Tesla Inc., current enterprise value calculation

Current share price (P)	$162.13
No. shares of common stock outstanding	3,189,196,167
US$ in millions
Common equity (market value)¹	517,064)
Add: Preferred stock; $0.001 par value; no shares issued and outstanding (per books)	—)
Add: Noncontrolling interests in subsidiaries (per books)	733)
Total equity	517,797)
Add: Current portion of debt and finance leases (per books)	2,373)
Add: Debt and finance leases, net of current portion (per books)	2,857)
Total equity and debt	523,027)
Less: Cash and cash equivalents	16,398)
Less: Short-term investments	12,696)
Enterprise value (EV)	493,933)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 162.13 × 3,189,196,167

Tesla Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$190.93	$173.22	$302.45	$287.81	$53.60
No. shares of common stock outstanding¹	3,184,790,415	3,164,102,701	3,100,522,833	2,879,560,512	2,720,123,790
US$ in millions
Common equity (market value)³	608,072)	548,086)	937,753)	828,766)	145,799)
Add: Preferred stock; $0.001 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests in subsidiaries (book value)	733)	785)	826)	850)	849)
Total equity	608,805)	548,871)	938,579)	829,616)	146,648)
Add: Current portion of debt and finance leases (book value)	2,373)	1,502)	1,589)	2,132)	1,785)
Add: Debt and finance leases, net of current portion (book value)	2,857)	1,597)	5,245)	9,556)	11,634)
Total equity and debt	614,035)	551,970)	945,413)	841,304)	160,067)
Less: Cash and cash equivalents	16,398)	16,253)	17,576)	19,384)	6,268)
Less: Short-term investments	12,696)	5,932)	131)	—)	—)
Enterprise value (EV)	584,941)	529,785)	927,706)	821,920)	153,799)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Tesla Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 190.93 × 3,184,790,415

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Tesla Inc. EV decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Tesla Inc. (NASDAQ:TSLA)

Enterprise Value (EV)