Tearsheet

Tesla (TSLA)

Market Price (12/23/2025): $490.07 | Market Cap: $1.6 Tril
Sector: Consumer Discretionary | Industry: Automobile Manufacturers

Tesla (TSLA)

Market Price (12/23/2025): $490.07
Market Cap: $1.6 Tril
Sector: Consumer Discretionary
Industry: Automobile Manufacturers

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 16 Bil, FCF LTM is 6.8 Bil	Trading close to highs Dist 52W High is -0.2%, Dist 3Y High is -0.2%	Expensive valuation multiples P/SPrice/Sales ratio is 16x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 226x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 100x, P/EPrice/Earnings or Price/(Net Income) is 311x
1	Megatrend and thematic drivers Megatrends include Electric Vehicles & Autonomous Driving, Renewable Energy Transition, Battery Technology & Metals, Automation & Robotics, Show more.		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%
2			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9%
3			Key risks TSLA key risks include [1] significant regulatory and legal challenges concerning its autonomous driving technology and [2] the company's heavy dependence on its controversial and distracted CEO, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 16 Bil, FCF LTM is 6.8 Bil
1	Megatrend and thematic drivers Megatrends include Electric Vehicles & Autonomous Driving, Renewable Energy Transition, Battery Technology & Metals, Automation & Robotics, Show more.
2	Trading close to highs Dist 52W High is -0.2%, Dist 3Y High is -0.2%
3	Expensive valuation multiples P/SPrice/Sales ratio is 16x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 226x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 100x, P/EPrice/Earnings or Price/(Net Income) is 311x
4	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.9%
6	Key risks TSLA key risks include [1] significant regulatory and legal challenges concerning its autonomous driving technology and [2] the company's heavy dependence on its controversial and distracted CEO, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$490.07	$403.84	$248.48	$123.18	$352.26
Market Cap CYE ($ Bil)	1,581.5	1,297.1	790.9	389.2	1,071.9
Total Debt ($ Bil)	13.8	13.6	9.6	5.7	8.9
Total Cash ($ Bil)	41.6	36.6	29.1	22.2	17.7
Enterprise Value ($ Bil)	1,553.6	1,310.7	800.5	394.9	1,080.8
Valuation Ratios
P/S TTM	16.5	13.2	8.1	4.7	19.4
P/EBIT TTM	226.9	138.2	77.9	27.7	155.2
P/E TTM	311.4	181.1	52.6	30.6	188.7
P/FCF TTM	231.4	360.5	181.0	51.1	299.3
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.9	1.4
P/EBIT TTM (Sector)	7.7	8.3	7.7	6.5	8.2
P/E TTM (Sector)	10.3	11.1	10.3	8.4	10.6
P/FCF TTM (Sector)	11.3	12.4	9.5	7.3	10.4

	12/23/25	2024	2023
Share Price CYE	$490.07	$403.84	$248.48
Market Cap CYE ($ Bil)	1,581.5	1,297.1	790.9
Total Debt ($ Bil)	13.8	13.6	9.6
Total Cash ($ Bil)	41.6	36.6	29.1
Enterprise Value ($ Bil)	1,553.6	1,310.7	800.5
Valuation Ratios
P/S TTM	16.5	13.2	8.1
P/EBIT TTM	226.9	138.2	77.9
P/E TTM	311.4	181.1	52.6
P/FCF TTM	231.4	360.5	181.0
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.7	8.3	7.7
P/E TTM (Sector)	10.3	11.1	10.3
P/FCF TTM (Sector)	11.3	12.4	9.5

	TSLA	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	95.6
Rev Chg Q	11.6%	7.3%
Rev Chg LTM	-1.6%	6.1%
Rev Chg 3Y Avg	9.3%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	4.9
CFO LTM ($ Bil)	15.7
Net Inc LTM ($ Bil)	5.1
Op Mgn LTM	5.1%	18.8%
CFO/Rev LTM	16.5%	20.4%
Net Inc Mgn	5.3%	13.1%
VALUATION	VERY HIGH
P/S	16.5	3.2
P/CFO	100.4	15.7
P/FCF	231.4	20.7
P/E	311.4	23.5
STABILITY	VERY GOOD
Debt/Equity	0.01	0.21
Cash/Assets	0.31	0.07

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Metric	Value	Date	Source
Vehicle Production	447450	9302025	Link
Vehicle Deliveries	497099	9302025	Link
Energy Storage Deployed (in GWh)	12.5	9302025	Link
Supercharger Stations	7753	9302025	Link
Supercharger Connectors (Stalls)	73817	9302025	Link

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -
4/20/2026	Earnings Release	Rev: - EPS: -

TSLA Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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1. Stronger-than-anticipated vehicle deliveries and production figures were a significant catalyst, indicating robust demand and efficient scaling of manufacturing operations.

2. Positive developments regarding new product launches or advancements in autonomous driving technology generated investor optimism, signaling future growth potential and market leadership.

1. Stronger-than-anticipated vehicle deliveries and production figures were a significant catalyst, indicating robust demand and efficient scaling of manufacturing operations.

2. Positive developments regarding new product launches or advancements in autonomous driving technology generated investor optimism, signaling future growth potential and market leadership.

3. Favorable government policies or incentives for electric vehicles globally, or specific to key markets, likely boosted investor confidence in Tesla's long-term market expansion.

4. Upgrades from prominent financial analysts and increased institutional investor interest, potentially driven by strong earnings reports or positive future guidance, contributed to upward price momentum.

5. Overall positive market sentiment towards growth stocks and the clean energy sector, in which Tesla is a prominent player, provided a supportive environment for its stock appreciation.

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Stock Movement Drivers

Fundamental Drivers

The 12.6% change in TSLA stock from 9/22/2025 to 12/22/2025 was primarily driven by a 30.4% change in the company's P/E Multiple.

	9222025	12222025	Change
Stock Price ($)	434.21	488.73	12.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	92720.00	95633.00	3.14%
Net Income Margin (%)	6.34%	5.31%	-16.24%
P/E Multiple	238.04	310.52	30.45%
Shares Outstanding (Mil)	3223.00	3227.00	-0.12%
Cumulative Contribution			12.56%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
TSLA	12.6%
Market (SPY)	2.7%	63.6%
Sector (XLY)	1.9%	78.5%

Fundamental Drivers

The 40.2% change in TSLA stock from 6/23/2025 to 12/22/2025 was primarily driven by a 69.0% change in the company's P/E Multiple.

	6232025	12222025	Change
Stock Price ($)	348.68	488.73	40.17%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	95724.00	95633.00	-0.10%
Net Income Margin (%)	6.38%	5.31%	-16.75%
P/E Multiple	183.73	310.52	69.01%
Shares Outstanding (Mil)	3218.00	3227.00	-0.28%
Cumulative Contribution			40.16%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
TSLA	40.2%
Market (SPY)	14.4%	52.4%
Sector (XLY)	14.3%	71.9%

Fundamental Drivers

The 16.1% change in TSLA stock from 12/22/2024 to 12/22/2025 was primarily driven by a 198.2% change in the company's P/E Multiple.

	12222024	12222025	Change
Stock Price ($)	421.06	488.73	16.07%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	97150.00	95633.00	-1.56%
Net Income Margin (%)	13.31%	5.31%	-60.10%
P/E Multiple	104.13	310.52	198.22%
Shares Outstanding (Mil)	3198.00	3227.00	-0.91%
Cumulative Contribution			16.06%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
TSLA	16.1%
Market (SPY)	16.9%	69.0%
Sector (XLY)	7.8%	82.2%

Fundamental Drivers

The 296.9% change in TSLA stock from 12/23/2022 to 12/22/2025 was primarily driven by a 797.0% change in the company's P/E Multiple.

	12232022	12222025	Change
Stock Price ($)	123.15	488.73	296.86%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	74863.00	95633.00	27.74%
Net Income Margin (%)	14.95%	5.31%	-64.48%
P/E Multiple	34.62	310.52	797.02%
Shares Outstanding (Mil)	3146.00	3227.00	-2.57%
Cumulative Contribution			296.59%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
TSLA	93.5%
Market (SPY)	47.7%	58.8%
Sector (XLY)	38.4%	78.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
TSLA Return	743%	50%	-65%	102%	63%	19%	1625%
Peers Return	�	�	-56%	-1%	-18%	42%	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
TSLA Win Rate	75%	67%	17%	67%	58%	58%
Peers Win Rate	�	42%	38%	45%	45%	58%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
TSLA Max Drawdown	-14%	-20%	-69%	-12%	-43%	-45%
Peers Max Drawdown	�	�	-62%	-34%	-38%	-30%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GM, F, RIVN, LCID, RUN. See TSLA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	TSLA	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-73.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	279.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	708 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-60.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	154.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	82 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-53.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	115.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	198 days	120 days

Compare to GM, PCAR, F, RIVN, OSK

In The Past

Tesla's stock fell -73.6% during the 2022 Inflation Shock from a high on 11/4/2021. A -73.6% loss requires a 279.3% gain to breakeven.

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About Tesla (TSLA)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; and purchase financing and leasing services. This segment is also involved in the provision of non-warranty after-sales vehicle services, sale of used vehicles, retail merchandise, and vehicle insurance, as well as sale of products to third party customers; services for electric vehicles through its company-owned service locations, and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners. This segment also offers service and repairs to its energy product customers, including under warranty; and various financing options to its solar customers. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.

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The Apple of the automotive industry.
The Google of electric vehicles.

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Electric Vehicles: Tesla produces a range of battery-electric cars (sedans, SUVs, trucks) and a semi-truck, known for their performance and technology.
Energy Storage Systems: Tesla offers large-scale battery systems like Powerwall and Megapack for residential, commercial, and utility-scale energy storage.
Solar Products: Tesla designs and installs solar panels and solar roofs for generating renewable energy for homes and businesses.
Supercharging Network: Tesla operates a global network of fast-charging stations primarily for its electric vehicles.
Full Self-Driving (FSD) Software: This advanced driver-assistance system, available as an optional software upgrade, aims to enable the vehicle to drive autonomously under human supervision.
Vehicle Service & Maintenance: Tesla provides diagnostic, repair, and maintenance services for its vehicles through its service centers and mobile service.

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Tesla (TSLA) primarily sells its electric vehicles directly to individual consumers globally. While the company does have business-to-business sales for its energy storage solutions (Megapack, Powerwall) and some fleet vehicle sales, the overwhelming majority of its revenue and customer base for its core automotive business comes from individuals.

Based on this, here are up to three categories of customers that Tesla serves:

Technology Enthusiasts and Early Adopters: These customers are drawn to Tesla for its cutting-edge technology, including advanced driver-assistance features (Autopilot/FSD), over-the-air software updates, and seamless digital integration. They often appreciate the innovative user interface, high-performance computing, and the "smart device on wheels" experience. This segment typically values innovation and is willing to invest in pioneering automotive technology.
Environmentally Conscious Consumers: A significant portion of Tesla's customer base is motivated by environmental sustainability and the desire to reduce their carbon footprint. These buyers prioritize zero-emission transportation, seeking to contribute to a greener future and reduce reliance on fossil fuels. They often see Tesla as a leader in sustainable energy and automotive technology.
Performance and Luxury Seekers: Many Tesla buyers are attracted by the vehicles' rapid acceleration, responsive handling, and overall premium driving experience. They seek a modern luxury vehicle that offers high performance, sophisticated design, and advanced features, often valuing the distinctive brand image and technological prowess over traditional luxury brands.

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Elon Musk, CEO

Elon Musk is an entrepreneur who co-founded several prominent companies. He co-founded Zip2 in 1995, a software company that was later sold to Compaq for $307 million in 1999. He then co-founded X.com, an online payment company that merged to become PayPal, which eBay acquired in 2002. Musk also founded the space technology company SpaceX in 2002, and the neurotechnology company Neuralink in 2016. He also founded The Boring Company and xAI. He became the CEO of Tesla in 2008, having been an early investor and chairman since 2004.

Vaibhav Taneja, Chief Financial Officer

Vaibhav Taneja is an Indian-American business executive and accountant who became Tesla's Chief Financial Officer in August 2023. Prior to joining Tesla, Taneja worked for PwC in India and the United States from July 1999 to March 2016, ultimately holding the role of senior manager in assurance. In 2016, he joined SolarCity as its corporate controller. He joined Tesla in February 2017 when SolarCity was acquired by Tesla, initially as assistant corporate controller. He was promoted to corporate controller in May 2018 and became chief accounting officer in March 2019. Taneja is also a director of Tesla India Motors and Energy Private Limited.

Tom Zhu, Senior Vice President, Automotive

Tom Zhu (Zhu Xiaotong) serves as Tesla's Senior Vice President of Automotive, a position he has held since April 2023. He joined Tesla in April 2014 and held various operational roles before being appointed Vice President for Greater China, where he was instrumental in the construction and operations of Gigafactory Shanghai. Before joining Tesla, Zhu was a project manager at a company established by his classmates, advising Chinese contractors on infrastructure projects in Africa.

Lars Moravy, VP, Vehicle Engineering

Lars Moravy is the Vice President of Vehicle Engineering at Tesla, having joined the company in 2010. He leads a team of engineers responsible for all Tesla vehicle hardware design, test and validation, development, launch, automation, manufacturing, and sustaining. Before his tenure at Tesla, Moravy was a Suspension Design Engineer III, Chassis Design for Honda R&D.

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The public company Tesla (TSLA) faces several key risks to its business, primarily driven by market dynamics, regulatory scrutiny, and leadership factors.

Increased Competition and Market Share Decline: Tesla is encountering intensifying competition in the global electric vehicle (EV) market from both established automakers and new entrants, particularly from Chinese manufacturers like BYD. This competitive pressure has led to pricing wars, declining sales, and a reduction in Tesla's market share, impacting its revenue and profit margins.
Regulatory and Legal Challenges concerning Autonomous Driving: Tesla faces significant regulatory scrutiny and numerous legal challenges related to its autonomous driving technologies, including Autopilot and Full Self-Driving (FSD). These challenges include shareholder lawsuits alleging the company overstated the capabilities and concealed safety risks of its robotaxi technology, as well as investigations by regulatory bodies such as the National Highway Traffic Safety Administration (NHTSA) into incidents involving FSD.
Dependence on Elon Musk and Leadership Concerns: Tesla's business and public perception are heavily tied to its CEO, Elon Musk. Risks include concerns over his "distractions" due to involvement in other ventures, his controversial public statements, and the potential impact of his leadership style or absence on the company's value and operational focus.

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Increased competition from established and emerging electric vehicle manufacturers, particularly Chinese companies such as BYD, which have surpassed Tesla in global battery electric vehicle sales in certain quarters, offer a wider range of models at competitive price points, and possess strong vertical integration in battery technology.

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Tesla's Addressable Markets for Main Products and Services

The addressable markets for Tesla's main products and services are substantial and are projected to grow significantly in the coming years across various regions, particularly globally and in key markets like North America and Asia Pacific.

Electric Vehicles (EVs)

Global: The global electric vehicle market size was estimated at USD 1,328.08 billion in 2024 and is projected to reach USD 6,523.97 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 32.5% from 2025 to 2030. Another projection indicates the global electric vehicle market size at approximately USD 988.70 billion in 2025, increasing to around USD 2,529.10 billion by 2034. Global EV sales rose to 17.8 million units in 2024 and are projected to reach 21.3 million in 2025, accounting for a 24% market share. These sales are expected to more than double to 40.1 million by 2030.
Asia Pacific: This region held the largest electric vehicle market share in 2024. The Asia Pacific electric vehicle market size was calculated at USD 491.90 billion in 2025 and is anticipated to reach approximately USD 1,377.10 billion by 2034.
Europe: Electric vehicles are set to capture 25% of light-vehicle sales in 2025 and nearly 63% by 2030.

Energy Storage (e.g., Powerwall, Megapack)

Global: The global battery energy storage system (BESS) market size is estimated at USD 10.16 billion in 2025 and is predicted to increase to approximately USD 86.87 billion by 2034. Other estimations place the global battery energy storage market size at USD 50.81 billion in 2025, projected to reach USD 105.96 billion by 2030, or USD 76.69 billion in 2025, expected to reach USD 172.17 billion by 2030. The broader advanced energy storage system market is projected to be worth USD 257.50 billion in 2025 and reach USD 701.20 billion by 2032. Overall, the global energy storage market size is expected to be worth around USD 712.7 billion by 2034, up from USD 267.4 billion in 2024.
U.S.: The U.S. battery energy storage system market size is estimated at USD 3.35 billion in 2025 and is projected to be worth around USD 29.10 billion by 2034. The U.S. energy storage systems market is projected to reach over USD 240 billion by 2032.
Asia Pacific: This region accounted for the largest share of the battery energy storage system market in 2024. The Asia-Pacific region held a dominant market position in the global energy storage industry in 2024, capturing approximately 47.3% of the total market share and reaching a valuation of around USD 126.4 billion.

Solar (e.g., Solar Panels, Solar Roof)

Global: The global solar power market size was valued at USD 253.69 billion in 2023 and is projected to be worth USD 273 billion in 2024, reaching USD 436.36 billion by 2032. Another estimate indicates the global solar energy market size was USD 121.99 billion in 2024 and is projected to surpass approximately USD 389.86 billion by 2034. Additionally, the solar energy market size is reported to have grown from $169.5 billion in 2024 to $217.51 billion in 2025.
U.S.: The Solar Power market in the U.S. is projected to grow significantly, reaching an estimated value of USD 103.96 billion by 2032. In 2024, the U.S. solar energy market had a size of USD 30.12 billion.
Asia Pacific: Asia Pacific dominated the solar power market in terms of share in 2023 and 2024. The market value in this region stood at USD 104.79 billion in 2023, and the Asia Pacific solar energy market size was USD 43.92 billion in 2024, predicted to hit around USD 142.3 billion by 2034.

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Here are 3-5 expected drivers of future revenue growth for Tesla (TSLA) over the next 2-3 years:

1. Expansion of Autonomous Driving (FSD) and Robotaxi Services: Tesla anticipates significant revenue growth from the increasing adoption of its Full Self-Driving (FSD) software and the rollout of its Robotaxi service. FSD adoption rates in North America have shown an uptick, particularly since the release of version 12. The company launched its commercial Robotaxi service in Austin in the second quarter of 2025, with ambitious plans to expand coverage to half of the U.S. population by year-end, pending regulatory approvals. The Cybercab is also projected to reach volume production in 2026.

2. Introduction of More Affordable Vehicle Models: Tesla plans to introduce more affordable vehicle models, with production for lower-cost models starting in the first half of 2025. This initiative aims to drive a substantial increase in vehicle sales, with an estimated 20% to 30% vehicle sales growth projected for the next year.

3. Growth in Energy Generation and Storage Business: The energy storage sector, including Megapack and Powerwall products, continues to be a robust growth area for Tesla. The company reported strong demand and significant growth in this segment, with energy generation and storage revenue soaring 44% year-over-year in Q3 2025. Tesla expects at least 50% growth in energy storage deployments year-over-year in 2025. The scaling of operations at facilities like the Lathrop Megafactory and a new facility in Shanghai supports this growth.

4. Development and Production of Optimus Humanoid Robot: Tesla is making strides in its robotics initiatives, with prototypes of the Optimus humanoid robot expected within three months of Q2 2025 and plans to start production early next year. The company has a medium-confidence target of scaling Optimus production to approximately 100,000 units per month within five years, which could represent a significant future revenue stream.

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Share Repurchases

Tesla has not conducted significant share repurchases between 2020 and 2025. FinanceCharts.com reports $0.00 for share buybacks.
In November 2022, Elon Musk mentioned the board debated a potential share buyback of $5 billion to $10 billion, pending approval.
In September 2025, Elon Musk personally purchased approximately $1 billion worth of Tesla shares.

Share Issuance

In February 2020, Tesla announced an offering of approximately $2 billion of common stock, with a potential to reach $2.3 billion if underwriters exercised their option.
In September 2020, Tesla undertook a $5 billion stock offering.
Tesla's common stock issuance peaked in December 2020 at $12.686 billion.

Inbound Investments

Tesla received over $5 billion in debt financing from Chinese banks (ICBC, China Merchants Bank) between 2017-2019 to fund Gigafactory Shanghai, with an additional $565 million facility from ICBC in 2020.

Outbound Investments

In early 2021, Tesla made a significant investment of $1.5 billion in Bitcoin.
Recent acquisitions include Wiferion in July 2023 and Dacia Romania in December 2022, both for undisclosed values.
Tesla acquired Siilion in November 2021 and ATS Automation Tooling System in October 2020, both for undisclosed amounts.

Capital Expenditures

Capital expenditures consistently increased from $3.232 billion in 2020 to $11.342 billion in 2024.
For 2025, Tesla initially projected capital expenditures to surpass $11 billion, but later reduced the forecast to above $9 billion.
These expenditures primarily focus on developing and ramping new products, building and expanding manufacturing facilities across continents (including Gigafactory expansions and plans for Mexico), advancing battery cell technologies, expanding the Supercharger network, and investing in autonomy and AI-enabled products and training.

Interactive Breakdown

Tesla Interactive Breakdown Analysis

Better Bets than Tesla (TSLA)

INDUSTRY: Automobile Manufacturers

Higher Rev Chg 3Y Avg | Lower P/S (Values for TSLA: 9.3% | 16.5x)

RIVN (103.0% | 4.5x)

Rivian Automotive

LCID (45.2% | 3.6x)

Lucid

WKHS (985.5% | 0.7x)

Workhorse

Higher Rev Chg LTM (Value for TSLA: -1.6%)

LCID (45.9%)

Lucid

RIVN (28.2%)

Rivian Automotive

F (3.7%)

Ford Motor

GM (2.6%)

General Motors

WGO (1.4%)

Winnebago Industries

Higher Rev Chg 3Y Avg (Value for TSLA: 9.3%)

WKHS (985.5%)

Workhorse

RIVN (103.0%)

Rivian Automotive

LCID (45.2%)

Lucid

Higher CFO/Rev LTM (Value for TSLA: 16.5%)

RIVN (18.6%)

Rivian Automotive

Higher Total Yield (Value for TSLA: 0.3%)

F (12.1%)

Ford Motor

GM (4.7%)

General Motors

WGO (3.8%)

Winnebago Industries

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for TSLA: 9.3% | 16.5x)

AMZN (11.3% | 3.6x)

Amazon.com

BKNG (17.8% | 6.7x)

Booking

MELI (39.5% | 3.9x)

MercadoLibre

DASH (27.8% | 8.0x)

DoorDash

MAR (10.6% | 3.3x)

Marriott International

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TSLA: 9.3% | 324.0x)

AMZN (11.3% | 31.9x)

Amazon.com

BKNG (17.8% | 19.5x)

Booking

MELI (39.5% | 32.3x)

MercadoLibre

DASH (27.8% | 145.0x)

DoorDash

MAR (10.6% | 20.6x)

Marriott International

Higher Rev Chg LTM (Value for TSLA: -1.6%)

BKNG (13.0%)

Booking

AMZN (10.9%)

Amazon.com

HD (7.5%)

Home Depot

TJX (4.5%)

TJX Companies

MCD (1.2%)

McDonald's

Higher Rev Chg 3Y Avg (Value for TSLA: 9.3%)

MELI (39.5%)

MercadoLibre

DASH (27.8%)

DoorDash

BKNG (17.8%)

Booking

AMZN (11.3%)

Amazon.com

MAR (10.6%)

Marriott International

Higher Op Mgn LTM (Value for TSLA: 5.1%)

MCD (46.1%)

McDonald's

BKNG (34.5%)

Booking

HD (13.0%)

Home Depot

AMZN (11.4%)

Amazon.com

TJX (11.3%)

TJX Companies

Higher CFO/Rev LTM (Value for TSLA: 16.5%)

MCD (39.9%)

McDonald's

MELI (37.5%)

MercadoLibre

BKNG (33.2%)

Booking

DASH (20.0%)

DoorDash

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for TSLA: 7.1%)

BKNG (31.9%)

Booking

MCD (28.1%)

McDonald's

HD (8.4%)

Home Depot

LOW (8.4%)

Lowe's Companies

TJX (7.5%)

TJX Companies

Higher Total Yield (Value for TSLA: 0.3%)

HD (6.9%)

Home Depot

MCD (6.0%)

MSFT (3.6%)

Microsoft

GOOGL (3.6%)

Alphabet

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

		Best Bets In Consumer Discretionary Sector
	TSLA	ABNB	BKNG	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH	YUM
What You Pay
P/E	310.5	31.8	34.7	26.8	30.4	22.1	12.1	25.2	21.0	17.6	29.8
P/EBIT	226.3	30.9	20.8	18.4	13.4	14.7	8.9	22.3	18.3	10.3	17.3
What You Get
Rev Chg Q	11.6%	9.7%	12.7%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%	8.4%
Rev Chg LTM	-1.6%	10.2%	13.0%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%	11.6%
Rev Chg 3Y Avg	9.3%	14.2%	17.8%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%	6.4%
FCF/Rev 3Y Avg	4.9%	40.2%	35.6%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Tesla Earnings Notes
2	Tesla Earnings Notes
3	Tesla Stock Can Sink, Here Is How
4	Why Tesla Stock Jumped 90%?
5	Tesla Stock Shares Rally 19% In A Month, Now Is Not The Time To Buy The Stock	Buy or Fear
6	Tesla Stock vs Competition: Who Wins?
7	What Could Light a Fire Under Tesla Stock
8	Why Tesla Stock Jumped 60%?
9	What Can Trigger Tesla Stock's Slide?
10	Would You Still Hold Tesla Stock If It Fell 30%?	Return

	Title
0	ARTICLES

Trade Ideas

Select ideas related to TSLA. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	10.7%	10.7%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.9%	3.9%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.8%	3.8%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.9%	19.9%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.5%	7.5%	-1.6%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Tesla

Peers to compare with:

Financials

	TSLA	GM	F	RIVN	LCID	RUN	Median
Name	Tesla	General .	Ford Mot.	Rivian A.	Lucid	Sunrun
Mkt Price	488.73	83.03	13.46	21.75	12.30	20.24	20.99
Mkt Cap	1,577.1	78.4	53.6	26.5	3.8	4.7	40.1
Rev LTM	95,633	187,435	189,588	5,835	1,066	2,317	50,734
Op Inc LTM	4,868	8,078	3,619	-3,413	-3,170	-358	1,631
FCF LTM	6,834	-1,749	11,897	-489	-3,383	-3,661	-1,119
FCF 3Y Avg	4,719	-2,949	7,967	-3,945	-3,267	-3,443	-3,108
CFO LTM	15,748	24,212	20,426	1,085	-2,549	-777	8,416
CFO 3Y Avg	14,130	22,252	16,306	-2,709	-2,391	-803	6,664

Growth & Margins

	TSLA	GM	F	RIVN	LCID	RUN	Median
Name	Tesla	General .	Ford Mot.	Rivian A.	Lucid	Sunrun
Rev Chg LTM	-1.6%	2.6%	3.7%	28.2%	45.9%	13.8%	8.8%
Rev Chg 3Y Avg	9.3%	8.6%	7.8%	103.0%	45.2%	3.3%	8.9%
Rev Chg Q	11.6%	-0.3%	9.4%	78.3%	68.3%	34.9%	23.2%
QoQ Delta Rev Chg LTM	3.1%	-0.1%	2.3%	13.3%	14.7%	8.8%	6.0%
Op Mgn LTM	5.1%	4.3%	1.9%	-58.5%	-297.5%	-15.4%	-6.8%
Op Mgn 3Y Avg	8.3%	5.8%	2.7%	-113.0%	-384.2%	-27.1%	-12.2%
QoQ Delta Op Mgn LTM	-1.1%	-1.4%	0.3%	11.4%	25.3%	7.5%	3.9%
CFO/Rev LTM	16.5%	12.9%	10.8%	18.6%	-239.2%	-33.5%	11.8%
CFO/Rev 3Y Avg	14.7%	12.3%	8.9%	-69.0%	-296.8%	-35.7%	-13.4%
FCF/Rev LTM	7.1%	-0.9%	6.3%	-8.4%	-317.5%	-158.0%	-4.7%
FCF/Rev 3Y Avg	4.9%	-1.6%	4.3%	-95.2%	-406.8%	-154.2%	-48.4%

Valuation

	TSLA	GM	F	RIVN	LCID	RUN	Median
Name	Tesla	General .	Ford Mot.	Rivian A.	Lucid	Sunrun
Mkt Cap	1,577.1	78.4	53.6	26.5	3.8	4.7	40.1
P/S	16.5	0.4	0.3	4.5	3.6	2.0	2.8
P/EBIT	226.3	14.0	8.2	-8.1	-1.7	-1.3	3.4
P/E	310.5	25.7	11.4	-7.4	-1.7	-1.9	4.9
P/CFO	100.1	3.2	2.6	24.5	-1.5	-6.0	2.9
Total Yield	0.3%	4.7%	12.1%	-13.5%	-59.4%	-52.8%	-6.6%
Dividend Yield	0.0%	0.8%	3.3%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	0.5%	-5.8%	17.2%	-24.9%	-36.0%	-99.4%	-15.3%
D/E	0.0	1.7	3.1	0.2	0.7	3.1	1.2
Net D/E	-0.0	1.3	2.3	-0.0	0.1	3.0	0.7

Returns

	TSLA	GM	F	RIVN	LCID	RUN	Median
Name	Tesla	General .	Ford Mot.	Rivian A.	Lucid	Sunrun
1M Rtn	25.0%	18.3%	4.9%	46.4%	0.0%	12.9%	15.6%
3M Rtn	12.6%	41.3%	16.8%	42.7%	-45.2%	14.9%	15.9%
6M Rtn	40.2%	71.9%	28.4%	59.3%	-43.1%	224.4%	49.8%
12M Rtn	16.1%	61.9%	46.3%	57.3%	-59.3%	105.1%	51.8%
3Y Rtn	296.9%	153.2%	50.3%	13.6%	-81.6%	-20.7%	32.0%
1M Excs Rtn	18.5%	17.1%	3.3%	43.2%	-0.2%	8.4%	12.8%
3M Excs Rtn	11.4%	38.7%	12.7%	36.7%	-48.0%	19.7%	16.2%
6M Excs Rtn	30.6%	57.3%	15.7%	44.6%	-56.2%	168.2%	37.6%
12M Excs Rtn	-6.1%	50.7%	32.0%	49.4%	-68.5%	104.1%	40.7%
3Y Excs Rtn	133.4%	51.2%	-45.5%	-85.8%	-160.1%	-112.0%	-65.7%

Comparison Analyses

	Title
0	Tesla vs. Broadcom: With Return Forecast Of 29%, Broadcom Is A Better Bet
1	Tesla vs. General Motors: With Return Forecast Of 40%, General Motors Is A Better Bet
2	Tesla vs. PACCAR: With Return Forecast Of 19%, Tesla Is A Better Bet
3	Tesla vs. Ford Motor: With Return Forecast Of 28%, Ford Motor Is A Better Bet
4	Tesla vs. Oshkosh: With Return Forecast Of 26%, Oshkosh Is A Better Bet
5	Tesla vs. Rivian Automotive: With Return Forecast Of 51%, Rivian Automotive Is A Better Bet
6	Tesla vs. Procter & Gamble: With Return Forecast Of 22%, Tesla Is A Better Bet
7	Tesla vs. Johnson & Johnson: With Return Forecast Of 22%, Tesla Is A Better Bet
8	Tesla vs. PepsiCo: With Return Forecast Of 22%, Tesla Is A Better Bet
9	Tesla vs. Walmart: With Return Forecast Of 26%, Tesla Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/23/2025	1/30/2025	1/29/2024	1/31/2023	2/7/2022	2/8/2021	2/13/2020
Key Financials
Total Revenue	95,633	97,690	96,773	81,462	53,823	31,536	24,578
EBITDA	12,971	14,708	14,796	17,657	9,625	4,224	2,174
Operating Income	4,868	7,760	8,891	13,832	6,496	1,994	80
Net Income	5,079	7,130	14,999	12,583	5,524	690	-870
EPS	1.64	2.23	4.73	4.02	1.87	0.25	-0.33
Growth Rates
Total Revenue Growth	-1.6%	0.9%	18.8%	51.4%	70.7%	28.3%	14.5%
EBITDA Growth	-7.9%	-0.6%	-16.2%	83.4%	127.9%	94.3%	39.4%
Operating Income Growth	-40.9%	-12.7%	-35.7%	112.9%	225.8%	2392.5%	131.6%
Net Income Growth	-60.7%	-52.5%	19.2%	127.8%	700.6%	179.3%	10.9%
Margins
EBITDA Margin	13.6%	15.1%	15.3%	21.7%	17.9%	13.4%	8.8%
Operating Income Margin	5.1%	7.9%	9.2%	17.0%	12.1%	6.3%	0.3%
Net Income Margin	5.3%	7.3%	15.5%	15.4%	10.3%	2.2%	-3.5%
Cash & Debt
Total Cash	41,647	36,563	29,094	22,185	17,707	19,384	6,268
Total Debt	13,788	13,623	9,573	5,748	8,873	13,279	14,603
Net Debt / (Cash)	-27,859	-22,940	-19,521	-16,437	-8,834	-6,105	8,335
Cash Flows
Net Cash from Operations	15,748	14,923	13,256	14,724	11,497	5,943	2,405
Free Cash from Operations	6,834	3,581	4,357	7,552	3,483	2,701	968
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/24/2025	4/23/2025	1/30/2025	10/24/2024	7/24/2024	4/24/2024	1/29/2024	10/23/2023	7/24/2023	4/24/2023	1/31/2023
Key Financials Quarterly
Total Revenue	28,095	22,496	19,335	25,707	25,182	25,500	21,301	25,167	23,350	24,927	23,329	24,318
Ebitda	3,660	3,068	2,127	4,116	4,231	3,151	3,210	3,484	3,318	4,119	3,875	5,005
Operating Income	1,862	923	493	1,590	2,772	2,227	1,171	2,064	1,764	2,399	2,664	3,935
Net Income	1,373	1,172	409	2,125	2,173	1,400	1,432	7,927	1,851	2,703	2,518	3,722
EPS	0.43	0.36	0.13	0.72	0.68	0.44	0.45	2.49	0.58	0.85	0.80	1.18
Key Financials TTM
Total Revenue TTM	95,633	92,720	95,724	97,690	97,150	95,318	94,745	96,773	95,924	94,028	86,035	81,462
Ebitda TTM	12,971	13,542	13,625	14,708	14,076	13,163	14,131	14,796	16,317	17,644	16,965	17,657
Operating Income TTM	4,868	5,778	7,082	7,760	8,234	7,226	7,398	8,891	10,762	12,686	12,893	13,832
Net Income TTM	5,079	5,879	6,107	7,130	12,932	12,610	13,913	14,999	10,794	12,235	11,788	12,588
Growth Rates Quarterly
Total Revenue Growth	11.6%	-11.8%	-9.2%	2.1%	7.8%	2.3%	-8.7%	3.5%	8.8%	47.2%	24.4%	37.2%
EBITDA Growth	-13.5%	-2.6%	-33.7%	18.1%	27.5%	-23.5%	-17.2%	-30.4%	-28.6%	19.7%	-15.2%	40.8%
Operating Income Growth	-32.8%	-58.6%	-57.9%	-23.0%	57.1%	-7.2%	-56.0%	-47.5%	-52.2%	-7.9%	-26.1%	50.6%
Net Income Growth	-36.8%	-16.3%	-71.4%	-73.2%	17.4%	-48.2%	-43.1%	113.0%	-43.8%	19.8%	-24.1%	60.0%
Margins Quarterly
EBITDA Margin	13.0%	13.6%	11.0%	16.0%	16.8%	12.4%	15.1%	13.8%	14.2%	16.5%	16.6%	20.6%
Operating Income Margin	6.6%	4.1%	2.5%	6.2%	11.0%	8.7%	5.5%	8.2%	7.6%	9.6%	11.4%	16.2%
Net Income Margin	4.9%	5.2%	2.1%	8.3%	8.6%	5.5%	6.7%	31.5%	7.9%	10.8%	10.8%	15.3%
Cash & Debt
Total Cash	41,647	36,782	36,996	36,563	33,648	30,720	26,863	29,094	26,077	23,075	22,402	22,185
Total Debt	13,788	13,134	13,128	13,623	12,783	12,515	9,911	9,573	8,187	5,811	5,574	5,748
Net Debt / (Cash)	-27,859	-23,648	-23,868	-22,940	-20,865	-18,205	-16,952	-19,521	-17,890	-17,264	-16,828	-16,437
Cash Flows Quarterly
FCF from Operations	6,238	2,540	2,156	4,814	6,255	3,612	242	4,370	3,308	3,065	2,513	3,278
Cash Flows TTM
FCF from Operations TTM	15,748	15,765	16,837	14,923	14,479	11,532	10,985	13,256	12,164	13,956	13,242	14,724
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	37.9%	16.8%	9.3%	36.6%	53.0%	39.7%	18.9%	54.2%	41.5%	54.2%	61.0%	95.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	27.1%	27.3%	37.4%	41.8%	50.2%	40.7%	40.2%	58.4%	62.9%	73.5%	74.8%	82.5%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Automotive segment	90,738	77,553	51,034	29,542	23,047
Energy generation and storage segment	6,035	3,909	2,789	1,994	1,531
Total	96,773	81,462	53,823	31,536	24,578

Price Behavior

Price Behavior

Market Price	$488.73
Market Cap ($ Bil)	1,577.1
First Trading Date	06/29/2010
Distance from 52W High	-0.2%
	50 Days	200 Days
DMA Price	$441.22	$351.97
DMA Trend	up	up
Distance from DMA	10.8%	38.9%
	3M	1YR
Volatility	48.6%	64.4%
Downside Capture	222.14	238.59
Upside Capture	252.76	218.65
Correlation (SPY)	63.7%	68.4%

TSLA Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.62	2.59	2.57	2.50	2.27	2.24
Up Beta	3.13	3.07	3.24	3.07	2.32	2.24
Down Beta	3.74	1.90	3.07	2.65	2.09	2.18
Up Capture	215%	261%	303%	267%	534%	2900%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	10	21	37	68	127	385
Down Capture	236%	266%	173%	206%	150%	111%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	25	56	120	363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of TSLA With Other Asset Classes (Last 1Y)
	TSLA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.8%	3.1%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	64.6%	24.7%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	0.28	0.07	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		82.3%	69.1%	2.4%	23.7%	39.2%	41.7%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of TSLA With Other Asset Classes (Last 5Y)
	TSLA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	18.0%	10.2%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	60.8%	23.8%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.52	0.39	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		76.8%	56.8%	3.1%	10.6%	33.3%	30.7%

Based On 10-Year Data

		Comparison of TSLA With Other Asset Classes (Last 10Y)
	TSLA	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	42.1%	13.3%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	59.2%	22.0%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.84	0.56	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		62.9%	49.3%	3.6%	18.1%	31.6%	18.7%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	78,303,390
Short Interest: % Change Since 11152025	10.0%
Average Daily Volume	81,018,337
Days-to-Cover Short Interest	1
Basic Shares Quantity	3,227,000,000
Short % of Basic Shares	2.4%

Returns Analyses

	Title
0	Would You Still Hold Tesla Stock If It Fell 30%?
1	Tesla Stock Jump Looks Great, But How Secure Is That Gain?
2	TSLA YTD Stock Return Of -13% Underperforms PCAR by -6.9% and Underperforms RIVN by -32%
3	Tesla (TSLA) Stock Has 76% Chance Of Rise In The Next One Month
4	TSLA YTD Stock Return Of -18% Outperforms GM by 15% and Underperforms PII by -25%
5	Tesla Stock Return Comparison
6	Tesla (TSLA) Stock Movement Probability: AI Predicts TSLA Stock Price To Move Up 2% In A Week
7	Tesla Total Shareholder Return (TSR): 101.7% in 2023 and 1.8% 3-yr returns (above peer average)
8	Automobile Manufacturers Industry Return: 48% YTD Return vs 17% For S&P 500

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/2/2025	-5.1%	-4.5%	-4.2%
7/2/2025	5.0%	3.0%	0.6%
4/2/2025	5.3%	-17.4%	4.5%
1/2/2025	-6.1%	-2.2%	-5.0%
10/2/2024	-3.5%	-5.2%	-0.2%
7/2/2024	10.2%	25.0%	10.6%
4/2/2024	1.1%	6.2%	8.0%
1/2/2024	-4.0%	-5.4%	-24.0%
...
SUMMARY STATS
# Positive	15	12	13
# Negative	9	12	11
Median Positive	5.0%	5.1%	23.7%
Median Negative	-6.1%	-5.1%	-13.4%
Max Positive	13.5%	26.1%	81.3%
Max Negative	-12.2%	-17.4%	-24.0%

	Forward Returns
10/2/2025	-5.1%	-4.5%	-4.2%
7/2/2025	5.0%	3.0%	0.6%
4/2/2025	5.3%	-17.4%	4.5%
1/2/2025	-6.1%	-2.2%	-5.0%
10/2/2024	-3.5%	-5.2%	-0.2%
7/2/2024	10.2%	25.0%	10.6%
4/2/2024	1.1%	6.2%	8.0%
1/2/2024	-4.0%	-5.4%	-24.0%
10/2/2023	0.6%	4.1%	-21.1%
7/3/2023	6.9%	3.0%	-0.3%
4/3/2023	-6.1%	-11.1%	-22.7%
1/3/2023	-12.2%	-2.8%	47.3%
10/3/2022	-8.6%	-15.9%	-14.2%
7/5/2022	2.6%	3.1%	32.3%
4/4/2022	5.6%	-5.4%	-16.2%
1/3/2022	13.5%	-2.8%	-11.9%
10/4/2021	0.8%	1.3%	55.9%
7/2/2021	0.1%	-3.1%	4.7%
4/2/2021	-0.9%	2.4%	6.2%
1/4/2021	3.4%	24.7%	23.7%
10/2/2020	-7.4%	-5.0%	-13.4%
7/2/2020	8.0%	24.5%	27.8%
4/2/2020	5.6%	26.1%	67.5%
1/3/2020	3.0%	11.9%	81.3%
SUMMARY STATS
# Positive	15	12	13
# Negative	9	12	11
Median Positive	5.0%	5.1%	23.7%
Median Negative	-6.1%	-5.1%	-13.4%
Max Positive	13.5%	26.1%	81.3%
Max Negative	-12.2%	-17.4%	-24.0%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10232025	10-Q 9/30/2025
6302025	7242025	10-Q 6/30/2025
3312025	4232025	10-Q 3/31/2025
12312024	1302025	10-K 12/31/2024
9302024	10242024	10-Q 9/30/2024
6302024	7242024	10-Q 6/30/2024
3312024	4242024	10-Q 3/31/2024
12312023	1292024	10-K 12/31/2023
9302023	10232023	10-Q 9/30/2023
6302023	7242023	10-Q 6/30/2023
3312023	4242023	10-Q 3/31/2023
12312022	1312023	10-K 12/31/2022
9302022	10242022	10-Q 9/30/2022
6302022	7252022	10-Q 6/30/2022
3312022	4252022	10-Q 3/31/2022
12312021	2072022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Tesla (TSLA)

Market Price (12/23/2025): $490.07 | Market Cap: $1.6 TrilSector: Consumer Discretionary | Industry: Automobile Manufacturers

Tesla (TSLA)

Market Price (12/23/2025): $490.07Market Cap: $1.6 TrilSector: Consumer DiscretionaryIndustry: Automobile Manufacturers

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

TSLA Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

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In The Past

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About Tesla (TSLA)

Tesla's Addressable Markets for Main Products and Services

Electric Vehicles (EVs)

Energy Storage (e.g., Powerwall, Megapack)

Solar (e.g., Solar Panels, Solar Roof)

Interactive Breakdown

Better Bets than Tesla (TSLA)

INDUSTRY: Automobile Manufacturers

Higher Rev Chg 3Y Avg | Lower P/S (Values for TSLA: 9.3% | 16.5x)

Higher Rev Chg LTM (Value for TSLA: -1.6%)

Higher Rev Chg 3Y Avg (Value for TSLA: 9.3%)

Higher CFO/Rev LTM (Value for TSLA: 16.5%)

Higher Total Yield (Value for TSLA: 0.3%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for TSLA: 9.3% | 16.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TSLA: 9.3% | 324.0x)

Higher Rev Chg LTM (Value for TSLA: -1.6%)

Higher Rev Chg 3Y Avg (Value for TSLA: 9.3%)

Higher Op Mgn LTM (Value for TSLA: 5.1%)

Higher CFO/Rev LTM (Value for TSLA: 16.5%)

Higher FCF/Rev LTM (Value for TSLA: 7.1%)

Higher Total Yield (Value for TSLA: 0.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TSLA: 9.3% | 16.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TSLA: 9.3% | 324.0x)

Higher Rev Chg LTM (Value for TSLA: -1.6%)

Higher Rev Chg 3Y Avg (Value for TSLA: 9.3%)

Higher Op Mgn LTM (Value for TSLA: 5.1%)

Higher CFO/Rev LTM (Value for TSLA: 16.5%)

Higher FCF/Rev LTM (Value for TSLA: 7.1%)

Higher Total Yield (Value for TSLA: 0.3%)

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Market Price (12/23/2025): $490.07 | Market Cap: $1.6 Tril
Sector: Consumer Discretionary | Industry: Automobile Manufacturers

Market Price (12/23/2025): $490.07
Market Cap: $1.6 Tril
Sector: Consumer Discretionary
Industry: Automobile Manufacturers