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Hero MotoCorp Valuation Multiples

Discover revenue and EBITDA valuation multiples for Hero MotoCorp and similar public comparables like Ashok Leyland, TVS Motor, and Bajaj Auto.

Hero MotoCorp Overview

About Hero MotoCorp

Hero MotoCorp Ltd is a motorcycle manufacturing company domiciled in India. The company manufactures and distributes motorcycles, scooters, and related spare parts. Sales of motorcycles contribute a substantial amount to the consolidated revenue, followed by scooter sales. It derives the vast majority of its revenue from domestic operations and also has a presence in Latin America, South Asia, Africa, and the Middle East. Hero MotoCorp principally manufactures and assembles production domestically. The company predominantly operates in the automotive segment which includes all activities related to the development, design, manufacture, assembly, and sale of vehicles, as well as the sale of related parts and accessories.


Founded

1984

HQ

India
Employees

9.2K+

Financials

LTM Revenue $4.8B

LTM EBITDA $689M

EV

$7.7B

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Hero MotoCorp Financials

Hero MotoCorp has a last 12-month revenue of $4.8B and a last 12-month EBITDA of $689M.

In the most recent fiscal year, Hero MotoCorp achieved revenue of $4.4B and an EBITDA of $688M.

Hero MotoCorp expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Hero MotoCorp P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $3.9B $4.4B XXX XXX XXX
Gross Profit $926M $1.1B XXX XXX XXX
Gross Margin 24% 26% XXX XXX XXX
EBITDA $542M $688M XXX XXX XXX
EBITDA Margin 14% 16% XXX XXX XXX
Net Profit $269M $326M XXX XXX XXX
Net Margin 7% 7% XXX XXX XXX
Net Debt $20.0M $10.1M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Hero MotoCorp Stock Performance

As of April 15, 2025, Hero MotoCorp's stock price is INR 3666 (or $43).

Hero MotoCorp has current market cap of INR 733B (or $8.5B), and EV of INR 662B (or $7.7B).

See Hero MotoCorp trading valuation data

Hero MotoCorp Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$7.7B $8.5B XXX XXX XXX XXX $2.71

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Hero MotoCorp Valuation Multiples

As of April 15, 2025, Hero MotoCorp has market cap of $8.5B and EV of $7.7B.

Hero MotoCorp's trades at 1.6x LTM EV/Revenue multiple, and 11.2x LTM EBITDA.

Analysts estimate Hero MotoCorp's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Hero MotoCorp Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $7.7B XXX XXX XXX
EV/Revenue 1.7x XXX XXX XXX
EV/EBITDA 11.2x XXX XXX XXX
P/E 16.6x XXX XXX XXX
P/E/Growth 1.6x XXX XXX XXX
EV/FCF 17.3x XXX XXX XXX

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

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Hero MotoCorp Valuation Multiples

Hero MotoCorp's NTM/LTM revenue growth is 9%

Hero MotoCorp's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Hero MotoCorp'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 Hero MotoCorp's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Hero MotoCorp Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 11% XXX XXX XXX XXX
EBITDA Margin 15% XXX XXX XXX XXX
EBITDA Growth 27% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 24% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 5% XXX XXX XXX XXX
G&A Expenses to Revenue 0% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 20% XXX XXX XXX XXX

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Hero MotoCorp Public Comps

See public comps and valuation multiples for Automakers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Ebusco Holding XXX XXX XXX XXX XXX XXX
Traton XXX XXX XXX XXX XXX XXX
Ashok Leyland XXX XXX XXX XXX XXX XXX
TVS Motor XXX XXX XXX XXX XXX XXX
Bajaj Auto 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.

Hero MotoCorp M&A and Investment Activity

Hero MotoCorp acquired  XXX companies to date.

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

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Latest Acquisitions by Hero MotoCorp

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 Hero MotoCorp

When was Hero MotoCorp founded? Hero MotoCorp was founded in 1984.
Where is Hero MotoCorp headquartered? Hero MotoCorp is headquartered in India.
How many employees does Hero MotoCorp have? As of today, Hero MotoCorp has 9.2K+ employees.
Is Hero MotoCorp publicy listed? Yes, Hero MotoCorp is a public company listed on NSE.
What is the stock symbol of Hero MotoCorp? Hero MotoCorp trades under HEROMOTOCO ticker.
When did Hero MotoCorp go public? Hero MotoCorp went public in 2003.
Who are competitors of Hero MotoCorp? Similar companies to Hero MotoCorp include e.g. Ebusco Holding, Traton, Ashok Leyland, TVS Motor.
What is the current market cap of Hero MotoCorp? Hero MotoCorp's current market cap is $8.5B
What is the current revenue of Hero MotoCorp? Hero MotoCorp's last 12-month revenue is $4.8B.
What is the current EBITDA of Hero MotoCorp? Hero MotoCorp's last 12-month EBITDA is $689M.
What is the current EV/Revenue multiple of Hero MotoCorp? Current revenue multiple of Hero MotoCorp is 1.6x.
What is the current EV/EBITDA multiple of Hero MotoCorp? Current EBITDA multiple of Hero MotoCorp is 11.2x.
What is the current revenue growth of Hero MotoCorp? Hero MotoCorp revenue growth between 2023 and 2024 was 11%.
Is Hero MotoCorp profitable? Yes, Hero MotoCorp is EBITDA-positive (as of the last 12 months).

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