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BYD (BYDDF) (HK:1211)
:1211

BYD Co (1211) AI Stock Analysis

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HK:1211

BYD Co

(1211)

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Neutral 59 (OpenAI - 5.2)
Rating:59Neutral
Price Target:
HK$100.00
▼(-1.77% Downside)
The score is driven primarily by solid growth in revenue and earnings, but is held back by negative TTM free cash flow, higher leverage, and margin compression. Technicals add a mild headwind due to the stock trading below key longer-term moving averages and a negative MACD, while valuation is neutral-to-supportive with a ~20x P/E and modest dividend yield.
Positive Factors
Market Position - Global EV Leadership
Sustained volume leadership enhances BYD’s scale advantages: stronger supplier negotiating power, deeper manufacturing footprint, and broader distribution. These structural advantages support margin resilience, R&D investment and global expansion over the coming months and reduce competitive vulnerability.
Vertical Integration - Battery & Energy Capabilities
Owning battery production and energy storage capabilities secures a critical input, lowers unit costs, and captures more value per vehicle. This durable vertical integration reduces supplier risk, supports differentiated product offerings, and enables recurring revenue from battery and energy-system sales.
Durable Revenue Growth
Strong, multi-year top-line momentum provides the firm room to scale fixed-cost absorption, fund ongoing capex and R&D, and expand market share. Sustained revenue growth supports long-term earnings power and reinvestment capacity even if near-term margins fluctuate.
Negative Factors
Rising Leverage
A material increase in leverage reduces financial flexibility and raises refinancing and interest-rate sensitivity. Higher debt loads constrain capital allocation, elevate downside risk in a demand slowdown, and could force prioritization of debt service over strategic investments.
Negative Trailing Free Cash Flow
Negative FCF despite strong operating cash means cash conversion is weaker, likely from heavy capex or working-capital draw. Over months, persistent negative FCF may require external financing, limit dividends or buybacks, and increase execution risk if elevated spending continues.
Product Safety & Regulatory Risk
A large battery-related recall creates warranty, remediation and compliance costs and invites closer regulator scrutiny. Over time this can erode brand trust, raise operating costs for quality control, and pressure margins and sales in safety-sensitive markets if issues persist.

BYD Co (1211) vs. iShares MSCI Hong Kong ETF (EWH)

BYD Co Business Overview & Revenue Model

Company DescriptionBYD Company Limited, together with its subsidiaries, engages in the research, development, manufacture, and sale of automobiles and related products in the People's Republic of China and internationally. It operates through three segments: Rechargeable Batteries and Photovoltaic Products; Mobile Handset Components, Assembly Service and Other Products; and Automobiles and Related Products and Other Products. The company offers internal combustion, hybrid, and battery-electric passenger vehicles; buses, coaches, and taxis; logistics, construction, and sanitation vehicles; and vehicles for warehousing, port, airport, and mining operations. It also manufactures and sells lithium-ion and nickel batteries, photovoltaic products, and iron batteries primarily for mobile phones, electric tools, and other portable electronic instruments; mobile handset components, such as housings and electronic components; medical protection products; and automobiles, and auto-related molds and components, as well as provides assembly, and automobiles leasing and after sales services. In addition, it offers rail transit equipment; solar batteries and arrays; and urban rail transportation services. The company was founded in 1995 and is headquartered in Shenzhen, China.
How the Company Makes MoneyBYD generates revenue primarily through the sale of electric vehicles, including passenger cars, buses, and trucks. The company has established a robust revenue model that includes direct vehicle sales, leasing, and financing options for customers. Additionally, BYD profits from manufacturing lithium iron phosphate batteries, which are essential for its EVs and are also sold to other manufacturers. The company has formed strategic partnerships with various entities, including local governments and businesses, to promote electric public transport solutions, further enhancing its revenue streams. Furthermore, BYD invests in renewable energy projects and energy storage systems, contributing to its earnings through long-term contracts and service agreements.

BYD Co Financial Statement Overview

Summary
Income statement strength (score 78) from strong multi-year revenue and earnings growth is offset by weaker balance sheet and cash flow signals: leverage has stepped up notably (balance sheet score 62) and free cash flow turned negative in TTM despite solid operating cash flow (cash flow score 48), alongside TTM margin compression.
Income Statement
78
Positive
BYD shows strong top-line momentum, with revenue rising sharply over the last several years and still up materially in TTM (Trailing-Twelve-Months) versus the prior annual period. Profitability has also scaled, with net income materially higher than earlier years, supporting a healthier earnings base. The key watch-out is margin pressure in TTM (Trailing-Twelve-Months): gross, EBIT, and net margins are lower than the most recent annual period, suggesting a tougher pricing/cost environment even as the company continues to grow.
Balance Sheet
62
Positive
The balance sheet has expanded significantly alongside growth, and shareholder equity has increased over time, supporting a solid capital base. Returns on equity are strong in the latest periods, reflecting improved earnings power versus earlier years. However, leverage has risen meaningfully in TTM (Trailing-Twelve-Months), with debt-to-equity jumping well above the 2024 annual level, which reduces flexibility and increases sensitivity to operating swings and funding conditions.
Cash Flow
48
Neutral
Operating cash flow remains strong in absolute terms, indicating the core business is generating cash. That said, free cash flow flips negative in TTM (Trailing-Twelve-Months) after being solidly positive in prior annual periods, pointing to heavier investment and/or working-capital drag. With free cash flow below net income in TTM (Trailing-Twelve-Months), cash conversion is currently weaker and introduces near-term funding and execution risk if elevated spend persists.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue841.05B777.10B602.32B424.06B216.14B156.60B
Gross Profit147.96B151.06B119.51B72.24B28.14B30.35B
EBITDA49.07B116.85B82.38B42.68B20.51B22.49B
Net Income38.35B40.25B30.04B16.62B3.05B6.01B
Balance Sheet
Total Assets901.90B783.36B679.55B493.86B295.78B201.02B
Cash, Cash Equivalents and Short-Term Investments175.25B143.25B118.66B72.10B56.06B14.45B
Total Debt124.86B30.24B39.15B15.36B22.41B41.04B
Total Liabilities669.17B584.67B529.09B372.47B191.54B136.56B
Stockholders Equity219.85B185.25B138.81B111.03B95.07B56.87B
Cash Flow
Free Cash Flow-25.34B36.09B47.63B43.38B28.12B33.62B
Operating Cash Flow118.42B133.45B169.73B140.84B65.47B45.39B
Investing Cash Flow-168.73B-129.08B-125.66B-120.60B-45.40B-14.44B
Financing Cash Flow101.77B-10.27B12.82B-19.49B16.06B-28.91B

BYD Co Technical Analysis

Technical Analysis Sentiment
Negative
Last Price101.80
Price Trends
50DMA
97.17
Positive
100DMA
101.20
Negative
200DMA
113.19
Negative
Market Momentum
MACD
0.82
Negative
RSI
48.65
Neutral
STOCH
66.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1211, the sentiment is Negative. The current price of 101.8 is above the 20-day moving average (MA) of 98.18, above the 50-day MA of 97.17, and below the 200-day MA of 113.19, indicating a neutral trend. The MACD of 0.82 indicates Negative momentum. The RSI at 48.65 is Neutral, neither overbought nor oversold. The STOCH value of 66.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1211.

BYD Co Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
$182.45B9.3717.60%1.95%
67
Neutral
HK$176.82B9.7013.04%3.41%7.93%-12.94%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
59
Neutral
HK$944.35B22.1319.95%1.55%22.94%10.22%
59
Neutral
HK$138.28B29.157.01%-10.21%-54.95%
53
Neutral
HK$142.71B-44.98-9.03%86.21%51.50%
49
Neutral
HK$60.83B-89.89-4.91%139.96%86.04%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1211
BYD Co
101.80
11.80
13.10%
HK:0175
Geely Automobile Holdings
16.80
2.77
19.74%
HK:2333
Great Wall Motor Co
13.55
1.37
11.21%
HK:2015
Li Auto, Inc. Class A
67.70
-24.20
-26.33%
HK:9863
Zhejiang Leapmotor Technology Co., Ltd. Class H
42.16
9.71
29.92%
HK:9868
XPeng, Inc. Class A
72.90
14.45
24.72%

BYD Co Corporate Events

BYD Posts Record 2025 NEV Sales as Battery EVs and Exports Drive Growth
Jan 1, 2026

BYD reported that its total NEV production reached 419,804 units in December 2025, with sales of 420,398 units, taking full‑year 2025 sales to 4.60 million vehicles, up 7.73% year on year. Passenger NEVs remained the core of the business, with battery electric vehicle sales for the year jumping 27.86%, offsetting declines in plug‑in hybrid volumes, while commercial NEV sales more than doubled from a low base, driven largely by non‑bus models. The company exported 133,172 NEVs in December, underscoring its accelerating push into overseas markets, and reported installed capacity of NEV power and energy‑storage batteries of about 27.4 GWh for the month and 285.6 GWh for 2025, highlighting its scale in battery manufacturing; the figures are unaudited and subject to final confirmation.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Posts Higher 2025 New Energy Vehicle Sales and Expanding Battery Output
Jan 1, 2026

BYD Company Limited, a leading Chinese manufacturer of new energy vehicles and power batteries, reported solid production and sales figures for December 2025, underscoring its scale in both domestic and export markets and its role as a major supplier of EV batteries and energy storage systems. The company produced 419,804 new energy vehicles in December 2025 and sold 420,398 units, with full-year 2025 NEV sales reaching 4.6 million units, up 7.73% year-on-year, driven mainly by battery electric vehicles, whose annual sales rose nearly 28%, while plug-in hybrid volumes declined from the prior year. Commercial NEV sales more than doubled year-on-year on a full-year basis, and exports of new energy vehicles reached 133,172 units in December alone, highlighting accelerating international expansion. BYD also installed approximately 27.352 GWh of NEV power and energy storage battery capacity in December and 285.634 GWh over 2025, reflecting its growing influence in the global battery supply chain, although the company cautioned that the reported volumes are unaudited and subject to final confirmation.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD’s EGM Approves Key Amendments to Strengthen Governance
Dec 5, 2025

BYD Company Limited announced that all resolutions proposed at its Extraordinary General Meeting (EGM) were approved by shareholders. The approved amendments to the Articles of Association and internal rules are expected to enhance corporate governance and operational efficiency, potentially strengthening BYD’s market position and stakeholder confidence.

The most recent analyst rating on (HK:1211) stock is a Hold with a HK$90.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Reports Robust Growth in November 2025 NEV Production and Sales
Dec 1, 2025

BYD Company Limited announced its production and sales volume for November 2025, highlighting a total production of 474,175 units and sales of 480,186 units. The company reported significant year-on-year growth in its commercial vehicle segment, with a notable increase in export volumes of new energy vehicles, reaching 131,935 units. The installed capacity of NEV power and energy storage batteries for November was approximately 27.669 GWh, contributing to a cumulative capacity of 258.282 GWh for the year. These figures, although unaudited, reflect BYD’s strong market presence and commitment to expanding its new energy vehicle offerings.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Announces EGM and Closure of Member Register
Nov 12, 2025

BYD Company Limited has announced the closure of its register of members from December 2 to December 5, 2025, in preparation for an Extraordinary General Meeting (EGM) scheduled on December 5, 2025. This meeting will address proposed amendments to the Articles of Association and internal regulations, impacting shareholder voting rights and company governance.

The most recent analyst rating on (HK:1211) stock is a Hold with a HK$90.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Announces Extraordinary General Meeting to Revise Governance Documents
Nov 12, 2025

BYD Company Limited has announced an Extraordinary General Meeting (EGM) scheduled for December 5, 2025, to consider and approve various amendments to its corporate governance documents. These include changes to the Articles of Association, Rules of Procedure for Shareholders’ General Meetings, and the Management System for Funds Raised, among others. The proposed amendments are aimed at enhancing the company’s operational efficiency and compliance, potentially impacting its governance structure and stakeholder engagement.

The most recent analyst rating on (HK:1211) stock is a Hold with a HK$90.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Reports Strong NEV Sales Growth in October 2025
Nov 2, 2025

BYD Company Limited reported a significant increase in production and sales volumes for October 2025, with a notable year-on-year growth in battery electric vehicles. The company achieved a total sales volume of 441,706 units, marking a 13.88% increase from the previous year. The export volume of NEVs reached 83,904 units, and the installed capacity of NEV power batteries was approximately 27.362 GWh for the month. These figures underscore BYD’s strong positioning in the NEV market, reflecting its ongoing commitment to innovation and market expansion.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Proposes Amendments to Enhance Corporate Governance
Oct 30, 2025

BYD Company Limited has announced proposed amendments to its Articles of Association and relevant procedural rules. These changes are aimed at aligning with the latest regulatory requirements and enhancing corporate governance. The amendments reflect the company’s commitment to safeguarding the rights of its shareholders, employees, and creditors, potentially strengthening its operational framework and market position.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Strengthens Governance with New Audit Committee
Oct 30, 2025

BYD Company Limited has established an Audit Committee to enhance its corporate governance structure and ensure effective oversight of its financial and operational activities. The committee, composed of independent non-executive directors with accounting expertise, is tasked with reviewing financial information, supervising internal and external audits, and maintaining transparency in financial disclosures. This move is expected to strengthen BYD’s decision-making processes and accountability, potentially boosting stakeholder confidence and aligning with regulatory requirements.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Enhances Corporate Governance with New Nomination Committee Rules
Oct 30, 2025

BYD Company Limited has announced the implementation of new rules for its Nomination Committee, aimed at enhancing corporate governance and improving the nomination process for directors and senior officers. The committee will consist of at least three directors, with a majority being independent non-executive directors, and will be responsible for identifying qualified candidates to strengthen the company’s competitiveness. This move is expected to streamline the decision-making process and ensure a diverse and competent leadership team, potentially impacting the company’s strategic direction and stakeholder confidence.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Enhances Governance with New Remuneration Committee
Oct 30, 2025

BYD Company Limited has established a Remuneration Committee as part of its corporate governance structure to oversee the remuneration policies for directors and senior management. This move aims to enhance regulatory compliance, improve corporate governance, and ensure effective monitoring and incentive mechanisms, thereby potentially strengthening BYD’s industry positioning and stakeholder confidence.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Enhances Governance with New Remuneration Committee
Oct 30, 2025

BYD Company Limited has established a Remuneration Committee as part of its corporate governance structure to oversee the remuneration policies for directors and senior management. This move aims to enhance regulatory compliance, improve corporate governance, and ensure effective monitoring and incentive mechanisms, thereby potentially strengthening BYD’s industry positioning and stakeholder confidence.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

BYD Reports Decline in Q3 2025 Profits Amid Asset Growth
Oct 30, 2025

BYD Company Limited has reported a decline in its financial performance for the third quarter of 2025, with a 3.05% decrease in operating revenue and a significant drop of 32.60% in net profit attributable to shareholders compared to the same period last year. Despite these declines, the company saw a 15.14% increase in total assets and a 32.53% rise in total owners’ equity, indicating a strong asset base and shareholder equity growth.

The most recent analyst rating on (HK:1211) stock is a Buy with a HK$130.00 price target. To see the full list of analyst forecasts on BYD Co stock, see the HK:1211 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 14, 2026