Tesla's free cash flow went from -$1.09B to +$1.53B in one quarter. That's a $2.62B rebound, but the bridge matters more than the headline.
$1.19B came from changes in net operating assets and liabilities, $1.06B from lower capex, and $0.38B from net income plus noncash adjustments.
These are real cash-flow movements, not additional profit.
My test: can Tesla sustain positive cash generation after capex as working-capital contributions fluctuate?
That would strengthen its ability to fund expansion internally, without yet proving attractive returns on AI investments.
$1.19B came from changes in net operating assets and liabilities, $1.06B from lower capex, and $0.38B from net income plus noncash adjustments.
These are real cash-flow movements, not additional profit.
My test: can Tesla sustain positive cash generation after capex as working-capital contributions fluctuate?
That would strengthen its ability to fund expansion internally, without yet proving attractive returns on AI investments.