Name: Tesla Inc. (NASDAQ:TSLA) | Common-Size Income Statement (Quarterly)
Creator: Stock Analysis on Net

Common-Size Income Statement
Quarterly Data

Tesla Inc., common-size consolidated income statement (quarterly data)

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	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
Automotive sales	70.85%	69.12%	67.27%	72.46%	70.18%	66.85%	72.58%	74.78%	72.67%	77.27%	81.97%	79.58%	81.92%	80.92%	83.23%	82.90%	80.73%	82.71%	84.80%	82.82%	79.61%	78.80%
Automotive regulatory credits	0.52%	1.70%	2.18%	1.48%	1.95%	3.08%	2.69%	2.93%	3.49%	2.08%	1.72%	2.37%	1.13%	2.23%	1.92%	1.33%	2.03%	3.62%	1.77%	2.03%	2.96%	4.99%
Automotive leasing	1.29%	1.70%	1.61%	1.53%	1.93%	2.31%	1.74%	1.77%	1.80%	2.23%	1.99%	2.09%	2.27%	2.42%	2.46%	2.89%	3.47%	3.56%	3.54%	2.80%	2.78%	2.86%
Automotive revenues	72.66%	72.52%	71.05%	75.48%	74.06%	72.24%	77.01%	79.49%	77.95%	81.58%	85.68%	84.05%	85.32%	85.57%	87.62%	87.13%	86.23%	89.90%	90.11%	87.64%	85.35%	86.65%
Energy generation and storage	11.12%	10.76%	15.41%	12.16%	12.40%	14.12%	11.91%	9.44%	11.82%	7.68%	5.71%	6.68%	6.05%	6.55%	5.39%	5.21%	5.11%	3.28%	3.88%	5.86%	6.70%	4.76%
Services and other	16.22%	16.73%	13.54%	12.37%	13.54%	13.64%	11.08%	11.08%	10.23%	10.74%	8.61%	9.28%	8.63%	7.87%	6.99%	7.67%	8.66%	6.82%	6.00%	6.50%	7.95%	8.60%
Revenues	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%
Automotive sales	-59.73%	-56.35%	-55.72%	-61.81%	-60.31%	-59.28%	-63.28%	-62.52%	-62.60%	-65.24%	-68.35%	-67.05%	-67.56%	-66.11%	-63.46%	-61.06%	-59.96%	-58.19%	-60.33%	-59.24%	-59.53%	-62.15%
Automotive leasing	-0.66%	-0.88%	-0.83%	-0.80%	-1.01%	-1.24%	-0.94%	-0.98%	-0.96%	-1.26%	-1.18%	-1.29%	-1.36%	-1.43%	-1.45%	-1.78%	-2.17%	-2.18%	-2.23%	-1.70%	-1.57%	-1.54%
Automotive cost of revenues	-60.39%	-57.23%	-56.54%	-62.61%	-61.32%	-60.51%	-64.22%	-63.50%	-63.56%	-66.50%	-69.53%	-68.34%	-68.92%	-67.53%	-64.91%	-62.83%	-62.13%	-60.36%	-62.56%	-60.94%	-61.11%	-63.69%
Energy generation and storage	-8.85%	-6.50%	-11.00%	-8.34%	-8.64%	-10.06%	-8.90%	-6.56%	-8.92%	-5.78%	-4.47%	-5.04%	-4.94%	-5.83%	-4.73%	-4.72%	-4.54%	-3.67%	-4.17%	-5.84%	-6.53%	-5.73%
Services and other	-13.93%	-15.18%	-12.34%	-11.07%	-12.80%	-13.12%	-10.62%	-10.10%	-9.57%	-10.36%	-8.37%	-8.72%	-7.96%	-7.30%	-6.60%	-7.36%	-8.33%	-6.86%	-5.91%	-6.61%	-8.25%	-9.26%
Cost of revenues	-83.17%	-78.92%	-79.88%	-82.01%	-82.76%	-83.69%	-83.74%	-80.16%	-82.05%	-82.65%	-82.37%	-82.11%	-81.81%	-80.66%	-76.24%	-74.91%	-75.00%	-70.89%	-72.65%	-73.40%	-75.88%	-78.68%
Gross profit	16.83%	21.08%	20.12%	17.99%	17.24%	16.31%	16.26%	19.84%	17.95%	17.35%	17.63%	17.89%	18.19%	19.34%	23.76%	25.09%	25.00%	29.11%	27.35%	26.60%	24.12%	21.32%
Research and development	-8.40%	-8.69%	-7.16%	-5.80%	-7.06%	-7.29%	-4.96%	-4.13%	-4.21%	-5.40%	-4.35%	-4.97%	-3.78%	-3.30%	-3.33%	-3.42%	-3.94%	-4.61%	-4.18%	-4.44%	-4.82%	-6.41%
Selling, general and administrative	-7.02%	-8.19%	-6.65%	-5.56%	-6.07%	-6.47%	-5.11%	-4.71%	-5.01%	-6.45%	-5.09%	-5.37%	-4.78%	-4.61%	-4.24%	-4.48%	-5.67%	-5.29%	-8.43%	-7.23%	-8.14%	-10.16%
Restructuring and other	0.00%	0.00%	-0.65%	-0.85%	0.00%	-0.49%	-0.03%	-0.22%	-2.44%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.14%	0.00%	-0.84%	0.00%	0.00%	-0.37%	-0.19%	0.97%
Operating expenses	-15.42%	-16.88%	-14.46%	-12.21%	-13.14%	-14.24%	-10.10%	-9.05%	-11.66%	-11.85%	-9.43%	-10.34%	-8.56%	-7.92%	-7.71%	-7.90%	-10.45%	-9.90%	-12.61%	-12.04%	-13.15%	-15.60%
Income from operations	1.41%	4.20%	5.66%	5.78%	4.10%	2.06%	6.16%	10.79%	6.29%	5.50%	8.20%	7.55%	9.62%	11.42%	16.04%	17.19%	14.55%	19.21%	14.75%	14.57%	10.97%	5.72%
Interest income	1.49%	1.94%	1.80%	1.56%	1.74%	2.07%	1.72%	1.70%	1.36%	1.64%	1.32%	1.21%	0.95%	0.91%	0.65%	0.40%	0.15%	0.15%	0.14%	0.07%	0.09%	0.10%
Interest expense	-0.29%	-0.41%	-0.34%	-0.27%	-0.38%	-0.47%	-0.37%	-0.37%	-0.34%	-0.36%	-0.24%	-0.16%	-0.11%	-0.12%	-0.14%	-0.25%	-0.26%	-0.33%	-0.40%	-0.92%	-0.63%	-0.95%
Other income (expense), net	2.09%	-2.39%	-2.38%	-0.10%	1.42%	-0.62%	2.31%	-1.04%	-0.31%	2.08%	-0.58%	0.16%	1.32%	-0.21%	-0.17%	-0.40%	0.17%	0.30%	0.38%	-0.04%	0.38%	0.27%
Income before income taxes	4.71%	3.34%	4.74%	6.97%	6.89%	3.05%	9.82%	11.08%	7.01%	8.86%	8.71%	8.76%	11.78%	12.00%	16.38%	16.95%	14.61%	19.33%	14.87%	13.68%	10.81%	5.13%
(Provision for) benefit from income taxes	-0.71%	-1.15%	-1.31%	-2.03%	-1.60%	-0.87%	-1.48%	-2.39%	-1.45%	-2.27%	22.86%	-0.72%	-1.30%	-1.12%	-1.13%	-1.42%	-1.21%	-1.84%	-1.65%	-1.62%	-0.96%	-0.66%
Net income	3.99%	2.19%	3.44%	4.94%	5.29%	2.17%	8.34%	8.69%	5.55%	6.60%	31.56%	8.04%	10.49%	10.88%	15.24%	15.53%	13.40%	17.49%	13.22%	12.06%	9.85%	4.47%
Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries	-0.05%	-0.06%	-0.06%	-0.06%	-0.08%	-0.06%	-0.06%	-0.06%	-0.06%	-0.07%	-0.06%	-0.11%	0.36%	-0.11%	-0.08%	-0.18%	-0.06%	0.20%	-0.12%	-0.30%	-0.30%	-0.25%
Net income attributable to common stockholders	3.95%	2.13%	3.37%	4.89%	5.21%	2.12%	8.28%	8.63%	5.49%	6.53%	31.50%	7.94%	10.84%	10.77%	15.16%	15.34%	13.34%	17.69%	13.10%	11.76%	9.55%	4.22%

The financial trajectory over the analyzed period is characterized by a strategic shift in revenue composition and a notable compression of operating and net profit margins. While the organization has successfully diversified its income streams away from a primary reliance on automotive sales, this transition has coincided with an increase in cost of revenues and operating expenditures as a percentage of total sales.

Revenue Diversification and Mix: A clear trend of diversification is observable. Automotive revenues, which peaked at 90.11% of total revenues in December 2021, declined to 72.66% by June 2026. This decline was offset by the growth of non-automotive segments. Energy generation and storage increased from 4.76% in March 2021 to a peak of 15.41% in December 2025. Similarly, the services and other category grew from 8.60% to 16.22% over the same period, indicating a transition toward a more balanced revenue model.
Gross Profitability and Cost Structure: Gross profit margins exhibited significant volatility, peaking at 29.11% in March 2022 before entering a general downward trend, ending at 16.83% in June 2026. This contraction is attributed to the cost of revenues, which rose from a low of 70.89% in March 2022 to a high of 83.17% by the end of the period. The cost of automotive sales remained the primary driver of expenses, fluctuating between 55.72% and 68.35% of total revenues.
Operating Expense Analysis: Operating expenses as a percentage of revenue showed an upward trend in the later stages of the period. Research and development costs increased from approximately 4-6% in the early periods to 8.40% by June 2026. Selling, general, and administrative expenses remained relatively stable but ended higher than their mid-period lows, finishing at 7.02%. Total operating expenses rose from 9.90% in March 2022 to 15.42% in June 2026, directly impacting operational efficiency.
Operating and Net Income Trends: Income from operations experienced a severe contraction, falling from a peak of 19.21% in March 2022 to 1.41% in June 2026. Net income margins followed a similar trajectory, generally declining from peaks in 2022 to 3.99% by mid-2026. A significant anomaly occurred in December 2023, where net income spiked to 31.56% due to a substantial tax benefit of 22.86% of revenues, rather than operational performance. Interest income showed a steady increase, rising from 0.10% to 1.49%, providing a minor buffer against declining operational margins.

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Tesla Inc. (NASDAQ:TSLA)

Common-Size Income StatementQuarterly Data

Common-Size Income Statement
Quarterly Data