China Yuchai International Past Earnings Performance
Past criteria checks 5/6
China Yuchai International has been growing earnings at an average annual rate of 1.5%, while the Machinery industry saw earnings growing at 8.3% annually. Revenues have been growing at an average rate of 0.9% per year. China Yuchai International's return on equity is 6.3%, and it has net margins of 2.2%.
Key information
1.47%
Earnings growth rate
3.53%
EPS growth rate
| Machinery Industry Growth | 8.77% |
| Revenue growth rate | 0.88% |
| Return on equity | 6.29% |
| Net Margin | 2.18% |
| Last Earnings Update | 31 Dec 2025 |
Recent past performance updates
Recent updates
Seeking Alpha • May 29
China Yuchai: Encouraging Insights From Recent Events
Summary I stick with a 'Buy' rating for China Yuchai after evaluating the recent disclosures from management, its parent, and its peer. CYD's high-horsepower engines are well received by clients, judging by the robust pre-orders disclosed by management. Demand-supply dynamics in Yuchai's key Chinese data center backup power generator end market are favorable based on its peer Weichai's recent comments. The company's data center-related products are priced at a huge premium over that of non-DC solutions, according to its parent. Read the full article on Seeking Alpha
Narrative Update • May 10
CYD: Higher Post Earnings Estimates And Fair Value View Will Persist
Analysts have raised their price target on China Yuchai International to $45 from $28, citing higher estimates following the recent earnings report while continuing to view the stock as fairly valued. Analyst Commentary Recent research points to a more cautious stance on China Yuchai International, even as the official price target has been adjusted to US$45 from US$28.
Narrative Update • Apr 24
CYD: Higher Earnings Profile And Diesel Scale Will Support Future Upside
Analysts have lifted their price target on China Yuchai International to $45 from $28, citing updated earnings estimates while still viewing the shares as fairly valued overall. Analyst Commentary Bullish analysts are responding to the latest earnings report by lifting their expectations for China Yuchai International, which feeds directly into a higher price target while still framing the shares as fairly valued at current levels.Narrative Update • Apr 08
CYD: Higher Earnings Estimates And Fair Value View Will Support Shares
Analysts have raised their price target on China Yuchai International to $45 from $28, citing updated estimates following the recent earnings report, while still viewing the shares as fairly valued. Analyst Commentary Bearish analysts are treating the new US$45 price target as a reflection of updated earnings assumptions rather than a fresh endorsement of upside potential.Narrative Update • Mar 25
CYD: High Horsepower Share And Diesel Scale Will Drive Future Upside
Analysts have raised their price expectations for China Yuchai International, setting new targets of $45 and $60 that reflect updated earnings estimates and the company’s position in the high horsepower engine market. They now view the shares as fairly valued at these higher levels.Narrative Update • Mar 11
CYD: High Horsepower Leadership And Diesel Scale Will Support Future Upside
Analysts have lifted their price targets on China Yuchai, with one moving from $28 to $45 and another initiating at $60. These changes reflect updated earnings estimates and views on the company’s position in diesel and high horsepower engines.Narrative Update • Feb 24
CYD: Lower Future P/E And Execution Risks Will Pressure Shares
Analysts have raised their price target for China Yuchai International to $60, reflecting an updated fair value estimate of $29.07 and revised assumptions around revenue growth, profit margins and a lower future P/E multiple. Analyst Commentary UBS has initiated coverage on China Yuchai International with a Buy rating and a US$60 price target, anchored to a fair value estimate of US$29.07.
Narrative Update • Feb 10
CYD: High Horsepower Share And Diesel Scale Will Guide Balanced Outlook
Narrative Update Analysts have lifted their price target on China Yuchai International from about US$43 to roughly US$51, reflecting updated assumptions for fair value, revenue growth, profit margins, and future P/E following recent positive Street research. Analyst Commentary Recent Street research has focused on China Yuchai International's role in the diesel engine market and how that might feed into valuation and execution risk.Analysis Article • Feb 06
China Yuchai International Limited (NYSE:CYD) Stocks Shoot Up 26% But Its P/E Still Looks Reasonable
China Yuchai International Limited ( NYSE:CYD ) shareholders would be excited to see that the share price has had a...Narrative Update • Jan 26
CYD: High Horsepower Market Share Is Expected To Drive Future Upside
Analysts have raised their price target on China Yuchai International from about US$40 to roughly US$60, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. These revisions align with recent Street research that emphasizes the company's positions in the diesel and high horsepower engine markets.Narrative Update • Jan 12
CYD: High Horsepower Market Share May Shape Balanced Long Term Outlook
Analysts have lifted their price target on China Yuchai International from about US$34 to roughly US$43. They point to stronger modeled revenue growth, updated profit and discount rate assumptions, and recent Street research highlighting its position in high horsepower diesel engines.Narrative Update • Dec 27
CYD: Rising Discount Rate Will Likely Pressure Shares Despite Modest Profit Outlook
Analysts have modestly raised their price target on China Yuchai International, citing slightly higher expected revenue growth, a small improvement in profit margins, and a marginally lower future P E multiple, even as they apply a higher discount rate to future cash flows. Valuation Changes Fair Value Estimate is unchanged at $28.18 per share, reflecting no adjustment to the intrinsic value despite updated assumptions.Analysis Article • Dec 23
Market Participants Recognise China Yuchai International Limited's (NYSE:CYD) Earnings
With a price-to-earnings (or "P/E") ratio of 21.5x China Yuchai International Limited ( NYSE:CYD ) may be sending...Narrative Update • Dec 13
CYD: Index Inclusion Will Drive Future Upside Potential
Analysts have modestly raised their price target on China Yuchai International to approximately $39.64 per share. This reflects slightly stronger expectations for revenue growth and profit margins, despite a small uptick in the assumed discount rate and a marginally lower future price to earnings multiple.Analysis Article • Sep 11
China Yuchai International Limited's (NYSE:CYD) P/E Is Still On The Mark Following 32% Share Price Bounce
China Yuchai International Limited ( NYSE:CYD ) shares have continued their recent momentum with a 32% gain in the last...Narrative Update • Aug 29
Diesel Engine Demand Will Fall As Electrification Expands
Analysts have sharply raised their price target for China Yuchai International to $33.91, citing stronger-than-expected sales, robust export growth, and sustained demand from data center applications driving higher financial estimates for 2025. Analyst Commentary Significant increase in unit sales and revenue reported in the first half of 2025.Narrative Update • Aug 15
Diesel Engine Demand Will Fall As Electrification Expands
Driven by strong first-half sales momentum, upbeat demand outlook—especially from data center applications—and upgraded financial forecasts, analysts have raised China Yuchai International's consensus price target from $17.49 to $20.70. Analyst Commentary Significant increase in unit sales and revenue reported in the first half of the year.Analysis Article • Jul 12
The Market Lifts China Yuchai International Limited (NYSE:CYD) Shares 29% But It Can Do More
Despite an already strong run, China Yuchai International Limited ( NYSE:CYD ) shares have been powering on, with a...Analysis Article • May 22
Further Upside For China Yuchai International Limited (NYSE:CYD) Shares Could Introduce Price Risks After 27% Bounce
Those holding China Yuchai International Limited ( NYSE:CYD ) shares would be relieved that the share price has...Analysis Article • Mar 28
Market Cool On China Yuchai International Limited's (NYSE:CYD) Earnings Pushing Shares 25% Lower
The China Yuchai International Limited ( NYSE:CYD ) share price has softened a substantial 25% over the previous 30...Seeking Alpha • Mar 04
China Yuchai: Impressive Results, But Lower Margin Of Safety (Rating Downgrade)
Summary China Yuchai International Limited shows impressive revenue growth, engine sales, and investments in engine efficiency, supported by financing from the Nanning Municipality government. Despite strong financial performance and a significant stock price increase, I closed my position due to limited upside potential based on my new financial model. The company’s R&D efforts and stock repurchase program highlight its commitment to innovation and shareholder value, though future buybacks may be limited. Potential risks include dependency on state subsidies, currency exchange fluctuations, and geopolitical tensions, which could impact future free cash flow and stock performance. Read the full article on Seeking Alpha
New Narrative • Mar 02
Partnership With Kim Long Motor Will Expand ASEAN Market Presence
Strong engine sales in trucks, buses, off-road, marine, and genset sectors indicate resilience and potential revenue growth amidst a declining market.Seeking Alpha • Feb 26
China Yuchai's Valuation Looks Tempting, But Weak Cash Flow Says Otherwise
Summary China Yuchai International Limited is facing liquidity risks, intense competition, and industry shifts despite strong revenue and profit growth in 2024. CYD's cash flow generation is weak, with a high P/OCF ratio and shrinking forward operating cash flow, raising concerns about financial stability. Rising costs and shrinking margins are squeezing profits, making CYD's current valuation appear unsustainable and overpriced. Given these challenges, I recommend selling CYD shares, as the stock seems overdue for a correction. Read the full article on Seeking AlphaAnalysis Article • Jan 22
Even With A 36% Surge, Cautious Investors Are Not Rewarding China Yuchai International Limited's (NYSE:CYD) Performance Completely
China Yuchai International Limited ( NYSE:CYD ) shareholders are no doubt pleased to see that the share price has...Analysis Article • Dec 27
When Should You Buy China Yuchai International Limited (NYSE:CYD)?
China Yuchai International Limited ( NYSE:CYD ), is not the largest company out there, but it received a lot of...Seeking Alpha • Dec 06
China Yuchai International: Significant R&D Focus And Rising Exposure To ESG Trend, Yet Undervalued
Summary China Yuchai International is investing heavily in R&D, launching innovations like the 350hp IE-Power Hybrid system, and collaborating with the government of Nanning Municipality. CYD's exposure to the rapidly growing ESG investing market in the Asia Pacific, expected to grow at 21.5% CAGR, enhances its investment appeal. Despite strong financials, including positive free cash flow and EBITDA, the Company is trading significantly undervalued, presenting a compelling investment opportunity. Risks include dependence on a few key customers in China and potential impacts from government policy changes and controlling shareholders. Read the full article on Seeking AlphaAnalysis Article • Nov 14
China Yuchai International Limited (NYSE:CYD) Might Not Be As Mispriced As It Looks After Plunging 26%
China Yuchai International Limited ( NYSE:CYD ) shareholders won't be pleased to see that the share price has had a...Seeking Alpha • Aug 27
China Yuchai: Staying Positive On Policy Tailwinds And Significant Repurchases
Summary China's new government policy offering subsidies for heavy-duty truck replacements could boost the industry's sales volume in the second half of 2024. CYD's potential FY 2024 buyback yield might be as high as 10%, judging by the company's actual share repurchases in recent months. I remain bullish on China Yuchai, taking into consideration tailwinds for the heavy-duty truck sector in China and the company's shareholder capital return prospects. Read the full article on Seeking AlphaAnalysis Article • Aug 13
Here's What's Concerning About China Yuchai International's (NYSE:CYD) Returns On Capital
When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...Seeking Alpha • Jun 15
China Yuchai: Turning Bullish On Buyback Plan And Improved Outlook (Rating Upgrade)
Summary China Yuchai's potential shareholder yield has been boosted by a new $40 million share repurchase program. CYD's outlook has become better, taking into account its peer's industry sales projection and the latest monthly LNG (Liquefied Natural Gas) HDT (Heavy-Duty Truck) sales numbers. I raised my rating for CYD to a Buy after assessing its buybacks and growth prospects. Read the full article on Seeking AlphaAnalysis Article • May 03
China Yuchai International's (NYSE:CYD) Promising Earnings May Rest On Soft Foundations
Despite posting some strong earnings, the market for China Yuchai International Limited's ( NYSE:CYD ) stock hasn't...Seeking Alpha • Mar 30
China Yuchai: A Mixed View (Rating Downgrade)
Summary A review of the management commentary provided by China Yuchai and its peer suggests that there is a risk that CYD's 2024 financial performance doesn't meet the market's expectations. On the flip side, CYD's valuations are undemanding and there is the chance that policy tailwinds for the Chinese heavy-duty truck market might materialize. I have a mixed view of China Yuchai after considering multiple factors, and this translates into a Hold rating for CYD. Read the full article on Seeking AlphaSeeking Alpha • Jan 15
China Yuchai: Shares Are Mispriced
Summary Heavy duty truck sales in Mainland China are expected to grow by a mid-teens percentage this year based on third-party projections. The analysts are too bearish on CYD's prospects, forecasting a +9.9% top-line expansion in FY 2024 which is way below that of the industry's expected growth rate. I think that CYD stock is undervalued, as it currently trades at low-single-digit EV/EBITDA and mid-single-digit EV/EBIT multiples. Read the full article on Seeking AlphaSeeking Alpha • Oct 26
China Yuchai: Multiple Reasons To Stay Bullish
Summary China Yuchai's key peer, Weichai Power, recently announced a positive earnings alert. Heavy duty truck sales volume in China jumped by +66% YoY in September 2023. CYD's new powertrain is expected to allow the company to win more orders associated with the agricultural end-market. My Buy rating for CYD remains intact, as I think that there are many reasons to be bullish about the company's prospects. Read the full article on Seeking AlphaAnalysis Article • Oct 13
Is It Too Late To Consider Buying China Yuchai International Limited (NYSE:CYD)?
China Yuchai International Limited ( NYSE:CYD ), is not the largest company out there, but it received a lot of...Seeking Alpha • Aug 18
China Yuchai: Eyes On Potential Buybacks And Key Metrics
Summary Potential buybacks by China Yuchai International Limited are likely to be accretive considering the company's current valuations, and they could act as a potential catalyst for the stock. The sell-side's consensus forecasts and recent industry numbers suggest that China Yuchai's 2H 2023 financial performance is likely to be strong. I retain my Buy rating for China Yuchai International Limited, following an analysis of key industry and corporate metrics and the potential for share repurchases. Read the full article on Seeking AlphaAnalysis Article • Aug 13
Be Wary Of China Yuchai International (NYSE:CYD) And Its Returns On Capital
If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...Seeking Alpha • Jun 08
China Yuchai: Industry Data And Peer's Results Offer Positive Read-Throughs
Summary Recent heavy-duty truck sales in China and its listed peer's Q1 2023 results indicate that China Yuchai's financial performance for the current year should be reasonably decent. China Yuchai's current valuations remain attractive, even though the stock has done very well in the last two months or more. I reiterate my Buy rating for China Yuchai, after reviewing industry and peer metrics and assessing its current valuations. Read the full article on Seeking AlphaAnalysis Article • Jun 03
China Yuchai International (NYSE:CYD) Takes On Some Risk With Its Use Of Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How China Yuchai International makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 24,662 | 537 | 2,071 | 1,281 |
| 30 Sep 25 | 23,648 | 493 | 1,726 | 1,159 |
| 30 Jun 25 | 22,633 | 449 | 2,019 | 1,037 |
| 31 Mar 25 | 20,883 | 386 | 1,916 | 995 |
| 31 Dec 24 | 19,134 | 323 | 1,813 | 954 |
| 30 Sep 24 | 19,158 | 335 | 1,871 | 909 |
| 30 Jun 24 | 19,182 | 347 | 2,122 | 864 |
| 31 Mar 24 | 18,614 | 316 | 1,997 | 870 |
| 31 Dec 23 | 18,046 | 286 | 1,500 | 877 |
| 30 Sep 23 | 17,340 | 294 | 1,271 | 855 |
| 30 Jun 23 | 16,633 | 303 | 1,757 | 834 |
| 31 Mar 23 | 16,332 | 261 | 1,684 | 835 |
| 31 Dec 22 | 16,031 | 219 | 1,154 | 836 |
| 30 Sep 22 | 16,618 | 166 | 1,339 | 889 |
| 30 Jun 22 | 17,205 | 113 | 1,586 | 942 |
| 31 Mar 22 | 19,236 | 193 | 1,671 | 895 |
| 31 Dec 21 | 21,266 | 273 | 1,562 | 849 |
| 30 Sep 21 | 22,259 | 385 | 1,839 | 789 |
| 30 Jun 21 | 23,251 | 497 | 1,923 | 729 |
| 31 Mar 21 | 23,486 | 615 | 1,887 | 708 |
| 31 Dec 20 | 20,581 | 549 | 1,760 | 626 |
| 30 Sep 20 | 20,953 | 637 | 1,922 | 648 |
| 30 Jun 20 | 18,950 | 566 | 1,778 | 523 |
| 31 Mar 20 | 17,262 | 468 | 1,763 | 496 |
| 31 Dec 19 | 18,016 | 605 | 1,806 | 492 |
| 30 Sep 19 | 16,865 | 587 | 1,629 | 372 |
| 30 Jun 19 | 16,747 | 665 | 1,608 | 354 |
| 31 Mar 19 | 16,089 | 650 | 1,571 | 400 |
| 31 Dec 18 | 16,263 | 695 | 1,555 | 448 |
| 30 Sep 18 | 15,517 | 852 | 1,469 | 571 |
| 30 Jun 18 | 16,114 | 881 | 1,481 | 647 |
| 31 Mar 18 | 16,007 | 948 | 1,687 | 604 |
| 31 Dec 17 | 16,198 | 889 | 1,505 | 608 |
| 30 Sep 17 | 16,147 | 766 | 1,587 | 565 |
| 30 Jun 17 | 15,247 | 685 | 1,559 | 586 |
| 31 Mar 17 | 14,837 | 675 | 1,488 | 613 |
| 01 Jan 17 | 13,643 | 525 | 1,487 | 588 |
| 30 Sep 16 | 12,855 | 349 | 1,415 | 523 |
| 30 Jun 16 | 12,975 | 272 | 1,451 | 494 |
| 31 Mar 16 | 13,434 | 325 | 1,481 | 493 |
| 31 Dec 15 | 13,733 | 341 | 1,463 | 507 |
| 30 Sep 15 | 14,728 | 523 | 1,465 | 517 |
| 30 Jun 15 | 15,475 | 667 | 1,502 | 520 |
Quality Earnings: CYD has high quality earnings.
Growing Profit Margin: CYD's current net profit margins (2.2%) are higher than last year (1.7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: CYD's earnings have grown by 1.5% per year over the past 5 years.
Accelerating Growth: CYD's earnings growth over the past year (66.3%) exceeds its 5-year average (1.5% per year).
Earnings vs Industry: CYD earnings growth over the past year (66.3%) exceeded the Machinery industry 2.1%.
Return on Equity
High ROE: CYD's Return on Equity (6.3%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/02 11:55 |
| End of Day Share Price | 2026/06/02 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
China Yuchai International Limited is covered by 6 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Fuyin Liang | BofA Global Research |
| Natalie Ong | CGS International |
| William Gregozeski | Greenridge Global LLC |