Before its nearly 6% drop on Friday September 4, Tesla had a market capitalization of approximately 1.5 trillion dollars, surpassing that of all its listed automotive competitors combined, valued at around 1.45 trillion dollars. After this correction, the American manufacturer’s market cap fell to approximately 1.4 trillion dollars, falling slightly below the combined total of other industry players. At the end of 2020, Tesla was worth approximately 669 billion dollars, barely more than the next seven largest manufacturers combined. The company’s price-to-earnings ratio stands at around 344, an atypical multiple for the automotive sector explained by Elon Musk’s promises around autonomous robotaxis, the Optimus humanoid robot, and artificial intelligence. In 2025, 87% of Tesla’s 94.8 billion dollars in revenue still came from automotive, meaning the market is paying ahead for activities that do not yet exist in the company’s accounts.
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