5 Most Profitable Growth Stocks Now

1. Tesla, Inc. (NASDAQ:TSLA)

Net Income (TTM) as of March 17, 2023: $12.56 billion

Tesla, Inc. (NASDAQ:TSLA), is a multinational Electric Vehicles (EV) manufacturer and clean energy corporation based in the United States. The company is known for its innovative electric vehicle designs and currently offers several car models, including the Model S, Model X, Model 3, Model Y, and Cybertruck. Tesla, Inc. (NASDAQ:TSLA) also engages in the production and sale of energy generation and storage products (from residential to grid-scale), solar roof tiles, and solar panels, as well as offering charging and vehicle accessories, apparel, and lifestyle products.

On January 25, 2023, Tesla, Inc. (NASDAQ:TSLA) announced its fourth-quarter results for the fiscal year 2022. The company reported a revenue of $24.32 billion, beating market estimates by $17.21 million. The Normalized EPS stood at $1.19, exceeding market estimates by $0.08.

Here is what Worm Capital, LLC had to say about Tesla, Inc. (NASDAQ:TSLA) in its 2022 annual investor letter:

Even as rates rose and the macro environment devolved, we believed Tesla, Inc. (NASDAQ:TSLA) was best positioned to grow and thrive, even through a period of extreme uncertainty. They are the market leader in rapidly growing end markets and have spent the past decade growing their competitive advantages and building out physical infrastructure with worldwide reach. While we believe we were right regarding the direction of fundamentals, this was overcome by a vast array of factors we didn’t anticipate that negatively impacted the price.

By and large, Tesla had amazing execution in 2022. They managed to achieve 40% YOY delivery growth. In addition, revenue growth should exceed 50% and profit growth should exceed 120% YOY once Q4 numbers are released. This was accomplished while navigating a myriad of difficulties including a prolonged shutdown at their most productive plant in Shanghai. They scaled two factories on different continents while maintaining industry-leading margins and continued to make advanced progress in transformational technologies that have fast future cash flow potential like AI, software, and manufacturing. Through all the noise a lot of remarkable progress was made… (Click here to read the full text)

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