City Union Bank Limited (CUB.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

+21.8%

₹254.76

vs ₹209.20 price

Levered DCF

-₹39.97

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.33

Distress zone

Rating

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	10.06×	7.91×	7.65×	7.45×	9.4×	14.57×	14.94×	16.18×
P/B	1.26×	0.95×	0.92×	0.94×	1.09×	1.48×	1.34×	2.28×
P/S	1.69×	1.33×	1.29×	1.26×	1.47×	1.79×	1.46×	2.6×
EV / EBITDA	5.69×	3.95×	4.25×	4.02×	7.39×	8.15×	6.68×	8.71×
Gross margin	44.6%	47.7%	47.7%	53.8%	55.0%	52.2%	48.9%	49.4%
Operating margin	21.1%	21.0%	20.5%	21.3%	20.3%	14.4%	12.0%	21.7%
Net margin	16.8%	16.7%	16.9%	17.0%	15.6%	12.3%	9.8%	16.0%
Current ratio	0.11×	5.14×	0.39×	14.27×	20.81×	15.66×	12.04×	13.33×
Debt / equity	0.54×	0.24×	0.56×	0.63×	0.81×	0.23×	0.39×	0.1×
Interest coverage	0.41×	0.4×	0.39×	0.46×	0.45×	0.3×	0.24×	0.43×
Dividend yield	1.1%	1.2%	1.0%	1.1%	0.5%	0.0%	0.5%	0.2%
Payout ratio	11.1%	9.9%	7.3%	7.9%	4.9%	0.3%	7.8%	3.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.6%	11.9%	12.1%	12.6%	11.5%	10.1%	9.0%	14.1%
Return on invested capital	6.3%	1.4%	1.8%	23.5%	16.7%	16.4%	10.4%	6.1%
Return on assets	1.4%	1.4%	1.4%	1.4%	1.2%	1.1%	1.0%	1.5%
Free cash flow yield	9.5%	-77.5%	3.4%	0.0%	15.2%	9.8%	24.7%	2.8%
Earnings yield	9.9%	12.6%	13.1%	13.4%	10.6%	6.9%	6.7%	6.2%
Enterprise value	₹101.1B	₹59.2B	₹55.5B	₹50.2B	₹79.1B	₹63.6B	₹44.4B	₹85.9B
Net debt / EBITDA	-1.82×	-2.02×	-1.7×	-1.57×	0.72×	-2.91×	-4.02×	-2.49×
Cash conversion cycle (days)	-17	-12	-17	-1,042	-1,148	-12	-775	-6