Tesla, Inc. (TSLA) Key Metrics
TSLA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.40T
- Enterprise value
- $1.37T
- P/E (TTM)
- 328.4 10-yr median 193.5
- Forward P/E
- 158.7
- PEG ratio
- 4.54
- Price / sales
- 13.5 10-yr median 7.1
- Price / book
- 17.3 10-yr median 13.0
- EV / EBITDA
- 122.5 10-yr median 90.7
- Dividend yield
- —
- Beta
- 1.92
TSLA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTSLA valuation Price multiples at each fiscal year-end price.
TSLA returns How much profit the business earns on the capital it uses.
TSLA per-share figures Results divided by the shares outstanding at year-end.
TSLA financial health Debt, liquidity and how easily interest is covered.
TSLA efficiency & capital use Working capital cycle and where the cash goes.
TSLA valuation history
TSLA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TSLA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TSLA price vs earnings per share
TSLA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.59T | $1.41T | $865.39B | $428.05B | $1.09T | $764.24B | $74.04B | $56.78B | $51.61B | $30.82B |
| Enterprise value | $1.55T | $1.39T | $845.87B | $411.61B | $1.08T | $758.14B | $82.38B | $66.92B | $60.37B | $36.23B |
| P/E ratio | 418.2 | 198.1 | 57.8 | 34.0 | 193.5 | — | — | — | — | — |
| Price / sales | 16.7 | 14.5 | 8.9 | 5.3 | 20.3 | 24.2 | 3.0 | 2.6 | 4.4 | 4.4 |
| Price / book | 19.3 | 19.4 | 13.8 | 9.6 | 35.2 | 34.4 | 11.2 | 11.5 | 12.2 | 6.5 |
| Price / free cash flow | 255.1 | 394.5 | 198.6 | 56.7 | 313.6 | 282.9 | 76.5 | — | — | — |
| Price / operating cash flow | 107.6 | 94.7 | 65.3 | 29.1 | 95.0 | 128.6 | 30.8 | 27.1 | — | — |
| EV / sales | 16.4 | 14.2 | 8.7 | 5.1 | 20.1 | 24.0 | 3.4 | 3.1 | 5.1 | 5.2 |
| EV / EBITDA | 131.8 | 94.5 | 57.2 | 23.1 | 112.9 | 179.5 | 37.9 | 42.9 | — | 90.7 |
| EV / free cash flow | 249.3 | 388.1 | 194.1 | 54.5 | 311.0 | 280.7 | 85.1 | — | — | — |
| Earnings yield | 0.2% | 0.5% | 1.7% | 2.9% | 0.5% | 0.1% | −1.2% | −1.7% | −3.8% | −2.2% |
| Free cash flow yield | 0.4% | 0.3% | 0.5% | 1.8% | 0.3% | 0.4% | 1.3% | −0.4% | −8.0% | −5.1% |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $449.72 | $403.84 | $248.48 | $123.18 | $352.26 | $235.22 | $27.89 | $22.19 | $20.76 | $14.25 |
| Per share | ||||||||||
| Revenue per share | $26.88 | $27.93 | $27.79 | $23.44 | $17.36 | $9.71 | $9.26 | $8.39 | $4.73 | $3.24 |
| Earnings per share | $1.08 | $2.04 | $4.30 | $3.62 | $1.82 | $0.22 | −$0.32 | −$0.38 | −$0.79 | −$0.31 |
| Operating cash flow per share | $4.18 | $4.27 | $3.81 | $4.24 | $3.71 | $1.83 | $0.91 | $0.82 | −$0.02 | −$0.06 |
| Free cash flow per share | $1.76 | $1.02 | $1.25 | $2.17 | $1.12 | $0.83 | $0.36 | −$0.09 | −$1.67 | −$0.72 |
| Cash per share | $12.49 | $10.45 | $8.35 | $6.38 | $5.71 | $5.97 | $2.36 | $1.44 | $1.35 | $1.57 |
| Book value per share | $23.28 | $20.84 | $17.98 | $12.86 | $10.00 | $6.84 | $2.49 | $1.92 | $1.70 | $2.20 |
| Tangible book value per share | $23.17 | $20.42 | $17.81 | $12.69 | $9.45 | $6.68 | $2.29 | $1.79 | $1.53 | $2.02 |
| Capex per share | $2.42 | $3.24 | $2.56 | $2.06 | $2.58 | $1.00 | $0.54 | $0.91 | $1.64 | $0.67 |
| Debt per share | $2.37 | $3.89 | $2.75 | $1.65 | $2.86 | $4.09 | $5.50 | $5.40 | $4.88 | $4.07 |
| Shares outstanding | 3.53B | 3.50B | 3.48B | 3.48B | 3.10B | 3.25B | 2.65B | 2.56B | 2.49B | 2.16B |
| Change in shares outstanding | +0.9% | +0.4% | +0.2% | +12.1% | −4.6% | +22.4% | +3.8% | +2.9% | +14.9% | +12.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.9% | 10.5% | 27.9% | 33.2% | 21.2% | 5.0% | −14.9% | −21.3% | −43.6% | −23.1% |
| Return on invested capital (ROIC) | 6.6% | 12.1% | 24.9% | 49.7% | 31.1% | 9.6% | −0.4% | −2.2% | −11.1% | −8.1% |
| Return on assets (ROA) | 2.9% | 6.2% | 15.8% | 17.4% | 9.9% | 1.7% | −2.7% | −3.3% | −7.6% | −4.4% |
| Return on tangible assets | 2.8% | 5.9% | 14.1% | 15.4% | 9.3% | 1.4% | −2.6% | −3.3% | −6.9% | −3.0% |
| Free cash flow margin | 6.6% | 3.7% | 4.5% | 9.3% | 6.5% | 8.6% | 3.9% | −1.0% | −35.2% | −22.3% |
| Income quality (OCF / net income) | 3.89 | 2.09 | 0.89 | 1.17 | 2.04 | 8.24 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $8.38B | $13.62B | $9.57B | $5.75B | $8.87B | $13.28B | $14.60B | $13.83B | $12.13B | $8.80B |
| Cash & short-term investments | $44.06B | $36.56B | $29.09B | $22.18B | $17.71B | $19.38B | $6.27B | $3.69B | $3.37B | $3.39B |
| Net debt | −$35.68B | −$22.94B | −$19.52B | −$16.44B | −$8.83B | −$6.11B | $8.34B | $10.14B | $8.76B | $5.41B |
| Debt / equity | 0.10 | 0.19 | 0.15 | 0.13 | 0.29 | 0.60 | 2.21 | 2.81 | 2.86 | 1.85 |
| Debt / assets | 0.06 | 0.11 | 0.09 | 0.07 | 0.14 | 0.25 | 0.43 | 0.46 | 0.42 | 0.39 |
| Net debt / EBITDA | −3.03 | −1.56 | −1.32 | −0.92 | −0.92 | −1.45 | 3.84 | 6.51 | — | 13.54 |
| Current ratio | 2.16 | 2.02 | 1.73 | 1.53 | 1.38 | 1.88 | 1.13 | 0.83 | 0.86 | 1.07 |
| Quick ratio | 1.77 | 1.61 | 1.25 | 1.05 | 1.08 | 1.59 | 0.80 | 0.52 | 0.56 | 0.72 |
| Interest coverage | 12.9 | 20.2 | 57.0 | 71.5 | 18.0 | 2.7 | -0.1 | -0.6 | -3.5 | -3.4 |
| Working capital | $36.93B | $29.54B | $20.87B | $14.21B | $7.39B | $12.47B | $1.44B | −$1.69B | −$1.10B | $432.8M |
| Invested capital | $46.45B | $49.97B | $43.11B | $28.27B | $22.18B | $16.12B | $14.95B | $15.06B | $13.00B | $10.16B |
| Tangible asset value | $82.47B | $72.21B | $62.99B | $45.30B | $29.30B | $23.16B | $7.57B | $5.96B | $5.21B | $5.53B |
| Net current asset value | $13.70B | $9.97B | $6.61B | $4.48B | −$4.02B | −$1.75B | −$14.10B | −$15.12B | −$16.45B | −$10.50B |
| Graham number | $23.73 | $30.92 | $41.71 | $32.38 | $20.24 | $5.84 | — | — | — | — |
| Graham net-net per share | −$0.36 | −$0.72 | −$1.28 | −$1.62 | −$2.93 | −$1.73 | −$6.46 | −$6.83 | −$7.29 | −$5.53 |
| Capital allocation | ||||||||||
| Share buybacks (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Capex / revenue | 9.0% | 11.6% | 9.2% | 8.8% | 14.9% | 10.3% | 5.8% | 10.8% | 34.7% | 20.6% |
| Capex / operating cash flow | 57.8% | 76.0% | 67.1% | 48.7% | 69.7% | 54.6% | 59.8% | 110.5% | — | — |
| Capex / depreciation | 1.39 | 2.11 | 1.91 | 2.02 | 2.75 | 1.40 | 0.67 | 1.22 | 2.49 | 1.52 |
| Stock-based compensation / revenue | 3.0% | 2.0% | 1.9% | 1.9% | 3.9% | 5.5% | 3.7% | 3.5% | 4.0% | 4.8% |
| R&D / revenue | 6.8% | 4.6% | 4.1% | 3.8% | 4.8% | 4.7% | 5.5% | 6.8% | 11.7% | 11.9% |
| SG&A / revenue | 6.2% | 5.3% | 5.0% | 4.8% | 8.4% | 10.0% | 10.8% | 13.2% | 21.1% | 20.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 17.3 | 14.8 | 12.2 | 10.9 | 12.9 | 18.6 | 16.9 | 12.5 | 15.7 | 17.4 |
| Days of inventory on hand | 57.3 | 58.3 | 61.1 | 56.0 | 44.7 | 56.1 | 59.3 | 56.3 | 82.9 | 113.0 |
| Days payables outstanding | 60.7 | 61.2 | 68.5 | 76.1 | 73.0 | 72.0 | 63.9 | 60.7 | 81.3 | 93.8 |
| Cash conversion cycle (days) | 13.9 | 11.9 | 4.8 | -9.2 | -15.3 | 2.7 | 12.3 | 8.1 | 17.3 | 36.6 |
| Receivables turnover | 21.09 | 24.65 | 29.96 | 33.49 | 28.34 | 19.65 | 21.63 | 29.31 | 23.18 | 20.96 |
| Payables turnover | 6.02 | 5.96 | 5.33 | 4.80 | 5.00 | 5.07 | 5.72 | 6.01 | 4.49 | 3.89 |
| Inventory turnover | 6.37 | 6.26 | 5.98 | 6.52 | 8.16 | 6.51 | 6.15 | 6.48 | 4.40 | 3.23 |
| Asset turnover | 0.73 | 0.85 | 1.02 | 1.13 | 0.94 | 0.73 | 0.77 | 0.74 | 0.46 | 0.46 |
| Average receivables | $4.50B | $3.96B | $3.23B | $2.43B | $1.90B | $1.60B | $1.14B | $732.2M | $507.3M | $334.1M |
| Average payables | $12.92B | $13.45B | $14.84B | $12.64B | $8.04B | $4.91B | $3.59B | $2.90B | $2.13B | $1.39B |
| Average inventory | $12.20B | $12.82B | $13.23B | $9.30B | $4.93B | $3.83B | $3.33B | $2.69B | $2.17B | $1.67B |
| Intangibles / total assets | 0.3% | 1.2% | 0.6% | 0.7% | 2.8% | 1.0% | 1.6% | 1.2% | 1.5% | 1.7% |
Computed from TSLA's annual financial statements (latest annual report filed January 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TSLA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Tesla traded at 418.2 times earnings, against a 10-year median of 193.5. Based on the latest twelve months, the trailing P/E is 328.4 and the forward P/E is 158.7. Tesla earned a return on equity of 4.9% and a return on invested capital of 6.6% in fiscal 2025. It ended the year with $8.4 billion of debt and $44.1 billion in cash and short-term investments, a net cash position of $35.7 billion. The share count rose 63.1% from 2.16B to 3.53B over 9 years.
See the TSLA income statement, the TSLA chart for price history, or the TSLA stock overview for the latest quote and news.
TSLA key metrics FAQ
What is Tesla's P/E ratio?
Tesla's trailing P/E ratio is 328.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 158.7. At the end of fiscal 2025 it was 418.2, compared with a 10-year median of 193.5.
What is Tesla's EV/EBITDA?
Tesla's enterprise value was 131.8 times EBITDA at the end of fiscal 2025 (enterprise value $1.55 trillion, EBITDA $11.8 billion); the current EV/EBITDA is 122.5.
What is Tesla's return on equity?
Tesla's return on equity (ROE) was 4.9% in fiscal 2025: net income of $3.8 billion on average shareholders' equity of $77.5 billion.
What is Tesla's ROIC?
Tesla's return on invested capital was 6.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tesla have?
Tesla had total debt of $8.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.10 and more cash than debt.
What is Tesla's free cash flow yield?
Tesla generated $6.2 billion of free cash flow in fiscal 2025, a free cash flow yield of 0.4% on its market value at year-end ($1.59 trillion).
What is Tesla's current ratio?
Tesla's current ratio was 2.16 at the end of fiscal 2025: current assets were 2.16 times current liabilities.