Stock Analysis on Net
Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

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

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 3.01 3.26 3.46 3.56 3.45 3.46 3.41 3.18 3.11 2.85 2.71 2.67 2.59 2.47 2.38 2.34 2.45 2.36 — — —
Net fixed asset turnover (including operating lease, right-of-use asset) 2.65 2.85 3.06 3.16 3.10 3.12 3.10 2.89 2.80 2.58 2.43 2.41 2.32 2.20 2.13 2.09 2.20 2.12 — — —
Total asset turnover 0.87 0.91 1.02 1.04 0.99 0.99 1.01 0.98 0.94 0.87 0.81 0.76 0.68 0.60 0.62 0.67 0.70 0.72 — — —
Equity turnover 1.47 1.55 1.79 1.84 1.79 1.82 1.88 1.85 1.82 1.78 1.73 1.69 1.56 1.42 1.76 2.61 2.84 3.71 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
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) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Tesla Inc. total asset turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Tesla Inc. equity turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Net Fixed Asset Turnover

Tesla Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,301 25,167 23,350 24,927 23,329 24,318 21,454 16,934 18,756 17,719 13,757 11,958 10,389 10,744 8,771 6,036 5,985 7,384 6,303 6,350 4,541
Property, plant and equipment, net 31,436 29,725 27,744 26,389 24,969 23,548 21,926 21,093 20,027 18,884 17,298 15,665 13,868 12,747 11,848 11,009 10,638 10,396 10,190 10,082 9,851
Long-term Activity Ratio
Net fixed asset turnover1 3.01 3.26 3.46 3.56 3.45 3.46 3.41 3.18 3.11 2.85 2.71 2.67 2.59 2.47 2.38 2.34 2.45 2.36 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Ford Motor Co. — 4.06 4.18 4.17 4.11 4.00 4.01 3.84 3.41 3.40 3.39 3.42 3.25 3.13 3.31 3.36 3.90 3.94 — — —
General Motors Co. 3.12 3.13 3.20 3.26 3.15 3.18 3.14 2.84 2.81 2.76 2.96 3.24 2.87 2.89 2.75 2.74 3.18 3.17 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Net fixed asset turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Property, plant and equipment, net
= (21,301 + 25,167 + 23,350 + 24,927) ÷ 31,436 = 3.01

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 deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

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 (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,301 25,167 23,350 24,927 23,329 24,318 21,454 16,934 18,756 17,719 13,757 11,958 10,389 10,744 8,771 6,036 5,985 7,384 6,303 6,350 4,541
 
Property, plant and equipment, net 31,436 29,725 27,744 26,389 24,969 23,548 21,926 21,093 20,027 18,884 17,298 15,665 13,868 12,747 11,848 11,009 10,638 10,396 10,190 10,082 9,851
Operating lease right-of-use assets 4,367 4,180 3,637 3,352 2,800 2,563 2,251 2,185 2,181 2,016 1,962 1,734 1,647 1,558 1,375 1,274 1,197 1,218 1,234 1,248 1,253
Property, plant and equipment, net (including operating lease, right-of-use asset) 35,803 33,905 31,381 29,741 27,769 26,111 24,177 23,278 22,208 20,900 19,260 17,399 15,515 14,305 13,223 12,283 11,835 11,614 11,424 11,331 11,104
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 2.65 2.85 3.06 3.16 3.10 3.12 3.10 2.89 2.80 2.58 2.43 2.41 2.32 2.20 2.13 2.09 2.20 2.12 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (21,301 + 25,167 + 23,350 + 24,927) ÷ 35,803 = 2.65

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) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Total Asset Turnover

Tesla Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,301 25,167 23,350 24,927 23,329 24,318 21,454 16,934 18,756 17,719 13,757 11,958 10,389 10,744 8,771 6,036 5,985 7,384 6,303 6,350 4,541
Total assets 109,226 106,618 93,941 90,591 86,833 82,338 74,426 68,513 66,038 62,131 57,834 55,146 52,972 52,148 45,691 38,135 37,250 34,309 32,795 31,873 28,913
Long-term Activity Ratio
Total asset turnover1 0.87 0.91 1.02 1.04 0.99 0.99 1.01 0.98 0.94 0.87 0.81 0.76 0.68 0.60 0.62 0.67 0.70 0.72 — — —
Benchmarks
Total Asset Turnover, Competitors2
Ford Motor Co. — 0.61 0.61 0.60 0.61 0.58 0.58 0.56 0.49 0.49 0.49 0.51 0.45 0.43 0.46 0.44 0.52 0.56 — — —
General Motors Co. 0.58 0.58 0.56 0.57 0.55 0.55 0.52 0.47 0.47 0.46 0.49 0.52 0.46 0.46 0.42 0.43 0.49 0.54 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Total asset turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Total assets
= (21,301 + 25,167 + 23,350 + 24,927) ÷ 109,226 = 0.87

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 deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Equity Turnover

Tesla Inc., equity turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,301 25,167 23,350 24,927 23,329 24,318 21,454 16,934 18,756 17,719 13,757 11,958 10,389 10,744 8,771 6,036 5,985 7,384 6,303 6,350 4,541
Stockholders’ equity 64,378 62,634 53,466 51,130 48,054 44,704 39,851 36,376 34,085 30,189 27,053 24,804 23,017 22,225 16,031 9,855 9,173 6,618 6,040 5,715 4,606
Long-term Activity Ratio
Equity turnover1 1.47 1.55 1.79 1.84 1.79 1.82 1.88 1.85 1.82 1.78 1.73 1.69 1.56 1.42 1.76 2.61 2.84 3.71 — — —
Benchmarks
Equity Turnover, Competitors2
Ford Motor Co. — 3.88 3.71 3.67 3.68 3.45 3.39 3.14 2.78 2.60 3.39 3.63 3.49 3.78 3.60 3.85 4.65 4.33 — — —
General Motors Co. 2.41 2.45 2.12 2.18 2.12 2.12 2.06 1.86 1.89 1.90 2.17 2.44 2.25 2.41 2.35 2.58 3.01 2.94 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Equity turnover = (RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023) ÷ Stockholders’ equity
= (21,301 + 25,167 + 23,350 + 24,927) ÷ 64,378 = 1.47

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 deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.