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Tesla vs Byd
Trends beleggen ziet Byd als het betere alternatief voor Tesla.
Terwijl de resultaten van tesla tegenvielen ging de omzet bij Byd in H1 72 procent hoger en verdrievoudigde de nettowinst. Byd heeft intussen Tesla ingehaald in aantal verkochte EV’s(in Q3 produceerde Byd 440.000 EV’s tegenover 430.000 voor Tesla) en de internationale expansie van Byd moet nog goed beginnen.
Volgens trends noteert Tesla aan 54 keer de verwachte winst voor 2024, terwijl Byd 18 keer de verwachte winst voor 2024 noteert.
Ik zou hier nog aan toevoegen dat de marges bij Byd sterk stijgend zijn door de stijgende verkoop buiten China (de meeste wagens worden in Europa voor het dubbel van de prijs verkocht tegenover de prijs in China (bron datanews knack). (Zie ook Reuters :’Citi analyst Jeff Chung said the previous consensus likely failed to capture elements such as BYD’s much higher return on investment from exports and how it had further achieved cost reductions.’
Byd is niet alleen EV’s maar ook batterijen producent en producent van elektrische bussen die wereldwijd een sterke groei voor zich heeft. En door de sterke verticale integratie is Byd kostenefficienter dan de concurrentie.
Daarenboven heeft Byd ook EV’s in het lagere prijssegment , waar Tesla volledig afwezig is.
Voor mij is Byd ook de betere keuze.
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4 Replies
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Heb ik ook gelezen. Maar in het artikel staat niet hoe je kan beleggen in BYD. Volgens mij enkel via Hong Kong of via OTC.
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Ik heb via keytrade in de VS belegd, ticker BYDDF.
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Is Tesla te duur of Byd te goedkoop? 18x de winst voor byd en 54x voor tesla volgend jaar , bij gelijkaardige prestaties voor beide bedrijven, maar meer groei voor byd. Aan de huidige koers (27 dollar) ben ik geneigd byd bij te kopen. Of misschien is byd wel correct gewaardeerd en tesla (veel) te duur?
EV jolt: Bernstein says BYD should be much closer in valuation to Tesla
Nov. 27, 2023 1:25 PM ETBYD Company Limited (BYDDF), BYDDYTSLABy: Clark Schultz,
Bernstein reiterated an Outperform rating on BYD Company Limited (BYDDF) on Monday and made the point that the valuation gap between he two stocks should not be so wide.
“Tesla and BYD are currently the two leading EV manufacturers, and are now comparable in size across volumes, revenues, and profit dollars, but BYD is growing significantly faster,” noted analyst Toni Sacconaghi. His forecast for 2024 is for Tesla (TSLA) to generate before interest and taxes of $8.7B on $114B of revenue, compared to an estimate for BYD (BYDDF) to churn up earnings of $7.1B on $112B of revenue However, Tesla (TSLA) was a market cap of $750B vs. BYD Company’s (BYDDF) current valuation of $90B.
“We believe that the investment thesis that Tesla has a structural cost and scale advantage appears increasingly less credible, and arguably more applicable to BYD… We believe that in the long term, valuations matter, and based on fundamental value the valuations are more likely to converge than diverge.”
Sacconaghi also said the argument that Tesla (TSLA) is much more than an auto company does not hold water as BYD’s battery energy storage business is currently larger in scale than Tesla’s (TSLA). BYD is noted to have some of the same “side bets” for investors as Tesla (TSLA) in batteries, semiconductor chips, and handset components and assembly.
Last week, BYD (BYDDF) announced hat it achieved a historic milestone after the company’s 6 millionth new energy vehicle rolled off the production line at the Zhengzhou factory. The Chinese electric vehicle said it has been actively expanding its global presence, introducing new energy buses and taxis for public transit electrification. “With a decade of dedicated efforts, BYD’s electric public transport solutions now operate in over 400 cities across more than 70 countries,” highlighted the company.
Bernstein reiterated an Outperform rating on BYD Company Limited (OTCPK:BYDDF) on Monday, and made the point that the valuation gap between he two stocks should not be so wide.
“Tesla and BYD are currently the two leading EV manufacturers, and are now comparable in size across volumes, revenues, and profit dollars, but BYD is growing significantly faster,” noted analyst Toni Sacconaghi. His forecast for 2024 is for Tesla (TSLA) to generate before interest and taxes of $8.7B on $114B of revenue, compared to an estimate for BYD (OTCPK:BYDDF) to churn up earnings of $7.1B on $112B of revenue However, Tesla (TSLA) has a market cap of $749B vs. BYD Company’s (OTCPK:BYDDF) current valuation of $87B.
“We believe that the investment thesis that Tesla has a structural cost and scale advantage appears increasingly less credible, and arguably more applicable to BYD… We believe that in the long term, valuations matter, and based on fundamental value the valuations are more likely to converge than diverge.”
Sacconaghi also said the argument that Tesla (TSLA) is much more than an auto company does not completely hold water as BYD’s (OTCPK:BYDDF) battery energy storage business is currently larger in scale than Tesla’s (TSLA). BYD was also noted to have some of the same “side bets” for investors as Tesla (TSLA) in batteries, semiconductor chips, and handset components and assembly.
Last week, BYD (OTCPK:BYDDF) announced that it achieved a historic milestone after the company’s 6 millionth new energy vehicle rolled off the production line at the Zhengzhou factory. The Chinese electric vehicle said it has been actively expanding its global presence, introducing new energy buses and taxis for public transit electrification. “With a decade of dedicated efforts, BYD’s electric public transport solutions now operate in over 400 cities across more than 70 countries,” highlighted the company.
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Vandaag in de WSJ is dan weer een ander geluid te horen:
BYD Co. is likely to face stiffer competition from second-tier electric-vehicle makers, UOB Kay Hian says. Analysts Ken Lee and Bella Lu note that its market share is falling, retail sales are peaking and inventories are piling up. There is also mounting pressure to cut prices, they say in a research note. “BYD’s sales are peaking at a time when its new capacity is coming onstream.” The brokerage cuts its 2023, 2024 and 2025 net profit forecasts for the Chinese EV maker by 2%, 37% and 51%, respectively, citing lower sales volume, selling price and gross margin assumptions. It downgrades the stock to sell from buy and slashes its target price to HK$140.00 from HK$630.00. Shares are 1.6% lower at HK$208.40. ([email protected])
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