> "Edit: Tesla is 3 times Toyota in valuation, not 5 as I said earlier, not that it changes the argument much."
Per Google finance, Tesla's market cap today is $1.42T. Toyota's is ¥48.72T, or $307B USD. So that would make Tesla's valuation about 4.6 times Toyota's.
Sure and Toyota [1] has significantly more outstanding bonds than Tesla [2] which should depress it's market cap.
[1]: https://www.tradingview.com/symbols/TSE-7203/bonds/
[2]: https://www.tradingview.com/symbols/NASDAQ-TSLA/bonds/