JBM Auto Limited (JBMA.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

+34.4%

₹656.05

vs ₹488.30 price

Levered DCF

-₹923.92

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.56

Grey 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	55.64×	70.95×	121.68×	61.22×	33.13×	40.53×	9.51×	13.01×
P/B	7.92×	10.61×	18.63×	7.4×	5.77×	2.67×	0.94×	2.57×
P/S	2×	2.62×	4.34×	1.97×	1.62×	1.01×	0.34×	0.58×
EV / EBITDA	21.78×	24.51×	40.3×	22.76×	18.13×	13.05×	5.25×	6.79×
Gross margin	19.7%	31.2%	28.0%	28.2%	27.2%	28.7%	29.2%	28.6%
Operating margin	8.7%	20.6%	17.1%	17.0%	16.6%	16.9%	18.6%	17.9%
Net margin	3.6%	3.7%	3.6%	3.2%	4.9%	2.5%	3.6%	4.4%
Current ratio	1.1×	1.07×	0.93×	0.9×	0.98×	0.82×	0.96×	1.03×
Debt / equity	1.97×	1.95×	1.82×	1.65×	1.55×	1.13×	0.89×	1.26×
Interest coverage	2.53×	4.56×	4.36×	5.42×	7.01×	6.06×	5.67×	7.33×
Dividend yield	0.2%	0.1%	0.1%	0.2%	0.1%	0.4%	1.7%	0.8%
Payout ratio	9.9%	9.5%	8.6%	9.5%	4.5%	16.8%	16.0%	10.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.2%	14.9%	15.3%	12.1%	17.4%	6.6%	9.8%	19.7%
Return on invested capital	8.4%	21.2%	19.9%	16.9%	18.5%	12.4%	16.2%	18.9%
Return on assets	3.0%	3.5%	3.7%	3.5%	4.8%	2.0%	3.4%	6.0%
Free cash flow yield	-5.0%	1.9%	-0.1%	-1.9%	-8.0%	-6.7%	37.0%	2.3%
Earnings yield	1.8%	1.4%	0.8%	1.6%	3.0%	2.5%	10.5%	7.7%
Enterprise value	₹151.2B	₹168.6B	₹238.4B	₹92.9B	₹65.3B	₹28.2B	₹12.6B	₹18.9B
Net debt / EBITDA	4.23×	3.68×	3.53×	4.1×	3.77×	3.84×	2.52×	2.2×
Cash conversion cycle (days)	63	13	74	89	105	53	85	70