Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Dividend Discount Model (DDM)
- Net Profit Margin since 2010
- Operating Profit Margin since 2010
- Return on Equity (ROE) since 2010
- Return on Assets (ROA) since 2010
- Price to Earnings (P/E) since 2010
- Analysis of Debt
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Tesla Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The company’s cash flow statement reveals a volatile pattern over the observed period, spanning from March 2021 to December 2025. While operating activities generally provide a net cash inflow, significant fluctuations are evident, particularly in later periods. Investing and financing activities demonstrate substantial cash outflows, with notable shifts occurring throughout the timeframe. Overall cash and cash equivalents exhibit considerable variability.
- Net Income & Operating Activities
- Net income initially increased significantly from $464 million in March 2021 to $2,343 million in December 2021. However, it experienced a decline in the first half of 2022 before rising again to $3,707 million in December 2022. A substantial drop occurred in early 2023, followed by a peak of $7,943 million in December 2023, and then a sharp decrease to $856 million by December 2025. Net cash provided by operating activities generally mirrored this trend, starting at $1,641 million in March 2021, peaking at $6,255 million in September 2024, and declining to $3,813 million by December 2025. Adjustments to reconcile net income to net cash from operations were consistently positive, though the magnitude varied considerably, with a large negative adjustment in December 2023 (-$3,573 million).
- Investing Activities
- Net cash used in investing activities was consistently negative throughout the period, indicating ongoing investments. The largest outflows occurred in December 2022 (-$6,131 million) and December 2025 (-$6,528 million). Significant purchases of investments were observed, particularly in 2022 and 2023, partially offset by proceeds from maturities and sales of investments. A notable purchase of digital assets occurred in March 2021 (-$1,500 million), with subsequent gains and losses recorded in later periods. Purchases of property and equipment remained consistently high, ranging from approximately $1.36 billion to $3.51 billion per quarter.
- Financing Activities
- Financing activities exhibited substantial fluctuations. Net cash provided by financing activities was positive in several quarters, notably in September 2023 ($2,263 million) and March 2024 ($887 million), driven by proceeds from issuances of debt and stock issuances. However, significant net cash outflows were also recorded, particularly in March 2021 (-$1,016 million) and June 2021 (-$1,549 million), primarily due to repayments of debt. Distributions to noncontrolling interests also contributed to cash outflows. The company experienced a large inflow from proceeds received from directors in shareholder settlement in March 2025 ($277 million) offset by a payment of legal fees associated with the same settlement (-$176 million).
- Key Non-Cash Items
- Depreciation, amortization, and impairment consistently contributed a significant positive adjustment to operating cash flow, ranging from $621 million to $1,625 million per quarter. Stock-based compensation also represented a substantial non-cash expense, fluctuating between $361 million and $954 million. Inventory and purchase commitment write-downs, while smaller in magnitude, were present in most quarters. Foreign currency transaction gains and losses introduced volatility, with significant gains in some quarters and substantial losses in others. Deferred income taxes also had a notable impact, particularly a large negative adjustment in December 2023 (-$6,033 million).
- Cash Position
- The effect of exchange rate changes on cash and cash equivalents varied, introducing additional fluctuations. The net increase or decrease in cash and cash equivalents was highly volatile, with significant decreases in several quarters, most notably in March 2021 (-$2,178 million) and March 2024 (-$4,725 million), and substantial increases in September 2024 ($3,620 million). This indicates a dynamic cash management strategy and sensitivity to various financial factors.