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: 2026-06-30), 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).
The overall liquidity position demonstrates a consistent strengthening trend from the first quarter of 2022 through the end of 2025, followed by a modest moderation in the first half of 2026. All three key liquidity metrics exhibit a synchronized upward trajectory, indicating a significant increase in the capacity to meet short-term obligations.
- Current Ratio Analysis
- The current ratio increased steadily from 1.35 in March 2022 to a peak of 2.16 in December 2025. This progression reflects a substantial expansion of current assets relative to current liabilities, ensuring a robust safety margin. A slight contraction is observed in the final two quarters of the period, settling at 1.94 by June 2026.
- Quick Ratio Analysis
- The quick ratio remained relatively stable around the 0.95 level through early 2023 before entering a sustained growth phase. It reached a high of 1.53 in December 2025, signifying a transition from a position of near-parity between liquid assets and short-term liabilities to a position of significant surplus, independent of inventory liquidation.
- Cash Ratio Analysis
- The cash ratio followed a similar trajectory, rising from 0.84 in March 2022 to a peak of 1.39 in December 2025. The shift of this ratio above the 1.00 threshold starting in late 2023 indicates that cash and cash equivalents alone became sufficient to cover all current liabilities, representing a highly conservative and liquid financial posture.
A comparative analysis of the three ratios reveals that the narrow variance between the quick ratio and the cash ratio suggests that cash constitutes the primary component of the entity's liquid assets, with minimal reliance on accounts receivable. Additionally, the gap between the current ratio and the quick ratio remained relatively consistent, indicating that inventory levels were managed in proportion to the overall growth of the current asset base.
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Current Ratio
Tesla Inc., current ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | 68,758) | 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 | 35,425) | 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 | 1.94 | 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. | — | 1.09 | 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. | 1.14 | 1.15 | 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: 2026-06-30), 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 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 68,758 ÷ 35,425 = 1.94
2 Click competitor name to see calculations.
A sustained improvement in the short-term liquidity position is observed from March 31, 2022, through June 30, 2026. This trend is characterized by a consistent expansion of current assets that outpaced the growth of current liabilities, resulting in a stronger capacity to meet short-term obligations.
- Current Asset Trajectory
- A consistent upward trend in current assets is evident, with values rising from 29,050 million USD in March 2022 to a peak of 69,748 million USD in March 2026. This represents a significant increase in liquid resources over the analyzed period, maintaining a positive growth slope in nearly every consecutive quarter.
- Current Liability Management
- Current liabilities demonstrated a more moderate and fluctuating growth pattern compared to assets. While liabilities increased from 21,455 million USD in March 2022 to 35,425 million USD by June 2026, several periods of contraction or stabilization occurred, notably between March 2023 and September 2023, and again during the first half of 2024.
- Current Ratio Analysis
- The current ratio exhibited a strong positive correlation with the growth of assets, ascending from 1.35 in March 2022 to a peak of 2.16 in December 2025. The ratio crossed the 2.0 threshold in December 2024, indicating a substantial cushion of liquidity. A slight moderation is observed in the final two quarters of the period, with the ratio declining to 1.94 by June 30, 2026, following a marginal increase in liabilities and a slight reduction in current assets.
Overall, the financial position evolved from a moderate liquidity level to a robust one, with the current ratio remaining well above 1.0 throughout the entire period, thereby mitigating short-term financial risk.
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Quick Ratio
Tesla Inc., quick ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | 15,219) | 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 | 28,305) | 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 | 4,087) | 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 | 47,611) | 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 | 35,425) | 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 | 1.34 | 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. | — | 0.88 | 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. | 0.89 | 0.89 | 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: 2026-06-30), 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 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 47,611 ÷ 35,425 = 1.34
2 Click competitor name to see calculations.
An analysis of the liquidity position reveals a significant strengthening of the short-term financial posture over the observed period. The organization transitioned from a state where quick assets were slightly insufficient to cover current liabilities to a position of substantial liquidity surplus.
- Total Quick Assets Trend
- A consistent and aggressive growth pattern is observed in total quick assets, which increased from 20,324 million US$ in March 2022 to 47,611 million US$ by June 2026. This represents a growth of approximately 134% over the period. The most pronounced acceleration in asset accumulation occurred between December 2023 and December 2025, suggesting a strategic accumulation of highly liquid resources.
- Current Liabilities Management
- Current liabilities exhibited a more moderate and fluctuating upward trend, rising from 21,455 million US$ in March 2022 to 35,425 million US$ in June 2026. While obligations grew, the pace of increase was consistently outstripped by the growth of quick assets, particularly from the second half of 2023 onward.
- Quick Ratio Dynamics
- The quick ratio evolved through three distinct phases. From March 2022 to June 2023, the ratio remained below the 1.0 threshold, fluctuating between 0.93 and 0.96, indicating a reliance on inventory or other current assets to meet immediate obligations. A pivotal shift occurred in September 2023, where the ratio surpassed 1.0 (1.07) and entered a period of expansion, peaking at 1.53 in December 2025. The final two quarters of the period show a slight correction, with the ratio settling at 1.34 by June 2026.
- Liquidity Insight
- The divergence between the rapid growth of quick assets and the controlled increase in current liabilities has resulted in a strengthened liquidity margin. The organization has shifted from a marginal liquidity position to one where it possesses approximately 1.34 times the liquid assets required to satisfy its short-term debts without the need to liquidate inventory.
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Cash Ratio
Tesla Inc., cash ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | 15,219) | 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 | 28,305) | 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 | 43,524) | 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 | 35,425) | 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 | 1.23 | 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. | — | 0.29 | 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. | 0.26 | 0.26 | 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: 2026-06-30), 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 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 43,524 ÷ 35,425 = 1.23
2 Click competitor name to see calculations.
The analysis of the company's immediate liquidity position from March 2022 through June 2026 reveals a significant strengthening of the cash ratio. Over this period, a transition is observed from a position where cash assets were insufficient to cover current liabilities to a state of substantial liquidity surplus.
- Cash Asset Accumulation
- A consistent upward trajectory in total cash assets is evident, growing from 18,013 million US$ in March 2022 to a peak of 44,743 million US$ by March 2026. This represents a substantial increase in liquid reserves over the observed timeframe, despite a slight contraction to 43,524 million US$ in the final quarter of the analysis.
- Current Liabilities Trajectory
- Current liabilities exhibited a general increase, rising from 21,455 million US$ in March 2022 to 35,425 million US$ by June 2026. However, the growth rate of these liabilities remained lower than the growth rate of cash assets, contributing to the overall improvement in the liquidity ratio.
- Cash Ratio Performance and Thresholds
- The cash ratio remained relatively stable and below the 1.0 threshold between March 2022 and March 2023, fluctuating between 0.82 and 0.87. A critical inflection point occurred in December 2023, when the ratio first surpassed 1.0, reaching 1.01. This indicated that the company could cover all its current liabilities using only its most liquid assets.
- Peak Liquidity and Subsequent Stabilization
- Liquidity continued to expand through 2024 and 2025, reaching a peak cash ratio of 1.39 in December 2025. Following this peak, a gradual decline is noted in the first half of 2026, with the ratio settling at 1.23 by June 30, 2026. Despite this recent dip, the liquidity position remains significantly stronger than the baseline levels recorded in 2022.
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