| Intrinsic Valuation of: HDFCBANK | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 45 | Market Cap | ₹11,816B | |||||
| 2021 | - | - (-) | P/E Ratio | 17 | 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 | 304 | |||||
| 5Y Average FCF | ₹771B | 15.0% (-0.2%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.82% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | ₹1,175B | MBG Intrinsic Value | ₹401 | ||||||||
| 2027 | ₹1,322B | ||||||||||
| 2028 | ₹1,454B | ||||||||||
| 2029 | ₹1,563B | ||||||||||
| 2030 | ₹1,641B | ||||||||||
| 2031 | ₹1,682B | ||||||||||
| Terminal Value | ₹32,255B | Net Worth/Share | ₹560 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹27,267B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹3,222B | ₹1,599 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹5,866B | WACC | 6.5% | 1,799 | 1,974 | 2,194 | 2,475 | 2,850 | |||
| Equity Value | ₹24,624B | 7.3% | 1,513 | 1,635 | 1,783 | 1,965 | 2,194 | ||||
| Shares Outstanding | 15,395,428,340 | 8.2% | 1,298 | 1,387 | 1,492 | 1,618 | 1,770 | ||||
| 9.0% | 1,131 | 1,198 | 1,276 | 1,367 | 1,474 | ||||||
| DCF Intrinsic Value | ₹1,599 | 9.8% | 997 | 1,049 | 1,108 | 1,177 | 1,255 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||