| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 6 | 327.9x | 18.2x | Bottom tier | |
Growth | 27 | 11.8% | 7.1% | Bottom tier | |
Quality | 43 | 3.2% | 4.5% | Around median | |
Safety | 85 | — | 2.6x | Top tier | |
Capital Return | 43 | — | 2.10% | Around median | |
Momentum | 33 | -5.6% | 2.9% | Bottom tier | |
Sentiment | 81 | 25 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, 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 ecosystem that combines electric vehicle manufacturing and sales, FSD autonomous driving software, energy storage, and vehicle, charging, and insurance services. In fiscal Q2 2026, the company said Model Y achieved record levels in markets including the Netherlands, Australia, and New Zealand, while the number of paid FSD customers reached approximately 1.5 million globally; 55% paid upfront and 45% used subscriptions. New business drivers also include Robotaxi, Cybercab, Semi, and Optimus, alongside Megapack and computing, chip, and solar infrastructure.
Tesla recorded fiscal Q2 2026 revenue of $28.2 billion, gross profit of $4.8 billion, net income of $1.1 billion, and earnings per share of $0.32. These figures represent a gross margin of approximately 17.0% and a net margin of approximately 3.9%, compared with revenue of $22.4 billion, gross profit of $4.7 billion, and net income of $477 million in fiscal Q1 2026. On a trailing twelve-month basis, revenue reached $103.6 billion, gross profit $19.5 billion, and net income $3.8 billion.
The business mix reveals a clear divergence in margins during fiscal Q2 2026. Automotive gross margin excluding regulatory credits declined from 19.2% to 16.3%, and energy margin fell from 39.5% to 20.4% despite a 53% quarter-over-quarter increase in storage deployments to 13.5 gigawatt-hours, while services and other activities margin improved from 9.2% to a record 14.1%. Net income also benefited from a $1 billion revaluation gain on the SpaceX holding, offset by a negative impact of approximately $300 million from currencies and $100 million from Bitcoin, meaning reported profit does not reflect operating performance alone.
The average analyst price target is $436.08, within a wide range of $370 to $491, while the highest target is below the 52-week range peak of $498.83, and the consensus remains neutral. The dispersion in targets reflects uncertainty between the opportunities in FSD, Robotaxi, and energy on one hand, and margin pressure, capital expenditures, and regulatory risks on the other; the valuation multiples cited in the July 31, 2026, report, including a price-to-earnings ratio of 286 times, also assume strong execution of the new growth projects.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue reached $28.2 billion, gross profit $4.8 billion, and net income $1.1 billion in fiscal Q2 2026. Earnings per share were $0.32, with a calculated gross margin of approximately 17.0% and a net margin of approximately 3.9%. By comparison, fiscal Q1 2026 recorded revenue of $22.4 billion and net income of $477 million. Fiscal Q2 2026 net income also included a $1 billion revaluation gain on the SpaceX holding, offset by a combined negative impact of approximately $400 million from currencies and Bitcoin.
The number of paid FSD customers reached approximately 1.5 million globally in fiscal Q2 2026. Upfront purchases accounted for 55% of those customers, while subscriptions represented 45%. In North America, FSD subscriptions were activated at delivery in approximately 55% of vehicles during the same quarter. Tesla expects most growth in FSD monetization to come through subscriptions after removing the purchase option from most markets.
Tesla said on its July 22, 2026, call that the Robotaxi fleet had expanded to seven U.S. markets and that the program had completed more than 380,000 miles of unsupervised driving across six cities and two states without notable incidents, according to management's description. On August 24, 2026, the company received approval to deploy up to 5,000 Robotaxi vehicles in Nevada. Management explained that expansion is constrained by the need to improve reliability and meet differing regulatory requirements across cities and states. Cybercab also needs to collect driving data specific to its new platform before the number of vehicles can be increased significantly.
Automated analysis for informational purposes only — not investment advice.
Automotive gross margin excluding regulatory credits declined from 19.2% to 16.3%, but management said the comparison was affected by approximately $230 million in warranty and tariff benefits recognized in the previous quarter that did not recur. Commodity prices and interest-rate subsidy costs also increased the cost of the automotive business. In energy, margin fell from 39.5% to 20.4% due to a warranty settlement of approximately $240 million related to supplier cells and the non-recurrence of tariff benefits exceeding $200 million. Management expects the long-term energy margin to stabilize in the low-to-mid-twenties range as industrial storage prices decline amid competition.
Tesla expects its capital expenditures to exceed $25 billion in fiscal 2026, after more than doubling quarter over quarter in fiscal Q2 2026. This resulted in negative free cash flow during the quarter, and management expects spending to continue growing for two to three years. Investments include Robotaxi, Optimus, the semiconductor factory, solar energy, artificial intelligence computing, and expansions in vehicle manufacturing. The company is also working to secure debt facilities that would provide borrowing capacity of up to $30 billion to accelerate these projects.
A July 31, 2026, news report stated that China accounts for approximately 22% of Tesla's revenue and that the company was considering selling, spinning off, or shutting down its operations there, without announcing a final transaction. On August 21, 2026, Chinese regulators ordered the recall of approximately 3 million vehicles for software updates, the company's largest recall in the Chinese market. An over-the-air remedy may reduce the direct cost, but regulatory and reputational risks remain. The amount of revenue linked to China increases the significance of any decision affecting sales, manufacturing, or the supply chain in that market.
