Financials BYD Company Limited Thailand S.E.

Equities

BYDCOM80

TH0150120200

Auto & Truck Manufacturers

End-of-day quote Thailand S.E. 03:30:00 04/06/2024 am IST 5-day change 1st Jan Change
1.07 THB +2.88% Intraday chart for BYD Company Limited +8.08% +13.83%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,18,176 5,08,619 7,24,739 6,50,552 5,72,350 6,65,346 - -
Enterprise Value (EV) 1 1,83,247 5,45,613 7,08,260 6,18,292 5,01,295 5,76,128 4,98,373 4,38,976
P/E ratio 69.4 x 116 x 205 x 29.8 x 18.9 x 18.1 x 14.7 x 12.1 x
Yield 0.17% 0.09% 0.05% 0.67% 1.59% 1.47% 1.76% 2.2%
Capitalization / Revenue 0.97 x 3.31 x 3.35 x 1.53 x 0.95 x 0.89 x 0.75 x 0.66 x
EV / Revenue 1.5 x 3.56 x 3.28 x 1.46 x 0.83 x 0.77 x 0.56 x 0.43 x
EV / EBITDA 10.9 x 24.4 x 38.4 x 15 x 6.25 x 6.52 x 4.5 x 3.54 x
EV / FCF 79.4 x 16.1 x 24.5 x 14.2 x 10.4 x 11.7 x 10.7 x 6.21 x
FCF Yield 1.26% 6.21% 4.09% 7.06% 9.6% 8.56% 9.33% 16.1%
Price to Book 1.67 x 8.6 x 6.65 x 4.46 x 4.08 x 3.74 x 3.12 x 2.74 x
Nbr of stocks (in thousands) 27,28,143 27,28,143 29,11,143 29,05,632 29,05,632 29,03,755 - -
Reference price 2 34.72 171.0 217.2 170.1 194.9 213.9 213.9 213.9
Announcement Date 31/03/20 29/03/21 29/03/22 28/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,21,778 1,53,469 2,16,142 4,24,061 6,02,315 7,51,198 8,85,114 10,13,695
EBITDA 1 16,806 22,381 18,465 41,328 80,265 88,347 1,10,630 1,24,113
EBIT 1 7,337 10,193 4,632 21,542 38,103 41,984 52,029 64,061
Operating Margin 6.03% 6.64% 2.14% 5.08% 6.33% 5.59% 5.88% 6.32%
Earnings before Tax (EBT) 1 2,431 6,883 4,518 21,080 37,269 43,409 53,359 64,636
Net income 1 1,614 4,234 3,045 16,622 30,041 34,307 41,418 48,651
Net margin 1.33% 2.76% 1.41% 3.92% 4.99% 4.57% 4.68% 4.8%
EPS 2 0.5000 1.470 1.060 5.710 10.32 11.83 14.55 17.64
Free Cash Flow 1 2,307 33,878 28,949 43,649 48,102 49,308 46,483 70,713
FCF margin 1.89% 22.07% 13.39% 10.29% 7.99% 6.56% 5.25% 6.98%
FCF Conversion (EBITDA) 13.73% 151.37% 156.78% 105.62% 59.93% 55.81% 42.02% 56.97%
FCF Conversion (Net income) 142.89% 800.08% 950.66% 262.59% 160.12% 143.73% 112.23% 145.35%
Dividend per Share 2 0.0600 0.1480 0.1050 1.142 3.096 3.138 3.770 4.703
Announcement Date 31/03/20 29/03/21 29/03/22 28/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 59,594 58,028 95,441 89,131 70,950 1,22,169 66,825 83,782 1,50,607 1,17,081 1,56,373 2,73,453 1,20,174 1,39,951 1,62,151 1,80,041 1,24,944 1,69,836 2,06,479 2,42,484 1,77,263 2,06,435
EBITDA 10,382 9,131 - - - - - - - - - - - - - - - - - - - -
EBIT 1 4,874 3,874 6,319 1,854 763.2 3,269 1,061 3,561 4,622 7,463 9,456 - 5,299 8,433 12,906 11,466 5,798 6,794 11,363 13,422 - -
Operating Margin 8.18% 6.68% 6.62% 2.08% 1.08% 2.68% 1.59% 4.25% 3.07% 6.37% 6.05% - 4.41% 6.03% 7.96% 6.37% 4.64% 4% 5.5% 5.54% - -
Earnings before Tax (EBT) 1 565.2 2,928 3,955 - - 2,314 - - 4,641 - 8,961 16,438 5,217 8,183 12,665 11,203 5,717 19,469 1,03,481 -91,639 - -
Net income 1 157 1,662 2,572 - 602.1 1,872 - 2,787 3,595 5,716 7,311 13,027 4,130 6,824 10,413 8,674 4,569 7,615 11,559 13,253 - -
Net margin 0.26% 2.86% 2.69% - 0.85% 1.53% - 3.33% 2.39% 4.88% 4.68% 4.76% 3.44% 4.88% 6.42% 4.82% 3.66% 4.48% 5.6% 5.47% - -
EPS 2 0.0100 0.5600 0.9100 0.4100 - 0.6500 - - 1.240 - - 4.470 1.420 2.350 3.580 2.970 1.570 2.590 4.090 3.760 - -
Dividend per Share - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 31/03/20 28/08/20 29/03/21 27/08/21 29/03/22 29/03/22 27/04/22 29/08/22 29/08/22 28/10/22 28/03/23 28/03/23 27/04/23 28/08/23 30/10/23 26/03/24 29/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 65,072 36,994 - - - - - -
Net Cash position 1 - - 16,091 32,260 71,056 89,218 1,66,973 2,26,371
Leverage (Debt/EBITDA) 3.872 x 1.653 x - - - - - -
Free Cash Flow 1 2,307 33,878 28,949 43,649 48,102 49,308 46,483 70,713
ROE (net income / shareholders' equity) 2.88% 7.43% 3.73% 16.1% 24.4% 21.1% 22.9% 22.8%
ROA (Net income/ Total Assets) 0.83% 2.14% 1.23% 4.21% 5.12% 4.77% 5.12% 5.18%
Assets 1 1,95,100 1,98,326 2,48,404 3,94,820 5,86,700 7,18,634 8,08,737 9,39,772
Book Value Per Share 2 20.80 19.90 32.70 38.10 47.80 57.20 68.60 78.10
Cash Flow per Share 2 5.400 15.80 22.80 48.40 58.40 38.70 46.30 50.20
Capex 1 12,434 11,515 36,517 97,189 1,21,623 95,025 88,235 88,414
Capex / Sales 10.21% 7.5% 16.89% 22.92% 20.19% 12.65% 9.97% 8.72%
Announcement Date 31/03/20 29/03/21 29/03/22 28/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
30
Last Close Price
213.9 CNY
Average target price
267 CNY
Spread / Average Target
+24.85%
Consensus