Tesla will announce its results for the first quarter of 2023 after the market on April 19 EST.
As a much-anticipated electric vehicle giant, what are the key points to focus on in the first quarter earnings report? What is the value of Tesla's investment?
1. What should we focus on in the 23Q1 earnings report?
First, judging from Tesla's revenue structure, the automobile business is still the core focus. By the end of 2022, the automobile business accounted for 95.2% of revenue, which is Tesla's main source of revenue and the focus of our analysis. The vast majority of this is hardware car sales revenue, and a small portion is FSD software subscription revenue.
The current revenue share of the energy storage and power generation business is relatively small, about 4.8%, but the potential for long-term development is huge. When judging Tesla's long-term investment value, the energy storage and power generation business should be taken into consideration.
Overall, analyzing Tesla's performance and investment value should focus on the following points:
1) In the short term, we should focus on changes in automobile sales, bicycle prices, and upstream raw material costs to judge the company's overall revenue and profit situation; in particular, we need to pay attention to whether the company's market position is stable under fierce market competition to judge the company's growth;
2) In the long run, we should focus on the sustainability and high growth of software subscription services supported by the expansion of automotive hardware sales; at the same time, the huge increase brought about by the long-term energy storage and power generation business should not be underestimated.
2. Tesla hardware car sales - the core driving force
Tesla has already revealed the 23Q1 car...