The obvious answer is the company is massively overvalued. Still I wanted to look at the segment information to see if I am missing anything:
[TSLA Valuation Analysis](https://docs.google.com/spreadsheets/d/1emkXyczaM16G4eAbvE69n8OYuo0daqbhZWKZ3aNgJgI/edit?usp=sharing)
At best, the Energy Generation & Storage segment shows growth and profitability typical of a tech company. Unfortunately, it represents only 13% of revenue. The Automotive segment is pedestrian and shows nothing special.
Even with very generous TTM revenue multiples of 20x for the Energy segment and 10x for the Auto segment, the stock has 30% downside potential.
