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Is Tesla Stock Priced For Its Earnings Or Its Robots?

Tesla (TSLA) stock trades at about $364, roughly 169 times its adjusted earnings over the past twelve months, meaning normalized net income with stock-based compensation added back. On analysts' own 2027 estimates, the multiple is still steep. So the price leans on wider margins and on products still early in their ramps.

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Earnings· September 11, 2026 at 05:05 PM
Authored by·Editorially reviewed
Onur Erkan Yıldız
Founder, Financial Engineer · CMB-licensed
NeutralMedium impact

AI summary

Tesla (TSLA) stock trades at about $364, roughly 169 times its adjusted earnings over the past twelve months, meaning normalized net income with stock-based compensation added back. On analysts' own 2027 estimates, the multiple is still steep. So the price leans on wider margins and on products still early in their ramps.

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