China Yuchai International Limited
CYD Consumer Cyclical Auto Manufacturers
China Yuchai International Limited’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 33.6% from fiscal 2024. Dividend growth for three consecutive years, revenue growth for three.
Follow CYD
China Yuchai International Limited (CYD) Altman Z-score
China Yuchai International Limited's Altman Z-score for fiscal 2025 is 1.78, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.78 | 0.19 |
| FY2024 | 1.60 | (0.01) |
| FY2023 | 1.61 | 0.08 |
| FY2022 | 1.53 | (0.22) |
| FY2021 | 1.75 | (0.02) |
| FY2020 | 1.77 | (0.04) |
| FY2019 | 1.81 | (0.12) |
| FY2018 | 1.94 | (0.28) |
| FY2017 | 2.21 | 0.28 |
| FY2016 | 1.94 | 0.21 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.22 | — | 0.27 | |
| Retained earnings / total assets | 0.24 | — | 0.34 | |
| EBIT / total assets | 0.03 | — | 0.11 | |
| Market value of equity / total liabilities | 0.48 | — | 0.29 | |
| Sales / total assets | 0.77 | — | 0.77 | |
| Altman Z-score | Distress zone | 1.78 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.19 | ||
Z and Z″ put China Yuchai International Limited in different zones: distress zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CYD China Yuchai International Limited | 1.8× |
| LVWR LiveWire Group, Inc. compare | 1.7× |
| NIU Niu Technologies compare | 1.5× |
| XPEV XPeng Inc. Sponsored ADR compare | 1.3× |
| NIO NIO Inc. compare | −0.7× |
| LOT Lotus Technology Inc. Sponsored ADR compare | −3.5× |
| LCID Lucid Group, Inc. compare | −3.5× |
| VFS VinFast Auto Ltd. compare | −3.8× |
| PSNY Polestar Automotive Holding UK PLC compare | −5.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets