Return on Capital Employed snapshot
Tesla, Inc.'s return on capital employed was 4.1% in FY2025, compared with 7.6% in FY2024. On a trailing-twelve-month basis it was 4.5% as of Q1 FY26. Return on capital employed (ROCE) is operating income divided by capital employed (total assets less current liabilities). It measures operating return relative to long-term capital.
Return on Capital Employed (latest FY)
4.1%
Return on Capital Employed (TTM)
4.5%
Return on equity (latest FY)
4.6%
Return on invested capital (latest FY)
4.3%
Tesla, Inc. Return on Capital Employed
Operating income ÷ (total assets − current liabilities)
Return on Capital Employed vs. related metrics
Tesla, Inc. Return on Capital Employed — by fiscal year
| Fiscal year | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| FY2025 | 4.1% | 4.6% | 4.3% |
| FY2024 | 7.6% | 9.7% | 8.7% |
| FY2023 | 11.4% | 23.9% | 25.9% |
| FY2022 | 24.5% | 28.1% | 39.7% |
| FY2021 | 15.4% | 18.3% | 29.8% |
| FY2020 | 5.3% | 3.2% | 10.3% |
| FY2019 | -0.3% | -13.0% | -0.6% |
| FY2018 | -2.0% | -19.8% | -3.1% |
| FY2017 | -7.8% | -46.3% | -14.8% |
| FY2016 | -4.0% | -14.2% | -8.3% |
| FY2015 | -13.6% | -82.0% | -37.8% |
| FY2014 | -5.0% | -32.3% | -23.1% |
| FY2013 | -3.5% | -11.1% | 40.1% |
| FY2012 | -68.6% | -317.7% | -101.3% |
| FY2011 | -48.2% | -113.6% | -101.2% |
| FY2010 | -48.9% | -74.5% | -81.6% |
| FY2009 | — | 22.0% | — |
| FY2008 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| Q1 FY26 | 4.5% | 4.6% | 4.6% |
| Q4 FY25 | 4.1% | 4.6% | 4.3% |
| Q3 FY25 | 4.4% | 6.4% | 5.1% |
| Q2 FY25 | 5.7% | 7.6% | 6.5% |
| Q1 FY25 | 6.6% | 8.2% | 7.7% |
| Q4 FY24 | 7.6% | 9.7% | 8.7% |
| Q3 FY24 | 8.5% | 18.4% | 19.0% |
| Q2 FY24 | 7.8% | 18.9% | 17.7% |
| Q1 FY24 | 9.3% | 21.6% | 19.5% |
| Q4 FY23 | 11.4% | 23.9% | 25.9% |
| Q3 FY23 | 15.9% | 20.1% | 23.4% |
| Q2 FY23 | 20.1% | 23.9% | 30.3% |
Figures normalized from SEC filings. See the full Tesla, Inc. ratios & metrics.