Price to Sales (P/S)
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Tesla Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2010
- Current Ratio since 2010
- Price to Earnings (P/E) since 2010
- Analysis of Revenues
- Aggregate Accruals
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Calculation
Tesla Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 30, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 31, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 7, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 3, 2011 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Tesla Inc. Annual Report.
- Share Price Trend
- The share price exhibited a generally upward trend over the examined period. It started at a low of $1.62 in 2011 and showed moderate growth until 2014, followed by some fluctuations between 2015 and 2019. From 2020 onwards, there was a significant surge, with the price peaking at $400.28 in 2025. Notable peaks include $287.81 in 2021 and $302.45 in 2022, indicating robust investor confidence during these years despite some volatility afterward.
- Sales per Share Trend
- Sales per share consistently increased throughout the period, rising from $0.08 in 2011 to approximately $30.37 by 2025. This steady growth indicates ongoing revenue expansion relative to the number of shares, with particularly rapid increases starting around 2014. The growth rate slowed somewhat in the last year, with sales per share remaining almost flat between 2024 and 2025.
- Price-to-Sales (P/S) Ratio Pattern
- The P/S ratio displayed significant variability across the timeline. Initially, it was high at 19.84 in 2011, decreased steadily to a low of 2.46 in 2019, suggesting that the stock price was less expensive relative to sales at that point. However, starting in 2020, the P/S ratio rose sharply, peaking again at 26.28 in 2021. Since then, it has generally trended downward but remains elevated compared to the period before 2020, indicating increased market valuation relative to sales despite strong sales growth.
- Interrelations and Insights
- The combination of rapid increases in both share price and sales per share from 2020 onwards suggests a period of substantial growth and investor optimism. The sharp rise in P/S ratio in 2021 implies that the market may have valued the company at a premium beyond the proportional increase in sales. The subsequent decline in P/S ratio, despite continued sales growth and high share prices, might reflect market adjustments or increased investor caution. Overall, the data suggests strong revenue growth with fluctuating but generally high investor valuations in recent years.
Comparison to Competitors
Tesla Inc., P/S, long-term trends, comparison to competitors
| Tesla Inc. | Ford Motor Co. | General Motors Co. | |
|---|---|---|---|
| Jan 30, 2025 | |||
| Jan 29, 2024 | |||
| Jan 31, 2023 | |||
| Feb 7, 2022 | |||
| Feb 8, 2021 | |||
| Feb 13, 2020 | |||
| Feb 19, 2019 | |||
| Feb 23, 2018 | |||
| Mar 1, 2017 | |||
| Feb 24, 2016 | |||
| Feb 26, 2015 | |||
| Feb 26, 2014 | |||
| Mar 7, 2013 | |||
| Feb 27, 2012 | |||
| Mar 3, 2011 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
Comparison to Sector (Automobiles & Components)
Tesla Inc., P/S, long-term trends, comparison to sector (automobiles & components)
| Tesla Inc. | Automobiles & Components | |
|---|---|---|
| Jan 30, 2025 | ||
| Jan 29, 2024 | ||
| Jan 31, 2023 | ||
| Feb 7, 2022 | ||
| Feb 8, 2021 | ||
| Feb 13, 2020 | ||
| Feb 19, 2019 | ||
| Feb 23, 2018 | ||
| Mar 1, 2017 | ||
| Feb 24, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Mar 7, 2013 | ||
| Feb 27, 2012 | ||
| Mar 3, 2011 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).
Comparison to Industry (Consumer Discretionary)
Tesla Inc., P/S, long-term trends, comparison to industry (consumer discretionary)
| Tesla Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 30, 2025 | ||
| Jan 29, 2024 | ||
| Jan 31, 2023 | ||
| Feb 7, 2022 | ||
| Feb 8, 2021 | ||
| Feb 13, 2020 | ||
| Feb 19, 2019 | ||
| Feb 23, 2018 | ||
| Mar 1, 2017 | ||
| Feb 24, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Mar 7, 2013 | ||
| Feb 27, 2012 | ||
| Mar 3, 2011 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).