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 43,95,117 33,88,270 44,70,426 55,50,210 49,78,905 64,51,668 - -
Change - -22.91% 31.94% 24.15% -10.29% 29.58% - -
Enterprise Value (EV) 1 60,10,634 55,12,130 72,97,644 90,27,261 91,72,477 1,07,74,149 1,18,72,913 1,32,41,773
Change - -8.29% 32.39% 23.7% 1.61% 17.46% 10.2% 11.53%
P/E 62.7x 29.6x 30.7x 33.4x 26.3x 25.9x 21x 17.2x
PBR 10x 6.24x 5.84x 5.74x 4.37x 4.75x 3.99x 3.32x
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 10.1x 8.3x 6.78x
EV / Revenue 27.5x 19.1x 20.1x 20.1x 17.2x 16.8x 15.3x 13.9x
EV / EBITDA - - - - - - - -
EV / EBIT 42x 29.4x 30.5x 30.1x 25.8x 25.1x 22.5x 20.5x
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% 0.66% 0.8% 0.96%
EPS 2 11.58 18.96 23.6 26.82 30.51 40.13 49.46 60.25
Distribution rate 17.3% 15.8% 15.3% 16.4% 17.7% 17.2% 16.7% 16.6%
Net sales 1 2,18,922 2,88,458 3,62,578 4,49,540 5,33,240 6,41,065 7,77,620 9,50,964
EBITDA - - - - - - - -
EBIT 1 1,43,072 1,87,175 2,39,403 3,00,280 3,55,480 4,29,627 5,27,641 6,45,713
Net income 1 70,282 1,15,077 1,44,512 1,66,378 1,90,174 2,49,565 3,07,519 3,78,580
Net Debt 1 16,15,516 21,23,860 28,27,218 34,77,051 41,93,572 43,22,480 54,21,244 67,90,104
Reference price 2 726.00 561.68 724.52 894.56 801.55 1,037.60 1,037.60 1,037.60
Nbr of stocks (in thousands) 60,53,922 60,32,438 61,70,147 62,04,402 62,11,596 62,17,876 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.58x4.76x15.67x-.--% 4.13TCr
24.92x5.13x25.43x0.08% 3.07TCr
17.92x12.26x23.34x1.15% 2.53TCr
7.94x1.83x - 1.72% 2.49TCr
29.86x4.45x13.05x-.--% 2.29TCr
23.41x19.01x46.2x0.15% 1.6TCr
29.76x - - - 1.57TCr
12.67x - - 1.31% 1.26TCr
Average 22.01x 7.91x 24.74x 0.63% 2.37TCr
Weighted average by Cap. 22.83x 6.93x 22.44x 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