Tesla, Inc. (TSLA) intrinsic value & 10-year financials
Tesla, Inc. (TSLA) has a Graham intrinsic value of $35.87 per share. At $354.72 on Oct 17, 2026, the stock trades 889% above that value. Over the last 10 fiscal years revenue grew 33.6% a year to $94.8B, with an average return on invested capital of 9.7%.
- Graham intrinsic value
- $35.87
- Share price (Oct 17, 2026)
- $354.72
- Price vs Graham value
- 889% above
- Market cap
- $1.3T
- Revenue (FY2025)
- $94.8B
- Revenue growth (10-yr CAGR)
- 33.6%
- ROIC (10-yr avg)
- 9.7%
- Free cash flow (FY2025)
- $6.2B
TSLA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $94.8B | $3.8B | $1.08 | $6.2B | 4.6% | 4.4% |
| FY2024 | $97.7B | $7.1B | $2.04 | $3.6B | 7.2% | 9.4% |
| FY2023 | $96.8B | $15.0B | $4.30 | $4.4B | 9.2% | 20.9% |
| FY2022 | $81.5B | $12.6B | $3.62 | $7.6B | 16.8% | 48.4% |
| FY2021 | $53.8B | $5.5B | $1.63 | $5.0B | 12.1% | 34.9% |
| FY2020 | $31.5B | $721.0M | $0.21 | $2.8B | 6.3% | 10.7% |
| FY2019 | $24.6B | -$862.0M | -$0.33 | $1.1B | -0.3% | -0.6% |
| FY2018 | $21.5B | -$976.1M | -$0.38 | -$2.9M | -1.8% | -3.7% |
| FY2017 | $11.8B | -$2.0B | -$0.79 | -$3.5B | -13.9% | -18.6% |
| FY2016 | $7.0B | -$674.9M | -$0.31 | -$1.4B | -9.5% | -9.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tesla, Inc. is a consistent compounder, expanding top-line revenue at 33.6% annually over the past decade.
Tesla, Inc. returns on capital have been average, hovering around 9.6% ROIC over the decade.
Tesla, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Tesla, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $35.87 per share.