From pre-tax result to the bottom line — tax and exceptional effects
TSLA
From pre-tax result to the bottom line — tax and exceptional effects
Financing & tax — from operating result to the bottom line
$bnFrom operating result to the bottom line — 2024 → 2025
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY24 7.09 → FY25 3.79, change -3.30.
- Operating (ΔEBIT) -2.72
- Non-operating -0.99
- Tax rate -0.35
- Tax on higher base 0.76
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate 20.6 % → 27.3 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
From operating result to the bottom line — 2023 → 2025
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY23 15.00 → FY25 3.79, change -11.20.
- Operating (ΔEBIT) -4.54
- Non-operating -0.24
- Tax rate -4.03
- Tax on higher base -2.39
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate -50.0 % → 27.3 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
From operating result to the bottom line — 2022 → 2025
What happens between EBIT and net income: non-operating result and tax. Tax is separated into two causes — a different rate and a larger base are two different things.
Shown: FY22 12.56 → FY25 3.79, change -8.76.
- Operating (ΔEBIT) -9.30
- Non-operating 0.83
- Tax rate -0.99
- Tax on higher base 0.70
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains. The value axis is broken near zero so the contributions stay visible next to the large opening and closing bars; bar lengths are therefore not proportional to absolute value.
Effective tax rate 8.3 % → 27.3 %. Rate effect = −EBT₁·Δr, higher-base effect = −ΔEBT·r₀; together they equal the tax change exactly. Effective rate = (EBT − net) / EBT. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Exceptionals — reported versus adjusted
$bnReported versus adjusted — 2025
What remains of operating profit once one-off items are taken out? Each bar is a special item being reversed.
Shown: EBIT 4.36 → adjusted 4.75, change 0.39.
- Restructuring 0.39
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains.
Expense items (restructuring, impairments, acquisition costs) are added back, gains (disposal gains) subtracted. Only items the firm actually tags for that year appear — the selection is not curated, it follows the filing. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Reported versus adjusted — 2025
What remains of operating profit once one-off items are taken out? Each bar is a special item being reversed.
Shown: EBIT 4.36 → adjusted 4.75, change 0.39.
- Restructuring 0.39
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains.
Expense items (restructuring, impairments, acquisition costs) are added back, gains (disposal gains) subtracted. Only items the firm actually tags for that year appear — the selection is not curated, it follows the filing. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Reported versus adjusted — 2025
What remains of operating profit once one-off items are taken out? Each bar is a special item being reversed.
Shown: EBIT 4.36 → adjusted 4.75, change 0.39.
- Restructuring 0.39
Left to right: the first bar is the opening value, the middle bars are changes (up = increasing, down = decreasing), the last is the closing value. The changes sum to the difference exactly — no unexplained residual remains.
Expense items (restructuring, impairments, acquisition costs) are added back, gains (disposal gains) subtracted. Only items the firm actually tags for that year appear — the selection is not curated, it follows the filing. Source: SEC EDGAR companyfacts (fully loaded); annual and quarterly durations identified by period length.
Report an error or missing source
Use the result — then reproduce it
The report is the distribution artifact. These four actions are part of its manifest, not a marketing block added afterwards.