- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Tesla Inc. current increased from 2021 to 2022 and from 2022 to 2023. |
Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Tesla Inc. deferred decreased from 2021 to 2022 and from 2022 to 2023. |
Provision for (benefit from) income taxes | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Tesla Inc. provision for (benefit from) income taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Effective Income Tax Rate (EITR)
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Statutory federal tax rate | 21.00% | 21.00% | 21.00% | 21.00% | 21.00% | |
Effective tax rate | -50.15% | 8.25% | 11.02% | 25.30% | -16.54% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
Effective tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Tesla Inc. effective tax rate decreased from 2021 to 2022 and from 2022 to 2023. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Tesla Inc. deferred tax assets decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
Deferred tax assets, net of valuation allowance | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Tesla Inc. deferred tax assets, net of valuation allowance increased from 2021 to 2022 and from 2022 to 2023. |
Deferred tax assets (liabilities), net of valuation allowance | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Tesla Inc. deferred tax assets (liabilities), net of valuation allowance increased from 2021 to 2022 and from 2022 to 2023. |
Deferred Tax Assets and Liabilities, Classification
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Deferred tax assets | 6,733) | 328) | 89) | 67) | 31) | |
Deferred tax liabilities | 81) | 82) | 24) | 151) | 66) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Tesla Inc. deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
Deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Tesla Inc. deferred tax liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Tesla Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Tesla Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Tesla Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Tesla Inc. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Tesla Inc. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Tesla Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Tesla Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Net profit margin = 100 × Net income (loss) attributable to common stockholders ÷ Revenues
= 100 × 14,997 ÷ 96,773 = 15.50%
2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Revenues
= 100 × 8,648 ÷ 96,773 = 8.94%
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Tesla Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= 96,773 ÷ 106,618 = 0.91
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 96,773 ÷ 99,885 = 0.97
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Tesla Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= 106,618 ÷ 62,634 = 1.70
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 99,885 ÷ 55,982 = 1.78
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Tesla Inc. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 ROE = 100 × Net income (loss) attributable to common stockholders ÷ Stockholders’ equity
= 100 × 14,997 ÷ 62,634 = 23.94%
2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Adjusted stockholders’ equity
= 100 × 8,648 ÷ 55,982 = 15.45%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Tesla Inc. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 ROA = 100 × Net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 14,997 ÷ 106,618 = 14.07%
2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Adjusted total assets
= 100 × 8,648 ÷ 99,885 = 8.66%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Tesla Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |