Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Tesla Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net fixed asset turnover 3.46 2.85 2.47 2.36 1.89
Net fixed asset turnover (including operating lease, right-of-use asset) 3.12 2.58 2.20 2.12 1.89
Total asset turnover 0.99 0.87 0.60 0.72 0.72
Equity turnover 1.82 1.78 1.42 3.71 4.36

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Tesla Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Tesla Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Tesla Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Tesla Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Net Fixed Asset Turnover

Tesla Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Revenues 81,462 53,823 31,536 24,578 21,461
Property, plant and equipment, net 23,548 18,884 12,747 10,396 11,330
Long-term Activity Ratio
Net fixed asset turnover1 3.46 2.85 2.47 2.36 1.89
Benchmarks
Net Fixed Asset Turnover, Competitors2
Ford Motor Co. 4.00 3.40 3.13 3.94 4.10
General Motors Co. 3.18 2.76 2.89 3.17 3.43
Net Fixed Asset Turnover, Sector
Automobiles & Components 3.53 3.02 2.93 3.40 3.51
Net Fixed Asset Turnover, Industry
Consumer Discretionary 3.47 3.30 3.36 3.69 3.64

Based on: 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).

1 2022 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 81,462 ÷ 23,548 = 3.46

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Tesla Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Tesla Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Revenues 81,462 53,823 31,536 24,578 21,461
 
Property, plant and equipment, net 23,548 18,884 12,747 10,396 11,330
Operating lease right-of-use assets 2,563 2,016 1,558 1,218
Property, plant and equipment, net (including operating lease, right-of-use asset) 26,111 20,900 14,305 11,614 11,330
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.12 2.58 2.20 2.12 1.89
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Ford Motor Co. 3.85 3.28 3.02 3.79 4.10
General Motors Co. 3.11 2.69 2.81 3.08 3.43
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Automobiles & Components 3.37 2.89 2.80 3.26 3.51
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Discretionary 2.64 2.50 2.55 3.12 3.64

Based on: 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).

1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 81,462 ÷ 26,111 = 3.12

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Tesla Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.

Total Asset Turnover

Tesla Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Revenues 81,462 53,823 31,536 24,578 21,461
Total assets 82,338 62,131 52,148 34,309 29,740
Long-term Activity Ratio
Total asset turnover1 0.99 0.87 0.60 0.72 0.72
Benchmarks
Total Asset Turnover, Competitors2
Ford Motor Co. 0.58 0.49 0.43 0.56 0.58
General Motors Co. 0.55 0.46 0.46 0.54 0.59
Total Asset Turnover, Sector
Automobiles & Components 0.62 0.52 0.46 0.56 0.59
Total Asset Turnover, Industry
Consumer Discretionary 0.96 0.88 0.84 0.94 0.97

Based on: 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).

1 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 81,462 ÷ 82,338 = 0.99

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Tesla Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Equity Turnover

Tesla Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Revenues 81,462 53,823 31,536 24,578 21,461
Stockholders’ equity 44,704 30,189 22,225 6,618 4,923
Long-term Activity Ratio
Equity turnover1 1.82 1.78 1.42 3.71 4.36
Benchmarks
Equity Turnover, Competitors2
Ford Motor Co. 3.45 2.60 3.78 4.33 4.13
General Motors Co. 2.12 1.90 2.41 2.94 3.42
Equity Turnover, Sector
Automobiles & Components 2.40 2.12 2.61 3.56 3.80
Equity Turnover, Industry
Consumer Discretionary 4.33 3.82 4.94 6.02 5.72

Based on: 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).

1 2022 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity
= 81,462 ÷ 44,704 = 1.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Tesla Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.