Howard Hotels Limited (HOWARHO.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

+21.7%

₹22.02

vs ₹18.10 price

Levered DCF

₹4.02

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	66.73×	51.66×	21.6×	21×	-20.01×	-10.25×	-20.25×	-4,252.5×
P/B	1.88×	1.93×	1.86×	1.54×	1.67×	1.55×	1.35×	1.25×
P/S	1.43×	1.37×	1.56×	1.51×	3.6×	9.04×	1.6×	1.44×
EV / EBITDA	13.46×	12.51×	11.38×	9.38×	-294.01×	-19.6×	59.9×	17.49×
Gross margin	49.4%	46.9%	64.0%	69.0%	65.0%	36.6%	52.2%	54.1%
Operating margin	3.8%	5.1%	9.6%	12.3%	-14.5%	-88.0%	-5.0%	0.9%
Net margin	2.1%	2.6%	7.2%	7.2%	-17.9%	-88.0%	-7.9%	-0.0%
Current ratio	1.04×	1.09×	0.96×	0.92×	0.49×	0.24×	0.49×	0.58×
Debt / equity	0.27×	0.4×	0.46×	0.26×	0.26×	0.24×	0.18×	0.17×
Interest coverage	1.7×	1.9×	6.46×	8.55×	-4.67×	-11.18×	-2.54×	0.49×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.8%	3.7%	8.6%	7.4%	-8.3%	-15.1%	-6.7%	-0.0%
Return on invested capital	2.7%	3.6%	5.5%	6.0%	-5.3%	-11.1%	-3.5%	0.2%
Return on assets	1.8%	2.2%	4.9%	4.9%	-5.6%	-10.7%	-5.0%	-0.0%
Free cash flow yield	5.4%	3.5%	-7.1%	3.4%	1.1%	-4.6%	0.1%	3.6%
Earnings yield	1.5%	1.9%	4.6%	4.8%	-5.0%	-9.7%	-4.9%	-0.0%
Enterprise value	₹236M	₹247M	₹238.6M	₹174.3M	₹178.2M	₹178.5M	₹170.2M	₹167M
Net debt / EBITDA	0.76×	1.31×	1.62×	1.04×	-38.2×	-2.58×	5.33×	1.46×
Cash conversion cycle (days)	2	8	-21	-15	-94	1	2	11