Tesla's Q2 financial report exceeded expectations! How far away is the stock price from $1000? (Follow, comment to receive 66 points)

$Tesla (TSLA.US)$After the market on July 20th,$Tesla (TSLA.US)$announced the second-quarter financial report. As one of the star stocks of the US stock market, Tesla's financial reports are always under close market scrutiny.

So,How does Tesla's latest Q2 report look? Did it exceed market expectations?Let's look at it from three perspectives.

In the second quarter, BYD Company Limited surpassed Tesla in deliveries, with a positive outlook for the second half of the year.

For electric vehicle companies,the most important indicators to observe are always production capacity and delivery volume.Tesla is no exception. In the second quarter of this year, Tesla delivered a total of 254,000 autos, compared to 310,000 in the first quarter, marking the first quarter-on-quarter decline in two years.

In contrast, one of Tesla's main domestic competitors in Shanghai delivered over 350,000 vehicles in the second quarter.$BYD Company Limited (002594.SZ)$sold over 0.35 million cars in the second quarter.The month-on-month growth rate exceeds 20%, surpassing tesla in terms of sales.

Tesla's production declined in the second quarter, mainly due to supply chain issues. In the first two months of the second quarter this year, Tesla's production at the Shanghai factory dropped significantly, while production capacity at the Texas and Berlin factories in usa grew very slowly.

However, in June of this year,Tesla's delivery volume rebounded strongly, reaching a historical high, with Musk still emphasizing the claim of annual delivery growth of over 50% in the coming years.Analysts expect Tesla's sales to rebound strongly in the second half of the year, with deliveries exceeding 0.35 million vehicles in the third quarter.

The gross margin has slipped below 30%, but still exceeds expectations.

In addition to delivery volume, we also need to observe the profit capabilities of car companies, mainly by observing the gross margin indicators.The gross margin of car companies is mainly related to vehicle prices and production scale.

In general,The higher the car price, the higher the potential profit margin, and the higher the gross margin may be.At the same time,The higher the delivery volume, the larger the production scale, the easier it is to generate economies of scale, the lower the production cost, and the higher the gross margin may be.

In the second quarter of this year, Tesla's delivery volume and production scale decreased due to supply chain reasons, coupled with the delayed ramp-up of production capacity at the Texas and Berlin factories in the USA, weakening the economies of scale and affecting profit levels.

At the same time,The price increase of Tesla's products is bullish for profitability,yet to some extent offset by inflation, therefore, in the second quarter of this year,Tesla's autos business gross margin has declined to 27.9%.

Since the third quarter of last year, Tesla's autos business gross margin has been over 30%, the margin performance in Q2 of this year is also the first time in nearly four quarters below 30%, but still exceeds the analyst's expectation of Tesla's Q2 gross margin of 26.9%. At the same time,Compared with competitors, Tesla's gross margin is still at a very high level.

Taking BYD company limited as an example, its gross margin in the past few quarters has been below 15%, less than half of Tesla's.This is mainly because BYD's average selling price is much lower than Tesla's, only about half of the latter. Therefore, even though BYD's delivery volume has surpassed Tesla,However, there is still a significant gap in profit levels relative to the team.

In the second half of this year, Tesla's Shanghai factory production capacity may potentially reach over a million units based on the current 0.75 million units. Production capacity in the USA in Texas and Germany will continue to increase, coupled with the rise in new order prices, Tesla's gross margin is likely to return to over 30%.

03 Net income exceeds expectations, stock price may usher in a rebound opportunity.

In the case of a sequential decline in sales volume and gross margin, Tesla's revenue in the second quarter was $16.93 billion, a decrease of about 10% from the first quarter's $18.76 billion, but an increase of about 42% from the same period last year, which is basically in line with analyst expectations. Net income was $2.26 billion, a decrease of nearly 1/3 compared to the previous quarter, an increase of about 98% year-on-year. At the same time, its earnings per share exceeded analyst expectations by nearly 30%.

Finance School continues to educate, generally speaking, performance can be analyzed from three dimensions: year-on-year, quarter-on-quarter, and comparison with market expectations.

Among them,Year-on-year compares with the same period the previous year, quarter-on-quarter compares with the previous fiscal quarter, and comparison with market expectations compares the company's actual performance with previous analyst expectations.

In terms of importance,The comparability of year-on-year data is relatively weak.，The timeliness of month-on-month data is relatively stronger.The centrality of reference is medium, while market expectations will adjust based on company business data, which is the most time-sensitive and therefore the most important.

For star stocks in the US stock market, you can view financial estimate data on the Futubull financial estimates page.

Looking at the performance data of Tesla, its net income has declined significantly on a monthly basis, but this decline was already anticipated in the market expectations, and has been reflected in the stock price earlier. Tesla's stock price dropped nearly 40% from its high in the second quarter, largely due to the impact of lower deliveries and expected decline in net income. Now that Tesla's actual profit data exceeds expectations, the stock price may also see a rebound opportunity.

After watching today's content, have you gained a better understanding of financial report analysis?Now, let's start the challenge to earn points.

Which dimension among the following options is used to analyze the timeliness of business performance the most effectively?

A. Year-on-year

B. Quarter-on-quarter

C. Market expectations

Welcome to provide your answer in the comments section, and explain the reasons.

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