| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 6 | 409.0x | 17.3x | Bottom tier | |
Growth | 25 | 8.3% | 7.1% | Bottom tier | |
Quality | 30 | 2.5% | 4.5% | Bottom tier | |
Safety | 83 | — | 2.6x | Top tier | |
Capital Return | 33 | 0.00% | 0.06% | Bottom tier | |
Momentum | 50 | -13.9% | -1.5% | Around median | |
Sentiment | 75 | 25 | 3 | Top tier |
10-year US Treasury yield 5.13% as of 2026-10-21. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Tesla operates through an interconnected ecosystem that includes electric vehicle manufacturing and sales, FSD autonomous driving software, energy storage, after-sales services, charging, and insurance, alongside its investments in Robotaxi, Cybercab, Optimus, and artificial intelligence infrastructure. The core business relies on vehicles such as Model Y, while FSD adds software revenue from upfront purchases and subscriptions; the number of paying customers reached approximately 1.5 million in Q2 FY 2026 (ended 2026-06-30), with 55% through upfront purchases and 45% through subscriptions. The energy business also deployed 13.5 gigawatt-hours of storage capacity during the quarter, while Megapack products target the needs of power grids and artificial intelligence data centers.
Tesla recorded revenue of $28.2 billion in Q2 FY 2026, up 25.5% year over year from $22.5 billion in Q2 FY 2025. Net income was $1.1 billion and diluted earnings per share were $0.32, while operating cash flow reached $4.7 billion. However, gross margin declined to 16.8% from 17.2%, and operating margin fell to 1.4% from 4.1%, showing that revenue growth did not translate into comparable profitability expansion.
The business mix reveals a clear divergence among units: automotive margin excluding regulatory credits fell to 16.3%, and energy margin declined to 20.4% after deploying 13.5 gigawatt-hours, while services and other activities margin improved to a record 14.1%. Sources of improvement in services included used vehicles, charging, service centers, and insurance, while operating expenses absorbed research and development costs and preparations for the production of Semi, Optimus, Cybercab, and artificial intelligence initiatives. In the last 12 months through 2026-06-30, the company generated revenue of $103.6 billion, net income of $3.8 billion, and free cash flow of $5.8 billion.
Q2 FY2026
Last 12 months to 2026-06-30
When: 2026-10-28
Reported revenue compared with the $28.2 billion threshold
Reported operating margin compared with the 1.4% threshold
Reported gross margin compared with the 16.8% threshold
The analyst-target method places the median value at $450, within a wide range of $360 to $840 based on 16 analysts, a method that prices expected growth and is inherently inclined toward optimism. The average consensus target is $462.77 with an overall Neutral recommendation, which is close to the median but does not eliminate the significant dispersion between the low and high ends. The calculated values do not include a second numerical method that would allow agreement among different approaches to be measured or differences among them to be explained based on cash flows, the industry multiple, or no growth. During the 90 days through 2026-09-27, there were four target reductions versus three increases, adding a degree of caution to the rise in the average consensus from $436.08 on 2026-08-26 to $462.77.
Figures in the text are as of 2026-09-27; the live price is shown at the top of the page.
Revenue reached $28.2 billion in Q2 FY 2026 (ended 2026-06-30), representing year-over-year growth of 25.5%, supported by record second-quarter deliveries. By contrast, gross margin declined to 16.8% from 17.2%, and operating margin fell to 1.4% from 4.1% year over year. Pressures included higher commodity costs and interest-rate subsidies, increased research and development, and preparation costs for Semi, Optimus, Cybercab, and artificial intelligence initiatives.
The number of paying FSD customers reached approximately 1.5 million in Q2 FY 2026 (ended 2026-06-30), with 55% through upfront purchases and 45% through subscriptions. FSD was enabled at delivery on approximately 55% of North American deliveries, directly linking the service to customer acquisition and recurring software revenue. Robotaxi exceeded 380,000 unsupervised miles without notable incidents, according to data from the call, but the NHTSA review opened on 2026-09-04 places regulation and safety at the center of the expansion path.
Automated analysis for informational purposes only — not investment advice.
Cash and investments reached $43.5 billion in Q2 FY 2026 (ended 2026-06-30), compared with total debt of $7.7 billion. In the last 12 months through 2026-06-30, the company generated operating cash flow of $18.7 billion and free cash flow of $5.8 billion. By contrast, Tesla expects capital expenditures to exceed $25 billion in FY 2026 and to continue rising over the following two or three years, making the pace of spending and conversion into free cash flow a key area to monitor.
The energy business deployed 13.5 gigawatt-hours in Q2 FY 2026 (ended 2026-06-30), up 53% sequentially, marking the business's second-largest quarterly result. Megapack targets grid balancing, renewable energy storage, and the mitigation of rapid fluctuations in artificial intelligence data center consumption. However, energy margin declined from 39.5% to 20.4% due to warranty costs related to supplier cells, the non-recurrence of prior benefits, and lower industrial storage prices amid competition.
During the 90 days through 2026-09-27, one sale by one insider valued at $938419 was recorded, and no purchases were recorded. Sales executed under 10b5-1 plans totaled zero, while sales outside these plans totaled $938419. The largest seller was an executive officer for the same amount, and these figures describe the recorded transactions without assigning an investment judgment to them.