DB:4BY

Stock Analysis Report

BYD Electronic (International)

Executive Summary

BYD Electronic (International) Company Limited, an investment holding company, manufactures, assembles, and sells mobile handset components and modules in the People’s Republic of China, the Asia Pacific, the United States, and internationally.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has BYD Electronic (International)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 4BY has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.7%

4BY

-13.8%

DE Communications

-5.7%

DE Market


1 Year Return

39.4%

4BY

-12.1%

DE Communications

6.1%

DE Market

Return vs Industry: 4BY exceeded the German Communications industry which returned -12.1% over the past year.

Return vs Market: 4BY exceeded the German Market which returned 6.1% over the past year.


Shareholder returns

4BYIndustryMarket
7 Day-0.7%-13.8%-5.7%
30 Day-10.9%-13.6%-5.7%
90 Day9.0%-17.7%-3.6%
1 Year42.4%39.4%-11.6%-12.1%9.3%6.1%
3 Year92.2%82.7%-18.7%-18.9%8.9%-0.7%
5 Year102.5%90.1%72.4%72.1%13.6%-2.0%

Price Volatility Vs. Market

How volatile is BYD Electronic (International)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BYD Electronic (International) undervalued compared to its fair value and its price relative to the market?

33.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 4BY (€1.83) is trading below our estimate of fair value (€2.73)

Significantly Below Fair Value: 4BY is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 4BY is poor value based on its PE Ratio (19.6x) compared to the Communications industry average (18.5x).

PE vs Market: 4BY is good value based on its PE Ratio (19.6x) compared to the German market (20.2x).


Price to Earnings Growth Ratio

PEG Ratio: 4BY is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 4BY is good value based on its PB Ratio (2x) compared to the DE Communications industry average (3x).


Next Steps

Future Growth

How is BYD Electronic (International) forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

24.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4BY's forecast earnings growth (24% per year) is above the savings rate (-0.4%).

Earnings vs Market: 4BY's earnings (24% per year) are forecast to grow faster than the German market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 4BY's revenue (23.8% per year) is forecast to grow faster than the German market (5.1% per year).

High Growth Revenue: 4BY's revenue (23.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 4BY's Return on Equity is forecast to be low in 3 years time (12%).


Next Steps

Past Performance

How has BYD Electronic (International) performed over the past 5 years?

23.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 4BY has high quality earnings.

Growing Profit Margin: 4BY's current net profit margins (3.6%) are lower than last year (5.9%).


Past Earnings Growth Analysis

Earnings Trend: 4BY's earnings have grown significantly by 23.1% per year over the past 5 years.

Accelerating Growth: 4BY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 4BY had negative earnings growth (-32%) over the past year, making it difficult to compare to the Communications industry average (31.6%).


Return on Equity

High ROE: 4BY's Return on Equity (10.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is BYD Electronic (International)'s financial position?


Financial Position Analysis

Short Term Liabilities: 4BY's short term assets (CN¥16.0B) exceed its short term liabilities (CN¥9.3B).

Long Term Liabilities: 4BY's short term assets (CN¥16.0B) exceed its long term liabilities (CN¥455.1M).


Debt to Equity History and Analysis

Debt Level: 4BY is debt free.

Reducing Debt: 4BY has not had any debt for past 5 years.

Debt Coverage: 4BY has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 4BY has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 4BY has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 4BY's debt is covered by short term assets.


Next Steps

Dividend

What is BYD Electronic (International)'s current dividend yield, its reliability and sustainability?

1.38%

Current Dividend Yield


Dividend Yield vs Market

company1.4%marketbottom25%1.4%markettop25%3.8%industryaverage2.0%forecastin3Years1.6%

Current dividend yield vs market & industry

Notable Dividend: 4BY's dividend (1.38%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.43%).

High Dividend: 4BY's dividend (1.38%) is low compared to the top 25% of dividend payers in the German market (3.8%).


Stability and Growth of Payments

Stable Dividend: 4BY's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4BY's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27%), 4BY's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 4BY's dividends in 3 years are forecast to be well covered by earnings (23.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Nian-Qiang Wang (55yo)

4.8yrs

Tenure

CN¥9,614,000

Compensation

Mr. Nian-Qiang Wang has been the Chief Executive Officer and Executive Director of BYD Electronic International Company Limited since April 27, 2015. Mr. Wang served as Vice President and General Manager o ...


CEO Compensation Analysis

Compensation vs Market: Nian-Qiang's total compensation ($USD1.37M) is below average for companies of similar size in the German market ($USD2.52M).

Compensation vs Earnings: Nian-Qiang's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Nian-Qiang Wang
CEO & Executive Director4.8yrsCN¥9.61m0.38% CN¥15.8m
Ya-Lin Zhou
Chief Financial Officer4.1yrsno datano data
Xiang-Rong Jiang
Executive Director0.7yrsno datano data
Hon-wan Cheung
Joint Company Secretary0yrsno datano data
Qian Li
Joint Company Secretary12.3yrsno datano data

4.8yrs

Average Tenure

46yo

Average Age

Experienced Management: 4BY's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nian-Qiang Wang
CEO & Executive Director4.8yrsCN¥9.61m0.38% CN¥15.8m
Xiang-Rong Jiang
Executive Director0.7yrsno datano data
Chuan-Fu Wang
Non-Executive Chairman12.2yrsno datano data
Kwok Mo Chung
Independent Non-Executive Director6.7yrsCN¥113.00kno data
Antony Francis Mampilly
Independent Non-Executive Director12.3yrsCN¥200.00kno data
Bo Wang
Non-Executive Director3.1yrsCN¥3.20mno data
Jing-Jie Qian
Independent Non-Executive Director4.8yrsCN¥200.00kno data

4.8yrs

Average Tenure

50yo

Average Age

Experienced Board: 4BY's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

BYD Electronic (International) Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BYD Electronic (International) Company Limited
  • Ticker: 4BY
  • Exchange: DB
  • Founded: 2002
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: HK$35.420b
  • Listing Market Cap: HK$4.179b
  • Shares outstanding: 2.25b
  • Website: https://www.byd-electronics.com

Number of Employees


Location

  • BYD Electronic (International) Company Limited
  • No. 3001, Bao He Road
  • Baolong
  • Shenzhen
  • Guangdong Province
  • 518116
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
285SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2007
4BYDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2007
BYDI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2007
285SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2007
285SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2007

Biography

BYD Electronic (International) Company Limited, an investment holding company, manufactures, assembles, and sells mobile handset components and modules in the People’s Republic of China, the Asia Pacific, the United States, and internationally. The company also provides high level assembly services; and manufactures and sells batteries, chargers, and iron phosphate batteries used in electric buses, trucks, cars, and forklifts, as well as its components and spare parts. In addition, it builds and maintains monorail projects. The company was founded in 2002 and is headquartered in Shenzhen, the People’s Republic of China. BYD Electronic (International) Company Limited is a subsidiary of Golden Link Worldwide Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 21:33
End of Day Share Price2020/02/25 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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 here.