Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 724,616 651,570 571,597 785,956 845,468 770,578 - -
Change - -10.08% -12.27% 37.5% 7.57% -8.86% - -
Enterprise Value (EV) 1 708,526 613,134 493,383 703,579 874,231 824,220 643,199 686,612
Change - -13.46% -19.53% 42.6% 24.25% -5.72% -21.96% 6.75%
P/E 205x 29.8x 18.9x 18.1x 23.9x 18.2x 14.1x 11.7x
PBR 6.65x 4.47x 4.07x 3.93x 3.17x 2.52x 2.17x 1.89x
PEG - 0x 0.2x 0.5x -1.1x 1x 0.5x 0.6x
Capitalization / Revenue 3.43x 1.54x 0.95x 1.01x 1.05x 0.83x 0.73x 0.68x
EV / Revenue 3.35x 1.45x 0.82x 0.91x 1.09x 0.89x 0.61x 0.6x
EV / EBITDA 35x 14.7x 6.04x 6.13x 7.41x 6.43x 4.29x 3.94x
EV / EBIT 108x 28.5x 12.9x 13.9x 21.8x 18.6x 11.1x 9.61x
EV / FCF 25.2x 14.1x 10.4x 19.5x -8.95x 27.8x 13.3x 6.92x
FCF Yield 3.97% 7.08% 9.65% 5.13% -11.2% 3.59% 7.52% 14.5%
Dividend per Share 2 0.035 0.3807 1.032 1.325 0.358 0.3994 1.062 1.326
Rate of return 0.05% 0.67% 1.59% 1.59% 0.42% 0.52% 1.37% 1.71%
EPS 2 0.3533 1.903 3.44 4.613 3.58 4.252 5.486 6.611
Distribution rate 9.91% 20% 30% 28.7% 10% 9.39% 19.4% 20.1%
Net sales 1 211,300 424,061 602,315 777,102 803,965 925,926 1,051,543 1,140,111
EBITDA 1 20,236 41,830 81,656 114,749 118,054 128,249 149,919 174,075
EBIT 1 6,571 21,542 38,103 50,486 40,185 44,365 58,029 71,419
Net income 1 3,045 16,622 30,041 40,254 32,619 38,753 50,053 61,159
Net Debt 1 -16,091 -38,436 -78,213 -82,378 28,763 53,642 -127,379 -83,966
Reference price 2 72.40 56.79 64.87 83.51 85.68 77.40 77.40 77.40
Nbr of stocks (in thousands) 8,733,429 8,716,895 8,716,895 8,716,224 9,105,624 9,085,053 - -
Announcement Date 29/03/22 28/03/23 26/03/24 24/03/25 27/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
315.81x12.53x90.52x-.--% 1,352B
17.84x0.89x6.34x0.53% 113B
-6.28x3.28x-12.69x-.--% 22.24B
31.08x0.12x4.64x0.54% 13.4B
-51.84x0.16x4.96x-.--% 12.08B
-39.18x0.41x6.57x-.--% 11.31B
-22.84x0.57x-78.59x-.--% 11.2B
-2.07x2.92x-7.72x - 7.42B
13.89x0.24x5.86x-.--% 7.26B
Average 28.49x 2.35x 2.21x 0.13% 172.15B
Weighted average by Cap. 276.22x 11.07x 78.81x 0.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield