Company Valuation: NTPC Ltd

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,309,050 1,697,886 3,256,140 3,467,528 3,594,069 3,066,571 - -
Change - 29.7% 91.78% 6.49% 3.65% -14.68% - -
Enterprise Value (EV) 1 2,990,965 3,510,445 5,062,325 5,272,178 5,474,576 5,095,779 5,139,222 5,163,426
Change - 17.37% 44.21% 4.15% 3.84% -6.92% 0.85% 0.47%
P/E 8.12x 9.88x 19.2x 17.7x 15.5x 13.8x 12.9x 12.9x
PBR 1.02x 1.22x 2.17x 2.15x 2.06x 1.61x 1.5x 1.38x
PEG - 1.48x -13.62x 1.1x 0.9x -3.63x 1.91x -44.59x
Capitalization / Revenue 1.13x 1.04x 2.01x 2.04x 2.17x 1.63x 1.54x 1.48x
EV / Revenue 2.58x 2.14x 3.13x 3.1x 3.31x 2.72x 2.57x 2.5x
EV / EBITDA 8.84x 8.12x 11.7x 11.6x 12.2x 10.1x 9.57x 9.1x
EV / EBIT 13.2x 11.7x 17.3x 17.4x 19x 14.8x 14.3x 13.5x
EV / FCF 17x 19.4x 29.1x 25.9x 30x 56.7x 36.4x 23x
FCF Yield 5.88% 5.15% 3.43% 3.86% 3.33% 1.76% 2.75% 4.35%
Dividend per Share 2 7 7.25 7.75 8.35 9 9.569 10.2 10.18
Rate of return 5.19% 4.14% 2.31% 2.34% 2.43% 3.03% 3.23% 3.22%
EPS 2 16.62 17.73 17.48 20.26 23.89 22.98 24.53 24.46
Distribution rate 42.1% 40.9% 44.3% 41.2% 37.7% 41.6% 41.6% 41.6%
Net sales 1 1,161,373 1,637,698 1,619,850 1,700,374 1,654,937 1,875,905 1,997,645 2,066,384
EBITDA 1 338,457 432,284 431,824 453,732 447,991 504,532 537,026 567,674
EBIT 1 226,116 300,917 292,392 303,173 287,682 344,249 360,396 382,525
Net income 1 161,114 171,967 180,794 196,494 231,622 216,904 232,994 235,611
Net Debt 1 1,681,915 1,812,559 1,806,184 1,804,650 1,880,506 2,029,208 2,072,651 2,096,855
Reference price 2 135.00 175.10 335.80 357.60 370.65 316.25 316.25 316.25
Nbr of stocks (in thousands) 9,696,666 9,696,666 9,696,666 9,696,666 9,696,666 9,696,666 - -
Announcement Date 5/20/22 A 5/19/23 A 5/24/24 A 5/24/25 A 5/23/26 A - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.76x2.72x10.1x3.03% 32.3B
26.82x6.41x17.64x-.--% 38.39B
13.81x6.54x13.77x3.2% 33.19B
24.15x7.95x13.03x1.74% 30.28B
22.91x11.18x16.11x1.98% 29.92B
77.55x19.04x22.25x-.--% 22.53B
17.65x5.12x9.01x3.12% 19.4B
21.5x5.7x11.78x-.--% 16.44B
Average 27.27x 8.08x 14.21x 1.63% 27.81B
Weighted average by Cap. 26.04x 7.86x 14.42x 1.69%

Y-o-Y evolution of P/E

Valuation ratios - P/E - NTPC Ltd

Historical PBR trend

Valuation ratios - PBR - NTPC Ltd

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - NTPC Ltd

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - NTPC Ltd


Year-on-year evolution of the Yield

Valuation ratios - Yield - NTPC Ltd