Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Tesla Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 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).
An overall strengthening of the liquidity position is evident throughout the analyzed period, characterized by a consistent upward trajectory across all primary liquidity metrics. The transition from March 2022 to March 2026 reflects a systematic increase in the ability to cover short-term obligations, with a notable acceleration in liquidity growth beginning in mid-2024.
- Current Ratio
- The current ratio demonstrates a steady increase from 1.35 in March 2022 to a peak of 2.16 in December 2025, ending at 2.04 in March 2026. This growth indicates a significant expansion of current assets relative to current liabilities. A distinct shift occurs between December 2023 and June 2024, where the ratio moves from 1.73 to 1.91, suggesting a strategic accumulation of short-term assets or a reduction in short-term debt.
- Quick Ratio
- The quick ratio remained relatively stagnant, fluctuating between 0.93 and 0.96 through the first half of 2023. A positive inflection point is observed in September 2023, when the ratio first exceeded 1.0. The ratio continued to climb, reaching 1.53 by December 2025. The narrowing gap between the current ratio and the quick ratio suggests that while inventory remains a component of liquidity, the company has become less dependent on inventory liquidation to meet its immediate financial obligations.
- Cash Ratio
- The cash ratio exhibits a pattern similar to the quick ratio, showing stability between 0.82 and 0.87 from March 2022 to June 2023. A significant strengthening is noted from September 2023 onwards, with the ratio surpassing the 1.0 threshold in December 2023. The peak value of 1.39 in December 2025 indicates that cash and cash equivalents alone are more than sufficient to cover all current liabilities, reflecting a highly conservative and liquid financial posture.
The synchronization of the upward trends across all three ratios suggests a deliberate increase in the cash cushion. The period between June 2024 and December 2025 represents the most aggressive phase of liquidity buildup, ending with a robust financial position that provides substantial flexibility for operational needs or strategic investments.
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Current Ratio
Tesla Inc., current ratio calculation (quarterly data)
| Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Current assets | 69,748) | 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) | ||||||
| Current liabilities | 34,138) | 31,714) | 31,290) | 30,008) | 29,753) | 28,821) | 30,577) | 27,729) | 29,453) | 28,748) | 26,640) | 27,592) | 27,436) | 26,709) | 24,611) | 21,821) | 21,455) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Current ratio1 | 2.04 | 2.16 | 2.07 | 2.04 | 2.00 | 2.02 | 1.84 | 1.91 | 1.72 | 1.73 | 1.69 | 1.59 | 1.57 | 1.53 | 1.46 | 1.43 | 1.35 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | — | 1.07 | 1.12 | 1.10 | 1.13 | 1.16 | 1.15 | 1.17 | 1.17 | 1.20 | 1.21 | 1.20 | 1.20 | 1.20 | 1.20 | 1.16 | 1.17 | ||||||
| General Motors Co. | — | 1.17 | 1.23 | 1.22 | 1.21 | 1.13 | 1.21 | 1.18 | 1.16 | 1.08 | 1.14 | 1.15 | 1.10 | 1.10 | 1.14 | 1.15 | 1.11 | ||||||
Based on: 10-Q (reporting date: 2026-03-31), 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).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 69,748 ÷ 34,138 = 2.04
2 Click competitor name to see calculations.
An analysis of the liquidity position reveals a sustained improvement in short-term solvency from March 2022 through March 2026. The overall trajectory indicates a systematic strengthening of the balance sheet, characterized by current assets growing at a significantly faster rate than current liabilities.
- Current Asset Expansion
- Current assets exhibited consistent growth, rising from 29,050 million US$ in March 2022 to 69,748 million US$ by March 2026. This steady upward trend reflects a substantial increase in the liquid resources available to meet short-term obligations over the analyzed period.
- Current Liability Management
- Current liabilities increased from 21,455 million US$ in March 2022 to 34,138 million US$ in March 2026. The growth of liabilities was more moderate than that of assets, with noticeable volatility occurring in late 2024, where liabilities decreased from 30,577 million US$ in September to 28,821 million US$ in December.
- Current Ratio Progression
- The current ratio demonstrates a steady upward trend, beginning at 1.35 in March 2022 and reaching a peak of 2.16 in December 2025. The breach of the 2.0 threshold in December 2024 indicates a transition to a highly conservative liquidity position. A minor correction to 2.04 was observed in March 2026, though the ratio remains well above the initial baseline established in 2022.
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Quick Ratio
Tesla Inc., quick ratio calculation (quarterly data)
| Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 16,603) | 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) | ||||||
| Short-term investments | 28,140) | 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) | ||||||
| Accounts receivable, net | 3,959) | 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) | ||||||
| Total quick assets | 48,702) | 48,635) | 46,350) | 40,620) | 40,778) | 40,981) | 36,961) | 34,457) | 30,750) | 32,602) | 28,597) | 26,522) | 25,395) | 25,137) | 23,299) | 20,996) | 20,324) | ||||||
| Current liabilities | 34,138) | 31,714) | 31,290) | 30,008) | 29,753) | 28,821) | 30,577) | 27,729) | 29,453) | 28,748) | 26,640) | 27,592) | 27,436) | 26,709) | 24,611) | 21,821) | 21,455) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Quick ratio1 | 1.43 | 1.53 | 1.48 | 1.35 | 1.37 | 1.42 | 1.21 | 1.24 | 1.04 | 1.13 | 1.07 | 0.96 | 0.93 | 0.94 | 0.95 | 0.96 | 0.95 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | — | 0.90 | 0.94 | 0.91 | 0.92 | 0.98 | 0.94 | 0.96 | 0.95 | 1.01 | 0.99 | 0.99 | 0.99 | 1.02 | 0.99 | 0.95 | 0.96 | ||||||
| General Motors Co. | — | 0.92 | 0.98 | 0.97 | 0.96 | 0.90 | 0.95 | 0.91 | 0.88 | 0.83 | 0.88 | 0.88 | 0.82 | 0.86 | 0.88 | 0.85 | 0.84 | ||||||
Based on: 10-Q (reporting date: 2026-03-31), 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).
1 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 48,702 ÷ 34,138 = 1.43
2 Click competitor name to see calculations.
The analyzed period exhibits a significant strengthening of the company's short-term liquidity position, characterized by a steady increase in liquid assets relative to current obligations.
- Growth in Quick Assets
- Total quick assets demonstrated a consistent upward trajectory, increasing from 20,324 million US dollars in March 2022 to 48,702 million US dollars by March 2026. This represents more than a doubling of liquid resources over the observed timeframe, with notable acceleration occurring between December 2023 and December 2025.
- Current Liabilities Trend
- Current liabilities remained relatively stable in comparison to the growth of assets. While obligations rose from 21,455 million US dollars in March 2022 to 34,138 million US dollars in March 2026, the growth was moderate and non-linear, experiencing periods of contraction, such as between September 2023 and June 2024.
- Quick Ratio Evolution
- The quick ratio underwent a structural shift from a position of slight deficiency to a position of strength. Between March 2022 and June 2023, the ratio fluctuated between 0.93 and 0.96, indicating that quick assets were insufficient to cover current liabilities. A pivotal transition occurred in September 2023, when the ratio first exceeded 1.0. This upward trend continued, peaking at 1.53 in December 2025 before adjusting to 1.43 in March 2026.
The divergence between the rapid accumulation of quick assets and the controlled growth of current liabilities has resulted in a substantially improved liquidity buffer. This trend indicates a reduced reliance on inventory liquidation to meet short-term financial commitments and an overall increase in financial flexibility.
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Cash Ratio
Tesla Inc., cash ratio calculation (quarterly data)
| Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 16,603) | 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) | ||||||
| Short-term investments | 28,140) | 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) | ||||||
| Total cash assets | 44,743) | 44,059) | 41,647) | 36,782) | 36,996) | 36,563) | 33,648) | 30,720) | 26,863) | 29,094) | 26,077) | 23,075) | 22,402) | 22,185) | 21,107) | 18,915) | 18,013) | ||||||
| Current liabilities | 34,138) | 31,714) | 31,290) | 30,008) | 29,753) | 28,821) | 30,577) | 27,729) | 29,453) | 28,748) | 26,640) | 27,592) | 27,436) | 26,709) | 24,611) | 21,821) | 21,455) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Cash ratio1 | 1.31 | 1.39 | 1.33 | 1.23 | 1.24 | 1.27 | 1.10 | 1.11 | 0.91 | 1.01 | 0.98 | 0.84 | 0.82 | 0.83 | 0.86 | 0.87 | 0.84 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | — | 0.33 | 0.36 | 0.33 | 0.32 | 0.36 | 0.34 | 0.33 | 0.33 | 0.40 | 0.41 | 0.42 | 0.41 | 0.45 | 0.45 | 0.42 | 0.46 | ||||||
| General Motors Co. | — | 0.30 | 0.32 | 0.31 | 0.30 | 0.28 | 0.34 | 0.32 | 0.28 | 0.28 | 0.36 | 0.35 | 0.31 | 0.34 | 0.35 | 0.34 | 0.33 | ||||||
Based on: 10-Q (reporting date: 2026-03-31), 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).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 44,743 ÷ 34,138 = 1.31
2 Click competitor name to see calculations.
An analysis of liquidity indicates a substantial strengthening of the cash position from March 2022 through March 2026. The primary indicator, the cash ratio, demonstrates a clear upward trajectory, evolving from a state of partial coverage to a position where cash assets consistently exceed current liabilities.
- Total Cash Assets Growth
- Cash holdings experienced steady and significant growth, rising from 18,013 million USD in March 2022 to 44,743 million USD by March 2026. This represents a consistent accumulation of liquid reserves over the observed period.
- Current Liabilities Management
- Current liabilities increased at a slower pace than cash assets, growing from 21,455 million USD to 34,138 million USD. Periods of relative stability in liabilities, particularly between September 2023 and December 2024, facilitated the improvement in overall liquidity metrics.
- Cash Ratio Evolution
- The cash ratio remained below the 1.0 threshold between March 2022 and June 2023, fluctuating within a narrow range of 0.82 to 0.87. A structural shift is observed starting in September 2023, with the ratio surpassing 1.0 in December 2023. From June 2024 onward, the ratio remained consistently above 1.0, reaching a peak of 1.39 in December 2025 and ending at 1.31 in March 2026. This trend indicates an enhanced capacity to settle all short-term obligations using only cash and cash equivalents.
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