TSLA · 10-Q · 2026Q3 · Full report

Capital Expenditures and Cash Flow

Tesla, Inc. · 2026-10-22 · Importance 87 · Surprise 82

Capital expenditures increased $6.88 billion, or 112%, to $13.01 billion during the first nine months of 2026, primarily for SI infrastructure, factory expansion, machinery and equipment. Tesla expects 2026 capital expenditures to exceed $20 billion, driven by compute infrastructure and data centers, manufacturing and R&D facilities, SI-enabled assets and retail, service and charging expansion. Operating cash flow increased $3.96 billion to $14.90 billion, supported by $3.51 billion of favorable changes in operating assets and liabilities and $451 million of higher net income excluding non-cash items. Tesla also invested $2.00 billion in SpaceX common stock during the nine-month period, contributing to $14.93 billion of net investing cash outflows.

Key facts

• Capital expenditures amounted to $13.01 billion during the nine months ended September 30, 2026, compared to $6.13 billion during the nine months ended September 30, 2025, an increase of $6.88 billion. source
• Net cash provided by operating activities was $14.897 billion for the nine months ended September 30, 2026, compared to $10.934 billion for the same period in 2025, an increase of $3.96 billion. source
• Net cash used in investing activities was $(14,928) million for the nine months ended September 30, 2026. source
• Cash flows from operating activities increased primarily due to favorable changes in net operating assets and liabilities of $3.51 billion and an increase in net income excluding non-cash items of $451 million for the nine months ended September 30, 2026. source