# Tesla, Inc. (TSLA)

> Source: Nexqual · https://nexqual.com/TSLA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Tesla, Inc. (TSLA), nexqual.com/TSLA" · informational, not investment advice.

**Price:** USD 374.58 (-3.08% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 386.47 · day 373.71–388.86 · 52w 297.38–498.83 · market cap $1.48T · NMS

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $104B, net income $3.22B (3.1% margin), free cash flow $3.30B (SEC filings).
- Valuation: P/E 459.7x (avg 225.0x at the last 3 fiscal year-ends), EV/EBITDA 158.0x, net cash $36.2B.
- 5 of 80 tracked superinvestors hold TSLA (13F, Q2 2026): 0 new, 1 added, 3 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $13.3M; 2 not under a Rule 10b5-1 plan ($2.0M); 0 by opportunistic insiders, 3 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.53 on a 1–5 scale) (43 analysts), mean target USD 408.36 (range 128.11–600).
- Total return with dividends: 1Y -16.6% vs S&P 500 +14.9%; 5Y +23.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 0.49, revenue estimate $29.3B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $53.8B | $81.5B | $96.8B | $97.7B | $94.8B | $104B |
| Gross profit | $13.6B | $20.9B | $17.7B | $17.4B | $17.1B | — |
| Operating income | $6.52B | $13.7B | $8.89B | $7.08B | $4.36B | $3.47B |
| Net income | $5.52B | $12.6B | $15.0B | $7.09B | $3.79B | $3.22B |
| EPS (diluted) | $1.63 | $3.62 | $4.30 | $2.04 | $1.08 | — |
| Free cash flow | $5.01B | $7.57B | $4.36B | $3.58B | $6.22B | $3.30B |
| Gross margin | 25.3% | 25.6% | 18.2% | 17.9% | 18.0% | — |
| Operating margin | 12.1% | 16.8% | 9.2% | 7.2% | 4.6% | 3.3% |
| Net margin | 10.3% | 15.4% | 15.5% | 7.3% | 4.0% | 3.1% |
| Revenue growth | +70.7% | +51.4% | +18.8% | +0.9% | -2.9% | — |
| Cash + short-term investments | $17.7B | $22.2B | $29.1B | $36.6B | $44.1B | — |
| Total debt | $5.34B | $2.04B | $4.66B | $7.88B | $8.15B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)
P/E 459.7x · P/S 14.3x · EV/EBITDA 158.0x · EV/Sales 13.9x · P/FCF 447.9x · P/B 16.6x · FCF yield 0.22% · Earnings yield 0.22% · Net cash $36.2B · EV $1.44T
P/E at fiscal year-ends: Dec 2025 418.2x, Dec 2024 199.2x, Dec 2023 57.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
5 of 80 tracked investors hold TSLA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Duan Yongping | H&H International Investment | 7.44% | $1.42B | Reduced -0.8% |
| Josh Tarasoff | Greenlea Lane Capital | 5.47% | $19.9M | Reduced -13.4% |
| Viking Global | Viking Global Investors | 0.66% | $230M | Reduced -78.0% |
| Torray Funds |  | 0.07% | $526K | Unchanged |
| Polen Capital | Polen Capital Management | 0.03% | $3.8M | Added +21.8% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Taneja Vaibhav | Chief Financial Officer | 2,606 | $938K | 1.9% | No | Routine (sold in Sep & Dec each year 2023–2025) |
| 2026-06-08 | Taneja Vaibhav | Chief Financial Officer | 2,606 | $1.0M | 1.9% | No | Routine (sold in Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-05-13 | Taneja Vaibhav | Chief Financial Officer | 3,000 | $1.4M | 2.3% | Yes (adopted November 17, 2025) | Routine (sold in Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-04-30 | Wilson-Thompson Kathleen | Director | 26,409 | $10.0M | 35.3% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.53 on a 1–5 scale), 43 analysts; mean target USD 408.36 (low 128.11, high 600).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | UBS | Target raised | Neutral | $391 → $425 |
| 2026-10-22 | CLSA | Upgrade | Underperform → Hold | $310 → $400 |
| 2026-10-22 | Canaccord Genuity | Target raised | Buy | $410 → $442 |
| 2026-10-22 | Morgan Stanley | Target raised | Equal-Weight | $400 → $410 |
| 2026-10-22 | BNP Paribas | Upgrade | Underperform → Neutral | $266 → $420 |
| 2026-10-22 | RBC Capital | Reiterated | Outperform | $480 |
| 2026-10-22 | JP Morgan | Target raised | Neutral | $415 → $430 |
| 2026-10-22 | TD Cowen | Reiterated | Buy | $460 |
| 2026-10-22 | Piper Sandler | Target raised | Overweight | $450 → $475 |
| 2026-10-22 | StoneX | Reiterated | Buy | $475 |
| 2026-10-22 | GLJ Research | Reiterated | Sell | $24.86 |
| 2026-10-22 | Mizuho | Target raised | Outperform | $450 → $460 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -16.6% | +23.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -16.6% | +4.3% |
| Volatility (annualized) | 45.5% | 56.8% |
| Max drawdown | -39.1% (Dec 2025→Jul 2026) | -72.3% (Nov 2021→Jan 2023) |

## Peers (Auto Manufacturers)
TM (Toyota Motor Corporation) USD 198.22 +1.72% · RACE (Ferrari N.V.) USD 397.66 +0.11% · GM (General Motors Company) USD 77.21 +1.45% · F (Ford Motor Company) USD 11.94 +0.34% · HMC (Honda Motor Company, Ltd.) USD 34.58 +1.80% · RIVN (Rivian Automotive, Inc.) USD 12.06 -3.21%

## More
Full page: https://nexqual.com/TSLA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TSLA's own 10-K filed 2026-01-29 (https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Panasonic | "Currently, we rely on suppliers such as Panasonic and Contemporary Amperex Technology Co. Limited (CATL) for these cells." |
| Supplier | CATL | "Currently, we rely on suppliers such as Panasonic and Contemporary Amperex Technology Co. Limited (CATL) for these cells." |
| Partner | Samsung Electronics | "In 2025, we further expanded Cortex, our training cluster at Gigafactory Texas, and announced a new collaboration with Samsung to manufacture advanced semiconductors for AI inference and training in the U.S. We are curre…" |
| Related party | xAI | "For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X.AI Holdings Corp. ("xAI"), Neuralink Corp. and The Boring Company, and is involved in other ventures." |
| Related party | SpaceX | "For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X.AI Holdings Corp. ("xAI"), Neuralink Corp. and The Boring Company, and is involved in other ventures." |
| Related party | Neuralink | "For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X.AI Holdings Corp. ("xAI"), Neuralink Corp. and The Boring Company, and is involved in other ventures." |
| Related party | The Boring Company | "For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X.AI Holdings Corp. ("xAI"), Neuralink Corp. and The Boring Company, and is involved in other ventures." |

Other companies that name TSLA in their own reports (relationship from TSLA's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | LiveOne, Inc. (LVO) | 10-K 2026-06-29 | "Our music streaming customers include individual users and OEMs such as Tesla, Verizon, T-Mobile, and, to a lesser extent, advertisers and third-party licensees." |
| partner | SunCar Technology Group Inc. (SDA) | 20-F 2026-04-28 | "our collaboration with Tesla, adding a driver benefits package available for purchase on Tesla's official app and commencing a partnership" |
| competitor | Polestar Automotive Holding UK PLC (PSNY) | 20-F 2026-04-17 | "Many of Polestar's competitors, including Tesla, established automakers such as Mercedes-Benz, Audi and General Motors (including via its investments in Cruise Automation), and technology companies in…" |
| partner | XPENG INC. (XPEV) | 20-F 2026-04-16 | "For example, Tesla has constructed the Tesla Giga Shanghai factory in Shanghai without a joint venture partner." |
| partner | Li Auto Inc. (LI) | 20-F 2026-04-10 | "For example, Tesla has built a factory to manufacture electronic vehicles in Shanghai without a joint venture partner." |
| competitor | Canadian Solar Inc. (CSIQ) | 20-F 2026-04-10 | "We face intense competition from a large number of module competitors, such as First Solar, Inc., LONGi Green Energy Technology Co. Ltd., Trina Solar Limited, JinkoSolar Holding Co., Limited, JA Solar…" |
| partner | Beam Global (BEEM) | 10-K 2026-04-09 | "In order to facilitate this sponsored "Driving on Sunshine" initiative, Beam Global previously secured an agreement with Belgrade Airport, part of VINCI Airports, an operator of over 70 airports in 14…" |
| customer | SolarMax Technology, Inc. (SMXT) | 10-K 2026-04-06 | "Battery systems are available from a number of suppliers, including Tesla, Enphase and LG." |
| competitor | ChargePoint Holdings, Inc. (CHPT) | 10-K 2026-04-02 | "While ChargePoint believes that its business model and comprehensive offering of hardware and software solutions provides a distinct competitive advantage, ChargePoint has competitors in different sec…" |
| competitor | TIGO ENERGY, INC. (TYGO) | 10-K 2026-03-19 | "The markets for our GO ESS product line and EI Platform are also competitive, and we compete primarily with SolarEdge, Enphase, and Tesla, as well as a number of other companies." |
| competitor | Energy Vault Holdings, Inc. (NRGV) | 10-K 2026-03-18 | "For our third-party energy storage delivery business, our key competitors within the shorter duration BESS market include Tesla, Inc., Fluence Energy, Inc., FlexGen Power Systems, Inc., Sungrow Power …" |
| competitor | Microvast Holdings, Inc. (MVST) | 10-K 2026-03-16 | "In addition, vehicle manufacturers, such as GM, Ford, Rivian, and Tesla have entered the markets for our products and may become our competitors, either directly or through joint venture arrangements …" |
| competitor | EVgo Inc. (EVGO) | 10-K 2026-03-09 | "As a leading builder, owner and operator of a public fast charging network, some our competitors include Tesla, Electrify America, ChargePoint, Ionna, and Blink." |
| competitor | BIOLARGO, INC. (BLGO) | 10-K 2026-03-04 | "Our Cellinity battery energy storage systems will compete against lithium-ion batteries made by Tesla, Chinese companies CATL (Contemporary Amperex Technology Co.), BYD (Build Your Dreams) and MANLY, …" |
| partner | Medalist Diversified, Inc. (MDRR) | 10-K 2026-03-02 | "On July 18, 2025, in connection with the completion of the acquisition of the Tesla Pensacola Property discussed above, we, , through our wholly-owned subsidiaries, entered into a loan agreement with …" |

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Automotive | $25.16B | 89.7% | +2.0% |
| Energy generation and storage | $2.88B | 10.3% | -15.6% |
| Total revenue | $28.05B | 100% | — |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Total revenues from sales and services | $27.56B | 98.3% | +0.1% |
| Automotive Revenues | $20.56B | 73.3% | -3.0% |
| Automotive sales | $20.09B | 71.6% | -1.3% |
| Services and other | $4.61B | 16.4% | +32.5% |
| Energy generation and storage | $2.88B | 10.3% | -15.6% |
| Energy generation and storage sales | $2.75B | 9.8% | -16.3% |
| Automotive leasing | $353.0M | 1.3% | -17.7% |
| Energy generation and storage leasing | $136.0M | 0.5% | +1.5% |
| Automotive regulatory credits | $113.0M | 0.4% | -72.9% |
| Total revenue | $28.05B | 100% | — |
The lines above cover 281.8% of total revenue.

## Revenue by region (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $12.49B | 44.6% | -14.4% |
| Other international | $10.34B | 36.9% | +31.8% |
| CHINA | $5.21B | 18.6% | -7.9% |
| Total revenue | $28.05B | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "Outlook 09 Photos & Charts 10 Key Metrics 23 Financial Statements 26 Additional Information 32 2 S U M M A R YH I G H L I G H T S (1) Refer to the Reconciliation of GAAP to Non–GAAP Financial Information slide (2) Free cash flow = operating cash flow less capex;"
- "Profitability $0.7B GAAP operating income $0.8B GAAP net income $1.7B non-GAAP net income1 In Q3, we maintained strong momentum on many projects spanning Super Intelligence (SI), robotics and renewable energy that will be critical to building a future of Amazing Abundance."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.49 | $0.50 | -2.3% | $29.30B | 26 |
| Next quarter (ends 2027-03-31) | $0.46 | $0.46 | -0.9% | $26.44B | 13 |
| Current fiscal year (ends 2026-12-31) | $1.77 | $1.82 | -2.6% | $107.85B | 31 |
| Next fiscal year (ends 2027-12-31) | $2.19 | $2.23 | -1.9% | $122.17B | 33 |