A quick comparison of $Tesla Motors(TSLA)$ and $BYD Co., Ltd.(BYDDF)$ 3Q24 results.
BYD already beat Tesla on revenues, gross profit, and gross profit margins.✅
Tesla still has a slight edge in terms of pure EVs sold. But don't expect BYD to unseat Tesla as No. 1 pure EV company soon, as hybrids are growing faster in China.
From a valuation perspective, BYD is grossly undervalued relative to its MUCH LARGER peer.
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I wonder if we'll see $Berkshire Hathaway(BRK.B)$ 's ownership in BYD rise above 5% again. Seems like they left quite a bit of money on the table with this one.
Citi Raises BYD COMPANY's TP to $500 as GPM, FCF Beat
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