Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Enterprise Value (EV) 

Microsoft Excel

Current Enterprise Value (EV)

Tesla Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $178.01
No. shares of common stock outstanding 3,189,196,167
US$ in millions
Common equity (market value)1 567,709
Add: Preferred stock; $0.001 par value; no shares issued and outstanding (per books)
Add: Noncontrolling interests in subsidiaries (per books) 733
Total equity 568,442
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 573,672
Less: Cash and cash equivalents 16,398
Less: Short-term investments 12,696
Enterprise value (EV) 544,578

Based on: 10-K (reporting date: 2023-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 178.01 × 3,189,196,167


Historical Enterprise Value (EV)

Tesla Inc., EV calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Share price1, 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

Based on: 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).

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

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.