{
  "units": "USD million except per share, shares and percentages",
  "annual_columns": [
    "revenue",
    "gross_profit",
    "ebit",
    "net_income_common",
    "cfo",
    "capex",
    "cash_and_short_term_investments"
  ],
  "annual": {
    "2021": [
      53823,
      13606,
      6523,
      5519,
      11497,
      6514,
      17707
    ],
    "2022": [
      81462,
      20853,
      13656,
      12556,
      14724,
      7163,
      22185
    ],
    "2023": [
      96773,
      17660,
      8891,
      14997,
      13256,
      8899,
      29094
    ],
    "2024": [
      97690,
      17450,
      7076,
      7091,
      14923,
      11342,
      36563
    ],
    "2025": [
      94827,
      17094,
      4355,
      3794,
      14747,
      8527,
      44059
    ]
  },
  "annual_margins": {
    "2021": [
      "25.2791557512587555506010441632759229",
      "12.1193541794400163498875945227876558"
    ],
    "2022": [
      "25.5984385357590041982764970170140679",
      "16.7636443986153052957207041319879207"
    ],
    "2023": [
      "18.2488917363314147541153007553759830",
      "9.18747997891974001012679156376261974"
    ],
    "2024": [
      "17.8626266762206981267274030095199099",
      "7.24332070836318968164602313440474972"
    ],
    "2025": [
      "18.0265114366161536271315131766269101",
      "4.59257384500195092115114893437523068"
    ]
  },
  "quarters": {
    "2025Q3": [
      21205,
      3415,
      3475,
      28095,
      5054,
      1624,
      1373,
      6238,
      2248,
      17590,
      2342,
      3109
    ],
    "2025Q4": [
      17693,
      3837,
      3371,
      24901,
      5009,
      1409,
      840,
      3813,
      2393,
      14080,
      2739,
      3073
    ],
    "2026Q1": [
      16234,
      2408,
      3745,
      22387,
      4720,
      941,
      477,
      3937,
      2493,
      12812,
      1456,
      3399
    ],
    "2026Q2": [
      20516,
      3139,
      4581,
      28236,
      4751,
      398,
      1114,
      4697,
      5789,
      17053,
      2499,
      3933
    ]
  },
  "quarter_margins": {
    "2025Q3": [
      "17.0478660693232728130157981608111295",
      "31.4202049780380673499267935578330893",
      "10.5323741007194244604316546762589928"
    ],
    "2025Q4": [
      "20.4205052845758209461368902955971288",
      "28.6161063330727130570758405003909304",
      "8.84010679323642835953722930881044201"
    ],
    "2026Q1": [
      "21.0792164592829863249969200443513613",
      "39.5348837209302325581395348837209302",
      "9.23898531375166889185580774365821095"
    ],
    "2026Q2": [
      "16.8795086761551959446285825697016962",
      "20.3886588085377508760751831793564830",
      "14.1453831041257367387033398821218075"
    ]
  },
  "profit2036_components_billions": [
    [
      [
        100,
        ".03"
      ],
      [
        40,
        ".10"
      ],
      [
        3,
        ".30"
      ],
      [
        0,
        ".20"
      ],
      [
        -1.9,
        "1"
      ]
    ],
    [
      [
        180,
        ".06"
      ],
      [
        100,
        ".12"
      ],
      [
        40,
        ".35"
      ],
      [
        10,
        ".20"
      ],
      [
        -3.8,
        "1"
      ]
    ],
    [
      [
        300,
        ".08"
      ],
      [
        180,
        ".15"
      ],
      [
        150,
        ".40"
      ],
      [
        80,
        ".20"
      ],
      [
        -7,
        "1"
      ]
    ]
  ],
  "metrics": {
    "price": "354.72",
    "shares": "3949547394",
    "market_cap_m": "1400983.45159968",
    "net_cash_ex_operating_leases_m": "34182",
    "net_cash_including_leases_m": "27444",
    "pe_current_shares": "368.292179705488958990536277602523659",
    "pe_diluted_eps": "328.444444444444444444444444444444444",
    "ps": "13.5205266563051177872783948889682394",
    "ev_sales": "13.2556717551769463129348864590470860",
    "fcf_yield_percent": "0.411282516822079221199976567482521999",
    "pb": "16.1295845126491514886366252964608902",
    "musk_voting_total_percent": "17.7129380207660321090452522874574220",
    "musk_award_inclusive_percent": "28.4418611536732454260555203252740104",
    "q3_delivery_yoy_percent": "-2.12573350580065540264615297958756710",
    "q2_auto_yoy_percent": "23.1378668747374107196446791909249140",
    "q2_energy_yoy_percent": "12.5493008246683399067766224453209040",
    "q2_services_yoy_percent": "50.3939592908732764281024294156270520",
    "reverse_growth_percent": "52.4546074778298976037927382052938130",
    "reverse_terminal_profit_m": "271309.832126750015702821464276590868",
    "required_terminal_profit_no_distribution_m": "340969.869737788838987638799923378010",
    "prob_weighted_pv3": "159.316013452824355424378950973870192",
    "prob_weighted_irr": "-15.2724437279330155944666213401509819",
    "buy_threshold_25pct_safety": "96.3029633558117372341395151409215342",
    "q2_energy_margin": "20.3886588085377508760751831793564830",
    "q2_services_margin": "14.1453831041257367387033398821218075",
    "q2_auto_margin": "16.8795086761551959446285825697016962",
    "sbc_adjusted_ttm_cash_m": "1964",
    "pe_standardized_eps_numerator": "368.098647293662637940094587493431424"
  },
  "scenarios3": [
    {
      "label": "悲观",
      "profit2029_m": "5000",
      "pe3": "25",
      "growth": "0.09540948899782345446321440447837321",
      "target2029": "31.6491961053297338910221468277942128",
      "pv3": "23.7785094705707993170714852199806257",
      "prob": "0.35",
      "g": "0.01"
    },
    {
      "label": "基准",
      "profit2029_m": "15000",
      "pe3": "45",
      "growth": "0.57985386481776866712807892298869023",
      "target2029": "170.905658968780563011519592870088749",
      "pv3": "128.403951141082316312186020187895379",
      "prob": "0.45",
      "g": "0.025"
    },
    {
      "label": "乐观",
      "profit2029_m": "35000",
      "pe3": "70",
      "growth": "1.09544296940870476682565263068876628",
      "target2029": "620.324243664462784264034077824766571",
      "pv3": "466.058785623187666614601110311620264",
      "prob": "0.20",
      "g": "0.04"
    }
  ],
  "scenarios10": [
    {
      "label": "悲观",
      "profit2036_m": "6000.00",
      "g": "0.01",
      "pe": "10.5555555555555555555555555555555556",
      "irr_percent": "-27.6297609477075800109918570863740071",
      "prob": "0.35"
    },
    {
      "label": "基准",
      "profit2036_m": "35000.00",
      "g": "0.025",
      "pe": "11.6666666666666666666666666666666667",
      "irr_percent": "-12.5987954238911742932438329332650419",
      "prob": "0.45"
    },
    {
      "label": "乐观",
      "profit2036_m": "120000.00",
      "g": "0.04",
      "pe": "13.3333333333333333333333333333333333",
      "irr_percent": "0.33715272257832920670126730024594700",
      "prob": "0.20"
    }
  ]
}