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Tesla, Inc.TSLACompetitor analysis, valuation and peers

United States · USD·Consumer Discretionary›Motor Vehicles

Makes electric vehicles, batteries and energy-storage systems, and is developing self-driving software and robots.

Momentum neutral 47
Mkt cap
$1.42T
US dollars, full cap
Free float
71%
of shares outstanding
$/day
$15.1B
20-day average traded
Fwd P/E
176.4×
forward earnings
ROIC−WACC
-8.8 pp
WACC 13.5%
Hurdle
n/a
no reverse DCF
Next earnings
89 days
3 Feb 2027
Close · USD$358.22
1D+4.2%
1W-10.4%
1M-4.5%
3M+8.3%
6M-16.4%
YTD-20.4%
1Y-22.5%
ATR %4.7%
Beta2.09
52w lowhigh28.2% off high

What Tesla does

Makes electric vehicles, batteries and energy-storage systems, and is developing self-driving software and robots.

Earns most of its income from vehicles sold direct to buyers through its own stores and website rather than dealers, with a smaller energy line selling Megapack batteries to utilities. It also sells emissions credits to other carmakers and charges for driver-assistance software. Elon Musk is chief executive and the largest shareholder.

Products and services

  • Electric vehicles (Model 3/Y/S/X, Cybertruck)
  • Energy storage & solar (Megapack, Powerwall)
  • Full Self-Driving software
  • Optimus humanoid robot

Customers

  • consumers
  • utilities/commercial (energy storage)
  • robotaxi/AI customers (future)

Where it sits in the supply chain

  • Automotive & clean energy
  • EV design and manufacturing
  • Vehicles + energy storage +…

What could go right

  • Energy storage growth
  • Robotaxi and Optimus commercialization

What could go wrong

  • EV price competition / margin pressure
  • Execution risk on autonomy and robotics timelines

Moat: narrow (brand, scale, installed base). Strong brand and manufacturing scale, plus a large fleet generating driving data, though EV competition is intensifying.

Headquarters: Austin, Texas, US · Founded: 2003 · Employees: 134,785

Named competitors

Tesla at a glance

Size Tesla (TSLA) is a United States Consumer Discretionary company (Motor Vehicles) with a market value of $1.42T, the 9th largest of 3,117 United States companies the cockpit tracks. Shares closed at $358.22 on 6 Nov 2026.

Performance Over six months the shares fell 16.4%, against -0.2% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.

Growth Revenue grew 8.3% over the last twelve months (peer median +6.5%); the operating margin is 3.5% (peer median 6.4%).

Valuation It trades at 176.4× forward earnings against a peer median of 10.6× (most expensive of 20).

Capital Return on invested capital runs 8.8 points below its cost of capital (13.5% WACC).

Backlog Backlog (remaining performance obligations) was $10.7B at 30 Sep 2026, up 10% on a year earlier — 0.1 years of trailing revenue. Backlog detail →

Short interest Short interest is 1.8% of the free float (15 Oct 2026).

Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).

Relative performance

8010011 May 202611 Aug 20266 Nov 2026Peer median 102TSLA 80
Six months, rebased to 100: Tesla against the median of its 20 peers (local-currency closes).

Tesla financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$104B$94.8B$97.7B$96.8B$81.5B
Revenue growth—-3%+1%+19%—
Gross profit$20.0B$17.1B$17.4B$17.7B$20.9B
EBITDA$10.3B$11.0B$13.1B$13.6B$17.4B
Net income$3.22B$3.79B$7.13B$15.0B$12.6B
Free cash flow$3.30B$6.22B$3.58B$4.36B$7.56B
Capital expenditure$15.4B$8.53B$11.3B$8.90B$7.17B
Total debt$16.4B$14.7B$13.6B$9.57B$5.75B

Quarterly statements and history in the cockpit →

Tesla competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-10%0%+10%7203RACEGMFP9110053807267MBGM&MMARUTIBMWVOWDTGBAJAJ-AUTO0002707269TVSMOTOREICHERMOT0175RIVNTSLA6-month return →1-month return →
Up and to the right = strong over both horizons. Tesla is the large dot.

Fundamentals: revenue growth against valuation

0%+20%+40%0×50×100×150×7203RACEGMFP911M&MMARUTIDTGBAJAJ-AUTO0002707269TVSMOTOREICHERMOT0175TSLARevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Tesla is the large dot.

Tesla competitors and peer comparison

Head to head with its named competitors (TSLA vs 1211.HK vs NIO vs XPEV)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Tesla TSLA$1.42T-16%+8%4%176.4×n/a
BYD 1211.HK$98.9B-26%0%4%15.8×n/a
NIO NIO$7.97B-42%+70%-4%n/an/a
XPEV XPEV$9.30B-34%+29%-7%n/an/a
Rivian Automotive RIVN$19.9B-4%+11%-53%n/an/a
General Motors GM$72.7B+10%0%2%6.1×23.9%

How Tesla compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Tesla against its 20 peers (data as of 6 Nov 2026)
MeasureTSLAPeer medianRank in peer set
1-month return-4.5%+8.8%4th lowest of 21
6-month return-16.4%-0.2%7th lowest of 21
Distance from 52-week high-28.2%-17.2%9th lowest of 21
Revenue growth (TTM)+8.3%+6.5%9th highest of 21
Operating margin3.5%6.4%5th lowest of 21
Forward P/E176.4×10.6×most expensive of 20
ROIC minus cost of capital-8.8 pp-1.8 pp2nd lowest of 21
Net debt / EBITDA-2.9×3.6×least indebted of 17

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Tesla TSLAUnited States$1.42T-16%+8%4%176.4×n/an/a
Toyota Motor 7203.TJapan$251B+10%+7%7%10.6×n/an/a
Ferrari RACE.MIItaly$92.2B+30%+6%30%37.7×22.8%+15.6%
General Motors GMUnited States$72.7B+10%0%2%6.1×23.9%+8.6%
Ford Motor FUnited States$48.8B+2%-1%2%7.0×25.6%+8.1%
Porsche P911.DEGermany$47.8B0%-10%6%22.9×17.3%+4.8%
HyundaiMtr 005380.KSSouth Korea$47.5B-47%+1%5%7.3×n/an/a
Honda Motor 7267.TJapan$45.2B+45%+4%-1%11.7×18.2%+10.6%
Mercedes-Benz MBG.DEGermany$44.9B-19%-7%5%7.9×4.5%+1.7%
Mahindra & Mahindra M&M.NSIndia$43.1B-2%+26%15%24.0×13.6%+21.5%
Maruti Suzuki India MARUTI.NSIndia$42.3B-7%+30%7%30.1×27.7%+21.1%
Bayerische Motoren Werke BMW.DEGermany$40.3B-22%-6%6%9.7×n/an/a
Volkswagen VOW.DEGermany$39.1B-24%-3%7%5.5×n/an/a
Daimler Truck DTG.DEGermany$34.7B-1%-14%5%10.6×9.8%+4.8%
Bajaj Auto BAJAJ-AUTO.NSIndia$31.7B+3%+48%19%24.0×27.3%+17.4%
Kia 000270.KSSouth Korea$28.3B-34%+8%7%5.4×-12.9%+14.0%
Suzuki Motor 7269.TJapan$27.3B+26%+14%9%9.1×-0.8%+14.6%
TVS Motor TVSMOTOR.NSIndia$22.6B+21%+34%12%42.5×n/an/a
Eicher Motors EICHERMOT.NSIndia$22.3B+5%+28%21%33.0×36.0%+21.8%
Geely Auto 0175.HKHong Kong$20.1B-34%+27%4%6.5×-9.3%+29.3%
Rivian Automotive RIVNUnited States$19.9B-4%+11%-53%n/an/an/a

Tesla backlog

Tesla reported $10.7B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 7% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.02.

Questions

Who are Tesla's main competitors?
Named competitors: BYD (1211.HK), NIO (NIO), XPeng (XPEV), Rivian (RIVN), General Motors (GM). The cockpit's measured peer set (industry) also includes Toyota Motor (7203.T), Ferrari (RACE.MI), General Motors (GM), Ford Motor (F), Porsche (P911.DE), HyundaiMtr (005380.KS).
Is Tesla expensive compared with its peers?
On forward p/e it trades at 176.4× against a peer median of 10.6×, most expensive of 20 in its peer set.
How has Tesla stock performed?
Over six months to 6 Nov 2026 the shares returned -16.4% against -0.2% for the median peer; over one year -22.5%.
What is Tesla's backlog?
Tesla's remaining performance obligations (contracted revenue not yet recognised) were $10.7B at 30 Sep 2026, +10% on a year earlier.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.