Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

$24.99

Total Asset Turnover
since 2010

Microsoft Excel

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Calculation

Tesla Inc., total asset turnover, 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$ in millions


The analysis of the financial data over the period from 2010 to 2024 reveals notable trends in revenues, total assets, and total asset turnover.

Revenue Growth
Revenues exhibit a significant upward trajectory throughout the reviewed period, starting from US$117 million in 2010 and increasing substantially to approximately US$97.7 billion in 2024. The growth is particularly pronounced after 2012, with revenues accelerating from US$413 million that year to US$81.5 billion in 2021, indicating rapid expansion. The pace of revenue growth slows somewhat between 2023 and 2024 but remains at a high level.
Total Assets
Total assets have increased markedly from US$386 million in 2010 to US$122.1 billion in 2024, reflecting substantial capital accumulation and asset base expansion. The asset growth follows a generally steady upward trend, with notable large expansions between 2015 and 2017, and continuing strong increases thereafter. This pattern demonstrates significant investment and capacity building consistent with the revenue growth.
Total Asset Turnover Ratio
The total asset turnover ratio, which reflects how efficiently assets are used to generate revenues, fluctuates over the period. Initially, it hovers around 0.3 to 0.37 until 2012, then rises sharply to 0.83 in 2013, indicating improved asset utilization. However, it dips again to around 0.3 in 2016, suggesting a reduction in efficiency or asset-heavy expansion. From 2017 onward, the ratio generally trends upward, reaching a peak near 0.99 in 2022, indicating a strong rebound in asset efficiency. The ratio slightly declines to 0.8 by 2024, which still represents relatively strong utilization compared to earlier years.
Summary of Observations
The company demonstrates robust revenue and asset growth over the 15-year span, indicative of aggressive expansion and scaling. The fluctuations in asset turnover suggest phases of investment where asset growth outpaces immediate revenue benefits, followed by periods of improved efficiency in asset use. Toward the end of the period, the combination of high revenues, expanded asset base, and relatively high asset turnover ratio reflects a maturing phase with strengthened operational efficiency.

Comparison to Competitors

Tesla Inc., total asset turnover, long-term trends, comparison to competitors

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 Sector (Automobiles & Components)

Tesla Inc., total asset turnover, 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., total asset turnover, 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).