Data updated
06
Investors
The numbers the market is watching.
Q3 deliveries vs consensus, the last six quarters, deliveries and the share price. US$ unless stated (Nasdaq: TSLA).
Investors
TSLA share priceUS$362.44Close 15 Oct 2026 · ▼ 19% YTD
Market capUS$1.43tn3.95bn shares
Analyst ratings19 Buy20 Hold · 4 Sell
Average price targetUS$397.83▲ 10% implied · range $125–$600
| Buy | Hold | Sell | Average price target | Low | High |
|---|---|---|---|---|---|
| 19 | 20 | 4 | US$397.83 | 125 | 600 |
Q3 2026: deliveries in, results 21 Oct
Deliveries
486,532 ▼ 2.1%
Revenue
$27.73bn ▼ 1.3%
EPS (non-GAAP)
$0.45 ▼ 10.0%
Deliveries: actual 486,532 (Tesla IR, 2 Oct 2026) vs 461,974 Tesla-compiled consensus (range 421,758 (Cantor) to 482,000 (JPMorgan)); storage 13.7 GWh vs 15.9 GWh expected and 12.5 GWh in Q3 25. Revenue/EPS: S&P Global via Plus500 consensus (EPS range $0.37–0.47); results 21 Oct.
Results explorer
Revenue$28.24bn+26% YoY
Automotive$20.52bnincl. $146m reg. credits
Energy$3.14bn13.5 GWh deployed
Services & other$4.58bn+50% YoY
Gross margin16.8%auto ex-credits 16.3%
Operating income$398m1.4% margin
Net income (GAAP)$1,114m
EPS (non-GAAP)$0.33
Free cash flow$-1,092mcapex $5,789m
Cash & investments$43.5bn
Deliveries480,126+25% YoY
Production451,758
Q2 2026 highlights · reported 22 Jul 2026
- Record revenue $28.2bn (+26% YoY) beat (~$26bn), but EPS $0.33 missed (~$0.49–0.53); shares fell ~14% next day
- Operating margin 1.4%; regulatory credits -67% YoY; energy GM ~20% (from ~40% in Q1)
- Capex $5.8bn drove FCF to -$1.1bn. Net income lifted by the SpaceX stake fair value
- FSD active subscriptions ~1.48m; TTM revenue above $100bn for the first time
The trend
Revenue by segment
US$m · automotive, energy, services & other
| Quarter | Automotive | Energy | Services | Total revenue |
|---|---|---|---|---|
| Q1 2025 | 13967 | 2730 | 2638 | 19335 |
| Q2 2025 | 16661 | 2789 | 3046 | 22496 |
| Q3 2025 | 21205 | 3415 | 3475 | 28095 |
| Q4 2025 | 17693 | 3837 | 3371 | 24901 |
| Q1 2026 | 16234 | 2408 | 3745 | 22387 |
| Q2 2026 | 20516 | 3139 | 4581 | 28236 |
Margins
% · total gross margin vs auto GM ex-credits
| Quarter | Total gross margin | Auto gross margin ex-credits |
|---|---|---|
| Q1 2025 | 16.3% | 12.5% |
| Q2 2025 | 17.2% | 15.0% |
| Q3 2025 | 18.0% | 15.4% |
| Q4 2025 | 20.1% | 17.9% |
| Q1 2026 | 21.1% | 19.2% |
| Q2 2026 | 16.8% | 16.3% |
Deliveries vs production
vehicles · Q3 26 = actual (Tesla IR, 2 Oct)
| Quarter | Deliveries | Production |
|---|---|---|
| Q1 24 | 386810 | 433371 |
| Q2 24 | 443956 | 410831 |
| Q3 24 | 462890 | 469796 |
| Q4 24 | 495570 | 459445 |
| Q1 25 | 336681 | 362615 |
| Q2 25 | 384122 | 410244 |
| Q3 25 | 497099 | 447450 |
| Q4 25 | 418227 | 434358 |
| Q1 26 | 358023 | 408386 |
| Q2 26 | 480126 | 451758 |
| Q3 26 | 486532 | 464391 |
Free cash flow & capex
US$m
| Quarter | Free cash flow | Capex |
|---|---|---|
| Q1 2025 | 664 | 1492 |
| Q2 2025 | 146 | 2394 |
| Q3 2025 | 3990 | 2248 |
| Q4 2025 | 1420 | 2393 |
| Q1 2026 | 1444 | 2493 |
| Q2 2026 | -1092 | 5789 |
TSLA month-end close (US$)
Oct 2024 – Sep 2026 · hover for values
| Month | Close |
|---|---|
| 2024-10 | 249.85 |
| 2024-11 | 345.16 |
| 2024-12 | 403.84 |
| 2025-01 | 404.60 |
| 2025-02 | 292.98 |
| 2025-03 | 259.16 |
| 2025-04 | 282.16 |
| 2025-05 | 346.46 |
| 2025-06 | 317.66 |
| 2025-07 | 308.27 |
| 2025-08 | 333.87 |
| 2025-09 | 444.72 |
| 2025-10 | 456.56 |
| 2025-11 | 430.17 |
| 2025-12 | 449.72 |
| 2026-01 | 430.41 |
| 2026-02 | 402.51 |
| 2026-03 | 371.75 |
| 2026-04 | 381.63 |
| 2026-05 | 435.79 |
| 2026-06 | 420.60 |
| 2026-07 | 311.21 |
| 2026-08 | 367.95 |
| 2026-09 | 354.81 |
Annual revenue: actual & consensus
US$bn · EPS non-GAAP consensus above bars
| Period | Revenue US$bn | EPS non-GAAP consensus | Kind |
|---|---|---|---|
| FY25A | 94.8 | — | Actual |
| FY26E | 106.35 | 1.75 | Consensus |
| FY27E | 119.1 | 2.08 | Consensus |
Guidance & the pay award
VolumeNo numeric delivery guidance; 'maximum capacity utilisation', subject to demand and allocation to Tesla's own Robotaxi fleet.
Capex>$25bn in 2026 (raised from >$20bn in Jan); expected to keep rising for 2–3 years. Negative FCF for the rest of 2026.
Robotaxi~7 US metros; target unsupervised FSD in ~12 states by end-2026. Musk: Robotaxi revenue not material in 2026.
OptimusFirst-gen Fremont line in production from ~Aug 2026 with a slow ramp; Texas plant ~summer 2027.
Semi, Megapack 3Both in production in 2026. AI compute >115 MW, targeting ~400 MW by year-end.
The CEO award, in one line per milestone
2025 CEO Performance Award (approved 6 Nov 2025): 423.7m restricted shares in 12 tranches. Market-cap hurdles from $2.0tn to $8.5tn, each paired with an operating milestone: 20m cumulative vehicles, 10m FSD subscriptions, 1m Optimus bots, 1m Robotaxis in operation, and Adjusted EBITDA of $50bn–$400bn. No tranche earned as at Apr 2026.
| Quarter | Reported | Revenue | Automotive | Energy | Services | Gross margin | Auto GM ex-credits | Operating income | Net income | EPS non-GAAP | Free cash flow | Capex | Deliveries | Production | Storage GWh |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 2025 | 22 Apr 2025 | 19335 | 13967 | 2730 | 2638 | 16.3% | 12.5% | 399 | 409 | 0.27 | 664 | 1492 | 336681 | 362615 | 10.4 |
| Q2 2025 | 23 Jul 2025 | 22496 | 16661 | 2789 | 3046 | 17.2% | 15.0% | 923 | 1172 | 0.4 | 146 | 2394 | 384122 | 410244 | 9.6 |
| Q3 2025 | 22 Oct 2025 | 28095 | 21205 | 3415 | 3475 | 18.0% | 15.4% | 1624 | 1373 | 0.5 | 3990 | 2248 | 497099 | 447450 | 12.5 |
| Q4 2025 | 28 Jan 2026 | 24901 | 17693 | 3837 | 3371 | 20.1% | 17.9% | 1409 | 840 | 0.5 | 1420 | 2393 | 418227 | 434358 | 14.2 |
| Q1 2026 | 22 Apr 2026 | 22387 | 16234 | 2408 | 3745 | 21.1% | 19.2% | 941 | 477 | 0.41 | 1444 | 2493 | 358023 | 408386 | 8.8 |
| Q2 2026 | 22 Jul 2026 | 28236 | 20516 | 3139 | 4581 | 16.8% | 16.3% | 398 | 1114 | 0.33 | -1092 | 5789 | 480126 | 451758 | 13.5 |
Read before you quote
- Financials from Tesla 8-K exhibits (Q1 2026 and Q2 2026 decks). Automotive revenue here = total less energy and services.
- Consensus differs across aggregators and between GAAP and non-GAAP. Q3 revenue/EPS consensus is from 2 Aug and may have moved; FY27 is low confidence. Q3 actuals (Tesla IR, 2 Oct): 486,532 delivered vs the 29 Sep company-compiled consensus of 461,974 (+5.3%), 464,391 produced, 13.7 GWh storage vs 15.9 GWh expected. Model 3/Y 478,237 delivered, other models 8,295. Q3 revenue/EPS are still consensus until results on 21 Oct.
- 29 Sep 2026 8-K: $30bn of new senior unsecured facilities — Citi $20bn three-year delayed-draw, Wells Fargo $8bn five-year revolver and $2bn 364-day revolver — replacing an undrawn $5bn revolver. Tesla says it does not currently plan to draw in 2026.
- Q3 results: 21 Oct 2026 after the US close (confirmed in the 2 Oct deliveries release). Share data: Nasdaq TSLA via stockanalysis.com, Thu 15 Oct 2026 close ($362.44, -$4.72 / -1.29% from $367.16 on 14 Oct). Market cap about $1.43tn (that close times 3,949.5m shares, $1,431.5bn). Average price target on that page was $397.83. Not investment advice.