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 Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2010
- Current Ratio since 2010
- Price to Earnings (P/E) since 2010
- Analysis of Revenues
- Aggregate Accruals
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Tesla Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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).
- Net Income
- Net income demonstrates substantial volatility across the periods, initially showing steady growth from 68 million in March 2020 to a peak of 7,943 million in December 2023. However, following this peak, there is a marked decline towards March 2025, with values dropping sharply to 420 million. This cyclic pattern suggests a period of rapid expansion followed by contraction or operational challenges.
- Depreciation, Amortization, and Impairment
- This expense category steadily increases over the examined quarters, rising from 553 million in March 2020 to 1,447 million by March 2025. The consistent upward trend indicates growing capital expenditures and asset base, which may also reflect technological advancements or capacity expansion.
- Stock-Based Compensation
- Stock-based compensation generally fluctuates but maintains an upward trajectory from 211 million in March 2020 to 573 million by March 2025. Despite some variability, this increase suggests ongoing incentives granted to employees and possibly higher retention efforts coinciding with business growth phases.
- Inventory and Purchase Commitments Write-downs
- This item displays variability with notable spikes such as 167 million in June 2023 and consistent fluctuations afterwards. These irregular write-downs could be indicative of supply chain adjustments, inventory obsolescence, or shifts in demand forecast accuracy.
- Foreign Currency Transaction Net Unrealized Gain/Loss
- The data reveals considerable volatility, with gains and losses swinging widely quarter to quarter. For instance, there are large negative values such as -258 million in June 2023 and positive spikes like 287 million in September 2024, reflecting notable exposure to currency fluctuations possibly stemming from international operations.
- Deferred Income Taxes
- Recorded data for deferred income taxes remains sparse but shows sharp values notably a significant negative value of -6,033 million in December 2023. This indicates substantial tax-related adjustments or revaluations during certain quarters, which could impact net earnings and tax planning.
- Non-Cash Interest and Other Operating Activities
- This category fluctuates significantly without a clear trend, ranging from single digit negative figures to highs above 180 million. Such variation may reflect changes in non-cash financial expenses and other operating transaction effects over time.
- Digital Assets (Gain) Loss, Net
- Transaction data is intermittent with significant gains and losses recorded. For example, a substantial loss of -589 million occurs in September 2024, accompanied by positive outcomes in other periods. This irregular pattern suggests speculative or non-core asset involvement influencing overall results.
- Working Capital Components (Accounts Receivable, Inventory, Operating Lease Vehicles, Prepaid Expenses and Other Assets, Accounts Payable and Other Liabilities)
- Working capital items reflect high volatility and irregular patterns:
- Accounts Receivable
- Values alternate between positive and negative figures, indicating inconsistent collection cycles or revenue recognition timing.
- Inventory
- Inventory levels show wide swings from negative to positive figures, notably large negative adjustments in some quarters such as -2,697 million in March 2024, possibly due to changes in sourcing or production adjustments.
- Operating Lease Vehicles
- Generally negative figures with fluctuations imply ongoing changes in leased asset management or fleet composition.
- Prepaid Expenses and Other Assets
- Fluctuations with generally negative values may correspond to investments in prepayments and other current assets.
- Accounts Payable, Accrued and Other Liabilities
- Substantial variability, including large positive spikes reaching over 3,700 million (September 2022), likely reflecting payment timing, supplier credit management, or accrual adjustments.
- Changes in Operating Assets and Liabilities
- This aggregate metric displays sharp fluctuations from large positive values (e.g., 1,242 million in December 2020) to significant negatives (e.g., -2,661 million in March 2024), illustrating dynamic working capital changes influencing cash flows.
- Adjustments to Reconcile Net Income to Net Cash from Operating Activities
- Adjustments vary widely, ranging from large positive reconciliations (2,723 million in December 2020) to considerable negatives (-3,573 million in December 2023), indicating the impact of non-cash expenses and timing differences on operational cash flow.
- Net Cash Provided by Operating Activities
- Operating cash flow generally trends upward from 3019 million in December 2020 to a high of 6,255 million in September 2024, with some decreases towards the latest periods. This upward movement signals strengthening operational liquidity over time despite underlying volatility.
- Purchases of Property and Equipment
- Capital expenditures consistently increase, reaching a peak of 3,513 million in September 2024 before a decline to 1,492 million by March 2025. This pattern implies aggressive asset investment followed by a potential slowdown in capex spending.
- Purchases and Proceeds from Digital Assets
- Digital asset purchases occurred predominantly in early 2021, with proceeds from sales interspersed but limited. This activity suggests a concentrated but brief foray into digital assets, with likely strategic reallocation thereafter.
- Purchases and Sales of Investments
- Investment purchases show an expanding trend, peaking past -15,000 million in March 2025, while sales and maturities also increase substantially. This persistent net outflow reflects ongoing investment activities, possibly related to strategic reserves or financial asset management.
- Net Cash Used in Investing Activities
- Investing cash flows consistently represent outflows, with notable spikes such as -7,603 million in March 2025. These figures confirm heavy investment in fixed assets and financial instruments without significant divestitures to offset spending.
- Financing Activities
- Financing cash flows display considerable variation: early periods record strong positive inflows due to stock issuances and debt proceeds, followed by net outflows in middle periods attributable to debt repayments and reduced financing activity. The variability suggests active capital structure management responsive to operational needs and market conditions.
- Effect of Exchange Rate Changes
- Exchange rate impacts on cash fluctuate between negative and positive values with no consistent direction, indicating exposure to currency risks tied to international transactions.
- Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash
- Cash balances show pronounced variability, with large positive spikes (e.g., 5,897 million in September 2020) counterbalanced by significant declines (e.g., -4,725 million in March 2024). This reflects the cumulative effects of operating, investing, and financing cash flows alongside currency and other adjustments.