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Tesla Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Tesla has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Tesla's Piotroski F-Score or its related term are showing as below:

NAS:TSLA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 8
Current: 7

2
8

During the past 13 years, the highest Piotroski F-Score of Tesla was 8. The lowest was 2. And the median was 4.


Tesla Piotroski F-Score Historical Data

The historical data trend for Tesla's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Tesla Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 2.00 5.00 5.00 8.00

Tesla Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 8.00 8.00 8.00 7.00

Competitive Comparison

For the Auto Manufacturers subindustry, Tesla's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Tesla Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Tesla's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Tesla's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 270 + 438 + 1142 + 1618 = $3,468 Mil.
Cash Flow from Operations was 3019 + 1641 + 2124 + 3147 = $9,931 Mil.
Revenue was 10744 + 10389 + 11958 + 13757 = $46,848 Mil.
Gross Profit was 2066 + 2215 + 2884 + 3660 = $10,825 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(45691 + 52148 + 52972 + 55146 + 57834) / 5 = $52758.2 Mil.
Total Assets at the begining of this year (Sep20) was $45,691 Mil.
Long-Term Debt & Capital Lease Obligation was $8,067 Mil.
Total Current Assets was $25,002 Mil.
Total Current Liabilities was $18,051 Mil.
Net Income was 97 + 16 + 104 + 300 = $517 Mil.

Revenue was 7384 + 5985 + 6036 + 8771 = $28,176 Mil.
Gross Profit was 1391 + 1234 + 1267 + 2063 = $5,955 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(32795 + 34309 + 37250 + 38135 + 45691) / 5 = $37636 Mil.
Total Assets at the begining of last year (Sep19) was $32,795 Mil.
Long-Term Debt & Capital Lease Obligation was $11,738 Mil.
Total Current Assets was $21,744 Mil.
Total Current Liabilities was $13,302 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Tesla's current Net Income (TTM) was 3,468. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Tesla's current Cash Flow from Operations (TTM) was 9,931. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep20)
=3468/45691
=0.07590116

ROA (Last Year)=Net Income/Total Assets (Sep19)
=517/32795
=0.0157646

Tesla's return on assets of this year was 0.07590116. Tesla's return on assets of last year was 0.0157646. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Tesla's current Net Income (TTM) was 3,468. Tesla's current Cash Flow from Operations (TTM) was 9,931. ==> 9,931 > 3,468 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=8067/52758.2
=0.15290514

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=11738/37636
=0.31188224

Tesla's gearing of this year was 0.15290514. Tesla's gearing of last year was 0.31188224. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep21)=Total Current Assets/Total Current Liabilities
=25002/18051
=1.38507562

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=21744/13302
=1.63464141

Tesla's current ratio of this year was 1.38507562. Tesla's current ratio of last year was 1.63464141. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Tesla's number of shares in issue this year was 1123. Tesla's number of shares in issue last year was 1105. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=10825/46848
=0.23106643

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5955/28176
=0.21135009

Tesla's gross margin of this year was 0.23106643. Tesla's gross margin of last year was 0.21135009. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep20)
=46848/45691
=1.02532227

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=28176/32795
=0.85915536

Tesla's asset turnover of this year was 1.02532227. Tesla's asset turnover of last year was 0.85915536. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Tesla has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Tesla  (NAS:TSLA) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Tesla Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Tesla's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Tesla Business Description

Tesla logo
Industry
Consumer Cyclical » Vehicles & Parts NAICS : 336211 SIC : 3711
Address
3500 Deer Creek Road, Palo Alto, CA, USA, 94304
Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla has multiple vehicles in its fleet, which include luxury and mid-size sedans and crossover SUVs. The company also plans to begin selling more affordable sedans and small SUVs, a light-truck, semi-truck, and a sports car. Global deliveries in 2020 were roughly 500,000 units.
Executives
Baglino Andrew D officer: SVP Powertrain and Energy Eng. 3500 DEER CREEK ROAD FREMONT CA 94538
Kirkhorn Zachary officer: Chief Financial Officer 3500 DEER CREEK ROAD PALO ALTO CA 94304
Guillen Jerome M officer: President, Automotive 3500 DEER CREEK RD. PALO ALTO CA 94304
Taneja Vaibhav officer: Chief Accounting Officer 3500 DEER CREEK ROAD PALO ALTO CA 94304
Wilson-thompson Kathleen director PO BOX 3599 BATTLE CREEK MI 49016-3599
Musk Kimbal director C/O TESLA MOTORS, INC. 3500 DEER CREEK ROAD PALO ALTO CA 94304
Denholm Robyn M director 4150 NETWORK CIRCLE SANTA CLARA CA 95054
Mizuno Hiromichi director 1-2-33-A504, KOMAZAWA SETAGAYA TOKYO M0 154-0012
Gracias Antonio J. director C/O VALOR EQUITY PARTNERS 200 SOUTH MICHIGAN AVENUE, SUITE 1020 CHICAGO IL 60604
Musk Elon director, 10 percent owner, officer: CEO C/O TESLA MOTORS, INC. 3500 DEER CREEK ROAD PALO ALTO CA 94304
Ellison Lawrence Joseph director C/O DELPHI ASSET MGMT CORPORATION 5525 KIETZKE LANE, SUITE 200 RENO NV 89511
Jurvetson Stephen T director 2882 SAND HILL ROAD, SUITE 150 MENLO PARK CA 94025
Straubel Jeffrey B officer: Chief Technical Officer C/O TESLA MOTORS, INC. 3500 DEER CREEK ROAD PALO ALTO CA 94304
Ehrenpreis Ira Matthew director 100 SHORELINE HWY SUITE 282, BLDG. B MILL VALLEY CA 94941
Buss Brad W director 198 CHAMPION COURT SAN JOSE CA 95134

Tesla Headlines

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