Q4 2025 Update (shareholder deck)
A document from Tesla on 6ix · Presentation · Jan 28, 2026 · 35 pages
TESLA
Highlights Financial Summary Operational Summary Manufacturing & Hardware Supporting Infrastructure AI & Software Services Other Updates Outlook Photos & Charts Key Metrics Financial Statements Additional Information
H I G H L I G H T S
S U M M A R Y
Profitability $4.4B GAAP operating income in 2025; $1.4B in Q4
$3.8B GAAP net income in 2025; $0.8B in Q4
$5.9B non-GAAP net income1 in 2025; $1.8B in Q4
2025 marked a critical year for Tesla as we further expanded our mission and continued our transition from a hardware-centric business to a physical AI company. We laid the foundation for the future of Tesla as we further advanced FSD (Supervised) , launched our Robotaxi service,4 began installing production lines for Cybercab and fine-tuned our production-primed Optimus design while expanding our AI training infrastructure.
Cash Operating cash flow of $14.7B in 2025; $3.8B in Q4
Free cash flow2 of $6.2B in 2025; $1.4B in Q4
$7.5B increase in our cash and investments3 in 2025 to $44.1B
Our approach to autonomous vehicles and humanoid robots mirrors the way we approached electric vehicles and energy storage – at the system level where we identify the limiting factor and develop b
Contents
- Q4 and FY 2025 Update
- Automotive
- Energy generation and storage
- Robotics
- AI Training Compute
- Battery
- Other Supporting Infrastructure
- AI Software
- AI Inference Compute
- Automotive and Other Software
- Targeting Step-Function Improvement for our Next-Generation Inference Chip, AI5
- Robotaxi
- FSD (Supervised)1
- Automotive Services
- Volume
- Cash
- Profit
- Product
- P H O T O S & C H A R T S
Q4 2025 Update (shareholder deck) on 6ix · Tesla, Inc. on 6ix