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BYD Co Ltd Class A (002594) fair value: what the stock is really worth

We calculate from audited financials what BYD Co Ltd Class A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · CN · ISIN CNE100001526

BC BYD Co Ltd Class A logo Broad data Sep 17, 2026

BYD Co Ltd Class A

002594 · SHE

Weak valuationQuality is weak on top of the rich price.

!Fair value ¥61.43 · Overvalued (−27%)
!Quality 32/100
!Expensive Growth (revenue 5y +38.4 %/yr)
!Thin margins · 3.5% net margin (TTM)
!Low debt · negative free cash flow
·0.42% dividend yield
!Trails peers (5/14)
!Narrow moat 39/100
!Weak on dividend: 8 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥133.41 ¥46.60 Fair Value ¥61.43 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.

How to read this chart

60‑month range ¥46.60 – ¥133.41 · fair‑value band ¥46.08 – ¥89.48 · the ¥84.30 price screens above the ¥61.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.

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Company profile

BYD Company Limited, together with its subsidiaries, engages in automobiles and batteries business in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. It operates in two segments, Mobile Handset Components, Assembly Service and Other Products; and Automobiles and Related Products and Other Products.

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BYD Company Limited, together with its subsidiaries, engages in automobiles and batteries business in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. It operates in two segments, Mobile Handset Components, Assembly Service and Other Products; and Automobiles and Related Products and Other Products. The Mobile Handset Components, Assembly Service and Other Products segment manufactures and sells mobile handset components, such as housings and electronic components, and provides assembly services. Its Automobiles and Related Products and Other Products segment is involved in the manufacturing and sale of automobiles, and auto-related molds and components; provision of automobile leasing and after sales services, automobile power batteries, lithium-ion batteries, photovoltaic, and iron battery products; and rail transport and related business. The company develops urban rail transportation business. BYD Company Limited was founded in 1994 and is headquartered in Shenzhen, China.

Stock analysis

BYD Co Ltd Class A (002594) currently trades at ¥84.30, while our model-based Fair Value estimate is ¥61.43, implying the stock looks roughly 37.2% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ¥119.31 per share, and 5 of the 16 models we run sit above the ¥84.30 price.

Bear case: the Asset-Based group reads lowest at ¥16.89, and 11 of the 16 models stay below the price. Evidence for this calculation is high.

Scenario range: ¥46.08 (bear) to ¥89.48 (bull), the price of ¥84.30 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

BYD Co Ltd Class A reported revenue of 794B CNY in FY2025 versus 216B CNY in FY2021, a compound +38.4%/yr. Reported net income was 32.6B CNY in FY2025, compounding +80.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 834B CNY (≈ $125B) · P/E ratio 47.7 · P/S ratio 1.96 · EPS (TTM) ¥1.95 · Dividend yield 0.4% · Net margin 4.1% · Return on equity 11.2% · Return on assets (EBIT) 4.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −14% fair-value upside, at −27%, 002594 screens richer than that median.

Fair Value models

Bear ¥46.08 Fair Value ¥61.43 Bull ¥89.48
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥1.99 per share) are deliberately not added. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ¥19.35 ¥22.58 ¥25.44 72
ROIC Compounder ¥19.35 ¥22.58 ¥25.83 71
Residual Income ¥25.18 ¥32.61 ¥84.16 67
All 16 models by family
Earnings-Based
Graham-Dodd ¥24.57 ¥171.37 ¥240.50 60
Lynch FV ¥64.08 ¥91.54 ¥119.00 58
PEG = 1.0 ¥64.08 ¥91.54 ¥119.00 55
EPV ¥19.35 ¥22.58 ¥25.44 72
Dividend Discount
Gordon GGM ¥15.46 ¥33.75 ¥56.79 63
DDM Multi-Stage ¥15.46 ¥27.65 ¥35.18 64
Multiples
P/E Multiple ¥59.63 ¥79.50 ¥99.38 61
P/S Multiple ¥46.08 ¥61.43 ¥76.79 56
P/B Multiple ¥46.08 ¥61.43 ¥76.79 53
EV/EBIT ¥34.71 ¥45.92 ¥57.13 65
EV/EBITDA ¥103.79 ¥138.03 ¥172.26 66
EV/Revenue ¥23.75 ¥33.46 ¥43.18 52
Asset-Based
NCAV (Graham) ¥12.60 ¥16.89 ¥25.21 52
Economic Profit
Residual Income ¥25.18 ¥32.61 ¥84.16 67
ROIC Compounder ¥19.35 ¥22.58 ¥25.83 71
Growth Earnings
Growth-Adj P/E ¥83.52 ¥119.31 ¥155.10 66

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Quality Score breakdown

Overall quality 32/100

Of which business quality 36 · Market factors (momentum, volatility) 40

Profitability 41
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 1
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 59
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.2%
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.3%
Revenue growth 5 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.4%
Revenue growth 23 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.0%
What shareholders gained per year (last 5 years) What the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+59.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+59.2%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.59% vs 26%, picking up
Profit margin 2020 to 2025 Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 3%

002594 screens 37% overvalued. Compare with Tesla, Inc →

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Peer GroupHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Auto Manufacturers · 113 stocks

Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −30% · Bottom 25%
Profitability
Return on equity (TTM) 11% · Above median
Return on assets 2% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 5% · Above median
Growth and dividend
Revenue growth −12% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.29× · Above median

Valuation Multiplesvs Auto Manufacturers median · lower = cheaper

P/E (TTM) 47.7× · Priciest 25%
P/B 3.66× · Priciest 25%
P/S (TTM) 1.06× · Pricier than median
EV/EBITDA 7.4× · Cheaper than median
PEG 0.85× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 45
FUTURE (revenue growth)0 · sector 27
PAST (return on equity)45 · sector 17
HEALTH (low debt)86 · sector 93
DIVIDEND (yield)8 · sector 51

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Tesla, Inc TSLA $356.58 $42.25 −88%
Toyota Motor Corporation TM $191.53 $251.77 +31%
BYD Company 81211 HK$68.15 HK$43.27 −37%
Hyundai Motor Company 005380 363,000 KRW 372,872 KRW +3%
Ferrari N.V RACE €363.35 €328.58 −10%
General Motors Company GM $85.37 $52.69 −38%
Ford Motor Company F $13.35 $11.51 −14%
Mercedes-Benz Group MBG €45.37 €106.16 +134%
Dr. Ing. h.c. F. Porsche AG P911 €45.27 €21.98 −51%
Maruti Suzuki India Limited MARUTI ₹12,338 ₹8,236 −33%

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Cite: Fair Value Calculator (2026). "BYD Co Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/002594

Frequently asked questions

Is BYD Co Ltd Class A (002594) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of ¥61.43 versus a price of ¥84.30, about −27% upside (overvalued).
What is the fair value of 002594?
Our model-based fair value for BYD Co Ltd Class A is ¥61.43 (as of Sep 17, 2026), built from audited fundamentals. The current price: ¥84.30.
What is the quality score of 002594?
BYD Co Ltd Class A has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for BYD Co Ltd Class A (002594)?
Our model-based price target is the fair value of ¥61.43 (as of Sep 17, 2026) from 16 valuation models. Cautious scenario ¥46.08, optimistic scenario ¥89.48. It is a calculation from audited fundamentals, not an analyst target.
What is the BYD Co Ltd Class A stock forecast for 2026?
Our models put fair value at ¥61.43, about −27% upside versus a price of ¥84.30 (overvalued). Cautious scenario ¥46.08, optimistic scenario ¥89.48. The calculation is refreshed regularly with new filings.
What is the revenue of BYD Co Ltd Class A (002594)?
BYD Co Ltd Class A reported trailing-twelve-month revenue of about 784B CNY (latest available figure, as of Sep 17, 2026).
Does BYD Co Ltd Class A pay a dividend?
BYD Co Ltd Class A currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 17, 2026).
What is the intrinsic value of BYD Co Ltd Class A (002594)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BYD Co Ltd Class A it is ¥61.43 per share (as of Sep 17, 2026), against a price of ¥84.30. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is BYD Co Ltd Class A stock overvalued or undervalued in 2026?
As of Sep 17, 2026, 002594 trades above its calculated fair value: price ¥84.30, fair value ¥61.43, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 002594?
No. The price is what the market pays today (¥84.30); the fair value is what the company's own numbers justify (¥61.43). For BYD Co Ltd Class A the two are ¥22.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is BYD Co Ltd Class A worth?
The market values BYD Co Ltd Class A at about 834B CNY (market capitalisation, as of Sep 17, 2026). Per share that is ¥84.30; our models calculate a fair value of ¥61.43 per share.
What do the bullish and bearish scenarios say about 002594?
Our models span a range for BYD Co Ltd Class A: cautious scenario ¥46.08, base ¥61.43, optimistic ¥89.48 per share (as of Sep 17, 2026, price ¥84.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 002594?
BYD Co Ltd Class A trades at a price-to-earnings ratio of 47.7 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥61.43 is built from several models across several years. Other multiples: PEG 0.8, P/B 3.7, P/S 1.1, EV/EBITDA 7.4.
What is the PEG ratio of 002594?
The PEG ratio of BYD Co Ltd Class A is 0.85 (P/E divided by earnings growth, as of Sep 17, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of BYD Co Ltd Class A (002594)?
Balance-sheet figures for BYD Co Ltd Class A (as of Sep 17, 2026): return on equity 11.2%, debt of 0.29 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 002594 from its 52-week high?
BYD Co Ltd Class A trades at ¥84.30, about 30% below its 52-week high of ¥120.55 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of ¥61.43 is for.
Which stocks are comparable to BYD Co Ltd Class A?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Hyundai Motor Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BYD Co Ltd Class A stock attractive at the current price?
The data as of Sep 17, 2026: price ¥84.30, calculated fair value ¥61.43 (−27%), Quality Score 32/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 002594 calculated?
We run BYD Co Ltd Class A through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥61.43, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. BYD Co Ltd Class A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BYD Co Ltd Class A (002594)?
The closing price on Sep 18, 2026 was ¥84.30. Our model-based fair value is ¥61.43, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BYD Co Ltd Class A right now?
Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (¥46.08 to ¥89.48) leaves room in how you read the outcome.
Where does the earnings growth of BYD Co Ltd Class A (002594) come from?
Earnings per share at BYD Co Ltd Class A grew +27.2 % a year from 2015 to 2025. Broken into its drivers: revenue per share +25.7 %, EBIT margin +0.5 %, tax rate +0.3 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of BYD Co Ltd Class A

How large is the market capitalisation of BYD Co Ltd Class A (002594)?
The market capitalisation of BYD Co Ltd Class A is 834B CNY (≈ $125B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BYD Co Ltd Class A (002594)?
The price-to-sales ratio of BYD Co Ltd Class A is 1.96 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BYD Co Ltd Class A (002594)?
Earnings per share at BYD Co Ltd Class A are ¥1.95 (price ÷ EPS = P/E 47.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BYD Co Ltd Class A (002594)?
The dividend yield of BYD Co Ltd Class A is 0.4% (payout 18.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of BYD Co Ltd Class A (002594)?
The net margin of BYD Co Ltd Class A is 4.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BYD Co Ltd Class A (002594)?
The return on equity (ROE) of BYD Co Ltd Class A is 11.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of BYD Co Ltd Class A (002594)?
On an EBIT basis the return on assets of BYD Co Ltd Class A is 4.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BYD Co Ltd Class A (002594)?
The operating margin of BYD Co Ltd Class A is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BYD Co Ltd Class A (002594)?
Revenue at BYD Co Ltd Class A is growing −11.8% versus a year earlier (3y avg +23.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at BYD Co Ltd Class A (002594)?
Earnings per share at BYD Co Ltd Class A are growing −56.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BYD Co Ltd Class A (002594) generate?
The free cash flow of BYD Co Ltd Class A is −97.3B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BYD Co Ltd Class A (002594) carry?
The net debt of BYD Co Ltd Class A is 89.9B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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