Tesla, Inc.TSLA

Tesla, Inc. Segments Disclosure

10-KFiled Jan 29, 20262 min read
Segment Reporting and Information about Geographic Areas
Our Chief Executive Officer, as the CODM, organizes our company, manages resource allocations and measures performance among two operating and reportable segments: (i) automotive and (ii) energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of electric vehicles as well as sales of automotive regulatory credits. Additionally, the automotive segment also includes services and other, which includes sales of used vehicles, non-warranty maintenance services and collision, paid Supercharging sessions, automotive insurance business revenue, part sales and retail merchandise sales. The energy generation and storage segment includes the design, manufacture, installation, sales and leasing of energy generation and storage products and related services and sales of energy generation incentives.
Our CODM does not evaluate operating segments using asset or liability information. The CODM uses gross profit to allocate operating and capital resources and assesses performance of each segment by comparing actual gross profit results to historical results and previously forecasted financial information. The following table presents revenues, cost of revenues and gross profit by reportable segment (in millions):
Year Ended December 31,
202520242023
Automotive segment  
Revenues$82,056 $87,604 $90,738 
Cost of revenues (1)$68,764 $72,794 $74,219 
Gross profit$13,292 $14,810 $16,519 
Energy generation and storage segment  
Revenues$12,771 $10,086 $6,035 
Cost of revenues (2)$8,969 $7,446 $4,894 
Gross profit$3,802 $2,640 $1,141 
(1)Depreciation and amortization included in Cost of revenues for the automotive segment for the years ended December 31, 2025, 2024 and 2023 was $3.78 billion, $3.68 billion and $3.45 billion, respectively.
(2)Depreciation and amortization included in Cost of revenues for the energy generation and storage segment for the years ended December 31, 2025, 2024 and 2023 was $355 million, $377 million and $343 million, respectively.
The following table presents revenues by geographic area based on the sales location of our products (in millions):
Year Ended December 31,
202520242023
United States$47,627 $47,725 $45,235 
China20,962 20,944 21,745 
Other international26,238 29,021 29,793 
Total$94,827 $97,690 $96,773 
The following table presents long-lived assets by geographic area (in millions):
December 31,
2025		December 31,
2024
United States$35,847 $32,461 
Germany4,775 4,175 
Other international4,625 4,124 
Total$45,247 $40,760 
The following table presents inventory by reportable segment (in millions):
December 31,
2025		December 31,
2024
Automotive$9,678 $9,988 
Energy generation and storage2,714 2,029 
Total$12,392 $12,017 

Historical Timeline

Fiscal YearFiled
2025Jan 29, 2026Showing above
2024Jan 30, 2025
2023Jan 29, 2024
2022Jan 31, 2023
2021Feb 7, 2022
2020Feb 8, 2021
2019Feb 13, 2020
2018Feb 19, 2019
2017Feb 23, 2018
2016Mar 1, 2017
2015Feb 24, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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