Stock Analysis on Net
Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Common-Size Balance Sheet: Assets 
Quarterly Data

Tesla Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 12.12 13.07 13.22 15.11 12.97 10.81 15.38 16.96 16.88 18.48 19.74 26.24 26.75 26.51 28.29 27.78 29.43 32.36 37.17 31.80 22.59 21.69
Short-term investments 16.49 16.50 16.73 12.96 14.26 13.79 11.91 10.80 8.59 7.32 7.20 2.12 0.86 0.77 0.21 0.05 0.00 0.00 0.00 0.00 0.00 0.00
Accounts receivable, net 2.99 3.02 3.62 2.76 3.31 3.56 3.29 2.68 3.81 3.45 3.59 2.95 3.04 3.50 3.08 3.39 3.86 3.57 3.62 3.85 3.89 3.42
Inventory 11.33 10.96 9.84 12.12 12.58 14.68 12.78 14.61 15.85 16.55 15.59 13.88 11.83 10.13 9.27 8.99 8.58 7.80 7.86 9.23 10.54 12.06
Prepaid expenses and other current assets 4.62 3.92 4.39 4.08 3.83 3.44 3.18 2.88 3.31 3.72 3.57 3.18 3.09 3.08 2.77 3.02 2.91 2.91 2.58 2.71 3.19 2.81
Current assets 47.55% 47.47% 47.81% 47.04% 46.95% 46.27% 46.54% 47.93% 48.43% 49.52% 49.69% 48.36% 45.57% 43.99% 43.62% 43.23% 44.78% 46.64% 51.23% 47.59% 40.22% 39.98%
Operating lease vehicles, net 4.07 4.38 4.57 4.49 4.91 5.25 5.62 6.51 6.55 6.30 6.12 6.48 6.98 7.19 7.26 7.21 6.80 6.41 5.93 6.00 6.62 6.78
Solar energy systems, net 3.72 3.88 4.03 4.21 4.52 4.73 4.90 5.63 5.92 6.25 6.67 7.47 8.21 8.61 9.28 10.07 10.67 11.20 11.47 13.19 15.91 16.39
Property, plant and equipment, net 30.00 29.64 29.36 30.13 29.16 28.78 27.88 29.53 29.13 28.76 28.60 29.46 30.79 30.33 30.39 29.91 28.41 26.18 24.44 25.93 28.87 28.56
Operating lease right-of-use assets 4.38 4.26 4.23 4.06 4.04 4.00 3.92 3.87 3.70 3.22 3.11 3.02 3.19 3.30 3.24 3.39 3.14 3.11 2.99 3.01 3.34 3.21
Digital assets 0.96 0.76 0.88 0.15 0.16 0.17 0.17 0.20 0.20 0.21 0.22 0.29 0.32 1.91 2.03 2.18 2.38 2.51 0.00 0.00 0.00 0.00
Intangible assets, net 0.11 0.12 0.12 0.13 0.15 0.16 0.17 0.20 0.22 0.23 0.26 0.31 0.35 0.38 0.41 0.47 0.51 0.56 0.60 0.70 0.82 0.87
Goodwill 0.20 0.20 0.20 0.21 0.22 0.23 0.24 0.27 0.29 0.22 0.24 0.26 0.29 0.30 0.32 0.35 0.37 0.39 0.40 0.44 0.51 0.52
Deferred tax assets 5.23 5.34 5.34 5.41 5.93 6.20 6.32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other non-current assets 3.78 3.95 3.45 4.16 3.95 4.23 4.25 5.85 5.55 5.28 5.09 4.35 4.31 3.99 3.44 3.21 2.95 3.00 2.95 3.14 3.71 3.69
Non-current assets 52.45% 52.53% 52.19% 52.96% 53.05% 53.73% 53.46% 52.07% 51.57% 50.48% 50.31% 51.64% 54.43% 56.01% 56.38% 56.77% 55.22% 53.36% 48.77% 52.41% 59.78% 60.02%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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 as a percentage of total assets demonstrated an overall declining trend from 37.17% at the end of 2020 to 12.12% by mid-2025. This represents a significant reduction in liquid assets relative to total assets over the observed period.
Short-term Investments
Short-term investments were not present or negligible until late 2021, after which they steadily increased from 0.05% to around 16.49% by end of 2025. This growth suggests a strategic shift towards allocating more assets in short-term investments.
Accounts Receivable, Net
The accounts receivable component showed some fluctuations but generally remained in the narrow range of roughly 2.68% to 3.86%. There was no clear upward or downward trend, indicating relatively stable credit sales and collection practices in proportion to total assets.
Inventory
Inventory as a share of total assets exhibited a steady increase from mid-2020 (approximately 7.86%) reaching a peak near 16.55% during early 2023 before decreasing slightly toward about 11% by mid-2025. This pattern may reflect expansions in production or stockpiling followed by optimization or sales improvement.
Prepaid Expenses and Other Current Assets
This category increased gradually over the years, rising from around 2.58% at the end of 2020 to approximately 4.62% by mid-2025, suggesting a moderate rise in advance payments and other liquid current assets.
Current Assets
Current assets as a percentage of total assets peaked at over 51% around the end of 2020 and gradually tapered off to about 47.55% by mid-2025. Despite some decline, current assets consistently composed a large portion of total assets, highlighting significant liquidity.
Operating Lease Vehicles, Net
The share of operating lease vehicles decreased from approximately 7.26% at the end of 2021 to 4.07% by mid-2025, indicating a reduction in leased vehicle assets relative to total assets.
Solar Energy Systems, Net
A decreasing trend was observed in solar energy systems from 16.39% in early 2020 down to approximately 3.72% by mid-2025, showing a significant decline in this asset class proportion over time.
Property, Plant and Equipment, Net
The percentage of property, plant, and equipment remained relatively stable, fluctuating between about 24.44% and 30.79%. This suggests consistent investment and maintenance in fixed assets throughout the period.
Operating Lease Right-of-Use Assets
Operating lease right-of-use assets showed a gradual increase from 2.99% at the end of 2020 to over 4.38% by mid-2025, implying growth in leased asset recognition on the balance sheet.
Digital Assets
Digital assets appeared from early 2021, peaked around 2.51% and then sharply declined to below 1% before slightly increasing again, indicating volatility and a minor presence within total assets.
Intangible Assets, Net
Intangible assets as a percentage of total assets consistently decreased from 0.87% in early 2020 to around 0.11% by mid-2025, reflecting amortization or lower valuation of intangible assets.
Goodwill
Goodwill showed a gradual decline from 0.52% in early 2020 to stabilizing at about 0.20% starting around 2023, suggesting little to no recent acquisitions adding goodwill or amortization impacts.
Deferred Tax Assets
Deferred tax assets emerged in the data starting in 2023 at approximately 6.32%, slightly decreasing to about 5.23% by mid-2025, indicating recognition and gradual utilization of deferred tax benefits.
Other Non-current Assets
Other non-current assets fluctuated but overall showed a mild decline from 3.69% early on to roughly 3.78% by mid-2025, indicating relative stability with minor oscillations.
Non-current Assets
Non-current assets declined as a proportion of total assets from over 60% in early 2020 to about 52.45% by mid-2025, reflecting a shift toward increased current asset allocation and possibly a relative reduction in fixed or long-term assets.