Tesla (TSLA) TSLA Q4 Financial Results Summary

2026-01-29 · Stocks · QuoteReporter

Tesla, Inc. (TSLA) Q4 2025 Financial Results Summary

Tesla, Inc. (TSLA) released its Q4 2025 financial results on January 28, 2026. Below is a summary of key financial metrics and operational highlights.

Financial Highlights

Quarterly Performance (Q4 2025 vs. Q4 2024)

Total Revenues: $24.9 billion, a 3% decrease from $25.7 billion.
Total Automotive Revenues: $17.7 billion, down 11% from $19.8 billion.
Energy Generation and Storage Revenue: $3.8 billion, a 25% increase from $3.1 billion.
Services and Other Revenue: $3.4 billion, an 18% increase from $2.8 billion.
Total Gross Profit: $5.0 billion, up 20% from $4.2 billion.
GAAP Gross Margin: 20.1%, an increase of 386 basis points from 16.3%.
Operating Income: $1.4 billion, a 11% decrease from $1.6 billion.
Operating Margin: 5.7%, a 50 basis point decrease compared to 6.2%.
Net Income (GAAP): $840 million, down 61% from $2.1 billion.
Diluted EPS (GAAP): $0.24, a 60% decrease from $0.60.
Free Cash Flow: $1.4 billion, a 30% decrease from $2.0 billion.
Cash, Cash Equivalents, and Investments: $44.1 billion, a 21% increase from $36.6 billion.

Full Year Performance (FY 2025)

Total Revenues: $94.8 billion, a 3% decrease from $97.7 billion in 2024.
Total Automotive Revenues: $69.5 billion, down 10% from $77.1 billion.
Energy Generation and Storage Revenue: $12.8 billion, a 27% increase from $10.1 billion.
Services and Other Revenue: $12.5 billion, a 19% increase from $10.5 billion.
Net Income (GAAP): $3.8 billion, a 46% decrease from $7.1 billion.
Diluted EPS (GAAP): $1.08, a 47% decrease from $2.04.

Stockholder Returns

Tesla has not declared a quarterly dividend for this quarter.
The company did not mention any share repurchase activities during this period.

Operational Summary

Vehicle Production:
Model 3/Y Production: 422,652 units, down 3% from 436,718 units.
Other Models Production: 11,706 units, down 48% from 22,727 units.
Total Production: 434,358 units, down 5% from 459,445 units.
Vehicle Deliveries:
Model 3/Y Deliveries: 406,585 units, down 14% from 471,930 units.
Other Models Deliveries: 11,642 units, down 51% from 23,640 units.
Total Deliveries: 418,227 units, down 16% from 495,570 units.
Energy Storage Deployments: Achieved 14.2 GWh, a 29% increase from 11.0 GWh.
Supercharger Infrastructure:
Supercharger Stations: Grew by 17% to 8,182 from 6,975 stations in Q4 2024.
Supercharger Connectors: Increased 19% to 77,682 from 65,495 connectors.

Strategic Updates

Tesla continues to focus on innovation in hardware, with plans to ramp up production across six new production lines for vehicles and robotics to support anticipated growth in clean energy and autopilot technologies.
The company is actively expanding its AI offerings, aiming for market leadership in autonomous vehicles.
Additionally, Tesla has begun rolling out Robotaxi services and enhancing its Full Self-Driving (FSD) subscriptions.

In summary, while Tesla faced a decline in revenue and net income during Q4 and FY 2025 compared to the previous year, it reported growth in energy generation and storage, showcasing its ongoing commitment to diversification and innovation in the automotive and energy sectors.

In millions of USD or shares as applicable, except per share data	Q4-2024	Q1-2025	Q2-2025	Q3-2025	Q4-2025
REVENUES
Automotive sales	18,659	12,925	15,787	20,359	16,750
Automotive regulatory credits	692	595	439	417	542
Automotive leasing	447	447	435	429	401
Total automotive revenues	19,798	13,967	16,661	21,205	17,693
Energy generation and storage	3,061	2,730	2,789	3,415	3,837
Services and other	2,848	2,638	3,046	3,475	3,371
Total revenues	25,707	19,335	22,496	28,095	24,901
COST OF REVENUES
Automotive sales	16,268	11,461	13,567	17,365	13,874
Automotive leasing	242	239	228	225	206
Total automotive cost of revenues	16,510	11,700	13,795	17,590	14,080
Energy generation and storage	2,289	1,945	1,943	2,342	2,739
Services and other	2,729	2,537	2,880	3,109	3,073
Total cost of revenues	21,528	16,182	18,618	23,041	19,892
Gross profit	4,179	3,153	3,878	5,054	5,009
OPERATING EXPENSES
Research and development	1,276	1,409	1,589	1,630	1,783
Selling, general and administrative	1,313	1,251	1,366	1,562	1,655
Restructuring and other	7	94	—	238	162
Total operating expenses	2,596	2,754	2,955	3,430	3,600
INCOME FROM OPERATIONS	1,583	399	923	1,624	1,409
Interest income	442	400	392	439	449
Interest expense	(96)	(91)	(86)	(76)	(85)
Other income (expense), net	(1)	595	(119)	320	(28)
INCOME BEFORE INCOME TAXES	2,524	589	1,549	1,959	1,181
Provision for income taxes	(1)	381	169	359	570
NET INCOME	2,143	420	1,190	1,389	856
Net income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries	15	11	18	16	16
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	2,128	409	1,172	1,373	840
Less: Buy-out of noncontrolling interest	3	—	—	—	—
NET INCOME USED IN COMPUTING NET INCOME PER SHARE OF COMMON STOCK	2,125	409	1,172	1,373	840
Net income per share of common stock attributable to common stockholders Basic	$ 0.66	$ 0.13	$ 0.36	$ 0.43	$ 0.26
Diluted	$ 0.60	$ 0.12	$ 0.33	$ 0.39	$ 0.24
Weighted average shares used in computing net income per share of common stock Basic	3,213	3,218	3,223	3,227	3,231
Diluted	3,517	3,521	3,519	3,526	3,539

In millions of USD	31-Dec-24	31-Mar-25	30-Jun-25	30-Sep-25	31-Dec-25
ASSETS
Current assets
Cash, cash equivalents and investments	36,563	36,996	36,782	41,647	44,059
Accounts receivable, net	4,418	3,782	3,838	4,703	4,576
Inventory	12,017	13,706	14,570	12,276	12,392
Prepaid expenses and other current assets	5,362	4,905	5,943	6,027	7,615
Total current assets	58,360	59,389	61,133	64,653	68,642
Operating lease vehicles, net	5,581	5,477	5,230	5,019	4,912
Energy generation and storage systems, net	4,924