Please see the image of Tesla cash flows below. Equity holders were valuing TESLA in excess of $345 per share so they must expect to over the coming years. TESLA INC Equity TSLA US $ On 20 TSLA US Equity ADJ Tesla Inc FA Related Functions Menu 345.10 -6.71 0345.09/345.100 Oct c Vol 4,930,395 0 352.69P H 354.550 L 344.347 96) Actions 97) Output 98) Settings 9 Ratios Segments D Key Stats DB/5 ID Standardized 21/5 12 As Reported In Millions of USD except Per Share 12 Months Ending Cash from Operating Activities Net Income Depreciation & Amortization Non-Cash Items kil Lil C/F + Stock-Based Compensation Other Non-Cash Adj Chg in Non-Cash Work Cap (Inc) Dec in Accts Receiv . (Inc) Dec in Inventories Inc (Dec) in Accts Payable + Inc (Dec) in Other Net Cash From Disc Ops La Cash from Operating Activities Cash from Investing Activities Change in Fixed & Intang + Disp in Fixed & Intang Disp of Fixed Prod Assets Disp of Intangible Assets Arn of Elvad. Intann FY 2012 FY 2013 12/31/2012 12/31/2013 -396.2 28.8 68.3 50.1 18.1 33.0 -17.3 -194.7 245.1 0.0 -266.1 -239.2 0.0 0.0 220 2 -74.0 106.1 352.7 80.7 271.9 -119.9 -21.7 -460.6 362.3 0.0 264.8 -264.2 0.0 0.0 2642 Addl FY 2014 12/31/2014 4 Periods 10 Annuals DESG Custom -294.0 231.9 568.6 156.5 412.1 -563.8 -183.7 -1,050.3 670.1 0.0 -57.3 -969.9 0.0 0.0 0.0 040.0 FY 2015 12/31/2015 -888.7 422.6 876.5 198.0 678.5 -934.9 46.3 -1,573.9 592.7 0.0 -524.5 45x97 -1,634.9 0.0 0.0 0.0 16240 Val 1.7148 Financial Analysis Currency USD Message CO FY 2016 Last 12M- 12/31/2016 06/30/2017 -674.9 947.1 704.0 334.2 369.8 -1,100.0 -213.1 -2,465.7 1,578.8 0.0 -123.8 -1,280.8 0.0 0.0 0.0 790 8 -1,341.6 1,712.9 1,550.1 554.0 996.1 -2,315.2 -136.1 -3,586.9 1,407.7 0.0 -393.8 -2,792.5 0.0 0.0 0.0 2.707 S