Company Valuation: Bajaj Finance Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 4,395,117 3,388,270 4,470,426 5,550,210 4,978,905 6,567,943 - -
Change - -22.91% 31.94% 24.15% -10.29% 31.92% - -
Enterprise Value (EV) 1 6,010,634 5,512,130 7,297,644 9,027,261 9,172,477 10,890,423 11,989,187 13,358,047
Change - -8.29% 32.39% 23.7% 1.61% 18.73% 10.09% 11.42%
P/E 62.7x 29.6x 30.7x 33.4x 26.3x 26.3x 21.3x 17.4x
PBR 10x 6.24x 5.84x 5.74x 4.37x 4.84x 4.06x 3.38x
PEG - 0.5x 1.3x 2.4x 1.9x 0.8x 0.9x 0.8x
Capitalization / Revenue 20.1x 11.7x 12.3x 12.3x 9.34x 10.2x 8.45x 6.91x
EV / Revenue 27.5x 19.1x 20.1x 20.1x 17.2x 17x 15.4x 14x
EV / EBITDA - - - - - - - -
EV / EBIT 42x 29.4x 30.5x 30.1x 25.8x 25.3x 22.7x 20.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 3 3.6 4.4 5.4 6.895 8.26 10
Rate of return 0.28% 0.53% 0.5% 0.49% 0.67% 0.65% 0.78% 0.95%
EPS 2 11.58 18.96 23.6 26.82 30.51 40.13 49.54 60.61
Distribution rate 17.3% 15.8% 15.3% 16.4% 17.7% 17.2% 16.7% 16.5%
Net sales 1 218,922 288,458 362,578 449,540 533,240 641,065 777,620 950,964
EBITDA - - - - - - - -
EBIT 1 143,072 187,175 239,403 300,280 355,480 429,627 527,641 645,713
Net income 1 70,282 115,077 144,512 166,378 190,174 249,599 308,093 380,921
Net Debt 1 1,615,516 2,123,860 2,827,218 3,477,051 4,193,572 4,322,480 5,421,244 6,790,104
Reference price 2 726.00 561.68 724.52 894.56 801.55 1,056.30 1,056.30 1,056.30
Nbr of stocks (in thousands) 6,053,922 6,032,438 6,170,147 6,204,402 6,211,596 6,217,876 - -
Announcement Date 26/04/22 26/04/23 25/04/24 29/04/25 29/04/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.61x4.73x16.01x-.--% 41.14B
24.98x5.13x25.45x0.08% 30.78B
17.97x12.28x23.38x1.15% 25.32B
7.89x1.82x - 1.73% 24.76B
28.92x4.29x12.58x-.--% 22.17B
23.45x19.03x46.24x0.15% 16.02B
29.48x - - - 15.51B
12.56x - - 1.32% 12.46B
Average 21.73x 7.88x 24.73x 0.63% 23.52B
Weighted average by Cap. 22.46x 6.92x 22.55x 0.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield