Enterprise Value (EV)
Current Enterprise Value (EV)
Tesla Inc., current enterprise value calculation
| Current share price (P) | $340.47 |
| No. shares of common stock outstanding | 3,220,956,211 |
| US$ in millions | |
| Common equity (market value)1 | 1,096,639) |
| Add: Preferred stock; $0.001 par value; no shares issued and outstanding (per books) | —) |
| Add: Noncontrolling interests in subsidiaries (per books) | 704) |
| Total equity | 1,097,343) |
| Add: Current portion of debt and finance leases (per books) | 2,456) |
| Add: Debt and finance leases, net of current portion (per books) | 5,757) |
| Total equity and debt | 1,105,556) |
| Less: Cash and cash equivalents | 16,139) |
| Less: Short-term investments | 20,424) |
| Enterprise value (EV) | 1,068,993) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 340.47 × 3,220,956,211
Historical Enterprise Value (EV)
Tesla Inc., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Tesla Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 400.28 × 3,216,517,037
The financial data reveals several notable trends across the periods evaluated. Common equity (market value) experienced growth from 2020 to 2021, increasing from approximately 829 billion US dollars to approximately 938 billion. However, a significant decline is observed in 2022, where common equity dropped to about 548 billion. Following this decrease, a gradual recovery is evident in 2023, with the value rising to roughly 608 billion, and a substantial increase is projected for 2024, reaching nearly 1.29 trillion.
Total equity mirrors the pattern seen in common equity, starting at approximately 830 billion in 2020 and rising to approximately 939 billion in 2021. It then declines sharply to around 549 billion in 2022 before gradually increasing to approximately 609 billion in 2023, and subsequently surging to around 1.29 trillion in 2024. This close correlation indicates consistency between market value and accounting value interpretations of equity.
Regarding total equity and debt combined, this metric follows a similar trajectory, rising from roughly 841 billion in 2020 to approximately 945 billion in 2021, then dropping significantly to about 552 billion in 2022. It shows a slight increase to 614 billion in 2023, with a notable jump to nearly 1.30 trillion projected for 2024. This suggests a proportionate increase in the company’s capital structure from 2023 to 2024.
The enterprise value (EV) also exhibits comparable trends, beginning at approximately 822 billion in 2020 and increasing to about 928 billion in 2021. A pronounced reduction occurs in 2022, bringing the EV down to around 530 billion. A moderate increase is evident in 2023 to approximately 585 billion, followed by a significant surge projected in 2024 to nearly 1.26 trillion.
Overall, the data depicts an initial growth phase up to 2021 across all key financial metrics, followed by a marked contraction in 2022. This contraction is succeeded by a recovery phase extending into 2023, and a strong growth projection in 2024. The coherence across common equity, total equity, combined equity and debt, and enterprise value suggests these components move in tandem, reflecting shifts in valuation and capital structure over the period analyzed.