Tesla (TSLA) FY2017 results: revenue $11.8 billion, up 68.0% on the year
Tesla, Inc. (TSLA) reported revenue of $11.8 billion for fiscal 2017, the year ended 31 December 2017, up 68.0% on the year before. Net income was -$2.0 billion, and diluted earnings per share $-0.79. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$11.8 billion
+68.0% on the year
FY2010FY2017
Operating margin
-13.9%
-9.5% a year earlier
FY2010FY2017
Net income
-$2.0 billion
FY2010FY2017
Diluted EPS
-$0.79
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
11,759
7,000
4,046
+68.0%
Cost of revenue
9,536
5,401
3,123
+76.6%
Gross profit
2,222
1,599
924
+39.0%
Gross margin
18.9%
22.8%
22.8%
Research and development
1,378
834
718
+65.2%
Selling, general and administrative
2,476
1,432
922
+72.9%
Operating income
-1,632
-667
-717
Operating margin
-13.9%
-9.5%
-17.7%
Interest expense
471
199
119
+137.0%
Pre-tax income
-2,209
-746
-876
Income tax
32.0
26.7
13.0
+19.9%
Net income
-1,961
-675
-889
Net margin
-16.7%
-9.6%
-22.0%
Diluted EPS
-$0.79
-$0.31
-$0.46
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-61.0
-124
-524
Capital expenditure
3,415
1,281
1,635
+166.6%
Free cash flow
-3,476
-1,405
-2,159
Free cash flow margin
-29.6%
-20.1%
-53.4%
Cash from investing
-4,196
-1,081
n/a
Cash from financing
4,415
3,744
n/a
+17.9%
Depreciation and amortisation
769
477
279
+61.2%
Share-based compensation
467
334
198
+39.7%
Diluted shares, weighted
2,486m
2,163m
1,923m
+14.9%
Shares outstanding at period end
2,532m
2,423m
1,971m
+4.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,237
4,753
1,084
-10.8%
Non-controlling interest
997
785
n/a
+27.0%
Redeemable equity
0.1
8.8
47.3
-99.2%
Debt
10,215
6,855
2,649
+49.0%
Other liabilities
13,206
10,263
4,288
+28.7%
Total liabilities and equity
28,655
22,664
8,068
+26.4%
Fixed assets
10,028
5,983
3,403
+67.6%
Goodwill
60.2
n/a
n/a
Intangible assets
362
376
12.8
-3.9%
Investments
n/a
n/a
16.7
Cash and equivalents
3,368
3,393
1,197
-0.7%
Receivables
515
499
169
+3.3%
Inventory
2,264
2,067
1,278
+9.5%
Other assets
12,059
10,345
1,991
+16.6%
Total assets
28,655
22,664
8,068
+26.4%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.