Tesla, Inc. (TSLA) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 3.94B | 3.81B | 6.24B | 2.54B | 2.16B | 4.81B | 6.25B | 3.61B | 242M | 4.37B | 3.31B | 3.06B | 2.51B | 3.28B | 5.1B | 2.35B | 4B | 4.58B | 3.15B | 2.12B |
| Operating CF Margin % | 17.59% | 15.31% | 22.2% | 11.29% | 11.15% | 18.73% | 24.84% | 14.16% | 1.14% | 17.36% | 14.17% | 12.3% | 10.77% | 13.48% | 23.77% | 13.88% | 21.3% | 25.88% | 22.88% | 17.76% |
| Operating CF Growth % | 82.61% | -20.79% | -0.27% | -29.68% | 790.91% | 10.16% | 89.09% | 17.85% | -90.37% | 33.31% | -35.14% | 30.37% | -37.1% | -28.51% | 62.06% | 10.69% | 143.45% | 51.87% | 31.13% | 120.33% |
| Net Income | 491M | 840M | 1.37B | 1.17B | 409M | 2.31B | 2.17B | 1.4B | 1.14B | 7.93B | 1.85B | 2.7B | 2.52B | 3.69B | 3.29B | 2.26B | 3.28B | 2.34B | 1.62B | 1.14B |
| Depreciation & Amortization | 1.59B | 1.64B | 1.63B | 1.43B | 1.45B | 1.5B | 1.35B | 1.28B | 1.25B | 1.23B | 1.24B | 1.15B | 1.05B | 989M | 956M | 922M | 880M | 848M | 761M | 681M |
| Stock-Based Compensation | 1.03B | 954M | 663M | 635M | 573M | 579M | 457M | 439M | 524M | 484M | 465M | 445M | 418M | 419M | 362M | 361M | 418M | 558M | 475M | 474M |
| Deferred Taxes | -136M | -111M | 225M | 52M | -43M | 59M | 285M | 122M | 63M | -279M | 0 | -148M | -55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.11B | 685M | 253M | -79M | 324M | -682M | 419M | 219M | -74M | -5.81B | 59M | 12M | 121M | 374M | 259M | 158M | 19M | 499M | 294M | 151M |
| Working Capital Changes | -146M | -214M | 2.08B | -673M | -554M | 1.03B | 1.57B | 138M | -2.66B | 798M | -302M | -1.1B | -1.53B | -2.19B | 231M | -1.35B | -602M | 337M | -1M | -324M |
| Change in Receivables | 561M | 45M | -907M | -29M | 630M | -1.23B | 429M | 137M | -422M | -963M | 881M | -472M | -32M | -698M | -193M | 176M | -409M | 18M | 135M | -259M |
| Change in Inventory | -2.25B | -214M | 1.99B | -703M | -1.7B | 2.04B | -193M | 1.78B | -2.7B | 758M | 163M | -576M | -1.54B | -1.97B | -2.3B | -1.56B | -633M | -534M | -488M | -155M |
| Change in Payables | 1.4B | 1.4B | 1.65B | 627M | 706M | 1.08B | 2.25B | -998M | 1.25B | 2.63B | -2M | 137M | 797M | 1.37B | 3.25B | 409M | 997M | 1.81B | 1.17B | 345M |
| Cash from Investing | -5.02B | -6.53B | -4.36B | -2.94B | -1.65B | -7.6B | -2.88B | -3.23B | -5.08B | -4.8B | -4.76B | -3.53B | -2.48B | -6.13B | -2.79B | -884M | -2.17B | -1.92B | -1.85B | -1.51B |
| Capital Expenditures | -2.49B | -2.39B | -2.25B | -2.39B | -1.49B | -2.78B | -3.51B | -2.27B | -2.78B | -2.31B | -2.46B | -2.06B | -2.07B | -1.86B | -1.8B | -1.73B | -1.77B | -1.81B | -1.82B | -1.51B |
| CapEx % of Revenue | 11.14% | 9.61% | 8% | 10.64% | 7.72% | 10.81% | 13.95% | 8.91% | 13.04% | 9.17% | 10.53% | 8.26% | 8.89% | 7.64% | 8.4% | 10.22% | 9.45% | 10.24% | 13.27% | 12.67% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -23M | -101M | -37M | 12M | -79M | 0 | 0 | 0 | 0 | -6M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23M | 101M | 37M | 0 | 3M | 0 | 76M | 0 | 936M | -3M | 0 | 0 | 0 |
| Cash from Financing | 1.17B | 710M | 983M | -222M | -332M | 985M | 132M | 2.54B | 196M | 887M | 2.26B | -328M | -233M | -495M | -712M | -406M | -1.91B | -1.26B | -1.38B | -1.55B |
| Debt Issued (Net) | 794M | -2.52B | 513M | -422M | -724M | 577M | -181M | 2.39B | 79M | 817M | 2.06B | -357M | -408M | -497M | -899M | -402M | -2.07B | -1.46B | -1.53B | -1.59B |
| Equity Issued (Net) | 361M | -818M | 512M | 215M | 313M | 453M | 340M | 197M | 251M | 152M | 254M | 63M | 231M | 67M | 229M | 43M | 202M | 262M | 192M | 70M |
| Dividends Paid | -70M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 87M | 4.05B | -42M | -15M | 79M | -45M | -27M | -45M | -134M | -82M | -55M | -34M | -56M | -65M | -42M | -47M | -48M | -63M | -47M | -31M |
| Net Change in Cash | 39M | -1.97B | 2.85B | -515M | 213M | -1.94B | 3.62B | 2.89B | -4.72B | 599M | 711M | -891M | -154M | -3.23B | 1.26B | 847M | -104M | 1.45B | -131M | -898M |
| Free Cash Flow | 1.44B | 1.42B | 3.99B | 146M | 664M | 2.03B | 2.74B | 1.34B | -2.54B | 2.06B | 849M | 1B | 440M | 1.42B | 3.3B | 621M | 2.21B | 2.77B | 1.32B | 609M |
| FCF Margin % | 6.45% | 5.7% | 14.2% | 0.65% | 3.43% | 7.91% | 10.89% | 5.25% | -11.9% | 8.2% | 3.64% | 4.03% | 1.89% | 5.84% | 15.37% | 3.67% | 11.8% | 15.64% | 9.61% | 5.09% |
| FCF Growth % | 117.47% | -30.19% | 45.51% | -89.1% | 126.19% | -1.41% | 222.97% | 33.33% | -676.14% | 45.28% | -74.25% | 61.84% | -80.13% | -48.75% | 149.39% | 1.97% | 281.62% | 49.78% | -3.78% | 53.02% |
| FCF per Share | 0.41 | 0.40 | 1.13 | 0.04 | 0.19 | 0.58 | 0.78 | 0.38 | -0.73 | 0.59 | 0.24 | 0.29 | 0.13 | 0.41 | 0.95 | 0.18 | 0.64 | 0.64 | 0.39 | 0.18 |
| FCF Conversion (FCF/Net Income) | 8.02x | 4.54x | 4.54x | 2.17x | 5.27x | 2.08x | 2.89x | 2.58x | 0.17x | 0.55x | 1.79x | 1.13x | 1.00x | 0.88x | 1.55x | 1.04x | 1.20x | 1.98x | 1.94x | 1.86x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 126M | 0 | 0 | 0 | 152M | 0 | 0 | 0 | 266M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |