Tesla Inc (TSLA · NASDAQ)

Tesla shares fell 2.1% to $354.72, leaving the stock down 7.3% over five days and 27.6% below its 52-week high, though it remains up 11.0% over three months. The company posted a quarterly free cash flow deficit of $1.09 billion as capex of $5.79 billion exceeded operating cash flow of $4.70 billion, even as revenue grew 25.5% year over year to $28.24 billion in the June quarter. Margins remain thin — operating margin of 1.4% and net margin of 3.7% — against a P/E of 328.44 and EV/EBITDA of 122.54, with the analyst target of $397.83 sitting above the current price. Earnings beat estimates in three of the last four quarters, including the most recent at $0.33 versus $0.32 expected, while China's proposed export controls on solar manufacturing technology add a new headwind for Tesla's energy business.