Profitability Analysis

BYD achieved a gross profit of 151.1 billion RMB, demonstrating its ability to maintain strong margins despite significant operating costs. Here’s a breakdown of its expenses:

• Operating Costs: Totaling 626 billion RMB (~$86.2B), these include manufacturing expenses and supply chain costs.

• Operating Expenses: Amounting to 111.9 billion RMB (~$15.4B), broken down as follows:

  • Selling: 24.1 billion RMB

  • Administration: 18.6 billion RMB

  • Finance: 1.2 billion RMB

  • Surcharges: 14.8 billion RMB

  • Research & Development (R&D): A substantial investment of 53.2 billion RMB, showcasing BYD's focus on innovation.

Despite these costs, BYD recorded an operating profit of 50.5 billion RMB and a net profit of 41.6 billion RMB, marking a significant 34% increase from FY 2023.

Comparison with Tesla

The infographic highlights key metrics comparing BYD and Tesla for FY 2024:

MetricBYDTeslaRevenue¥107.1B¥97.7BTotal BEVs Sold1,764,9921,789,226Q4 BEVs Sold595,413495,570Net Profit¥5.5B¥7.15B

While Tesla leads in net profit margins, BYD surpasses Tesla in Q4 BEV sales and maintains competitive annual EV sales figures.

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Key Takeaways

1. Diversified Revenue Streams: BYD’s balanced approach between automotive sales and industrial products underpins its financial success.

2. Focus on Innovation: The company’s significant R&D investment positions it as a leader in EV technology.

3. Competitive Edge: BYD’s growth trajectory makes it a formidable competitor to Tesla in the global EV market.

Conclusion

BYD's FY 2024 results highlight its ability to scale operations while maintaining profitability across diverse business segments. As the EV industry continues to expand globally, tools like Quantera's Lattice empower businesses and investors alike to navigate complex data landscapes effectively, ensuring informed decisions that drive success in an increasingly competitive market.