TSLA · Tesla, Inc.
10-Q filed 2026-04-23 period 2026-03-31
82 Strong
confidence high · source filing on SEC.gov ↗
- Reinstatement of the 2018 CEO Performance Award by the Delaware Supreme Court led to the forfeiture of the 2025 CEO Interim Award and the execution of an Implementation Agreement to manage share sales.
- Total gross margin expanded significantly to 21.1% from 16.3% in the prior year, driven by automotive sales mix and lower material costs in the energy segment.
- Capital expenditures are projected to exceed $25 billion in 2026, reflecting massive investments in AI compute infrastructure, data centers, and Optimus humanoid robot production.
Filing Health Score pillars
Profitability 25%
85
Total revenues grew 16% year-over-year to $22.39 billion, and total gross margin expanded significantly from 16.3% to 21.1%, driving a 136% increase in operating income to $941 million (MD&A - Results of Operations).
Balance sheet 20%
90
The balance sheet remains highly liquid with $44.74 billion in cash and short-term investments against $9.23 billion in total debt, a current ratio of 2.04, and solid interest coverage of 10.2x (Consolidated Balance Sheets).
Cash generation 20%
75
Operating cash flow of $3.94 billion easily exceeded net income, but high capex intensity of $2.49 billion (11.1% of revenue) to fund AI and manufacturing expansions limited free cash flow to $1.44 billion (Consolidated Statements of Cash Flows).
Risk flags 20%
80
No going-concern or control weaknesses are reported, but risks include the removal of EV tax credits under the OBBBA and complex implementation agreements surrounding the reinstatement of the 2018 CEO Performance Award (Item 1A and Item 5).
Mgmt signal 15%
78
Management is heavily pivoting toward real-world AI, Robotaxi, and Optimus, while signaling aggressive capital spending with 2026 capex expected to exceed $25 billion (MD&A - Overview and Outlook).
Key metrics (Three Months Ended March 31, 2026)
revenue: $22,387 million
cash and equivalents: $16,603 million
total debt: $9,229 million
shares outstanding: 3,755 million
net income: $477 million
period: Three Months Ended March 31, 2026
operating cash flow: $3,937 million
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.