Bright Outdoor Media Limited (BRIGHT.BO) 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

-277.0%

-₹607.10

vs ₹343.05 price

Levered DCF

-₹296.56

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

18.28

Safe zone

Rating

Overall 3 / 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
P/E	32.7×	36.3×	41.09×	22.17×	26.72×	134.62×	75×
P/B	4.24×	4.23×	3×	1.06×	1.89×	4.26×	4.3×
P/S	5.14×	5.46×	4.12×	1.15×	1.37×	6.08×	1.8×
EV / EBITDA	22.72×	24.55×	18.01×	8.56×	15.85×	34.48×	24.59×
Gross margin	25.7%	24.3%	27.7%	20.1%	18.5%	27.8%	11.4%
Operating margin	20.2%	25.7%	20.3%	13.2%	13.0%	18.8%	8.1%
Net margin	15.7%	15.0%	15.0%	7.8%	5.1%	4.5%	2.4%
Current ratio	5.58×	6.58×	3.99×	2.74×	2.18×	2.33×	2.24×
Debt / equity	0×	0×	0.09×	0.34×	1.11×	1.4×	1.53×
Interest coverage	110.14×	163.28×	37.12×	4.18×	2.06×	1.13×	1.39×
Dividend yield	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	4.5%	3.8%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.0%	11.6%	11.0%	7.2%	7.1%	3.2%	5.7%
Return on invested capital	12.3%	15.1%	10.1%	6.7%	6.2%	4.1%	5.7%
Return on assets	10.9%	10.2%	8.6%	4.6%	2.7%	1.1%	1.8%
Free cash flow yield	0.6%	-0.2%	-7.1%	-11.8%	5.1%	2.8%	-2.7%
Earnings yield	3.1%	2.8%	3.7%	6.8%	3.7%	0.7%	1.3%
Enterprise value	₹7.6B	₹6.7B	₹4.2B	₹1.1B	₹1.1B	₹1.9B	₹2B
Net debt / EBITDA	-0.76×	-0.75×	-0.87×	0.23×	5.86×	8.5×	6.27×
Cash conversion cycle (days)	261	372	360	315	535	1,273	354