Common-Size Balance Sheet: Assets
Quarterly Data
Tesla Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets initially increased significantly from approximately 21.7% in early 2020 to a peak of about 37.2% by the end of 2020, indicating a strengthened liquidity position during this period. However, from 2021 onwards, this ratio showed a steady decline, falling to around 13.7% by early 2025, reflecting a gradual deployment of cash resources.
- Short-term investments
- Short-term investments emerged from negligible levels before mid-2021 and thereafter demonstrated a marked and consistent increase, reaching nearly 17.5% of total assets by early 2025. This trend suggests a strategic shift to invest excess liquidity in short-term securities, possibly as part of cash management and yield optimization.
- Accounts receivable, net
- The accounts receivable ratio remained relatively stable over the observed period, generally fluctuating between approximately 2.7% and 3.8%. This stability suggests consistent credit terms and collection efficiency.
- Inventory
- The inventory proportion decreased substantially from about 12.1% in early 2020 to a low near 7.8% by early 2021, then increased steadily reaching a peak of approximately 16.6% by early 2023. After this peak, inventory ratios declined again to near 9.2% by early 2025, reflecting possible cycles of production scaling, supply chain adjustments, or changes in sales demand.
- Prepaid expenses and other current assets
- This category showed a gradual upward trend from around 2.8% in early 2020 to roughly 4.5% by early 2025, indicating a growing allocation of resources to prepaid items and similar assets.
- Current assets
- Current assets as a proportion of total assets rose sharply from under 40% in early 2020 to over 51% by the end of 2020, reflecting high liquidity and short-term asset holdings. Post-2020, this figure stabilized around the mid to high 40% range through to early 2025, suggesting a balanced current asset structure over time.
- Operating lease vehicles, net
- The percentage of operating lease vehicles relative to total assets displayed a downward trend from approximately 6.8% in early 2020 to about 3.8% by early 2025, indicating a reduction in leased vehicle assets or fleet optimization strategies.
- Solar energy systems, net
- This asset class witnessed a notable decrease from around 16.4% in early 2020 to less than 3.5% by early 2025, reflecting a possible divestiture, asset impairment, or strategic de-emphasis on solar energy equipment.
- Property, plant and equipment, net
- The ratio of property, plant, and equipment remained relatively stable, hovering between approximately 25.9% and 30.4% across the timeframe. Minor fluctuations indicate continuous investment and depreciation maintaining a consistent asset base in this category.
- Operating lease right-of-use assets
- Right-of-use assets increased moderately as a percentage of total assets, from just over 3.2% in early 2020 to above 4.3% by early 2025, suggesting incremental growth in leased asset commitments.
- Digital assets
- Digital assets showed moderate fluctuations, with an initial presence in 2020 rising to around 2.5%, then declining to low levels close to 0.15%-0.2% through 2023, followed by a slight increase to near 1% in early 2025. These shifts may indicate changes in the valuation or holdings of digital asset investments.
- Intangible assets, net
- Intangible assets steadily decreased from just under 0.9% to around 0.1% from early 2020 to early 2025, indicating amortization or divestiture of intangible items over time.
- Goodwill
- Goodwill as a proportion of total assets diminished slightly from about 0.52% in early 2020 to 0.19% by early 2025, reflecting asset impairments or sale of businesses with goodwill.
- Deferred tax assets
- Starting mid-2023, deferred tax assets constituted a notable portion around 6.3% of total assets, gradually declining to approximately 5% by early 2025, signaling changes in tax positions or asset realizability.
- Other non-current assets
- Other non-current assets showed mild volatility, increasing from roughly 3.7% in early 2020 to a peak above 5.8% in late 2023 before decreasing to approximately 4.4% by early 2025, indicating shifts in miscellaneous long-lived asset compositions.
- Non-current assets
- Non-current assets decreased from around 60% of total assets in early 2020 to just above 50% by the end of 2022, then stabilized near 52% through early 2025. This shift reflects a gradual rebalancing between current and non-current asset holdings.
- Total assets
- By definition, total assets remain at 100% throughout the entire period, serving as the baseline for the composition analysis of asset categories.