Stock Analysis on Net
Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Tesla Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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
Accounts payable 10.28 10.77 10.22 12.23 11.57 13.48 13.54 14.84 16.86 18.32 18.53 18.67 16.36 16.92 16.14 14.28 13.71 12.55 11.60 10.85 9.54 10.66
Accrued liabilities and other 8.96 8.63 8.78 8.85 8.52 8.46 8.52 8.13 8.45 8.43 8.67 8.39 8.81 8.94 9.20 9.41 8.66 7.69 7.39 7.12 8.16 7.58
Deferred revenue 2.52 2.59 2.60 2.53 2.48 2.77 2.69 2.35 2.40 2.02 2.12 2.59 2.71 2.41 2.33 3.11 3.07 3.01 2.80 2.75 2.96 3.18
Current portion of debt and finance leases 1.59 1.79 2.01 1.91 2.01 2.25 2.23 3.05 2.74 2.83 3.12 3.41 3.96 4.22 4.05 4.40 4.25 4.84 5.53 8.39 11.52 10.75
Current liabilities 23.34% 23.78% 23.61% 25.51% 24.58% 26.97% 26.96% 28.36% 30.46% 31.60% 32.44% 33.07% 31.85% 32.49% 31.72% 31.21% 29.69% 28.08% 27.32% 29.11% 32.18% 32.18%
Debt and finance leases, net of current portion 4.03 4.23 4.72 4.51 4.86 2.65 2.68 2.58 0.96 1.46 1.94 2.82 4.23 4.77 8.44 11.13 14.27 17.09 18.32 23.11 27.31 28.63
Deferred revenue, net of current portion 2.93 2.89 2.72 2.80 2.98 2.94 3.05 3.26 3.33 3.35 3.41 3.04 3.23 3.31 3.30 2.36 2.39 2.44 2.46 2.70 3.14 3.22
Other long-term liabilities 8.98 8.82 8.60 8.19 7.98 7.76 7.65 7.79 7.64 6.89 6.47 5.82 5.73 5.81 5.71 6.03 6.05 6.20 6.39 6.67 7.53 7.16
Long-term liabilities 15.93% 15.94% 16.03% 15.49% 15.81% 13.36% 13.38% 13.63% 11.94% 11.70% 11.82% 11.68% 13.19% 13.90% 17.45% 19.52% 22.71% 25.73% 27.17% 32.48% 37.98% 39.01%
Total liabilities 39.28% 39.72% 39.64% 41.00% 40.39% 40.33% 40.34% 41.99% 42.40% 43.30% 44.26% 44.75% 45.04% 46.39% 49.17% 50.73% 52.40% 53.82% 54.49% 61.59% 70.16% 71.19%
Redeemable noncontrolling interests in subsidiaries 0.05 0.05 0.05 0.06 0.06 0.07 0.23 0.29 0.32 0.47 0.50 0.57 0.61 0.70 0.91 1.05 1.10 1.13 1.16 1.33 1.61 1.70
Convertible senior notes 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 0.00 0.00 0.00 0.10 0.11 0.12 0.16
Preferred stock; $0.001 par value; no shares issued and outstanding 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock; $0.001 par value 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 31.39 31.54 31.43 31.11 32.30 32.74 32.73 36.41 36.91 37.86 39.08 42.45 45.17 46.16 47.97 50.01 51.15 52.15 52.27 47.22 41.68 41.32
Accumulated other comprehensive income (loss) 0.12 -0.34 -0.55 -0.01 -0.41 -0.37 -0.13 -0.74 -0.45 -0.26 -0.44 -1.27 -0.70 -0.08 0.09 0.21 0.37 0.27 0.70 0.27 -0.10 -0.30
Retained earnings (accumulated deficit) 28.62 28.47 28.84 27.25 27.02 26.56 26.15 21.24 19.98 17.73 15.65 12.36 8.62 5.53 0.53 -3.44 -6.54 -8.97 -10.35 -12.41 -15.73 -16.39
Stockholders’ equity 60.14% 59.67% 59.73% 58.35% 58.91% 58.94% 58.75% 56.91% 56.44% 55.34% 54.29% 53.54% 53.09% 51.61% 48.59% 46.78% 44.98% 43.45% 42.62% 35.09% 25.84% 24.63%
Noncontrolling interests in subsidiaries 0.54 0.56 0.58 0.59 0.64 0.67 0.69 0.80 0.84 0.89 0.95 1.14 1.26 1.31 1.33 1.45 1.53 1.60 1.63 1.88 2.28 2.33
Total equity 60.68% 60.23% 60.31% 58.94% 59.55% 59.61% 59.43% 57.71% 57.28% 56.23% 55.25% 54.69% 54.35% 52.92% 49.92% 48.22% 46.50% 45.05% 44.25% 36.97% 28.12% 26.95%
Total liabilities and equity 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).

Current liabilities
The proportion of current liabilities relative to total liabilities and equity shows a declining trend from 32.18% in March 2020 down to 23.34% by June 2025. This decrease suggests a reduction in short-term obligations over the analyzed period.
Accounts payable
Accounts payable, as a percentage of total liabilities and equity, increased from 10.66% in March 2020 to a peak of 18.67% by September 2022, then steadily declined to around 10.28% by December 2025. This pattern indicates initial growth in trade payables, which subsequently normalized to lower levels.
Accrued liabilities and other
This component fluctuated modestly, rising from 7.58% in March 2020 to peak near 9.41% in September 2021, followed by a slight decline and stabilization around 8.63%-8.96% towards mid-2025. The changes are moderate, reflecting relative stability of accrued expenses and related items.
Deferred revenue
Both current and long-term deferred revenue remained fairly stable through the period. The current portion ranged between 2.0% and 3.0%, while the long-term portion fluctuated slightly between 2.4% and 3.4%. No significant upward or downward trajectory is evident, showing consistency in revenue recognition timing.
Debt and finance leases
The current portion of debt and finance leases decreased significantly from 10.75% at March 2020 to below 2% by June 2025, indicating repayment or refinancing of short-term debt obligations. Similarly, the long-term portion declined from 28.63% to under 5% by late 2022, with a slight fluctuation upward near 4-5% near 2024-2025. Overall, the company reduced its leverage substantially over time.
Other long-term liabilities
These liabilities exhibited a gradual increase from about 7.16% in early 2020 to approximately 8.98% by mid-2025, suggesting some growth in other obligations not classified under debt or current liabilities.
Total liabilities
Total liabilities decreased markedly from 71.19% of total liabilities and equity in early 2020 to around 39% by mid-2025. This significant decline reflects a general deleveraging trend and improved balance sheet strength.
Stockholders’ equity and components
Equity as a percentage of total liabilities and equity rose steadily from 24.63% in March 2020 to over 60% by mid-2025, demonstrating strong growth in shareholder value and retained earnings. Retained earnings especially moved from negative territory (-16.39%) to positive and elevated levels above 28%, highlighting sustained profitability and earnings retention. Additional paid-in capital declined somewhat from above 50% down to roughly 31% by 2025, indicating less reliance on capital contributions behind the equity growth.
Accumulated other comprehensive income (loss)
This category fluctuated around neutral with minor positive and negative swings, ultimately showing no clear upward or downward trend throughout the period.
Noncontrolling interests
Noncontrolling interests in subsidiaries gradually decreased from 2.33% in early 2020 to about 0.54% by mid-2025, signifying possibly reduced minority ownership stakes or consolidation effects.
Overall capital structure trends
The financial data present a clear shift toward stronger equity financing and reduction in both current and long-term liabilities over the examined years. The steady increase in equity percentage combined with substantial debt repayment indicates enhanced financial stability and conservative leverage management. The declining accounts payable and current liabilities likely reflect tighter working capital management.
Summary
In summary, the company demonstrated disciplined financial management characterized by deleveraging, increasing equity base through retained earnings growth, and stable deferred revenue. The transformation from a higher liability proportion to majority equity financing enhances the balance sheet quality and potentially supports long-term sustainable operations.