NTPC Valuation Multiples

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

Employees

22.4K

Website

ntpc.co.in

Sectors

Energy ProductionUtilities

Financials (LTM)

Revenue: $21B

EBITDA: $6B

EV

$65B

Valuation Multiples

Multiples.vc

Start free trial

NTPC Financials

NTPC reported last 12-month revenue of $21B and EBITDA of $6B.

In the same LTM period, NTPC generated $9B in gross profit, $6B in EBITDA, and $2B in net income.

NTPC P&L

In the most recent fiscal year, NTPC reported revenue of $22B and EBITDA of $6B.

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

NTPC Stock Performance

NTPC has current market cap of $41B, and enterprise value of $65B.

NTPC's stock price is $4.25.

NTPC Valuation Multiples

NTPC trades at 3.2x EV/Revenue multiple, and 10.6x EV/EBITDA.

NTPC Financial Valuation Multiples

As of April 20, 2026, NTPC has market cap of $41B and EV of $65B.

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 16.5x.

NTPC Margins & Growth Rates

NTPC's revenue in the last 12 month grew by 9%.

NTPC's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.2M for the same period.

NTPC's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

NTPC's rule of X is 50% (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).

NTPC Public Comps

See public comps and valuation multiples for other Energy Production and Utilities comps.

NTPC M&A Activity

NTPC acquired XXX companies to date.

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

NTPC Investment Activity

NTPC invested in XXX companies to date.

NTPC made its latest investment on XXXXXXXX, XXXXX. NTPC invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).