Procter & Gamble Hygiene and Health Care Limited (PGHH.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

+93.3%

₹13,659.98

vs ₹7,065.00 price

Levered DCF

₹11,665.27

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

17.27

Safe zone

Rating

A-

Overall 4 / 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	36.94×	51.96×	80.46×	68.57×	75.37×	66.27×	76.09×	83.42×
P/B	42×	59.85×	70.09×	49.15×	58.84×	60.48×	28.46×	38.46×
P/S	7.39×	9.8×	12.96×	11.91×	11.44×	12.1×	10.99×	11.88×
EV / EBITDA	25.95×	36.02×	52.55×	50.09×	50.08×	46.07×	49.51×	51.98×
Gross margin	57.8%	56.6%	56.1%	51.8%	53.5%	62.8%	57.5%	52.4%
Operating margin	26.5%	24.9%	22.6%	21.1%	20.9%	24.0%	19.8%	19.6%
Net margin	20.0%	18.9%	16.1%	17.4%	15.2%	18.3%	14.4%	14.2%
Current ratio	1.22×	1.23×	1.22×	1.38×	1.32×	1.34×	2.23×	1.7×
Debt / equity	0×	0×	0×	0×	0.01×	0×	0×	0×
Interest coverage	119.96×	4,661.78×	35.14×	72.45×	71×	140.41×	98.01×	105.07×
Dividend yield	2.7%	1.5%	1.6%	1.0%	1.3%	2.6%	0.6%	0.9%
Payout ratio	98.5%	78.4%	127.4%	69.4%	98.7%	169.3%	43.4%	74.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	113.7%	115.2%	87.1%	71.7%	78.1%	91.3%	37.4%	46.1%
Return on invested capital	95.8%	96.5%	77.4%	63.1%	70.0%	80.3%	35.1%	40.1%
Return on assets	47.5%	48.4%	36.3%	31.7%	34.2%	39.9%	23.7%	25.7%
Free cash flow yield	2.8%	1.3%	0.8%	1.7%	1.2%	1.9%	1.3%	1.1%
Earnings yield	2.7%	1.9%	1.2%	1.5%	1.3%	1.5%	1.3%	1.2%
Enterprise value	₹310.7B	₹436.3B	₹537.4B	₹455.4B	₹427.8B	₹425.5B	₹320.7B	₹344.4B
Net debt / EBITDA	-0.47×	-0.39×	-0.56×	-1.06×	-0.73×	-0.7×	-1.36×	-0.79×
Cash conversion cycle (days)	-109	-85	-95	-122	-92	-121	-73	-52