Tesla, Inc. (TSLA)
NEUTRAL基本面
49
价格
$352.59
市值
$1.38T
第一部分 · 这家公司值多少
概览
Tesla designs, manufactures and sells electric vehicles directly to buyers, without a franchised dealer network, and builds its own battery cells at vertically integrated factories in the US, China and Germany. Alongside cars it sells energy-storage batteries and solar equipment to homes and utilities, and is pushing into new, unproven lines: paid driving-assistance software, a robotaxi service, and Optimus, a humanoid robot still in early development.
盈利方式
Tesla earns most of its money selling vehicles outright, recognizing revenue on delivery rather than through a dealer network, which keeps a larger slice of the sale price but pushes service, financing and inventory risk onto the company itself. It also sells high-margin regulatory emissions credits to other automakers who need them to meet clean-air rules. A growing services line covers Supercharging, insurance and paid driving-assistance software subscriptions.
分部营收
Sales and leases of electric vehicles, plus automotive regulatory credits sold to other manufacturers.
Megapack and Powerwall battery systems sold to utilities and homeowners, plus solar panels and roofing.
Used-car sales, paid Supercharging, non-warranty maintenance, insurance and parts and merchandise sales.
护城河
成本优势 · 狭窄Tesla builds its own battery cells and runs vertically integrated Gigafactories, which has kept its unit production costs below most legacy automakers and funded the largest fast-charging network in North America. But Chinese manufacturers such as BYD have matched or undercut Tesla's costs, so the advantage is narrowing rather than widening as competition intensifies.
需求驱动因素
周期性Vehicle purchases are large, discretionary, and sensitive to interest rates, financing costs and government incentives, all of which can shift abruptly with policy changes. Demand has swung sharply in several markets as EV tax credits and subsidies were reduced or removed, showing how much of Tesla's volume depends on conditions outside its control.
主要风险
- Intensifying EV competition — Chinese manufacturers and legacy automakers are launching competitive electric vehicles at lower prices, eroding the cost and technology lead Tesla built in its early years.
- Supplier and manufacturing dependence — Tesla relies on suppliers, including single-source ones, for critical components; a shortage or disruption at any of them can directly delay production and deliveries.
- Dependence on Elon Musk — Tesla's strategy, product direction and public profile are closely tied to Elon Musk, who also runs several other companies; his divided attention or departure would be a material loss for Tesla.
- Unproven new product lines — Robotaxi services, full self-driving software and the Optimus robot are still in early, nascent stages, face significant technical and regulatory hurdles, and compete against well-funded rivals.
看多理由
Buyers argue that Tesla's lead in vertical integration and self-driving software will eventually translate into higher-margin businesses such as robotaxis and robots, and that its Supercharger network and brand keep customers loyal even as EV competition grows.
看空理由
Sellers fear that Chinese and legacy competitors are closing the EV cost gap faster than the new robotaxi and robot businesses can generate revenue, and that much of the company's valuation rests on projects that remain unproven.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
资产负债表与流动性
营收
$103.62B
最近12个月（截至2026/6/30）
净利润
$3.80B
最近12个月（截至2026/6/30）
自由现金流
$6.22B
股东权益合计
$82.14B
负债合计
$54.94B
流动比率
1.94
利息覆盖率
13.09
债务/EBITDA
1.50
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$300.16
当前价格
$352.59
安全边际
-17.5%
公允价值区间
$195.11 - $405.22
估算方法
估值指标
市盈率（P/E）
323.10
ROE
4.6%
市净率（P/B）
15.87
P/FCF
239.19
毛利率
18.9%
ROIC
3.0%
盈利能力雷达图
Value Creation (Economic Moat)
ROIC
3.0%
WACC
14.8%
ROIC − WACC
-11.8 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
基本面分析标准
通过（13）
- EPS shows upward trend
- Price CAGR 38.24%
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Revenue Growth 5Y 24.6%
- Earnings Quality (OCF/NI) 4.91
- Share Dilution 1.1%
- Piotroski F-Score 5/9
未通过（13）
- ROIC 3.1%
- Gross Margin 18.9%
- P/FCF 239.19
- P/B Ratio 15.87
- Operating Margin 4.2%
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 4.6%
- Analyst Consensus 49% Buy
- Earnings Surprise avg -7.0%
- PEG Ratio 9.21
- Net Margin Trend 3.7% vs 6.3%
不可用（1）
- Dividend Payout NaN%
Piotroski F-评分
信号混杂：部分领域需关注
盈利质量
高质量：盈利有现金流支撑
股权稀释
股份数量稳定
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Elon R. Musk | Co-Founder, Technoking of Tesla, CEO & Director | 54 |
| Mr. Vaibhav Taneja | Chief Financial Officer | 47 |
| Mr. Xiaotong Zhu | Senior Vice President of APAC & Global Vehicle Manufacturing | 45 |
| Travis Axelrod | Head of Investor Relations | - |
| Mr. Brandon Ehrhart | General Counsel & Corporate Secretary | - |
| Mr. Franz von Holzhausen | Chief Designer | - |
| Ms. Roxanne Inskip-Kaye | Head of Operations - Electric Vehicle Business | - |
| Mr. John Walker | Vice President of Sales - North America | 62 |
| Mr. Rodney D. Westmoreland Jr. | Director of Construction Management | - |
| Mr. Lars Moravy | Vice President of Vehicle Engineering | - |
审计风险
4
董事会风险
10
薪酬风险
10
股东权利风险
9
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for TSLA, sourced from Markets Gazette.
- 4d agoPOSITIVETesla’s stock jumps as the company gets cleared for a Las Vegas robotaxi launch
Tesla's stock experienced a significant surge following regulatory approval for its robotaxi service, the Cybercab, in Nevada. The company also announced plans for an imminent launch in Austin, Texas. This green light from Nevada regulators, allowing the deployment of thousands of autonomous vehicles, is a major step towards Tesla's ambitious autonomous driving goals. Investors are viewing this development positively, seeing it as a validation of the company's technology and a precursor to substantial future revenue streams from its mobility services division.
- 6d agoPOSITIVEPerché le azioni Tesla guadagnano il 3% oggi
Tesla shares surged 3% on Wednesday, breaking a two-day losing streak, as investors anticipate a potential Cybercab launch event. The company teased the event on X, offering customers a chance to receive an invitation by taking a Tesla robotaxi until August 23rd. Tesla initiated its AI-trained robotaxi service in Austin, Texas, in June 2025, using Model Y vehicles with its Full Self-Driving software. The service has since expanded to multiple cities, with Tesla planning to integrate the specially designed, steering wheel-less Cybercab into its fleet. This positive development, coupled with the ongoing expansion of its robotaxi services, suggests potential future revenue streams and technological advancements, boosting investor sentiment.
- 7d agoNEUTRALTesla asked Las Vegas for 5,000 robotaxi permits. Sin City gave it 10, capped the speed at 45mph, and banned airport trips
Tesla's ambitious request for 5,000 robotaxi permits in Las Vegas was significantly curtailed, with authorities granting only 10 permits. Furthermore, operational restrictions were imposed, including a speed limit of 45 mph and a ban on trips to Harry Reid International Airport. This limited rollout suggests a cautious approach from regulators, potentially delaying the widespread adoption and revenue generation from Tesla's autonomous driving ambitions in this key market. Investors will monitor the pace of expansion and the resolution of these regulatory hurdles.
- 7d agoPOSITIVEAzioni Tesla recuperano mentre gli investitori attendono progressi su AI e robotaxi
Tesla shares recovered from early losses on Tuesday, buoyed by investor focus on the electric vehicle maker's artificial intelligence ambitions, including its robotaxi and humanoid robot ventures. Despite a year-to-date decline of approximately 25% and a mere 1% gain over the past 12 months, the stock showed resilience. Investors are keenly awaiting tangible progress in Tesla's AI-driven businesses, particularly its AI-trained robotaxi service, which began a phased rollout in June 2025. This renewed investor interest in AI and autonomous driving technology signals potential upside for the stock.
- 11d agoNEUTRALElon Musk’s $158 billion Tesla pay was 2.5 million times his workers’ salary last year—it’s ‘unlike anything we have seen before,’ exec pay watch says
Elon Musk's compensation package from Tesla reached an extraordinary $158.3 billion last year, a figure that dwarfs the median employee salary. The executive pay watchdog highlighted that Musk's earnings equated to the median worker's annual pay in a mere 4.23 seconds. This vast disparity in compensation, described as 'unlike anything we have seen before,' raises questions about corporate governance and executive pay structures. While the news focuses on Musk's earnings, it does not directly impact Tesla's operational performance or stock valuation in the short term.
- 24d agoNEGATIVEElon Musk’s fortune slumps to pre-SpaceX IPO levels after rout
Elon Musk's net worth has fallen to $684 billion, a level not seen since before SpaceX's initial public offering. This significant decline, from a peak of approximately $1.33 trillion on June 16, 2026, is attributed to a rout in the market. For investors in Tesla, this personal wealth reduction is a stark indicator of the market's current sentiment and potential headwinds affecting the company's valuation and future prospects.
via Markets Gazette