BYD (BYDDF) (HK:1211)
OTHER OTC:1211
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BYD Co
(OTC:1211)
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Rating:58Neutral
Price Target:
HK$113.00
▲(1.44% Upside)
Action:Reiterated
Date:04/30/26
The score is held back primarily by weakened cash generation (deeply negative free cash flow) alongside slowing revenue and margin compression, with rising leverage adding risk. Technicals are moderately supportive with the stock trading above major moving averages and neutral-to-positive momentum. Valuation is acceptable but not cheap (P/E ~24) with only a modest dividend yield.
Positive Factors
Vertical integration & battery tech
BYD's integrated model—owning vehicle design, battery production and component manufacturing—creates durable cost and supply advantages. Control over battery tech and production secures input availability, supports margin resilience, and enables faster product iteration and scale across EV and energy-storage lines.
Negative Factors
Deeply negative free cash flow
A sustained swing to negative free cash flow erodes financial flexibility: it limits internal funding for capex or strategic initiatives, raises the likelihood of external financing, and increases vulnerability to margin shocks. If persistent, it can force tradeoffs that harm long-term growth or returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & battery tech
BYD's integrated model—owning vehicle design, battery production and component manufacturing—creates durable cost and supply advantages. Control over battery tech and production secures input availability, supports margin resilience, and enables faster product iteration and scale across EV and energy-storage lines.
Read all positive factors
BYD Co (1211) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$882.57B
Dividend Yield1.55%
Average Volume (3M)25.56M
Price to Earnings (P/E)51.9
Beta (1Y)0.96
Revenue Growth-3.19%
EPS Growth-40.56%
CountryHK
Employees968,900
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)2.90
Shares Outstanding3,683,400,000
10 Day Avg. Volume23,671,533
30 Day Avg. Volume25,555,103
Financial Highlights & Ratios
PEG Ratio-0.99
Price to Book (P/B)3.40
Price to Sales (P/S)1.00
P/FCF Ratio-8.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$127.33Price Target Upside14.30% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)4.49
Revenue Forecast (FY)HK$929.17B
BYD Co Business Overview & Revenue Model
Company Description
BYD 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: Recharg...
How the Company Makes Money
BYD primarily makes money by selling vehicles and related automotive products, supplemented by revenue from batteries and other component/system businesses.
1) Vehicle sales (core driver): BYD generates revenue from the sale of new energy vehicle...
BYD Co Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 753.33B | 773.47B | 777.10B | 602.32B | 424.06B | 216.14B |
| Gross Profit | 110.42B | 116.35B | 151.06B | 119.51B | 72.24B | 28.14B |
| EBITDA | 94.26B | 100.35B | 116.85B | 82.38B | 42.68B | 20.51B |
| Net Income | 26.70B | 31.77B | 40.25B | 30.04B | 16.62B | 3.05B |
Balance Sheet | ||||||
| Total Assets | 902.08B | 890.31B | 783.36B | 679.55B | 493.86B | 295.78B |
| Cash, Cash Equivalents and Short-Term Investments | 129.54B | 139.20B | 143.25B | 118.66B | 72.10B | 56.06B |
| Total Debt | 140.40B | 165.42B | 30.24B | 39.15B | 15.36B | 22.41B |
| Total Liabilities | 639.96B | 650.40B | 584.67B | 529.09B | 372.47B | 191.54B |
| Stockholders Equity | 249.92B | 227.64B | 185.25B | 138.81B | 111.03B | 95.07B |
Cash Flow | ||||||
| Free Cash Flow | -88.72B | -94.79B | 36.09B | 47.63B | 43.38B | 28.12B |
| Operating Cash Flow | 53.68B | 57.96B | 133.45B | 169.73B | 140.84B | 65.47B |
| Investing Cash Flow | -183.20B | -192.56B | -129.08B | -125.66B | -120.60B | -45.40B |
| Financing Cash Flow | 88.43B | 101.76B | -10.27B | 12.82B | -19.49B | 16.06B |
BYD Co Technical Analysis
Negative
111.40
Price Trends
102.76
Negative
99.62
Negative
102.85
Negative
Market Momentum
-2.93
Positive
31.96
Neutral
8.48
Positive
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 111.4 is above the 20-day moving average (MA) of 100.39, above the 50-day MA of 102.76, and above the 200-day MA of 102.85, indicating a bearish trend. The MACD of -2.93 indicates Positive momentum. The RSI at 31.96 is Neutral, neither overbought nor oversold. The STOCH value of 8.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1211.
BYD Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$216.62B | 5.70 | 18.03% | 1.95% | 39.48% | -27.45% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$154.80B | 24.70 | 10.49% | 3.41% | 17.13% | -18.63% | |
58 Neutral | HK$882.57B | 51.93 | 11.86% | 1.55% | -3.19% | -40.56% | |
56 Neutral | HK$110.73B | 90.07 | -3.77% | ― | 88.09% | 80.63% | |
49 Neutral | HK$109.02B | 82.52 | -984.82% | ― | 33.63% | 36.31% | |
48 Neutral | HK$125.79B | 4,582.27 | 1.55% | ― | -22.22% | -86.30% |
* Consumer Cyclical Sector Average
HK:1211
BYD Co
90.20
-62.31
-40.86%
HK:0175
Geely Automobile Holdings
19.97
<0.01
0.02%
HK:2333
Great Wall Motor Co
10.85
-0.99
-8.34%
HK:2015
Li Auto, Inc. Class A
61.60
-53.90
-46.67%
HK:9866
NIO Inc. Class A
44.06
13.31
43.28%
HK:9868
XPeng, Inc. Class A
57.95
-19.60
-25.27%
BYD Co Corporate Events
BYD’s First-Quarter Profit Slumps as Revenue and Cash Flow Weaken
Apr 28, 2026
BYD Company Limited reported a sharp downturn in first-quarter 2026 results, with operating revenue falling 11.82% year on year to RMB150.23 billion and net profit attributable to shareholders tumbling 55.38% to RMB4.08 billion. Earnings per share...
BYD Strengthens Corporate Governance With New Nomination Committee Rules
Apr 28, 2026
BYD Company Limited has formalized detailed implementation rules for its Nomination Committee, a special committee under the board of directors tasked with overseeing the selection and governance of directors, the president and other senior office...
BYD Sets June Cut-Off Dates for AGM Voting and 2025 Final Dividend
Apr 22, 2026
BYD Company Limited has announced the closure of its register of members for specific periods in June 2026 to determine shareholder eligibility to attend and vote at its annual general meeting and to receive a proposed final dividend for the 2025 ...
BYD Sets 2025 Final Dividend, Clarifies Tax and Currency Options for H-Share Investors
Apr 22, 2026
BYD Company Limited is a China-based manufacturer operating primarily in the automotive and new energy sectors, with its shares listed in Hong Kong and traded in both Hong Kong dollar and renminbi counters. The group serves a global investor base ...
BYD sets June 2026 AGM to approve 2025 results and expand guarantee framework
Apr 22, 2026
BYD Company Limited has called its annual general meeting for 9 June 2026 in Shenzhen, where shareholders will vote on routine corporate matters including approval of the 2025 board report, audited financial statements, annual report and profit di...
BYD sets April board meeting to approve first-quarter 2026 results
Apr 13, 2026
BYD Company Limited has scheduled a board meeting for 28 April 2026 in Shenzhen to review and approve its unaudited first-quarter results for the period ended 31 March 2026, with a view to subsequently publishing the figures. The meeting will also...
BYD’s March NEV Output Falls by a Third Despite Strong Export and Battery Volumes
Apr 1, 2026
BYD reported a sharp year-on-year decline in March 2026 production and sales of new energy vehicles, with total volumes down about a third versus March 2025 and similar falls in year-to-date figures, reflecting broad weakness across both battery e...
BYD Sets 2025 Final Dividend and Clarifies Cross-Border Tax Treatment
Mar 27, 2026
BYD Company Limited has proposed a final ordinary dividend of RMB 0.358 per share for the financial year ended 31 December 2025, payable on 9 August 2026 upon shareholder approval in June 2026. The dividend for Hong Kong-registered shares will be ...
BYD Publishes Audited 2025 Results as It Expands Global New Energy Footprint
Mar 27, 2026
BYD Company Limited, a leading Chinese new energy and high-tech group, operates across electric vehicles, rechargeable batteries, photovoltaics, handset components and smart electronics, while also expanding into urban rail systems. Its portfolio ...
BYD Sets March Board Meeting to Approve 2025 Results and Final Dividend
Mar 11, 2026
BYD Company Limited, a Shenzhen-based Chinese new energy and technology group best known for its electric vehicles and batteries, is listed on the Hong Kong Stock Exchange with both HKD and RMB counters. The company is chaired by founder Wang Chua...
BYD NEV Output and Sales Slide in February as Exports and Battery Capacity Hold Up
Mar 1, 2026
BYD reported that its February 2026 production and sales of new energy vehicles fell sharply year on year, with total NEV output and sales both down around 38% compared with February 2025, and passenger car volumes particularly affected. Despite t...
BYD’s January NEV Sales Drop 30% Year-on-Year as Exports and Battery Deployments Hold Firm
Feb 1, 2026
BYD reported that its total new energy vehicle production and sales for January 2026 fell sharply year-on-year, with production down 29.13% to 232,358 units and sales down 30.11% to 210,051 units compared with January 2025. The decline was driven ...
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.