Return on Invested Capital snapshot
Tesla, Inc.'s return on invested capital was 4.3% in FY2025, compared with 8.7% in FY2024. On a trailing-twelve-month basis it was 4.6% as of Q1 FY26. Return on invested capital (ROIC) is after-tax operating profit divided by invested capital (debt plus equity, less cash). It measures the return a company earns on the total capital put to work in the business.
Return on Invested Capital (latest FY)
4.3%
Return on Invested Capital (TTM)
4.6%
Return on equity (latest FY)
4.6%
Return on assets (latest FY)
2.8%
Tesla, Inc. Return on Invested Capital
After-tax operating profit ÷ invested capital
Return on Invested Capital vs. related metrics
Tesla, Inc. Return on Invested Capital — by fiscal year
| Fiscal year | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| FY2025 | 4.3% | 4.6% | 2.8% |
| FY2024 | 8.7% | 9.7% | 5.8% |
| FY2023 | 25.9% | 23.9% | 14.1% |
| FY2022 | 39.7% | 28.1% | 15.2% |
| FY2021 | 29.8% | 18.3% | 8.9% |
| FY2020 | 10.3% | 3.2% | 1.4% |
| FY2019 | -0.6% | -13.0% | -2.5% |
| FY2018 | -3.1% | -19.8% | -3.3% |
| FY2017 | -14.8% | -46.3% | -6.8% |
| FY2016 | -8.3% | -14.2% | -3.0% |
| FY2015 | -37.8% | -82.0% | -11.0% |
| FY2014 | -23.1% | -32.3% | -5.0% |
| FY2013 | 40.1% | -11.1% | -3.1% |
| FY2012 | -101.3% | -317.7% | -35.6% |
| FY2011 | -101.2% | -113.6% | -35.7% |
| FY2010 | -81.6% | -74.5% | -40.0% |
| FY2009 | — | 22.0% | — |
| FY2008 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| Q1 FY26 | 4.6% | 4.6% | 2.7% |
| Q4 FY25 | 4.3% | 4.6% | 2.8% |
| Q3 FY25 | 5.1% | 6.4% | 3.8% |
| Q2 FY25 | 6.5% | 7.6% | 4.6% |
| Q1 FY25 | 7.7% | 8.2% | 4.9% |
| Q4 FY24 | 8.7% | 9.7% | 5.8% |
| Q3 FY24 | 19.0% | 18.4% | 10.8% |
| Q2 FY24 | 17.7% | 18.9% | 11.1% |
| Q1 FY24 | 19.5% | 21.6% | 12.7% |
| Q4 FY23 | 25.9% | 23.9% | 14.1% |
| Q3 FY23 | 23.4% | 20.1% | 11.4% |
| Q2 FY23 | 30.3% | 23.9% | 13.5% |
Figures normalized from SEC filings. See the full Tesla, Inc. ratios & metrics.