TSLA

Tesla, Inc.
Country: USIndustry: Auto - Manufacturers
$398.05+$3.04 (0.77%)
MC: $1.32T

While Tesla is cash flow positive with substantial reserves ($44B) and no immediate need for capital raising, shareholders face significant dilution overhang from massive stock-based compensation plans, specifically the 2025 CEO Performance Award (~423.7M shares) and outstanding options (~344.1M shares).

Float & OS: 2.6B / 3.3BFloat = shares likely tradable now (actual OS minus insiders). OS = current total shares outstanding.
Est. Runway: >10 yearsCash flow positive As of 2025-12-31
Inst Own: 60.1%Institutional ownership from 13F-HR and 13F-HR/A filings sourced from SEC. % ownership based on outstanding shares. Data is split adjusted. Ownership data as of 2025/12/31.
Overall RiskCombined assessment of dilution risk based on offering ability, cash need, and float risk factors.
HIGH
Offering AbilityMeasures the company's capacity to issue new shares through shelf registrations, ATM programs, or other SEC filings that authorize future dilution.
LOW
Cash NeedIndicates urgency for capital based on cash runway. Shorter runways often lead to dilutive financing.
LOW
Float RiskAssesses vulnerability to price impact from dilution based on current float size and trading volume.
MEDIUM

Data last refreshed Mar 13, 2026

Historical O/S & Potential Dilution

Quarterly outstanding shares with fully diluted potential

Outstanding
Convertibles
Options

Cash Position

The company appears cash-flow positive with estimated current cash of $47084.5M.

Historical Cash
Estimated Burn Since Filing
Post-Filing Financing

Dilution Notes

Warrants

  • In 2024, warrants represented 8 million potentially dilutive shares for the purposes of calculating diluted EPS, down from 11 million in 2023.
  • During 2024, 1 million shares were issued related to the settlement of warrants.

Convertible Notes

  • In 2024, convertible senior notes accounted for 1 million potentially dilutive shares used in the diluted EPS calculation, a decrease from 2 million in 2023.

Convertible Preferred

  • The company is authorized to issue 100 shares of preferred stock, but no shares were issued and outstanding as of December 31, 2025.
  • An agreement to invest in another company's (xAI) Series E Preferred Stock is not a dilutive event for Tesla shareholders.

Additional Notes

  • Shares Outstanding: As of January 23, 2026, there were 3,752,431,984 shares of common stock outstanding.
  • 2025 CEO Performance Award: In September 2025, the CEO was granted a performance-based award of approximately 423.7 million shares. Vesting is contingent upon 12 tranches of market capitalization and operational milestones; as of Dec 31, 2025, only one milestone was considered probable.
  • 2025 CEO Interim Award: On August 3, 2025, the CEO was granted 96.0 million shares of restricted stock (vesting 2027), though vesting was not deemed probable as of year-end 2025.
  • Stock Options & RSUs: As of December 31, 2025, there were 344.1 million stock options and 17.0 million RSUs outstanding.
  • Dilutive EPS Impact: For calculating diluted EPS in 2025, stock-based awards represented 303 million potentially dilutive shares.
  • 2019 Equity Incentive Plan: Shareholders approved an amended plan in November 2025, creating a special reserve of ~208.0 million shares for the CEO and increasing general shares by 60.0 million.
  • ESPP: As of December 31, 2025, 93.6 million shares remained available for issuance under the Employee Stock Purchase Plan.