Company Valuation: InterGlobe Aviation Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,75,961 7,36,646 13,69,703 19,76,687 15,24,608 18,90,800 - -
Change - -5.07% 85.94% 44.32% -22.87% 24.02% - -
Enterprise Value (EV) 1 9,62,473 9,51,211 15,59,586 22,07,408 18,04,669 22,50,425 23,88,982 27,32,147
Change - -1.17% 63.96% 41.54% -18.24% 24.7% 6.16% 14.36%
P/E -12.6x -241x 16.8x 27.3x -63.7x 64.5x 23.8x 19.2x
PBR -13x -11.8x 68.6x 21.1x 21.9x 17.7x 10.1x 6.61x
PEG - 2.5x -0x -2.4x 0x -0x 0x 0.8x
Capitalization / Revenue 2.99x 1.35x 1.99x 2.45x 1.79x 1.87x 1.67x 1.44x
EV / Revenue 3.71x 1.75x 2.26x 2.73x 2.12x 2.23x 2.1x 2.08x
EV / EBITDA 112x 14.6x 9.56x 12.2x 15.1x 13x 9.19x 8.72x
EV / EBIT -21.3x 68.3x 15.8x 23.5x 154x 42.4x 21.8x 19.3x
EV / FCF 55.2x 7.82x 7.75x 9.79x 8.29x 11.5x 10.2x 10.3x
FCF Yield 1.81% 12.8% 12.9% 10.2% 12.1% 8.72% 9.81% 9.75%
Dividend per Share 2 - - - 10 - 3.286 8.533 11.92
Rate of return - - - 0.2% - 0.07% 0.17% 0.24%
EPS 2 -160 -7.93 211.6 187.7 -61.88 75.83 205.4 255.1
Distribution rate - - - 5.33% - 4.33% 4.15% 4.67%
Net sales 1 2,59,309 5,44,465 6,89,043 8,08,029 8,49,619 10,10,202 11,35,444 13,12,607
EBITDA 1 8,590 64,954 1,63,176 1,80,583 1,19,834 1,73,728 2,59,841 3,13,360
EBIT 1 -45,213 13,924 98,918 93,781 11,752 53,043 1,09,709 1,41,488
Net income 1 -61,618 -3,058 81,725 72,584 -23,919 29,619 80,396 96,649
Net Debt 1 1,86,512 2,14,565 1,89,883 2,30,721 2,80,061 3,59,625 4,98,183 8,41,348
Reference price 2 2,014.15 1,910.65 3,548.65 5,115.35 3,943.50 4,890.00 4,890.00 4,890.00
Nbr of stocks (in thousands) 3,85,255 3,85,547 3,85,979 3,86,423 3,86,613 3,86,667 - -
Announcement Date 25/05/22 18/05/23 23/05/24 21/05/25 29/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.94x0.91x7.13x0.93% 5.35TCr
10.38x0.79x6.63x-.--% 3.59TCr
13.55x1.36x6.19x1.86% 2.77TCr
8.31x0.81x3.87x2.15% 2.54TCr
66.31x2.28x13.26x0.07% 2.03TCr
28.14x1.07x5.73x3.75% 1.63TCr
-10.88x1.6x11.23x-.--% 1.62TCr
11.75x1.19x4.93x - 1.52TCr
-12.17x1.59x10.4x-.--% 1.18TCr
Average 14.26x 1.29x 7.71x 1.09% 2.47TCr
Weighted average by Cap. 14.91x 1.18x 7.34x 1.05%

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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  5. Valuation InterGlobe Aviation Limited