Asian Paints - Public Comps and Valuation Multiples

Asian Paints Overview

About Asian Paints

Asian Paints Ltd manufactures and sells a variety of paint and home improvement products. The firm operates itself as a Paints and Home Decor company which sells interior and exterior paints, metal finish, and wood finish. The home improvement product offerings include kitchen and bathroom products. Asian Paints sells its products to distributors and directly to the home improvement industry through the company's network of retail stores. The majority of revenue comes from India.

Founded

1945

HQ

Employees

11.1K+

Website

asianpaints.com

Sectors

Chemicals

Financials

LTM Revenue $3.9B

LTM EBITDA $715M

EV

$31.3B

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Asian Paints Financials

As of November 2025, Asian Paints reported last 12-month revenue of $3.9B and EBITDA of $715M.

In the same period, Asian Paints generated $1.7B in LTM gross profit and $467M in net income.

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Asian Paints P&L

In the most recent fiscal year, Asian Paints reported revenue of $3.8B and EBITDA of $711M.

Asian Paints expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$3.9B	XXX	$3.8B	XXX	XXX	XXX
Gross Profit	$1.7B	XXX	$1.6B	XXX	XXX	XXX
Gross Margin	43%	XXX	42%	XXX	XXX	XXX
EBITDA	$715M	XXX	$711M	XXX	XXX	XXX
EBITDA Margin	18%	XXX	19%	XXX	XXX	XXX
EBIT	$592M	XXX	$558M	XXX	XXX	XXX
EBIT Margin	15%	XXX	15%	XXX	XXX	XXX
Net Profit	$467M	XXX	$410M	XXX	XXX	XXX
Net Margin	12%	XXX	11%	XXX	XXX	XXX
Net Debt	XXX	XXX	$46.8M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Asian Paints including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $3.9B. EBITDA for the last twelve months was $715M. In the most recent fiscal year, Asian Paints achieved $3.8B in revenue and $711M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$3.9B	Analyst estimates available to subscribers	$3.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.7B	Analyst estimates available to subscribers	$1.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	43.2% gross margin	Analyst estimates available to subscribers	42.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$715M	Analyst estimates available to subscribers	$711M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	18.2% EBITDA margin	Analyst estimates available to subscribers	18.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$592M	Analyst estimates available to subscribers	$558M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	15.1% EBIT margin	Analyst estimates available to subscribers	14.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$467M	Analyst estimates available to subscribers	$410M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	11.9% net profit margin	Analyst estimates available to subscribers	10.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$46.8M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Asian Paints

This financial data table provides comprehensive performance metrics for Asian Paints, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Asian Paints generated $3.9B in revenue over the last twelve months.
The company achieved $715M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.7B.
Net income over the last twelve months reached $467M.

Fiscal Year Performance

In the most recent fiscal year, Asian Paints reported $3.8B in total revenue.
Fiscal year EBITDA was $711M.
The company maintained a gross profit margin of 42.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 18.8%.
Net profit margin reached 10.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Asian Paints. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Asian Paints Stock Performance

Asian Paints has current market cap of INR 2.83T (or $31.7B), and EV of INR 2.80T (or $31.3B).

Market Cap Evolution

Asian Paints Stock Data

As of December 3, 2025, Asian Paints's stock price is INR 2954 (or $33).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$31.3B	$31.7B	XXX	XXX	XXX	XXX	$0.49

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Asian Paints Valuation Multiples

Asian Paints's trades at 8.2x EV/Revenue multiple, and 40.8x EV/EBITDA.

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Asian Paints Financial Valuation Multiples

As of December 3, 2025, Asian Paints has market cap of $31.7B and EV of $31.3B.

Equity research analysts estimate Asian Paints's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Asian Paints has a P/E ratio of 67.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$31.7B	XXX	$31.7B	XXX	XXX	XXX
EV (current)	$31.3B	XXX	$31.3B	XXX	XXX	XXX
EV/Revenue	8.0x	XXX	8.2x	XXX	XXX	XXX
EV/EBITDA	43.8x	XXX	40.8x	XXX	XXX	XXX
EV/EBIT	52.9x	XXX	51.6x	XXX	XXX	XXX
EV/Gross Profit	18.4x	XXX	n/a	XXX	XXX	XXX
P/E	67.9x	XXX	68.8x	XXX	XXX	XXX
EV/FCF	76.0x	XXX	98.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Asian Paints Margins & Growth Rates

Asian Paints's last 12 month revenue growth is 8%

Asian Paints's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Asian Paints's rule of 40 is 28% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Asian Paints's rule of X is 38% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Asian Paints Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	8%	XXX	6%	XXX	XXX	XXX
EBITDA Margin	18%	XXX	20%	XXX	XXX	XXX
EBITDA Growth	11%	XXX	2%	XXX	XXX	XXX
Rule of 40	28%	XXX	28%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	38%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	10%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	27%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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