Company Valuation: Tata Motors Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,067,374 1,544,487 1,503,057 3,635,068 2,481,413 1,401,495 - -
Change - 44.7% -2.68% 141.85% -31.74% -43.52% - -
Enterprise Value (EV) 1 1,747,205 2,534,566 2,389,506 4,162,002 2,698,063 1,750,172 1,663,185 1,589,053
Change - 45.06% -5.72% 74.18% -35.17% -35.13% -4.97% -4.46%
P/E ratio -8.16x -14.5x 66.9x 12.1x 8.56x -544x 10.3x 7.65x
PBR 2.09x 3.23x 3.55x 4.48x 2.02x 1.19x 1.07x 0.95x
PEG - 0.8x -1x 0x -2.24x 5x -0x 0.2x
Capitalization / Revenue 0.43x 0.55x 0.43x 0.83x 0.56x 0.41x 0.35x 0.32x
EV / Revenue 0.7x 0.91x 0.69x 0.95x 0.61x 0.51x 0.41x 0.36x
EV / EBITDA 5.72x 10.2x 7.15x 6.99x 4.89x 7.92x 3.95x 3.12x
EV / EBIT 24.9x -6,865x 34.4x 12.9x 8.44x 52.1x 8.93x 6.76x
EV / FCF 19.9x -286x 13.8x 11.4x 10.8x -5.03x 15.8x 11.6x
FCF Yield 5.03% -0.35% 7.24% 8.77% 9.29% -19.9% 6.32% 8.66%
Dividend per Share 2 - - 2 3 6 3.547 4.78 5.276
Rate of return - - 0.48% 0.3% 0.89% 0.93% 1.26% 1.39%
EPS 2 -36.99 -29.88 6.29 81.88 78.75 -0.7 36.94 49.78
Distribution rate - - 31.8% 3.66% 7.62% -507% 12.9% 10.6%
Net sales 1 2,497,948 2,784,536 3,459,670 4,379,278 4,396,950 3,455,323 4,049,346 4,424,581
EBITDA 1 305,573 247,988 334,063 595,622 552,160 221,054 420,597 508,819
EBIT 1 70,086 -369.2 69,554 322,920 319,600 33,577 186,233 235,038
Net income 1 -134,514 -114,415 24,143 313,991 278,300 833,578 138,121 183,156
Net Debt 1 679,831 990,078 886,449 526,934 216,650 348,677 261,690 187,558
Reference price 2 301.85 433.50 420.60 993.00 674.05 380.60 380.60 380.60
Nbr of stocks (in thousands) 3,828,811 3,829,165 3,829,847 3,832,242 3,681,349 3,682,331 - -
Announcement Date 18/05/21 12/05/22 12/05/23 10/05/24 13/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-543.71x0.51x7.92x0.93% 15.47B
13.27x1.55x13.17x2.56% 322B
11.04x1.3x13.93x2.36% 80.45B
6.75x0.33x2.73x0.9% 73.29B
11.08x0.17x1.86x3.96% 65.15B
8.24x0.07x0.47x4.4% 64.95B
9.54x0.06x0.53x4.24% 61.27B
54.1x0.3x4.37x4.27% 56.33B
27.42x2.58x17.7x0.82% 43.55B
14.19x0.57x9.13x4.46% 40.77B
Average -38.81x 0.74x 7.18x 2.89% 82.3B
Weighted average by Cap. 4.74x 0.98x 8.82x 2.86%

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

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