HDFC Bank Limited

HDB Financial Banks Regional

HDFC Bank Limited’s revenue for fiscal 2026 (year ended March 2026) was $46.4 billion, down 5.46% from fiscal 2025. In the quarter to June 2026, revenue fell 9.36%, EPS grew 8.11% and free cash flow fell 1.95%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

23.76 0.23 +0.98%
Market cap
$120.9B
P/E
16.0×
Fwd P/E
—
Dividend yield
—
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Mar '17 Mar '18 Mar '19 Mar '20 Mar '21 Mar '22 Mar '23 Mar '24 Mar '25 Mar '26
Piotroski F-Score
7 5 3 4 5 5 5 5 5 5
P/E ratio
27.87 36.58 42.71 31.70 39.81 22.14 21.72 17.15 21.61 17.14
P/S ratio
7.32 9.61 11.23 5.92 4.20 5.35 5.13 3.14 3.44 2.74
P/FCF ratio
13.99 18.36 20.31 7.66 6.70 5.52 13.56 50.87 5.20 3.73
P/Operating CF
46.18 60.62 63.13 42.11 48.49 76.55 83.70 89.80 114.30 86.18
P/B ratio
6.56 8.61 4.63 2.67 2.50 3.42 3.48 1.40 1.67 1.30
Price to Tangible BV
7.55 9.90 4.88 2.68 2.51 3.53 3.58 2.28 2.57 1.93
EV/Sales
7.15 9.44 11.62 7.19 1.58 5.36 5.17 4.30 4.13 3.04
EV/EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EV/Operating CF
12.28 16.21 19.29 8.83 2.43 5.34 12.13 44.04 5.92 3.95
EV/FCF
13.65 18.02 21.02 9.30 2.51 5.52 13.66 69.57 6.25 4.13
Quick Ratio
0.09 0.17 0.10 0.09 0.09 0.09 0.10 0.10 0.10 0.11
Current Ratio
0.91 0.96 0.96 0.90 0.90 0.92 0.92 1.09 1.04 1.01
Net Debt/EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt/Assets
8.06% 8.21% 7.87% 6.43% 6.53% 7.36% 7.98% 15.07% 12.17% 9.73%
Debt/Equity
0.71 0.79 0.64 0.54 0.54 0.62 0.70 0.84 0.68 0.56
Asset Turnover
0.10 0.10 0.09 0.09 0.09 0.08 0.08 0.10 0.09 0.08
Operating CF/Net income
2.70 0.53 0.83 0.66 2.83 1.51 0.96 1.64 1.78 1.59
Capex/Depreciation
(0.75) (0.48) (0.71) (0.74) (0.81) (0.94) (1.17) (0.71) (0.65) (0.42)
ROE
14.95% 16.17% 15.26% 14.15% 16.29% 16.24% 17.58% 11.48% 8.06% 7.57%
ROA
1.69% 1.74% 1.74% 1.71% 1.95% 1.94% 2.04% 1.77% 1.44% 1.34%
ROIC
12.37% 29.97% 13.25% 13.02% 13.49% 12.90% 13.83% 3.69% 4.67% 5.61%
Return on Tangible Assets
(21.81%) (51.62%) (51.93%) (20.09%) (22.19%) (30.53%) (33.51%) 23.57% 52.07% 103.84%
Average Days of Receivables
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Research and Development Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
27.91% 28.44% 26.24% 29.29% 31.59% 30.14% 26.23% 34.91% 34.49% 34.31%
Intangible Assets out of Total Assets
0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.07 0.06 0.06
Share Based Compensation of Revenue
0.98% 0.67% 0.44% 0.53% 0.69% 0.87% 0.71% 0.57% 0.59% 0.51%
Graham Net Nets
(0.21) (0.16) (0.27) (0.58) (2.05) (0.34) (0.36) (0.64) (0.57) (0.70)
Graham Number
0.00 0.00 0.00 0.00 18.47 16.72 18.18 27.20 26.20 24.96
Earnings Yield
3.59% 2.73% 2.34% 3.15% 2.51% 4.52% 4.60% 5.83% 4.63% 5.84%
Free Cash Flow Yield
7.15% 5.45% 4.92% 13.05% 14.94% 18.12% 7.38% 1.97% 19.23% 26.82%
Revenue per Share
3.80 4.41 4.86 5.13 5.70 5.73 6.50 8.95 9.66 9.07
Operating CF per Share
1.72 0.42 0.74 0.62 3.44 2.08 1.56 2.60 2.75 2.33
Capex per Share
(0.06) (0.04) (0.07) (0.07) (0.07) (0.09) (0.14) (0.13) (0.15) (0.10)
Free Cash Flow per Share
1.67 0.38 0.68 0.56 3.37 1.98 1.42 2.47 2.60 2.23
Cash per Share
2.94 6.84 4.36 4.25 4.85 5.53 6.49 6.56 6.81 7.95
Shareholders Equity per Share
4.67 5.25 6.62 6.90 8.07 8.97 9.57 20.05 19.85 19.07
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
4.67 5.25 6.62 6.90 8.07 8.97 9.57 20.05 19.85 19.07
Free Cash Flow
5,655.10 1,308.40 2,416.60 2,030.40 12,361.60 7,313.40 5,280.50 11,639.30 13,229.50 11,411.80
Working Capital
(10,535.90) (5,909.60) (6,753.00) (17,825.90) (20,813.40) (17,533.80) (19,051.50) 29,933.40 13,120.60 5,326.70
Capital Expenditures
(193.20) (139.50) (233.40) (240.30) (241.40) (344.40) (525.50) (627.60) (765.70) (509.20)
Net Current Asset Value
(21,806.80) (20,237.80) (21,856.40) (31,442.00) (36,875.20) (38,020.60) (44,047.70) (84,780.30) (95,768.10) (88,673.10)
EV/EBIT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capex to Sales
0.02 0.01 0.01 0.01 0.01 0.02 0.02 0.01 0.02 0.01
Price to Operating Income
29.73 39.02 45.56 30.39 23.17 15.00 13.91 8.61 9.03 10.94
Other line items
Depreciation/Fixed assets
0.43 0.49 0.52 0.51 0.41 0.42 0.42 0.50 0.58 0.64
Cash ROIC
15.24% 2.34% 4.45% 3.74% 19.49% 9.89% 6.24% 5.67% 6.48% 5.92%
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
0.06 0.06 0.06 0.06 0.05 0.04 0.04 0.07 0.07 0.06
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Days of Payables
6,280.65 6,846.28 6,302.99 6,764.70 8,219.33 9,732.43 8,860.60 5,655.70 5,426.69 6,082.04
Days of Inventory on Hand
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Payables
90,777.55 110,127.90 127,235.15 142,711.90 167,194.55 193,851.90 217,207.05 257,129.20 301,271.50 323,875.05
Average Assets
128,297.70 157,200.50 183,303.00 201,871.90 228,775.50 262,057.40 295,827.40 421,373.75 546,720.45 562,437.25
Average Common Equity
14,497.30 16,959.95 20,859.65 24,402.80 27,367.30 31,327.30 34,288.40 65,063.90 97,780.95 99,283.05

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Columns are period end dates