Company Valuation: BYD Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 724,616 651,570 571,597 785,956 845,468 678,440 - -
Change - -10.08% -12.27% 37.5% 7.57% -19.76% - -
Enterprise Value (EV) 1 708,526 619,310 500,541 703,579 874,231 716,106 659,134 605,692
Change - -12.59% -19.18% 40.56% 24.25% -18.09% -7.96% -8.11%
P/E 205x 29.8x 18.9x 18.1x 23.9x 15.1x 11.6x 9.5x
PBR 6.65x 4.47x 4.07x 3.93x 3.17x 2.06x 1.78x 1.56x
PEG - 0x 0.2x 0.5x -1.1x 0.9x 0.4x 0.4x
Capitalization / Revenue 3.43x 1.54x 0.95x 1.01x 1.05x 0.77x 0.67x 0.6x
EV / Revenue 3.35x 1.46x 0.83x 0.91x 1.09x 0.81x 0.65x 0.53x
EV / EBITDA 35x 15x 6.24x 6.13x 7.41x 5.42x 4.27x 3.42x
EV / EBIT 108x 28.7x 13.1x 13.9x 21.8x 14.9x 11.4x 8.43x
EV / FCF 25.2x 14.2x 10.4x 19.5x -8.95x 234x 13.1x 5.22x
FCF Yield 3.97% 7.05% 9.61% 5.13% -11.2% 0.43% 7.62% 19.2%
Dividend per Share 2 0.035 0.3807 1.032 1.325 0.358 1.021 1.271 1.525
Rate of return 0.05% 0.67% 1.59% 1.59% 0.42% 1.62% 2.02% 2.42%
EPS 2 0.3533 1.903 3.44 4.613 3.58 4.152 5.431 6.619
Distribution rate 9.91% 20% 30% 28.7% 10% 24.6% 23.4% 23%
Net sales 1 211,300 424,061 602,315 777,102 803,965 884,590 1,011,579 1,135,685
EBITDA 1 20,236 41,328 80,265 114,749 118,054 132,187 154,276 177,145
EBIT 1 6,571 21,542 38,103 50,486 40,185 48,071 57,978 71,865
Net income 1 3,045 16,622 30,041 40,254 32,619 37,769 49,785 61,120
Net Debt 1 -16,091 -32,260 -71,056 -82,378 28,763 37,666 -19,306 -72,748
Reference price 2 72.40 56.79 64.87 83.51 85.68 62.88 62.88 62.88
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 A 3/28/23 A 3/26/24 A 3/24/25 A 3/27/26 A - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
342.67x13.14x96.45x-.--% 1,431B
9.72x1.25x11.36x3.37% 226B
14.99x0.8x5.38x1.64% 101B
35.81x9.06x23.08x1.09% 76.08B
8.12x0.36x2.86x0.86% 73.41B
7.29x1.19x13.71x3.71% 51.26B
12.09x0.27x3.43x4.89% 49.09B
11.49x0.68x9.22x4.01% 43.72B
21.55x1.26x7.05x2.5% 42.22B
Average 51.53x 3.11x 19.17x 2.45% 232.61B
Weighted average by Cap. 238.80x 9.58x 69.12x 0.85%

Y-o-Y evolution of P/E

Valuation ratios - P/E - BYD Company Limited

Historical PBR trend

Valuation ratios - PBR - BYD Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - BYD Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - BYD Company Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - BYD Company Limited