Tesla, Inc. reported Operating or financial results
Tesla, Inc. filed an 8-K covering operating or financial results, supporting financial statements or exhibits.
Tesla, Inc.
NASDAQ · United States · USD
SEC EDGAR · Oct 22, 2026 12:41 AM UTC
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Tesla, Inc. filed an 8-K covering operating or financial results, supporting financial statements or exhibits.
GAAP facts filed with the SEC. Quarterly comparisons use the same quarter one year earlier.
In plain English: Revenue was $28.24B, up 25.5% year over year. Net income was $1.11B, down 4.9% year over year. Diluted EPS was $0.32 versus $0.33 a year earlier. Gross margin 16.8% and operating margin 1.4%.
The reported trend weakened overall. The rating is a quick description of this announcement, not a recommendation to buy or sell.
| Period | Revenue | YoY | Gross profit | Operating income | Net income | Diluted EPS | Gross margin | Operating margin | Source |
|---|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $28.24B | +25.5% | $4.75B | $398.00M | $1.11B | $0.32 | 16.8% | 1.4% | 10-Q ↗ |
| Q1 2026 | $22.39B | +15.8% | $4.72B | $941.00M | $477.00M | $0.13 | 21.1% | 4.2% | 10-Q ↗ |
| Q4 2025 † | $24.90B | −3.1% | $5.01B | $1.41B | $901.00M | Unavailable | 20.1% | 5.7% | 10-K ↗ Calculated quarter · inputsRevenue 2025-01-01 – 2025-12-31: $94.83B ↗ 2025-01-01 – 2025-09-30: $69.93B ↗ Gross Profit 2025-01-01 – 2025-12-31: $17.09B ↗ 2025-01-01 – 2025-09-30: $12.09B ↗ Operating Income 2025-01-01 – 2025-12-31: $4.36B ↗ 2025-01-01 – 2025-09-30: $2.95B ↗ Net Income |
| Q3 2025 | $28.10B | +11.6% | $5.05B | $1.62B | $1.37B | $0.39 | 18.0% | 5.8% | 10-Q ↗ |
| Q2 2025 | $22.50B | −11.8% | $3.88B | $923.00M | $1.17B | $0.33 | 17.2% | 4.1% | 10-Q ↗ |
| Q1 2025 | $19.34B | −9.2% | $3.15B | $399.00M | $409.00M | $0.12 | 16.3% | 2.1% | 10-Q ↗ |
| Q4 2024 † | $25.71B | +2.1% | $4.18B | $1.58B | $2.19B | Unavailable | 16.3% | 6.2% | 10-K ↗ Calculated quarter · inputsRevenue 2024-01-01 – 2024-12-31: $97.69B ↗ 2024-01-01 – 2024-09-30: $71.98B ↗ Gross Profit 2024-01-01 – 2024-12-31: $17.45B ↗ 2024-01-01 – 2024-09-30: $13.27B ↗ Operating Income 2024-01-01 – 2024-12-31: $7.08B ↗ 2024-01-01 – 2024-09-30: $5.49B ↗ Net Income |
| Q3 2024 | $25.18B | +7.8% | $5.00B | $2.72B | $2.17B | $0.62 | 19.8% | 10.8% | 10-Q ↗ |
| Q2 2024 | $25.50B | +2.3% | $4.58B | $1.61B | $1.40B | $0.40 | 18.0% | 6.3% | 10-Q ↗ |
| Q1 2024 | $21.30B | −8.7% | $3.70B | $1.17B | $1.39B | $0.41 | 17.4% | 5.5% | 10-Q ↗ |
| Q4 2023 † | $25.17B | +3.5% | $4.44B | $2.06B | $7.91B | Unavailable | 17.6% | 8.2% | 10-K ↗ Calculated quarter · inputsRevenue 2023-01-01 – 2023-12-31: $96.77B ↗ 2023-01-01 – 2023-09-30: $71.61B ↗ Gross Profit 2023-01-01 – 2023-12-31: $17.66B ↗ 2023-01-01 – 2023-09-30: $13.22B ↗ Operating Income 2023-01-01 – 2023-12-31: $8.89B ↗ 2023-01-01 – 2023-09-30: $6.83B ↗ Net Income |
| Q3 2023 | $23.35B | +8.8% | $4.18B | $1.76B | $1.85B | $0.53 | 17.9% | 7.6% | 10-Q ↗ |
| Year | Revenue | YoY | Gross profit | Operating income | Net income | Diluted EPS | Gross margin | Operating margin | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $94.83B | −2.9% | $17.09B | $4.36B | $3.86B | $1.08 | 18.0% | 4.6% | 10-K ↗ |
| FY 2024 | $97.69B | +0.9% | $17.45B | $7.08B | $7.15B | $2.04 | 17.9% | 7.2% | 10-K ↗ |
| FY 2023 | $96.77B | +18.8% | $17.66B | $8.89B | $14.97B | $4.30 | 18.2% | 9.2% | 10-K ↗ |
| FY 2022 | $81.46B | +51.4% | $20.85B | $13.66B | $12.59B | $3.62 | 25.6% | 16.8% | 10-K ↗ |
| FY 2021 | $53.82B | +70.7% | $13.61B | $6.52B | $5.64B | $1.63 | 25.3% | 12.1% | 10-K ↗ |
| FY 2020 | $31.54B | +28.3% | $6.63B | $1.99B | $721.00M | $0.21 | 21.0% | 6.3% | 10-K ↗ |
| FY 2019 | $24.58B | +14.5% | $4.07B | −$69.00M | −$862.00M | $-0.33 | 16.6% | −0.3% | 10-K ↗ |
| FY 2018 | $21.46B | +82.5% | $4.04B | −$388.07M | −$976.09M | $-0.38 | 18.8% | −1.8% | 10-K ↗ |
Calculated from four consecutive quarters. Free cash flow is operating cash flow less purchases of property, plant and equipment.
| Period | Operating cash flow | Capital expenditure | Free cash flow | R&D expense | Sources & calculations |
|---|---|---|---|---|---|
| Q2 2026 | $4.70B † | $5.79B † | −$1.09B | $2.37B | Filed inputsOperating cash flow ↗ 2026-01-01 – 2026-06-30: $8.63B ↗ 2026-01-01 – 2026-03-31: $3.94B ↗ Capital expenditure ↗ 2026-01-01 – 2026-06-30: $8.28B ↗ |
| Q1 2026 | $3.94B | $2.49B | $1.44B | $1.95B | |
| Q4 2025 | $3.81B † | $2.39B † | $1.42B | $1.78B † | Filed inputsOperating cash flow ↗ 2025-01-01 – 2025-12-31: $14.75B ↗ 2025-01-01 – 2025-09-30: $10.93B ↗ Capital expenditure ↗ 2025-01-01 – 2025-12-31: $8.53B ↗ 2025-01-01 – 2025-09-30: $6.13B ↗ R&D ↗ |
| Q3 2025 | $6.24B † | $2.25B † | $3.99B | $1.63B | Filed inputsOperating cash flow ↗ 2025-01-01 – 2025-09-30: $10.93B ↗ 2025-01-01 – 2025-06-30: $4.70B ↗ Capital expenditure ↗ 2025-01-01 – 2025-09-30: $6.13B ↗ |
| Q2 2025 | $2.54B † | $2.39B † | $146.00M | $1.59B | Filed inputsOperating cash flow ↗ 2025-01-01 – 2025-06-30: $4.70B ↗ 2025-01-01 – 2025-03-31: $2.16B ↗ Capital expenditure ↗ 2025-01-01 – 2025-06-30: $3.89B ↗ |
| Q1 2025 | $2.16B | $1.49B | $664.00M | $1.41B | |
| Q4 2024 | $4.81B † | $2.78B † | $2.03B | $1.28B † | Filed inputsOperating cash flow ↗ 2024-01-01 – 2024-12-31: $14.92B ↗ 2024-01-01 – 2024-09-30: $10.11B ↗ Capital expenditure ↗ 2024-01-01 – 2024-12-31: $11.34B ↗ 2024-01-01 – 2024-09-30: $8.56B ↗ R&D ↗ |
| Q3 2024 | $6.26B † | $3.51B † | $2.74B | $1.04B | Filed inputsOperating cash flow ↗ 2024-01-01 – 2024-09-30: $10.11B ↗ 2024-01-01 – 2024-06-30: $3.85B ↗ Capital expenditure ↗ 2024-01-01 – 2024-09-30: $8.56B ↗ |
| Q2 2024 | $3.61B † | $2.27B † | $1.34B | $1.07B | Filed inputsOperating cash flow ↗ 2024-01-01 – 2024-06-30: $3.85B ↗ 2024-01-01 – 2024-03-31: $242.00M ↗ Capital expenditure ↗ 2024-01-01 – 2024-06-30: $5.05B ↗ |
| Q1 2024 | $242.00M | $2.78B | −$2.54B | $1.15B | |
| Q4 2023 | $4.37B † | $2.31B † | $2.06B | $1.09B † | Filed inputsOperating cash flow ↗ 2023-01-01 – 2023-12-31: $13.26B ↗ 2023-01-01 – 2023-09-30: $8.89B ↗ Capital expenditure ↗ 2023-01-01 – 2023-12-31: $8.90B ↗ 2023-01-01 – 2023-09-30: $6.59B ↗ R&D ↗ |
| Q3 2023 | $3.31B † | $2.46B † | $848.00M | $1.16B | Filed inputsOperating cash flow ↗ 2023-01-01 – 2023-09-30: $8.89B ↗ 2023-01-01 – 2023-06-30: $5.58B ↗ Capital expenditure ↗ 2023-01-01 – 2023-09-30: $6.59B ↗ |
| Period | Operating cash flow | Capital expenditure | Free cash flow | R&D expense | Sources & calculations |
|---|---|---|---|---|---|
| FY 2025 | $14.75B | $8.53B | $6.22B | $6.41B | |
| FY 2024 | $14.92B | $11.34B | $3.58B | $4.54B | |
| FY 2023 | $13.26B | $8.90B | $4.36B | $3.97B | |
| FY 2022 | $14.72B | $7.16B | $7.57B | $3.08B | |
| FY 2021 | $11.50B | $6.48B | $5.02B | $2.59B | |
| FY 2020 | $5.94B | $3.16B | $2.79B | $1.49B | |
| FY 2019 | $2.41B | $1.33B | $1.08B | $1.34B | |
| FY 2018 | $2.10B | $2.10B | −$2.92M | $1.46B |
† Calculated from filed cumulative amounts for the same financial year. A missing input leaves the result unavailable. Free cash flow is a calculated non-GAAP measure; capital expenditure is shown as a positive cash outflow. R&D is an income-statement expense. All amounts are USD.
1,759 items materialized; the SEC index identifies 1,759 filings in recent and historical submission files. Filter without losing the original source.
Tesla, Inc. filed an 8-K covering operating or financial results, supporting financial statements or exhibits.
Why it matters: An 8-K is the SEC form companies use for current events that investors may need before the next quarterly report.
Tesla, Inc. filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla, Inc. filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla, Inc. filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla, Inc. filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla, Inc. filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla, Inc. produced 464,391 vehicles, delivered 486,532 vehicles, deployed 13.7 GWh of energy storage.
Why it matters: Deliveries indicate near-term vehicle demand and recognized sales; production affects inventory, while energy deployment shows growth outside the vehicle business.
Tesla, Inc. filed an 8-K covering a material agreement, the end of a material agreement, a material financing obligation, supporting financial statements or exhibits.
Why it matters: An 8-K is the SEC form companies use for current events that investors may need before the next quarterly report.
Revenue was $28.24B, up 25.5% year over year. Net income was $1.11B, down 4.9% year over year. Diluted EPS was $0.32 versus $0.33 a year earlier. Gross margin 16.8% and operating margin 1.4%.
Why it matters: The reported trend weakened overall. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Revenue was $28.24B, up 25.5% year over year. Net income was $1.11B, down 4.9% year over year. Diluted EPS was $0.32 versus $0.33 a year earlier. Gross margin 16.8% and operating margin 1.4%.
Why it matters: The reported trend weakened overall. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Tesla produced 451,758 vehicles, up 10.1% year over year, delivered 480,126 vehicles, up 25.0% year over year, deployed 13.5 GWh of energy storage, up 40.6% year over year.
Why it matters: Deliveries indicate near-term vehicle demand and recognized sales; production affects inventory, while energy deployment shows growth outside the vehicle business.
A holder reported or amended a beneficial ownership position of more than 5% in Tesla.
Why it matters: Schedule 13D and 13G filings identify large holders; an amendment may reflect either a position change or an administrative update.
Revenue was $94.83B, down 2.9% year over year. Net income was $3.79B, down 46.5% year over year. Diluted EPS was $1.08 versus $2.04 a year earlier. Gross margin 18.0% and operating margin 4.6%.
Why it matters: The reported deterioration was severe across key measures. The rating is a quick description of this announcement, not a recommendation to buy or sell.
A holder reported or amended a beneficial ownership position of more than 5% in Tesla.
Why it matters: Schedule 13D and 13G filings identify large holders; an amendment may reflect either a position change or an administrative update.
Tesla filed a registration or prospectus document concerning securities.
Why it matters: A registration can enable issuance or employee-plan shares; it does not necessarily mean shares were sold immediately.
A holder reported or amended a beneficial ownership position of more than 5% in Tesla.
Why it matters: Schedule 13D and 13G filings identify large holders; an amendment may reflect either a position change or an administrative update.
Revenue was $22.39B, up 15.8% year over year. Net income was $477.0M, up 16.6% year over year. Diluted EPS was $0.13 versus $0.12 a year earlier. Gross margin 21.1% and operating margin 4.2%.
Why it matters: The reported growth and profitability trend was strongly positive. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Revenue was $22.39B, up 15.8% year over year. Net income was $477.0M, up 16.6% year over year. Diluted EPS was $0.13 versus $0.12 a year earlier. Gross margin 21.1% and operating margin 4.2%.
Why it matters: The reported growth and profitability trend was strongly positive. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Tesla produced 408,386 vehicles, up 12.6% year over year, delivered 358,023 vehicles, up 6.3% year over year, deployed 8.8 GWh of energy storage, down 15.4% year over year.
Why it matters: Deliveries indicate near-term vehicle demand and recognized sales; production affects inventory, while energy deployment shows growth outside the vehicle business.
A holder reported or amended a beneficial ownership position of more than 5% in Tesla.
Why it matters: Schedule 13D and 13G filings identify large holders; an amendment may reflect either a position change or an administrative update.
Revenue was $94.83B, down 2.9% year over year. Net income was $3.79B, down 46.5% year over year. Diluted EPS was $1.08 versus $2.04 a year earlier. Gross margin 18.0% and operating margin 4.6%.
Why it matters: The reported deterioration was severe across key measures. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Revenue was $94.83B, down 2.9% year over year. Net income was $3.79B, down 46.5% year over year. Diluted EPS was $1.08 versus $2.04 a year earlier. Gross margin 18.0% and operating margin 4.6%.
Why it matters: The reported deterioration was severe across key measures. The rating is a quick description of this announcement, not a recommendation to buy or sell.
Tesla produced 434,358 vehicles, down 5.5% year over year, delivered 418,227 vehicles, down 15.6% year over year, deployed 14.2 GWh of energy storage, up 29.1% year over year.
Why it matters: Deliveries indicate near-term vehicle demand and recognized sales; production affects inventory, while energy deployment shows growth outside the vehicle business.
A holder reported or amended a beneficial ownership position of more than 5% in Tesla.
Why it matters: Schedule 13D and 13G filings identify large holders; an amendment may reflect either a position change or an administrative update.
Tesla filed a registration or prospectus document concerning securities.
Why it matters: A registration can enable issuance or employee-plan shares; it does not necessarily mean shares were sold immediately.
Tesla filed an 8-K covering a director or senior management change or compensation event, shareholder voting results, supporting financial statements or exhibits.
Why it matters: An 8-K is the SEC form companies use for current events that investors may need before the next quarterly report.
Tesla filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Tesla filed materials concerning shareholder voting, governance, director elections or executive compensation.
Why it matters: Proxy filings explain the decisions shareholders can vote on and the company’s governance and compensation arrangements.
Operating announcements extracted from official documents; year-over-year ratings require a comparable filing.
Institutional positions can have different reporting dates. Each row keeps Nasdaq’s reported date rather than implying a single live snapshot.
| Institution | Report date | Shares | Change | Reported value |
|---|---|---|---|---|
| Vanguard Group Inc | 12/31/2025 | 258,925,024 | 2.591% | $96,762,871K |
| Blackrock, Inc. | 6/30/2026 | 214,123,129 | 2.897% | $80,019,955K |
| Vanguard Capital Management Llc | 6/30/2026 | 184,023,551 | 0.641% | $68,771,441K |
| State Street Corp | 6/30/2026 | 117,456,756 | 2.408% | $43,894,764K |
| Geode Capital Management, Llc | 6/30/2026 | 68,914,720 | 1.341% | $25,754,120K |
| Invesco Ltd. | 6/30/2026 | 55,464,442 | 1.063% | $20,727,617K |
| Vanguard Portfolio Management Llc | 6/30/2026 | 49,550,535 | 0.604% | $18,517,530K |
| Capital World Investors | 6/30/2026 | 45,735,669 | 6.6% | $17,091,877K |
| Jpmorgan Chase & Co | 6/30/2026 | 41,972,287 | -8.905% | $15,685,463K |
| Fmr Llc | 6/30/2026 | 39,766,224 | 10.376% | $14,861,036K |
Transaction type matters: an option exercise, tax withholding disposition and open-market sale are not treated as the same event.
| Insider | Role | Date | Transaction | Shares | Price | Shares after | Source |
|---|---|---|---|---|---|---|---|
| Taneja Vaibhav | Chief Financial Officer | 8 Sep 2026 | Open-market sale (S) | −2,606 | $360.13 | 25,972 | Form 4 (opens in a new tab) |
| Taneja Vaibhav | Chief Financial Officer | 5 Sep 2026 | Option exercise (M) | +6,539 | No price | 28,578 | Form 4 (opens in a new tab) |
| Musk Elon | Director, CEO, 10% owner | 16 Jun 2026 | Option exercise (M) | +303,960,630 | $23.34 | 727,704,534 | Form 4 (opens in a new tab) |
| Musk Elon | Director, CEO, 10% owner | 16 Jun 2026 | Tax withholding (F) | −17,531,857 | $404.66 | 710,172,677 | Form 4 (opens in a new tab) |
| Taneja Vaibhav | Chief Financial Officer | 8 Jun 2026 | Open-market sale (S) | −2,606 | $402.20 | 22,039 | Form 4 (opens in a new tab) |
| Taneja Vaibhav | Chief Financial Officer | 5 Jun 2026 | Option exercise (M) | +6,538 | No price | 24,645 | Form 4 (opens in a new tab) |
| Taneja Vaibhav | Chief Financial Officer | 13 May 2026 | Option exercise (M) | +3,000 | $18.29 avg ($18.22–$18.44, 2 lots) | 21,107 | Form 4 (opens in a new tab) |
| Taneja Vaibhav | Chief Financial Officer | 13 May 2026 | Open-market sale (S) | −3,000 | $450.00 | 18,107 | Form 4 (opens in a new tab) |
| Wilson-Thompson Kathleen | Director | 30 Apr 2026 | Option exercise (M) | +40,948 | $14.99 | 74,808 | Form 4 (opens in a new tab) |
| Wilson-Thompson Kathleen | Director | 30 Apr 2026 | Open-market sale (S) | −26,409 | $378.11 avg ($369.01–$384.28, 16 lots) | 48,399 | Form 4 (opens in a new tab) |
| Musk Elon | Director, CEO, 10% owner | 21 Apr 2026 | Disposition to the company (D) | −96,000,000 | No price | 423,743,904 | Form 4 (opens in a new tab) |
| Zhu Xiaotong | SVP | 31 Mar 2026 | Option exercise (M) | +20,000 | $20.57 | 20,000 | Form 4 (opens in a new tab) |
Original Forms 3, 4 and 5 from Tesla’s SEC filing index. Filing dates are shown below; a filing alone does not identify an open-market purchase or sale.
| Form | Filed | Report date | Original filing |
|---|---|---|---|
| 4 | 9 Sep 2026 | 5 Sep 2026 | 0001104659-26-106432 ↗ |
| 4 | 17 Jun 2026 | 16 Jun 2026 | 0001104659-26-075213 ↗ |
| 4 | 9 Jun 2026 | 5 Jun 2026 | 0001104659-26-071970 ↗ |
| 4 | 15 May 2026 | 13 May 2026 | 0001104659-26-062860 ↗ |
| 4 | 4 May 2026 | 30 Apr 2026 | 0001104659-26-055079 ↗ |
| 4 | 23 Apr 2026 | 21 Apr 2026 | 0001104659-26-047678 ↗ |
| 4 | 2 Apr 2026 | 31 Mar 2026 | 0001972928-26-000002 ↗ |
| 4 | 1 Apr 2026 | 30 Mar 2026 | 0001104659-26-038682 ↗ |
| 4 | 9 Mar 2026 | 5 Mar 2026 | 0001104659-26-025379 ↗ |
| 4 | 27 Feb 2026 | 25 Feb 2026 | 0001104659-26-021746 ↗ |
| 4 | 12 Jan 2026 | 8 Jan 2026 | 0001972928-26-000001 ↗ |
| 4 | 6 Jan 2026 | 2 Jan 2026 | 0001104659-26-001460 ↗ |
Short interest is reported twice monthly and is not a live short-position count. Consensus surprises are estimates versus reported results, not GAAP trend ratings.
| Settlement | Short shares | Avg volume | Days to cover |
|---|---|---|---|
| 09/30/2026 | 70,931,312 | 36,582,381 | 1.94 |
| 09/15/2026 | 68,862,357 | 40,108,176 | 1.72 |
| 08/31/2026 | 74,230,933 | 36,423,555 | 2.04 |
| 08/14/2026 | 69,196,896 | 32,128,184 | 2.15 |
| 07/31/2026 | 68,501,639 | 44,213,010 | 1.55 |
| 07/15/2026 | 70,646,375 | 39,663,962 | 1.78 |
| 06/30/2026 | 79,109,257 | 45,999,264 | 1.72 |
| 06/15/2026 | 78,183,135 | 48,798,744 | 1.60 |
| Quarter | Reported | Nasdaq EPS | SEC diluted EPS | Nasdaq consensus | Nasdaq surprise |
|---|---|---|---|---|---|
| Jun 2026 | 7/22/2026 | $0.04 ‡ | $0.32 ↗ | 0.32 | Withheld |
| Mar 2026 | 4/22/2026 | $0.18 ‡ | $0.13 ↗ | 0.21 | Withheld |
| Dec 2025 | 1/28/2026 | $0.31 | Unavailable | 0.34 | −8.8% |
| Sep 2025 | 10/22/2025 | $0.37 ‡ | $0.39 ↗ | 0.41 | Withheld |
‡ Nasdaq EPS differs from SEC diluted EPS for this period. The surprise is withheld when that EPS figure contradicts the linked filing. The linked SEC filing is the source for GAAP diluted EPS.
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