Tesla FCF: Expect a monster beat in 3Q... And a rapidly growing cash pile beyond
From early on (spring 2018) our team has published unique research about how Tesla generates cash, and we have several times anticipated cash movements that wall street analysts missed.Today, we publish a deep dive into the matter, explaining how we understand Tesla’s cash generation, evaluating how much our model matches actuals, and anticipating what our work implies for Tesla: for the near term (monster FCF beat in the third quarter) and the longer term (Tesla accumulating enough cash this decade to drive the financing of the energy transition).
Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
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- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
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