Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Common Stock Valuation Ratios (Price Multiples)

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Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Current Valuation Ratios

Tesla Inc., current price multiples

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Tesla Inc. Ford Motor Co. General Motors Co. Automobiles & Components Consumer Discretionary
Selected Financial Data
Current share price (P) $248.50
No. shares of common stock outstanding 3,189,196,167
Growth rate (g) 17.14%
 
Earnings per share (EPS) $4.70
Next year expected EPS $5.51
Operating profit per share $2.79
Sales per share $30.34
Book value per share (BVPS) $19.64
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 52.84 13.30 5.68 30.89 36.72
Price to next year expected earnings 45.11 4.97 27.77 30.20
Price-earnings-growth (PEG) 3.08 0.39 2.75 1.70
Price to operating profit (P/OP) 89.14 10.59 6.12 38.37 31.87
Price to sales (P/S) 8.19 0.35 0.36 2.16 2.89
Price to book value (P/BV) 12.65 1.35 0.89 5.35 11.16

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

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Tesla Inc., historical price multiples

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Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Price to earnings (P/E) 40.55 43.65 169.91 1,149.47
Price to operating profit (P/OP) 68.39 40.14 143.76 415.63
Price to sales (P/S) 6.28 6.73 17.42 26.28 5.93
Price to book value (P/BV) 9.71 12.26 31.06 37.29 22.03

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Tesla Inc. P/E ratio decreased from 2021 to 2022 and from 2022 to 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Tesla Inc. P/OP ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Tesla Inc. P/S ratio decreased from 2021 to 2022 and from 2022 to 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Tesla Inc. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.

Price to Earnings (P/E)

Tesla Inc., historical P/E 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$)
Net income (loss) attributable to common stockholders (in millions) 14,997 12,556 5,519 721 (862)
Earnings per share (EPS)2 4.71 3.97 1.78 0.25 -0.32
Share price1, 3 190.93 173.22 302.45 287.81 53.60
Valuation Ratio
P/E ratio4 40.55 43.65 169.91 1,149.47
Benchmarks
P/E Ratio, Competitors5
Ford Motor Co. 11.70 4.01 701.03
General Motors Co. 4.39 6.15 7.90 12.66 7.61
P/E Ratio, Sector
Automobiles & Components 23.94 33.64 32.66 167.63 39.68
P/E Ratio, Industry
Consumer Discretionary 33.22 45.12 38.95 72.79 39.89

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 2023 Calculation
EPS = Net income (loss) attributable to common stockholders ÷ No. shares of common stock outstanding
= 14,997,000,000 ÷ 3,184,790,415 = 4.71

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

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 190.93 ÷ 4.71 = 40.55

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Tesla Inc. P/E ratio decreased from 2021 to 2022 and from 2022 to 2023.

Price to Operating Profit (P/OP)

Tesla Inc., historical P/OP 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$)
Income (loss) from operations (in millions) 8,891 13,656 6,523 1,994 (69)
Operating profit per share2 2.79 4.32 2.10 0.69 -0.03
Share price1, 3 190.93 173.22 302.45 287.81 53.60
Valuation Ratio
P/OP ratio4 68.39 40.14 143.76 415.63
Benchmarks
P/OP Ratio, Competitors5
Ford Motor Co. 9.32 8.40 15.90 57.40
General Motors Co. 4.74 5.32 8.34 11.92 9.13
P/OP Ratio, Sector
Automobiles & Components 29.73 21.68 53.38 225.98 38.22
P/OP Ratio, Industry
Consumer Discretionary 28.83 26.92 40.71 58.48 30.81

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 2023 Calculation
Operating profit per share = Income (loss) from operations ÷ No. shares of common stock outstanding
= 8,891,000,000 ÷ 3,184,790,415 = 2.79

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

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 190.93 ÷ 2.79 = 68.39

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Tesla Inc. P/OP ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Price to Sales (P/S)

Tesla Inc., historical P/S 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$)
Revenues (in millions) 96,773 81,462 53,823 31,536 24,578
Sales per share2 30.39 25.75 17.36 10.95 9.04
Share price1, 3 190.93 173.22 302.45 287.81 53.60
Valuation Ratio
P/S ratio4 6.28 6.73 17.42 26.28 5.93
Benchmarks
P/S Ratio, Competitors5
Ford Motor Co. 0.31 0.35 0.57 0.39 0.23
General Motors Co. 0.28 0.38 0.68 0.73 0.41
P/S Ratio, Sector
Automobiles & Components 1.67 1.75 3.70 3.72 0.79
P/S Ratio, Industry
Consumer Discretionary 2.61 2.26 3.55 3.74 2.31

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 2023 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= 96,773,000,000 ÷ 3,184,790,415 = 30.39

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

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 190.93 ÷ 30.39 = 6.28

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Tesla Inc. P/S ratio decreased from 2021 to 2022 and from 2022 to 2023.

Price to Book Value (P/BV)

Tesla Inc., historical P/BV 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$)
Stockholders’ equity (in millions) 62,634 44,704 30,189 22,225 6,618
Book value per share (BVPS)2 19.67 14.13 9.74 7.72 2.43
Share price1, 3 190.93 173.22 302.45 287.81 53.60
Valuation Ratio
P/BV ratio4 9.71 12.26 31.06 37.29 22.03
Benchmarks
P/BV Ratio, Competitors5
Ford Motor Co. 1.19 1.22 1.48 1.49 0.99
General Motors Co. 0.69 0.81 1.30 1.76 1.20
P/BV Ratio, Sector
Automobiles & Components 4.14 4.21 7.85 9.74 2.80
P/BV Ratio, Industry
Consumer Discretionary 10.10 9.52 13.32 18.12 13.48

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 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 62,634,000,000 ÷ 3,184,790,415 = 19.67

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

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 190.93 ÷ 19.67 = 9.71

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Tesla Inc. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.