Petronet LNG Limited (PETRONET.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

-6.9%

₹281.75

vs ₹302.65 price

Levered DCF

₹265.48

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	9.53×	11.23×	10.9×	10.32×	8.45×	11.47×	11.08×	16.64×
P/B	1.67×	2.24×	2.29×	2.25×	2.13×	2.85×	2.69×	3.63×
P/S	0.86×	0.87×	0.75×	0.57×	0.67×	1.29×	0.84×	0.97×
EV / EBITDA	5.99×	6.83×	7.83×	7.36×	5.88×	7.74×	7.73×	11.42×
Gross margin	12.2%	13.0%	11.8%	9.9%	14.0%	20.4%	13.9%	10.3%
Operating margin	10.4%	12.0%	10.9%	9.6%	13.6%	19.8%	13.6%	10.0%
Net margin	9.0%	7.8%	6.9%	5.6%	8.0%	11.3%	7.6%	5.8%
Current ratio	5.67×	3.74×	3.1×	4.02×	3.18×	3.93×	2.91×	2.4×
Debt / equity	0.11×	0.13×	0.17×	0.22×	0.25×	0.31×	0.36×	0.07×
Interest coverage	19.05×	23.69×	19.89×	17.35×	18.5×	15.31×	11.92×	38.66×
Dividend yield	4.0%	3.4%	3.8%	5.0%	5.4%	6.7%	6.0%	4.9%
Payout ratio	38.3%	37.8%	41.1%	51.9%	45.8%	76.4%	66.9%	81.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	17.6%	20.0%	21.0%	21.8%	25.2%	24.9%	24.3%	21.8%
Return on invested capital	13.2%	19.2%	19.8%	21.5%	23.4%	22.0%	24.8%	19.4%
Return on assets	14.3%	14.6%	14.3%	14.6%	16.1%	15.4%	14.3%	14.6%
Free cash flow yield	8.1%	6.6%	10.1%	4.4%	11.7%	10.3%	9.4%	5.3%
Earnings yield	10.5%	8.9%	9.2%	9.7%	11.8%	8.7%	9.0%	6.0%
Enterprise value	₹377.5B	₹381.5B	₹410.9B	₹376.1B	₹314.5B	₹365B	₹330.1B	₹376.3B
Net debt / EBITDA	0.08×	-1.15×	0.24×	0.64×	0.45×	0.59×	0.72×	0.15×
Cash conversion cycle (days)	10	12	15	26	22	25	17	12