HDFC BANK LTD-ADR (HDB) Fundamental Analysis & Valuation

NYSE:HDB • US40415F1012

Current stock price

25.535 USD
+0.14 (+0.57%)
Last:

This HDB fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. HDB Profitability Analysis

1.1 Basic Checks

  • In the past year HDB was profitable.
  • In the past year HDB has reported a negative cash flow from operations.
  • In the past 5 years HDB has always been profitable.
  • Of the past 5 years HDB 4 years had a positive operating cash flow.
HDB Yearly Net Income VS EBIT VS OCF VS FCFHDB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500B -500B 1T

1.2 Ratios

  • The Return On Assets of HDB (1.60%) is better than 89.47% of its industry peers.
  • With an excellent Return On Equity value of 13.32%, HDB belongs to the best of the industry, outperforming 88.16% of the companies in the same industry.
Industry RankSector Rank
ROA 1.6%
ROE 13.32%
ROIC N/A
ROA(3y)1.67%
ROA(5y)1.72%
ROE(3y)14.5%
ROE(5y)14.81%
ROIC(3y)N/A
ROIC(5y)N/A
HDB Yearly ROA, ROE, ROICHDB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • HDB has a Profit Margin (24.47%) which is comparable to the rest of the industry.
  • HDB's Profit Margin has declined in the last couple of years.
  • The Operating Margin and Gross Margin are not available for HDB so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 24.47%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-10.91%
PM growth 5Y-5.13%
GM growth 3YN/A
GM growth 5YN/A
HDB Yearly Profit, Operating, Gross MarginsHDB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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0

2. HDB Health Analysis

2.1 Basic Checks

  • HDB does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • HDB has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, HDB has more shares outstanding
  • Compared to 1 year ago, HDB has an improved debt to assets ratio.
HDB Yearly Shares OutstandingHDB Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
HDB Yearly Total Debt VS Total AssetsHDB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10T 20T 30T 40T

2.2 Solvency

  • A Debt/Equity ratio of 1.10 is on the high side and indicates that HDB has dependencies on debt financing.
  • HDB has a worse Debt to Equity ratio (1.10) than 85.79% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC4.28%
HDB Yearly LT Debt VS Equity VS FCFHDB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2T 4T 6T

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
HDB Yearly Current Assets VS Current LiabilitesHDB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100B 200B 300B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. HDB Growth Analysis

3.1 Past

  • HDB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.48%, which is quite good.
  • The Earnings Per Share has been growing by 13.05% on average over the past years. This is quite good.
  • HDB shows a small growth in Revenue. In the last year, the Revenue has grown by 5.81%.
  • HDB shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 27.58% yearly.
EPS 1Y (TTM)9.48%
EPS 3Y9.86%
EPS 5Y13.05%
EPS Q2Q%10.83%
Revenue 1Y (TTM)5.81%
Revenue growth 3Y38.04%
Revenue growth 5Y27.58%
Sales Q2Q%8.93%

3.2 Future

  • Based on estimates for the next years, HDB will show a very strong growth in Earnings Per Share. The EPS will grow by 35.16% on average per year.
  • HDB is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.63% yearly.
EPS Next Y13.43%
EPS Next 2Y13.8%
EPS Next 3Y14.72%
EPS Next 5Y35.16%
Revenue Next Year14.27%
Revenue Next 2Y11.52%
Revenue Next 3Y12.63%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
HDB Yearly Revenue VS EstimatesHDB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500B 1T 1.5T 2T 2.5T
HDB Yearly EPS VS EstimatesHDB Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 100 200 300 400

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2

4. HDB Valuation Analysis

4.1 Price/Earnings Ratio

  • HDB is valuated correctly with a Price/Earnings ratio of 16.69.
  • HDB's Price/Earnings ratio is rather expensive when compared to the industry. HDB is more expensive than 80.00% of the companies in the same industry.
  • HDB's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.23.
  • With a Price/Forward Earnings ratio of 13.94, HDB is valued correctly.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HDB indicates a slightly more expensive valuation: HDB is more expensive than 74.21% of the companies listed in the same industry.
  • HDB is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.42, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 16.69
Fwd PE 13.94
HDB Price Earnings VS Forward Price EarningsHDB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
HDB Per share dataHDB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

  • HDB's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • A more expensive valuation may be justified as HDB's earnings are expected to grow with 14.72% in the coming years.
PEG (NY)1.24
PEG (5Y)1.28
EPS Next 2Y13.8%
EPS Next 3Y14.72%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. HDB Dividend Analysis

5.1 Amount

  • HDB has a Yearly Dividend Yield of 2.11%. Purely for dividend investing, there may be better candidates out there.
  • In the last 3 months the price of HDB has falen by -29.26%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
  • Compared to an average industry Dividend Yield of 2.78, HDB is paying slightly less dividend.
  • HDB's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.11%

5.2 History

  • The dividend of HDB has a limited annual growth rate of 1.31%.
  • HDB has been paying a dividend for at least 10 years, so it has a reliable track record.
  • HDB has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.31%
Div Incr Years3
Div Non Decr Years3
HDB Yearly Dividends per shareHDB Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2021 2022 2023 2024 2025 2 4 6 8 10

5.3 Sustainability

  • 28.62% of the earnings are spent on dividend by HDB. This is a low number and sustainable payout ratio.
  • The dividend of HDB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP28.62%
EPS Next 2Y13.8%
EPS Next 3Y14.72%
HDB Yearly Income VS Free CF VS DividendHDB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500B -500B 1T
HDB Dividend Payout.HDB Dividend Payout, showing the Payout Ratio.HDB Dividend Payout.PayoutRetained Earnings

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HDB Fundamentals: All Metrics, Ratios and Statistics

HDFC BANK LTD-ADR

NYSE:HDB (3/23/2026, 11:41:10 AM)

25.535

+0.14 (+0.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-19
Earnings (Next)04-17
Inst Owners55.28%
Inst Owner Change0%
Ins Owners0.01%
Ins Owner Change0%
Market Cap130.98B
Revenue(TTM)3.12T
Net Income(TTM)723.60B
Analysts87.83
Price Target35.97 (40.87%)
Short Float %0.21%
Short Ratio1.54
Dividend
Industry RankSector Rank
Dividend Yield 2.11%
Yearly Dividend0.42
Dividend Growth(5Y)1.31%
DP28.62%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.94%
Min EPS beat(2)1.45%
Max EPS beat(2)10.42%
EPS beat(4)2
Avg EPS beat(4)1.69%
Min EPS beat(4)-3.55%
Max EPS beat(4)10.42%
EPS beat(8)3
Avg EPS beat(8)-1.43%
EPS beat(12)4
Avg EPS beat(12)-2.24%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)7.09%
Min Revenue beat(2)0.13%
Max Revenue beat(2)14.06%
Revenue beat(4)2
Avg Revenue beat(4)3.1%
Min Revenue beat(4)-1.63%
Max Revenue beat(4)14.06%
Revenue beat(8)3
Avg Revenue beat(8)1.64%
Revenue beat(12)5
Avg Revenue beat(12)1.52%
Revenue beat(16)9
Avg Revenue beat(16)2.95%
PT rev (1m)-2.9%
PT rev (3m)-6.84%
EPS NQ rev (1m)0.11%
EPS NQ rev (3m)-36.48%
EPS NY rev (1m)0.09%
EPS NY rev (3m)0.27%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)-0.63%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)-0.07%
Valuation
Industry RankSector Rank
PE 16.69
Fwd PE 13.94
P/S 4.15
P/FCF N/A
P/OCF N/A
P/B 2.26
P/tB 2.26
EV/EBITDA N/A
EPS(TTM)1.53
EY5.99%
EPS(NY)1.83
Fwd EY7.17%
FCF(TTM)-0.46
FCFYN/A
OCF(TTM)-0.39
OCFYN/A
SpS6.16
BVpS11.31
TBVpS11.31
PEG (NY)1.24
PEG (5Y)1.28
Graham Number19.74
Profitability
Industry RankSector Rank
ROA 1.6%
ROE 13.32%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 24.47%
GM N/A
FCFM N/A
ROA(3y)1.67%
ROA(5y)1.72%
ROE(3y)14.5%
ROE(5y)14.81%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-10.91%
PM growth 5Y-5.13%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 92.23%
Cap/Sales 1.24%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC4.28%
ROIC/WACCN/A
Cap/Depr(3y)131.18%
Cap/Depr(5y)129.81%
Cap/Sales(3y)1.95%
Cap/Sales(5y)1.93%
Profit Quality(3y)84.08%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9.48%
EPS 3Y9.86%
EPS 5Y13.05%
EPS Q2Q%10.83%
EPS Next Y13.43%
EPS Next 2Y13.8%
EPS Next 3Y14.72%
EPS Next 5Y35.16%
Revenue 1Y (TTM)5.81%
Revenue growth 3Y38.04%
Revenue growth 5Y27.58%
Sales Q2Q%8.93%
Revenue Next Year14.27%
Revenue Next 2Y11.52%
Revenue Next 3Y12.63%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-144.62%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-134.55%
OCF growth 3YN/A
OCF growth 5YN/A

HDFC BANK LTD-ADR / HDB Fundamental Analysis FAQ

What is the fundamental rating for HDB stock?

ChartMill assigns a fundamental rating of 3 / 10 to HDB.


Can you provide the valuation status for HDFC BANK LTD-ADR?

ChartMill assigns a valuation rating of 2 / 10 to HDFC BANK LTD-ADR (HDB). This can be considered as Overvalued.


How profitable is HDFC BANK LTD-ADR (HDB) stock?

HDFC BANK LTD-ADR (HDB) has a profitability rating of 3 / 10.


What are the PE and PB ratios of HDFC BANK LTD-ADR (HDB) stock?

The Price/Earnings (PE) ratio for HDFC BANK LTD-ADR (HDB) is 16.69 and the Price/Book (PB) ratio is 2.26.


What is the financial health of HDFC BANK LTD-ADR (HDB) stock?

The financial health rating of HDFC BANK LTD-ADR (HDB) is 0 / 10.