Tesla’s 2024 financial results are out—and they’re terrible

[xatolos@reddthat.com]

AI Summary:

Tesla's 2024 financial results were disappointing, with several key points highlighted:

• Automotive Revenues: Fell by 8% in Q4 2024 compared to Q4 2023, totaling $19.8 billion.
• Energy and Storage Revenues: More than doubled, growing by 113% to $3 billion in Q4 2024.
• Services: Grew by 31% in Q4 2024, contributing $2.8 billion.
• Total Revenue: Increased by 2% in Q4 2024, but income fell by 23%, with an operating margin of 6.2%.
• Net Profits: Dropped by 71% to $2.3 billion in Q4 2024.
• Annual Performance: Automotive revenues decreased by 6% to $77 billion in 2024. Energy generation and storage increased by 67% to $10 billion. Services grew by 27%, bringing in $10.5 billion.
• Gross Profits: Fell by 1%, with net profits dropping by 53% to $7.1 billion for the year.
• Free Cash Flow: Decreased by 18% to $3.6 billion.
• Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.
• Future Predictions: Tesla expects energy storage revenues to grow by at least 50% year-over-year and aims to grow automotive sales by more than 60% in 2025.

Despite the poor financial results, Tesla's share price increased by 103% over the same period.

[gradually_adjusting@lemmy.world]

Value investing is basically dead, isn't it? Am I crazy? How can you objectively evaluate a company's value, notice it is undervalued, and then trade accordingly when price action does not even slightly track the company's value?

[snekerpimp@lemmy.world]

That’s ok, I’m sure a big government bailout is on the horizon for JUST the struggling, American EV auto maker, because their CEO sucked the president’s dick the best.

[cevn@lemmy.world]

The investors are banking on Elon looting the Govt coffers into Tesla. I can’t deny the chances based on the other crap we are seeing.

[gradually_adjusting@lemmy.world]

True enough. A bet on any tech stocks right now is probably safe on that basis - but I expect they really do plan to crash the stock market at some point... It would make sense if you wanted to consolidate ownership cheaply.

[ineedmana@lemmy.world]

Net Profits: Dropped by 71% to $2.3 billion in Q4 2024.

Since when 2.4 billion net profit is terrible?

"Yes, we earned billions but it's actually less than the year before!" Dude, go out and touch some grass...

[bishma@discuss.tchncs.de]

"Terrible" is just for attention, but the bit of news that would have cratered any other company's stock it that it's down 71% YOY. Plus:

Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.

People in the current administration have said they plan to end these credits in the coming months. Without them in 2024 Tesla would have reported a $500million loss for the year.

[ininewcrow@lemmy.ca]

You can't base their company value on the stock market ... you base it on how much power and influence they have over government.

And judging by the amount of stupidly arranged love affair they are having with the government .... they should be very highly valued.

[spacepirate@lemmy.ml]

They have $3.6B in free cash flow. This is just a decrease from last year, which was a record, to this year, a year in which new car sales outside of China are massively down everywhere.

[the_wise_wolf@feddit.org]

Receiving $2.4 billion is nice. But not if you had to pay $1265 billion (market cap) for the privilege.

[excessshiv@lemmy.dbzer0.com]

every other car manufacturer would kill for a deficit of only 500 mill for the year

[snekerpimp@lemmy.world]

Again, more reason for baby musk to cry at baby trump about how it isn’t fair and he NEEEDS American tax dollars to fight the China EV invasion.

[bishma@discuss.tchncs.de]

And every other car manufacturer has valuation multiplies 12x lower than Tesla's. Musk's worst nightmare is investors treating Tesla like a car company. That's why he keeps pushing on "Tesla is an AI company that makes cars, not a car company."

[einlander@lemmy.world]

So they are making bank on storage and energy, but they are allowing Trump and the EPA to ruin it? Also he makes electric vehicles and Trump and Co are trying to bring back gas guzzlers and straight pipes. Hmmm. I think Elons mouth wasn't sufficiently moist enough for trump.

[excessshiv@lemmy.dbzer0.com]

Oh Yeah I completely agree, apparently everyone is super touchy with everything elon and couldn't take the joke.

[flowvoid@lemmy.world]

Value investing isn't dead. There are tons of value investors, and they aren't the ones buying Tesla.

[flowvoid@lemmy.world]

It's bad because it downward trends are bad, especially when other companies are growing.

Look at this way: suppose you have a job with a decent salary. Your supervisor calls you in and says, "Well, looks like we're going to cut your pay next year". You ask, "Is the company in trouble? Is everyone getting a pay cut?" And they answer, "No, the company is doing pretty well. Most people are getting raises. Not you, though."

That's a bad sign.

[viri4thus@feddit.org]

They're also banking on Elon staying alive for the next 4y which is a risky bet given how he immediately antagonised the MAGA crowd on H1Bs.

[technocrit@lemmy.dbzer0.com]

Tesla’s share price increased by 103% over the same period.

It's funny when people cry about crypto being a scam when the entire "economy" is a casino based on genocide.

[viri4thus@feddit.org]

Teslas are objectively trash. 1 out of 3 model 3s didn't pass the mandatory inspection in Denmark 4y after purchase which results in tje cars becoming very expensive paper weights given how expensive it is to repair the modal issues. I'm amazed these data weren't more divulged by media since they come from the Danish state.