# Tesla Stock Q3 2026: Cybercab on the Road, Optimus on the Line and $20bn of Capex
> Tesla stock Q3 2026: flat $28bn revenue, a 2.6% operating margin, Cybercab and Optimus, $20bn of capex, SpaceX talks and our $35.85 DCF value vs $399.81.

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## Facts
- Ticker: TSLA
- QSILabs fair value: $35.85 USD
- Price: $399.81 (as of 2026-10-30)
- As of: Q3 2026 results (21 Oct 2026), Form 10-Q (22 Oct 2026) and the 30 Oct 2026 close
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/tesla-stock-q3-2026-earnings-robotaxi-optimus/

## Short answer
Tesla (TSLA) stock is priced for a very different company from the one in its Q3 2026 accounts. Revenue is flat, operating profit fell 56% and capital spending more than doubled. Our discounted cash flow model, which gives real but probability-weighted credit to robotaxis and Optimus, puts Tesla's value at $35.85 a share, about 91% below the $399.81 close on 30 October 2026. Investors at today's price are paying for an outcome far larger than anything the company has yet reported.

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