Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 508,852 724,616 651,570 571,597 785,956 835,843 835,843 -
Change - 42.4% -10.08% -12.27% 37.5% 6.35% 0% -
Enterprise Value (EV) 1 547,396 708,526 613,134 493,383 703,579 723,993 684,920 624,758
Change - 29.44% -13.46% -19.53% 42.6% 2.9% -5.4% -8.78%
P/E ratio 116x 205x 29.8x 18.9x 18.1x 22x 16.5x 13.6x
PBR 8.61x 6.65x 4.47x 4.07x 3.93x 3.46x 2.94x 2.57x
PEG - -7.3x 0x 0.2x 0.5x -1.7x 0.5x 0.6x
Capitalization / Revenue 3.32x 3.43x 1.54x 0.95x 1.01x 0.98x 0.84x 0.74x
EV / Revenue 3.57x 3.35x 1.45x 0.82x 0.91x 0.85x 0.69x 0.55x
EV / EBITDA 24.5x 35x 14.7x 6.04x 6.13x 6.99x 5.38x 4.24x
EV / EBIT 53.7x 108x 28.5x 12.9x 13.9x 16.6x 11.1x 8.46x
EV / FCF 16.3x 25.2x 14.1x 10.4x 19.5x 17.1x 11.2x 8.46x
FCF Yield 6.14% 3.97% 7.08% 9.65% 5.13% 5.85% 8.93% 11.8%
Dividend per Share 2 0.0493 0.035 0.3807 1.032 1.325 1.166 1.517 1.829
Rate of return 0.09% 0.05% 0.67% 1.59% 1.59% 1.32% 1.72% 2.07%
EPS 2 0.49 0.3533 1.903 3.44 4.613 4.022 5.36 6.522
Distribution rate 10.1% 9.91% 20% 30% 28.7% 29% 28.3% 28%
Net sales 1 153,469 211,300 424,061 602,315 777,102 852,915 993,886 1,128,399
EBITDA 1 22,381 20,236 41,830 81,656 114,749 103,584 127,233 147,244
EBIT 1 10,193 6,571 21,542 38,103 50,486 43,677 61,430 73,861
Net income 1 4,234 3,045 16,622 30,041 40,254 35,783 48,771 59,521
Net Debt 1 38,544 -16,091 -38,436 -78,213 -82,378 -111,850 -150,923 -211,085
Reference price 2 57.03 72.40 56.79 64.87 83.51 88.40 88.40 88.40
Nbr of stocks (in thousands) 8,184,429 8,733,429 8,716,895 8,716,895 8,716,224 9,105,624 9,105,624 -
Announcement Date 29/03/21 29/03/22 28/03/23 26/03/24 24/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.53x0.85x6.96x1.35% 120B
327.35x14.37x102.77x-.--% 1,394B
21.32x0.95x10.9x1.79% 31.32B
-5x3.47x-8.66x-.--% 19.81B
-95.93x1.46x-1053.66x-.--% 19.09B
91.6x0.39x12.87x-.--% 15.88B
-4.24x0.89x-7.81x-.--% 11.53B
77.54x0.67x33.29x-.--% 8.29B
-2.38x5.39x-9x - 7.81B
561.5x - - - 7.29B
Average 99.33x 3.16x -101.37x 0.39% 163.5B
Weighted average by Cap. 283.72x 12.49x 76.49x 0.13%
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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

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