Tesla, Inc. (TSLA) closed fiscal year 2025 with a gross margin of 18.0 % and a net margin of 4.0 %.
Tesla, Inc. (TSLA) closed fiscal year 2025 with a gross margin of 18.0 % and a net margin of 4.0 %. The same year shows an EBITDA margin of 9.9 % and an EBIT margin of 4.6 %. The free cash flow margin was 6.6 %. Against the previous year the gross margin moved +0.2 pp and the net margin −3.3 pp. Across the period the gross margin ranges between 7.3 % in 2012 and 30.2 % in 2011. The series covers 17 fiscal years, from 2009 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 8.52 % | 26.32 % | 30.16 % | 7.28 % | 22.66 % | 27.57 % | 22.82 % | 22.85 % | 18.90 % | 18.83 % | 16.56 % | 21.02 % | 25.28 % | 25.60 % | 18.25 % | 17.86 % | 18.03 % |
| EBITDA margin (%) | -40.20 % | -117.21 % | -115.98 % | -89.29 % | 1.12 % | -0.96 % | -10.82 % | -2.71 % | -7.34 % | 3.67 % | 5.47 % | 11.46 % | 15.76 % | 19.73 % | 12.63 % | 11.46 % | 9.90 % |
| EBIT margin (%) | -46.36 % | -125.78 % | -123.13 % | -95.41 % | -3.04 % | -5.84 % | -17.71 % | -9.53 % | -13.88 % | -1.81 % | -0.28 % | 6.32 % | 12.12 % | 16.76 % | 9.19 % | 7.24 % | 4.59 % |
| Net margin (%) | -49.79 % | -132.19 % | -124.56 % | -95.88 % | -3.68 % | -9.19 % | -21.96 % | -9.64 % | -16.69 % | -4.55 % | -3.51 % | 2.29 % | 10.25 % | 15.41 % | 15.50 % | 7.26 % | 4.00 % |
| FCF margin (%) | -82.82 % | -143.92 % | -152.89 % | -122.28 % | -0.31 % | -32.12 % | -53.37 % | -20.07 % | -29.56 % | -0.01 % | 4.39 % | 8.83 % | 9.32 % | 9.29 % | 4.50 % | 3.67 % | 6.56 % |
