Tesla Inc (TSLA) Q4 2023 Earnings Report

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Tesla Inc

TSLA

$455.00 0.10%

Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Auto Manufacturers

Q4 2023

Published: Jan 29, 2024

Earnings Highlights

Revenue of $25.17B up 3.5% year-over-year
EPS of $2.27 increased by 111% from previous year
Gross margin of 17.6%
Net income of 7.93B
""It's important to emphasize that this is very much a production-constrained situation, not a demand-constrained situation. The demand is off the hook." - Elon Musk" - Elon Musk

TSLA

Tesla Inc

Period Q4 2023

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

In Q4 2023, Tesla Inc. (TSLA) reported impressive financial results with revenue reaching $25.17 billion, a sequential increase of 7.78% and a year-over-year growth of 3.49%. The company achieved record production levels, delivering over 1.8 million vehicles for the year, with a strong annualized production run rate of nearly 2 million in Q4 alone. Net income surged to $7.93 billion, reflecting a year-over-year increase of over 113%, underscoring the company's resilient profitability despite a challenging macroeconomic environment marked by high inflation and interest rates. Management emphasized the strong trajectory of both automotive and energy sectors, positioning Tesla for sustained growth in 2024.

Key Performance Indicators

Revenue

Increasing

25.17B

QoQ: 7.78% | YoY: 3.49%

Gross Profit

Decreasing

4.44B

17.63% margin

QoQ: 6.22% | YoY: -23.18%

Operating Income

Decreasing

2.06B

QoQ: 17.01% | YoY: -47.09%

Net Income

Increasing

7.93B

QoQ: 327.95% | YoY: 113.52%

EPS

Increasing

2.49

QoQ: 329.31% | YoY: 111.02%

Revenue Trend

Margin Analysis

Financial Highlights

- Revenue: $25.17 billion (QoQ +7.78%, YoY +3.49%)
- Gross Profit: $4.44 billion, with a margin of 17.63% (QoQ +6.22%, YoY -23.18%)
- Operating Income: $2.06 billion, reflecting an 8.20% margin (QoQ +17.01%, YoY -47.09%)
- Net Income: $7.93 billion (QoQ +327.95%, YoY +113.52%)
- EPS (Diluted): $2.27
- Free Cash Flow: $2.06 billion
- Cash and Cash Equivalents: $16.40 billion at period end
Management underlined significant CAPEX investments and ongoing R&D efforts, which reached record levels as part of their commitment to innovation and production expansion.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	25.17B	3.49%	7.78%
Gross Profit	4.44B	-23.18%	6.22%
Operating Income	2.06B	-47.09%	17.01%
Net Income	7.93B	113.52%	327.95%
EPS	2.49	111.02%	329.31%

Key Financial Ratios

Gross Profit Margin

Weak

17.60%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Fair

8.20%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Excellent

31.50%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Fair

7.44%

Return on assets is acceptable but below top-tier companies

Return on Equity

Good

12.70%

Return on equity shows solid performance and effective asset utilization

Current Ratio

Healthy

1.73

Current ratio shows adequate liquidity to meet short-term obligations

Debt to Equity

Conservative

0.07

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Fair Value

24.92x

P/E ratio in line with market averages

Price to Book

High Premium

12.62x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	19,335.00	0.12	-9.2%	View
Q4 2024	25,707.00	0.66	+2.2%	View
Q3 2024	25,182.00	0.62	+7.9%	View
Q2 2024	25,500.00	0.42	+2.3%	View
Q1 2024	21,301.00	0.34	-8.7%	View
Q4 2023	25,167.00	2.27	+3.5%	View

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Tesla Inc (TSLA) Q4 2023 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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