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Tesla, Inc. (TSLA) Q2 FY2026 Financial Statements: Revenue $28.24B, Net income $1.11B

CIK 0001318605 · Nasdaq · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0001628280-26-049270) · Annual report: FY2025 10-K (filed 2026-01-29, accession 0001628280-26-003952) · Next expected filing: 10-Q ~2026-10-22

More for Tesla: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Tesla, Inc. reported $28.24 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 25.5% from $22.50 billion a year earlier, as vehicle deliveries recovered and used vehicle, service and Supercharging sales grew. Profitability moved the other way. Operating income fell to $398.00 million, down 56.9%, because research and development and selling, general and administrative spending on artificial intelligence programs and stock compensation for the 2025 CEO Performance Award grew far faster than revenue, and gross margin was 16.8%, down 0.4 points. Net income attributable to common stockholders of $1.11 billion was down 4.9% and diluted earnings per share were $0.32, held near the prior year only by a mark to market gain on Tesla's SpaceX equity stake and a one-time tax benefit from releasing a California valuation allowance.

MetricAmountvs. year ago
Revenue$28,236,000,000up 25.5%
Net income$1,114,000,000down 4.9%
Diluted EPS$0.32down 3.0%
Operating income$398,000,000down 56.9%
Gross margin16.8%down 0.4 points
Energy generation and storage revenue$3,139,000,000up 12.5%

About this file

TickerTSLA
CIK0001318605
CompanyTesla, Inc.
Business typeindustrial
Schema templatestandard industrial/manufacturer, extended with Tesla's two reportable segments (automotive, and energy generation and storage), a revenue split that separates automotive regulatory credits, and an automotive gross margin measured with and without those credits
Schema rationaleTesla manufactures and sells vehicles and energy storage products, so the standard revenue / cost of revenue / gross profit / operating income / free cash flow frame fits. Two additions matter for reading the business honestly. First, the company reports two segments with very different economics, so segment revenue, cost and gross profit are carried for every period. Second, automotive regulatory credits are sales of tradable emissions credits that carry essentially no cost of revenue, so they flow almost entirely into gross profit; the automotive gross margin is therefore shown both as the filing states it and recomputed with credits removed from both revenue and gross profit.
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions)

TSLA annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Source accession0001628280-26-0039520001628280-26-0039520001628280-26-003952
Source form10-K for the fiscal year ended December 31, 202510-K for the fiscal year ended December 31, 202510-K for the fiscal year ended December 31, 2025
Income statement
Revenue
Automotive sales65,821,000,00072,480,000,00078,509,000,000
Automotive regulatory credits1,993,000,0002,763,000,0001,790,000,000
Automotive leasing1,712,000,0001,827,000,0002,120,000,000
Total automotive revenues69,526,000,00077,070,000,00082,419,000,000
Energy generation and storage12,771,000,00010,086,000,0006,035,000,000
Services and other12,530,000,00010,534,000,0008,319,000,000
Total revenues94,827,000,00097,690,000,00096,773,000,000
Cost of revenues
Automotive sales56,267,000,00061,870,000,00065,121,000,000
Automotive leasing898,000,0001,003,000,0001,268,000,000
Total automotive57,165,000,00062,873,000,00066,389,000,000
Energy generation and storage8,969,000,0007,446,000,0004,894,000,000
Services and other11,599,000,0009,921,000,0007,830,000,000
Total cost of revenues77,733,000,00080,240,000,00079,113,000,000
Gross profit17,094,000,00017,450,000,00017,660,000,000
Gross margin %18.0%17.9%18.2%
Operating expenses
Research and development6,411,000,0004,540,000,0003,969,000,000
Selling general and administrative5,834,000,0005,150,000,0004,800,000,000
Restructuring and other494,000,000684,000,0000
Total operating expenses12,739,000,00010,374,000,0008,769,000,000
Operating income4,355,000,0007,076,000,0008,891,000,000
Operating margin %4.6%7.2%9.2%
Interest income1,680,000,0001,569,000,0001,066,000,000
Interest expense-338,000,000-350,000,000-156,000,000
Other income expense net-419,000,000695,000,000172,000,000
Income before income taxes5,278,000,0008,990,000,0009,973,000,000
Provision for benefit from income taxes1,423,000,0001,837,000,000-5,001,000,000
Net income including noncontrolling interests3,855,000,0007,153,000,00014,974,000,000
Net income attributable to noncontrolling interests61,000,00062,000,000-23,000,000
Net income attributable to common stockholders3,794,000,0007,091,000,00014,997,000,000
Net margin %4.0%7.3%15.5%
EPS basic1.182.234.73
EPS diluted1.082.044.3
Weighted average shares basic3,225,000,0003,197,000,0003,174,000,000
Weighted average shares diluted3,528,000,0003,498,000,0003,485,000,000
Dividends per share0.00.00.0
Segment detail
Automotive segment
Revenues82,056,000,00087,604,000,00090,738,000,000
Cost of revenues68,764,000,00072,794,000,00074,219,000,000
Gross profit13,292,000,00014,810,000,00016,519,000,000
Gross margin %16.2%16.9%18.2%
Energy generation and storage segment
Revenues12,771,000,00010,086,000,0006,035,000,000
Cost of revenues8,969,000,0007,446,000,0004,894,000,000
Gross profit3,802,000,0002,640,000,0001,141,000,000
Gross margin %29.8%26.2%18.9%
Automotive vehicles only
Gross profit total automotive12,361,000,00014,197,000,00016,030,000,000
Gross margin total automotive %17.8%18.4%19.4%
Revenue excluding regulatory credits67,533,000,00074,307,000,00080,629,000,000
Gross profit excluding regulatory credits10,368,000,00011,434,000,00014,240,000,000
Gross margin excluding regulatory credits %15.4%15.4%17.7%
Revenue by geography
United states47,627,000,00047,725,000,00045,235,000,000
China20,962,000,00020,944,000,00021,745,000,000
Other international26,238,000,00029,021,000,00029,793,000,000
Balance sheet
Cash and cash equivalents16,513,000,00016,139,000,000
Short term investments27,546,000,00020,424,000,000
Cash and short term investments44,059,000,00036,563,000,000
Accounts receivable net4,576,000,0004,418,000,000
Inventory12,392,000,00012,017,000,000
Prepaid expenses and other current assets7,615,000,0005,362,000,000
Total current assets68,642,000,00058,360,000,000
Operating lease vehicles net4,912,000,0005,581,000,000
Energy generation and storage systems net4,604,000,0004,924,000,000
Property plant and equipment net40,643,000,00035,836,000,000
Operating lease right of use assets6,027,000,0005,160,000,000
Digital assets1,008,000,0001,076,000,000
Deferred tax assets6,925,000,0006,524,000,000
Other non current assets5,045,000,0004,609,000,000
Total assets137,806,000,000122,070,000,000
Accounts payable13,371,000,00012,474,000,000
Accrued liabilities and other13,279,000,00010,723,000,000
Deferred revenue current3,424,000,0003,168,000,000
Current portion of debt and finance leases1,640,000,0002,456,000,000
Total current liabilities31,714,000,00028,821,000,000
Debt and finance leases net of current portion6,736,000,0005,757,000,000
Deferred revenue net of current portion3,631,000,0003,317,000,000
Other long term liabilities12,860,000,00010,495,000,000
Total liabilities54,941,000,00048,390,000,000
Redeemable noncontrolling interests58,000,00063,000,000242,000,000
Total stockholders equity82,137,000,00072,913,000,00062,634,000,000
Noncontrolling interests in subsidiaries670,000,000704,000,000733,000,000
Total equity including noncontrolling interests82,807,000,00073,617,000,00063,367,000,000
Shares issued and outstanding3,751,000,0003,216,000,0003,185,000,000
Total debt excluding finance leases8,153,000,0007,878,000,000
Total debt and finance leases8,376,000,0008,213,000,000
Net cash position cash and short term investments less total debt and finance leases35,683,000,00028,350,000,000
NoteThe FY2025 10-K balance sheet presents only December 31, 2025 and December 31, 2024. The equity figures below for December 31, 2023 come from that same 10-K's consolidated statements of redeemable noncontrolling interests and equity.
Cash flow
Net income including noncontrolling interests3,855,000,0007,153,000,00014,974,000,000
Depreciation amortization and impairment6,148,000,0005,368,000,0004,667,000,000
Stock based compensation2,825,000,0001,999,000,0001,812,000,000
Inventory and purchase commitment write downs362,000,000335,000,000463,000,000
Deferred income taxes123,000,000477,000,000-6,349,000,000
Operating cash flow14,747,000,00014,923,000,00013,256,000,000
Capital expenditures-8,527,000,000-11,342,000,000-8,899,000,000
Free cash flow6,220,000,0003,581,000,0004,357,000,000
Investing cash flow-15,478,000,000-18,787,000,000-15,584,000,000
Financing cash flow1,139,000,0003,853,000,0002,589,000,000
Proceeds from issuances of debt5,586,000,0005,744,000,0003,931,000,000
Repayments of debt-5,546,000,000-2,500,000,000-1,351,000,000
Principal payments on finance leases-104,000,000-381,000,000-464,000,000
Proceeds from stock option exercises and other stock issuances1,186,000,0001,241,000,000700,000,000
Distributions paid to noncontrolling interests-78,000,000-104,000,000-144,000,000
Dividends paid to common stockholders000
Cash and restricted cash end of period17,616,000,00017,037,000,00017,189,000,000
Property and equipment acquisitions included in liabilities non cash1,913,000,0001,410,000,0002,272,000,000
Cash paid for interest292,000,000277,000,000126,000,000

TSLA quarterly income statement, balance sheet and cash flow

2026-06-302025-06-30
Period labelQ2 FY2026 (three months ended June 30, 2026)Q2 FY2025 (three months ended June 30, 2025) - prior-year comparative
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Months33
Source accession0001628280-26-0492700001628280-26-049270
Source form10-Q for the quarterly period ended June 30, 202610-Q for the quarterly period ended June 30, 2026 (comparative column)
Income statement
Revenue
Automotive sales20,006,000,00015,787,000,000
Automotive regulatory credits146,000,000439,000,000
Automotive leasing364,000,000435,000,000
Total automotive revenues20,516,000,00016,661,000,000
Energy generation and storage3,139,000,0002,789,000,000
Services and other4,581,000,0003,046,000,000
Total revenues28,236,000,00022,496,000,000
Cost of revenues
Automotive sales16,866,000,00013,567,000,000
Automotive leasing187,000,000228,000,000
Total automotive17,053,000,00013,795,000,000
Energy generation and storage2,499,000,0001,943,000,000
Services and other3,933,000,0002,880,000,000
Total cost of revenues23,485,000,00018,618,000,000
Gross profit4,751,000,0003,878,000,000
Gross margin %16.8%17.2%
Operating expenses
Research and development2,371,000,0001,589,000,000
Selling general and administrative1,982,000,0001,366,000,000
Restructuring and other00
Total operating expenses4,353,000,0002,955,000,000
Operating income398,000,000923,000,000
Operating margin %1.4%4.1%
Interest income422,000,000392,000,000
Interest expense-81,000,000-86,000,000
Other income expense net590,000,000320,000,000
Income before income taxes1,329,000,0001,549,000,000
Provision for benefit from income taxes201,000,000359,000,000
Net income including noncontrolling interests1,128,000,0001,190,000,000
Net income attributable to noncontrolling interests14,000,00018,000,000
Net income attributable to common stockholders1,114,000,0001,172,000,000
Net margin %3.9%5.2%
EPS basic0.340.36
EPS diluted0.320.33
Weighted average shares basic3,237,000,0003,223,000,000
Weighted average shares diluted3,540,000,0003,519,000,000
Dividends per share0.00.0
Segment detail
Automotive segment
Revenues25,097,000,00019,707,000,000
Cost of revenues20,986,000,00016,675,000,000
Gross profit4,111,000,0003,032,000,000
Gross margin %16.4%15.4%
Energy generation and storage segment
Revenues3,139,000,0002,789,000,000
Cost of revenues2,499,000,0001,943,000,000
Gross profit640,000,000846,000,000
Gross margin %20.4%30.3%
Automotive vehicles only
Gross profit total automotive3,463,000,0002,866,000,000
Gross margin total automotive %16.9%17.2%
Revenue excluding regulatory credits20,370,000,00016,222,000,000
Gross profit excluding regulatory credits3,317,000,0002,427,000,000
Gross margin excluding regulatory credits %16.3%15.0%
Revenue by geography
United states13,208,000,00011,809,000,000
China4,675,000,0004,305,000,000
Other international10,353,000,0006,382,000,000
Balance sheet
Cash and cash equivalents15,219,000,000
Short term investments28,305,000,000
Cash and short term investments43,524,000,000
Accounts receivable net4,087,000,000
Inventory13,752,000,000
Prepaid expenses and other current assets7,395,000,000
Total current assets68,758,000,000
Operating lease vehicles net4,253,000,000
Energy generation and storage systems net4,510,000,000
Property plant and equipment net47,255,000,000
Operating lease right of use assets6,386,000,000
Digital assets674,000,000
Deferred tax assets7,235,000,000
Other non current assets9,453,000,000
Total assets148,524,000,000
Accounts payable15,324,000,000
Accrued liabilities and other15,256,000,000
Deferred revenue current3,427,000,000
Current portion of debt and finance leases1,418,000,000
Total current liabilities35,425,000,000
Debt and finance leases net of current portion7,924,000,000
Deferred revenue net of current portion4,073,000,000
Other long term liabilities13,583,000,000
Total liabilities61,005,000,000
Redeemable noncontrolling interests54,000,000
Total stockholders equity86,858,000,000
Noncontrolling interests in subsidiaries607,000,000
Total equity including noncontrolling interests87,465,000,000
Shares issued and outstanding3,949,000,000
Total debt excluding finance leases9,061,000,000
Total debt and finance leases9,342,000,000
Net cash position cash and short term investments less total debt and finance leases34,182,000,000
Cash flow
NoteTesla's 10-Q presents cash flows only on a year-to-date basis; there is no stand-alone three-month cash flow statement. See the six months ended June 30, 2026 period for cash flow.
Operating metrics
NoteVolumes below are the year-to-date figures the 10-Q's overview discloses for the first half of 2026; the filing does not break them out for the second quarter alone.
Consumer vehicles produced YTD 2026860,000
Consumer vehicles delivered YTD 2026838,000
Energy storage deployed YTD 2026 gwh22.3

TSLA year-to-date income statement and cash flow

2026-06-30
Period labelFirst half FY2026 (six months ended June 30, 2026)
Period start2026-01-01
Period end2026-06-30
Months6
Source accession0001628280-26-049270
Source form10-Q for the quarterly period ended June 30, 2026
Income statement
Revenue
Automotive sales35,479,000,000
Automotive regulatory credits526,000,000
Automotive leasing745,000,000
Total automotive revenues36,750,000,000
Energy generation and storage5,547,000,000
Services and other8,326,000,000
Total revenues50,623,000,000
Cost of revenues
Automotive sales29,482,000,000
Automotive leasing383,000,000
Total automotive29,865,000,000
Energy generation and storage3,955,000,000
Services and other7,332,000,000
Total cost of revenues41,152,000,000
Gross profit9,471,000,000
Gross margin %18.7%
Operating expenses
Research and development4,317,000,000
Selling general and administrative3,815,000,000
Restructuring and other0
Total operating expenses8,132,000,000
Operating income1,339,000,000
Operating margin %2.6%
Interest income856,000,000
Interest expense-173,000,000
Other income expense net55,000,000
Income before income taxes2,077,000,000
Provision for benefit from income taxes458,000,000
Net income including noncontrolling interests1,619,000,000
Net income attributable to noncontrolling interests28,000,000
Net income attributable to common stockholders1,591,000,000
Net margin %3.1%
EPS basic0.49
EPS diluted0.45
Weighted average shares basic3,235,000,000
Weighted average shares diluted3,538,000,000
Dividends per share0.0
Segment detail
Automotive segment
Revenues45,076,000,000
Cost of revenues37,197,000,000
Gross profit7,879,000,000
Gross margin %17.5%
Energy generation and storage segment
Revenues5,547,000,000
Cost of revenues3,955,000,000
Gross profit1,592,000,000
Gross margin %28.7%
Automotive vehicles only
Gross profit total automotive6,885,000,000
Gross margin total automotive %18.7%
Revenue excluding regulatory credits36,224,000,000
Gross profit excluding regulatory credits6,359,000,000
Gross margin excluding regulatory credits %17.6%
Revenue by geography
United states23,885,000,000
China8,859,000,000
Other international17,879,000,000
Balance sheet
Cash and cash equivalents15,219,000,000
Short term investments28,305,000,000
Cash and short term investments43,524,000,000
Accounts receivable net4,087,000,000
Inventory13,752,000,000
Prepaid expenses and other current assets7,395,000,000
Total current assets68,758,000,000
Operating lease vehicles net4,253,000,000
Energy generation and storage systems net4,510,000,000
Property plant and equipment net47,255,000,000
Operating lease right of use assets6,386,000,000
Digital assets674,000,000
Deferred tax assets7,235,000,000
Other non current assets9,453,000,000
Total assets148,524,000,000
Accounts payable15,324,000,000
Accrued liabilities and other15,256,000,000
Deferred revenue current3,427,000,000
Current portion of debt and finance leases1,418,000,000
Total current liabilities35,425,000,000
Debt and finance leases net of current portion7,924,000,000
Deferred revenue net of current portion4,073,000,000
Other long term liabilities13,583,000,000
Total liabilities61,005,000,000
Redeemable noncontrolling interests54,000,000
Total stockholders equity86,858,000,000
Noncontrolling interests in subsidiaries607,000,000
Total equity including noncontrolling interests87,465,000,000
Shares issued and outstanding3,949,000,000
Total debt excluding finance leases9,061,000,000
Total debt and finance leases9,342,000,000
Net cash position cash and short term investments less total debt and finance leases34,182,000,000
Cash flow
Net income including noncontrolling interests1,619,000,000
Depreciation amortization and impairment3,209,000,000
Stock based compensation2,181,000,000
Inventory write downs187,000,000
Deferred income taxes-301,000,000
Operating cash flow8,634,000,000
Capital expenditures-8,282,000,000
Free cash flow352,000,000
Investing cash flow-10,951,000,000
Financing cash flow1,209,000,000
Proceeds from issuances of debt4,679,000,000
Repayments of debt-3,922,000,000
Principal payments on finance leases-37,000,000
Proceeds from stock option exercises and other stock issuances468,000,000
Distributions paid to noncontrolling interests-91,000,000
Dividends paid to common stockholders0
Cash and restricted cash end of period16,425,000,000
Property and equipment acquisitions included in liabilities non cash2,633,000,000
Purchase of spacex equity investment-2,002,000,000
Spacex equity investment unrealized gain non cash-1,005,000,000
Prior year comparative
Period labelFirst half FY2025 (six months ended June 30, 2025) - prior-year comparative
Period start2025-01-01
Period end2025-06-30
Months6
Source accession0001628280-26-049270
Source form10-Q for the quarterly period ended June 30, 2026 (comparative column)
Income statement
Revenue
Automotive sales28,712,000,000
Automotive regulatory credits1,034,000,000
Automotive leasing882,000,000
Total automotive revenues30,628,000,000
Energy generation and storage5,519,000,000
Services and other5,684,000,000
Total revenues41,831,000,000
Cost of revenues
Automotive sales25,028,000,000
Automotive leasing467,000,000
Total automotive25,495,000,000
Energy generation and storage3,888,000,000
Services and other5,417,000,000
Total cost of revenues34,800,000,000
Gross profit7,031,000,000
Gross margin %16.8%
Operating expenses
Research and development2,998,000,000
Selling general and administrative2,617,000,000
Restructuring and other94,000,000
Total operating expenses5,709,000,000
Operating income1,322,000,000
Operating margin %3.2%
Interest income792,000,000
Interest expense-177,000,000
Other income expense net201,000,000
Income before income taxes2,138,000,000
Provision for benefit from income taxes528,000,000
Net income including noncontrolling interests1,610,000,000
Net income attributable to noncontrolling interests29,000,000
Net income attributable to common stockholders1,581,000,000
Net margin %3.8%
EPS basic0.49
EPS diluted0.45
Weighted average shares basic3,220,000,000
Weighted average shares diluted3,520,000,000
Dividends per share0.0
Segment detail
Automotive segment
Revenues36,312,000,000
Cost of revenues30,912,000,000
Gross profit5,400,000,000
Gross margin %14.9%
Energy generation and storage segment
Revenues5,519,000,000
Cost of revenues3,888,000,000
Gross profit1,631,000,000
Gross margin %29.6%
Automotive vehicles only
Gross profit total automotive5,133,000,000
Gross margin total automotive %16.8%
Revenue excluding regulatory credits29,594,000,000
Gross profit excluding regulatory credits4,099,000,000
Gross margin excluding regulatory credits %13.9%
Revenue by geography
United states22,142,000,000
China8,608,000,000
Other international11,081,000,000
Cash flow
Net income including noncontrolling interests1,610,000,000
Depreciation amortization and impairment2,880,000,000
Stock based compensation1,208,000,000
Inventory write downs248,000,000
Deferred income taxes9,000,000
Operating cash flow4,696,000,000
Capital expenditures-3,886,000,000
Free cash flow810,000,000
Investing cash flow-4,595,000,000
Financing cash flow-554,000,000
Proceeds from issuances of debt3,050,000,000
Repayments of debt-4,129,000,000
Principal payments on finance leases-67,000,000
Proceeds from stock option exercises and other stock issuances528,000,000
Distributions paid to noncontrolling interests-36,000,000
Dividends paid to common stockholders0
Cash and restricted cash end of period16,735,000,000
Property and equipment acquisitions included in liabilities non cash1,639,000,000

TSLA trailing twelve month income statement and cash flow

2026-06-30
Period labelTrailing twelve months ended June 30, 2026 (derived)
Period start2025-07-01
Period end2026-06-30
Months12
Source accession0001628280-26-003952; 0001628280-26-049270
DerivationFiscal year 2025 as reported in the FY2025 10-K, less the six months ended June 30, 2025 and plus the six months ended June 30, 2026, both as reported in the June 30, 2026 10-Q. No single filing presents this period.
Income statement
Total revenues103,619,000,000
Total automotive revenues75,648,000,000
Automotive regulatory credits1,485,000,000
Energy generation and storage12,799,000,000
Services and other15,172,000,000
Gross profit19,534,000,000
Gross margin %18.9%
Research and development7,730,000,000
Selling general and administrative7,032,000,000
Operating income4,372,000,000
Operating margin %4.2%
Net income including noncontrolling interests3,864,000,000
Net income attributable to common stockholders3,804,000,000
Net margin %3.7%
EPS diluted1.08
Weighted average shares diluted latest quarter3,540,000,000
Dividends per share0.0
Cash flow
Operating cash flow18,685,000,000
Capital expenditures-12,923,000,000
Free cash flow5,762,000,000
Stock based compensation3,798,000,000
Depreciation amortization and impairment6,477,000,000
Dividends paid to common stockholders0

Adjustments

Value
Splits appliednone
Splits noteTesla's last two stock splits were a 5-for-1 in August 2020 and a 3-for-1 in August 2022. Both fall before the earliest period reported here (fiscal 2023), so every per-share figure and share count in this file is already on the current, post-split basis as the filings present it. No further adjustment was applied.
ADR ration/a
FXNone applied. Tesla reports in U.S. dollars, so no currency conversion was needed.

Notes

  • All figures in this file are stated in actual dollars. The filings present their statements in millions (and share counts in millions), so every amount read off a statement was multiplied by one million.
  • Annual figures come from the face of the consolidated statements in Tesla's FY2025 10-K (accession 0001628280-26-003952), filed January 29, 2026. The income statement and cash flow statement each present three years (2025, 2024, 2023); the balance sheet presents only December 31, 2025 and December 31, 2024, which is why the fiscal 2023 balance sheet block carries only the equity figures the statement of equity provides for that date, and no assets or liabilities.
  • Quarterly figures come from the 10-Q for the quarterly period ended June 30, 2026 (accession 0001628280-26-049270), filed July 23, 2026. That filing presents three-month and six-month columns for 2026 and 2025 on the income statement, a June 30, 2026 balance sheet, and six-month-only cash flow statements. Tesla does not publish a stand-alone three-month cash flow statement, so no quarterly-only operating cash flow, capital expenditure or free cash flow is reported here.
  • The trailing-twelve-months block is a derivation, not a reported period: fiscal 2025 less the six months ended June 30, 2025 plus the six months ended June 30, 2026. Its diluted EPS is the same arithmetic applied to reported per-share amounts and is therefore approximate, because the share count changes between periods.
  • Revenue detail: Tesla splits automotive revenue into vehicle sales, regulatory credits and leasing, and reports energy generation and storage and services and other separately. Automotive regulatory credits are sales of tradable emissions credits to other manufacturers and carry essentially no cost of revenue. They fell from $2.763 billion in 2024 to $1.993 billion in 2025, and from $439 million in the June 2025 quarter to $146 million in the June 2026 quarter. Because they drop almost entirely to gross profit, this file also reports an automotive gross margin computed with credits stripped out of both automotive revenue and automotive gross profit; that measure is a calculation from the filings' own figures, not a line Tesla states.
  • Segment presentation follows the filings: Tesla's automotive segment includes services and other as well as regulatory credits, so segment automotive revenue ($82.056 billion in 2025) is larger than the 'total automotive revenues' line on the income statement ($69.526 billion in 2025), which excludes services and other. Both are carried here so the difference is visible.
  • 'Gross profit total automotive' and 'gross margin total automotive' are figures Tesla states in its MD&A and cover vehicle sales, credits and leasing only, excluding services and other.
  • Capital expenditure is the cash flow statement line 'Purchases of property and equipment excluding finance leases, net of sales.' Free cash flow here is operating cash flow less that line. Note that the six months ended June 30, 2026 also included a separate $2.002 billion purchase of a SpaceX equity investment, which is an investing outflow but is not treated as capital expenditure.
  • Debt: the balance sheet combines debt and finance leases into single current and non-current lines. The debt note separates them, so this file reports both a total debt figure excluding finance leases ($9.061 billion at June 30, 2026) and the balance sheet total including them ($9.342 billion). Against $43.524 billion of cash and short-term investments, Tesla holds a large net cash position in every period reported. Neither figure includes operating lease liabilities.
  • Tesla pays no dividend. No dividend was declared or paid in any period in this file, so dividends per share and dividends paid are recorded as zero rather than left blank.
  • Share count: the shares issued and outstanding on the balance sheet rose from 3,216 million at December 31, 2024 to 3,751 million at December 31, 2025 and 3,949 million at June 30, 2026. The two increases have different causes. The FY2025 10-K attributes the 535 million share rise during 2025 to issuances of common stock for equity incentive awards, which include 96.0 million shares of restricted stock granted to the CEO in August 2025 (the 2025 CEO Interim Award) and approximately 423.7 million shares of performance-based restricted stock granted in September 2025 and approved by shareholders in November 2025 (the 2025 CEO Performance Award). The further 198 million share rise in the six months ended June 30, 2026 principally reflects the CEO's exercise, during the June 2026 quarter, of approximately 304.0 million stock options under the 2018 CEO Performance Award, net settled for the exercise price with approximately 17.5 million shares - partly offset by the forfeiture of the 96.0 million interim-award shares described below. Those 96.0 million shares are therefore no longer in the June 30, 2026 count. Because the performance-award shares remain unvested or unearned, weighted average diluted shares used for earnings per share are far lower than shares outstanding - 3,528 million for fiscal 2025 and 3,540 million for the June 2026 quarter. Both measures are reported here and should not be used interchangeably.
  • The FY2025 10-K discloses that as of December 31, 2025 no stock-based compensation expense had been recorded for the 2025 CEO Interim Award, whose grant date fair value was $26.06 billion, because vesting was not deemed probable. That expense was never recognized and never will be: the June 30, 2026 10-Q reports that the Delaware Supreme Court reversed the rescission of the 2018 CEO Performance Award and the Delaware Court of Chancery entered a final order implementing that reinstatement on March 18, 2026, that on April 21, 2026 the Board determined this constituted a Tornetta Decision Event under the interim award's 'no double dip' terms, and that the 96.0 million interim-award shares were immediately forfeited with no stock-based compensation expense recognized prior to forfeiture. Separately, the FY2025 10-K discloses unrecognized stock-based compensation expense on the 2025 CEO Performance Award of $10.23 billion for the milestone considered probable of achievement, plus $105.82 billion to $120.37 billion for milestones not considered probable. None of that potential future expense is in any figure in this file.
  • Fiscal 2023 net income of $14.974 billion is not comparable to later years: it includes a $5.001 billion income tax benefit, driven mainly by a $6.349 billion deferred tax movement, from the release of a valuation allowance on deferred tax assets. Pre-tax income that year was $9.973 billion.
  • Restructuring charges appear in operating expenses: $494 million in 2025 (including $390 million tied to convergence of AI chip design efforts) and $684 million in 2024 (including $583 million of employee termination costs). Fiscal 2023 had none.
  • The June 2026 quarter's other income, net of $590 million is stated after a $1.00 billion net gain on Tesla's SpaceX equity investment, which the 10-Q quantifies for the three months ended June 30, 2026 in its fair value note. That implies the other components of the line - marks on bitcoin digital assets and foreign currency movements on intercompany balances, which the filing names as the other drivers - were together a net drag of roughly $410 million in the quarter. For the six months ended June 30, 2026 the cash flow statement shows $1.005 billion of non-cash unrealized gain on the investment. The 10-Q states Tesla invested $2.00 billion in SpaceX common stock in March 2026, representing an ownership interest of less than 1 percent, accounted for under the equity method with a fair value election, and carried at $3.007 billion at June 30, 2026 after a $238 million discount for lack of marketability.
  • Digital assets fell from $1.008 billion at December 31, 2025 to $674 million at June 30, 2026, with a $334 million unrealized loss recorded in the six months ended June 30, 2026.
  • Operating volumes for the first half of 2026 (approximately 860 thousand consumer vehicles produced, 838 thousand delivered, and 22.3 GWh of energy storage deployed) are the year-to-date figures stated in the 10-Q's overview. The filing does not break these out for the second quarter alone.

Uncertainties

  • The automotive gross margin excluding regulatory credits is a calculation, not a figure Tesla reports. It removes credit revenue from both automotive revenue and automotive gross profit, which assumes credits carry no cost of revenue. The filings describe credits as sales of credits Tesla earns in the operation of its automotive business but do not state a cost attached to them, so this is a reasonable but not an exact treatment. The margins Tesla itself states are reported alongside it.
  • No stand-alone second-quarter cash flow figures exist. Tesla's 10-Q presents cash flows only for the six months ended June 30. Any quarterly operating cash flow, capital expenditure or free cash flow would have to be inferred by subtracting a first-quarter figure that neither of the two filings used here contains, so none is reported.
  • The trailing-twelve-months diluted earnings per share of $1.08 is the sum of reported per-share figures (fiscal 2025 less the first half of 2025 plus the first half of 2026) rather than a recomputation from trailing net income over a trailing share count. Dividing trailing net income attributable to common stockholders of $3.804 billion by roughly 3.53 billion diluted shares gives approximately $1.08 as well, so the two approaches agree to the cent here, but the figure remains a derivation.
  • Fiscal 2023 has no balance sheet in this file beyond equity. The FY2025 10-K's balance sheet shows only two year-ends, and only the latest 10-K and 10-Q were used, so December 31, 2023 assets, liabilities, cash and debt are simply not available from these sources.
  • Total debt excludes operating lease liabilities, which Tesla reports within other long-term liabilities and accrued liabilities rather than as debt. A reader who capitalizes leases would arrive at a larger debt figure than the one stated here.
  • The energy generation and storage segment's second-quarter gross margin fell sharply, from 30.3 percent in the June 2025 quarter to 20.4 percent in the June 2026 quarter, while first-half margin was 28.7 percent versus 29.6 percent. The 10-Q states the drivers: cost of energy generation and storage revenue rose 29 percent in the quarter, primarily due to deployment fluctuations, together with an increase in average cost per MWh driven mainly by sales mix and unfavorable warranty adjustments. What the filing does not do is quantify how much of the 9.9 point margin decline each of those drivers accounts for, so their relative weight cannot be determined from this disclosure.
  • The June 2026 quarter's reported pre-tax income of $1.329 billion rests materially on a non-operating, non-cash item: the $1.00 billion net gain on the SpaceX equity investment that the 10-Q discloses for the quarter. Operating income was only $398 million. The gain is a mark to fair value on a holding of less than 1 percent of a private company and can reverse in later periods, so quarterly earnings on this basis are not a guide to operating performance. The judgment a reader has to make is how much weight to give it, not whether it can be measured.

Company details

Value
NameTesla, Inc.
TickerTSLA
CIK0001318605
ExchangeNasdaq
StateTexas
IncorporationTexas
SIC3711
OfficeManufacturing
IndustryMotor Vehicles & Passenger Car Bodies

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0001628280-26-049270
Fiscal year end1231
Sourcefacts

FAQ · Tesla financial statements

How much revenue did Tesla report in Q2 FY2026?

Tesla, Inc. reported $28.24 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 25.5% from $22.50 billion in the same quarter a year earlier.

What was Tesla's net income and EPS in Q2 FY2026?

Tesla, Inc. reported net income attributable to common stockholders of $1.11 billion for Q2 FY2026, down 4.9% from $1.17 billion a year earlier, and diluted earnings per share of $0.32 against $0.33.

Why did Tesla's profit fall while revenue grew in Q2 FY2026?

Tesla, Inc.'s revenue was up 25.5% in Q2 FY2026, but operating income fell to $398.00 million, down 56.9%, as research and development and selling, general and administrative costs tied to artificial intelligence programs and CEO award stock compensation outpaced that growth. Gross margin of 16.8% was down 0.4 points.

How big is Tesla's energy storage business?

Tesla, Inc.'s energy generation and storage segment produced $3.14 billion of revenue in Q2 FY2026, up 12.5% from $2.79 billion a year earlier, against $28.24 billion of total company revenue.

Where can I get Tesla, Inc. (TSLA) financial data in machine-readable form?

Ticker Scout publishes Tesla, Inc.'s financial statements as JSON at https://tickerscout.ai/tsla/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/tsla/narrative.md and https://tickerscout.ai/tsla/events.md. Tesla, Inc.'s SEC CIK is 0001318605. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Tesla, Inc. (TSLA) next file with the SEC?

Tesla, Inc. (TSLA) is expected to file its next Form 10-Q with the SEC on or around October 22, 2026. That date is a projection rather than a company-announced date: it is derived from Tesla, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001628280-26-049270.

How this page was built

This page was built from two of Tesla, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names seven such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

Published by Ticker Scout, an independent publisher of company filings data. About Ticker Scout · Disclaimer

Built from Tesla, Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.