New Delhi Television Limited (NDTV.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

-476.9%

-₹232.40

vs ₹61.66 price

Levered DCF

-₹313.06

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-0.11

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	-1.61×	-4.31×	-89.42×	31.95×	23.09×	5.13×	8.51×	29.06×
P/B	4.05×	15.87×	6.99×	5.56×	7.91×	3.02×	2.34×	4.53×
P/S	0.98×	2×	4.88×	4.03×	4.65×	1.28×	0.56×	0.75×
EV / EBITDA	-2.92×	-7.05×	-305×	18.77×	15.14×	4.26×	4.12×	6.51×
Gross margin	10.7%	22.2%	66.6%	73.0%	79.0%	48.0%	76.1%	77.3%
Operating margin	-56.1%	-38.4%	-9.6%	11.0%	21.3%	19.7%	11.5%	8.4%
Net margin	-61.1%	-46.5%	-5.5%	12.6%	20.1%	19.8%	6.5%	2.6%
Current ratio	0.99×	1.04×	1.22×	1.56×	1.27×	0.91×	1.06×	1×
Debt / equity	2.01×	5.76×	0.44×	0.03×	0.09×	0.49×	1.37×	2.4×
Interest coverage	-9.61×	-8.76×	-7.75×	14.84×	8.27×	3.03×	2.07×	1.32×
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	-251.5%	-367.9%	-7.8%	17.4%	34.3%	46.7%	27.5%	15.6%
Return on invested capital	-72.1%	-42.9%	-8.6%	10.8%	25.4%	22.5%	14.1%	7.3%
Return on assets	-45.8%	-33.6%	-3.4%	10.5%	16.7%	15.6%	4.9%	2.1%
Free cash flow yield	-58.3%	-24.0%	-5.8%	-1.5%	8.0%	7.3%	4.7%	6.0%
Earnings yield	-62.2%	-23.2%	-1.1%	3.1%	4.3%	15.5%	11.7%	3.4%
Enterprise value	₹7.6B	₹12.6B	₹19.1B	₹15.5B	₹18.6B	₹5.2B	₹3B	₹4.5B
Net debt / EBITDA	-0.93×	-1.84×	-15.87×	-0.04×	0.15×	0.54×	1.27×	2.16×
Cash conversion cycle (days)	65	-8	-87	-132	-129	-94	-546	-510