YicheXun recently learned from Tesla officials that it has released the revenue report for the fourth quarter of 2021, and in the financial report released this time, Tesla achieved revenue of $17.72 billion, operating profit of $2.6 billion, net income of $2.3 billion and earnings per share of $2.05 in the fourth quarter of 2021, operating cash flow (free cash flow) of $2.8 billion in the fourth quarter, cash and cash equivalents totaling $17.6 billion in the fourth quarter, an increase of $1.5 billion, and 940,000 vehicles delivered in 2021.
Specifically, Tesla's revenue for the quarter was $17.72 billion, up 65 percent from $10.744 billion in the year-ago quarter and higher than analysts' consensus estimates of $16.57 billion, driven by increases in vehicle deliveries and other businesses;
Operating income of $2.6 billion, operating margin of 14.7%, up from 5.4% in the year-ago quarter, and net income of $2.3 billion, non-GAAP net profit (excluding share-based expenses) of $2.9 billion;
Earnings per share were $2.05, up 754% from $0.24 in the year-ago quarter, higher than the analysis was generally expected at $2.36;
Electric vehicle deliveries reached 308,650 and full-year deliveries were 936172 vehicles, up 87 percent from 2020.
Cash and cash equivalents increased by $1.5 billion and liquidity of $2.8 billion in the fourth quarter, partially offset by net debt and financial lease repayments of $1.5 billion. Total debt (excluding financing for automotive and energy products) fell to $1.4 billion by the end of 2021.
In terms of production capacity, Tesla said it expects the average annual growth rate of vehicle deliveries to reach 50% in the coming years. The growth rate will depend on their equipment capacity, operational efficiency, and supply chain capacity and stability. Due to supply chain and other constraints, Tesla's own factory has been operating at low load for several consecutive quarters, which is likely to continue throughout 2022.
In the future, Tesla plans to increase production capacity as quickly as possible, not only from new factories such as Austin and Berlin, but also to existing factories such as Fremont and Shanghai.
Fully autonomous driving capability (FSD) remains one of the focus areas. Over time, software revenue will contribute to overall profitability to a greater extent. More importantly, fully autonomous driving capabilities are an important part of improving car safety, and will play a more important role through the increase in Tesla vehicle utilization.