분석: Tesla는 Ford 및 GM보다 부채가 훨씬 적고 총 마진은 훨씬 높습니다

조나 크라이더와 데릴 엘리엇

I was recently given some detailed research by Daryl Elliott, who discovered that Tesla has less debt than Ford or GM. All three are American automakers and last year, Tesla went on to have the largest market cap out of those two as well as all other global automakers.

Before I dive into the analysis, I want to quickly define some terms that are used.

Long-term debt: portion of a company’s debt which is due in more than 1 year,
Current debt: portion of a company’s debt which is due within 1 year,
Net debt: determines how well a company can pay all of its debts if they were due immediately
Cash-equivalents: include cash and any liquid securities with maturity periods of 90 days or less.

Given the fact that we are now in Q2 of 2021 and all three of these companies will be announcing updated financial data, the numbers below are subject to change. For now and for the sake of the article, I’ll use what I have and paint a rough sketch.

On another note, I’m including the market caps for each of the companies as they are today (July 19 as I’m writing this). By the time this is published, those numbers will have changed due to the day-to-day performances of the markets.

테슬라

Long-term debt: $9.56 billion
Current debt: $2.13 billion
Total debt: $11.69 billion

2월 2021에서, 벤 징가 published an overview of Tesla’s debt, citing a balance sheet published on February 8, 2021. That debt was at a total of $11.69 billion, with $9.56 billion in long-term debt and $2.13 billion in current debt. Given that we are mere days away from Tesla’s Q2 earnings call, those numbers are likely to change.

As of July 22, 2021 (before opening), Tesla’s market cap was $631.26 billion, making it the 9th most valuable company by market cap. That number also fluctuates due to Tesla’s performance in the market. In 2020, Tesla’s market cap jumped up 783.42%, compared to its 31.82% jump in 2019, which is clearly a signal that the company is growing. So far this year, Tesla’s down 5.39%.

2020년 테슬라의 총 수익 31.5억 달러였으며 순수익 721억 2020만 달러였다. XNUMX년 총 마진은 21%.

제너럴 모터스

Long-term debt: $72.98 billion
Current debt: $36.91 billion
Total debt: $108.89 billion

야후! 재원 noted that GM’s most recent financial statement reported on February 10, 2021, showed a total debt of $109.89 billion, with $72.98 billion in long-term debt and the remaining $26.91 billion in current debt. Adjusting for $19.99 billion in cash equivalents, GM has a net debt of $89.90 billion.

22월 82.76일(개장 전) GM의 시가총액은 XNUMX억XNUMX만 달러였다. 그것은 총 수익 2020년에는 122억 달러였으며 순수익 수입 이자 및 세금(EBIT) 전 금액은 9.7억 달러였습니다. 총 마진은 11.2%.

포드

Long-term debt: $103.20 billion
Current debt: $49.47 billion
Total debt: $152.67 billion

벤 징가 noted that Ford’s financial statement released on April 29, 2021, showed that its long-term debt is at $103.20 billion and current debt is at $49.47 billion, with a total debt of $152.67 billion. When adjusting for $21.83 billion in cash equivalents, Ford’s net debt is at $130.83 billion.

22월 55.64일(개장 전) 현재 포드의 시가총액은 344억2020만 달러로 시가총액 기준으로 127번째로 가치가 높은 기업이다. Ford의 XNUMX년 총 수익은 총 XNUMX억 달러를 조금 넘었습니다. Statista가 언급했습니다. 전년 대비 22% 감소했다. Ford의 2020년 순수익 EBIT는 $ 2.8 억 2020년 총 마진은 11.3%.

Tesla’s Debt Is The Least Of The 3

And that’s not all. Not only do Ford and GM have more debt than Tesla, but Tesla’s market cap is much larger than both of theirs combined. As we go deeper into the decade and eventually look back to this point — just past the entrance — I think we will see just how far Tesla is able to go and how fast it truly is growing.

올해 XNUMX월에 나는 그것에 대해 자세히 설명하는 기사를 썼다. 테슬라는 빠르게 성장하고 있었습니다. 그것은 몇몇 분석가들을 잃게 만들었다. 대부분의 분석가는 Tesla의 미래를 예측하려고 노력하면서 과거 몇 년 동안의 Tesla 재무 데이터를 살펴보지만 많은 외부 요인을 고려하지 않습니다. 이것은 대부분의 회사에 적합할 수 있지만 Tesla에는 그다지 적합하지 않습니다. Tesla를 분석할 때 Tesla가 성장 단계에 있다는 점을 고려하면서 표준 재무적 관점과 사명의 관점에서 회사를 바라볼 필요가 있습니다.

Keeping this in mind, Tesla is literally pouring all of its extra money into its growth. In addition to that, it’s had a record 2021. It sold out of cars towards the middle of Q2 and it’s had the highest sales and deliveries yet in the first half of the year. In Q1, it had its highest sales/deliveries in a single quarter, in a quarter that is normally low in both. In Q2, it beat that.

When you compare the data for a company that is new and growing at incredible speeds to data from two other companies in the same field that have at least 100 years on the new company, it shows that Tesla is conserving its funds for growth and operations while the other two are having to spend billions on paying back debts.