| Tesla Inc |
| TSLA 88160R101 B616C79 NASDAQ Common stock |
| Source: FactSet Fundamentals |
| | DEC '19 | DEC '18 | DEC '17 | DEC '16 | DEC '15 | DEC '14 | DEC '13 | DEC '12 | DEC '11 | DEC '10 |
| | 365 Days | 365 Days | 365 Days | 366 Days | 365 Days | 365 Days | 365 Days | 366 Days | 365 Days | 365 Days |
| Profitability (%) |
| Gross Margin | 16.56 | 18.83 | 18.85 | 22.20 | 22.82 | 27.57 | 22.66 | 7.28 | 30.16 | 26.32 |
| SG&A to Sales | 16.23 | 20.01 | 32.78 | 32.07 | 41.99 | 34.46 | 25.70 | 102.68 | 153.29 | 152.10 |
| Operating Margin | 0.33 | -1.18 | -13.93 | -9.86 | -19.16 | -6.89 | -3.04 | -95.41 | -123.13 | -125.78 |
| Pretax Margin | -2.71 | -4.68 | -18.79 | -10.66 | -23.09 | -9.96 | -3.55 | -95.84 | -124.32 | -132.05 |
| Net Margin | -3.51 | -4.55 | -16.68 | -9.64 | -21.96 | -9.19 | -3.68 | -95.88 | -124.56 | -132.19 |
| Free Cash Flow Margin | 3.96 | -1.03 | -35.22 | -22.35 | -53.37 | -32.12 | -0.31 | -122.28 | -152.89 | -199.78 |
| Return on Assets (%) | -2.69 | -3.34 | -7.64 | -4.39 | -12.75 | -7.11 | -4.19 | -43.36 | -46.28 | -59.76 |
| Return on Equity (%) | -14.94 | -21.31 | -43.63 | -23.11 | -88.84 | -37.25 | -18.69 | -227.22 | -118.03 | -113.16 |
| Return on Common Equity | -14.94 | -21.31 | -43.63 | -23.11 | -88.84 | -37.25 | -18.69 | -227.22 | -118.03 | - |
| Return on Total Capital | 0.37 | -1.33 | -10.15 | -7.46 | -20.95 | -9.45 | -6.57 | -71.98 | -64.17 | -84.77 |
| Return on Invested Capital | -4.89 | -6.21 | -14.25 | -8.70 | -28.97 | -14.60 | -8.21 | -76.83 | -65.69 | -89.24 |
| Cash Flow Return on Invested Capital | 13.63 | 13.35 | -0.44 | -1.60 | -17.10 | -2.85 | 28.63 | -51.60 | -29.53 | -73.91 |
| Valuation (x) |
| Price/Sales | 3.01 | 2.64 | 4.39 | 4.40 | 7.60 | 8.66 | 8.92 | 8.80 | 14.04 | 21.65 |
| Price/Earnings | -85.90 | -58.14 | -26.32 | -45.66 | -34.63 | -94.24 | -242.63 | -9.18 | -11.29 | -16.34 |
| Price/Book Value | 11.44 | 11.67 | 12.40 | 7.26 | 28.97 | 30.66 | 27.76 | 31.02 | 13.32 | 12.21 |
| Price/Tangible Book Value | 12.45 | 12.56 | 13.77 | 7.89 | 28.97 | 30.66 | 28.35 | 35.03 | 13.32 | 12.21 |
| Price/Cash Flow | 30.79 | 27.05 | -850.87 | -248.86 | -58.67 | -483.09 | 69.63 | -13.66 | -25.07 | -19.77 |
| Price/Free Cash Flow | 76.10 | -255.96 | -12.46 | -19.70 | -14.25 | -26.96 | -2,883.54 | -7.20 | -9.18 | -10.84 |
| Enterprise Value/EBIT | 1,067.41 | -272.04 | -38.20 | -59.04 | -42.88 | -129.32 | -298.20 | -10.43 | -11.78 | -16.53 |
| Enterprise Value/EBITDA | 38.22 | 41.73 | -37,170.31 | 158.91 | -94.27 | 2,491.94 | 407.91 | -11.26 | -12.63 | -17.82 |
| Enterprise Value/Sales | 3.47 | 3.20 | 5.32 | 5.82 | 8.22 | 8.91 | 9.08 | 9.96 | 14.50 | 20.79 |
| Total Debt/Enterprise Value | 0.17 | 0.20 | 0.19 | 0.21 | 0.09 | 0.09 | 0.03 | 0.11 | 0.09 | 0.03 |
| Per Share |
| Sales per Share | 138.86 | 125.85 | 70.94 | 48.54 | 31.56 | 25.68 | 16.86 | 3.85 | 2.03 | 1.23 |
| EBIT (Operating Income) per Share | 0.45 | -1.48 | -9.88 | -4.79 | -6.05 | -1.77 | -0.51 | -3.67 | -2.51 | -1.55 |
| EPS (recurring) | -4.12 | -5.26 | -11.86 | -5.04 | -6.93 | -2.36 | -0.62 | -3.68 | -2.51 | -1.63 |
| EPS (diluted) | -4.87 | -5.72 | -11.83 | -4.68 | -6.93 | -2.36 | -0.62 | -3.69 | -2.53 | -1.63 |
| Book Value per Share | 36.56 | 28.52 | 25.10 | 29.42 | 8.29 | 7.25 | 5.42 | 1.09 | 2.14 | 2.18 |
| Tangible Book Value per Share | 33.60 | 26.49 | 22.60 | 27.09 | 8.29 | 7.25 | 5.31 | 0.97 | 2.14 | 2.18 |
| Cash Flow per Share | 13.59 | 12.30 | -0.37 | -0.86 | -4.09 | -0.46 | 2.16 | -2.48 | -1.14 | -1.35 |
| Free Cash Flow per Share | 5.50 | -1.30 | -24.99 | -10.85 | -16.84 | -8.25 | -0.05 | -4.71 | -3.11 | -2.46 |
| Diluted Shares Outstanding | 177.00 | 170.53 | 165.76 | 144.21 | 128.20 | 124.54 | 119.42 | 107.35 | 100.39 | 94.91 |
| Basic Shares Outstanding | 177.00 | 170.53 | 165.76 | 144.21 | 128.20 | 124.54 | 119.42 | 107.35 | 100.39 | 94.91 |
| Total Shares Outstanding | 181.00 | 172.60 | 168.80 | 161.56 | 131.43 | 125.69 | 123.09 | 114.21 | 104.53 | 94.91 |
| Asset Turnover Analysis (x) |
| Cash & ST Investments | 4.73 | 5.80 | 3.35 | 2.97 | 2.57 | 2.31 | 3.76 | 1.57 | 0.86 | 0.96 |
| Receivables | 21.63 | 29.31 | 23.18 | 20.96 | 20.46 | 23.20 | 53.02 | 22.72 | 25.14 | 22.90 |
| Inventories | 6.15 | 6.48 | 4.41 | 3.26 | 2.80 | 3.58 | 5.12 | 2.41 | 2.99 | 2.51 |
| Current Assets | 2.41 | 2.89 | 1.83 | 1.55 | 1.35 | 1.43 | 2.25 | 0.92 | 0.67 | 0.69 |
| Fixed Assets | 1.23 | 1.07 | 0.66 | 0.69 | 1.04 | 1.72 | 2.39 | 0.95 | 0.94 | 1.60 |
| Total Assets | 0.77 | 0.74 | 0.46 | 0.46 | 0.58 | 0.77 | 1.14 | 0.45 | 0.37 | 0.45 |
| DuPont Analysis |
| Asset Turnover (x) | 0.77 | 0.74 | 0.46 | 0.46 | 0.58 | 0.77 | 1.14 | 0.45 | 0.37 | 0.45 |
| x Pretax Margin (%) | -2.71 | -4.68 | -18.79 | -10.66 | -23.09 | -9.96 | -3.55 | -95.84 | -124.32 | -132.05 |
| = Pretax Return on Assets (%) | -2.08 | -3.44 | -8.61 | -4.85 | -13.40 | -7.70 | -4.05 | -43.34 | -46.19 | -59.69 |
| = Return on Assets (%) | -2.69 | -3.34 | -7.64 | -4.39 | -12.75 | -7.11 | -4.19 | -43.36 | -46.28 | -59.76 |
| x Equity Multiplier (Assets/Equity) | 5.55 | 6.37 | 5.71 | 5.26 | 6.97 | 5.24 | 4.46 | 5.24 | 2.55 | 1.89 |
| = Return on Equity (%) | -14.94 | -21.31 | -43.63 | -23.11 | -88.84 | -37.25 | -18.69 | -227.22 | -118.03 | -113.16 |
| = Reinvestment Rate (%) | -14.94 | -21.31 | -43.63 | -23.11 | -88.84 | -37.25 | -18.69 | -227.22 | -118.03 | -113.16 |
| Note: EBIT Return on Assets (%) | 0.25 | -0.87 | -6.38 | -4.49 | -11.12 | -5.33 | -3.47 | -43.15 | -45.74 | -56.86 |
| Note: Interest as % Assets | 2.00 | 2.23 | 1.64 | 0.88 | 1.47 | 1.72 | 0.92 | 0.02 | 0.01 | 0.26 |
| Operating Efficiency (x) |
| Revenue/Employee (actual) | 511,871 | 439,627 | 313,208 | 233,143 | 309,850 | 314,768 | 343,659 | 139,425 | 144,137 | 129,860 |
| Net Income/Employee (actual) | -17,952 | -19,995 | -52,244 | -22,478 | -68,055 | -28,938 | -12,633 | -133,675 | -179,542 | -171,666 |
| Assets/Employee (actual) | 714,533 | 609,206 | 763,268 | 754,840 | 619,732 | 575,657 | 412,516 | 375,908 | 503,492 | 429,457 |
| Receivables Turnover (x) | 21.63 | 29.31 | 23.18 | 20.96 | 20.46 | 23.20 | 53.02 | 22.72 | 25.14 | 22.90 |
| Inventory Turnover (x) | 6.15 | 6.48 | 4.41 | 3.26 | 2.80 | 3.58 | 5.12 | 2.41 | 2.99 | 2.51 |
| Payables Turnover (x) | 5.84 | 6.31 | 4.58 | 4.49 | 4.07 | 5.42 | 5.36 | 3.35 | 3.47 | 4.90 |
| Asset Turnover (x) | 0.77 | 0.74 | 0.46 | 0.46 | 0.58 | 0.77 | 1.14 | 0.45 | 0.37 | 0.45 |
| Working Capital Turnover (x) | 17.12 | - | - | 16.19 | - | 2.93 | 3.41 | - | 1.13 | 0.78 |
| Operating Cycle (Days) |
| Days of Inventory on Hand | 59.31 | 56.33 | 82.84 | 112.11 | 130.42 | 101.94 | 71.36 | 151.73 | 121.88 | 145.14 |
| + Days of Sales Outstanding | 16.88 | 12.45 | 15.75 | 17.42 | 17.84 | 15.73 | 6.88 | 16.07 | 14.52 | 15.94 |
| = Operating Cycle | 76.19 | 68.79 | 98.58 | 129.53 | 148.27 | 117.67 | 78.24 | 167.80 | 136.40 | 161.08 |
| - Days of Payables Outstanding | 62.51 | 57.89 | 79.66 | 81.26 | 89.70 | 67.39 | 68.04 | 109.06 | 105.25 | 74.43 |
| = Net Operating Cycle | 13.68 | 10.90 | 18.92 | 48.26 | 58.57 | 50.28 | 10.20 | 58.74 | 31.15 | 86.65 |
| Liquidity (%) |
| Current Ratio | 1.13 | 0.83 | 0.86 | 1.07 | 0.99 | 1.52 | 1.88 | 0.97 | 1.95 | 2.76 |
| Quick Ratio | 0.80 | 0.52 | 0.56 | 0.72 | 0.54 | 1.07 | 1.37 | 0.48 | 1.69 | 2.23 |
| Cash Ratio | 0.61 | 0.39 | 0.46 | 0.60 | 0.43 | 0.91 | 1.26 | 0.41 | 1.59 | 2.02 |
| Cash & ST Inv/Current Assets (%) | 53.82 | 46.69 | 53.62 | 55.90 | 43.69 | 60.14 | 67.06 | 42.11 | 81.48 | 73.41 |
| CFO/Current Liabilities (%) | 22.55 | 20.99 | -0.79 | -2.13 | -18.62 | -2.72 | 38.21 | -49.36 | -59.77 | -149.38 |
| Coverage (x) |
| Net Debt/EBITDA | 3.66 | 6.04 | -5,114.45 | 19.85 | -4.82 | 48.82 | -5.40 | -0.67 | 0.10 | 0.74 |
| Net Debt/(EBITDA-Capex) | 10.27 | -14.82 | -2.11 | -4.30 | -0.85 | -0.58 | 1.10 | -0.41 | 0.05 | 0.42 |
| Total Debt/EBITDA | 6.05 | 8.39 | - | 33.49 | - | 216.95 | 13.55 | - | - | - |
| EBIT/Interest Expense (Int. Coverage) | 0.11 | -0.35 | -2.75 | -2.81 | -4.83 | -1.94 | -2.39 | -50.20 | -48.90 | -81.94 |
| EBITDA/Interest Expense | 3.26 | 2.49 | -0.00 | 1.29 | -2.97 | 0.11 | 2.02 | -1,438.81 | -5,455.09 | -137.31 |
| Fixed-charge Coverage Ratio | 0.11 | -0.35 | -2.75 | -2.81 | -4.83 | -1.94 | -2.39 | -50.20 | -48.90 | -81.94 |
| CFO/Interest Expense | 3.51 | 3.16 | -0.13 | -0.62 | -4.41 | -0.57 | 11.66 | -1,047.56 | -2,659.63 | -128.85 |
| LT Debt/EBITDA | 5.65 | 6.74 | -6,626.31 | 28.79 | -6.48 | 161.70 | 13.37 | -1.13 | -1.16 | -0.53 |
| Net Debt/FFO | 2.97 | 4.88 | 19.74 | 8.93 | -54.43 | 2.80 | -1.46 | -0.80 | 0.12 | 0.86 |
| LT Debt/FFO | 4.58 | 5.45 | 25.58 | 12.96 | -73.17 | 9.27 | 3.61 | -1.33 | -1.33 | -0.62 |
| FCF/Total Debt | 0.07 | -0.02 | -0.34 | -0.18 | -0.74 | -0.41 | -0.01 | -1.08 | -1.11 | -3.21 |
| CFO/Total Debt | 0.16 | 0.15 | -0.01 | -0.01 | -0.18 | -0.02 | 0.43 | -0.57 | -0.41 | -1.76 |
| Leverage (%) |
| LT Debt/Total Equity | 190.80 | 225.79 | 263.19 | 155.40 | 209.72 | 202.94 | 89.79 | 329.96 | 121.03 | 34.93 |
| LT Debt/Total Capital | 59.24 | 59.28 | 68.13 | 55.35 | 56.99 | 54.51 | 47.02 | 69.58 | 53.78 | 25.86 |
| LT Debt/Total Assets | 36.80 | 37.38 | 38.92 | 32.59 | 28.22 | 31.63 | 24.78 | 36.93 | 38.01 | 18.73 |
| Total Debt/Total Assets | 42.84 | 46.49 | 42.33 | 37.91 | 36.06 | 42.44 | 25.11 | 41.88 | 39.27 | 18.81 |
| Net Debt/Total Equity | 123.65 | 202.08 | 203.14 | 107.16 | 155.99 | 61.28 | -36.28 | 197.02 | -10.56 | -48.56 |
| Total Debt/Equity | 222.08 | 280.86 | 286.29 | 180.77 | 267.98 | 272.27 | 90.97 | 374.23 | 125.04 | 35.07 |
| Net Debt/Total Capital | 38.39 | 53.06 | 52.59 | 38.17 | 42.39 | 16.46 | -19.00 | 41.54 | -4.69 | -35.96 |
| Total Debt/Total Capital | 68.95 | 73.74 | 74.11 | 64.38 | 72.82 | 73.14 | 47.64 | 78.91 | 55.56 | 25.96 |
| All figures in millions of U.S. Dollar except per share and labeled items. |
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TeslaRatios.xlsx
