Stocktoria

Bajaj Auto Limited BAJAJ-AUTO.NS

IN · National Stock Exchange of India · XNSE · stock · Consumer Cyclical · website

Bajaj Auto Limited statistics & valuation

Market cap₹3.21T
P / E29.9×
P / S5.3×
P / B8.3×
P / FCF171.4×
Dividend yield1.82%
Net margin17.8%
Return on equity27.7%
FCF margin3.1%
Net debt₹196.5B
Enterprise value USD$35.8B
Earnings yield EBIT/EV3.8%
Return on capital22.2%
Graham number -70.1%₹3,497.40

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹3,497.40); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
17.10% 17.60% 14.90% 17.80% 2023202420252026
Gross margin (%)
24.70% 26.00% 27.40% 28.80% 2023202420252026
Operating margin (%)
17.10% 18.90% 20.40% 21.30% 2023202420252026
Return on equity (%)
20.60% 26.60% 20.80% 27.70% 2023202420252026
Shares outstanding
274.6M 274.6M 274.6M 274.6M 2023202420252026
Net debt (₹)
-₹2.42B ₹12.25B ₹69.05B ₹196.50B 2023202420252026
Share buybacks (₹)
₹30.94B ₹40.17B ₹9.32B ₹0 2023202420252026
Return on assets (%)
17.20% 19.60% 13.50% 13.90% 2023202420252026
Free cash flow margin (%)
11.80% 13.30% -4.60% 3.10% 2023202420252026
Debt / equity (×)
0.00× 0.06× 0.26× 0.58× 2023202420252026
EPS (₹)
₹212.50 ₹272.40 ₹262.00 ₹384.40 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Bajaj Auto Limited trades at about 30.4× earnings — near its 10-year norm (10-year range 20.9×–32.7×, median 30.6×).

20.9× 32.7×

Shaded band = 10-year range (20.9×–32.7×); dot = today's 30.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin28.8%27.4%26.0%24.7%
Operating margin21.3%20.4%18.9%17.1%
Net margin17.8%14.9%17.6%17.1%
FCF margin3.1%-4.6%13.3%11.8%
Return on assets13.9%13.5%19.6%17.2%
Return on equity27.7%20.8%26.6%20.6%
Debt / equity0.40×0.17×0.02×0.00×
Current ratio1.761.681.301.83

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.