Reminder: there are 3 macro financial trends in $TSLA: growth, decl. leverage, and efficiency. The #1 knock on autos is its capital intensity. But these findings confirm what we've postulated for some time: the return on invested capital of Model Y and MiC 3 will lead the world. https://twitter.com/jpr007/status/1281559001650483200
The trend has already started: Tesla's FCF ROIC - using free cash flow rather than net income in the numerator - has now surpassed the group avg consisting of $TM $GM $VWAGY $F and $FCAU. This is only the beginning - it'll be embarrassingly distant by 4Q20.
The people in media & twitter who shrug their shoulders and chalk up this meteoric rise in $TSLA to market irrational exuberance or retail Robinhood traders haven't actually looked at any of these financials, or refuse to.

It's truly rare to see all 3 happening simultaneously.
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