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HDFC Bank Valuation Multiples

Discover revenue and EBITDA valuation multiples for HDFC Bank and similar public comparables like National Bank of Fujairah, First Abu Dhabi Bank, and RAKBANK.

HDFC Bank Overview

About HDFC Bank

HDFC Bank Ltd is an Indian bank. It operates in the following segments; Treasury, Retail banking, Wholesale banking, and Other banking business. The maximum revenue for the company is generated from its Retail banking segment which serves retail customers through its branch network and other channels. This segment raises customer deposits and provides loans and other services to customers using different product groups. Its other operations include providing wholesale banking services to corporates, government entities, and other enterprises, generating income from its treasury operations, and performing para banking activities such as offering credit cards, debit cards, etc. Geographically, the company generates a majority of its revenue from its operations in India.


Founded

1994

HQ

India
Employees

213.5K+

Website

hdfcbank.com

Financials

LTM Revenue $20.1B

LTM EBITDA n/a

EV

$247B

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HDFC Bank Financials

HDFC Bank has a last 12-month revenue of $20.1B and a last 12-month EBITDA of n/a.

In the most recent fiscal year, HDFC Bank achieved revenue of $23.3B and an EBITDA of n/a.

HDFC Bank expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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HDFC Bank P&L

LTM NTM FY 2025 FY 2026 FY 2027
Revenue $20.1B XXX XXX XXX XXX
Gross Profit $20.1B XXX XXX XXX XXX
Gross Margin 100% XXX XXX XXX XXX
EBITDA n/a XXX XXX XXX XXX
EBITDA Margin 0% XXX XXX XXX XXX
EBIT $11.9B XXX XXX XXX XXX
EBIT Margin 59% XXX XXX XXX XXX
Net Profit $8.0B XXX XXX XXX XXX
Net Margin 40% XXX XXX XXX XXX
Net Debt $53.1B XXX XXX XXX XXX

Financial data powered by Morningstar, Inc.

HDFC Bank Stock Performance

As of May 30, 2025, HDFC Bank's stock price is INR 1928 (or $23).

HDFC Bank has current market cap of INR 14.77T (or $173B), and EV of INR 21.11T (or $247B).

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HDFC Bank Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$247B $173B XXX XXX XXX XXX $1.05

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HDFC Bank Valuation Multiples

As of May 30, 2025, HDFC Bank has market cap of $173B and EV of $247B.

HDFC Bank's trades at 12.3x EV/LTM Revenue multiple, and n/a EV/LTM EBITDA.

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

HDFC Bank has a P/E ratio of 21.5x.

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HDFC Bank Financial Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Market cap (current) $173B XXX XXX XXX XXX
EV (current) $247B XXX XXX XXX XXX
EV/Revenue 12.3x XXX XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX XXX
EV/EBIT 20.8x XXX XXX XXX XXX
EV/Gross Profit 12.3x XXX XXX XXX XXX
P/E 21.5x XXX XXX XXX XXX
EV/FCF n/a XXX XXX XXX XXX

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

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HDFC Bank Margins & Growth Rates

HDFC Bank's last 12 month revenue growth is 12%

HDFC Bank's revenue per employee for the last 12 months averaged $0.1M, while opex per employee averaged n/a for the same period.

HDFC Bank's rule of 40 is n/a (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

HDFC Bank's rule of X is n/a (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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HDFC Bank Operational Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Revenue Growth 12% XXX XXX XXX XXX
EBITDA Margin n/a XXX XXX XXX XXX
EBITDA Growth n/a XXX XXX XXX XXX
Rule of 40 n/a XXX XXX XXX XXX
Bessemer Rule of X n/a XXX XXX XXX XXX
Revenue per Employee $0.1M XXX XXX XXX XXX
Opex per Employee n/a XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue n/a XXX XXX XXX XXX

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HDFC Bank Public Comps

See public comps and valuation multiples for Commercial Banking comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Abu Dhabi Commercial Bank XXX XXX XXX XXX XXX XXX
Abu Dhabi Islamic Bank XXX XXX XXX XXX XXX XXX
First Abu Dhabi Bank XXX XXX XXX XXX XXX XXX
National Bank of Fujairah XXX XXX XXX XXX XXX XXX
RAKBANK 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.

HDFC Bank M&A and Investment Activity

HDFC Bank acquired  XXX companies to date.

Last acquisition by HDFC Bank was  XXXXXXXX, XXXXX XXXXX XXXXXX . HDFC Bank acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by HDFC Bank

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About HDFC Bank

When was HDFC Bank founded? HDFC Bank was founded in 1994.
Where is HDFC Bank headquartered? HDFC Bank is headquartered in India.
How many employees does HDFC Bank have? As of today, HDFC Bank has 213.5K+ employees.
Who is the CEO of HDFC Bank? HDFC Bank's CEO is Mr. Sashidhar Jagdishan.
Is HDFC Bank publicy listed? Yes, HDFC Bank is a public company listed on NSE.
What is the stock symbol of HDFC Bank? HDFC Bank trades under HDFCBANK ticker.
When did HDFC Bank go public? HDFC Bank went public in 1995.
Who are competitors of HDFC Bank? Similar companies to HDFC Bank include e.g. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, National Bank of Fujairah.
What is the current market cap of HDFC Bank? HDFC Bank's current market cap is $173B
What is the current revenue of HDFC Bank? HDFC Bank's last 12 months revenue is $20.1B.
What is the current revenue growth of HDFC Bank? HDFC Bank revenue growth (NTM/LTM) is 12%.
What is the current EV/Revenue multiple of HDFC Bank? Current revenue multiple of HDFC Bank is 12.3x.
Is HDFC Bank profitable? Yes, HDFC Bank is EBITDA-positive (as of the last 12 months).

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