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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 2019 HKDUSD
Revenue138,086.21M17,623.83M
Gross Profit20,357.53M2,598.21M
Operating income3,832.86M489.18M
Income before tax3,236.09M413.01M
Net income1,830.65M233.64M
EBITDA14,987.91M1,912.89M
Diluted EPS0.670.08
Dividends Per Share0.060.00
Total Assets220,034.84M28,239.28M
Total liabilities152,428.13M19,562.63M
Total equity58,578.26M7,517.93M
Operating cash flow12,475.35M1,592.21M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 95,732.88M 117,084.53M 118,365.07M 144,255.73M 138,086.21M
Gross Profit 13,829.57M 22,567.45M 20,857.78M 21,539.22M 20,357.53M
Operating income 4,410.92M 9,295.36M 7,161.73M 5,022.34M 3,832.86M
Income before tax 4,980.52M 8,375.49M 6,739.98M 5,460.76M 3,236.09M
Net income 3,432.29M 5,655.18M 4,407.59M 3,010.56M 1,830.65M
EBITDA 10,965.16M 17,377.08M 15,190.78M 16,015.96M 14,987.91M
Diluted EPS 1.38 2.19 1.61 1.10 0.67
Dividends Per Share 0 0.62 0.17 0.23 0.06
Total Assets 137,832.93M 161,846.96M 213,798.62M 221,880.51M 220,034.84M
Total liabilities 96,805.74M 102,641.80M 144,492.01M 154,918.59M 152,428.13M
Total equity 34,724.34M 52,948.48M 61,352.83M 58,503.15M 58,578.26M
Operating cash flow 2,611.97M -4,669.03M 4,315.21M 10,702.01M 12,475.35M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 12,348.52M 15,083.43M 15,188.99M 18,405.72M 17,623.83M
Gross Profit 1,783.86M 2,907.25M 2,676.54M 2,748.21M 2,598.21M
Operating income 568.96M 1,197.47M 919.01M 640.80M 489.18M
Income before tax 642.43M 1,078.97M 864.89M 696.74M 413.01M
Net income 442.73M 728.53M 565.59M 384.12M 233.64M
EBITDA 1,414.39M 2,238.60M 1,949.33M 2,043.49M 1,912.89M
Diluted EPS 0.17 0.28 0.20 0.14 0.08
Dividends Per Share 0 0.08 0.02 0.02 0.00
Total Assets 17,784.54M 20,874.99M 27,349.42M 28,339.58M 28,239.28M
Total liabilities 12,490.82M 13,238.72M 18,483.62M 19,786.90M 19,562.63M
Total equity 4,480.47M 6,829.28M 7,848.34M 7,472.28M 7,517.93M
Operating cash flow 336.91M -601.48M 553.74M 1,365.48M 1,592.21M

Valuation Measures

Dec 2019
PER51.76
ROA0.82%
ROE3.12%
Operating margin2.77%
Profit margin1.32%

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. (24.5%)
  • Himalaya Capital Management LLC (8.2%)
  • The Vanguard Group, Inc. (2.7%)
  • BlackRock Fund Advisors (1.6%)
  • Norges Bank Investment Management (0.9%)
  • Schroder Investment Management (Hong Kong) Ltd. (0.7%)
  • Dimensional Fund Advisors LP (0.6%)
  • Global X Management Co. LLC (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • RobecoSAM AG (0.4%)

Contact Details

  • Website:http://www.byd.com.cn
  • Address: No.1, Yan'an Road, Kuichong Street, Shenzhen, 518118, China
  • Phone: +86.755.8988.8888

Related Companies

  • 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 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
  • XPeng, Inc. ADR Sponsored Class A
  • LVMC Holdings Co. Ltd.
  • CBAK Energy Technology, Inc.
  • SHIN HEUNG ENERGY & ELECTRONICS Co., Ltd.
  • China Shipbuilding Industry Group Power Co., Ltd. Class A
  • Cummins Inc.
  • SolarEdge Technologies, Inc.
  • Electrovaya Inc.
  • Baoli New Energy Technology Co., Ltd. Class A
  • Canadian Solar Inc.
  • Xiamen King Long Motor Group Co. Ltd. Class A
  • Nolato AB Class B
  • ADOMANI, Inc.
  • Advanced Lithium Electrochemistry (Cayman) Co. Ltd.
  • Ecopro BM Co., Ltd.
  • Ecopro Co., Ltd.
  • Engie EPS SA
  • Gentex Corporation
  • Mechema Chemicals International Corp.
  • NFI Group Inc.
  • SEOWONINTECH Co., Ltd.
  • SYNergy ScienTech Corp.
  • Tianjin Motor Dies Co. Ltd. Class A
  • Will Semiconductor Ltd. Class A
Last Updated on 27 Nov, 2020

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