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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 its business through four segments: Rechargeable Battery and Other Products; Mobile Handset Components and Assembly Service; Automobiles and Related Products; and Corporate and Others. The Rechargeable Battery and Other Products segment manufactures and sells lithium-ion and nickel batteries principally for mobile phones, electric tool, and other portable electronic instruments and new energy products. The Mobile Handset Components and Assembly Service segment consists of mobile handset components such as housings, keypads, and the provision of assembly services. The Automobiles and Related Products segment comprises of automobiles, auto-related moulds and components, automobiles leasing, after sales service, and skyrail related business. The company was founded by Chuan Fu Wang on February 10, 1995 and is headquartered in Shenzhen, China.

Financial Highlights

Dec 2021 HKDUSD
Revenue254,660.97M32,762.93M
Gross Profit25,155.69M3,236.35M
Operating income4,026.08M517.96M
Income before tax5,620.25M723.06M
Net income3,646.86M469.18M
EBITDA21,026.55M2,705.13M
Diluted EPS1.060.13
Dividends Per Share0.120.01
Total Assets362,922.08M46,550.55M
Total liabilities229,922.22M29,491.19M
Total equity116,295.46M14,916.75M
Operating cash flow76,296.38M9,815.77M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 118,365.07M 144,255.73M 138,086.21M 172,452.30M 254,660.97M
Gross Profit 20,857.78M 21,539.22M 20,357.53M 27,338.09M 25,155.69M
Operating income 7,161.73M 5,022.34M 3,832.86M 10,350.48M 4,026.08M
Income before tax 6,739.98M 5,460.76M 3,236.09M 7,943.86M 5,620.25M
Net income 4,407.59M 3,010.56M 1,830.65M 4,514.58M 3,646.86M
EBITDA 15,190.78M 16,015.96M 14,987.91M 24,414.61M 21,026.55M
Diluted EPS 1.49 1.01 0.59 1.55 1.06
Dividends Per Share 0.17 0.23 0.06 0.17 0.12
Total Assets 213,798.62M 221,880.51M 219,439.31M 239,129.72M 362,922.08M
Total liabilities 144,492.01M 154,918.59M 151,832.60M 161,317.93M 229,922.22M
Total equity 61,352.83M 58,503.15M 58,578.26M 66,134.63M 116,295.46M
Operating cash flow 4,315.21M 10,702.01M 12,475.35M 46,766.25M 76,296.38M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 15,188.99M 18,405.72M 17,623.83M 22,234.71M 32,762.93M
Gross Profit 2,676.54M 2,748.21M 2,598.21M 3,524.76M 3,236.35M
Operating income 919.01M 640.80M 489.18M 1,334.51M 517.96M
Income before tax 864.89M 696.74M 413.01M 1,024.22M 723.06M
Net income 565.59M 384.12M 233.64M 582.07M 469.18M
EBITDA 1,949.33M 2,043.49M 1,912.89M 3,147.83M 2,705.13M
Diluted EPS 0.19 0.13 0.07 0.20 0.13
Dividends Per Share 0.02 0.02 0.00 0.02 0.01
Total Assets 27,349.42M 28,339.58M 28,162.85M 30,840.12M 46,550.55M
Total liabilities 18,483.62M 19,786.90M 19,486.20M 20,804.88M 29,491.19M
Total equity 7,848.34M 7,472.28M 7,517.93M 8,529.26M 14,916.75M
Operating cash flow 553.74M 1,365.48M 1,592.21M 6,029.69M 9,815.77M

Valuation Measures

Dec 2021
PER205.60
ROA1.21%
ROE3.99%
Operating margin1.58%
Profit margin1.43%

Key executives

  • Chairman, President & General Manager: Chuan Fu Wang
  • Chief Financial Officer: Ya Lin Zhou
  • Vice President: Huan Ming Liu
  • Vice President & General Manager-Division I: Nian Qiang Wang
  • Vice President & General Manager-Division 14: Hong Bin Luo

Shareholders

  • Berkshire Hathaway, Inc. (18.8%)
  • Himalaya Capital Management LLC (5.7%)
  • The Vanguard Group, Inc. (2.3%)
  • BlackRock Fund Advisors (2.0%)
  • Norges Bank Investment Management (1.2%)
  • BlackRock Advisors (UK) Ltd. (0.9%)
  • First Seafront Fund Management Co., Ltd. (0.8%)
  • State Street Global Advisors Asia Ltd. (0.7%)
  • Global X Management Co. LLC (0.6%)
  • Jennison Associates LLC (0.5%)

Contact Details

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

  • Great Wall Motor Co., Ltd. Class H
  • LVMC Holdings Co. Ltd.
  • Cummins Inc.
  • Universal Scientific Industrial (Shanghai) Co., Ltd. Class A
  • Phinergy Ltd
  • Microvast Holdings, Inc.
  • Enphase Energy, Inc.
  • Beiqi Foton Motor Co., Ltd. Class A
  • Taiwan Cement Corp.
  • SolarEdge Technologies, Inc.
  • Dynapack International Technology Corporation
  • Enovix Corporation
  • Eos Energy Enterprises, Inc. Class A
  • FREYR Battery
  • SYNergy ScienTech Corp.
  • Advanced Energy Solution Holding Co., Ltd.
  • Blivex Energy Technology Co., Ltd Class A
  • Lion Electric Company
  • Electrovaya Inc.
  • CBAK Energy Technology, Inc.
  • NHOA SA
  • Nikola Corporation
  • Xiamen King Long Motor Group Co. Ltd. Class A
  • Nolato AB Class B
  • Augwind Energy Tech Storage Ltd.
  • Blackstone Resources AG
  • Ebusco Holding N.V.
  • Envirotech Vehicles Inc
  • Gentex Corporation
  • Mechema Chemicals International Corp.
Last Updated on 29 Sep, 2022

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