Edelweiss Financial Services Limited (EDELWEISS.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

-129.3%

-₹36.21

vs ₹123.64 price

Levered DCF

₹2,320.35

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.6

Distress zone

Rating

Overall 2 / 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	13.79×	15.28×	14.1×	8.13×	16.46×	12.57×	-0.99×	10.17×
P/B	1.63×	1.4×	1.25×	0.41×	0.47×	0.51×	0.33×	1.32×
P/S	0.69×	0.75×	0.7×	0.38×	0.46×	0.4×	0.24×	0.93×
EV / EBITDA	23.33×	20.28×	45.43×	38.83×	63×	68.6×	-15.06×	28.22×
Gross margin	61.2%	69.1%	66.9%	65.3%	56.2%	54.2%	44.0%	56.3%
Operating margin	11.4%	9.8%	5.2%	5.2%	3.3%	1.7%	-28.7%	15.9%
Net margin	5.0%	4.9%	5.0%	4.6%	2.8%	3.2%	-23.9%	9.1%
Current ratio	0.56×	3.53×	89.11×	1.94×	2.22×	10.39×	4.39×	2.77×
Debt / equity	4.02×	4.07×	4.27×	3.22×	3.48×	4.32×	5.89×	5.98×
Interest coverage	0×	0.32×	0.16×	0.15×	0.08×	0.04×	-0.51×	0.36×
Dividend yield	6.3%	2.2%	2.4%	4.9%	4.2%	0.0%	1.8%	1.5%
Payout ratio	87.1%	34.5%	33.4%	40.0%	69.7%	0.0%	-1.8%	15.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.8%	9.0%	8.8%	5.1%	2.9%	4.0%	-33.4%	13.0%
Return on invested capital	2.3%	1.3%	0.6%	3.1%	0.5%	0.3%	-3.9%	1.7%
Return on assets	1.2%	1.0%	1.0%	0.8%	0.4%	0.6%	-3.8%	1.6%
Free cash flow yield	-12.8%	30.5%	47.3%	58.6%	176.8%	101.7%	593.2%	48.8%
Earnings yield	7.3%	6.5%	7.1%	12.3%	6.1%	8.0%	-101.3%	9.8%
Enterprise value	₹226.5B	₹192.4B	₹256B	₹208.3B	₹238.4B	₹278.2B	₹335B	₹529.2B
Net debt / EBITDA	15.57×	13.77×	34.9×	33.62×	54.79×	60.38×	-14.15×	22.82×
Cash conversion cycle (days)	-91	-221	-201	1,449	-122	4	-18	-59