Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

$24.99

Price to Sales (P/S)
since 2010

Microsoft Excel

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Calculation

Tesla Inc., P/S, long-term trends, calculation

Microsoft Excel

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


Comparison to Sector (Automobiles & Components)

Tesla Inc., P/S, long-term trends, comparison to sector (automobiles & components)

Microsoft Excel

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)

Microsoft Excel

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).