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Tesla, Inc. TSLA Automotive sales — Recovery of direct costs

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Other financials

Income statement

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Revenue$22.4B+15.8%
Gross profit$4.7B+49.7%
Operating income$941.0M+136%
Net income$477.0M+16.6%
EPS (diluted)$0.13+8.3%

Balance sheet

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Cash & equivalents$16.6B+1.5%
Total debt$1.2B-86.2%
Total equity$84.1B+12.7%
Total assets$143.72B+14.9%

Cash flow

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Operating cash flow$3.9B+82.6%
CapEx$2.5B+67.1%
Free cash flow$1.4B+117%

Valuation

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Market cap$1.53T+61.3%
Enterprise value$1.51T+60.9%
P/E395.4×+234×
P/S15.6×+5.4×

Profitability

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Gross margin19.1%+1.4pp
Operating margin5%-1.6pp
Net margin3.9%-2.4pp
FCF margin7.2%+0.1pp

Returns & leverage

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Return on equity4.9%-3.9pp
Debt / equity-0.1×
Current ratio0.0×

Where this comes from

Reported directly by Tesla, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RecoveryOfDirectCosts.

The official record: Tesla, Inc.’s 10-K, filed January 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tesla, Inc.'s automotive sales — recovery of direct costs?
Tesla, Inc. (TSLA) reported automotive sales — recovery of direct costs of $141.25M in Q4 2025.
How has Tesla, Inc.'s automotive sales — recovery of direct costs changed year-over-year?
Tesla, Inc.'s automotive sales — recovery of direct costs decreased by 9.6% year-over-year, from $156.25M to $141.25M.
What is the long-term trend for Tesla, Inc.'s automotive sales — recovery of direct costs?
Over 2 years (2023 to 2025), Tesla, Inc.'s automotive sales — recovery of direct costs has grown at a 25.5% compound annual growth rate (CAGR), from $359M to $565M.
What does automotive sales — recovery of direct costs mean?
Represents the reimbursement or recoupment of specific expenses directly associated with the production or delivery of vehicles that were previously recognized as costs. This often includes the realization of value from deferred costs or the settlement of specific performance obligations where costs are offset by subsequent revenue recognition. It reflects the efficiency of the company in reclaiming capital tied up in the direct manufacturing and fulfillment process.