I’m still shocked that Tesla income is just 2.3B, compared to like, Meta who reports 62.3B net income. I didn’t realize how tiny Tesla is for the amount of media attention and stock valuation they have. Even amongst automakers they are tiny. Toyota had like 32B net income.
Where did you get that Meta number from? Meta's revenue for the last quarter was 48.38B, and net income is 20.84B (and it was less in previous quarters). Tesla revenue was 25.71B. Revenue is better in comparing how "big" a company is, but it's kinda apples to oranges comparison when one company is making physical products, while the other operates websites and other services (Tesla has nearly two times more employees, for example). For Toyota I see $12.5B net income and $152.2B revenue for Q3 2024 (dwarfing Tesla). I agree that Tesla valuation is completely disconnected from its revenue and income.
EDIT: I guess that your Meta income number is yearly and it checks out. The article says that Tesla "reported $2.3 billion in income" but I think they got that number for the last quarter, because even in the SEC document linked in the article[0], page 49, I see $7B net income, the same number as in their earnings release[1]. But the SEC document also lists $1.8B taxes for the year 2024, so that seems to contradict the headline of the article, but they're talking only about US federal taxes, I guess most of these taxes is non-US or state.
EDIT2: Yes, on page 81 it's listed that they paid 0 federal taxes, $45M state taxes, and $1.3B foreign taxes. $2.3B in income for whole 2024 is US only, $7B is global.
