Tesla Inc (TSLA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 17,660,000 | 20,853,000 | 13,606,000 | 6,630,000 | 4,069,000 |
| Revenue | US$ in thousands | 96,773,000 | 81,462,000 | 53,823,000 | 31,536,000 | 24,578,000 |
| Gross profit margin | 18.25% | 25.60% | 25.28% | 21.02% | 16.56% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $17,660,000K ÷ $96,773,000K
= 18.25%
Based on the gross profit margin data for Tesla Inc over the past five years, there has been variability in the company's ability to generate profits from its revenue. The gross profit margin decreased from 23.94% in 2022 to 16.71% in 2023, which indicates a reduction in the percentage of revenue retained after accounting for the cost of goods sold. Similarly, there was a slight decline from 23.19% in 2021 to 21.02% in 2020. However, the gross profit margin improved from 16.56% in 2019 to 21.02% in 2020 before declining again in 2023.
The fluctuations in the gross profit margin suggest changes in Tesla's cost structure, pricing strategy, or production efficiency. It is important for investors and stakeholders to monitor these trends and assess the company's ability to effectively manage its production costs and maintain profitability.
Peer comparison
Dec 31, 2023