Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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

US$ in millions

	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
Cash and cash equivalents	16,513)	18,289)	15,587)	16,352)	16,139)	18,111)	14,635)	11,805)	16,398)	15,932)	15,296)	16,048)	16,253)	19,532)	18,324)	17,505)	17,576)	16,065)	16,229)	17,141)
Short-term investments	27,546)	23,358)	21,195)	20,644)	20,424)	15,537)	16,085)	15,058)	12,696)	10,145)	7,779)	6,354)	5,932)	1,575)	591)	508)	131)	30)	—)	—)
Accounts receivable, net	4,576)	4,703)	3,838)	3,782)	4,418)	3,313)	3,737)	3,887)	3,508)	2,520)	3,447)	2,993)	2,952)	2,192)	2,081)	2,311)	1,913)	1,962)	2,129)	1,890)
Inventory	12,392)	12,276)	14,570)	13,706)	12,017)	14,530)	14,195)	16,033)	13,626)	13,721)	14,356)	14,375)	12,839)	10,327)	8,108)	6,691)	5,757)	5,199)	4,733)	4,132)
Prepaid expenses and other current assets	7,615)	6,027)	5,943)	4,905)	5,362)	4,888)	4,325)	3,752)	3,388)	2,708)	2,997)	3,227)	2,941)	2,364)	2,118)	2,035)	1,723)	1,746)	1,602)	1,542)
Current assets	68,642)	64,653)	61,133)	59,389)	58,360)	56,379)	52,977)	50,535)	49,616)	45,026)	43,875)	42,997)	40,917)	35,990)	31,222)	29,050)	27,100)	25,002)	24,693)	24,705)
Operating lease vehicles, net	4,912)	5,019)	5,230)	5,477)	5,581)	5,380)	5,541)	5,736)	5,989)	6,119)	5,935)	5,473)	5,035)	4,824)	4,782)	4,745)	4,511)	4,167)	3,748)	3,396)
Solar energy systems, net	4,604)	4,673)	4,788)	4,855)	4,924)	5,040)	5,102)	5,162)	5,229)	5,293)	5,365)	5,427)	5,489)	5,562)	5,624)	5,686)	5,765)	5,821)	5,883)	5,933)
Property, plant and equipment, net	40,643)	39,407)	38,574)	37,088)	35,836)	36,116)	32,902)	31,436)	29,725)	27,744)	26,389)	24,969)	23,548)	21,926)	21,093)	20,027)	18,884)	17,298)	15,665)	13,868)
Operating lease right-of-use assets	6,027)	5,783)	5,633)	5,330)	5,160)	4,867)	4,563)	4,367)	4,180)	3,637)	3,352)	2,800)	2,563)	2,251)	2,185)	2,181)	2,016)	1,962)	1,734)	1,647)
Digital assets	1,008)	1,315)	1,235)	951)	1,076)	184)	184)	184)	184)	184)	184)	184)	184)	218)	218)	1,261)	1,260)	1,260)	1,311)	1,331)
Intangible assets, net	124)	131)	138)	144)	150)	158)	164)	171)	178)	191)	202)	204)	215)	228)	241)	254)	257)	269)	283)	299)
Goodwill	257)	257)	258)	248)	244)	253)	249)	250)	253)	250)	263)	195)	194)	191)	196)	200)	200)	201)	203)	206)
Deferred tax assets	6,925)	6,637)	6,721)	6,687)	6,524)	6,486)	6,692)	6,769)	6,733)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other non-current assets	4,664)	5,860)	4,857)	4,942)	4,215)	4,989)	4,458)	4,616)	4,531)	5,497)	5,026)	4,584)	4,193)	3,236)	2,952)	2,634)	2,138)	1,854)	1,626)	1,587)
Non-current assets	69,164)	69,082)	67,434)	65,722)	63,710)	63,473)	59,855)	58,691)	57,002)	48,915)	46,716)	43,836)	41,421)	38,436)	37,291)	36,988)	35,031)	32,832)	30,453)	28,267)
Total assets	137,806)	133,735)	128,567)	125,111)	122,070)	119,852)	112,832)	109,226)	106,618)	93,941)	90,591)	86,833)	82,338)	74,426)	68,513)	66,038)	62,131)	57,834)	55,146)	52,972)

Total assets exhibited a consistent upward trajectory over the observed period, increasing from $52.972 billion in March 2021 to $137.806 billion in December 2025. This growth was not linear, with periods of accelerated and decelerated expansion. A significant increase in total assets is particularly noticeable between September 2022 and December 2023.

Cash and Cash Equivalents: Cash and cash equivalents demonstrated volatility throughout the period, ranging from a high of $19,532 million in September 2022 to a low of $11,805 million in March 2024. While fluctuating, the balance generally remained above $15 billion for much of the period, suggesting a comfortable liquidity position. A decrease is observed in the latter half of 2023 and early 2024, followed by a partial recovery.
Short-Term Investments: Short-term investments were initially absent but grew substantially, particularly after March 2022. The balance increased from $508 million in March 2022 to $27,546 million by December 2025, indicating an increasing reliance on liquid investments. This growth suggests a strategic shift in asset allocation, potentially to capitalize on investment opportunities or manage excess cash.
Current Assets: Current assets mirrored the overall trend of increasing total assets, rising from $24.705 billion in March 2021 to $68.642 billion in December 2025. The composition of current assets shifted over time, with short-term investments becoming a more significant component. Growth was particularly strong between 2022 and 2024.
Inventory: Inventory levels steadily increased from $4.132 billion in March 2021 to $12.392 billion in December 2025. This growth suggests increasing production and sales volumes, or potentially a build-up of inventory due to supply chain disruptions or anticipated demand. The rate of inventory growth slowed in the latter part of 2023 and 2024.
Non-Current Assets: Non-current assets also exhibited a consistent upward trend, increasing from $28.267 billion in March 2021 to $69.164 billion in December 2025. Property, plant, and equipment constituted the largest portion of non-current assets, with consistent growth throughout the period. Deferred tax assets also showed a significant increase towards the end of the observed period.
Property, Plant, and Equipment: Property, plant, and equipment, net, increased from $13.868 billion in March 2021 to $40.643 billion in December 2025. This substantial growth indicates significant investment in productive capacity, supporting expansion of operations and production capabilities. The growth rate appears to have accelerated in the later years of the period.
Digital Assets: Digital assets experienced a notable increase, particularly between December 2024 and December 2025, rising from $1,076 million to $1,315 million. While initially relatively small, the increasing balance suggests a growing strategic allocation to digital assets.

Overall, the asset base expanded considerably over the analyzed timeframe. The increasing proportion of short-term investments and the substantial growth in property, plant, and equipment suggest a dynamic asset allocation strategy focused on growth and operational expansion.

Assets: Selected Items

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Tesla Inc. (NASDAQ:TSLA)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data