Tesla, Inc. (TSLA) Income Statement
TSLA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTSLA revenue and net income
Where TSLA's revenue goes
2025Each bar shows an amount and its share of revenue. TSLA kept 4.0% of revenue as net income.
TSLA profit margins
TSLA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.9% | +5.2% | +24.6% | +37.1% |
| Gross profit | −2.0% | −6.4% | +20.9% | +33.9% |
| Operating income | −38.5% | −31.7% | +16.9% | — |
| Net income | −46.8% | −33.0% | +39.4% | — |
| EPS (diluted) | −31.0% | −25.7% | +17.4% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TSLA quarterly EPS vs estimates
Tesla beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.21).
TSLA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $94.83B | $97.69B | $96.77B | $81.46B | $53.82B | $31.54B | $24.58B | $21.46B | $11.76B | $7.00B |
| Cost of revenue | $77.73B | $80.24B | $79.11B | $60.61B | $40.22B | $24.91B | $20.51B | $17.42B | $9.54B | $5.40B |
| Gross profit | $17.09B | $17.45B | $17.66B | $20.85B | $13.61B | $6.63B | $4.07B | $4.04B | $2.22B | $1.60B |
| Research & development | $6.41B | $4.54B | $3.97B | $3.08B | $2.59B | $1.49B | $1.34B | $1.46B | $1.38B | $834.4M |
| Sales, general & admin | $5.83B | $5.15B | $4.80B | $3.95B | $4.52B | $3.15B | $2.65B | $2.83B | $2.48B | $1.43B |
| Total operating expenses | $12.74B | $10.37B | $8.77B | $7.02B | $7.11B | $4.64B | $4.00B | $4.43B | $3.85B | $2.27B |
| Operating income | $4.36B | $7.08B | $8.89B | $13.66B | $6.69B | $1.99B | −$69.0M | −$388.0M | −$1.63B | −$667.3M |
| Interest income | $1.68B | $1.57B | $1.07B | $41.0M | $56.0M | $30.0M | $44.0M | $24.5M | $19.7M | $164.2M |
| Interest expense | $338.0M | $350.0M | $156.0M | $191.0M | $371.0M | $748.0M | $685.0M | $663.0M | $471.0M | $198.8M |
| Income before taxes | $5.28B | $8.99B | $9.97B | $13.72B | $6.34B | $1.15B | −$665.0M | −$1.00B | −$2.21B | −$746.3M |
| Income taxes | $1.42B | $1.84B | −$5.00B | $1.13B | $699.0M | $292.0M | $110.0M | $58.0M | $32.0M | $26.7M |
| Net income | $3.79B | $7.13B | $14.97B | $12.59B | $5.64B | $721.0M | −$862.0M | −$976.0M | −$1.96B | −$674.9M |
| EBITDA | $11.76B | $14.71B | $14.80B | $17.83B | $9.60B | $4.22B | $2.17B | $1.56B | −$102.0M | $399.6M |
| EPS (diluted) | $1.67 | $2.42 | $3.13 | $4.07 | $2.26 | $0.75 | −$0.31 | −$0.10 | −$0.57 | −$0.20 |
| Gross margin | 18.0% | 17.9% | 18.2% | 25.6% | 25.3% | 21.0% | 16.6% | 18.8% | 18.9% | 22.8% |
| Operating margin | 4.6% | 7.2% | 9.2% | 16.8% | 12.4% | 6.3% | −0.3% | −1.8% | −13.9% | −9.5% |
| Net margin | 4.0% | 7.3% | 15.5% | 15.5% | 10.5% | 2.3% | −3.5% | −4.5% | −16.7% | −9.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.24B | $22.39B | $24.90B | $28.09B | $22.50B | $19.34B | $25.71B | $25.18B | $25.50B | $21.30B | $25.17B | $23.35B |
| Cost of revenue | $23.48B | $17.67B | $19.89B | $23.04B | $18.62B | $16.18B | $21.53B | $20.18B | $20.92B | $17.61B | $20.73B | $19.17B |
| Gross profit | $4.75B | $4.72B | $5.01B | $5.05B | $3.88B | $3.15B | $4.18B | $5.00B | $4.58B | $3.70B | $4.44B | $4.18B |
| Research & development | $2.37B | $1.95B | $1.78B | $1.63B | $1.59B | $1.41B | $1.28B | $1.04B | $1.07B | $1.15B | $1.09B | $1.16B |
| Sales, general & admin | $1.98B | $1.83B | $1.66B | $1.56B | $1.37B | $1.25B | $1.31B | $1.19B | $1.28B | $1.37B | $1.28B | $1.25B |
| Total operating expenses | $4.35B | $3.78B | $3.60B | $3.43B | $2.96B | $2.75B | $2.60B | $2.28B | $2.97B | $2.52B | $2.37B | $2.41B |
| Operating income | $398.0M | $941.0M | $1.41B | $1.62B | $923.0M | $399.0M | $1.58B | $2.72B | $1.60B | $1.17B | $2.06B | $1.76B |
| Interest income | $422.0M | $434.0M | $449.0M | $439.0M | $392.0M | $400.0M | $442.0M | $429.0M | $348.0M | $350.0M | $333.0M | $244.0M |
| Interest expense | $81.0M | $92.0M | $85.0M | $76.0M | $86.0M | $91.0M | $96.0M | $92.0M | $86.0M | $76.0M | $61.0M | $38.0M |
| Income before taxes | $1.33B | $748.0M | $1.18B | $1.96B | $1.55B | $589.0M | $2.77B | $2.78B | $1.79B | $1.89B | $2.19B | $2.04B |
| Income taxes | $201.0M | $257.0M | $325.0M | $570.0M | $359.0M | $169.0M | $434.0M | $601.0M | $371.0M | $483.0M | −$5.75B | $167.0M |
| Net income | $1.11B | $491.0M | $840.0M | $1.37B | $1.17B | $409.0M | $2.31B | $2.17B | $1.40B | $1.39B | $7.93B | $1.85B |
| EBITDA | $3.03B | $2.43B | $2.91B | $3.66B | $3.07B | $2.13B | $4.36B | $4.22B | $3.25B | $2.88B | $3.48B | $3.32B |
| EPS (diluted) | $0.33 | $0.41 | $0.50 | $0.50 | $0.40 | $0.27 | $0.73 | $0.72 | $0.52 | $0.45 | $0.71 | $0.66 |
| Gross margin | 16.8% | 21.1% | 20.1% | 18.0% | 17.2% | 16.3% | 16.3% | 19.8% | 18.0% | 17.4% | 17.6% | 17.9% |
| Operating margin | 1.4% | 4.2% | 5.7% | 5.8% | 4.1% | 2.1% | 6.2% | 10.8% | 6.3% | 5.5% | 8.2% | 7.6% |
| Net margin | 3.9% | 2.2% | 3.4% | 4.9% | 5.2% | 2.1% | 9.0% | 8.6% | 5.5% | 6.5% | 31.5% | 7.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TSLA's financial statements (latest annual report filed January 29, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TSLA financial results
In fiscal year 2025 (ended December 31, 2025), Tesla reported revenue of $94.8 billion, down 2.9% from the year before. It had net income of $3.8 billion (down 46.8%), a net profit margin of 4.0%. Diluted earnings per share came to $1.67. Over five years revenue grew at an average rate of 24.6% a year.
See the TSLA stock overview for the latest quote and news, or the TSLA chart for price history and technical indicators.
TSLA income statement FAQ
What is Tesla's annual revenue?
Tesla reported total revenue of $94.8 billion for fiscal year 2025, which ended on December 31, 2025. That was down 2.9% from $97.7 billion the previous year.
Is Tesla profitable?
Yes. Tesla reported net income of $3.8 billion in fiscal 2025, a net profit margin of 4.0%; its operating margin was 4.6%.
What is Tesla's gross margin?
Tesla's gross margin was 18.0% in fiscal 2025: for every $100 of revenue, Tesla kept $18 after the direct cost of its products and services.
How much does Tesla spend on research and development?
Tesla spent $6.4 billion on research and development in fiscal 2025, 6.8% of revenue.
How fast is Tesla growing?
Revenue grew 24.6% a year on average over the last five fiscal years, from $31.5 billion to $94.8 billion.
What are Tesla's earnings per share?
Tesla earned $1.67 per diluted share in fiscal 2025, compared with $2.42 a year earlier.
When will Tesla report its next earnings?
Tesla is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does Tesla's fiscal year end?
Tesla's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on January 29, 2026.