| Intrinsic Valuation of: HDFCBANK | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 44 | Market Cap | ₹14,611B | |||||
| 2021 | - | - (-) | P/E Ratio | 22 | Total Asset | ₹48,188B | |||||
| 2022 | ₹555B | - (-) | Net Income | ₹674B | Total Debt | ₹5,866B | |||||
| 2023 | ₹434B | -21.8% (-33.9%) | EBITDA | - | Total Liab | ₹39,565B | |||||
| 2024 | ₹968B | 123.4% (35.5%) | Opr Margin | - | Debt/Equity | 0.68 | |||||
| 2025 | ₹1,129B | 16.6% (-2.3%) | PreTax Margin | - | BV/Share | 305 | |||||
| 5Y Average FCF | ₹771B | 39.4% (-0.2%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | ₹1,412B | MBG Intrinsic Value | ₹392 | ||||||||
| 2027 | ₹1,764B | ||||||||||
| 2028 | ₹2,206B | ||||||||||
| 2029 | ₹2,757B | ||||||||||
| 2030 | ₹3,446B | ||||||||||
| 2031 | ₹4,308B | ||||||||||
| Terminal Value | ₹89,560B | Net Worth/Share | ₹562 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹70,160B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹3,222B | ₹4,400 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹5,866B | WACC | 7.3% | 3,803 | 4,120 | 4,503 | 4,974 | 5,568 | |||
| Equity Value | ₹67,517B | 7.4% | 3,765 | 4,076 | 4,451 | 4,911 | 5,489 | ||||
| Shares Outstanding | 15,346,199,552 | 7.4% | 3,729 | 4,033 | 4,400 | 4,849 | 5,412 | ||||
| 7.9% | 3,392 | 3,644 | 3,941 | 4,299 | 4,738 | ||||||
| DCF Intrinsic Value | ₹4,400 | 8.4% | 3,105 | 3,315 | 3,561 | 3,852 | 4,202 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||