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China Yuchai International Limited

CYD

China Yuchai International Limited • NYSE
$35.76 ▲ 1.25% (+0.44)
Market Cap $1.34 B
52w High $42.60
52w Low $8.61
Dividend Yield 0.53%
P/E 20.91
Volume 62.11K
Outstanding Shares 37.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $6.903B ▲ $608.874M ▲ $182.895M ▲ 2.649% ▲ $4.87 ▲ $476.95M ▲
Q4-2024 $4.414B $463.709M $41.363M 0.937% $1.09 $234.788M
Q3-2024 $4.414B ▼ $463.709M ▼ $41.363M ▼ 0.937% ▼ $1.09 ▼ $234.788M ▼
Q2-2024 $5.153B $647.054M $120.165M 2.332% $2.94 $373.195M
Q1-2024 $5.153B $647.054M $120.165M 2.332% $2.94 $373.195M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $6.313B $27.048B $14.749B $9.165B
Q3-2024 $6.313B ▲ $27.048B ▲ $14.749B ▲ $9.165B ▼
Q2-2024 $0 ▼ $0 $0 ▲ $9.478B ▼
Q1-2024 $6.011B $0 ▼ $-12.176B ▼ $12.176B ▲
Q4-2023 $6.011B $25.758B $13.582B $9.227B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $182.895M ▲ $0 $0 $0 $0 $0
Q4-2024 $41.363M $0 $0 $0 $0 $0
Q3-2024 $41.363M ▼ $0 $0 $0 $0 $0
Q2-2024 $120.165M $0 $0 $0 $0 $0
Q1-2024 $120.165M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has been on a gentle recovery path after a sharp dip a few years ago, but sales are still a bit below the peak period before the downturn. Profitability is positive but thinner than it used to be: gross profit is decent, yet operating and net income are well below earlier highs, suggesting pricing pressure, higher costs, or a less favorable product mix. Earnings have inched up for three years in a row, which shows some stabilization, but the business is not back to its former profit strength and remains sensitive to industry cycles in trucks, buses, and off‑road equipment.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively strong. Total assets have been gradually building back up, cash balances have been rising, and debt is modest compared with the cash on hand, implying a net cash position. Shareholders’ equity has been stable, which points to a solid capital base and no aggressive leverage. Overall, the company appears financially resilient and has room to absorb industry swings or invest for growth without overstretching its finances.

Cash Flow

Cash Flow Cash generation has been uneven, with some years of strong inflows and a notable weak patch when operating cash flow turned negative. More recently, the company is again producing positive operating cash and free cash flow, although the latest year is softer than the prior one. Capital spending is steady rather than aggressive, which supports ongoing operations and innovation without overly straining cash. The pattern suggests a cyclical industrial business that can generate healthy cash in good years but can see volatility when demand or working capital moves against it.

Competitive Edge

Competitive Edge China Yuchai holds a meaningful position in China’s commercial engine market, supported by a long operating history, strong brand recognition, and deep relationships with major vehicle makers. Its broad engine range across trucks, buses, off‑road, marine, and power generation gives it diversification and scale advantages. A wide domestic service and parts network is a practical moat in commercial vehicles, where uptime matters. The main competitive challenges are intense price competition, the shift toward electrification and alternative powertrains, and reliance on the Chinese market, which can be both a strength and a concentration risk.

Innovation and R&D

Innovation and R&D The company is actively investing in cleaner and next‑generation powertrains, not just maintaining legacy diesel products. It has been an early mover in meeting stricter emission standards and has taken a leading role in hydrogen internal combustion engines, along with natural gas and other new‑energy systems. R&D centers and ongoing product development in hydrogen, gas, hybrid, and fuel cell technologies position it to participate in the energy transition within commercial vehicles and off‑road equipment. The key uncertainty is how quickly these newer technologies gain broad adoption and whether Yuchai can convert its technical progress into sustained, profitable volume.

Summary

Overall, China Yuchai combines a conservative balance sheet and improving, but still moderate, profitability with a solid competitive position in China’s engine market. The business remains cyclical and its earnings are materially lower than earlier in the decade, reflecting industry headwinds and margin pressure. At the same time, the company’s strong cash and low debt provide financial flexibility, and its push into hydrogen and other cleaner technologies offers potential long‑term growth avenues. Future performance will likely hinge on how well it manages the transition from traditional engines to new energy powertrains, and on the health of China’s commercial vehicle and industrial markets.

NEWS

October 28, 2025 · 6:00 AM UTC

China Yuchai Announces Board Change

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October 24, 2025 · 6:00 AM UTC

Yuchai Launches New Generation High-Horsepower YC16VTF Generator Engine

Read more