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BYD announced their 3Q financials this week.
To summarize, almost everything is up, quarter on quarter and year on year: sales, revenue (now more than Tesla), net profit, earnings per share, shareholder equity … all up by double digits. Gross margin is also up for Automotive, Electronics, and overall (continuing to be higher than Tesla).
But BYD isn’t just sitting on piles of cash. Digging in the financials a little further, R&D expenditures are up 33.61%, outpacing revenue and earnings. And one of the few metrics not on the rise is net cashflow, as BYD is increasing spending on expansion. Not squirreling away cash right now indicates rare optimism, especially when automakers like Ford and Volkswagen are sending out warnings.
Perhaps the most noteworthy aspect of the 3Q report, beyond the continued growth, is how stable and normal it is. No huge surprises or financial trickery. In a world where unwelcome surprises seem to happen more and more often, it is a bit refreshing.
And while BYD’s expected financial report might not grab much in the way of headlines, the continued investment in R&D and growth will likely lead to some clean technology products that deserve attention. And for a website like CleanTechnica, isn’t that what really matters anyway?
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