Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 724,616 651,570 571,597 785,956 845,468 782,883 - -
Change - -10.08% -12.27% 37.5% 7.57% -7.4% - -
Enterprise Value (EV) 1 708,526 613,134 493,383 703,579 874,231 740,907 693,324 698,917
Change - -13.46% -19.53% 42.6% 24.25% -15.25% -6.42% 0.81%
P/E 205x 29.8x 18.9x 18.1x 23.9x 18.8x 14.6x 12.1x
PBR 6.65x 4.47x 4.07x 3.93x 3.17x 2.6x 2.24x 1.95x
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 0.86x 0.76x 0.69x
EV / Revenue 3.35x 1.45x 0.82x 0.91x 1.09x 0.81x 0.67x 0.61x
EV / EBITDA 35x 14.7x 6.04x 6.13x 7.41x 5.78x 4.62x 4.02x
EV / EBIT 108x 28.5x 12.9x 13.9x 21.8x 15.5x 11.5x 9.79x
EV / FCF 25.2x 14.1x 10.4x 19.5x -8.95x 25x 14.3x 7.04x
FCF Yield 3.97% 7.08% 9.65% 5.13% -11.2% 4% 6.98% 14.2%
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% 0.5% 1.33% 1.66%
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 1 211,300 424,061 602,315 777,102 803,965 912,657 1,029,431 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 47,846 60,230 71,419
Net income 1 3,045 16,622 30,041 40,254 32,619 39,982 51,291 61,975
Net Debt 1 -16,091 -38,436 -78,213 -82,378 28,763 -41,977 -89,560 -83,966
Reference price 2 72.40 56.79 64.87 83.51 85.68 79.87 79.87 79.87
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 3/29/22 3/28/23 3/26/24 3/24/25 3/27/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
337.53x13.3x96.06x-.--% 1,433B
18.78x0.81x5.78x0.5% 116B
-6.94x3.59x-13.91x-.--% 24.57B
-54.99x0.2x6.1x-.--% 12.8B
76x0.11x2.52x0.13% 12.79B
-23.72x0.61x-82.9x-.--% 11.67B
-40x0.42x6.76x-.--% 11.59B
14.78x0.27x6.6x-.--% 7.75B
-2.03x2.89x-7.64x - 7.28B
Average 35.49x 2.47x 2.15x 0.08% 182B
Weighted average by Cap. 296.31x 11.77x 83.77x 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