Question 1

What is Tesla's P/FCF ratio?

Accepted Answer

Tesla (TSLA) P/FCF ratio is 189.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Tesla?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Tesla specifically, the relevant sector benchmark is the current sector median of 17.1×.

Question 5

Is Tesla's P/FCF ratio high or low?

Accepted Answer

Tesla's P/FCF ratio of 189.0× is below its own 5-year average of 211.2× and above the sector median of 17.1×. That places the current reading at the 40th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Tesla's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Tesla (TSLA) P/FCF ratio has ranged from a low of 29.6× in 2019 to a high of 663.7× in 2024. The 5-year average is 211.2× and the 5-year median is 196.6×.

Question 7

What was Tesla's P/FCF ratio in 2025?

Accepted Answer

Tesla (TSLA) P/FCF ratio at the end of 2025 was 233.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Tesla's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$1.45T	$6.22B	233.6×	-128.7×	Dec 31, 2025
2024	$1.3T	$3.58B	362.3×	+180.9×	Dec 31, 2024
2023	$790B	$4.36B	181.4×	+129.9×	Dec 31, 2023
2022	$389B	$7.55B	51.5×	-256.4×	Dec 31, 2022
2021	$1.07T	$3.48B	308.0×	+59.5×	Dec 31, 2021
2020	$671B	$2.7B	248.5×	+170.7×	Dec 31, 2020
2019	$75.3B	$968M	77.8×	—	Dec 31, 2019
2018	$57.3B	-$221M	—	—	Dec 31, 2018
2017	$52.4B	-$4.14B	—	—	Dec 31, 2017
2016	$33.1B	-$1.56B	—	—	Dec 31, 2016
2015	$31.5B	-$2.16B	—	—	Dec 31, 2015
2014	$27.9B	-$1.03B	—	—	Dec 31, 2014
2013	$18.5B	-$3.34M	—	—	Dec 31, 2013
2012	$3.86B	-$505M	—	—	Dec 31, 2012
2011	$2.91B	-$312M	—	—	Dec 31, 2011
2010	$2.46B	-$168M	—	—	Dec 31, 2010
2009	$3.3B	-$92.7M	—	—	Dec 31, 2009
2008	$3.3B	-$69.3M	—	—	Dec 31, 2008


DraftKings (DKNG)	15.5×
Avery Dennison (AVY)	15.2×
Wynn Resorts (WYNN)	15.1×
NVR (NVR)	14.9×
Booking Holdings (BKNG)	14.7×
D.R. Horton (DHI)	14.2×
V.F. (VFC)	12.6×
Deckers Outdoor (DECK)	12.0×
Carnival Corporation (CCL)	11.9×
Lululemon Athletica (LULU)	11.6×
Toll Brothers (TOL)	11.1×
Hasbro (HAS)	9.8×
PDD Holdings (PDD)	9.5×
LKQ (LKQ)	9.3×
KB Home (KBH)	8.8×
Mohawk Industries (MHK)	8.4×
MercadoLibre (MELI)	8.2×
Best Buy Co. (BBY)	7.9×
Etsy (ETSY)	7.2×
Leggett & Platt (LEG)	6.6×
Weyco Group (WEYS)	6.2×
Expedia Group (EXPE)	6.0×
MGM Resorts (MGM)	5.5×
Ford Motor (F)	4.8×
General Motors (GM)	4.3×

P/FCF Ratio for Tesla (TSLA) 2019-2026

P/FCF Ratio daily chart for Tesla (TSLA)

Historical P/FCF Ratio for Tesla (TSLA) from 2008 to 2025

About P/FCF Ratio at Tesla (TSLA)

Tesla P/FCF Ratio by Year

Tesla P/FCF Ratio 2025: 233.6×

Tesla P/FCF Ratio 2024: 362.3×

Tesla P/FCF Ratio 2023: 181.4×

Tesla P/FCF Ratio 2022: 51.5×

Tesla P/FCF Ratio 2021: 308.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Tesla (TSLA) Key Financials