Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 2.2x · ROE 4.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.3B | $375M | $342M | $289M | $610M | $668M | $545M | $508M | $978M | $553M |
| Enterprise Value | $442M | $-4421974569 | $-3365295220 | $-3079504530 | $-1792572307 | $-1962207313 | $-2962999541 | $-3122206994 | $-3035486872 | $-2785587344 | $-2190805882 |
| P/E Ratio → | 16.70 | 2.55 | 1.16 | 1.20 | 1.32 | 2.24 | 1.22 | 0.90 | 0.73 | 1.10 | 1.05 |
| P/S Ratio | 0.36 | 0.06 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.06 | 0.04 |
| P/B Ratio | 0.68 | 0.10 | 0.03 | 0.03 | 0.02 | 0.05 | 0.06 | 0.05 | 0.05 | 0.09 | 0.05 |
| P/FCF | 4.22 | 0.64 | 1.60 | 0.35 | — | — | 0.80 | 0.65 | 1.93 | 0.87 | 0.29 |
| P/OCF | 3.21 | 0.49 | 0.48 | 0.28 | — | 1.21 | 0.47 | 0.34 | 0.76 | 0.69 | 0.24 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.18 | -0.18 | -0.17 | -0.11 | -0.09 | -0.14 | -0.17 | -0.19 | -0.17 | -0.16 |
| EV / EBITDA | 2.21 | -3.30 | -2.67 | -2.42 | -1.57 | -1.59 | -1.77 | -1.94 | -1.78 | -1.30 | -1.53 |
| EV / EBIT | 4.73 | -3.70 | -6.63 | -4.62 | -3.69 | -3.48 | -2.65 | -2.69 | -2.35 | -1.73 | -2.26 |
| EV / FCF | — | -2.14 | -14.37 | -3.12 | — | — | -3.57 | -3.74 | -11.55 | -2.46 | -1.14 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.5% | 16.5% | 14.7% | 16.2% | 13.7% | 13.0% | 15.5% | 17.3% | 19.2% | 20.8% | 21.8% |
| Operating Margin | 2.6% | 2.6% | 3.1% | 3.4% | 3.2% | 3.1% | 5.7% | 6.4% | 7.9% | 10.6% | 7.1% |
| Net Profit Margin | 2.2% | 2.2% | 1.7% | 1.6% | 1.4% | 1.3% | 2.7% | 3.4% | 4.3% | 5.9% | 3.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.1% | 4.1% | 2.6% | 2.4% | 1.9% | 2.3% | 4.7% | 5.3% | 6.3% | 9.1% | 5.3% |
| ROA | 1.8% | 1.8% | 1.2% | 1.1% | 0.9% | 1.1% | 2.2% | 2.7% | 3.3% | 4.8% | 2.8% |
| ROIC | 6.0% | 6.0% | 5.0% | 4.8% | 4.1% | 5.8% | 11.0% | 11.1% | 13.0% | 17.7% | 9.2% |
| ROCE | 4.5% | 4.5% | 4.3% | 4.6% | 4.1% | 5.2% | 9.1% | 9.3% | 10.8% | 15.4% | 9.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.21 | 0.21 | 0.20 | 0.19 | 0.19 | 0.18 | 0.18 | 0.15 | 0.09 |
| Debt / EBITDA | 1.57 | 1.57 | 2.04 | 2.03 | 2.10 | 1.81 | 1.35 | 1.29 | 1.18 | 0.76 | 0.64 |
| Net Debt / Equity | — | -0.45 | -0.30 | -0.28 | -0.18 | -0.22 | -0.31 | -0.32 | -0.32 | -0.34 | -0.27 |
| Net Debt / EBITDA | -4.29 | -4.29 | -2.97 | -2.68 | -1.82 | -2.08 | -2.17 | -2.28 | -2.08 | -1.75 | -1.92 |
| Debt / FCF | — | -2.78 | -15.97 | -3.46 | — | — | -4.37 | -4.40 | -13.48 | -3.33 | -1.43 |
| Interest Coverage | 19.90 | 19.90 | 6.86 | 17.31 | 5.34 | 5.04 | 7.60 | 8.80 | 11.40 | 16.03 | 12.19 |
Net cash position: cash ($7.9B) exceeds total debt ($2.1B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.39 | 1.39 | 1.55 | 1.59 | 1.52 | 1.43 | 1.48 | 1.55 | 1.72 | 1.71 | 1.70 |
| Quick Ratio | 1.08 | 1.08 | 1.20 | 1.20 | 1.08 | 1.01 | 1.13 | 1.30 | 1.45 | 1.43 | 1.49 |
| Cash Ratio | 0.43 | 0.43 | 0.48 | 0.50 | 0.43 | 0.41 | 0.47 | 0.55 | 0.63 | 0.63 | 0.51 |
| Asset Turnover | — | 0.75 | 0.71 | 0.70 | 0.66 | 0.85 | 0.78 | 0.76 | 0.75 | 0.77 | 0.74 |
| Inventory Turnover | 3.59 | 3.59 | 3.49 | 3.24 | 2.74 | 3.55 | 3.89 | 5.28 | 5.22 | 4.98 | 6.41 |
| Days Sales Outstanding | — | 174.00 | 176.70 | 169.51 | 154.85 | 117.73 | 143.76 | 158.53 | 166.77 | 160.81 | 200.48 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 10.7% | 27.1% | 23.4% | 37.9% | 73.6% | 36.8% | 43.8% | 100.0% | 24.1% | 21.4% |
| Payout Ratio | 27.3% | 27.3% | 31.5% | 28.1% | 50.2% | 164.6% | 44.8% | 39.5% | 85.9% | 24.7% | 22.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 39.2% | 86.1% | 83.4% | 75.6% | 44.7% | 82.2% | 111.1% | 136.8% | 90.8% | 95.0% |
| FCF Yield | 23.7% | 155.2% | 62.5% | 288.6% | — | — | 124.4% | 153.1% | 51.7% | 115.6% | 348.3% |
| Buyback Yield | 0.0% | 0.0% | 76.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.6% | 10.7% | 100.0% | 23.4% | 37.9% | 73.6% | 36.8% | 43.8% | 100.0% | 24.1% | 21.4% |
| Shares Outstanding | — | $38M | $39M | $41M | $41M | $41M | $41M | $41M | $41M | $41M | $40M |
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CYD stock.
China Yuchai International Limited's current P/E ratio is 16.7x. The historical average is 1.3x. This places it at the 100th percentile of its historical range.
China Yuchai International Limited's current EV/EBITDA is 2.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.4x.
China Yuchai International Limited's return on equity (ROE) is 4.1%. The historical average is 6.1%.
Based on historical data, China Yuchai International Limited is trading at a P/E of 16.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
China Yuchai International Limited's current dividend yield is 1.64% with a payout ratio of 27.3%.
China Yuchai International Limited has 16.5% gross margin and 2.6% operating margin.
China Yuchai International Limited's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Severe data opacity limits insight
Extreme Discount to Book and Peers
CYD trades at a 0.77x P/B and 3.12x EV/EBITDA, a severe discount to global industrial peers and suggesting the market is pricing in deep structural obsolescence risk for its core diesel business.
The valuation multiple discount is extreme when viewed against global industrial machinery peers and even Chinese EV makers like Li Auto. This implies the market is assigning near-zero value to CYD's future earnings power and is likely deeply discounting the $7.85B cash pile due to perceived inaccessibility. The current valuation requires either a catalyst for capital return or a sustained profitability inflection to close the gap.
Margin Expansion Faces a Low Ceiling
Despite a sharp recovery, operating margin remains capped at 5.7% in 2026Q2, suggesting limited pricing power in a competitive OEM market and a cost structure vulnerable to under-utilization.
The recent gross margin expansion to 17.1% appears driven by volume and product mix, but operating margin remains constrained below historical levels. This structural ceiling implies high fixed costs from manufacturing footprint and R&D for emission standards are difficult to leverage away. For sustained profitability, investors must see evidence of a permanent shift toward higher-margin marine and new energy powertrains.
ROIC Inflection Driven by Volume, Not Efficiency
ROIC has surged to 11.7% in 2026Q2 from a trough of 0.7%, a dramatic improvement driven almost entirely by margin expansion and asset turnover gains from rapid revenue growth, not structural efficiency gains.
The recovery in return on capital is impressive but appears cyclical rather than structural, as asset turnover improved from 0.16 to 0.48 alongside revenue growth. This suggests the returns are largely a function of demand recovery in the Chinese commercial vehicle market. Without a permanent reduction in the asset base or sustained higher-margin product mix, these elevated returns may normalize as the cycle turns.
Working Capital Glut Eases with Volume
The cash conversion cycle has compressed dramatically to 46 days in 2026Q2 from 187 days in 2024Q4, indicating that the recent revenue surge has unlocked significant working capital efficiency and reduced tied-up cash.
The improvement is driven primarily by much faster inventory and receivable turns, with days sales outstanding falling from 189 to 80 days. This suggests stronger end-market demand and possibly improved collection discipline. However, the scale of the prior inefficiency warrants investigation into whether the prior working capital bloat was due to channel stuffing or genuinely weak demand.
The Most Misapplied Metric: Price-to-Cash
The P/FCF ratio of 4.81 is likely the most misapplied metric, as it is calculated on inconsistent and sparse cash flow data that obscures true cash generation quality and the accessibility of the reported cash pile.
Free cash flow data is only reported for one of the last ten quarters, making any trend analysis impossible. Furthermore, the massive cash balance is likely held at the Chinese subsidiary and subject to capital controls, rendering a simple price-to-cash metric meaningless for the Singapore-listed parent. Analysts should instead focus on operating cash flow trends and dividends paid as a more reliable proxy for accessible cash flow.