Company Valuation: WeRide Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2024 2025 2026 2027 2028
Market Cap 1 28,410 20,776 12,125 - -
Change - -26.87% -41.64% - -
Enterprise Value (EV) 1 23,665 14,534 7,582 8,784 10,039
Change - -38.59% -47.83% 15.85% 14.29%
P/E -12.1x -11.3x -14.8x -17.9x -42.3x
PBR 4.32x 2.37x 1.46x 2.02x 2.24x
PEG 0.2x 0.3x 0.3x 1x 0.7x
Capitalization / Revenue 78.7x 30.3x 11.3x 5.89x 2.54x
EV / Revenue 65.5x 21.2x 7.06x 4.27x 2.1x
EV / EBITDA -11.4x -8.65x -4.8x -6.76x -14.7x
EV / EBIT -10.8x -7.87x -4.22x -5.56x -10.8x
EV / FCF -34.9x -9.26x -3.2x -4.3x -5.67x
FCF Yield -2.86% -10.8% -31.2% -23.3% -17.6%
Dividend per Share 2 - - - - -
Rate of return - - - - -
EPS 2 -8.54 -5.37 -2.492 -2.061 -0.8707
Distribution rate - - - - -
Net sales 1 361.1 684.6 1,073 2,059 4,770
EBITDA 1 -2,084 -1,680 -1,580 -1,299 -681.7
EBIT 1 -2,185 -1,847 -1,798 -1,580 -930.4
Net income 1 -2,517 -1,655 -1,634 -1,389 -671.4
Net Debt 1 -4,745 -6,242 -4,543 -3,341 -2,086
Reference price 2 103.50 60.71 36.86 36.86 36.86
Nbr of stocks (in thousands) 274,493 342,205 328,956 - -
Announcement Date 3/14/25 3/23/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.54x3.69x12.88x2.95% 216B
-130.35x18.18x100.79x-.--% 117B
13.46x1.48x7.8x3.56% 111B
13.63x2.48x9.35x6.03% 79.37B
19.51x5.17x12.71x2.91% 58.38B
13.79x1.99x8.45x5.65% 44.37B
22.36x1.83x11.42x1.31% 43.97B
21.06x1.6x10.17x0.89% 40.66B
17.22x2.17x10.3x5.08% 35.23B
Average 1.47x 4.29x 20.43x 3.15% 82.93B
Weighted average by Cap. -4.86x 5.23x 24.92x 2.95%

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

-40%: Exceptional extension
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