Goodyear India Limited (GOODYEAR.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

+13.6%

₹758.58

vs ₹668.05 price

Levered DCF

₹967.33

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.59

Safe zone

Rating

C-

Overall 1 / 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	24.9×	35.01×	27.29×	20.01×	19.84×	15.15×	15.7×	21.14×
P/B	2.53×	3.2×	4.45×	4.06×	2.86×	2.46×	1.52×	2.49×
P/S	0.62×	0.74×	1.01×	0.84×	0.84×	1.16×	0.8×	1.13×
EV / EBITDA	9.61×	13.16×	13.2×	10.25×	9.45×	7.15×	6.93×	9.32×
Gross margin	19.5%	17.0%	18.6%	24.9%	28.2%	33.9%	31.4%	30.5%
Operating margin	3.7%	2.4%	4.7%	5.4%	5.2%	9.4%	5.2%	6.9%
Net margin	2.5%	2.1%	3.7%	4.2%	4.2%	7.6%	5.1%	5.4%
Current ratio	1.43×	1.35×	1.27×	1.28×	1.57×	1.99×	2.67×	2.29×
Debt / equity	0.04×	0.05×	0.01×	-0.03×	-0.01×	0.02×	0.02×	0×
Interest coverage	17.71×	13.21×	28.17×	40.77×	30.39×	49.34×	22.82×	43.89×
Dividend yield	3.6%	1.8%	4.7%	9.4%	11.0%	10.4%	2.6%	1.4%
Payout ratio	89.6%	62.8%	127.7%	187.4%	219.1%	156.9%	40.8%	29.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.1%	9.1%	16.3%	20.3%	14.4%	16.2%	9.7%	11.8%
Return on invested capital	9.9%	6.9%	14.3%	18.1%	12.3%	14.3%	7.2%	9.5%
Return on assets	4.9%	4.4%	8.0%	9.7%	7.5%	9.8%	6.8%	7.7%
Free cash flow yield	6.7%	5.8%	3.4%	0.0%	0.8%	12.1%	0.3%	-0.7%
Earnings yield	4.0%	2.9%	3.7%	5.0%	5.0%	6.6%	6.4%	4.7%
Enterprise value	₹13.2B	₹17.7B	₹24.8B	₹22.9B	₹18.5B	₹17B	₹11.8B	₹18.6B
Net debt / EBITDA	-1.52×	-1.23×	-0.6×	-0.76×	-1.01×	-1.55×	-1.23×	-1.51×
Cash conversion cycle (days)	6	11	18	9	1	-26	14	-2