Tesla

Tesla designs, makes and sells electric vehicles, mainly the Model 3 and Model Y. It also sells the Cybertruck, the Tesla Semi and, since September 2026, the Cybercab, a car without a steering wheel for its Robotaxi service. It sells energy storage products such as Megapack and Powerwall, and solar products. It earns money from services such as FSD (Supervised) software, Supercharging, insurance and used cars.

It develops Optimus, a humanoid robot. In the first nine months of 2026, revenue was $78.7 billion: $57.3 billion from automotive, $8.4 billion from energy and $12.9 billion from services and other. Tesla delivered about 1.32 million vehicles in that period. Elon Musk is CEO of Tesla and also of SpaceX.

The market prices Tesla mostly for autonomy and robots, not for its car business. The car business now earns little. The operating margin was 2.6% in Q3 2026, against 5.8% a year earlier, and revenue did not grow. Regulatory credit revenue fell 73%, and energy revenue fell 16%.

Research and development grew 69% in Q3 2026, and Tesla expects capital spending above $20 billion in 2026 for AI computing, factories and its own fleet. So most of the value depends on Robotaxi, Cybercab, FSD and Optimus, which earn little revenue today. For the gap to close, three things must be true. Robotaxi must expand to many cities, with Cybercab in volume production in 2027.

FSD subscriptions and services revenue must grow into a large source of profit. The car and energy business must return to an operating margin above about 5% while capital spending rises. The Q4 2026 delivery report in early January 2027 and the Q4 2026 results, expected in late January 2027, are the next tests. The full evidence comes over several years, so the gap can close only slowly, if at all.

1. Jan 21, 2027 · est.Pending

   Q4 2026 results and 2027 plansAn operating margin back near 5% with a date for Cybercab volume production passes; a lower margin with higher capital spending and no volume date fails.
2. Jan 2027 · est.Pending

   Q4 2026 deliveriesQ4 2026 deliveries above those of Q4 2025 pass; another year-on-year decline fails.
3. 2027 · est.Pending

   Robotaxi and Cybercab scalePaid Robotaxi rides without safety drivers in many cities and rising Cybercab output pass; regulatory stops or slow output fail.

Every passed and failed checkpoint across all picks

• October 21, 2026Tesla reported Q3 2026 results. Revenue was $28.0 billion, flat from a year earlier. Operating income fell to $718 million from $1.62 billion, and net income fell to $787 million, or $0.22 per diluted share. Regulatory credit revenue fell to $113 million from $417 million, and energy revenue fell 16% to $2.9 billion. Services and other revenue grew 33% to $4.6 billion. Tesla said that it started the Cybercab and the Tesla Semi in the quarter, and that it expects capital spending above $20 billion in 2026.
• October 19, 2026Tesla filed its proxy for the 2026 annual meeting on December 3, 2026. Shareholders vote on three Class I directors, the 2025 executive pay and the auditor.
• October 2, 2026Tesla reported Q3 2026 production of 464,391 vehicles and deliveries of 486,532 vehicles. It deployed 13.7 GWh of energy storage.

Last earnings

October 21, 2026 (8-K on sec.gov)

Next earnings

Expected about January 21, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 22, 2026 · tsla-20260930
• 8-KEarnings releaseFiled October 21, 2026 · tsla-20261021
• 8-KEarnings releaseFiled October 2, 2026 · tsla-20261002
• 8-KNew material agreement and End of a material agreementFiled September 29, 2026 · tsla-20260929
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 23, 2026 · tsla-20260630
• 8-KEarnings releaseFiled July 22, 2026 · tsla-20260722
• 8-KEarnings releaseFiled July 2, 2026 · tsla-20260702
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 23, 2026 · tsla-20260331
• 10-KAnnual report for the period ended Dec 31, 2025Filed January 29, 2026 · tsla-20251231
• 8-KChange of directors or officers and Shareholder vote resultsFiled November 7, 2025 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1318605)

• Most of the value depends on Robotaxi, Cybercab, FSD and Optimus, which earn little revenue today. Regulators can slow the launch of driverless service, and a serious crash can stop it.
• The car business earns thin margins. The operating margin was 2.6% in Q3 2026. Competition in China and Europe, the end of U.S. tax credits for electric vehicles and lower regulatory credit revenue push prices and profit down.
• Capital spending above $20 billion in 2026 leaves little free cash flow: operating cash flow was $14.9 billion and capital spending was $13.0 billion in the first nine months. More spending can need the new $30 billion credit facilities.
• Elon Musk is also CEO of SpaceX. Tesla invested $2.0 billion in SpaceX shares in March 2026 and sold $626 million of Megapacks to SpaceX in the first nine months of 2026. His time and these deals can create conflicts.
• Tariffs on imported battery cells raise costs most for the energy business, whose revenue fell 16% in Q3 2026.

Tesla holds much more cash than debt. At September 30, 2026, cash, cash equivalents and short-term investments were $45.4 billion. Read more

Tesla does not pay a dividend.

Source: company filings and market data, read on November 9, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.