Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2010
- Operating Profit Margin since 2010
- Analysis of Debt
- Aggregate Accruals
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Tesla Inc., consolidated income statement (quarterly data)
US$ in millions
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).
- Revenue Trends
- Automotive sales showed a rising trend from early 2020 through the end of 2021, peaking in the fourth quarter of 2021. Following that peak, the sales figures displayed volatility with fluctuations through 2025, including notable decreases and recoveries. Automotive regulatory credits contributed intermittently, with a significant increase observed from 2023 onward, reaching higher values in late 2024 and 2025. Automotive leasing revenues remained relatively stable, with slight declines observed in the later part of the period. Energy generation and storage revenue exhibited growth overall, especially from 2023, with rapid increases through mid-2024 and sustained high levels into 2025. Services and other revenues consistently increased throughout the period, indicating steady expansion in this segment. Total revenues followed a similar upward trajectory, increasing consistently until late 2021, with fluctuations thereafter but maintaining higher levels compared to 2020.
- Cost of Revenues and Gross Profit
- Automotive cost of revenues mirrored the revenue pattern, rising until the end of 2021 and fluctuating thereafter with some declines in the mid-2022 to 2023 period but increasing again toward 2025. Costs related to energy generation and storage, and services and other segments, increased commensurately, especially in the latter years. Total cost of revenues increased steadily until late 2021, followed by fluctuations with an overall increasing trend into 2025. Gross profit increased sharply from 2020 to 2021, peaking at the end of 2021. Post-2021, gross profit showed variability, with declines and recoveries but remained above early 2020 levels.
- Operating Expenses
- Research and development expenses generally increased over the period, showing pronounced jumps especially after 2022 and continuing upward through 2025. Selling, general, and administrative expenses increased progressively, with some acceleration around 2021 and remaining elevated through 2025. Restructuring and other expenses appeared irregular with occasional spikes, notably in late 2022 and 2024. Overall operating expenses rose steadily, displaying marked increases from 2021, indicating expanding investment and operational costs.
- Profitability
- Income from operations grew substantially from early 2020 to late 2021, reaching a high point in early 2022. Following this, it experienced fluctuations with periods of decline and partial recovery, but remained positive throughout. Interest income showed a clear increasing trend, with significant growth after 2021. Interest expense generally declined over time, contributing positively to net income. Other income (expense), net, was volatile with substantial swings, including large nonrecurring items in 2023 and 2024. Income before income taxes increased sharply through 2021 and 2022 with fluctuations afterward, maintaining a positive and robust level compared to early years. The provision for income taxes fluctuated, showing periods of benefit and expense, with a notably large income tax benefit in Q1 2023 skewing net figures. Net income followed an upward trajectory through 2021 and 2022, reaching several peaks, with volatility afterward. Net income attributable to common stockholders displayed similar trends, peaking in early 2023 and displaying variable but generally solid profitability figures through mid-2025.