Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

Analysis of Solvency Ratios 

Microsoft Excel

Solvency Ratios (Summary)

Tesla Inc., solvency ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity 0.11 0.08 0.07 0.23 0.53
Debt to equity (including operating lease liability) 0.19 0.15 0.13 0.29 0.60
Debt to capital 0.10 0.08 0.06 0.18 0.34
Debt to capital (including operating lease liability) 0.16 0.13 0.11 0.23 0.37
Debt to assets 0.07 0.05 0.04 0.11 0.22
Debt to assets (including operating lease liability) 0.11 0.09 0.07 0.14 0.25
Financial leverage 1.67 1.70 1.84 2.06 2.35
Coverage Ratios
Interest coverage 26.69 64.93 72.83 18.10 2.54
Fixed charge coverage 5.86 8.62 14.87 7.36 1.96

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Tesla Inc. debt to equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Tesla Inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Tesla Inc. debt to capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Tesla Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Tesla Inc. debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Tesla Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Tesla Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Tesla Inc. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Tesla Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Equity

Tesla Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
 
Stockholders’ equity 72,913 62,634 44,704 30,189 22,225
Solvency Ratio
Debt to equity1 0.11 0.08 0.07 0.23 0.53
Benchmarks
Debt to Equity, Competitors2
Ford Motor Co. 3.54 3.49 3.21 2.85 5.27
General Motors Co. 2.06 1.89 1.69 1.83 2.44
Debt to Equity, Sector
Automobiles & Components 1.64 1.63 1.65 1.84 2.89
Debt to Equity, Industry
Consumer Discretionary 1.12 1.37 1.54 1.52 2.37

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 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 8,213 ÷ 72,913 = 0.11

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Tesla Inc. debt to equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Equity (including Operating Lease Liability)

Tesla Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
Operating lease liabilities, current portion 807 672 485 368 286
Operating lease liabilities, net of current portion 4,603 3,671 2,164 1,671 1,254
Total debt (including operating lease liability) 13,623 9,573 5,748 8,873 13,228
 
Stockholders’ equity 72,913 62,634 44,704 30,189 22,225
Solvency Ratio
Debt to equity (including operating lease liability)1 0.19 0.15 0.13 0.29 0.60
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Ford Motor Co. 3.59 3.53 3.25 2.87 5.31
General Motors Co. 2.08 1.91 1.71 1.85 2.47
Debt to Equity (including Operating Lease Liability), Sector
Automobiles & Components 1.69 1.67 1.68 1.87 2.93
Debt to Equity (including Operating Lease Liability), Industry
Consumer Discretionary 1.42 1.72 1.94 1.90 2.84

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 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 13,623 ÷ 72,913 = 0.19

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Tesla Inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Capital

Tesla Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
Stockholders’ equity 72,913 62,634 44,704 30,189 22,225
Total capital 81,126 67,864 47,803 37,023 33,913
Solvency Ratio
Debt to capital1 0.10 0.08 0.06 0.18 0.34
Benchmarks
Debt to Capital, Competitors2
Ford Motor Co. 0.78 0.78 0.76 0.74 0.84
General Motors Co. 0.67 0.65 0.63 0.65 0.71
Debt to Capital, Sector
Automobiles & Components 0.62 0.62 0.62 0.65 0.74
Debt to Capital, Industry
Consumer Discretionary 0.53 0.58 0.61 0.60 0.70

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 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,213 ÷ 81,126 = 0.10

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Tesla Inc. debt to capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Capital (including Operating Lease Liability)

Tesla Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
Operating lease liabilities, current portion 807 672 485 368 286
Operating lease liabilities, net of current portion 4,603 3,671 2,164 1,671 1,254
Total debt (including operating lease liability) 13,623 9,573 5,748 8,873 13,228
Stockholders’ equity 72,913 62,634 44,704 30,189 22,225
Total capital (including operating lease liability) 86,536 72,207 50,452 39,062 35,453
Solvency Ratio
Debt to capital (including operating lease liability)1 0.16 0.13 0.11 0.23 0.37
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Ford Motor Co. 0.78 0.78 0.76 0.74 0.84
General Motors Co. 0.67 0.66 0.63 0.65 0.71
Debt to Capital (including Operating Lease Liability), Sector
Automobiles & Components 0.63 0.63 0.63 0.65 0.75
Debt to Capital (including Operating Lease Liability), Industry
Consumer Discretionary 0.59 0.63 0.66 0.65 0.74

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 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 13,623 ÷ 86,536 = 0.16

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Tesla Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Assets

Tesla Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
 
Total assets 122,070 106,618 82,338 62,131 52,148
Solvency Ratio
Debt to assets1 0.07 0.05 0.04 0.11 0.22
Benchmarks
Debt to Assets, Competitors2
Ford Motor Co. 0.56 0.55 0.54 0.54 0.60
General Motors Co. 0.46 0.45 0.43 0.45 0.47
Debt to Assets, Sector
Automobiles & Components 0.43 0.42 0.43 0.45 0.51
Debt to Assets, Industry
Consumer Discretionary 0.32 0.34 0.35 0.36 0.41

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 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 8,213 ÷ 122,070 = 0.07

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Tesla Inc. debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Assets (including Operating Lease Liability)

Tesla Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt and finance leases 2,456 2,373 1,502 1,589 2,132
Debt and finance leases, net of current portion 5,757 2,857 1,597 5,245 9,556
Total debt 8,213 5,230 3,099 6,834 11,688
Operating lease liabilities, current portion 807 672 485 368 286
Operating lease liabilities, net of current portion 4,603 3,671 2,164 1,671 1,254
Total debt (including operating lease liability) 13,623 9,573 5,748 8,873 13,228
 
Total assets 122,070 106,618 82,338 62,131 52,148
Solvency Ratio
Debt to assets (including operating lease liability)1 0.11 0.09 0.07 0.14 0.25
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Ford Motor Co. 0.56 0.55 0.55 0.54 0.61
General Motors Co. 0.47 0.45 0.44 0.45 0.47
Debt to Assets (including Operating Lease Liability), Sector
Automobiles & Components 0.44 0.43 0.44 0.46 0.52
Debt to Assets (including Operating Lease Liability), Industry
Consumer Discretionary 0.41 0.43 0.44 0.45 0.50

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 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 13,623 ÷ 122,070 = 0.11

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Tesla Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.

Financial Leverage

Tesla Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets 122,070 106,618 82,338 62,131 52,148
Stockholders’ equity 72,913 62,634 44,704 30,189 22,225
Solvency Ratio
Financial leverage1 1.67 1.70 1.84 2.06 2.35
Benchmarks
Financial Leverage, Competitors2
Ford Motor Co. 6.36 6.39 5.92 5.30 8.71
General Motors Co. 4.44 4.25 3.89 4.10 5.22
Financial Leverage, Sector
Automobiles & Components 3.80 3.85 3.87 4.07 5.66
Financial Leverage, Industry
Consumer Discretionary 3.47 4.00 4.38 4.26 5.72

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 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 122,070 ÷ 72,913 = 1.67

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Tesla Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Interest Coverage

Tesla Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to common stockholders 7,091 14,997 12,556 5,519 721
Add: Net income attributable to noncontrolling interest 62 (23) 31 125 141
Add: Income tax expense 1,837 (5,001) 1,132 699 292
Add: Interest expense 350 156 191 371 748
Earnings before interest and tax (EBIT) 9,340 10,129 13,910 6,714 1,902
Solvency Ratio
Interest coverage1 26.69 64.93 72.83 18.10 2.54
Benchmarks
Interest Coverage, Competitors2
Ford Motor Co. 7.49 4.05 -1.40 10.86 0.32
General Motors Co. 11.07 12.42 12.75 14.39 8.37
Interest Coverage, Sector
Automobiles & Components 11.71 11.28 10.15 12.79 3.33
Interest Coverage, Industry
Consumer Discretionary 14.99 12.27 9.45 13.29 7.81

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 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 9,340 ÷ 350 = 26.69

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Tesla Inc. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Fixed Charge Coverage

Tesla Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to common stockholders 7,091 14,997 12,556 5,519 721
Add: Net income attributable to noncontrolling interest 62 (23) 31 125 141
Add: Income tax expense 1,837 (5,001) 1,132 699 292
Add: Interest expense 350 156 191 371 748
Earnings before interest and tax (EBIT) 9,340 10,129 13,910 6,714 1,902
Add: Operating lease expense 1,500 1,153 798 627 451
Earnings before fixed charges and tax 10,840 11,282 14,708 7,341 2,353
 
Interest expense 350 156 191 371 748
Operating lease expense 1,500 1,153 798 627 451
Fixed charges 1,850 1,309 989 998 1,199
Solvency Ratio
Fixed charge coverage1 5.86 8.62 14.87 7.36 1.96
Benchmarks
Fixed Charge Coverage, Competitors2
Ford Motor Co. 5.10 3.11 -0.75 8.91 0.47
General Motors Co. 8.39 4.97 9.47 5.79
Fixed Charge Coverage, Sector
Automobiles & Components 8.87 6.28 4.96 8.76 2.60
Fixed Charge Coverage, Industry
Consumer Discretionary 5.96 4.98 3.70 5.63 3.72

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 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 10,840 ÷ 1,850 = 5.86

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Tesla Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.