Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 724,616 651,570 571,597 785,956 845,468 756,604 - -
Change - -10.08% -12.27% 37.5% 7.57% -10.51% - -
Enterprise Value (EV) 1 708,526 613,134 493,383 703,579 874,231 713,437 662,050 663,022
Change - -13.46% -19.53% 42.6% 24.25% -18.39% -7.2% 0.15%
P/E 205x 29.8x 18.9x 18.1x 23.9x 17x 13.3x 11.1x
PBR 6.65x 4.47x 4.07x 3.93x - 2.39x 2.07x 1.8x
PEG - 0x 0.2x 0.5x -1.1x 0.8x 0.5x 0.6x
Capitalization / Revenue 3.43x 1.54x 0.95x 1.01x 1.05x 0.83x 0.73x 0.67x
EV / Revenue 3.35x 1.45x 0.82x 0.91x 1.09x 0.78x 0.64x 0.59x
EV / EBITDA 35x 14.7x 6.04x 6.13x 7.41x 5.65x 4.55x 3.87x
EV / EBIT 108x 28.5x 12.9x 13.9x 21.8x 16.7x 11.7x 9.54x
EV / FCF 25.2x 14.1x 10.4x 19.5x -8.95x 1,814x 13.1x 6.76x
FCF Yield 3.97% 7.08% 9.65% 5.13% -11.2% 0.06% 7.61% 14.8%
Dividend per Share 2 0.035 0.3807 1.032 1.325 0.358 0.4582 1.146 1.371
Rate of return 0.05% 0.67% 1.59% 1.59% 0.42% 0.62% 1.56% 1.87%
EPS 2 0.3533 1.903 3.44 4.613 3.58 4.33 5.509 6.6
Distribution rate 9.91% 20% 30% 28.7% 10% 10.6% 20.8% 20.8%
Net sales 1 211,300 424,061 602,315 777,102 803,965 914,216 1,030,203 1,131,522
EBITDA 1 20,236 41,830 81,656 114,749 118,054 126,175 145,631 171,220
EBIT 1 6,571 21,542 38,103 50,486 40,185 42,737 56,381 69,505
Net income 1 3,045 16,622 30,041 40,254 32,619 39,899 50,118 60,377
Net Debt 1 -16,091 -38,436 -78,213 -82,378 28,763 -43,167 -94,554 -93,582
Reference price 2 72.40 56.79 64.87 83.51 85.68 73.43 73.43 73.43
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
295.84x14.51x96.43x-.--% 1,531B
-6.64x3.9x-14x-.--% 25.1B
15.16x-0.01x-0.16x1.13% 15.08B
-27.48x0.67x-115.22x-.--% 12.46B
-41.85x0.44x6.98x-.--% 11.96B
-56.26x0.16x5.06x-.--% 12.1B
-1.99x2.88x-7.55x - 7.14B
13.45x0.21x5.13x-.--% 6.84B
Average 23.78x 2.84x -2.92x 0.16% 202.76B
Weighted average by Cap. 278.45x 13.79x 90.02x 0.01%

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