Want to see TSLA full AI Analyst Report?
Gross Margin by Segment
Gross profit as a percentage of revenue for each segment, revealing underlying profitability and how product mix, pricing, and cost improvements translate into margins across the business.Auto margins have trended down from prior peaks and remain volatile, with the latest sequential drop driven by non‑repeat one‑offs and higher subvention costs — meaning automotive profitability will be lumpy despite record deliveries. Services & Other is the clearest margin upside, steadily improving to all‑time highs as FSD attach rates, used-car and insurance mix shift toward higher‑margin recurring revenue. Energy shows large swings: strong deployment growth but sharp margin hits from warranty true‑ups, lost tariff benefits and pricing pressure, creating near‑term earnings and cash‑flow volatility even as scale offers longer‑term upside.
Date | Auto | Services and Other | Energy and Storage |
|---|---|---|---|
Jun 30, 2026 | 16.88 | 14.15 | 20.39 |
Mar 31, 2026 | 21.10 | 9.24 | 39.53 |
Dec 31, 2025 | 20.40 | 8.84 | 28.62 |
Sep 30, 2025 | 17.00 | 10.53 | 31.42 |
Jun 30, 2025 | 17.20 | 5.45 | 30.33 |
Mar 31, 2025 | 16.20 | 3.80 | 28.80 |
Dec 31, 2024 | 16.61 | 4.18 | 25.22 |
Sep 30, 2024 | 20.11 | 8.80 | 30.50 |
Jun 30, 2024 | 18.50 | 6.40 | 24.60 |
Mar 31, 2024 | 18.40 | 3.50 | 24.60 |