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BYD Company Limited recently reported its earnings for the nine months ended September 30, 2025, revealing sales and revenue of CNY 566.27 billion, up from CNY 502.25 billion a year ago, while net income decreased to CNY 23.33 billion compared to CNY 25.24 billion in the same period last year.
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This mixed performance, higher revenue but lower profitability, stands out as investors weigh the implications for BYD’s future outlook and growth plans.
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We’ll examine how the rise in revenue but decline in net income factors into BYD’s evolving investment narrative.
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To be a shareholder in BYD, you need to have confidence in its ability to harness rapid revenue growth, continued innovation, and ambitious global expansion, despite the margin pressures reflected in its latest results. The news of amendments to BYD’s Articles of Association, which the board says will not affect shareholder rights or arrangements, appears neutral and unlikely to impact short-term drivers such as growing sales of new energy vehicles or ongoing product launches in Europe and Asia. Core catalysts still hinge on the pace of international expansion and execution on high-profile partnerships, while the decline in net income and profit margin compression remain top of mind as near-term risks. With the share price recently pulling back, risk perceptions may adjust, but these bylaw changes themselves don’t look material enough to overshadow fundamental business challenges or opportunities. On the other hand, margin pressures are a crucial factor investors should keep top of mind.
Despite retreating, BYD’s shares might still be trading 27% above their fair value. Discover the potential downside here.
BYD’s fair value estimates from 26 Simply Wall St Community members range from HK$121.89 to an outlier at HK$478.66, reflecting very diverse outlooks. While analyst targets currently suggest potential price upside, recent margin compression raises questions about how fast earnings might rebound. Take a closer look at how these differing views can influence your own stance on BYD’s future.
Explore 26 other fair value estimates on BYD – why the stock might be worth over 4x more than the current price!
Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.
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A great starting point for your BYD research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
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Our free BYD research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate BYD’s overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include 1211.HK.
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