Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Tesla Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) attributable to common stockholders 14,997 12,556 5,519 721 (862)
Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries (23) 31 125 141 87
Net noncash charges 530 5,849 5,186 4,897 3,529
Changes in operating assets and liabilities (2,248) (3,712) 667 184 (349)
Net cash provided by operating activities 13,256 14,724 11,497 5,943 2,405
Purchases of property and equipment excluding finance leases, net of sales (8,898) (7,158) (6,482) (3,157) (1,327)
Purchase of intangible assets (9) (10) (5)
Proceeds from issuances of debt 3,931 8,883 9,713 10,669
Repayments of debt (1,351) (3,364) (14,167) (11,623) (9,161)
Collateralized lease repayments (9) (240) (389)
Principal payments on finance leases (464) (502) (439) (338) (321)
Debt issuance costs (29) (9) (6) (37)
Purchase of convertible note hedges (476)
Free cash flow to equity (FCFE) 6,445 3,691 (726) 282 1,358

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Tesla Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Tesla Inc. FCFE increased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Tesla Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 3,184,790,415
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 6,445
FCFE per share 2.02
Current share price (P) 179.83
Valuation Ratio
P/FCFE 88.86
Benchmarks
P/FCFE, Competitors1
Ford Motor Co. 3.50
General Motors Co. 3.32
P/FCFE, Sector
Automobiles & Components 18.39
P/FCFE, Industry
Consumer Discretionary 33.60

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

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Tesla Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
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
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 6,445 3,691 (726) 282 1,358
FCFE per share3 2.02 1.17 -0.23 0.10 0.50
Share price1, 4 190.93 173.22 302.45 287.81 53.60
Valuation Ratio
P/FCFE5 94.35 148.49 2,938.89 107.36
Benchmarks
P/FCFE, Competitors6
Ford Motor Co. 3.43 10.02 2.12 3.39
General Motors Co. 2.84 3.50 9.87 5.04 27.87
P/FCFE, Sector
Automobiles & Components 19.12 26.63 25.38 17.76
P/FCFE, Industry
Consumer Discretionary 32.05 38.34 85.76 30.50 28.80

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 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 6,445,000,000 ÷ 3,184,790,415 = 2.02

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

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 190.93 ÷ 2.02 = 94.35

6 Click competitor name to see calculations.