Tesla Inc (TSLA)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	6.68	5.47	5.53	4.86	5.81	5.61	5.14	4.60	4.72	5.32	6.04	6.78	6.99	6.93	6.89	6.86	6.07	5.27	5.13	4.74
Receivables turnover	22.11	29.28	25.47	24.34	27.59	37.97	27.28	28.69	27.53	34.06	32.15	26.79	27.97	23.74	19.56	18.92	16.64	15.95	17.20	20.28
Payables turnover	6.43	5.42	6.01	5.29	5.48	5.52	4.83	4.16	3.97	3.95	4.37	4.06	4.01	4.36	4.32	4.26	4.12	4.48	5.67	5.36
Working capital turnover	3.31	3.77	3.78	4.49	4.64	5.22	5.77	5.53	5.73	6.58	7.14	8.19	7.28	6.74	5.03	3.66	2.53	3.34	8.38	8.95

Tesla Inc's inventory turnover ratio has shown some fluctuations over the period under review. It ranged from a low of 4.60 in March 2023 to a high of 6.99 in December 2021. A higher inventory turnover ratio indicates that the company is selling its inventory more efficiently.

The receivables turnover ratio, on the other hand, exhibits significant variability during the period. It peaked at 37.97 in September 2023 and hit a low of 15.95 in September 2020. A higher receivables turnover ratio suggests that Tesla is collecting its accounts receivables more quickly.

The payables turnover ratio has generally trended upwards over the years, indicating that Tesla is taking longer to pay its suppliers. It ranged from 3.95 in September 2022 to 6.43 in December 2024.

Tesla's working capital turnover ratio has also fluctuated, with the highest value of 8.95 in March 2020 and the lowest value of 3.31 in December 2024. A higher working capital turnover ratio indicates that the company is generating sales more efficiently with its working capital.

Overall, these activity ratios provide insights into how efficiently Tesla is managing its inventory, receivables, payables, and working capital to support its operations and growth.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	54.66	66.76	66.06	75.12	62.87	65.10	70.98	79.34	77.32	68.61	60.44	53.87	52.25	52.68	52.94	53.24	60.10	69.28	71.11	77.06
Days of sales outstanding (DSO)	days	16.51	12.47	14.33	14.99	13.23	9.61	13.38	12.72	13.26	10.72	11.35	13.62	13.05	15.37	18.66	19.30	21.93	22.88	21.23	18.00
Number of days of payables	days	56.74	67.33	60.76	68.99	66.58	66.13	75.51	87.78	91.87	92.33	83.58	89.93	90.98	83.69	84.53	85.65	88.68	81.44	64.38	68.08

The analysis of Tesla Inc's activity ratios reveals the following trends:

1. Days of Inventory on Hand (DOH): Tesla's DOH decreased from 77.06 days as of March 31, 2020, to a low of 52.25 days by December 31, 2021. However, there was an uptick in DOH to 77.32 days by December 31, 2022, before fluctuating between 54.66 days and 75.12 days up to December 31, 2024.

2. Days of Sales Outstanding (DSO): Tesla's DSO fluctuated over the period, reaching a peak of 22.88 days as of September 30, 2020, before decreasing gradually to a low of 9.61 days as of September 30, 2023. The DSO increased to 16.51 days by December 31, 2024.

3. Number of Days of Payables: The number of days of payables for Tesla varied over the period, with fluctuations between 60.76 days and 92.33 days. There was a noticeable decrease in payables to 56.74 days as of December 31, 2024.

Overall, the activity ratios of Tesla Inc indicate varying trends in managing inventory, sales collection, and vendor payments over the analyzed period. These fluctuations could be indicative of changes in Tesla's operational efficiency and working capital management strategies.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	2.73	2.69	2.90	3.01	3.26	3.46	3.56	3.45	3.46	3.41	3.18	3.11	2.85	2.71	2.67	2.59	2.47	2.38	2.34	2.45
Total asset turnover	0.80	0.81	0.84	0.87	0.91	1.02	1.04	0.99	0.99	1.01	0.98	0.94	0.87	0.81	0.76	0.68	0.60	0.62	0.67	0.70

The fixed asset turnover ratio for Tesla Inc has been showing an improving trend from 2.45 in March 2020 to 3.26 in December 2023, before slightly declining to 2.73 by December 2024. This indicates that the company is generating more revenue from its fixed assets over time, which is a positive sign of efficiency in utilizing its long-term assets.

On the other hand, the total asset turnover ratio for Tesla Inc fluctuated over the years, with a general upward trend from 0.70 in March 2020 to 0.80 by December 2024. The ratio peaked at 1.04 in June 2023, indicating that the company was generating significant revenue relative to its total assets during that period.

Overall, the analysis of Tesla Inc's long-term activity ratios suggests that the company has shown improvements in its ability to generate revenue from both its fixed and total assets over the years, with some fluctuations in performance. It is important for investors and stakeholders to monitor these ratios to assess the company's efficiency in utilizing its long-term assets for revenue generation.