- Use the 2017 to 20191 income statement data in the individual assignment folder to calculate the Return on Revenue profitability ratio for Tesla and four of its major competitors (Ford, General Motors, Honda, and Toyota) and determine if Tesla had a competitive advantage during this timeframe. Produce a professionally prepared chart to convey this analysis and also explain your conclusion about whether Tesla had a competitive advantage based on this chart.
FORD MOTOR COMPANY AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT (in millions, except per share amounts) For the years ended December 31, 2017 2018 2019 Revenues Automotive 145,653 $ 148,294 143,599 Ford Credit 11,113 12,018 12,260 Mobility 10 26 Total revenues (Note 4) 156,776 160,338 155,900 Costs and expenses Cost of sales 131,321 136,269 134,693 Selling, administrative, and other expenses 11,527 11,403 11,161 Ford Credit interest, operating, and other expenses 9,047 9,463 9,472 Total costs and expenses 151,895 157,135 155,326 Operating income 4.881 3.203 574 Interest expense on Automotive debt 1,133 1,171 963 Interest expense on Other debt 57 57 57 Other income/(loss), net (Note 5) 3,267 2,247 (226) Equity in net income of affiliated companies 1.201 123 32 Income/(Loss) before income taxes 8, 159 4,345 (640) Provision for/(Benefit from) income taxes (Note 7) 402 650 (724) Net income 7,757 3,695 84 Less: Income attributable to noncontrolling interests 26 18 37 Net income attributable to Ford Motor Company 7,731 $ 3,677 47 EARNINGS PER SHARE ATTRIBUTABLE TO FORD MOTOR COMPANY COMMON AND CLASS B STOCK (Note 8) Basic income 1.94 0.93 0.01 Diluted income 1.93 0.92 0.01 Weighted-average shares used in computation of earnings per share Basic shares 3,975 3.974 3,972 Diluted shares 3,998 3,998 4,004Table of Contents GENERAL MOTORS COMPANY AND SUBSIDIARIES Item 8. Financial Statements and Supplementary Data CONSOLIDATED INCOME STATEMENTS (In millions, except per share amounts) Years Ended December 31, 2019 2018 2017 Net sales and revenue Automotive S 122,697 S 133,045 S 133,449 GM Financial 14.540 14,004 12,139 Total net sales and revenue (Note 3) 137,237 147,049 145,588 Costs and expenses Automotive and other cost of sales 110,651 120,656 116,229 GM Financial interest, operating and other expenses 12,614 12.298 11,128 Automotive and other selling, general and administrative expense 8.491 9.650 9.570 Total costs and expenses 131,756 142,604 136,927 Operating income 5,481 4,445 8,661 Automotive interest expense 782 655 575 Interest income and other non-operating income, net (Note 19) 1,469 2,596 1,645 Equity income (Note 8) 1,268 2,163 2,132 Income before income taxes 7,436 8,549 11,863 Income tax expense (Note 17) 769 474 11,533 Income from continuing operations 6,667 8,075 330 Loss from discontinued operations, net of tax (Note 22) 70 4,212 Net income (loss) 6,667 8,005 (3,882) Net loss attributable to noncontrolling interests 65 9 18 Net income (loss) attributable to stockholders S 6,732 8,014 (3,864) Net income (loss) attributable to common stockholders S 6,581 S 7,916 S (3,880) Earnings per share (Note 21) Basic earnings per common share - continuing operations 4.62 5.66 0.23 Basic loss per common share - discontinued operations 0.05 2.88 Basic earnings (loss) per common share 4.62 5.61 (2.65) Weighted-average common shares outstanding - basic 1,424 1,411 1,465 Diluted earnings per common share - continuing operations in an un 4.57 5.58 S 0.22 Diluted loss per common share - discontinued operations 0.05 2.82 Diluted earnings (loss) per common share 4.57 5.53 (2.60) Weighted-average common shares outstanding - diluted 1,439 1,431 1,492HONDA MOTOR CO., LTD. AND SUBSIDIARIES Consolidated Statements of Income Years ended March 31, 2018, 2019 and 2020 Yen (millions) Note 2018 2019 2020 Sales revenue 20 * 15,361,146 15,888,617 * 14,931,009 Operating costs and expenses: Cost of sales (12,000,581) (12,580,949) (11,851,659) Selling, general and administrative (1,775,151) (1,774,393) (1,641,590) Research and development 21 (751,856) (806,905) (804,123) Total operating costs and expenses (14,527,588) (15,162,247) (14,297,372) Operating profit 833,558 726,370 633,637 Share of profit of investments accounted for using the equity method 10 247,643 228,827 164,203 Finance income and finance costs: Interest income 22 41,191 48,618 49,412 Interest expense 22 (12,970) (13,217) (24,689) Other, net 22 5,551 (11,223) (32,645) Total finance income and finance costs 33,772 24,178 (7,922) Profit before income taxes 1,114,973 979,375 789,918 Income tax expense 23 13,666 (303,089) (279,986) Profit for the year 1,128,639 676,286 509,932 Profit for the year attributable to: Owners of the parent 1,059,337 610,316 455,746 Non-controlling interests 69,302 65,970 54,186 Yen 2018 2019 2020 Earnings per share attributable to owners of the parent Basic and diluted 24 Y 590.79 Y 345.99 Y 260.13TOYOTA MOTOR CORPORATION CONSOLIDATED STATEMENTS OF INCOME Yen in millions For the years ended March 31 2018 2019 2020 Net revenues Sales of products 27,420,276 28,105,338 27,759,749 Financing operations 1,959,234 2,120,343 2,170,243 Total net revenues 29,379,510 30,225,681 29,929,992 Costs and expenses Cost of products sold 22,600,474 23,389,495 23,142,744 Cost of financing operations 1,288,679 1,392,290 1,379,620 Selling, general and administrative 3,090,495 2,976,351 2,964,759 Total costs and expenses 26,979,648 27,758,136 27,487,123 Operating income 2,399,862 2,467,545 2,442,869 Other income (expense) Interest and dividend income 179,541 225,495 232,870 Interest expense (27,586 (28,078) (32,217) Foreign exchange gain (loss), net 22,664 12,400 (79,020) Unrealized gains (losses) on equity securities (341,054 (24,600) Other income (loss), net 45.948 50,843) 14,705 Total other income (expense) 220,567 (182,080) 111,738 Income before income taxes and equity in earnings of affiliated companies 2,620,429 2,285,465 2,554,607 Provision for income taxes 504,406 659,944 683,430 Equity in earnings of affiliated companies 470,083 360,066 271,152 Net income 2,586,106 1,985,587 2,142,329 Less - Net income attributable to noncontrolling interests (92,123) (102,714) (66,146) Net income attributable to Toyota Motor Corporation 2,493,983 1,882,873 2,076,183 Note: Net income attributable to common shareholders for the fiscal year ended March 31, 2018, 2019 and 2020 is *2,481,692 million, V1,868.085 million and v2,058,899 million, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of Y12,291 million, V14,788 million and V17,284 million, respectively, from Net income attributable to Toyota Motor Corporation. Yen Net income attributable to Toyota Motor Corporation per common share - Basic 842.00 650.55 735.61 Diluted 832.78 645.11 729.50Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross prot Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Tesla, Inc. Consolidated Statements of Operations (in millions, except per share data) Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net loss attributable to common stockholders Net loss per share of common stock attributable to common stockholders Basic Diluted Weighted average shares used in computing net loss per share of common stock Basic Diluted The accompanying notes are an integral part of these consolidated financial statements. Year Ended December 31 2019 2018 2017 $ 19,952 $ 17,632 $ 8,535 869 883 1,107 20,821 18,515 9,642 1,531 1,555 1,116 2,226 1,391 1,001 24,578 21,461 11,759 15,939 13,686 6,725 459 488 708 16,398 14,174 7,433 1,341 1,365 874 2,770 1,880 1,229 20,509 17,419 9,536 4,069 4,042 2,223 1,343 1,460 1,378 2,646 2,835 2,477 149 135 4,138 4,430 3,855 (59) (305) (1,532) 44 24 19 (685) (663) (471) 45 22 (125) (555) (1,005) (2,209) 110 58 32 (775) (1,053) (2,241) 37 (07) (279) s (052) s (975) $ (1,952) (4.92) s (5.72) 5 (11.53) (4.92) s (5.72) 5 (11.33) 177 171 166 177 171 166
