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Consumer Durables

BYD Co., Ltd.

Company Background

BYD is a major Chinese automaker based in Shenzhen, Guangdong Province. It sells vehicles under the BYD brand.

Founded in 1995, BYD started out as a battery maker and entered the automobile business in 2003. The company has diversified into areas such as cellphone assembly and solar cell manufacturing. Leveraging its strength as a battery maker, the company is developing electric and plug-in hybrid vehicles.

BYD Chairman Wang Chuanfu, who was once the richest man in China, still has supreme power within the company. Wang holds about a 23% stake in BYD as of March 2015, making him the largest shareholder. A subsidiary of Berkshire Hathaway, run by U.S. billionaire investor Warren Buffett, bought into the company in 2008. It is still a major shareholder with about a 9% stake.

Business Summary

BYD Co., Ltd. engages in the research, development, manufacture, and sale of rechargeable batteries and photovoltaic business. It operates through the following segments: Rechargeable Batteries and Photovoltaic Products, Mobile Handset Components, Assembly Service and Other Products, and Automobiles and Related Products and Other Products. The Rechargeable Batteries and Photovoltaic Products segment is involved in the manufacture and sale of lithium-ion batteries and nickel batteries, photovoltaic products, and iron batteries products for mobile phones, electric tools, and other portable electronic instruments, photovoltaic products, energy storage products, and electric vehicles. The Mobile Handset Components, Assembly Service and Other Products segment focuses on the sale of mobile handset components such as housings, electronic components, assembly services, and medical protection products. The Automobiles and Related Products and Other Products segment consists of automobiles and auto-related moulds and components and automobile leasing and after sales services, rail transport related business, and medical protection products. The company was founded by Chuan Fu Wang on February 10, 1995 and is headquartered in Shenzhen, China.

Financial Highlights

Dec 2022 HKDUSD
Revenue479,771.80M61,269.71M
Gross Profit66,778.53M8,528.01M
Operating income22,435.41M2,865.13M
Income before tax25,310.75M3,232.33M
Net income19,329.88M2,468.54M
EBITDA46,123.25M5,890.21M
Diluted EPS6.640.84
Dividends Per Share1.260.16
Total Assets557,195.78M71,390.05M
Total liabilities420,906.59M53,928.16M
Total equity124,657.00M15,971.53M
Operating cash flow163,927.43M20,934.50M
Currency in HKDCurrency in USD

Historical Data

HKD | USD
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 151,502.40M 143,075.23M 173,546.88M 256,839.51M 479,771.80M
Gross Profit 20,880.04M 19,610.81M 29,161.54M 27,443.41M 66,778.53M
Operating income 6,115.81M 5,098.61M 11,123.22M 5,072.80M 22,435.41M
Income before tax 5,460.76M 3,236.09M 7,943.86M 5,620.25M 25,310.75M
Net income 3,293.01M 1,830.65M 4,758.01M 3,670.09M 19,329.88M
EBITDA 17,281.09M 16,256.50M 25,190.37M 22,076.38M 46,123.25M
Diluted EPS 1.20 0.67 1.74 1.27 6.64
Dividends Per Share 0.23 0.06 0.17 0.12 1.26
Total Assets 222,895.98M 219,439.31M 239,129.72M 362,922.08M 557,195.78M
Total liabilities 155,934.07M 151,832.60M 161,317.93M 229,922.22M 420,906.59M
Total equity 58,503.15M 58,578.26M 66,134.63M 116,295.46M 124,657.00M
Operating cash flow 14,638.30M 16,518.91M 51,032.47M 79,072.64M 163,927.43M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 19,330.33M 18,260.57M 22,375.83M 33,043.21M 61,269.71M
Gross Profit 2,664.10M 2,502.91M 3,759.87M 3,530.68M 8,528.01M
Operating income 780.32M 650.73M 1,434.14M 652.63M 2,865.13M
Income before tax 696.74M 413.01M 1,024.22M 723.06M 3,232.33M
Net income 420.15M 233.64M 613.46M 472.16M 2,468.54M
EBITDA 2,204.91M 2,074.80M 3,247.85M 2,840.19M 5,890.21M
Diluted EPS 0.15 0.08 0.22 0.16 0.84
Dividends Per Share 0.02 0.00 0.02 0.01 0.16
Total Assets 28,469.28M 28,162.85M 30,840.12M 46,550.55M 71,390.05M
Total liabilities 19,916.60M 19,486.20M 20,804.88M 29,491.19M 53,928.16M
Total equity 7,472.28M 7,517.93M 8,529.26M 14,916.75M 15,971.53M
Operating cash flow 1,867.71M 2,108.29M 6,579.74M 10,172.94M 20,934.50M

Valuation Measures

Dec 2022
PER29.00
ROA4.20%
ROE16.04%
Operating margin4.67%
Profit margin4.02%

Key executives

  • Chairman, President & General Manager: Chuan Fu Wang
  • Chief Financial Officer: Ya Lin Zhou
  • Executive Vice President: Yu Bo Lian
  • Senior Vice President: Hong Bin Luo
  • Vice President: Huan Ming Liu

Shareholders

  • Berkshire Hathaway, Inc. (9.8%)
  • Himalaya Capital Management LLC (5.7%)
  • The Vanguard Group, Inc. (2.6%)
  • BlackRock Fund Advisors (2.1%)
  • Hang Seng Investment Management Ltd. (1.4%)
  • Norges Bank Investment Management (1.0%)
  • BlackRock Advisors (UK) Ltd. (0.9%)
  • Fidelity Management & Research Co. LLC (0.6%)
  • Global X Management Co. LLC (0.5%)
  • First Seafront Fund Management Co., Ltd. (0.5%)

Contact Details

  • Website:http://www.bydglobal.com
  • Address: 3009 BYD Road, Pingshan District, Shenzhen, 518118, China
  • Phone: +86.755.8988.8888

Related Companies

  • BYD Co. Ltd. ESOP
  • BYD Auto Finance Co., Ltd.
  • Huizhou Byd Battery Co., Ltd.
  • BYD (Shenzhen) Supply Chain Management Co., Ltd.
  • Changsha BYD Auto Co., Ltd.
  • BYD Motors, Inc.
  • BYD (Shangluo) Industrial Co., Ltd.
  • BYD Auto Industry Co., Ltd.
  • Ogihara Corp. /Tatebayashi Ops/
  • Shanghai BYD Co. Ltd.
  • BYD Lithium Batteries Co., Ltd.
  • BYD Industry & Commerce Co., Ltd.
  • Byd Electronic Hungary Ltd.
  • Beijing Byd Mould Co. Ltd.
  • BYD Automobile Industry Co., Ltd.
  • BYD (Huizhou) Co. Ltd.
  • BYD Auto Sales Co., Ltd.
  • BYD Battery Co. Ltd.
  • BYD America Corp.
  • BYD (Ningbo) Semi-conductor Co., Ltd.
  • BYD Hungary Kft
  • BYD (H.K.) Co. Ltd.
  • Shanghai BYD Lithium Battery Co. Ltd.
  • BYD Auto Co., Ltd.
  • Xian Zhen Chuan Automobile Ltd
  • BYD Electronic (International) Co., Ltd.

Competitors

  • LVMC Holdings Co. Ltd.
  • Cummins Inc.
  • Universal Scientific Industrial (Shanghai) Co., Ltd. Class A
  • Guangdong Greenway Technology Co., Ltd. Class A
  • Phinergy Ltd
  • Xiamen King Long Motor Group Co. Ltd. Class A
  • Enphase Energy, Inc.
  • NFI Group Inc.
  • Beiqi Foton Motor Co., Ltd. Class A
  • Taiwan Cement Corp.
  • SolarEdge Technologies, Inc.
  • Nolato AB Class B
  • Alelion Energy Systems AB
  • Dynapack International Technology Corporation
  • Eos Energy Enterprises, Inc. Class A
  • SYNergy ScienTech Corp.
  • Advanced Energy Solution Holding Co., Ltd.
  • Blivex Energy Technology Co., Ltd Class A
  • FREYR Battery
  • CBAK Energy Technology, Inc.
  • Electrovaya Inc.
  • Envirotech Vehicles Inc
  • Lion Electric Company
  • Nxu, Inc. Class A
  • Microvast Holdings, Inc.
  • NHOA SA
  • Xos, Inc.
  • Nikola Corporation
  • Proterra Inc.
  • Trina Solar Ltd Class A

Copyright © 2023 FactSet Research Systems Inc. All rights reserved.

Last Updated on 5 Jun, 2023

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