Housing and Urban Development Corporation Limited (HUDCO.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

+213.3%

₹457.04

vs ₹145.87 price

Levered DCF

-₹2,574.62

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	7.92×	15.26×	19.01×	5.09×	3.82×	5.56×	2.34×	7.76×
P/B	1.45×	2.3×	2.42×	0.56×	0.45×	0.67×	0.32×	0.84×
P/S	2.58×	4×	5.07×	1.22×	0.94×	1.21×	0.53×	1.65×
EV / EBITDA	53.62×	40.73×	39.99×	31.08×	28.64×	30.55×	29.75×	13.76×
Gross margin	27.7%	34.8%	37.5%	36.4%	35.2%	34.5%	35.8%	99.1%
Operating margin	24.9%	35.2%	35.8%	32.3%	33.5%	30.6%	28.8%	89.5%
Net margin	32.6%	26.2%	26.7%	24.0%	24.5%	21.7%	22.6%	21.2%
Current ratio	0×	0×	0.02×	956.6×	0.48×	0.92×	0.19×	65.08×
Debt / equity	6.45×	5.97×	4.45×	4.07×	4.25×	4.62×	4.96×	5.44×
Interest coverage	0×	0.54×	0.57×	0.51×	0.52×	0.47×	0.45×	0×
Dividend yield	3.3%	2.8%	2.3%	8.1%	6.6%	7.1%	5.4%	1.8%
Payout ratio	26.3%	42.5%	43.5%	41.2%	25.4%	39.3%	12.7%	13.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	18.4%	15.1%	12.7%	11.0%	11.9%	12.0%	13.8%	10.8%
Return on invested capital	1.8%	2.0%	2.3%	15.4%	12.1%	24.6%	-195.1%	4.3%
Return on assets	2.4%	2.1%	2.3%	2.1%	2.2%	2.1%	2.2%	1.6%
Free cash flow yield	6.7%	-76.5%	-25.6%	-9.9%	-12.4%	24.5%	-33.8%	-255.3%
Earnings yield	12.6%	6.6%	5.3%	19.7%	26.2%	18.0%	42.7%	12.9%
Enterprise value	₹1.7T	₹1.5T	₹1.1T	₹714.9B	₹674.1B	₹683.1B	₹648.5B	₹686.1B
Net debt / EBITDA	43.74×	29.4×	25.89×	27.31×	25.86×	26.63×	27.91×	11.92×
Cash conversion cycle (days)	0	0	-37	9	-6	-83	-20	-10,944