Bayer CropScience Limited (BAYERCROP.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

+127.5%

₹7,439.73

vs ₹3,270.00 price

Levered DCF

₹16,343.24

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	30.29×	38.08×	33.64×	24.17×	34.61×	48.69×	32.73×	56.04×
P/B	7.04×	7.59×	8.74×	6.76×	8.85×	9.41×	6.04×	10.03×
P/S	3.68×	3.95×	4.88×	3.57×	4.72×	5.63×	4.3×	5.95×
EV / EBITDA	20.17×	30.13×	24.32×	18.93×	26.56×	28.11×	19.94×	36.2×
Gross margin	31.1%	37.6%	42.7%	44.9%	43.5%	42.2%	46.6%	47.2%
Operating margin	13.7%	22.5%	27.8%	26.5%	25.3%	27.5%	29.2%	26.4%
Net margin	12.1%	10.4%	14.5%	14.8%	13.6%	11.6%	13.1%	10.6%
Current ratio	1.92×	2.01×	2.44×	2.19×	2.15×	2.26×	2.65×	2.31×
Debt / equity	0.03×	0.04×	0.02×	0.03×	0.03×	0.01×	0.02×	0×
Interest coverage	39.38×	72.6×	72.55×	61.19×	92.93×	92.94×	76.5×	80.65×
Dividend yield	2.7%	2.6%	2.4%	3.1%	3.0%	2.1%	0.8%	0.3%
Payout ratio	81.7%	98.7%	81.9%	74.0%	104.3%	104.6%	25.9%	18.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	23.2%	19.9%	26.0%	28.0%	25.6%	19.3%	18.4%	17.9%
Return on invested capital	19.8%	32.3%	37.0%	35.6%	33.5%	27.1%	31.5%	29.5%
Return on assets	12.1%	10.8%	16.1%	16.2%	14.8%	11.6%	12.4%	11.6%
Free cash flow yield	5.1%	1.2%	3.6%	2.9%	0.7%	2.7%	4.0%	1.9%
Earnings yield	3.3%	2.6%	3.0%	4.1%	2.9%	2.1%	3.1%	1.8%
Enterprise value	₹195.4B	₹208.4B	₹238B	₹175.4B	₹216.4B	₹228.3B	₹145.1B	₹185.7B
Net debt / EBITDA	-1.38×	-1.14×	-1.13×	-0.85×	-0.85×	-1.45×	-1.4×	-0.64×
Cash conversion cycle (days)	156	199	125	190	173	139	167	139