저자: ParkevTatevosian,CFA · 외국인
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테슬라와 리비안을 매출, 매출총이익률, 시가총액, 현금성자산, 영업현금흐름, 주가매출비율(PSR) 등 6개 지표로 비교. 매출·이익률·영업현금흐름·PSR에서 테슬라가 우위, 시가총액 성장여력은 리비안이 우위, 현금성자산은 동률로 평가. 종합적으로 테슬라를 현 시점 더 나은 EV 주식으로 제시하며, 추천은 분기 데이터에 따라 바뀔 수 있다고 명시.
다듬은 글
hi everyone in this video I'm going to answer the question which EV stock is a better one to buy Tesla stock or rivian stock I'm going to compare the two using several different metrics and try to equalize them put them on similar footing although they are uh in different stages in their growth Cycles Tesla is further along in their development while rivian is a much younger company so let's get right into it I think I'm gonna look at here is the revenue between the two companies you'll notice here that Tesla in its most recent quarter delivered revenue of 21.45 billion dollars whereas rivian just did 500 million so very big difference here in terms of Revenue and you can also see Tesla's Revenue has been growing nicely and I'm just looking at a chart here for one year if I extended it out further you would see Tesla's revenues growing very nicely year over year over the past several years so Advantage will go to Tesla here in terms of quarterly Revenue the next metric I will look at is gross profit margin so this is how much profit Tesla makes off of each car versus how much rivian makes off of each car Tesla's gross profit margin was 25 percent in the most recent quarter where rivienne was negative 171 percent that negative figure can be a little misleading because rivian is not producing in the quantities anywhere near what Tesla is producing at Tesla has achieved robust economies and scale and so is delivering um Best in Class really gross profit margins entire in across the entire electric vehicle space Tesla has achieved a nice scale here after several years of expanding production adding new facilities learning from their mistakes and growing whereas rivien hasn't yet reached that level it's hoping to get there but it hasn't gotten there yet so Tesla gets the advantage here in terms of gross profit margin the next metric I look at is the market cap just to show the difference between the size of the company's Tesla's market cap is 567 billion dollars where rivian is just 27.7 billion both companies have came down off their highs Tesla was formerly a 1.2 trillion dollar market cap company and it's it's more than halved down to 567 billion so investors can get both of these stocks at cheaper prices than the than their Highs but still neither of them is is is cheap apps on absolute terms they're just cheap if you compare it to their previous highs here in this regard I would give rivian the advantage because rivian has more room to grow more room to expand whereas Tesla's market cap is already 567 billion dollars it doesn't have much room to 5x or 10x from here whereas rivian could potentially 5x or 10x or even 20x it's market cap from here so in terms of long-term profit potential I would give rivian the advantage in market cap and the next metric I look at is cash and equivalence on the balance sheet this is more important for rivian I would say than Tesla because Tesla has achieved positive cash flows it's not burning through cash whereas rivian is still burning through cash still rivian has a nice Bank of 13 billion dollars in cash and equivalents to get itself to reach the economies and scale that Tesla has reached Tesla itself is not too shabby with cash in equivalence of 19.5 billion so in this regard I wouldn't uh it's an even uh battle here in terms of cash and equivalence on the balance sheet it especially if we look proportionally rivian is a smaller market cap company with 13 billion whereas Tesla is a much larger market cap with 19 billion so I would give it I would give these two EV stocks a tie in terms of cash on the balance sheet and the next metric I look at is cash flow from operations and what I have here is a five-year history going all the way back to 2018.
of course with rivian we only have history going back to the middle of 2021 with Tesla we have a longer history it's been public for a longer time frame well you could see from Tesla here in the purple is solidly expanding cash flows from operations which is excellent if you're an investor this is what you like to see growing cash flows from operations in 2018 it was barely positive and in its most recent quarter you see 5.1 billion in cash flow from operations whereas rivian is going in the opposite direction started slightly negative and as it ramped up production expanded output its cash flows in its most recent quarter were negative 1.4 billion so in this regard Tesla has the advantage right now now although rivian could potentially reach these levels this is where rivian hopes to be it's just not there yet it's just too young of a company it's not there yet Tesla gets the advantage here in terms of cash flow from operations and finally I look at valuations and since rivian has negative cash flows and negative earnings I chose to compare these two in valuation using the price to sales ratio and we could see here both of the valuations have came down significantly Tesla has came down from above uh close to a 30 price to sales ratio down to 8.2 and rivian has came from a price to sales ratio above 60 down to 25.96 overall rivian is trading at a price to sales ratio more than three times that of Tesla and that's partly due to the fact that rivian has better growth potential than Tesla rivian's going to grow at a faster rate at least in the near term compared to Tesla and so investors are willing to pay a premium for rivian in terms of price to sales because they're going to increase their sales at a more rapid clip compared to Tesla so in this regard it's hard to make an evaluation of Distinction because these two companies are in such different phases in their growth cycle but if if I had to choose I would give Tesla the slight Advantage here with the price the sales of 8.2 being a better valuation than a price to sales of near 26.
all right so now that I've looked at all of the metrics and concluded with the valuation it's time to decide which is a better EV stock to buy right now Tesla or rivian stock but before I give this recommendation this is where I like to ask you all to subscribe to the channel because this recommendation is not going to be static it's not going to stay the same next quarter we might get some new data that changes this recommendation and so I will have updates on my channel and you're going to want to stay tuned and know when this changes and when the recommendation flips over to the other one so please subscribe to the channel you'll get the updates okay so that said it's time to answer the question which is the better EV stock to buy right now and I would say it is Tesla Tesla is the better EV stock to buy right now the company has achieved robust economies in scale gross profit margin is industry leading in the electronic vehicle space cash flow from operations is increasing and very solid at 5 billion per quarter valuation is down from its highs so between these two between rivian stock and Tesla stock I would say Tesla is the better EV stock to buy right now all right thank you for watching and I'll see you next time
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