Spandana Sphoorty Financial Valuation Multiples

Capital One Financial is a diversified financial services holding company headquartered in McLean, Virginia. Originally a spinoff of Signet Financial’s credit card division in 1994, the company is now primarily involved in credit card lending, auto loans, and commercial lending. Following the acquisition of Discover in 2025, the firm also has a modest personal loan business, though credit card lending provides the majority of the bank's revenue.

Bajaj Finserv Ltd is a non-banking financial services company headquartered in India that engages in lending activities. It services six lending verticals: consumer, small and midsize enterprises, commercial, rural, deposits, and partnerships and services. Bajaj’s consumer and rural lending consists of funding solutions for consumer durables, such as vehicles and furniture, to personal loans. The commercial lending activities consist of funding for plant and machinery assets and term loans to SMEs. Its business segments include: Life Insurance, General Insurance, Windpower, Retail Finance, and Investment and Others. It derives maximum revenue from the Retail Finance segment. Geographically, the company derives all of its revenue from its operations in India.

Synchrony Financial, originally a spinoff of GE Capital's retail financing business, is the largest provider of private-label credit cards in the United States by both outstanding receivables and purchasing volume. Synchrony partners with other firms to market its credit products in their physical stores as well as on their websites and mobile applications. Synchrony operates through three segments: retail card (private-label and co-branded general-purpose credit cards), payment solutions (promotional financing for large ticket purchases), and CareCredit (financing for elective healthcare procedures).

Shriram Finance Ltd is an Indian non-banking finance company. It is engaged in the financing of pre-owned commercial vehicles, equipment, and other loans. The company focuses on loan origination, valuation, and collection for pre-owned and new commercial and passenger vehicles, tractors, 3-wheelers, multi-utility vehicles, and also provides ancillary services such as finance for working capital, engine replacement, bill discounting, credit cards, and tire-loans as holistic financing support. The company's revenue consists of interest income on loans provided. Geographically, it derives maximum revenue from India.

Eurobank SA operates as a universal bank offering a comprehensive suite of financial services. It provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg. The company offers current accounts, savings, deposits and investment savings products, credit and debit cards, consumer loans, small business banking, and mortgages, overdrafts, loans and other credit facilities, and Others services. It also provides custody and clearing services, cash management and trade service, and investment banking services. The operating segments of the company are: Retail, Corporate, Markets, Investment Property, RSS, and International. Geographically, the Group is active in Greece, Cyprus, Bulgaria and Luxembourg.

Jio Financial Services Ltd is a core investment company, non-deposit taking, systemically important (CIC-ND-SI). Along with its subsidiaries, joint ventures, and associates, it is engaged in the business of Investing and Financing, mainly Leasing, Insurance broking, Payment Bank, Payment Aggregator, and Payment Gateway services.

Cholamandalam Investment and Finance Co Ltd serves as the financial services arm of the Murugappa Group. Its subsidiaries include Cholamandalam Securities Limited (CSEC) and Cholamandalam Home Finance Limited (CHFL). The company's operating segments include; Vehicle finance loans its key revenue generating segment, which provides loans for the purchase of vehicles, tractors, and construction equipment; the Home Loans segment includes loans given for the acquisition of residential property; Loan against property includes loans to the customer against immovable property; and Other loans represents loans against shares and SME loans. The company operates solely in India.

Tata Capital Ltd is a Non-banking Finance company. The company is engaged in lending and investing activities. The company is engaged in providing and supplying different services and products in the financial services sector and operates across various areas of business: Commercial Finance, Consumer Loans, Wealth Services and distribution and marketing of Tata Cards.

Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending, with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.

Muthoot Finance Ltd is a non-deposit-taking, non-banking financial company with thousands of branches in India. The company's main business is providing personal and business loans to individuals who do not have access to formal credit. The loans are typically secured by gold jewelry. The company also offers some microfinance loans and housing loans to customer segments and areas that are underserved by banks. Interest income accounts for nearly all the company's revenue. It has operations in Sri Lanka and India, with India providing almost all the company's revenue.

BDO Unibank Inc is a full-service universal bank in the Philippines. The company's operating segment consists of Commercial banking, Investment banking, Private banking, Leasing and financing, Insurance, and Others. The company generates the majority of its revenue from the Commercial Banking segment, which handles the entire lending (corporate and consumer), trade financing and cash management services for corporate and retail customers. Geographically, the majority of its revenue is derived from the Philippines.

FirstCash Holdings Inc is an operator of pawn stores in the U.S., Latin America and the U.K. The company's primary line of business is the operation of retail pawn stores, also known as pawnshops. It also operates a retail POS payment solutions business. Its two business lines are organized into four reportable segments: The U.S. pawn segment consists of pawn operations in some of U.S. states and the District of Columbia; The Latin America pawn segment consists of pawn operations in Mexico, Guatemala, El Salvador and Colombia; The U.K. pawn segment consists of pawn operations in England, Scotland and Wales; and The retail POS payment solutions segment consists of the operations of American First Finance, LLC, which offers products in the U.S.

AU Small Finance Bank Ltd is engaged in the activities of providing financial services such as personal banking, insurance, retail loans and wholesale banking. The company operates in the business segment namely, Treasury; Retail banking; Wholesale banking; and Other banking operations. It generates maximum revenue from Retail banking segment. The retail banking segment serves retail customers through a branch network and other delivery channels. Revenues of the retail banking segment are derived from interest earned on retail loans, fees from services rendered, and others. Geographically, it operates only in India.

Bajaj Housing Finance Ltd is a non-deposit-taking Housing Finance Company. The company offers financial solutions tailored to individuals and corporate entities for the purchase and renovation of homes and commercial spaces. The mortgage product suite of the company is comprehensive and comprises home loans, loans against property (LAP), lease rental discounting, and developer financing. The company's emphasis is on individual retail housing loans, complemented by a diversified collection of lease rental discounting and developer loans.

Non-banking finance company of the Larsen & Toubro group. It lends to rural households, farm equipment buyers, two-wheeler buyers, small businesses, and for housing and infrastructure projects. Headquartered in Mumbai.

OneMain Holdings Inc is a consumer finance company providing loan products to customers through its branch network and the internet. The company provides personal loan products; offers credit cards; offers optional credit insurance and others; offers a customer-focused financial wellness program, and acquisitions and dispositions of assets and businesses. It provides origination, underwriting, and servicing of personal loans to non-prime customers. The company operates in single reportable segment Consumer and Insurance which originates and services personal loans and auto finance loans, offer credit cards, and provide optional credit and non-credit insurance and other optional products through its branch and central operations, as well as digital platform.

Private sector bank offering retail banking, credit cards, microfinance, commercial and corporate banking and treasury services. Credit cards and retail loans are a major growth area. Headquartered in Mumbai.

SBI Cards and Payment Services Ltd is a credit card issuer in India. The company offers a credit card portfolio to individual cardholders and corporate clients, including lifestyle, rewards, travel and fuel, shopping, banking partnership cards, and corporate cards covering all cardholder segments in terms of income profiles and lifestyles. It offers four primary SBI Card-branded credit cards SimplySave, SimplyClick, Prime, and Elite, each catering to a varying set of cardholder needs. The company earns revenue from selling credit card memberships to card holders, and income earned from the provision of membership services.

Klarna is the largest pure-play in the buy now, pay later space. The company operates a two-sided network with a payment method at its core, but it is ultimately a lender. Merchants sign up with Klarna to increase turnover in their stores. Primarily, Klarna can provide merchants with higher conversion rates and average order values relative to other payment methods. Some merchants enter a symbiotic relationship with Klarna, advertising its brand on the product page to drive conversion and to benefit from Klarna’s brand value in the merchant’s sales funnel. Customers use Klarna for its ease of use, quick access to credit, zero-interest financing, and lower reminder fees.

Credit Acceptance Corp is a consumer finance company that specializes in automobile loans. These loans are offered through a U.S. nationwide network of automobile dealers that benefit from sales of vehicles to consumers who could otherwise not obtain financing. The company also benefits from repeat and referral sales, and from sales to customers responding to advertisements for financing, but qualify for traditional financing. The company derives its revenue from finance charges, premiums earned on the reinsurance of vehicle service contracts, and other fees. Of these, financing charges, including servicing fees, are by far a source of revenue.

Bank of Qingdao Co Ltd is engaged in the banking business. Its main segments include corporate banking, retail banking, and financial market business. The corporate banking segment offers financial products and services to corporations, government agencies, and financial institutions. The retail banking segments comprise personal loans and deposit services, whereas the financial market business covers inter-bank money market transactions, repurchases transactions, investments in debt securities, and non-standardised debt investments, and others. It generates the majority of its revenue from the corporate business segment.

Sundaram Finance Ltd is a nonbanking finance company operating in India. The company provides various financial products and services, including commercial vehicle finance, car finance, farm equipment finance, construction equipment finance, and fleet cards. Through its subsidiaries, the company has a diversified presence in insurance, mutual funds, housing finance, business process outsourcing, information technology services, and retail distribution of various financial services and products. The company's business segments include Asset Financing, which derives key revenue, and Other operations.

Sezzle Inc is a financing institution that offers technology-driven payment platform. The Sezzle Platform offers a payments solution for consumers in the United States and Canada that has the ability to instantly extend credit at the point-of-sale, allowing consumers to purchase and receive merchandise while paying in installments over time. Consumers pay a portion of the purchase price at the point-of-sale as a down payment, and then pay off the remaining amount over time through scheduled payments. It also offer the ability to pay-in-full using the Sezzle Platform. Its operations comprise one reportable segment, the majority of which derives revenue from payment processing platform in North America.

Enova International Inc provides online financial services, including short-term consumer loans, line of credit accounts, and installment loans to customers mainly in the United States and Brazil. Consumers apply for credit online, the company's technology platforms process the applications, and transactions are completed quickly and efficiently. Its customers are predominantly retail consumers and small businesses. Enova markets its financing products under the names CashNetUSA, NetCredit, OnDeck, Headway Capital, and Simplic. The company also operates a money transfer platform under the name Pangea. Geographically, the company generates a majority of its revenue from its business in the United States and the rest from other international countries.

Formed by a combination of JCPenney’s credit card processing unit and The Limited’s credit card bank business, Bread Financial is a provider of private-label and co-branded credit cards, loyalty programs, and marketing services. The company’s most financially significant unit is its credit card business that partners with retailers to jointly market Bread’s credit cards to their customers. The company also retains a minority interest in spun-off LoyaltyOne, which operates the largest airline miles loyalty program in Canada and offers marketing services to grocery chains in Europe and Asia.

Mahindra & Mahindra Financial Services Ltd is a nonbanking financial company engaged in financing new and pre-owned auto, utility vehicles, tractors, passenger cars and commercial vehicles through its pan India branch network. The company has a diversified lending portfolio across retail, small and medium enterprises and commercial customers with a presence in rural and semi-urban India. The company has two segments : Financing Activities, that includes financing and leasing of automobiles, tractors, commercial vehicles, SMEs and housing finance.; and Other reconciling items which consists insurance broking, asset management services and trusteeship services. It derives maximum revenue from Financing Activities.

Credit Saison Co Ltd is a Japan-based financial services company. The company operates its business through six segments. The Entertainment segment runs amusement parks. The Finance segment covers credit guarantees and related services. The Global segment engages in lending and investments. The Leasing segment focuses on office equipment. The Payment segment centers on credit cards and related services, and the Real Estate segment includes property development and leasing activities. It generates the majority of its revenue from the Payment business segment.

SLM Corp is an education solutions company. Its business is to originate and service loans to students and their families to finance the cost of their education. The term' Private Education Loans to mean education loans to students or their families that are not made, insured, or guaranteed by any state or federal government.

Samsung Card Co Ltd is a specialized credit finance company. The company provides credit card service, lease service, loan service, financial product sales service and on-line shopping service in Korea. Its business operations are divided into three segments: Card Business, Installment Business, and Other. The company utilizes the strong brand recognition of doing business. Also, the company is working on a platform business that utilizes open innovation and big data with various heterogeneous industries.

Gentera is a Mexican financial-services group focused on customers and microentrepreneurs underserved by traditional banks. Through Compartamos Banco, Compartamos Banco Perú, ConCrédito, Yastás and Aterna, it provides working-capital and consumer loans, savings accounts, insurance distribution, payment services and banking correspondents in Mexico and Peru. Gentera is listed on the Mexican Stock Exchange and traces its operating history to a microfinance program launched in 1990.

BNK Financial Group Inc is a Korea-based company engaged in providing various financial products and services. It offers Internet banking services covering deposits, inquiry, and transfers; financial products; Internet-based products; apartment-application deposits; fund products; variable annuities; and asset management services. It also provides investment brokerage, credit finance, and mutual savings banking services. In addition, it also provides credit check, and certificate issuing services, as well as financial IT service.

Non-banking finance company best known for gold loans, with a large branch network across India. Other lines include microfinance through Asirvad, vehicle and housing loans, and money transfer services. Headquartered in Thrissur, Kerala.

PNB Housing Finance Ltd is an India-based housing finance company. It is engaged in the business of providing loans for the purchase, construction, repairs, and renovations of houses, flats, and commercial properties. The company also provides loans for commercial space, loans against property, and loans for the purchase of residential plots. Geographically, it operates only in India. It generates revenue in the form of Interest income, and Fees and commission income.

LIC Housing Finance Ltd is a housing finance company that provides loans in India. Its main objective is to provides long-term finance to individuals for the purchase or construction of houses/flats for residential purposes. also provides finance on existing property for business/ personal needs and also gives loans to professionals for the purchase/ construction of clinics, nursing homes, diagnostic centres, office spaces, and equipment. The company also provides finance to builders and developers engaged in the business of construction of houses or flats for residential purposes and to be sold by them.

North Pacific Bank Ltd is engaged in the provision of banking products and services. The firm offers time deposits, reserve deposits, government/ public bonds, asset management support services, smartphone-based services, including real-time updates on account balances and transactions, including deposits and withdrawals, along with cashless payment based on QR codes. Its other services include ATM service, Smartphone app, Foreign exchange services, SMS delivery service, Email distribution service, Hokku Electronic Delivery Service, and Remote interview system.

Krungthai Card PCL engaged in credit cards, personal loans and other related businesses. The Company provides services such as Credit Cards, Personal Loans, KTC Brother Boom Money, MAAI by KTC, Shop business and many. The company operations relate to a single business segment which is the financial services business and are carried out in a single geographic area which is Thailand.

Non-banking finance company focused on gold loans, home loans and loans to small businesses. It lends mainly to retail and small-business customers through a large branch network across India. Headquartered in Mumbai.

Capri Global Capital Ltd provides financial services. The company is engaged in providing loans to Micro, Small and Medium Enterprises (MSMEs), providing long term finance for the construction of residential houses, retail lending, gold loan, and ancillary services. It generates maximum revenue from the interest income. Geographically, it operates only in India.

Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. The company support development of different lending product offerings, which are grouped into three operating segments - Personal Lending (unsecured personal loans and small dollar loans), Auto Lending (auto refinance, auto retail loans, and auto secured personal loans), and Other (HELOCs and other).

Affordable housing finance company serving low and middle income and self-employed home buyers with home and home improvement loans. Branches mainly in tier 2 and 3 cities. Headquartered in Mumbai.

San-in Godo Bank Ltd is a Japanese bank group that operates in the San-in region of western Honshu. It also has a presence in the neighboring Sanyo region and the Hyogo prefecture. The group has two reportable service segments: banking and leasing. Banking constitutes a majority of the group's activities and consists of a deposit, loan, securities investment, and exchange business. The group also engages in a credit guarantee business. Loans and bills discounted and securities constitute a majority of the bank's earning assets.

Stanbic IBTC Holdings PLC provides banking services. The company's operating segments include Personal & Private Banking (PPB), Business & Commercial Banking (BCB), Insurance & Asset Management (IAM), and Corporate & Investment Banking (CIB). It generates a majority of its revenue from the Corporate and Investment Banking segment, which serves companies, governments, parastatals, and institutional clients across Africa and internationally.

Shawbrook Group PLC is a specialist savings and lending bank operating in the United Kingdom. It focuses mostly on poorly served customer segments across the small to medium-size enterprise and retail market of the island nation. Shawbrook's primary markets include property, business, and consumer finance. The company has grown since its founding through mostly acquisitions. Net operating income mostly derives from asset finance, commercial mortgages, and secured lending. Shawbrook emphasizes customer service, and reputation. The company operates in four segments Real Estate, SME, Consumer Finance and Retail Mortgage Brands.

EZCORP Inc is a United States-based company engaged in offering pawn loans in the United States and Mexico. It also offers short-term unsecured loans and other consumer financial products, and buys and sells second-hand goods. The operating segments of the company are U.S. Pawn, Latin America Pawn, and Other Investments. The U.S. Pawn segment includes all pawn activities in the United States. The Latin America Pawn segment includes all pawn activities in Mexico and other parts of Latin America. The company generates revenue from merchandise sales, jewelry scrapping sales, and pawn service charges, of which key revenue is derived from the merchandise sales, which are mainly collateral forfeited from pawn lending operations and used merchandise purchased from the customers.

CreditAccess Grameen Ltd provides financial and non-financial products and services. The company is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. The only operating segment of the company is lending to members. Geographically, it operates only in India. The company's financial product includes Income generation loans, Home improvement loans, Emergency loans, Family welfare loans, Gruha Vikas loans, Grameen Swarna loans, Grameen Vikas loans, Life insurance, and others.

Zip is a credit provider operating two segments: Australia and New Zealand, and the US. Founded in Australia in 2013, it has over 6 million active customers and partners with over 85,000 merchants. In Australia, Zip positions itself as a credit card alternative, with several revolving credit products. Customers can carry the balance over time with a monthly fee and set their own repayment schedule. The US and New Zealand offering is a far more vanilla BNPL offering: Pay-in-4 in New Zealand and Pay-in-Z in the US, where customers pay back in fixed instalments. The US segment is built on the 2020 acquisition of QuadPay and has recently become Zip’s largest and fastest-growing segment.

Mortgage-focused non-banking finance company, formerly Indiabulls Housing Finance. It offers home loans, loans against property and loans to developers and small businesses.

Nationwide Building Society is a United Kingdom mutual financial institution headquartered in Swindon, England. It traces its origins to 1884, when it was founded as the Co-operative Permanent Building Society, and it operates entirely for the benefit of its members, without shareholders. It offers current accounts, savings, mortgages, personal loans, credit cards, investments and insurance through 605 branches and digital channels. It had more than 16 million members in 2024 and grew to more than 24.5 million customers after acquiring Virgin Money in October 2024. Total assets were GBP 382.3 billion in 2026, and it employed about 18,000 people. It describes itself as the largest building society in the world.