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 | ||
| 252.6 CNY | +3.11% |
|
+3.54% | +27.58% |
| Jul. 09 | Mixed feelings |  |
| Jul. 09 | Chinese Car Sales Decline for Three Straight Months | 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 | 696,694 | - | - |
| Enterprise Value (EV) 1 | 183,247 | 545,613 | 708,260 | 618,292 | 501,295 | 597,175 | 534,679 | 470,971 |
| P/E ratio | 69.4 x | 116 x | 205 x | 29.8 x | 18.9 x | 18.8 x | 15.1 x | 12.4 x |
| Yield | 0.17% | 0.09% | 0.05% | 0.67% | 1.59% | 1.5% | 1.82% | 2.22% |
| Capitalization / Revenue | 0.97 x | 3.31 x | 3.35 x | 1.53 x | 0.95 x | 0.92 x | 0.76 x | 0.66 x |
| EV / Revenue | 1.5 x | 3.56 x | 3.28 x | 1.46 x | 0.83 x | 0.79 x | 0.58 x | 0.45 x |
| EV / EBITDA | 10.9 x | 24.4 x | 38.4 x | 15 x | 6.25 x | 6.57 x | 4.87 x | 3.77 x |
| EV / FCF | 79.4 x | 16.1 x | 24.5 x | 14.2 x | 10.4 x | 5.69 x | 7.92 x | 4.07 x |
| FCF Yield | 1.26% | 6.21% | 4.09% | 7.06% | 9.6% | 17.6% | 12.6% | 24.6% |
| Price to Book | 1.67 x | 8.6 x | 6.65 x | 4.46 x | 4.08 x | 3.85 x | 3.21 x | 2.75 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 | 219.0 | 219.0 | 219.0 |
| 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 | 757,804 | 914,635 | 1,049,595 |
| EBITDA 1 | 16,806 | 22,381 | 18,465 | 41,328 | 80,265 | 90,954 | 109,725 | 124,902 |
| EBIT 1 | 7,337 | 10,193 | 4,632 | 21,542 | 38,103 | 42,104 | 55,412 | 63,619 |
| Operating Margin | 6.03% | 6.64% | 2.14% | 5.08% | 6.33% | 5.56% | 6.06% | 6.06% |
| Earnings before Tax (EBT) 1 | 2,431 | 6,883 | 4,518 | 21,080 | 37,269 | 43,624 | 56,057 | 63,759 |
| Net income 1 | 1,614 | 4,234 | 3,045 | 16,622 | 30,041 | 35,079 | 44,769 | 48,619 |
| Net margin | 1.33% | 2.76% | 1.41% | 3.92% | 4.99% | 4.63% | 4.89% | 4.63% |
| EPS 2 | 0.5000 | 1.470 | 1.060 | 5.710 | 10.32 | 11.65 | 14.53 | 17.70 |
| Free Cash Flow 1 | 2,307 | 33,878 | 28,949 | 43,649 | 48,102 | 55,271 | 60,559 | 88,213 |
| FCF margin | 1.89% | 22.07% | 13.39% | 10.29% | 7.99% | 7.29% | 6.62% | 8.4% |
| FCF Conversion (EBITDA) | 13.73% | 151.37% | 156.78% | 105.62% | 59.93% | 60.77% | 55.19% | 70.63% |
| FCF Conversion (Net income) | 142.89% | 800.08% | 950.66% | 262.59% | 160.12% | 157.56% | 135.27% | 181.44% |
| Dividend per Share 2 | 0.0600 | 0.1480 | 0.1050 | 1.142 | 3.096 | 3.280 | 3.977 | 4.871 |
| 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 | 169,836 | 206,479 | 242,484 | 177,263 | 206,435 |
| 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% | 5.5% | 5.54% | - | - |
| 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 | 17,931 | 101,968 | -93,278 | - | - |
| 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% | 10.56% | 49.38% | -38.47% | - | - |
| 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 | 99,519 | 162,016 | 225,723 |
| Leverage (Debt/EBITDA) | 3.872 x | 1.653 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,307 | 33,878 | 28,949 | 43,649 | 48,102 | 55,271 | 60,559 | 88,213 |
| ROE (net income / shareholders' equity) | 2.88% | 7.43% | 3.73% | 16.1% | 24.4% | 21.7% | 22.7% | 23% |
| ROA (Net income/ Total Assets) | 0.83% | 2.14% | 1.23% | 4.21% | 5.12% | 4.67% | 5.05% | 5.01% |
| Assets 1 | 195,100 | 198,326 | 248,404 | 394,820 | 586,700 | 751,264 | 886,297 | 970,312 |
| Book Value Per Share 2 | 20.80 | 19.90 | 32.70 | 38.10 | 47.80 | 56.90 | 68.30 | 79.50 |
| Cash Flow per Share 2 | 5.400 | 15.80 | 22.80 | 48.40 | 58.40 | 38.80 | 47.00 | 50.30 |
| Capex 1 | 12,434 | 11,515 | 36,517 | 97,189 | 121,623 | 104,900 | 91,941 | 90,371 |
| Capex / Sales | 10.21% | 7.5% | 16.89% | 22.92% | 20.19% | 13.84% | 10.05% | 8.61% |
| 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
28
Last Close Price
219
CNY
Average target price
275.7
CNY
Spread / Average Target
+25.92%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +25.96% | 76.62B | |
| -9.16% | 71.47B | |
| +25.64% | 48.3B | |
| +22.50% | 34.88B | |
| -0.22% | 21.29B | |
| -17.65% | 16.55B | |
| +44.15% | 11.38B | |
| -26.17% | 8.52B | |
| +91.70% | 7.73B |
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