Tesla (TSLA) revenue and profit, from its SEC filings
Every figure below is as Tesla, Inc. filed it with the U.S. Securities and Exchange Commission in its annual (10-K) and quarterly (10-Q) reports. Latest filing: 10-Q filed July 23, 2026.
In short
Tesla makes electric vehicles, which bring in most of its revenue, and sells energy storage (Powerwall, Megapack) and solar products. Services such as charging, insurance, used cars and repairs are a further line.
Regulatory credits it sells to other carmakers have at times been a noticeable part of its profit, because they cost it almost nothing to produce.
Revenue went from $53.8B in fiscal 2021 to $94.8B in fiscal 2025 — growth of 15.2% a year on average.
In fiscal 2025 it was 2.9% lower than the year before.
Tesla kept 4.0% of its revenue as net profit in fiscal 2025, against 10.3% in fiscal 2021.
Free cash flow — operating cash flow minus capital expenditure — was $6.22B, more than its net income.
In its latest quarter (Q2 FY2026, to June 30, 2026) revenue was $28.2B, 25.5% more than a year earlier.
Revenue and profit by year
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| FY2025 to December 31, 2025 | $94.8B | $17.1B | $4.36B | $3.79B | 4.0% | $6.22B | $6.58B | $16.5B |
| FY2024 to December 31, 2024 | $97.7B | $17.4B | $7.08B | $7.09B | 7.3% | $3.58B | $5.54B | $16.1B |
| FY2023 to December 31, 2023 | $96.8B | $17.7B | $8.89B | $15.0B | 15.5% | $4.36B | $2.68B | $16.4B |
| FY2022 to December 31, 2022 | $81.5B | $20.9B | $13.7B | $12.6B | 15.4% | $7.57B | $1.03B | $16.3B |
| FY2021 to December 31, 2021 | $53.8B | $13.6B | $6.52B | $5.52B | 10.3% | $5.01B | $4.25B | $17.6B |
The latest quarters
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 to June 30, 2026 | $28.2B | $4.75B | $398M | $1.11B | 3.9% | −$1.09B | $7.72B | $15.2B |
| Q1 FY2026 to March 31, 2026 | $22.4B | $4.72B | $941M | $477M | 2.1% | $1.44B | $7.64B | $16.6B |
| Q4 FY2025 to December 31, 2025 | $24.9B | $5.01B | $1.41B | $840M | 3.4% | $1.42B | $6.58B | $16.5B |
| Q3 FY2025 to September 30, 2025 | $28.1B | $5.05B | $1.62B | $1.37B | 4.9% | $3.99B | $5.61B | $18.3B |
| Q2 FY2025 to June 30, 2025 | $22.5B | $3.88B | $923M | $1.17B | 5.2% | $146M | $4.99B | $15.6B |
A quarter is taken as filed where the report states it; otherwise it is the year-to-date figure minus the one before it, which is how the fourth quarter (never filed on its own) is found.
What to watch in Tesla's statements
- Net margin from year to year — how price cuts and costs move the profit on each car.
- Gross profit against revenue, the first place a car price war shows up.
- Free cash flow, since building factories consumes cash before it earns any.
How to read these figures
- Revenue vs profit — why the top line and the bottom line tell different stories.
- Reading an earnings report — where these figures come from each quarter.
- How to read a company — what to look at first.
- P/E and its traps — and why this page shows no P/E: it needs the share price, which our licences keep inside the app.
Source: the company's filings with the U.S. Securities and Exchange Commission (EDGAR). Free cash flow is operating cash flow minus capital expenditure; total debt adds long-term debt (current and non-current), commercial paper and short-term borrowings, each as filed. A dash means the company did not file that line for the period. No share price, market value or estimate appears here: those are licensed market data, shown to members in the app.
Other companies
Questions
What was Tesla's revenue in fiscal 2025?
Tesla reported revenue of $94.8B for fiscal 2025, the year that ended on December 31, 2025, in its annual report (10-K) filed with the SEC.
Is Tesla profitable?
Yes. It reported net income of $3.79B in fiscal 2025, a net margin of 4.0% — 4 cents kept as profit from every dollar of revenue.
Has Tesla made a profit every year?
In each of the 5 fiscal years shown (fiscal 2021 to 2025), it reported a net profit.
What is Tesla's profit margin?
In fiscal 2025 its gross margin was 18.0% (revenue minus the direct cost of what it sold) and its net margin 4.0% (what was left after every cost, interest and tax).
How much debt does Tesla have?
At the end of fiscal 2025 it reported $6.58B of debt — long-term debt, including the part due within a year, plus commercial paper and short-term borrowings as filed — against $16.5B of cash and cash equivalents.
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