Tesla (TSLA) FY2020 results: revenue $31.5 billion, up 28.3% on the year
Tesla, Inc. (TSLA) reported revenue of $31.5 billion for fiscal 2020, the year ended 31 December 2020, up 28.3% on the year before. Net income was $721 million, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2021.
Revenue
$31.5 billion
+28.3% on the year
FY2013FY2020
Operating margin
6.3%
-0.3% a year earlier
FY2013FY2020
Net income
$721 million
FY2013FY2020
Diluted EPS
$0.21
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
31,536
24,578
21,461
+28.3%
Cost of revenue
24,906
20,509
17,419
+21.4%
Gross profit
6,630
4,069
4,042
+62.9%
Gross margin
21.0%
16.6%
18.8%
Research and development
1,491
1,343
1,460
+11.0%
Selling, general and administrative
3,145
2,646
2,834
+18.9%
Operating income
1,994
-69.0
-388
Operating margin
6.3%
-0.3%
-1.8%
Interest expense
748
685
663
+9.2%
Pre-tax income
1,154
-665
-1,005
Income tax
292
110
58.0
+165.5%
Effective tax rate
25.3%
n/a
n/a
Net income
721
-862
-976
Net margin
2.3%
-3.5%
-4.5%
Diluted EPS
$0.21
-$0.33
-$0.38
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
5,943
2,405
2,098
+147.1%
Capital expenditure
3,157
1,327
2,101
+137.9%
Free cash flow
2,786
1,078
-2.9
+158.4%
Free cash flow margin
8.8%
4.4%
-0.0%
Cash from investing
-3,132
-1,436
-2,337
Cash from financing
9,973
1,529
574
+552.3%
Depreciation and amortisation
1,621
1,414
1,176
+14.6%
Share-based compensation
1,734
898
749
+93.1%
Diluted shares, weighted
3,249m
2,655m
2,558m
+22.4%
Shares outstanding at period end
2,880m
2,715m
2,589m
+6.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
22,225
6,618
4,923
+235.8%
Non-controlling interest
850
849
834
+0.1%
Redeemable equity
604
643
556
-6.1%
Debt
11,688
13,419
11,972
-12.9%
Operating lease liabilities
1,254
956
n/a
+31.2%
Finance lease liabilities
1,094
1,232
n/a
-11.2%
Other liabilities
14,433
10,592
11,454
+36.3%
Total liabilities and equity
52,148
34,309
29,740
+52.0%
Fixed assets
12,747
10,396
11,330
+22.6%
Goodwill
207
198
68.0
+4.5%
Intangible assets
313
339
282
-7.7%
Cash and equivalents
19,384
6,268
3,686
+209.3%
Receivables
1,886
1,324
949
+42.4%
Inventory
4,101
3,552
3,113
+15.5%
Other assets
13,510
12,232
10,311
+10.4%
Total assets
52,148
34,309
29,740
+52.0%
10-K for the year ended 31 December 2020, filed 8 February 2021: the filing.