Austin, TX · Founded 2003 · 134,785 employees
Tesla generated $94.8B in revenue for fiscal year 2025, a -2.9% year-over-year change. Gross margin was 18.0%. Net income reached $3.9B.
Tesla is in a high-stakes transition where $44.7B in liquidity meets a massive $25B+ capex commitment; the stock's valuation now relies on subjective accounting milestones and autonomy 'options' while core operational risks like inventory build and legal verdicts mount. Quick take: Tesla enters 2026 with a large liquidity cushion (approximately $44.7B in cash and short-term investments) and improving automotive gross margins (21.1% in Q1 2026), while simultaneously committing to an aggressive growth and AI roadmap (Robotaxi, Optimus, battery cell vertical integration) that requires very large capital and operating investments. The quarter shows healthy operating cash flow ($3.94B) but also rising non-cash charges, large stock-based compensation exposure, legal and regulatory overhang and a growing inventory and warranty book that merit close monitoring.
| Fiscal Year | Revenue | YoY Growth | Gross Margin | Op. Margin | Net Income | EPS |
|---|---|---|---|---|---|---|
| FY2025 | $94.8B | -2.9% | 18.0% | 4.6% | $3.9B | $1.08 |
| FY2024 | $97.7B | +0.9% | 17.9% | 7.2% | $7.2B | $2.04 |
| FY2023 | $96.8B | +18.8% | 18.2% | 9.2% | $15.0B | $4.30 |
| FY2022 | $81.5B | +51.4% | 25.6% | 16.8% | $12.6B | $3.62 |
| FY2021 | $53.8B | +70.7% | 25.3% | 12.1% | $5.6B | $4.90 |
| FY2020 | $31.5B | +28.3% | 21.0% | 6.3% | $862.0M | $0.64 |
| FY2019 | $24.6B | +14.5% | 16.6% | -0.3% | $-775.0M | $-4.92 |
| FY2018 | $21.5B | — | 18.8% | -1.8% | $-1.1B | $-5.72 |
| Fiscal Year | Operating Cash Flow | Capital Expenditures | Free Cash Flow | Investing | Financing |
|---|---|---|---|---|---|
| FY2025 | $14.7B | $-8.5B | $6.2B | $-15.5B | $1.1B |
| FY2024 | $14.9B | $-11.3B | $3.6B | $-18.8B | $3.9B |
| FY2023 | $13.3B | $-8.9B | $4.4B | $-15.6B | $2.6B |
| FY2022 | $14.7B | $-7.2B | $7.6B | $-12.0B | $-3.5B |
| FY2021 | $11.5B | $-6.5B | $5.0B | $-7.9B | $-5.2B |
| FY2020 | $5.9B | $-3.2B | $2.8B | $-3.1B | $10.0B |
| FY2019 | $2.4B | $-1.3B | $1.1B | $-1.4B | $1.5B |
| FY2018 | $2.1B | $-2.1B | $-2.9M | $-2.3B | $573.8M |
| Fiscal Year | Total Assets | Total Liabilities | Total Equity | Cash | Total Debt |
|---|---|---|---|---|---|
| FY2025 | $137.8B | $54.9B | $82.1B | $16.5B | $8.2B |
| FY2024 | $122.1B | $48.4B | $72.9B | $16.1B | $7.9B |
| FY2023 | $106.6B | $43.0B | $62.6B | $16.4B | $4.7B |
| FY2022 | $82.3B | $36.4B | $44.7B | $16.3B | $2.1B |
| FY2021 | $62.1B | $30.5B | $30.2B | $17.6B | $5.4B |
| FY2020 | $52.1B | $28.4B | $22.2B | $19.4B | $11.7B |
| FY2019 | $34.3B | $26.2B | $6.6B | $6.3B | $12.5B |
| FY2018 | $29.7B | $23.4B | $4.9B | $3.7B | $11.0B |
Tesla generated $94.8B in revenue for fiscal year 2025. That represents a -2.9% change from $97.7B in fiscal year 2024.
Yes, Tesla is profitable. The company reported net income of $3.9B in fiscal year 2025, representing a net profit margin of 4.1%. In the prior fiscal year 2024, net income was $7.2B.
Tesla's gross margin for fiscal year 2025 was 18.0%, calculated from gross profit of $17.1B on revenue of $94.8B. Over the past 5 years, gross margins have ranged between 18% and 26%.
Tesla employs approximately 134,785 people worldwide. The company is headquartered in Austin, TX and was founded in 2003.
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