BYD Co (MEX:1211N) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:1211N BYD Co Ltd MEX:1211N
70 GF Score
Price MXN178.00
GF Value MXN223.97
Valuation Modestly Undervalued
! 6 Warning Signs
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What is BYD Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


BYD Co  (MEX:1211N) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


BYD Co Cyclically Adjusted PB Ratio Related Terms


BYD Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for BYD Co's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

BYD Co Cyclically Adjusted PB Ratio Chart

BYD Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 8.18 6.17

BYD Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.67 8.00 6.54 6.72 4.63

MEX:1211N vs TSLA, GM, F: Cyclically Adjusted PB Ratio Comparison

For the Auto Manufacturers subindustry, BYD Co's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


BYD Co Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, BYD Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where BYD Co's Cyclically Adjusted PB Ratio falls into.


MEX:1211N
70GF Score
BYD Co Ltd MEX:1211N
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BYD Co Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

BYD Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, BYD Co's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=71.411/121.3631*121.3631
=71.411

Current CPI (Jun. 2026) = 121.3631.

BYD Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.023 102.565 21.326
201612 18.695 103.225 21.980
201703 17.542 103.335 20.603
201706 17.410 103.664 20.382
201709 18.364 103.994 21.431
201712 20.580 104.984 23.791
201803 19.941 105.973 22.837
201806 20.108 106.193 22.981
201809 18.578 106.852 21.101
201812 19.906 107.622 22.448
201903 20.543 108.172 23.048
201906 19.766 109.601 21.887
201909 19.627 110.260 21.603
201912 19.280 110.700 21.137
202003 23.586 110.920 25.807
202006 24.991 110.590 27.425
202009 25.768 107.512 29.088
202012 23.587 109.711 26.092
202103 32.185 111.579 35.007
202106 32.053 111.360 34.932
202109 33.773 109.051 37.586
202112 38.328 112.349 41.403
202203 37.932 113.558 40.539
202206 36.733 113.448 39.296
202209 36.616 113.778 39.057
202212 39.037 114.548 41.360
202303 38.006 115.427 39.961
202306 35.320 115.647 37.066
202309 38.504 116.087 40.254
202312 41.192 117.296 42.620
202403 40.857 117.735 42.116
202406 44.640 117.296 46.188
202409 54.076 118.615 55.329
202412 60.033 118.945 61.254
202503 76.226 119.384 77.489
202506 64.590 119.055 65.842
202509 65.836 119.934 66.620
202512 67.752 120.704 68.122
202603 75.172 121.473 75.104
202606 71.411 121.363 71.411

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is BYD Co (MEX:1211N) Overvalued in 2026?

Based on GuruFocus' analysis, BYD Co stock appears to be undervalued. The current stock price of MXN178.00 is trading 20.5% below its estimated GF Value™ of MXN223.97. GuruFocus considers BYD Co to be Modestly Undervalued.

Key valuation signals for MEX:1211N:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: MXN223.97 vs. price of MXN178.00 (20.5% below fair value)
  • GF Score™: 70/100 with 6 warning signs

No single metric tells the full story. See the MEX:1211N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BYD Co Business Description

Address Unit 505-510, 1 Science Park E Avenue, 5th Floor, Core Building 1E, Pak Shek Kok, Tai Po, HKG
Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China's passenger vehicle market. The company sold about 4.6 million passenger NEVs in 2025, accounting for 30% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide.
70GF Score

Get the complete analysis for MEX:1211N

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN178.00
Price
MXN223.97
GF Value