Analysis of Investments
Paying user area
Try for free
Tesla Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Debt to Equity since 2010
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Tesla Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities
Tesla Inc., adjustment to net income attributable to common stockholders
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
- Net Income Attributable to Common Stockholders
- The reported net income exhibited a strong upward trend from 2020 through 2023, increasing significantly from 721 million US dollars in 2020 to a peak of 14,997 million US dollars in 2023. However, there was a notable decline in 2024, with the net income decreasing to 7,091 million US dollars, which is less than half of the previous year's figure.
- Adjusted Net Income Attributable to Common Stockholders
- The adjusted net income largely mirrors the pattern observed in the reported net income. It rose sharply from 721 million US dollars in 2020 to 15,013 million US dollars in 2023. In 2024, the adjusted net income dropped to 7,103 million US dollars, indicating a similar downward movement as seen in the reported figures.
- Comparative Insights
- The difference between reported and adjusted net income is minimal across all periods, suggesting that adjustments made to net income figures have a limited impact on the overall profitability reported. The consistent alignment between these two metrics indicates stability in accounting adjustments or non-operational items over the examined years.
- Overall Trend Analysis
- From 2020 to 2023, the company displayed robust profitability growth, with net income increasing almost twentyfold. However, in 2024, a substantial contraction in profitability occurred. This rapid decrease may warrant further investigation into underlying causes such as increased costs, market conditions, or extraordinary events affecting the company’s financial performance during that year.
Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)
Tesla Inc., adjusted profitability ratios
Based on: 10-K (reporting date: 2024-12-31), 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).
Over the analyzed period, the company’s profitability and efficiency metrics exhibit significant fluctuations with notable trends.
- Net Profit Margin
- The reported net profit margin started at 2.29% in 2020 and experienced a substantial increase through 2021 and 2022, peaking at 15.5% in 2023. However, in 2024, it declined sharply to 7.26%. The adjusted net profit margin follows a very similar pattern, indicating consistency between reported and adjusted figures. This suggests that after a period of strong profitability growth, margin contraction occurred in the latest year.
- Return on Equity (ROE)
- Reported ROE showed a marked improvement from 3.24% in 2020 to a peak of 28.09% in 2022, indicating enhanced returns to shareholders. In 2023, this metric slightly declined to 23.94%, followed by a more pronounced decrease to 9.73% in 2024. Adjusted ROE figures closely mirror the reported values, demonstrating stable adjustments over time. The trend reflects growing shareholder value for most of the period, with a notable downturn in the most recent year.
- Return on Assets (ROA)
- Reported ROA increased considerably from 1.38% in 2020 to 15.25% by 2022, signaling improved asset utilization and profitability. It remained relatively stable in 2023 at around 14%, but then dropped significantly to 5.81% in 2024. The adjusted ROA is nearly identical to the reported data, reinforcing the reliability of these observations. This trend indicates a period of rising asset efficiency, followed by a significant decline in the latest year.
Overall, the company demonstrated robust growth in profitability and returns through 2021 and 2022, with peak performance metrics reached in 2022 or 2023 depending on the indicator. However, 2024 displays a marked reversal, with all major ratios—net profit margin, ROE, and ROA—declining sharply. The close alignment between reported and adjusted figures throughout the period suggests the reported data accurately reflects underlying financial performance without significant distortion due to adjustments. This pattern may warrant further investigation into the causes of the recent performance downturn to inform strategic response.
Tesla Inc., Profitability Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2024-12-31), 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).
2024 Calculations
1 Net profit margin = 100 × Net income attributable to common stockholders ÷ Revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to common stockholders ÷ Revenues
= 100 × ÷ =
- Net Income Trends
- The reported net income attributable to common stockholders shows a significant upward trajectory from 2020 through 2023. Beginning at 721 million US dollars in 2020, it surged to 5519 million in 2021 and further to 12556 million in 2022. The growth continued into 2023, reaching a peak of 14997 million. However, in 2024, there is a notable decline to 7091 million, indicating a reversal in the previous growth trend.
- The adjusted net income figures closely mirror the reported data, suggesting minimal adjustments between reported and investment-adjusted values. The adjusted net income grew in a similar pattern from 721 million in 2020 to 15013 million in 2023 before declining to 7103 million in 2024.
- Net Profit Margin Analysis
- The reported net profit margin shows a steady and substantial improvement from 2020 to 2023. Starting at a modest 2.29% in 2020, it increased to 10.25% in 2021, then sharply rose to 15.41% in 2022 and slightly increased further to 15.5% in 2023. This improvement indicates enhanced profitability and efficiency in managing costs relative to revenue.
- Similar to net income, the net profit margin experienced a significant decline in 2024 to 7.26%, which may reflect changing market conditions, cost structures, or other operational challenges during the year.
- The adjusted net profit margin values correspond closely with the reported margins, confirming that the adjustments made do not substantially affect profitability ratios.
- Overall Insights
- Between 2020 and 2023, the data reflects a period of strong growth in both net income and profitability margins. The company demonstrated impressive increases in earnings and efficiency, culminating in peak figures in 2023. However, 2024 marks a clear downturn with net income dropping by more than half and profit margins decreasing by over half compared to the previous year. The close alignment between reported and adjusted figures throughout suggests consistent accounting and adjustments practices.
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2024-12-31), 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).
2024 Calculations
1 ROE = 100 × Net income attributable to common stockholders ÷ Stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to common stockholders ÷ Stockholders’ equity
= 100 × ÷ =
- Net Income Trends
- The reported net income attributable to common stockholders demonstrates a significant upward trend from 2020 through 2023, increasing from $721 million in 2020 to a peak of $14,997 million in 2023. However, in 2024, there is a notable decline to $7,091 million, which represents a substantial decrease compared to the previous year but remains considerably higher than the 2020 figure. The adjusted net income follows a very similar pattern, with its values closely aligned to the reported figures, indicating that adjustments for investments do not materially alter the profitability trend over the given periods.
- Return on Equity (ROE) Trends
- The reported ROE shows a sharp improvement from 3.24% in 2020 to 28.09% in 2022, followed by a slight decrease to 23.94% in 2023. In 2024, ROE declines significantly to 9.73%, which signifies a marked reduction in profitability relative to equity during the most recent period. The adjusted ROE closely mirrors the reported ROE, highlighting consistency in the return on equity measures irrespective of investment adjustments.
- Overall Financial Insights
- The data indicates a period of strong growth in both net income and return on equity from 2020 to 2023, reflecting enhanced profitability and efficient use of equity capital during these years. However, the observed declines in both metrics in 2024 suggest challenges in maintaining prior growth momentum and profitability levels. The close alignment between reported and adjusted figures suggests that investment adjustments have minimal impact on the company's core earnings and equity returns.
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2024-12-31), 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).
2024 Calculations
1 ROA = 100 × Net income attributable to common stockholders ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to common stockholders ÷ Total assets
= 100 × ÷ =
- Net Income Trends
- The reported net income attributable to common stockholders showed significant growth from 721 million US dollars in 2020 to a peak of 14,997 million US dollars in 2023. However, there was a notable decline in 2024, with net income dropping to 7,091 million US dollars. The adjusted net income values closely follow the reported figures, indicating minimal adjustments and consistency in reported earnings.
- Return on Assets (ROA) Trends
- The reported ROA experienced a substantial increase from 1.38% in 2020 to a high of 15.25% in 2022, followed by a slight decrease to 14.07% in 2023. In 2024, ROA reduced more sharply to 5.81%. Adjusted ROA mirrored the reported ROA values closely throughout the period, confirming the reliability of the asset efficiency measures presented.
- General Observations
- The data indicates a strong performance trajectory in both profitability and asset utilization from 2020 through 2023, culminating in peak values in 2022 and 2023. The decline in 2024 in both net income and ROA suggests a period of reduced profitability and less efficient use of assets compared to the previous years. The alignment between reported and adjusted figures suggests consistency and minimal financial adjustments.