Valuation Hindustan Aeronautics Limited

Equities

Market Closed - NSE India S.E. Other stock markets 04:35:03 17/02/2026 pm IST			5-day change	1st Jan Change
4,247.60 ^INR	+0.51%		+2.82%	-3.22%

13/02	Nomura Adjusts Hindustan Aeronautics' Price Target to INR6,000 From INR6,100, Keeps at Buy	MT
13/02	HAL clarifies report about Dassault-HAL Rafales collaboration	RE

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	3,32,699	4,96,532	9,13,246	22,25,014	27,93,774	28,26,310	-	-
Change	-	49.24%	83.92%	143.64%	25.56%	1.16%	-	-
Enterprise Value (EV) ¹	3,32,699	3,53,096	7,10,184	19,60,796	24,12,067	23,20,723	22,46,681	23,05,304
Change	-	6.13%	101.13%	176.1%	23.01%	-3.79%	-3.19%	2.61%
P/E ratio	10.3x	9.76x	15.7x	29.3x	33.6x	32.4x	28.3x	24.8x
PBR	2.17x	2.58x	3.89x	7.66x	8.02x	7.05x	6.08x	5.27x
PEG	-	0.2x	1.1x	1x	3.54x	6.56x	2x	1.7x
Capitalization / Revenue	1.46x	2.02x	3.39x	7.32x	9.02x	8.12x	6.92x	6.01x
EV / Revenue	1.46x	1.43x	2.64x	6.45x	7.79x	6.67x	5.5x	4.9x
EV / EBITDA	6.22x	6.52x	10.7x	20.1x	25.1x	23.1x	19x	16.9x
EV / EBIT	7.98x	8.21x	14.6x	23.5x	29.2x	28x	23x	20.8x
EV / FCF	2.29x	3.82x	10.1x	30.3x	20.3x	59.9x	23.5x	25.1x
FCF Yield	43.6%	26.2%	9.93%	3.3%	4.93%	1.67%	4.25%	3.99%
Dividend per Share ²	15	25	20	35	23	45.35	46.75	51.77
Rate of return	3.02%	3.37%	1.46%	1.05%	0.55%	1.07%	1.11%	1.23%
EPS ²	48.34	76.06	86.9	113.6	124.4	130.5	149.4	170.6
Distribution rate	31%	32.9%	23%	30.8%	18.5%	34.8%	31.3%	30.3%
Net sales ¹	2,27,546	2,46,202	2,69,278	3,03,808	3,09,809	3,47,996	4,08,295	4,70,208
EBITDA ¹	53,469	54,128	66,630	97,389	96,216	1,00,412	1,18,018	1,36,343
EBIT ¹	41,693	43,030	48,790	83,325	82,574	82,857	97,479	1,10,699
Net income ¹	32,330	50,865	58,112	75,950	83,168	87,543	1,00,742	1,15,974
Net Debt ¹	-	-1,43,436	-2,03,062	-2,64,218	-3,81,708	-5,05,588	-5,79,629	-5,21,006
Reference price ²	497.48	742.45	1,365.55	3,327.00	4,177.45	4,226.10	4,226.10	4,226.10
Nbr of stocks (in thousands)	6,68,775	6,68,775	6,68,775	6,68,775	6,68,775	6,68,775	-	-
Announcement Date	28/06/21	13/05/22	12/05/23	16/05/24	14/05/25	-	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HINDUSTAN AERONAUTICS LIMITED	32.38x	6.67x	23.11x	1.07%	3.11TCr
GE AEROSPACE	39.62x	7.05x	29x	0.56%	33TCr
RTX CORPORATION	35.51x	3.16x	18.94x	1.46%	27TCr
ROLLS-ROYCE HOLDINGS PLC	21.56x	5.41x	25.68x	0.72%	15TCr
NORTHROP GRUMMAN CORPORATION	25.22x	2.48x	17.59x	1.39%	9.97TCr
GENERAL DYNAMICS CORPORATION	21.37x	1.79x	14.8x	1.84%	9.39TCr
RHEINMETALL AG	72.02x	7.33x	31.64x	0.65%	8.81TCr
BAE SYSTEMS PLC	29.12x	2.18x	15.72x	1.75%	8.23TCr
L3HARRIS TECHNOLOGIES, INC.	30x	3.1x	16.82x	1.45%	6.45TCr
HANWHA AEROSPACE CO., LTD.	42.73x	2.39x	15.33x	0.35%	3.94TCr
Average	34.95x	4.16x	20.86x	1.12%	12.46TCr
Weighted average by Cap.	35.08x	4.59x	22.56x	1.07%