| Intrinsic Valuation of: HDFCBANK | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 92 | Market Cap | ₹15,429B | |||||
| 2021 | - | - (-) | P/E Ratio | 22 | Total Asset | ₹44,119B | |||||
| 2022 | ₹904B | - (-) | Net Income | ₹623B | Total Debt | ₹6,649B | |||||
| 2023 | ₹555B | -38.6% (-43.6%) | EBITDA | - | Total Liab | ₹36,232B | |||||
| 2024 | ₹434B | -21.8% (-33.9%) | Opr Margin | - | Debt/Equity | 0.84 | |||||
| 2025 | ₹968B | 123.4% (35.5%) | PreTax Margin | - | BV/Share | 511 | |||||
| 5Y Average FCF | ₹715B | 21.0% (-14.0%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (21.0%) | ||||||||||
| 2026 | ₹1,172B | MBG Intrinsic Value | ₹827 | ||||||||
| 2027 | ₹1,417B | ||||||||||
| 2028 | ₹1,714B | ||||||||||
| 2029 | ₹2,074B | ||||||||||
| 2030 | ₹2,508B | ||||||||||
| 2031 | ₹3,034B | ||||||||||
| Terminal Value | ₹63,087B | Net Worth/Share | ₹1,028 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹50,023B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹3,426B | ₹6,103 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹6,649B | WACC | 7.3% | 5,262 | 5,709 | 6,249 | 6,913 | 7,751 | |||
| Equity Value | ₹46,800B | 7.4% | 5,209 | 5,648 | 6,175 | 6,824 | 7,639 | ||||
| Shares Outstanding | 7,667,899,904 | 7.4% | 5,157 | 5,587 | 6,103 | 6,736 | 7,531 | ||||
| 7.9% | 4,682 | 5,037 | 5,456 | 5,961 | 6,580 | ||||||
| DCF Intrinsic Value | ₹6,103 | 8.4% | 4,277 | 4,573 | 4,919 | 5,329 | 5,822 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||