Analysis of Reportable Segments
Tesla Inc. operates in 2 segments: Automotive and Energy generation and storage.
Segment Profit Margin
Tesla Inc., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Automotive | 18.21% | 26.52% | 26.91% | 22.38% | 16.83% |
| Energy generation and storage | 18.91% | 7.37% | -4.63% | 0.90% | 12.41% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Automotive | Automotive segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Energy generation and storage | Energy generation and storage segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Automotive
Tesla Inc.; Automotive; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Gross profit | 16,519) | 20,565) | 13,735) | 6,612) | 3,879) |
| Revenues | 90,738) | 77,553) | 51,034) | 29,542) | 23,047) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 18.21% | 26.52% | 26.91% | 22.38% | 16.83% |
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
Segment profit margin = 100 × Gross profit ÷ Revenues
= 100 × 16,519 ÷ 90,738 = 18.21%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Automotive | Automotive segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Energy generation and storage
Tesla Inc.; Energy generation and storage; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Gross profit | 1,141) | 288) | (129) | 18) | 190) |
| Revenues | 6,035) | 3,909) | 2,789) | 1,994) | 1,531) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 18.91% | 7.37% | -4.63% | 0.90% | 12.41% |
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
Segment profit margin = 100 × Gross profit ÷ Revenues
= 100 × 1,141 ÷ 6,035 = 18.91%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Energy generation and storage | Energy generation and storage segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Revenues
Tesla Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Automotive | 90,738) | 77,553) | 51,034) | 29,542) | 23,047) |
| Energy generation and storage | 6,035) | 3,909) | 2,789) | 1,994) | 1,531) |
| Total | 96,773) | 81,462) | 53,823) | 31,536) | 24,578) |
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).
Gross profit
Tesla Inc., gross profit by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Automotive | 16,519) | 20,565) | 13,735) | 6,612) | 3,879) |
| Energy generation and storage | 1,141) | 288) | (129) | 18) | 190) |
| Total | 17,660) | 20,853) | 13,606) | 6,630) | 4,069) |
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).