Tesla Inc., current enterprise value calculation

Current share price (P)	$237.97
No. shares of common stock outstanding	3,216,517,037
US$ in millions
Common equity (market value)¹	765,435)
Add: Preferred stock; $0.001 par value; no shares issued and outstanding (per books)	—)
Add: Noncontrolling interests in subsidiaries (per books)	704)
Total equity	766,139)
Add: Current portion of debt and finance leases (per books)	2,456)
Add: Debt and finance leases, net of current portion (per books)	5,757)
Total equity and debt	774,352)
Less: Cash and cash equivalents	16,139)
Less: Short-term investments	20,424)
Enterprise value (EV)	737,789)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 237.97 × 3,216,517,037

Tesla Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$400.28	$190.93	$173.22	$302.45	$287.81
No. shares of common stock outstanding¹	3,216,517,037	3,184,790,415	3,164,102,701	3,100,522,833	2,879,560,512
US$ in millions
Common equity (market value)³	1,287,507)	608,072)	548,086)	937,753)	828,766)
Add: Preferred stock; $0.001 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests in subsidiaries (book value)	704)	733)	785)	826)	850)
Total equity	1,288,211)	608,805)	548,871)	938,579)	829,616)
Add: Current portion of debt and finance leases (book value)	2,456)	2,373)	1,502)	1,589)	2,132)
Add: Debt and finance leases, net of current portion (book value)	5,757)	2,857)	1,597)	5,245)	9,556)
Total equity and debt	1,296,424)	614,035)	551,970)	945,413)	841,304)
Less: Cash and cash equivalents	16,139)	16,398)	16,253)	17,576)	19,384)
Less: Short-term investments	20,424)	12,696)	5,932)	131)	—)
Enterprise value (EV)	1,259,861)	584,941)	529,785)	927,706)	821,920)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Tesla Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 400.28 × 3,216,517,037

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Tesla Inc. EV increased from 2022 to 2023 and from 2023 to 2024.

Tesla Inc. (NASDAQ:TSLA)

Enterprise Value (EV)