Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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- Enterprise Value to FCFF (EV/FCFF)
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- Selected Financial Data since 2010
- Net Profit Margin since 2010
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Liquidity Ratios (Summary)
Tesla Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Current Ratio
- The current ratio displays an overall rising trend throughout the periods, starting at 1.24 in March 2020 and reaching 2.00 by March 2025. Notably, there was a considerable increase between September 2020 (1.63) and December 2020 (1.88), followed by a slight dip during 2021, where the ratio decreased to approximately 1.38 by December 2021. From early 2022 onward, the ratio steadily increased again, surpassing the 2.00 mark in the early 2025 period, indicating improving liquidity and an enhanced ability to cover short-term liabilities with current assets.
- Quick Ratio
- The quick ratio also shows a general upward trend, moving from 0.78 in March 2020 to 1.37 in March 2025. The metric peaked in December 2020 at 1.49 before declining gradually to around 0.93 by early 2023. After this point, it recovered and steadily increased, reaching 1.42 in December 2024 and maintaining a similar level through the first quarter of 2025. This pattern suggests that, while the company experienced some constraints in liquid assets excluding inventories during 2021 and early 2022, it later strengthened its immediate liquidity position.
- Cash Ratio
- The cash ratio shows more volatility compared to the current and quick ratios, beginning at 0.67 in March 2020 and growing to 1.24 by March 2025. It climbed sharply to 1.36 in December 2020, then declined to a low point of 0.82 by March 2023. Afterward, the ratio gradually increased again, surpassing 1.0 during late 2023 and early 2024, and ultimately reaching 1.27 by March 2025. These fluctuations indicate varying levels of cash and cash equivalents, reflecting changes in the company’s cash management or operating cash flows over time.
Current Ratio
Tesla Inc., current ratio calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current assets | ||||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Current ratio1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Ford Motor Co. | ||||||||||||||||||||||||||||
| General Motors Co. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q1 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibited a general upward trend from March 31, 2020, through March 31, 2025. Starting at approximately $14.9 billion in early 2020, the amount steadily increased, reaching nearly $59.4 billion by the first quarter of 2025. Notably, the growth accelerated particularly after 2022, with sizable increments each quarter, reflecting an expanding asset base and improved liquidity position over the five-year span.
- Current Liabilities
- Current liabilities escalated consistently from around $12 billion in March 2020 to approximately $29.8 billion by March 2025. The increase was relatively steady with some fluctuations, notably peaking near the end of 2021 and again around mid-2022. While liabilities rose over the period, the growth rate was somewhat moderated compared to current assets, suggesting cautious management of short-term obligations in relation to asset growth.
- Current Ratio
- The current ratio started at a modest 1.24 in the first quarter of 2020, showing improvement and fluctuating between 1.24 and a high near 2.02 by early 2025. Initial quarters emphasized a strong upward movement, peaking at 1.88 at the end of 2020, followed by a moderate decline and stabilization between 1.35 and 1.73 for much of 2021 through 2023. From 2023 into 2025, the ratio progressively strengthened again, indicating an enhanced liquidity position and a greater buffer of current assets over liabilities, which supports short-term financial stability.
- Overall Insights
- The financial data reveals a positive liquidity trend, with current assets expanding more rapidly than current liabilities. The improvement in the current ratio over the examined quarters suggests an increasingly robust ability to meet short-term obligations. Fluctuations in the ratio correspond to varying growth rates in assets and liabilities, but the overarching pattern confirms strengthened financial resilience and optimized working capital management over time.
Quick Ratio
Tesla Inc., quick ratio calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | ||||||||||||||||||||||||||||
| Short-term investments | ||||||||||||||||||||||||||||
| Accounts receivable, net | ||||||||||||||||||||||||||||
| Total quick assets | ||||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Quick ratio1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Ford Motor Co. | ||||||||||||||||||||||||||||
| General Motors Co. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q1 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Quick Assets
-
Total quick assets show a significant upward trend over the observed period. Starting at $9,354 million in March 2020, they increased steadily, reaching a peak of $40,981 million by December 2024. There are no notable periods of decline, indicating continuous growth in liquid assets available for meeting short-term obligations. This steady increase suggests improving liquidity and asset accumulation strength over the years.
- Current Liabilities
-
Current liabilities similarly exhibit an upward trend throughout the periods but with a somewhat more fluctuating pattern. Beginning at $11,986 million in March 2020, current liabilities rose steadily to a high of $30,577 million by December 2024. Minor decreases are observed, for example, between June and September 2024, and again towards the end of the dataset, where liabilities dropped slightly from $30,577 million to $28,821 million before rising again.
Despite fluctuations, current liabilities are growing at a significant rate overall, indicating increased short-term obligations that may reflect expanded operational activities or financing needs.
- Quick Ratio
-
The quick ratio displays more variability throughout the timeframe. Initially, it was below 1.0 in early 2020 (0.78 in March), improving to a high of 1.49 by the end of 2020, indicating strong liquidity at that point. Following this peak, the ratio declined to around 0.93-0.96 during 2022 and early 2023, signaling a slight reduction in quick asset coverage relative to current liabilities.
From mid-2023 onwards, the quick ratio trends upward again, exceeding 1.0 in multiple quarters, reaching 1.42 in December 2024, the highest ratio in the entire period. This suggests a strengthening liquidity position, with quick assets increasingly surpassing current liabilities, which implies an improved ability to cover short-term liabilities without relying on inventory.
- Summary of Financial Position Trends
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Overall, the data reflects a company with steadily increasing liquid assets and rising current liabilities over the analyzed periods. The quick ratio analysis reveals fluctuating liquidity levels but demonstrates notable improvement in the latter stages. Despite growth in liabilities, the stronger increase in quick assets results in a gradually better liquidity profile toward the end of the series.
This suggests effective management of liquid resources and a sound approach to meeting short-term financial obligations. The stronger quick ratio combined with asset growth provides a positive view of the company's short-term financial health and ability to respond to obligations as they come due.
Cash Ratio
Tesla Inc., cash ratio calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | ||||||||||||||||||||||||||||
| Short-term investments | ||||||||||||||||||||||||||||
| Total cash assets | ||||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Cash ratio1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Ford Motor Co. | ||||||||||||||||||||||||||||
| General Motors Co. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q1 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets exhibit a substantial upward trend over the analyzed period. Starting at approximately 8,080 million USD in March 2020, the figure increases progressively with some minor fluctuations, reaching nearly 37,000 million USD by March 2025. This steady growth highlights an overall strengthening of liquidity and cash reserves.
- Current Liabilities
- Current liabilities also demonstrate a rising pattern from around 11,986 million USD in March 2020 to approximately 29,753 million USD in March 2025. Despite some short-term declines, the general direction is an increase in short-term obligations. This increase parallels the growth in total cash assets, indicating an expansion in both liabilities and liquidity.
- Cash Ratio
- The cash ratio, defined as total cash assets divided by current liabilities, shows considerable variability through the quarters. It started below 1.0 at 0.67 in March 2020, climbed to a peak of about 1.36 by December 2020, and then fluctuated below and above 1.0 in subsequent periods. After March 2023, the ratio consistently remains at or above 0.8, frequently exceeding 1.0, and ultimately reaches around 1.24 in March 2025. This progression suggests an improving capacity to cover current liabilities purely with cash and cash equivalents, reflecting solid liquidity management despite the rising short-term obligations.