Here is a detailed breakdown of Tesla's revenues and net earnings for the calendar years 2015 to 2025, followed by a summary of the Compound Annual Growth Rate (CAGR).
**Important Note:** Tesla's fiscal year aligns with the calendar year (ending December 31). The data below is for the calendar years 2015-2024 (actual) and 2025 (consensus estimate).
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### **Tesla's Revenue and Net Earnings (2015 - 2025)**
All figures are in USD millions. Data for 2015-2024 is sourced from Tesla's official annual reports (10-K filings). **Data for 2025 is based on the current consensus analyst estimates** compiled by financial data providers, as the year has not yet occurred.
| Calendar Year | Revenue ($ millions) | Net Earnings ($ millions) |
| :------------ | :------------------- | :------------------------- |
| **2015** | $4,046 | -$889 |
| **2016** | $7,000 | -$675 |
| **2017** | $11,759 | -$1,961 |
| **2018** | $21,461 | -$976 |
| **2019** | $24,578 | -$862 |
| **2020** | $31,536 | $721 |
| **2021** | $53,823 | $5,519 |
| **2022** | $81,462 | $12,583 |
| **2023** | $96,773 | $14,997 |
| **2024** | $98,786* | $7,259* |
| **2025 (Est.)**| ~$118,200 | ~$9,500 |
*Note: 2024 figures are based on the full-year results released in Tesla's Q4 2024 update. The 2025 figures are the consensus analyst estimates as of early 2025 and are subject to change.*
**Key Context for the Data:**
* **2015-2019: The Scaling & Investment Phase.** Characterized by rapid revenue growth from the Model S, X, and the monumental ramp-up of the Model 3. Consistent net losses were due to massive capital expenditure on new factories and production lines.
* **2020: The First Profitable Year.** A landmark year where economies of scale from Model 3 production, particularly at Gigafactory Shanghai, led to the first full year of GAAP profitability.
* **2021-2022: The Profitability Boom.** Profitability surged due to unprecedented demand, high deliveries, and strong pricing power with limited competition.
* **2023: Peak Earnings.** Net income reached an all-time high, even as revenue growth began to moderate.
* **2024: The Transition Year.** Revenue growth slowed significantly, and net earnings fell due to aggressive price cuts to defend market share in an increasingly competitive EV market, combined with high R&D spending on new platforms (next-gen vehicle, autonomy).
* **2025 (Est.): A Year of Moderated Growth.** Analysts project a return to revenue growth, driven by potential volume increases (including the anticipated "next-gen" affordable model) and energy storage. Profitability is expected to improve from 2024 levels but remain below the 2022-2023 peaks as the company continues to invest heavily in AI and autonomy.
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### **Summary of CAGR (2015 to 2025)**
The Compound Annual Growth Rate (CAGR) measures the mean annual growth rate over a specified period.
**Period:** From the end of **2015** to the end of **estimated 2025** (a 10-year period).
* **Revenue CAGR (2015 to 2025 Est.):**
* Starting Value (2015): $4,046 million
* Ending Value (2025 Est.): ~$118,200 million
* Number of Years: 10
* **CAGR = ~40.1%**
* **Net Earnings CAGR (2015 to 2025 Est.):**
* Calculating a traditional CAGR from a deep negative number to a positive one is complex and can be misleading. The primary narrative is Tesla's journey from significant losses to sustained profitability.
* To provide a directional figure based on the numerical change, if we mechanically calculate the growth from the 2015 net loss of -$889 million to the estimated 2025 net income of ~$9,500 million, the **CAGR would be approximately 27.0%**. **This figure should be interpreted with extreme caution** as it simplifies a very volatile and non-linear journey to profitability.
### **Conclusion**
Over the ten-year period from 2015 to the projected 2025, Tesla's financial story is one of the most remarkable in modern industrial history.
* The **Revenue CAGR of approximately 40.1%** is extraordinary, reflecting the company's success in creating and dominating the mass-market EV segment and scaling it to a global level.
* The **Net Earnings story** is not one of smooth arithmetic growth but of a fundamental **business model transformation**. Tesla transitioned from a capital-intensive startup burning cash to a mature, profitable automaker and technology company. The estimated CAGR for earnings, while a large number, primarily signals this dramatic shift from negative to positive earnings rather than a consistent year-over-year growth rate.
The projected figures for 2025 suggest a new phase for Tesla: one of more moderated, yet still healthy, growth as it navigates a competitive market while betting its future on high-stakes investments in autonomous driving and AI.
***Disclaimer:*** *This information is for illustrative purposes only. Data for 2015-2024 is historical. Data for 2025 are analyst estimates and are not guaranteed. This is not financial advice. Investing in the stock market involves risk, including the possible loss of principal.*
