BYD COMPANY LIMITED Financials BYD Company Limited Shenzhen S.E.
Equities
002594
CNE100001526
Auto & Truck Manufacturers
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 218.5 CNY | -1.30% |
|
+4.77% | +10.35% |
| May. 01 | China EV Makers Post Higher April Sales Amid Price War | DJ |
| May. 01 | BYD's Q1 Profit Jumps 11%, Operating Revenue Rises 4% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 118,176 | 508,619 | 724,739 | 650,552 | 572,350 | 613,653 | - | - |
| Enterprise Value (EV) 1 | 183,247 | 545,613 | 708,260 | 618,292 | 501,295 | 523,465 | 453,322 | 389,669 |
| P/E ratio | 69.4 x | 116 x | 205 x | 29.8 x | 18.9 x | 17 x | 13.7 x | 11.6 x |
| Yield | 0.17% | 0.09% | 0.05% | 0.67% | 1.59% | 1.45% | 1.83% | 2.3% |
| Capitalization / Revenue | 0.97 x | 3.31 x | 3.35 x | 1.53 x | 0.95 x | 0.84 x | 0.7 x | 0.62 x |
| EV / Revenue | 1.5 x | 3.56 x | 3.28 x | 1.46 x | 0.83 x | 0.72 x | 0.52 x | 0.39 x |
| EV / EBITDA | 10.9 x | 24.4 x | 38.4 x | 15 x | 6.25 x | 6.12 x | 4.16 x | 3.2 x |
| EV / FCF | 79.4 x | 16.1 x | 24.5 x | 14.2 x | 10.4 x | 7.1 x | 9.23 x | 6.64 x |
| FCF Yield | 1.26% | 6.21% | 4.09% | 7.06% | 9.6% | 14.1% | 10.8% | 15.1% |
| Price to Book | 1.67 x | 8.6 x | 6.65 x | 4.46 x | 4.08 x | 3.52 x | 2.89 x | 2.58 x |
| Nbr of stocks (in thousands) | 2,728,143 | 2,728,143 | 2,911,143 | 2,905,632 | 2,905,632 | 2,903,755 | - | - |
| Reference price 2 | 34.72 | 171.0 | 217.2 | 170.1 | 194.9 | 199.5 | 199.5 | 199.5 |
| Announcement Date | 3/31/20 | 3/29/21 | 3/29/22 | 3/28/23 | 3/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 121,778 | 153,469 | 216,142 | 424,061 | 602,315 | 729,438 | 871,865 | 995,166 |
| EBITDA 1 | 16,806 | 22,381 | 18,465 | 41,328 | 80,265 | 85,585 | 108,897 | 121,831 |
| EBIT 1 | 7,337 | 10,193 | 4,632 | 21,542 | 38,103 | 41,527 | 55,704 | 62,789 |
| Operating Margin | 6.03% | 6.64% | 2.14% | 5.08% | 6.33% | 5.69% | 6.39% | 6.31% |
| Earnings before Tax (EBT) 1 | 2,431 | 6,883 | 4,518 | 21,080 | 37,269 | 43,643 | 53,461 | 64,406 |
| Net income 1 | 1,614 | 4,234 | 3,045 | 16,622 | 30,041 | 33,245 | 44,556 | 47,094 |
| Net margin | 1.33% | 2.76% | 1.41% | 3.92% | 4.99% | 4.56% | 5.11% | 4.73% |
| EPS 2 | 0.5000 | 1.470 | 1.060 | 5.710 | 10.32 | 11.71 | 14.53 | 17.13 |
| Free Cash Flow 1 | 2,307 | 33,878 | 28,949 | 43,649 | 48,102 | 73,769 | 49,120 | 58,719 |
| FCF margin | 1.89% | 22.07% | 13.39% | 10.29% | 7.99% | 10.11% | 5.63% | 5.9% |
| FCF Conversion (EBITDA) | 13.73% | 151.37% | 156.78% | 105.62% | 59.93% | 86.19% | 45.11% | 48.2% |
| FCF Conversion (Net income) | 142.89% | 800.08% | 950.66% | 262.59% | 160.12% | 221.89% | 110.24% | 124.68% |
| Dividend per Share 2 | 0.0600 | 0.1480 | 0.1050 | 1.142 | 3.096 | 2.887 | 3.651 | 4.584 |
| Announcement Date | 3/31/20 | 3/29/21 | 3/29/22 | 3/28/23 | 3/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 59,594 | 58,028 | 95,441 | 89,131 | 70,950 | 122,169 | 66,825 | 83,782 | 150,607 | 117,081 | 156,373 | 273,453 | 120,174 | 139,951 | 162,151 | 180,041 | 124,944 | 155,948 | 200,089 | 248,615 | 181,650 | 211,544 |
| EBITDA | 10,382 | 9,131 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,874 | 3,874 | 6,319 | 1,854 | 763.2 | 3,269 | 1,061 | 3,561 | 4,622 | 7,463 | 9,456 | - | 5,299 | 8,433 | 12,906 | 11,466 | 5,798 | 6,794 | 11,363 | 13,422 | - | - |
| Operating Margin | 8.18% | 6.68% | 6.62% | 2.08% | 1.08% | 2.68% | 1.59% | 4.25% | 3.07% | 6.37% | 6.05% | - | 4.41% | 6.03% | 7.96% | 6.37% | 4.64% | 4.36% | 5.68% | 5.4% | - | - |
| Earnings before Tax (EBT) 1 | 565.2 | 2,928 | 3,955 | - | - | 2,314 | - | - | 4,641 | - | 8,961 | 16,438 | 5,217 | 8,183 | 12,665 | 11,203 | 5,717 | 19,469 | 103,481 | -91,639 | - | - |
| Net income 1 | 157 | 1,662 | 2,572 | - | 602.1 | 1,872 | - | 2,787 | 3,595 | 5,716 | 7,311 | 13,027 | 4,130 | 6,824 | 10,413 | 8,674 | 4,569 | 7,615 | 11,559 | 13,253 | - | - |
| Net margin | 0.26% | 2.86% | 2.69% | - | 0.85% | 1.53% | - | 3.33% | 2.39% | 4.88% | 4.68% | 4.76% | 3.44% | 4.88% | 6.42% | 4.82% | 3.66% | 4.88% | 5.78% | 5.33% | - | - |
| EPS 2 | 0.0100 | 0.5600 | 0.9100 | 0.4100 | - | 0.6500 | - | - | 1.240 | - | - | 4.470 | 1.420 | 2.350 | 3.580 | 2.970 | 1.570 | 2.590 | 4.090 | 3.760 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/31/20 | 8/28/20 | 3/29/21 | 8/27/21 | 3/29/22 | 3/29/22 | 4/27/22 | 8/29/22 | 8/29/22 | 10/28/22 | 3/28/23 | 3/28/23 | 4/27/23 | 8/28/23 | 10/30/23 | 3/26/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 65,072 | 36,994 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 16,091 | 32,260 | 71,056 | 90,212 | 166,973 | 223,984 |
| Leverage (Debt/EBITDA) | 3.872 x | 1.653 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,307 | 33,878 | 28,949 | 43,649 | 48,102 | 73,769 | 49,120 | 58,719 |
| ROE (net income / shareholders' equity) | 2.88% | 7.43% | 3.73% | 16.1% | 24.4% | 20.8% | 22.5% | 22.1% |
| ROA (Net income/ Total Assets) | 0.83% | 2.14% | 1.23% | 4.21% | 5.12% | 4.78% | 5.08% | 5.08% |
| Assets 1 | 195,100 | 198,326 | 248,404 | 394,820 | 586,700 | 696,156 | 876,388 | 927,278 |
| Book Value Per Share 2 | 20.80 | 19.90 | 32.70 | 38.10 | 47.80 | 56.70 | 69.00 | 77.30 |
| Cash Flow per Share 2 | 5.400 | 15.80 | 22.80 | 48.40 | 58.40 | 42.00 | 45.30 | 50.90 |
| Capex 1 | 12,434 | 11,515 | 36,517 | 97,189 | 121,623 | 94,516 | 88,598 | 89,728 |
| Capex / Sales | 10.21% | 7.5% | 16.89% | 22.92% | 20.19% | 12.96% | 10.16% | 9.02% |
| Announcement Date | 3/31/20 | 3/29/21 | 3/29/22 | 3/28/23 | 3/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
29
Last Close Price
199.5
CNY
Average target price
267.6
CNY
Spread / Average Target
+34.12%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.28% | 86.02B | |
| +4.76% | 81.53B | |
| +22.90% | 74.86B | |
| +24.41% | 48.28B | |
| +18.00% | 33.78B | |
| +9.83% | 23.55B | |
| -12.54% | 17.64B | |
| +50.64% | 12.07B | |
| -10.47% | 10.25B |
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