Tesla Inc (TSLA)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 14,997,000 | 12,556,000 | 5,519,000 | 721,000 | -862,000 |
| Total assets | US$ in thousands | 106,618,000 | 82,338,000 | 62,131,000 | 52,148,000 | 34,309,000 |
| ROA | 14.07% | 15.25% | 8.88% | 1.38% | -2.51% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $14,997,000K ÷ $106,618,000K
= 14.07%
Based on the provided data, Tesla Inc's return on assets (ROA) has exhibited fluctuations over the past five years. In 2023, the ROA stood at 14.07%, declining from 15.28% in 2022. However, both figures represent solid returns on assets. The company experienced a notable improvement in ROA compared to 2021 when it was 8.89%. This trend reflects an enhanced ability to generate profits from its assets. Moreover, in 2020 and 2019, Tesla Inc recorded lower ROA figures of 1.32% and -2.51% respectively, indicating a less efficient utilization of assets to generate profits during those periods. It is evident that the company's ROA has shown significant improvement over the years, indicative of better management of its assets to generate higher returns.
Peer comparison
Dec 31, 2023