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Tesla (NAS:TSLA) Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a 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:

TSLA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Tesla was 8. The lowest was 2. And the median was 6.


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 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 8.00 8.00 8.00

Tesla Quarterly Data
Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23
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 7.00 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 in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.


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 (Jun23) TTM:Last Year (Jun22) TTM:
Net Income was 3292 + 3714 + 2513 + 2703 = $12,222 Mil.
Cash Flow from Operations was 5100 + 3278 + 2513 + 3065 = $13,956 Mil.
Revenue was 21454 + 24318 + 23329 + 24927 = $94,028 Mil.
Gross Profit was 5382 + 5777 + 4511 + 4533 = $20,203 Mil.
Average Total Assets from the begining of this year (Jun22)
to the end of this year (Jun23) was
(68513 + 74426 + 82338 + 86833 + 90591) / 5 = $80540.2 Mil.
Total Assets at the begining of this year (Jun22) was $68,513 Mil.
Long-Term Debt & Capital Lease Obligation was $3,803 Mil.
Total Current Assets was $43,875 Mil.
Total Current Liabilities was $27,592 Mil.
Net Income was 1618 + 2326 + 3318 + 2259 = $9,521 Mil.

Revenue was 13757 + 17719 + 18756 + 16934 = $67,166 Mil.
Gross Profit was 3660 + 4847 + 5460 + 4234 = $18,201 Mil.
Average Total Assets from the begining of last year (Jun21)
to the end of last year (Jun22) was
(55146 + 57834 + 62131 + 66038 + 68513) / 5 = $61932.4 Mil.
Total Assets at the begining of last year (Jun21) was $55,146 Mil.
Long-Term Debt & Capital Lease Obligation was $4,720 Mil.
Total Current Assets was $31,222 Mil.
Total Current Liabilities was $21,821 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 12,222. ==> 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 13,956. ==> 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 (Jun22)
=12222/68513
=0.1783895

ROA (Last Year)=Net Income/Total Assets (Jun21)
=9521/55146
=0.17265078

Tesla's return on assets of this year was 0.1783895. Tesla's return on assets of last year was 0.17265078. ==> 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 12,222. Tesla's current Cash Flow from Operations (TTM) was 13,956. ==> 13,956 > 12,222 ==> 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: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=3803/80540.2
=0.04721866

Gearing (Last Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=4720/61932.4
=0.07621213

Tesla's gearing of this year was 0.04721866. Tesla's gearing of last year was 0.07621213. ==> 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: Jun23)=Total Current Assets/Total Current Liabilities
=43875/27592
=1.59013482

Current Ratio (Last Year: Jun22)=Total Current Assets/Total Current Liabilities
=31222/21821
=1.43082352

Tesla's current ratio of this year was 1.59013482. Tesla's current ratio of last year was 1.43082352. ==> This year's current ratio is higher. ==> Score 1.

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 3478. Tesla's number of shares in issue last year was 3464. ==> 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
=20203/94028
=0.21486153

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=18201/67166
=0.27098532

Tesla's gross margin of this year was 0.21486153. Tesla's gross margin of last year was 0.27098532. ==> Last year's gross margin is higher ==> Score 0.

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 (Jun22)
=94028/68513
=1.37241108

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun21)
=67166/55146
=1.21796685

Tesla's asset turnover of this year was 1.37241108. Tesla's asset turnover of last year was 1.21796685. ==> 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+1+0+0+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 (NAS:TSLA) Business Description

Tesla logo
Address
1 Tesla Road, Austin, TX, USA, 78725
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 midsize sedans and crossover SUVs. The company also plans to begin selling more affordable sedans and small SUVs, a light truck, a semi truck, and a sports car. Global deliveries in 2022 were a little over 1.3 million vehicles.
Executives
Zachary Kirkhorn officer: Chief Financial Officer 3500 DEER CREEK ROAD, PALO ALTO CA 94304
Xiaotong Zhu officer: SVP, Automotive 1 TESLA ROAD, AUSTIN TX 78725
Joseph Gebbia director C/O AIRBNB, INC., 888 BRANNAN STREET, SAN FRANCISCO CA 94103
Robyn M Denholm director 4150 NETWORK CIRCLE, SANTA CLARA CA 95054
Vaibhav Taneja officer: Chief Accounting Officer 3500 DEER CREEK ROAD, PALO ALTO CA 94304
Elon Musk director, 10 percent owner, officer: CEO C/O TESLA MOTORS, INC., 3500 DEER CREEK ROAD, PALO ALTO CA 94304
Ira Matthew Ehrenpreis director 100 SHORELINE HWY, SUITE 282, BLDG. B, MILL VALLEY CA 94941
Andrew D Baglino officer: SVP Powertrain and Energy Eng. 3500 DEER CREEK ROAD, FREMONT CA 94538
Hiromichi Mizuno director 1-2-33-A504, KOMAZAWA, SETAGAYA, TOKYO M0 154-0012
Lawrence Joseph Ellison director C/O DELPHI ASSET MGMT CORPORATION, 5525 KIETZKE LANE, SUITE 200, RENO NV 89511
Kathleen Wilson-thompson director PO BOX 3599, BATTLE CREEK MI 49016-3599
Morton David H Jr officer: Chief Accounting Officer SEAGATE TECHNOLOGY, 920 DISC DRIVE, SCOTTS VALLEY CA 95066
John Douglas Field officer: Senior VP, Engineering ONE AMERICAN ROAD, DEARBORN MI 48126
Jon Mcneill officer: President, WW Sales/Service 45500 FREMONT BLVD, FREMONT CA 94538
James R Murdoch director C/O LUPA SYSTEMS, 363 LAFAYETTE STREET, NEW YORK NY 10022