BYD's third-quarter automobile revenue grew 14% year on year, driven by a recovery in vehicle sales volume. With export growth offsetting weaker domestic sales, vehicle margin remained stable and net profit increased 28%.
BYD’s leadership in in-house battery and plug-in technology will differentiate its products from competitors and ensure the success of its future models, including both electric vehicles and PHEVs.
Rising competition will place heavy pricing pressure on automakers. As a mass-market brand, BYD will need to offer aggressive promotions and discounts to consumers, which will weigh on its vehicle margin outlook.
Metric | 002594 | TSLA | NIO |
|---|---|---|---|
Price/Earnings (Normalized) | 26.41 | 155.21 | — |
Price/Book Value | 3.16 | 15.21 | 13.40 |
Price/Sales | 0.98 | 11.75 | 0.48 |
Price/Cash Flow | 10.81 | 83.58 | — |
Metric | 002594 | TSLA | NIO |
|---|---|---|---|
Quick Ratio | 0.28 | 1.23 | 0.68 |
Current Ratio | 0.84 | 1.74 | 1.02 |
Interest Coverage | 10.61 | 8.08 | −4.11 |
Metric | 002594 | TSLA | NIO |
|---|---|---|---|
Return on Assets (Normalized) | 3.27% | 5.47% | −3.39% |
Return on Equity (Normalized) | 12.82% | 9.35% | −135.01% |
Return on Invested Capital (Normalized) | 7.95% | 6.77% | −9.12% |
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