BYD Co Ltd

BYD Co Ltd exhibits a capital structure characterized by significant leverage and tight liquidity. The company reports total liabilities of CNY 637.5 billion against total equity of CNY 246.3 billion, resulting in a debt-to-equity ratio of 1.02. Long-term debt stands at CNY 251.2 billion. Liquidity is constrained, with a current ratio of 0.79, indicating that current liabilities exceed current assets. The risk assessment flags medium liquidity risk and notes that net cash is negative after subtracting total debt. Free cash flow is deeply negative at CNY -57.6 billion, driven by substantial capital expenditures of CNY 156.8 billion, despite positive operating cash flow of CNY 59.1 billion.

Profitability metrics show modest returns relative to the capital base. Return on equity is 13.24%, while return on assets is 3.69%. The company generates a gross profit of CNY 134.5 billion on revenue of CNY 804.0 billion, yielding a gross margin of approximately 16.7%. Operating income is CNY 40.2 billion, leading to a net income of CNY 32.6 billion. Without cohort median data provided in the input, direct comparative analysis against industry peers is omitted, but the absolute scale of revenue and profit indicates a large-cap operation.

Segment and geographic revenue mix data is absent from the provided input. Consequently, specific analysis of revenue concentration by business unit or region cannot be performed. The company’s activity is broadly classified under Automobiles, suggesting primary exposure to the automotive manufacturing and sales cycle.

Growth trajectory analysis is limited by the absence of historical period data in the input. Only the latest normalized period’s financials are available. Revenue for the latest period is CNY 804.0 billion. Without prior year or quarterly trend data, year-over-year growth rates and momentum cannot be calculated.

Risk factors include medium liquidity risk and low dilution risk. A key flag indicates that net cash is negative after subtracting total debt, highlighting reliance on external financing or operating cash flow to service obligations. The negative free cash flow of CNY -57.6 billion underscores the capital-intensive nature of the business, requiring continuous investment in capacity or technology.

Recent events include analyst coverage with a mean price target of CNY 18.50, a median of CNY 18.50, a high of CNY 22.00, and a low of CNY 15.00. The mean recommendation is 1.50, indicating a strong buy consensus, with one strong buy and one buy rating, and no hold ratings. News observations reference a system-level refusal recovery event, which does not constitute a fundamental business event.

Revenue ¥803.96B, +3,5% YoY; Operating income −20,4% YoY.

• ▍Revenue ¥803.96B, +3,5% YoY
• ▍Operating income −20,4% YoY
• ▍Net income −19,0% YoY
• ▍Free cash flow −17 333,7% YoY
• ▍Net margin 4.1%

Revenue ¥777.10B, +29,0% YoY; Operating income +32,5% YoY.

• ▍Revenue ¥777.10B, +29,0% YoY
• ▍Operating income +32,5% YoY
• ▍Net income +34,0% YoY
• ▍Free cash flow +99,4% YoY
• ▍Net margin 5.2%

Revenue ¥602.32B, +42,0% YoY; Operating income +76,9% YoY.

• ▍Revenue ¥602.32B, +42,0% YoY
• ▍Operating income +76,9% YoY
• ▍Net income +80,7% YoY
• ▍Free cash flow +15,7% YoY
• ▍Net margin 5.0%

Revenue ¥424.06B, +96,2% YoY; Operating income +365,1% YoY.

• ▍Revenue ¥424.06B, +96,2% YoY
• ▍Operating income +365,1% YoY
• ▍Net income +445,9% YoY
• ▍Free cash flow −180,8% YoY
• ▍Net margin 3.9%