Tesla (TSLA)
Consumer Discretionary · $1.48T market cap · SEC CIK 0001318605
fundamentals score out of 100
Next reports on Oct 20, 2026, after the close, with analysts expecting $0.45 in earnings per share.
The case for TSLA
- Holds more cash ($16.5B) than long-term debt ($6.6B).
- Revenue growing 11.8% year over year.
- Has compounded revenue at 24.6% a year over five years.
The case against
- Very expensive at 389.5× earnings. Years of growth are already in the price.
- Earnings per share down 37.7%.
- Priced at 14.3× sales, which leaves no room for a stumble.
- Return on equity of only 5%.
- Growth is slowing: revenue up 11.8% this year against 24.6% a year over five.
- The price trend is weak (36/100): -11.9% over a year, -6.3% over three months, 40% of the way up its 52-week range.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 10 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 58 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 26 |
| Momentumhow the price has behaved lately | 36 |
| Stabilityhow violently it moves, what it owes and what it pays you | 54 |
- Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.
Key numbers
| Price / earnings | 389.5× |
|---|---|
| Price / book | 18.19× |
| Price / sales | 14.3× |
| Revenue growth (YoY) | +11.8% |
| EPS growth (YoY) | -37.7% |
| Gross margin | 19% |
| Operating margin | 4% |
| Net margin | 4% |
| Return on equity | 5% |
| Debt / equity | 0.11× |
| Current ratio | 1.94 |
| Dividend yield | none |
| Beta | 1.75 |
| 52-week range | $297.38 – $498.83 |
| Position in that range | 40% of the way up |
| 3-month return | -6.3% |
| 1-year return | -11.9% |
Five years of financials, as filed
Pulled from Tesla's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $94.8B | $97.7B | $96.8B | $81.5B | $53.8B |
| Gross profit | $17.1B | $17.4B | $17.7B | $20.9B | $13.6B |
| Operating income | $4.4B | $7.1B | $8.9B | $13.7B | $6.5B |
| Net income | $3.8B | $7.1B | $15.0B | $12.6B | $5.5B |
| Operating cash flow | $14.7B | $14.9B | $13.3B | $14.7B | $11.5B |
| Capital expenditure | $8.5B | $11.3B | $8.9B | $7.2B | $6.5B |
| Total assets | $138B | $122B | $107B | $82.3B | $62.1B |
| Total liabilities | $54.9B | $48.4B | $43.0B | $36.4B | $30.5B |
| Shareholder equity | $82.1B | $72.9B | $62.6B | $44.7B | $30.2B |
| Cash | $16.5B | $16.1B | $16.4B | $16.3B | $17.6B |
| Long-term debt | $6.6B | $5.5B | $2.7B | $1.0B | $4.3B |
| Free cash flow | $6.2B | $3.6B | $4.4B | $7.6B | $5.0B |
| Gross margin | 18.0% | 17.9% | 18.2% | 25.6% | 25.3% |
| Operating margin | 4.6% | 7.2% | 9.2% | 16.8% | 12.1% |
| Net margin | 4.0% | 7.3% | 15.5% | 15.4% | 10.3% |
| Diluted shares | 3.5B | 3.5B | 3.5B | 3.5B | 3.4B |
Share count is up 4.2% over 4 years. Mild issuance.
What Tesla says it does
For discussion related to changes in financial condition and the results of operations for fiscal year 2024-related items, refer to Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for fiscal year 2024, which was filed with the SEC on January 30, 2025. Overview and 2025 Highlights We are focused on bringing artificial intelligence into the real world, through products and services like FSD (Supervised) and Robotaxi, as well as working to develop and commercialize AI robots (including Optimus). We intend to leverage our current operations, in which we design, develop, manufacture, sell and lease high-performance fully electric vehicles and energy generation and storage systems that increasingly deliver AI-related and enhanced software and services to our customers, to achieve that objective. As a result of rapidly evolving trade and fiscal policy,…
Risk factors TSLA lists in its 10-K
- Risks Related to Our Ability to Grow Our Business
- We may experience issues or delays in developing, launching and ramping the production of our products, services and features, or we may be unable to control our manufacturing costs
- Our suppliers may fail to deliver components according to schedules, prices, quality and volumes that are acceptable to us, or we may be unable to manage these components effectively
- We may be unable to grow our global product sales, delivery and installation capabilities and our servicing and vehicle charging networks, or we may be unable to accurately project and effectively manage our growth
- We will need to maintain and significantly grow our access to battery cells, including through the development and manufacture of our own cells, and control our related costs
- Our future growth and success are dependent upon demand for our electric vehicles and adoption of autonomous driving solutions
- We face strong competition for our products and services from a growing list of established and new competitors
- Growth of our business is also dependent upon our ability to develop and commercialize Bots, including Optimus, which is in a nascent industry that has yet to develop commercially
- We may experience issues with lithium-ion cells or other components manufactured at our Gigafactories, which may harm the production and profitability of our vehicle and energy storage products
- We face risks associated with maintaining and expanding our international operations, including unfavorable and uncertain regulatory, political, economic, tax and labor conditions
- Our business may suffer if our products or features contain defects, fail to perform as expected or take longer than expected to become fully functional
- We may be required to defend or insure against product liability claims
- We will need to maintain public credibility and confidence in our long-term business prospects in order to succeed
- We may be unable to effectively grow, or manage the compliance, residual value, financing and credit risks related to, our various financing programs