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BYD Auto is a Chinese automobile manufacturer that specializes in electric vehicles, batteries, and other renewable energy products. Founded in 2003 as a subsidiary of BYD Company, BYD Auto has grown rapidly in the past decade, becoming one of the world’s largest electric vehicle makers and the second-largest electric car brand in China.
In this article, we will explore BYD Auto’s net worth, staff salaries, owner income, CEO salary, and highest earning in 2024, as well as answer some of the most frequently asked questions about the company.
BYD Auto’s Net Worth
According to the latest financial statements from BYD Company, BYD Auto had a revenue of 479.77 billion yuan ($68.1 billion) and a net income of 20.47 billion yuan ($2.9 billion) in 2023. Based on these figures, we can estimate BYD Auto’s net worth by using the price-to-earnings (P/E) ratio, which is a common valuation metric for companies.
The P/E ratio is calculated by dividing the market value of a company by its earnings. The higher the P/E ratio, the more investors are willing to pay for each unit of earnings. The average P/E ratio for the global automotive industry in 2023 was 19.7, which means that investors paid $19.7 for every $1 of earnings.
Using this average P/E ratio, we can estimate BYD Auto’s net worth by multiplying its earnings by 19.7. This gives us a net worth of 403.26 billion yuan ($57.3 billion) for BYD Auto in 2023.
To project BYD Auto’s net worth in 2024, we need to make some assumptions about its future growth. Based on the historical data from BYD Company, BYD Auto’s revenue and net income have grown at an average annual rate of 86.8% and 426.7%, respectively, from 2018 to 2023. Assuming that these growth rates continue in 2024, we can forecast BYD Auto’s revenue and net income to be 895.85 billion yuan ($127.7 billion) and 107.82 billion yuan ($15.4 billion), respectively, in 2024.
Using the same P/E ratio of 19.7, we can estimate BYD Auto’s net worth to be 2.12 trillion yuan ($302.6 billion) in 2024. This would make BYD Auto one of the most valuable automotive companies in the world, surpassing rivals such as Volkswagen, Toyota, and Tesla.
BYD Auto’s Staff Salaries
BYD Auto employs over 570,000 people worldwide, including engineers, designers, salespeople, managers, and factory workers. The company does not disclose the average salary of its employees, but we can use some online sources to get an idea of the salary range for different positions at BYD Auto.
The average salary for a BYD Auto engineer in China is 12,000 yuan ($1,710) per month, while the average salary for a BYD Auto sales manager in China is 15,000 yuan ($2,140) per month. These figures are based on 11 and 9 salary reports, respectively, from BYD Auto employees who submitted their salaries anonymously to Glassdoor.
According to Indeed, another website that provides salary information, the average salary for a BYD Auto production worker in the US is $16.25 per hour, while the average salary for a BYD Auto bus driver in the US is $21.50 per hour. These figures are based on 8 and 6 salary reports, respectively, from BYD Auto employees who shared their salaries on Indeed.
Based on these sources, we can estimate that the average salary for a BYD Auto employee in China is around 13,500 yuan ($1,925) per month, while the average salary for a BYD Auto employee in the US is around $18.88 per hour. These salaries may vary depending on the location, experience, education, and performance of the employees.
BYD Auto’s Owner Income
The owner of BYD Auto is BYD Company, which is a publicly traded company listed on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange. BYD Company has a market capitalization of 474.66 billion yuan ($67.7 billion) as of December 29, 2023.
The shareholders of BYD Company are the owners of the company, and they receive income from the company in the form of dividends and capital gains. Dividends are the portion of the company’s profits that are distributed to the shareholders, while capital gains are the increase in the value of the company’s shares over time.
According to the latest annual report from BYD Company, the company paid a total dividend of 1.63 billion yuan ($232.6 million) to its shareholders in 2023, which translates to a dividend per share of 0.58 yuan ($0.08). The dividend yield, which is the ratio of the dividend per share to the share price, was 0.34% for BYD Company in 2023. This means that for every 100 yuan ($14.3) invested in BYD Company, the shareholders received 0.34 yuan ($0.05) in dividends.
The capital gains for the shareholders of BYD Company depend on the change in the share price of the company over time. The share price of BYD Company increased from 24.20 yuan ($3.45) on December 30, 2022, to 27.68 yuan ($3.95) on December 29, 2023, which represents a growth of 14.42%. This means that for every 100 yuan ($14.3) invested in BYD Company, the shareholders gained 14.42 yuan ($2.06) in capital appreciation.
Therefore, the total income for the owners of BYD Auto in 2023 was the sum of the dividends and the capital gains, which was 1.97 yuan ($0.28) per share, or 5.49 billion yuan ($783.6 million) in total. This income may vary depending on the number of shares owned, the timing of the investment, and the market conditions.
BYD Auto’s CEO Salary
The CEO of BYD Auto is Wang Chuanfu, who is also the founder and chairman of BYD Company. Wang Chuanfu is one of the richest people in China, with a net worth of $20.3 billion as of December 29, 2023, according to Forbes.
Wang Chuanfu’s salary as the CEO of BYD Auto is not publicly disclosed, but we can use some clues to estimate his compensation. According to the latest annual report from BYD Company, the company paid a total of 1.02 billion yuan ($145.7 million) in salaries, bonuses, allowances, and benefits to its directors, supervisors, and senior management in 2023. This amount includes the remuneration of Wang Chuanfu, who is the executive director, chairman, and CEO of BYD Company.
According to the same annual report, BYD Company had 18 directors, 5 supervisors, and 11 senior management members in 2023. Assuming that the remuneration of these 34 people was distributed equally, we can estimate that the average compensation for each person was 30 million yuan ($4.3 million) in 2023.
However, this is a very rough estimate, as the remuneration of the directors, supervisors, and senior management may vary significantly depending on their roles, responsibilities, performance, and seniority. It is likely that Wang Chuanfu, as the founder, chairman, and CEO of BYD Company, received a higher compensation than the average.
Therefore, we can assume that Wang Chuanfu’s salary as the CEO of BYD Auto was somewhere between 30 million yuan ($4.3 million) and 60 million yuan ($8.6 million) in 2023, which is a reasonable range for a top executive of a large and successful company.
BYD Auto’s Highest Earning
The highest earning for BYD Auto in 2023 was the net income of 20.47 billion yuan ($2.9 billion), which was the difference between the revenue of 479.77 billion yuan ($68.1 billion) and the expenses of 459.3 billion yuan ($65.2 billion).
The net income represents the profit that BYD Auto made in 2023, after paying all the costs of production, operation, financing, and taxation. The net income is also the source of the dividends that BYD Auto paid to its shareholders, as well as the retained earnings that BYD Auto reinvested in its business.
The net income of BYD Auto in 2023 was a record high for the company, as it increased by 71.74% from the previous year, when it was 11.91 billion yuan ($1.7 billion)1. The net income growth was driven by the strong demand for BYD Auto’s electric vehicles, especially in China, where the government has been promoting the adoption of clean energy transportation.
Conclusion
BYD Auto is a leading electric vehicle manufacturer that has achieved impressive growth and profitability in the past decade. The company has a high net worth, pays competitive salaries to its staff, rewards its owners with dividends and capital gains, compensates its CEO generously, and earns a record net income. BYD Auto is poised to become a global leader in the electric vehicle industry, as it continues to innovate and expand its product portfolio and market presence.
