ABB India Limited (ABB.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-45.5%

₹3,585.08

vs ₹6,577.50 price

Levered DCF

₹2,618.79

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

14.98

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	65.67×	78.14×	79.49×	55.94×	91.06×	117.22×	90.13×	99.92×
P/B	13.98×	20.7×	16.69×	11.51×	11.7×	7.12×	7.74×	6.34×
P/S	8.3×	12.12×	9.57×	6.69×	6.9×	4.46×	3.77×	3.84×
EV / EBITDA	45.12×	54.79×	54.93×	36.34×	55.8×	54.12×	45.95×	41.02×
Gross margin	30.5%	37.9%	32.9%	31.5%	29.5%	29.6%	29.6%	28.9%
Operating margin	14.4%	18.3%	13.6%	11.5%	7.7%	4.8%	7.5%	7.5%
Net margin	12.6%	15.5%	12.0%	12.0%	7.6%	3.8%	4.2%	7.7%
Current ratio	2.05×	2.04×	1.9×	1.82×	1.66×	1.55×	1.55×	1.5×
Debt / equity	0.01×	0.01×	0.01×	0.01×	0.01×	0.02×	0×	0×
Interest coverage	95.4×	134.36×	111.68×	63.41×	29.14×	9.86×	19.11×	8.25×
Dividend yield	0.8%	0.5%	0.2%	0.2%	0.2%	0.4%	0.5%	0.4%
Payout ratio	54.9%	38.8%	18.8%	10.8%	20.4%	46.4%	40.4%	22.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.3%	26.5%	20.9%	20.6%	12.8%	6.1%	8.6%	12.7%
Return on invested capital	17.9%	23.1%	17.7%	14.8%	9.5%	6.8%	11.0%	8.4%
Return on assets	12.2%	15.1%	11.3%	10.9%	6.4%	2.9%	3.9%	5.6%
Free cash flow yield	1.2%	0.8%	1.2%	1.0%	1.0%	0.8%	1.9%	1.5%
Earnings yield	1.5%	1.3%	1.3%	1.8%	1.1%	0.9%	1.1%	2.0%
Enterprise value	₹1.1T	₹1.5T	₹983.9B	₹537.4B	₹466.5B	₹235.4B	₹256.5B	₹239.4B
Net debt / EBITDA	-0.61×	-0.33×	-0.46×	-2.11×	-0.82×	-4.93×	-2.83×	-2.51×
Cash conversion cycle (days)	32	21	13	33	50	94	88	40