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Bharat Electronics Overview
About Bharat Electronics
Bharat Electronics Ltd is an aerospace and defense company predominantly owned by the Indian government. It manufactures a wide range of specialized electronics and equipment for defense and civilian use. Its investments are made in research and development to meet the ever-changing needs of customers and to test products in its pipeline. Its product portfolio includes unmanned systems, land-based radars, batteries, weapon systems, fuzes, simulators, and jammers, among others. It also provides cybersecurity and software products. A majority of the company's revenue is derived from the defense sector. Geographically, the company's key revenue is derived from India, and it also has international customers from countries like the United Kingdom, Israel, and others.
Founded
1954
HQ
Employees
8.8K
Website
Financials (LTM)
EV
$34B
Bharat Electronics Financials
Bharat Electronics reported last 12-month revenue of $3B and EBITDA of $857M.
In the same LTM period, Bharat Electronics generated $1B in gross profit, $857M in EBITDA, and $656M in net income.
Revenue (LTM)
Bharat Electronics P&L
In the most recent fiscal year, Bharat Electronics reported revenue of $3B and EBITDA of $818M.
Bharat Electronics expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | 48% | XXX | 43% | XXX | XXX | XXX |
| EBITDA | $857M | XXX | $818M | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | 30% | XXX | XXX | XXX |
| EBIT Margin | 27% | XXX | 27% | XXX | XXX | XXX |
| Net Profit | $656M | XXX | $619M | XXX | XXX | XXX |
| Net Margin | 22% | XXX | 22% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Bharat Electronics Stock Performance
Bharat Electronics has current market cap of $35B, and enterprise value of $34B.
Market Cap Evolution
Bharat Electronics' stock price is $4.74.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $34B | $35B | -0.2% | XXX | XXX | XXX | $0.08 |
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Start Free TrialBharat Electronics Valuation Multiples
Bharat Electronics trades at 11.3x EV/Revenue multiple, and 39.4x EV/EBITDA.
EV / Revenue (LTM)
Bharat Electronics Financial Valuation Multiples
As of March 15, 2026, Bharat Electronics has market cap of $35B and EV of $34B.
Equity research analysts estimate Bharat Electronics' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Bharat Electronics has a P/E ratio of 52.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $35B | XXX | $35B | XXX | XXX | XXX |
| EV (current) | $34B | XXX | $34B | XXX | XXX | XXX |
| EV/Revenue | 11.3x | XXX | 12.2x | XXX | XXX | XXX |
| EV/EBITDA | 39.4x | XXX | 41.3x | XXX | XXX | XXX |
| EV/EBIT | 41.3x | XXX | 44.9x | XXX | XXX | XXX |
| EV/Gross Profit | 23.4x | XXX | 28.6x | XXX | XXX | XXX |
| P/E | 52.9x | XXX | 56.0x | XXX | XXX | XXX |
| EV/FCF | 66.6x | XXX | (803.0x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Bharat Electronics Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Bharat Electronics Margins & Growth Rates
Bharat Electronics' revenue in the last 12 month grew by 17%.
Bharat Electronics' revenue per employee in the last FY averaged $0.3M.
Bharat Electronics' rule of 40 is 46% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Bharat Electronics' rule of X is 72% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Bharat Electronics Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 17% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | 30% | XXX | XXX | XXX |
| EBITDA Growth | 16% | XXX | 5% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 46% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 72% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 17% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Bharat Electronics Public Comps
See public comps and valuation multiples for other Defense Systems comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Kongsberg | XXX | XXX | XXX | XXX | XXX | XXX |
| Saab | XXX | XXX | XXX | XXX | XXX | XXX |
| ASELSAN | XXX | XXX | XXX | XXX | XXX | XXX |
| Teledyne | XXX | XXX | XXX | XXX | XXX | XXX |
| Elbit Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Bharat Electronics M&A Activity
Bharat Electronics acquired XXX companies to date.
Last acquisition by Bharat Electronics was on XXXXXXXX, XXXXX. Bharat Electronics acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Bharat Electronics
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialBharat Electronics Investment Activity
Bharat Electronics invested in XXX companies to date.
Bharat Electronics made its latest investment on XXXXXXXX, XXXXX. Bharat Electronics invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Bharat Electronics
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Bharat Electronics
| When was Bharat Electronics founded? | Bharat Electronics was founded in 1954. |
| Where is Bharat Electronics headquartered? | Bharat Electronics is headquartered in India. |
| How many employees does Bharat Electronics have? | As of today, Bharat Electronics has over 8K employees. |
| Is Bharat Electronics publicly listed? | Yes, Bharat Electronics is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of Bharat Electronics? | Bharat Electronics trades under BEL ticker. |
| When did Bharat Electronics go public? | Bharat Electronics went public in 2000. |
| Who are competitors of Bharat Electronics? | Bharat Electronics main competitors are Kongsberg, Saab, ASELSAN, Teledyne. |
| What is the current market cap of Bharat Electronics? | Bharat Electronics' current market cap is $35B. |
| What is the current revenue of Bharat Electronics? | Bharat Electronics' last 12 months revenue is $3B. |
| What is the current revenue growth of Bharat Electronics? | Bharat Electronics revenue growth (NTM/LTM) is 17%. |
| What is the current EV/Revenue multiple of Bharat Electronics? | Current revenue multiple of Bharat Electronics is 11.3x. |
| Is Bharat Electronics profitable? | Yes, Bharat Electronics is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Bharat Electronics? | Bharat Electronics' last 12 months EBITDA is $857M. |
| What is Bharat Electronics' EBITDA margin? | Bharat Electronics' last 12 months EBITDA margin is 29%. |
| What is the current EV/EBITDA multiple of Bharat Electronics? | Current EBITDA multiple of Bharat Electronics is 39.4x. |
| What is the current FCF of Bharat Electronics? | Bharat Electronics' last 12 months FCF is $508M. |
| What is Bharat Electronics' FCF margin? | Bharat Electronics' last 12 months FCF margin is 17%. |
| What is the current EV/FCF multiple of Bharat Electronics? | Current FCF multiple of Bharat Electronics is 66.6x. |
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