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HDFC Bank Limited HDFCBANK.NS

IN · National Stock Exchange of India · XNSE · stock · Financial Services · website

HDFC Bank Limited statistics & valuation

Market cap₹12.41T
P / E17.6×
P / S5.0×
P / B1.5×
P / FCF11.6×
Net margin28.2%
FCF margin42.7%
Net debt₹2.99T
Enterprise value USD$163.4B
Graham number -8.2%₹738.10

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 (₹738.10); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
41.10% 31.30% 28.40% 28.20% 2023202420252026
Gross margin (%)
2023202420252026
Operating margin (%)
2023202420252026
Return on equity (%)
17.00% 9.00% 8.80% 8.60% 2023202420252026
Shares outstanding
15.43B 15.43B 15.43B 15.43B 2023202420252026
Net debt (₹)
₹787.87B ₹4.67T ₹4.10T ₹2.99T 2023202420252026
Share buybacks (₹)
₹2.30B 2023202420252026
Return on assets (%)
1.90% 1.40% 1.40% 1.30% 2023202420252026
Free cash flow margin (%)
36.00% 48.70% 47.60% 42.70% 2023202420252026
Debt / equity (×)
1.08× 1.16× 0.95× 0.81× 2023202420252026
EPS (₹)
₹44.34 ₹44.16 ₹44.82 ₹45.75 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

HDFC Bank Limited trades at about 17.6× earnings — near its 10-year norm (10-year range 16.9×–21.5×, median 19×).

16.9× 21.5×

Shaded band = 10-year range (16.9×–21.5×); dot = today's 17.6×.

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
Net margin28.2%28.4%31.3%41.1%
FCF margin42.7%47.6%48.7%36.0%
Return on assets1.3%1.4%1.4%1.9%
Return on equity8.6%8.8%9.0%17.0%
Debt / equity0.63×0.76×0.96×0.67×

Computed from company filings · IN · as of 2025-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.