in 2025 (an 8.6% decline from 1.81 million in 2023), with the Model Y and Model 3 representing over 95% of total deliveries.
What were Tesla's record financial results in Q2 2026?
In Q2 2026, Tesla rebounded sharply with record quarterly revenue of $28.24 billion (up 26% year-over-year) on 480,126 vehicle deliveries, driven by a 23% increase in automotive sales ($20.52B) and a 50% jump in Services ($4.58B).
How fast is Tesla's Energy Generation and Storage segment growing financially?
Tesla's Energy segment generated $3.14 billion in revenue in Q2 2026 alone, with utility Megapack deployments posting triple-digit annualized growth and gross margins approaching 25%.
What was the trend in Tesla's automotive gross margins excluding regulatory credits?
Automotive gross margin excluding credits compressed from over 27% in 2022 to roughly 14%–16% across 2024–2025 due to global price cuts, before stabilizing in 2026 through lower battery raw material costs and manufacturing efficiencies.
How much revenue does Tesla earn from automotive regulatory credits?
Tesla generates between $1.5 billion and $2.0 billion annually from selling regulatory credits to competing automakers, providing high-margin cash flow that directly bolsters operating income.
What is Tesla's annual capital expenditure (CapEx) commitment for AI and factories?
Tesla's CapEx reached $10 billion to $12 billion annually in 2025–2026, heavily weighted toward purchasing tens of thousands of Nvidia H100/H200 GPUs, scaling Dojo supercomputers, and expanding battery production lines.
How large is Tesla's cash reserve and balance sheet cushion?
Tesla maintains an exceptionally strong balance sheet with over $30 billion in cash, cash equivalents, and short-term investments, carrying virtually zero net automotive debt.
Why did GAAP net income compress in Q2 2026 despite record revenue?
GAAP net income fell 5% to $1.11 billion in Q2 2026 because of surging R&D operating expenses, heavy infrastructure spending on autonomous AI training clusters, and vehicle price promotions.
What was Tesla's free cash flow (FCF) trajectory in 2025 and 2026?
Free cash flow generated over $3.5 billion in 2025, but turned temporarily negative during peak CapEx outlays in early 2026 before recovering alongside higher Model Y delivery volumes.
What drives Tesla's $1.4+ trillion market capitalization relative to legacy automakers?
Investors value Tesla as an artificial intelligence, autonomy, and energy infrastructure platform rather than a traditional carmaker, pricing in the future enterprise value of autonomous robotaxis, FSD software licensing, and Megapack grid dominance.
Does Tesla pay a dividend or repurchase shares?
Tesla does not pay a cash dividend, preferring to reinvest 100% of operational cash flow into AI computing clusters, robotaxi scaling, and gigafactory expansion.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Tesla Revenue & Financials." CorpDigest, https://corpdigest.com/company/tesla/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Tesla reported $94.8B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/tesla/financials" target="_blank" rel="noopener">CorpDigest — Tesla financials</a></div>Related Financial Audits
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