CyberTech Systems and Software Limited (CYBERTECH.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

+100.4%

₹251.30

vs ₹125.37 price

Levered DCF

₹240.56

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.5

Safe zone

Rating

S-

Overall 5 / 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	10.1×	13.34×	18.84×	13.04×	20.97×	13.82×	5.93×	11.56×
P/B	1.45×	1.88×	1.97×	1.76×	3.44×	2.9×	0.83×	1.42×
P/S	1.3×	1.98×	1.93×	1.61×	3.43×	2.82×	0.7×	1.22×
EV / EBITDA	5.76×	12.36×	10.49×	6.8×	12.37×	11.13×	3.09×	5.99×
Gross margin	17.4%	18.8%	17.0%	30.3%	24.1%	32.1%	36.1%	32.2%
Operating margin	6.4%	11.6%	8.4%	13.6%	15.2%	13.9%	19.5%	11.8%
Net margin	12.8%	14.8%	10.3%	12.3%	16.4%	20.4%	11.7%	10.6%
Current ratio	4.03×	5.09×	5.15×	4.14×	5.52×	3.74×	2.41×	1.4×
Debt / equity	0.04×	0.03×	0.03×	0.01×	0.02×	0.06×	0.05×	0.21×
Interest coverage	16.17×	44.9×	29.88×	46.9×	53.57×	135.98×	76.32×	10.47×
Dividend yield	24.3%	1.3%	1.3%	1.5%	0.6%	0.8%	4.2%	2.8%
Payout ratio	245.5%	17.8%	25.0%	19.6%	12.2%	11.4%	25.1%	32.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.3%	14.1%	10.4%	13.5%	16.4%	21.0%	14.1%	12.3%
Return on invested capital	5.1%	8.0%	5.9%	10.0%	11.1%	13.1%	16.0%	9.1%
Return on assets	10.9%	11.4%	8.5%	10.9%	14.0%	16.8%	10.2%	7.7%
Free cash flow yield	6.3%	7.8%	8.2%	8.9%	5.1%	6.5%	11.8%	10.3%
Earnings yield	9.9%	7.5%	5.3%	7.7%	4.8%	7.2%	16.9%	8.7%
Enterprise value	₹2.6B	₹3.9B	₹4.2B	₹2.7B	₹4.7B	₹3.3B	₹751.5M	₹1.2B
Net debt / EBITDA	-1.13×	-2.37×	-0.3×	-0.31×	-0.09×	-0.15×	-0.13×	0.04×
Cash conversion cycle (days)	9	-16	5	36	42	43	52	51