Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Tesla Inc., profitability ratios
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).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Tesla Inc. gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Tesla Inc. operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Tesla Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Tesla Inc. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| ROA | A profitability ratio calculated as net income divided by total assets. | Tesla Inc. ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Gross Profit Margin
Tesla Inc., gross profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Gross profit | 17,660) | 20,853) | 13,606) | 6,630) | 4,069) | |
| Revenues | 96,773) | 81,462) | 53,823) | 31,536) | 24,578) | |
| Profitability Ratio | ||||||
| Gross profit margin1 | 18.25% | 25.60% | 25.28% | 21.02% | 16.56% | |
| Benchmarks | ||||||
| Gross Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 9.25% | 9.85% | 9.20% | 2.75% | 6.23% | |
| General Motors Co. | 10.36% | 11.87% | 11.49% | 10.25% | 9.82% | |
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 2023 Calculation
Gross profit margin = 100 × Gross profit ÷ Revenues
= 100 × 17,660 ÷ 96,773 = 18.25%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Tesla Inc. gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Operating Profit Margin
Tesla Inc., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Income (loss) from operations | 8,891) | 13,656) | 6,523) | 1,994) | (69) | |
| Revenues | 96,773) | 81,462) | 53,823) | 31,536) | 24,578) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 9.19% | 16.76% | 12.12% | 6.32% | -0.28% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 3.29% | 4.21% | 3.58% | -3.80% | 0.40% | |
| General Motors Co. | 5.90% | 7.16% | 8.21% | 6.10% | 4.47% | |
| Operating Profit Margin, Sector | ||||||
| Automobiles & Components | 5.63% | 8.08% | 6.94% | 1.65% | 2.06% | |
| Operating Profit Margin, Industry | ||||||
| Consumer Discretionary | 9.12% | 8.47% | 8.79% | 6.48% | 7.63% | |
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 2023 Calculation
Operating profit margin = 100 × Income (loss) from operations ÷ Revenues
= 100 × 8,891 ÷ 96,773 = 9.19%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Tesla Inc. operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net Profit Margin
Tesla Inc., net profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to common stockholders | 14,997) | 12,556) | 5,519) | 721) | (862) | |
| Revenues | 96,773) | 81,462) | 53,823) | 31,536) | 24,578) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 15.50% | 15.41% | 10.25% | 2.29% | -3.51% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 2.62% | -1.33% | 14.21% | -1.10% | 0.03% | |
| General Motors Co. | 6.42% | 6.90% | 8.82% | 5.91% | 5.49% | |
| Net Profit Margin, Sector | ||||||
| Automobiles & Components | 7.01% | 5.48% | 11.40% | 2.29% | 2.03% | |
| Net Profit Margin, Industry | ||||||
| Consumer Discretionary | 7.92% | 5.15% | 9.20% | 5.24% | 5.92% | |
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 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to common stockholders ÷ Revenues
= 100 × 14,997 ÷ 96,773 = 15.50%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Tesla Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Return on Equity (ROE)
Tesla Inc., ROE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to common stockholders | 14,997) | 12,556) | 5,519) | 721) | (862) | |
| Stockholders’ equity | 62,634) | 44,704) | 30,189) | 22,225) | 6,618) | |
| Profitability Ratio | ||||||
| ROE1 | 23.94% | 28.09% | 18.28% | 3.24% | -13.03% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| Ford Motor Co. | 10.16% | -4.58% | 36.97% | -4.17% | 0.14% | |
| General Motors Co. | 15.75% | 14.65% | 16.77% | 14.27% | 16.11% | |
| ROE, Sector | ||||||
| Automobiles & Components | 17.37% | 13.17% | 24.18% | 5.99% | 7.25% | |
| ROE, Industry | ||||||
| Consumer Discretionary | 30.61% | 21.65% | 34.37% | 25.29% | 34.62% | |
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 2023 Calculation
ROE = 100 × Net income (loss) attributable to common stockholders ÷ Stockholders’ equity
= 100 × 14,997 ÷ 62,634 = 23.94%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Tesla Inc. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Return on Assets (ROA)
Tesla Inc., ROA calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to common stockholders | 14,997) | 12,556) | 5,519) | 721) | (862) | |
| Total assets | 106,618) | 82,338) | 62,131) | 52,148) | 34,309) | |
| Profitability Ratio | ||||||
| ROA1 | 14.07% | 15.25% | 8.88% | 1.38% | -2.51% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| Ford Motor Co. | 1.59% | -0.77% | 6.98% | -0.48% | 0.02% | |
| General Motors Co. | 3.71% | 3.76% | 4.09% | 2.73% | 2.95% | |
| ROA, Sector | ||||||
| Automobiles & Components | 4.51% | 3.41% | 5.94% | 1.06% | 1.14% | |
| ROA, Industry | ||||||
| Consumer Discretionary | 7.66% | 4.94% | 8.07% | 4.42% | 5.57% | |
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 2023 Calculation
ROA = 100 × Net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 14,997 ÷ 106,618 = 14.07%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | Tesla Inc. ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |