BYD (BYDDF) (HK:1211)
:1211
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BYD Co
(1211)
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Rating:64Neutral
Price Target:
HK$114.00
▲(9.72% Upside)
Action:ReiteratedDate:03/29/26
The score is most constrained by financial fundamentals in the latest period—negative free cash flow and a sharp increase in debt alongside softer revenue/operating profit. Technicals are supportive with an improving trend and positive momentum. Valuation is a modest headwind given the higher P/E and limited dividend yield.
Positive Factors
Vertical integration & battery manufacturing
BYD’s in-house battery, powertrain and component manufacturing creates a durable cost and supply advantage. Owning critical inputs reduces exposure to outsourced shortages and input-price swings, supports faster product iteration, and helps protect margins as volumes scale globally.
Negative Factors
Large increase in total debt
A material rise in debt materially raises financial leverage and refinancing exposure. Higher interest and principal obligations reduce capital flexibility for R&D, capex or M&A, and increase downside risk if demand softens or margins compress, making strategy execution more rate‑sensitive.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & battery manufacturing
BYD’s in-house battery, powertrain and component manufacturing creates a durable cost and supply advantage. Owning critical inputs reduces exposure to outsourced shortages and input-price swings, supports faster product iteration, and helps protect margins as volumes scale globally.
Read all positive factors
BYD Co (1211) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$975.34B
Dividend Yield1.55%
Average Volume (3M)34.70M
Price to Earnings (P/E)24.3
Beta (1Y)0.93
Revenue Growth22.94%
EPS Growth10.22%
CountryHK
Employees968,900
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)1.18
Shares Outstanding3,683,400,000
10 Day Avg. Volume39,705,997
30 Day Avg. Volume34,700,886
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$124.05Price Target Upside19.40% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)4.63
Revenue Forecast (FY)HK$937.20B
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
74
Positive
Balance Sheet
66
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 773.47B | 777.10B | 602.32B | 424.06B | 216.14B |
| Gross Profit | 116.35B | 151.06B | 119.51B | 72.24B | 28.14B |
| EBITDA | 100.35B | 116.85B | 82.38B | 42.68B | 20.51B |
| Net Income | 31.77B | 40.25B | 30.04B | 16.62B | 3.05B |
Balance Sheet | |||||
| Total Assets | 890.31B | 783.36B | 679.55B | 493.86B | 295.78B |
| Cash, Cash Equivalents and Short-Term Investments | 139.20B | 143.25B | 118.66B | 72.10B | 56.06B |
| Total Debt | 165.42B | 30.24B | 39.15B | 15.36B | 22.41B |
| Total Liabilities | 650.40B | 584.67B | 529.09B | 372.47B | 191.54B |
| Stockholders Equity | 227.64B | 185.25B | 138.81B | 111.03B | 95.07B |
Cash Flow | |||||
| Free Cash Flow | -94.79B | 36.09B | 47.63B | 43.38B | 28.12B |
| Operating Cash Flow | 57.96B | 133.45B | 169.73B | 140.84B | 65.47B |
| Investing Cash Flow | -192.56B | -129.08B | -125.66B | -120.60B | -45.40B |
| Financing Cash Flow | 101.76B | -10.27B | 12.82B | -19.49B | 16.06B |
BYD Co Technical Analysis
Positive
103.90
Price Trends
98.88
Positive
98.08
Positive
106.25
Negative
Market Momentum
2.06
Negative
54.40
Neutral
48.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1211, the sentiment is Positive. The current price of 103.9 is above the 20-day moving average (MA) of 102.30, above the 50-day MA of 98.88, and below the 200-day MA of 106.25, indicating a neutral trend. The MACD of 2.06 indicates Negative momentum. The RSI at 54.40 is Neutral, neither overbought nor oversold. The STOCH value of 48.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$258.31B | 9.90 | 18.03% | 1.95% | ― | ― | |
66 Neutral | HK$178.22B | 12.11 | 11.66% | 3.41% | 7.93% | -12.94% | |
64 Neutral | HK$975.34B | 24.33 | 14.29% | 1.55% | 22.94% | 10.22% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$146.56B | 107.16 | 1.55% | ― | -10.21% | -54.95% | |
53 Neutral | HK$129.45B | -122.26 | -9.33% | ― | 86.21% | 51.50% | |
40 Underperform | HK$109.32B | -5.74 | -984.82% | ― | 14.73% | 2.81% |
* Consumer Cyclical Sector Average
HK:1211
BYD Co
103.90
-5.03
-4.62%
HK:0175
Geely Automobile Holdings
23.82
10.12
73.91%
HK:2333
Great Wall Motor Co
13.45
2.46
22.38%
HK:2015
Li Auto, Inc. Class A
71.80
-9.40
-11.58%
HK:9866
NIO Inc. Class A
48.70
22.85
88.39%
HK:9868
XPeng, Inc. Class A
67.75
0.40
0.59%
BYD Co Corporate Events
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 ...
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, wi...
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 suppl...
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.