Tesla is the latest high-profile tech company to split its stock this year. The 3-for-1 split took effect Aug. 24.

Tesla is the latest high-profile tech company to split its stock this year. The 3-for-1 split took effect Aug. 24.

It's crucial to keep in mind that the stock split is purely ornamental and adds nothing of value to the company.

Tesla leads electric cars. Its popularity and precision in production have helped it scale quickly and remain dominant while expanding into new countries.

By 2030, Tesla thinks it will be producing 20 million electric vehicles after adding another 10 to 12 gigafactories between now and then to reach that capacity 

Tesla has produced non-GAAP (adjusted) net income (profit) of $11.3 billion over the previous four quarters, or $9.89 in earnings per share.

Naturally, the growth in Tesla's revenue has been as impressive as the growth in its deliveries and production.

The metric grew at a CAGR of 46% between 2017 and 2021, and analysts expect it to grow 56% this year, to $83.9 billion.

In 2023, the company is expected to generate over $100 billion in annual revenue for the first time.

Tesla makes the best electric vehicles. Its popularity and precise production processes have helped it scale quickly and remain dominant while expanding into new countries.

Tesla will be able to produce 2 million cars per year by 2022 thanks to two new gigafactories in Austin, Texas, and Berlin, Germany.

A higher gross margin gives Tesla more money to invest in initiatives like new gigafactories or to add to its $18.3 billion cash pile.