Tesla (TSLA) Stock Analysis
Consumer CyclicalMotor Vehicles & Passenger Car Bodies
Q3 2026 · −0.2% revenue · −0.7% revenue
Beat the trendvs trailing 3-quarter avg
Revenue▼−12.9 ppvs trend
Net income▼−25.3 ppvs trend
Diluted EPS▼−24.1 ppvs trend
Free cash flow▼−91.2 ppvs trend
Outperformed in 0 of 4 metrics
How the cash was deployedQ3 2026
Operating cash flow$14.90B
$13.01B (87.4 %)
Last 8 quarters of revenueLatest quarter highlighted. Q4 reconstructed from the annual filing.
−0.2% −0.7%
25.71BQ4 24*
19.34BQ1 25
22.50BQ2 25
28.09BQ3 25
24.90BQ4 25*
22.39BQ1 26
28.24BQ2 26
28.05BQ3 26
* Q4 is reconstructed from the annual filing (FY − Q1 − Q2 − Q3), since the SEC does not require a Q4 10-Q.
RevenueReversal
$28.05B▼−0.2% ▼−0.7%
25.50B
25.18B
25.71B
19.34B
22.50B
28.09B
24.90B
22.39B
28.24B
28.05B
Net incomeReversal
$787.00M▼−42.7% ▼−29.4%
1.48B
2.17B
2.32B
409.00M
1.17B
1.37B
840.00M
477.00M
1.11B
787.00M
Free cash flowReversal
$1.88B▼−60.8% ▲+435%
−1.19B
1.55B
−4.32B
664.00M
810.00M
4.80B
−6.02B
1.44B
352.00M
1.88B
Diluted Reversal
$0.22▼−43.6% ▼−31.3%
0.42
0.62
0.66
0.12
0.33
0.39
0.24
0.13
0.32
0.22
Margins
Gross marginReversal
19.6 %▲+1.6 pp ▲+2.8 pp
17.95
19.84
16.26
16.31
17.24
17.99
20.12
21.08
16.83
19.59
Operating marginReversal
2.6 %▼−3.2 pp ▲+1.2 pp
6.29
10.79
6.16
2.06
4.10
5.78
5.66
4.20
1.41
2.56
Net marginReversal
2.8 %▼−2.1 pp ▼−1.1 pp
5.80
8.61
9.01
2.12
5.21
4.89
3.37
2.13
3.95
2.81
| Metric | Q3 2025Same quarter, prior year | Q2 2026Previous quarter | Q3 2026Latest quarter | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue | $28.09B | $28.24B | $28.05B | −0.2% | −0.7% |
| Cost of revenue | $23.04B | $23.48B | $22.55B | −2.1% | −4.0% |
| Gross profit | $5.05B | $4.75B | $5.49B | +8.7% | +15.6% |
| Operating expenses | $3.43B | $4.35B | $4.78B | +39.2% | +9.7% |
| Operating income | $1.62B | $398.00M | $718.00M | −55.8% | +80.4% |
| Net income | $1.37B | $1.11B | $787.00M | −42.7% | −29.4% |
| Diluted | $0.39 | $0.32 | $0.22 | −43.6% | −31.3% |
| Operating cash flow | $10.93B | $8.63B | $14.90B | +36.2% | +72.5% |
| $6.13B | $8.28B | $13.01B | +112% | +57.1% | |
| Free cash flow | $4.80B | $352.00M | $1.88B | −60.8% | +435% |
| Gross margin | 18.0 % | 16.8 % | 19.6 % | +1.6 pp | +2.8 pp |
| Operating margin | 5.8 % | 1.4 % | 2.6 % | −3.2 pp | +1.2 pp |
| Net margin | 4.9 % | 3.9 % | 2.8 % | −2.1 pp | −1.1 pp |