Very little debt to repay and plenty of cash on hand, so it is hard to shake.
Metrics · D/E ~19% · Current Ratio 1.94
💲Is the price expensive now?
On the expensive side
Even accounting for growth expectations, the price is set high.
Metrics · P/E 296.1 · P/B 14.5
💡Almost no debt (~0.19x, net cash) and ample liquidity, but earning power fell sharply (margin 16.8%→4.1%, ROE 4.7%). Very expensive at 296x P/E, 14.5x P/B.
Compiled from public financial data. Not a recommendation to buy or sell any security. · Source: Company filings · TradingView · S&P Global (margins, debt, liquidity, P/B are TTM), as of 2026-07-23
Business Summary · Key Value Metrics
Electric vehicles, energy storage (ESS), solar, FSD (self-driving software), and robotaxi/Optimus (robotics). FY2025 revenue $94.8B and operating income $4.4B (4.6% operating margin). The automotive segment generates most of the revenue, and profitability has fallen sharply of late.
Current Price
$319.69
-14.52%-$54.32· Close 2026-07-23
Analyst Consensus Target (external reference)
$409.81
Avg. of 47 external analysts · TradingView (analyst consensus) · S&P Global Market Intelligence (47 analysts)
P/E (TTM)
296.1x
TTM · forward ~168x
Operating Margin
4.1%
TTM (down from 16.8% in '22)
ROE
4.7%
TTM (down from 33.6% in '22)
Revenue Growth
+2.3%
TTM YoY
P/S (TTM)
12.2x
Rich vs. revenue
Market Cap
$1.26T
As of 2026-07-23
Economic Moat · Key Business Segments
Tesla's North American Supercharger network was adopted as the industry standard (NACS), so rivals such as Ford, GM, and Rivian pay to access it. Vertical integration spanning cells, batteries, software, and charging, together with accumulated FSD (self-driving) data, are strengths, but its automotive margin advantage is eroding under pressure from rivals like BYD and repeated price cuts (source: company IR · industry reports).
Supercharger (NACS)
Adopted as the North American charging standard; rivals pay to access it — a network effect.
Vertical integration
In-house cells, batteries, drivetrain, software, and charging — cost and OTA-update advantages (now weakening).
FSD and data
Millions of vehicles feed driving data for self-driving training; robotaxi commercialization is in progress.
Brand and energy
Leading EV brand recognition plus a fast-growing energy-storage (ESS) segment.
10-Year Financial Trends
Revenue grew rapidly at a 9-year CAGR of +33.7% (FY2016 $7.0B → FY2025 $94.8B), but operating income declined for three straight years after peaking at $13.7B (16.8% margin) in 2022: $8.9B in 2023, $7.1B in 2024, and $4.4B (4.6% margin) in 2025. Price cuts and intensifying competition squeezed automotive margins, and 2025 revenue contracted -3.0%. Q1 2026 operating income rebounded +135.8% YoY, but Q2 2026 (reported July 22) paired $28.2B revenue (+25.5% YoY) with just $0.4B of operating income (-56.9% YoY), a ~1.4% quarterly operating margin (source: SEC EDGAR · company IR · macrotrends).
10-Year Growth
Revenue$94.8B · CAGR +33.6%
Operating Income$4.4B
EPS$1.08 · CAGR +38.8%
10-Year Valuation
P/E (year-end)416.4x · avg 184.5x
ROE4.9% · avg 17.2%
Operating Margin4.6% · avg 3.1%
📊 Annual Data Table (TSLA) — expand/collapse
Year
Revenue (B$)
Op. Income (B$)
EPS ($)
P/E (x)
ROE (%)
Op. Margin (%)
2016
7
-0.67
—
—
—
-9.5
2017
11.76
-1.63
—
—
—
-13.9
2018
21.46
-0.39
—
—
—
-1.8
2019
24.58
-0.07
—
—
—
-0.3
2020
31.54
1.99
0.21
—
5
6.3
2021
53.82
6.52
1.63
216.1
21.1
12.1
2022
81.46
13.66
3.62
34
33.6
16.8
2023
96.77
8.89
4.3
57.8
27.9
9.2
2024
97.69
7.08
2.04
198
10.5
7.3
2025
94.83
4.36
1.08
416.4
4.9
4.6
— = no data for that year/metric (P/E omitted before EPS turned positive)
9-Year CAGR: Revenue +33.7% · Operating Income turned positive (2020) · Net Income turned positive (2020) · EPS turned positive (2020)
Sources: SEC EDGAR (10-K) · macrotrends · company IR. Revenue and operating income are on a fiscal-year (December) basis. EPS is diluted and adjusted for the 15:1 cumulative split (5:1 in August 2020, 3:1 in August 2022). P/E is fiscal year-end price ÷ diluted EPS; 2020 is excluded as an early-earnings outlier (~1120x), and the 2025 year-end price is preliminary. ROE is on an average-equity basis and differs somewhat from the TTM figure.
Mega-Cap Value Metric Comparison
Among the peer group, Tesla has the highest trailing P/E at 296.1 (on collapsed earnings). Its 4.1% operating margin is below Toyota's (~10%) but above loss-making Rivian. BYD leads Tesla on both operating margin and growth and has risen to the top of global EV sales (P/E and margins = TTM · sources: TradingView · company filings).
Metric
★ TSLA
BYD
Toyota
Rivian
P/E (TTM)
296.1
~18
~8
loss
Operating Margin
4.1%
~6%
~10%
loss
ROE
4.7%
~22%
~13%
loss
Revenue YoY Growth
+2.3%
~+3.5%
~+5%
negative
P/E, ROE, operating margin = TTM; revenue growth = latest YoY · BYD/Toyota/Rivian figures are approximate (differing currencies and fiscal years) · sources: TradingView · company filings, as of 2026-07-23.
Key Risk Factors (from 10-K)
●
Margin collapse and price-cut competition— Pursuit by rivals like BYD and repeated price cuts drove the automotive operating margin from 16.8% in 2022 to 4.6% in 2025, with an uncertain timeline for recovery.Source: Company IR · earnings calls
●
Intensifying EV competition from BYD and others— BYD has risen to No. 1 in global EV sales and is eroding share in China and Europe, pressuring both pricing and growth.Source: Industry reports · company 10-K
●
High valuation dependent on execution— At a 296x P/E, 14.5x P/B, and 12.2x P/S, the stock prices in the success of future businesses like FSD, robotaxi, and robotics; falling short risks a de-rating.Source: TradingView
●
FSD and robotaxi competition and regulation— Self-driving competition from the likes of Waymo and delays in regulatory approval leave the timing of commercialization and monetization uncertain.Source: Company 10-K Risk Factors
●
Management focus and brand risk— Concerns that the CEO's outside activities (politics, DOGE, etc.) are a distraction, along with brand-image damage, are weighing on demand in some markets.Source: Industry reports
✦ ValueCrab Dashboard PreviewTSLA $319.69 -14.52% · as of 2026-07-23
Q. What are Tesla's (TSLA) key value-investing metrics?P/E (TTM) 296.1, ROE 4.7%, operating margin 4.1%, net margin 3.7%, P/S 12.2, and a 9-year revenue CAGR of +33.7% (sources: company IR · SEC · TradingView, as of 2026-07-23).
Q. What is the analyst price-target consensus for Tesla?The average analyst target is about $409.81 (TradingView). This is an external consensus, not our own estimate, implying about +28.2% versus the current $319.69. S&P Global tracks 47 analysts. Sources: TradingView · S&P Global Market Intelligence, 2026-07.
Q. Isn't a 296x P/E far too expensive?On the facts alone, the trailing P/E of 296x and forward of ~168x are very high in absolute terms. This reflects sharply reduced earnings combined with expectations for future businesses like FSD, robotaxi, and robotics. We do not offer a definitive buy or sell opinion.
Q. Does Tesla carry a lot of debt?No. With debt at roughly 0.19x equity (D/E 0.19) and a current ratio of 1.94, it is effectively in a net-cash position (cash and equivalents exceed borrowings) (sources: company 10-K · TradingView).
Q. Why has profitability deteriorated?Operating income declined for three straight years — from $13.7B (16.8% margin) in 2022 to $8.9B in 2023, $7.1B in 2024, and $4.4B (4.6% margin) in 2025. In Q2 2026 revenue still rose +25.5% YoY while operating income fell -56.9% YoY. The main causes are price cuts and intensifying competition from the likes of BYD (sources: SEC EDGAR 10-K · 10-Q).
Q. Who are Tesla's main competitors?In EVs, BYD, Toyota, Rivian, and emerging Chinese EV makers; in self-driving, Waymo; in energy, numerous ESS players.