Tesla Joins Fortune 500 For First Time

Tesla

JUN 9 2017 BY STEVEN LOVEDAY 12

Tesla

Tesla Model 3

Tesla ranks No. 4 of all new companies on the Fortune 500 list.

It’s a big year for the Fortune 500 list, with a total of 20 new companies. Of the 20 newbies, there are 100 year-old companies, brand-new startups, and everything in between. In terms of business type/model, the list of newcomers couldn’t be more varied.

Some are simply the result of company splits, or spin offs of other companies previously on the list, but 15 are completely new. This also means that 15 companies have been removed from the list, or were acquired or combined, and now don’t exist on the list as separate entries.

Tesla

Model S and Model X at the factory in Fremont, California

This year, Fortune required a minimum of $5.1 billion in annual revenue to make the cut. According to the publication, Tesla’s 2016 revenue was $7.1 billion (an increase of 73 percent year-over-year), putting it in the fourth slot among all new companies.

This is not to say that Tesla doesn’t have a long way to go to contend with those that top the Fortune 500 list. The electric automaker sits at No. 383 on the list of 500, despite surpassing the current market cap of both Ford and General Motors. GM is No. 8 on Fortune’s coveted list, trailed by Ford at No. 10. Remember that even though the electric carmaker has a higher market value than these traditional automakers, sales figures tell a completely different story.

Fortune journalist, Scott Cendrowski, points to the Silicon Valley automaker’s recent growth in China as a substantial factor, which helped Tesla make the list this year. He estimates that Tesla sales in China could easily escalate to over 100,000 per year soon enough.

According to Fortune’s stats, Tesla shows a profit of -$674.9 million, and employs over 30,000.

Source: Fortune

Categories: Tesla

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12 Comments on "Tesla Joins Fortune 500 For First Time"

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Bacardi
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Bacardi

Pretty soon anyone who invests in index funds will soon have a vested in Tesla whether or not they want to…

Innovation = winner…

floydboy
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floydboy

The ‘Tesla Bears Club'(Yes there is such a thing, truly an alternate universe) don’t seem to be having much of an effect in quashing enthusiasm.

Gary
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Gary

Indeed.
Their devious plan to manipulate the stock price by posting in the comments section of websites seems to have failed.
There does, however, seem to plenty of Kool-Aid still available, so maybe all hope is not lost and they will come see the light …..

Pushmi-Pullyu
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Pushmi-Pullyu

But the Tesla bashing bears have their own brand of Kool-Aid. Just drink that, and you’ll realize that Tesla is just a sham company, whose cars are merely props in an elaborate confidence game to bilk Wall Street of billions, one supported by fraudulent SEC filings. The scheme called “Tesla” will collapse any day now. /sarcasm

It must be eternally frustrating to these bashers to see Tesla defying all their predictions, growing every year instead of collapsing as they predict on a weekly or even daily basis.

😀 😀 😀

Go Tesla!

Ron M
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Ron M

Just read an article where the shorts have lost 5 billion so far this year. I don’t hear much from Jim Chanos anymore I wonder if anyone still follows his advice hahaha. Lost 550 million since June 3, 2017.
Great investment advice.

SJC
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SJC

Tesla could have few bumps in the road ahead, problems with the Reno factory, can not deliver quantities of Model 3 on time, running out of tax credits…high market cap could correct.

Pushmi-Pullyu
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Pushmi-Pullyu

Well, by any rational analysis, Tesla price is strongly overpriced, and has been for years. If the stock market was rational, then the stock shorters would be right; the price would drop steeply down to a level rather closer to the enterprise value.

But then, if the stock market worked on a rational basis, Tesla stock never would have climbed anywhere near this high, and it wouldn’t be a tempting target for stock shorters.

As it is, it seems to me (and I’m not an investor, so take this with at least a pinch of salt) that the movement of Tesla’s stock price is strongly decoupled from the performance of the company, and is mostly controlled by heavy speculation in the stock. That being the case, even if Model 3 production is seriously delayed, or even if a real disaster occurs at the company, I’m not at all sure it would have much effect on the stock price.

ffbj
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ffbj

I think this video, which is well done imho, explains one of the reasons Tesla will succeed.
It’s like they are the ’57 Chevy or the short-block ’38 Ford. They made a great car that the in the know early adopters covet.

As far as the stock price goes, I think is substantially over-valued, but if the Model 3 debut goes off without a hitch, then maybe not. Whatever way you look at it shorts are taking a bath.

It’s my belief that the shorts made fundamental errors in their analysis, by discounting their personal bias, which acted as blinders not allowing them to see anything positive concerning Tesla.
Thinking, they were using “logical thought”, it was anything but.

Pushmi-Pullyu
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Pushmi-Pullyu

“Thinking, they were using ‘logical thought’, it was anything but.”

I see what you did there. 🙂

ffbj
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ffbj

I figured you would catch it.
Little inside joke there. Low & inside.

ffbj
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ffbj

Also:Tesla surpassed BMW on Friday to become the world’s No. 3 automaker by market capitalization. Elon Musk’s electric car maker’s market value hit $60 billion as BMW’s stood at $54.85 billion. –AP

Mark.ca
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Mark.ca

To say that they are overvalued it’s an understatement. They need to expand production fast and become financially stable by the time next market downturn will come in….otherwise some nervous times will come for longs.