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HDFC Bank Valuation Multiples

Discover revenue and EBITDA valuation multiples for HDFC Bank and similar Commercial Banking companies like First Abu Dhabi Bank, Abu Dhabi Islamic 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 $19.3B

LTM EBITDA n/a

EV

$224B

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HDFC Bank Financials

HDFC Bank has a last 12-month revenue of $19.3B and a last 12-month EBITDA of n/a.

In the most recent fiscal year, HDFC Bank achieved revenue of $22.9B 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

FY 2022 FY 2023 FY 2024 LTM NTM
Revenue $11.7B $13.9B $22.9B $19.3B XXX
Gross Profit n/a n/a n/a XXX XXX
Gross Margin NaN% NaN% NaN% XXX XXX
EBITDA n/a n/a n/a n/a XXX
EBITDA Margin NaN% NaN% NaN% 0% XXX
Net Profit $4.4B $5.7B $7.2B XXX XXX
Net Margin 38% 41% 31% XXX XXX
Net Debt $5.9B $9.0B $52.2B XXX XXX

Financial data powered by Morningstar, Inc.

HDFC Bank Stock Performance

As of February 21, 2025, HDFC Bank's stock price is INR 1693 (or $19).

HDFC Bank has current market cap of INR 12.95T (or $149B), and EV of INR 19.48T (or $224B).

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HDFC Bank Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$224B $149B XXX XXX XXX XXX $1.00

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HDFC Bank Valuation Multiples

As of February 21, 2025, HDFC Bank has market cap of $149B and EV of $224B.

HDFC Bank's trades at 11.6x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate HDFC Bank's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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HDFC Bank Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $224B XXX XXX XXX
EV/Revenue 11.0x XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX
P/E 19.7x XXX XXX XXX
P/E/Growth 1.6x XXX XXX XXX
EV/FCF n/a XXX XXX XXX

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

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HDFC Bank Valuation Multiples

HDFC Bank's NTM/LTM revenue growth is 12%

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

Over next 12 months, HDFC Bank's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate HDFC Bank's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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HDFC Bank Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 65% XXX XXX XXX XXX
EBITDA Margin n/a XXX XXX XXX XXX
EBITDA Growth n/a XXX XXX XXX XXX
Rule of 40 (SaaS-only) 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 48% 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 $149B
What is the current revenue of HDFC Bank? HDFC Bank's last 12-month revenue is $19.3B.
What is the current EV/Revenue multiple of HDFC Bank? Current revenue multiple of HDFC Bank is 11.6x.
What is the current revenue growth of HDFC Bank? HDFC Bank revenue growth between 2023 and 2024 was 65%.
Is HDFC Bank profitable? Yes, HDFC Bank is EBITDA-positive (as of the last 12 months).

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