Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 724,616 651,570 571,597 785,956 845,468 763,617 - -
Change - -10.08% -12.27% 37.5% 7.57% -9.68% - -
Enterprise Value (EV) 1 708,526 613,134 493,383 703,579 874,231 720,450 672,499 592,340
Change - -13.46% -19.53% 42.6% 24.25% -17.59% -6.66% -11.92%
P/E ratio 205x 29.8x 18.9x 18.1x 23.9x 17.1x 13.4x 11.3x
PBR 6.65x 4.47x 4.07x 3.93x - 2.42x 2.1x 1.83x
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 0.68x
EV / Revenue 3.35x 1.45x 0.82x 0.91x 1.09x 0.79x 0.65x 0.52x
EV / EBITDA 35x 14.7x 6.04x 6.13x 7.41x 5.68x 4.5x 3.45x
EV / EBIT 108x 28.5x 12.9x 13.9x 21.8x 16.4x 11.5x 8.47x
EV / FCF 25.2x 14.1x 10.4x 19.5x -8.95x 28.1x 11.4x 4.97x
FCF Yield 3.97% 7.08% 9.65% 5.13% -11.2% 3.56% 8.74% 20.1%
Dividend per Share 2 0.035 0.3807 1.032 1.325 0.358 0.4582 1.279 1.516
Rate of return 0.05% 0.67% 1.59% 1.59% 0.42% 0.61% 1.71% 2.03%
EPS 2 0.3533 1.903 3.44 4.613 3.58 4.383 5.576 6.623
Distribution rate 9.91% 20% 30% 28.7% 10% 10.5% 22.9% 22.9%
Net sales 1 211,300 424,061 602,315 777,102 803,965 915,585 1,040,811 1,130,065
EBITDA 1 20,236 41,830 81,656 114,749 118,054 126,866 149,406 171,714
EBIT 1 6,571 21,542 38,103 50,486 40,185 43,938 58,358 69,935
Net income 1 3,045 16,622 30,041 40,254 32,619 39,835 51,896 60,776
Net Debt 1 -16,091 -38,436 -78,213 -82,378 28,763 -43,167 -91,118 -171,277
Reference price 2 72.40 56.79 64.87 83.51 85.68 74.87 74.87 74.87
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 29/3/22 28/3/23 26/3/24 24/3/25 27/3/26 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.5x0.8x5.79x0.59% 115B
300.06x14.34x96.45x-.--% 1,490B
-5.83x3.23x-11.33x-.--% 20.13B
17.05x0.11x1.47x0.95% 18.1B
-32.91x0.84x-182.78x-.--% 14.8B
-76.35x0.29x9.02x-.--% 14.39B
-46.19x0.5x7.96x-.--% 13.21B
13.99x0.23x5.42x-.--% 7.13B
-1.98x3.03x-7.55x - 7.11B
Average 20.59x 2.60x -8.39x 0.19% 188.83B
Weighted average by Cap. 263.09x 12.69x 83.36x 0.05%

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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