Tesla (TSLA) FY2019 results: revenue $24.6 billion, up 14.5% on the year
Tesla, Inc. (TSLA) reported revenue of $24.6 billion for fiscal 2019, the year ended 31 December 2019, up 14.5% on the year before. Net income was -$862 million, and diluted earnings per share $-0.33. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$24.6 billion
+14.5% on the year
FY2012FY2019
Operating margin
-0.3%
-1.8% a year earlier
FY2012FY2019
Net income
-$862 million
FY2012FY2019
Diluted EPS
-$0.33
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
24,578
21,461
11,759
+14.5%
Cost of revenue
20,509
17,419
9,536
+17.7%
Gross profit
4,069
4,042
2,222
+0.7%
Gross margin
16.6%
18.8%
18.9%
Research and development
1,343
1,460
1,378
-8.0%
Selling, general and administrative
2,646
2,834
2,476
-6.6%
Operating income
-69.0
-388
-1,632
Operating margin
-0.3%
-1.8%
-13.9%
Interest expense
685
663
471
+3.3%
Pre-tax income
-665
-1,005
-2,209
Income tax
110
58.0
32.0
+89.7%
Net income
-862
-976
-1,961
Net margin
-3.5%
-4.5%
-16.7%
Diluted EPS
-$0.33
-$0.38
-$0.79
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,405
2,098
-61.0
+14.6%
Capital expenditure
1,327
2,101
3,415
-36.8%
Free cash flow
1,078
-2.9
-3,476
Free cash flow margin
4.4%
-0.0%
-29.6%
Cash from investing
-1,436
-2,337
-4,196
Cash from financing
1,529
574
4,415
+166.5%
Depreciation and amortisation
1,414
1,176
769
+20.2%
Share-based compensation
898
749
467
+19.9%
Diluted shares, weighted
2,655m
2,558m
2,486m
+3.8%
Shares outstanding at period end
2,715m
2,589m
2,532m
+4.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,618
4,923
4,237
+34.4%
Non-controlling interest
849
834
997
+1.8%
Redeemable equity
643
556
0.1
+15.7%
Debt
13,419
11,972
10,215
+12.1%
Operating lease liabilities
956
n/a
n/a
Finance lease liabilities
1,232
n/a
n/a
Other liabilities
10,592
11,454
13,206
-7.5%
Total liabilities and equity
34,309
29,740
28,655
+15.4%
Fixed assets
10,396
11,330
10,028
-8.2%
Goodwill
198
68.0
60.2
+191.2%
Intangible assets
339
282
362
+20.0%
Cash and equivalents
6,268
3,686
3,368
+70.1%
Receivables
1,324
949
515
+39.5%
Inventory
3,552
3,113
2,264
+14.1%
Other assets
12,232
10,311
12,059
+18.6%
Total assets
34,309
29,740
28,655
+15.4%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.