Tesla released its 2023 financial report today. The company’s total revenue in the fourth quarter was US$25.167 billion, a year-on-year increase of 3%; for the full year, Total revenue was US$96.773 billion, a year-on-year increase of 19%.
profit
GAAP (U.S. GAAP) operating profit in 2023 was US$8.9 billion (currently approximately RMB 63.724 billion); fourth quarter GAAP operating profit was US$2.1 billion (currently approximately RMB 15.036 billion);
GAAP net profit in 2023 is US$15 billion (currently approximately RMB 107.4 billion); fourth quarter GAAP net profit is US$7.9 billion (currently approximately RMB 56.564 billion);
Non-GAAP net profit in 2023 was US$10.9 billion (currently approximately RMB 78.044 billion); non-GAAP net profit in the fourth quarter was US$2.5 billion (currently approximately RMB 17.9 billion);
A one-time non-cash tax benefit of $5.9 billion in the fourth quarter resulted from a reduction in the valuation allowance for certain deferred tax assets.
cash
Operating cash flow in 2023 is US$13.3 billion (currently approximately RMB 95.228 billion), and free cash flow in 2023 is US$4.4 billion (currently approximately RMB 31.504 billion);
Operating cash flow in the fourth quarter was US$4.4 billion (currently approximately RMB 31.504 billion), and free cash flow in the fourth quarter was US$2.1 billion (currently approximately RMB 15.036 billion);
In the fourth quarter, Tesla's cash and investments increased by $3 billion quarter-on-quarter (currently approximately 21.48 billion RMB) to $29.1 billion (currently approximately 208.356 billion RMB).
According to reports, Tesla delivered more than 1.2 million Model Y vehicles in 2023, and Model Y became the best-selling model among all vehicle categories in the world. In addition, the company is focusing on future growth projects. This year’s capital expenditures and R&D expenses reached the highest value in the company’s history. Even so, free cash flow in 2023 is still strong, reaching US$4.4 billion.
Tesla also revealed that Tesla’s total energy storage installed capacity reached 14.7 GWh in 2023, more than double that in 2022; profits from the energy generation and storage business almost quadrupled in 2023; services and The gross profit of other businesses will increase from negative US$500 million in 2019 to US$500 million in 2023.
