Tesla's stock has gained 2,630% over 10 years, but at a price-to-earnings ratio of 363, today's valuations leave little room for error.

What happened: A $10,000 investment in Tesla 10 years ago would be worth $273,000 today, reflecting a 2,630% gain. The company's 2025 total revenue was $94.8 billion（約15兆円）, down year over year, even as the stock trades 19% below its December 2025 peak.

Why it matters: Tesla has transformed from an unproven auto industry newcomer into a globally recognized tech company positioned at the premium end of the EV (electric vehicle) market. However, the current price-to-earnings ratio of 363 reflects market expectations so high that future returns depend heavily on the company delivering on its self-driving and robotics ambitions.

What to watch: The company's growth over the past decade has been tremendous, but investors seeking similar gains over the next 10 years should be cautious given how lofty current valuations are relative to near-term earnings.