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NTPC Valuation Multiples

Discover revenue and EBITDA valuation multiples for NTPC and similar public comparables like Chrysos Corp., APA Group, and AGL Energy.

NTPC Overview

About NTPC

NTPC Ltd is an Indian state-owned electric utility company. It is the power producer in India and supplies a significant amount of the nation's total needs. The company generates revenue through the sale of electricity to state-owned Indian power distribution companies from its stations throughout the country. NTPC also brings in a significant amount of revenue through its consultancy wing, which provides project management and supervision, energy trading, oil and gas exploration and coal mining. While the vast majority of its facilities use coal and gas fuel sources, NTPC has also increased its capacity through renewable energy sources, such as hydroelectric, solar, and thermal power, and plans to continue this trend going forward.


Founded

1975

HQ

India
Employees

144.9K+

Website

ntpc.co.in

Sectors

Utilities

Financials

LTM Revenue $21.7B

LTM EBITDA $6.2B

EV

$63.7B

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NTPC Financials

NTPC has a last 12-month revenue (LTM) of $21.7B and a last 12-month EBITDA of $6.2B.

In the most recent fiscal year, NTPC achieved revenue of $22.0B and an EBITDA of $6.9B.

NTPC expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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NTPC P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $21.7B XXX $22.0B XXX XXX XXX
Gross Profit $9.3B XXX $9.5B XXX XXX XXX
Gross Margin 43% XXX 43% XXX XXX XXX
EBITDA $6.2B XXX $6.9B XXX XXX XXX
EBITDA Margin 28% XXX 31% XXX XXX XXX
EBIT $4.3B XXX $4.3B XXX XXX XXX
EBIT Margin 20% XXX 20% XXX XXX XXX
Net Profit $2.5B XXX $2.7B XXX XXX XXX
Net Margin 12% XXX 12% XXX XXX XXX
Net Debt XXX XXX $28.8B XXX XXX XXX

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NTPC Stock Performance

As of May 30, 2025, NTPC's stock price is INR 334 (or $4).

NTPC has current market cap of INR 3.24T (or $38.0B), and EV of INR 5.44T (or $63.7B).

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NTPC Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$63.7B $38.0B XXX XXX XXX XXX $0.26

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NTPC Valuation Multiples

As of May 30, 2025, NTPC has market cap of $38.0B and EV of $63.7B.

NTPC's trades at 2.9x EV/Revenue multiple, and 9.3x EV/EBITDA.

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

NTPC has a P/E ratio of 15.1x.

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NTPC Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $38.0B XXX $38.0B XXX XXX XXX
EV (current) $63.7B XXX $63.7B XXX XXX XXX
EV/Revenue 2.9x XXX 2.9x XXX XXX XXX
EV/EBITDA 10.4x XXX 9.3x XXX XXX XXX
EV/EBIT 14.8x XXX 15.2x XXX XXX XXX
EV/Gross Profit 6.8x XXX n/a XXX XXX XXX
P/E 15.1x XXX 14.2x XXX XXX XXX
EV/FCF 33.2x XXX 58.1x XXX XXX XXX

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NTPC Margins & Growth Rates

NTPC's last 12 month revenue growth is 7%

NTPC's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $36K for the same period.

NTPC's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

NTPC's rule of X is 47% (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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NTPC Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 7% XXX 6% XXX XXX XXX
EBITDA Margin 28% XXX 31% XXX XXX XXX
EBITDA Growth 11% XXX 3% XXX XXX XXX
Rule of 40 39% XXX 39% XXX XXX XXX
Bessemer Rule of X XXX XXX 47% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $36K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a 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 24% XXX XXX XXX

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NTPC Public Comps

See public comps and valuation multiples for Utilities comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
TAQA XXX XXX XXX XXX XXX XXX
New Sources Energy XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
APA Group XXX XXX XXX XXX XXX XXX
Chrysos Corp. XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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NTPC M&A and Investment Activity

NTPC acquired  XXX companies to date.

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

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Latest Acquisitions by NTPC

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 NTPC

When was NTPC founded? NTPC was founded in 1975.
Where is NTPC headquartered? NTPC is headquartered in India.
How many employees does NTPC have? As of today, NTPC has 144.9K+ employees.
Is NTPC publicy listed? Yes, NTPC is a public company listed on BOM.
What is the stock symbol of NTPC? NTPC trades under 532555 ticker.
When did NTPC go public? NTPC went public in 2004.
Who are competitors of NTPC? Similar companies to NTPC include e.g. TAQA, New Sources Energy, AGL Energy, APA Group.
What is the current market cap of NTPC? NTPC's current market cap is $38.0B
What is the current revenue of NTPC? NTPC's last 12 months revenue is $21.7B.
What is the current revenue growth of NTPC? NTPC revenue growth (NTM/LTM) is 7%.
What is the current EV/Revenue multiple of NTPC? Current revenue multiple of NTPC is 2.9x.
Is NTPC profitable? Yes, NTPC is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of NTPC? NTPC's last 12 months EBITDA is $6.2B.
What is NTPC's EBITDA margin? NTPC's last 12 months EBITDA margin is 28%.
What is the current EV/EBITDA multiple of NTPC? Current EBITDA multiple of NTPC is 10.4x.
What is the current FCF of NTPC? NTPC's last 12 months FCF is $1.9B.
What is NTPC's FCF margin? NTPC's last 12 months FCF margin is 9%.
What is the current EV/FCF multiple of NTPC? Current FCF multiple of NTPC is 33.2x.

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