Company Valuation: Bharat Electronics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 513,756 713,069 1,472,555 2,201,705 2,928,297 2,683,420 - -
Change - 38.8% 106.51% 49.52% 33% -8.36% - -
Enterprise Value (EV) 1 438,628 633,592 1,363,187 2,108,345 2,844,765 2,549,078 2,519,226 2,460,169
Change - 44.45% 115.15% 54.66% 34.93% -10.39% -1.17% -2.34%
P/E 21.9x 23.7x 36.6x 41.7x 48.4x 38.5x 33x 28.4x
PBR 4.29x 5.25x 9.16x 11.2x 12.4x 9.38x 7.85x 6.59x
PEG - 0.8x 1.1x 1.3x 3.4x 2.5x 2x 1.8x
Capitalization / Revenue 3.35x 4.04x 7.3x 9.31x 10.7x 8.4x 7.23x 6.31x
EV / Revenue 2.86x 3.59x 6.76x 8.91x 10.4x 7.98x 6.79x 5.78x
EV / EBITDA 13.3x 15.7x 27.3x 31.2x 35.5x 27.7x 23.6x 19.9x
EV / EBIT 15x 17.4x 29.7x 33.3x 38x 29.6x 25.1x 21.3x
EV / FCF 12.2x 107x 34x -403x 556x 37.9x 44.3x 37.6x
FCF Yield 8.22% 0.94% 2.94% -0.25% 0.18% 2.64% 2.26% 2.66%
Dividend per Share 2 1.5 1.8 2.8 2.4 2.5 3.66 4.124 4.718
Rate of return 2.13% 1.85% 1.39% 0.8% 0.62% 1% 1.12% 1.29%
EPS 2 3.213 4.11 5.5 7.23 8.27 9.53 11.14 12.94
Distribution rate 46.7% 43.8% 50.9% 33.2% 30.2% 38.4% 37% 36.5%
Net sales 1 153,138 176,462 201,694 236,580 274,796 319,531 370,947 425,461
EBITDA 1 33,092 40,475 49,982 67,676 80,153 92,013 106,811 123,715
EBIT 1 29,291 36,396 45,857 63,320 74,914 86,249 100,403 115,721
Net income 1 23,489 30,067 40,200 52,882 60,485 69,662 81,392 94,652
Net Debt 1 -75,128 -79,477 -109,368 -93,361 -83,532 -134,342 -164,194 -223,251
Reference price 2 70.28 97.55 201.45 301.20 400.60 367.10 367.10 367.10
Nbr of stocks (in thousands) 7,309,779 7,309,779 7,309,779 7,309,779 7,309,779 7,309,779 - -
Announcement Date 23/5/22 20/5/23 20/5/24 19/5/25 19/5/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
38.52x7.98x27.7x1% 27.71B
35.12x6.47x27.11x0.59% 317B
30.55x2.86x17x1.55% 248B
25.24x1.67x12.44x1.82% 166B
32.24x4.67x19.53x1.07% 150B
-624.5x1.75x39.73x-.--% 148B
31.14x3.41x15.44x1.33% 144B
16.68x1.62x11.67x2.76% 117B
40.42x9.12x28.29x0.24% 88.76B
19.4x1.65x13.48x1.91% 89.12B
Average -35.52x 4.12x 21.24x 1.23% 149.69B
Weighted average by Cap. -34.80x 3.91x 21.23x 1.18%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Bharat Electronics Limited

Historical PBR trend

Valuation ratios - PBR - Bharat Electronics Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Bharat Electronics Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Bharat Electronics Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Bharat Electronics Limited
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