Procter & Gamble Health Limited (PGHL.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

+96.5%

₹11,449.66

vs ₹5,827.50 price

Levered DCF

₹9,873.47

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	24.37×	34.11×	42.22×	38.08×	36.13×	52.1×	40.78×	50.23×
P/B	15.19×	15.94×	15.76×	11.62×	11.28×	13.09×	7.46×	3.32×
P/S	5.66×	7.02×	7.37×	7.09×	6.24×	9.13×	7.61×	6.02×
EV / EBITDA	16.43×	22.93×	26.9×	25.62×	24.62×	35.4×	29.37×	25.61×
Gross margin	56.6%	71.4%	70.2%	68.8%	68.3%	67.8%	63.9%	67.6%
Operating margin	30.8%	52.0%	46.6%	45.5%	42.8%	43.4%	35.3%	37.1%
Net margin	23.2%	20.6%	17.5%	18.7%	17.3%	17.5%	18.7%	98.8%
Current ratio	2.18×	2.44×	2.39×	2.62×	2.6×	3.04×	4.21×	7.83×
Debt / equity	0.02×	0.01×	0.02×	0.02×	0×	0.01×	0×	0×
Interest coverage	787.4×	1,104.43×	745.39×	726.51×	1,136.12×	547.11×	0×	0×
Dividend yield	4.3%	2.7%	4.9%	1.1%	4.1%	4.1%	13.1%	0.5%
Payout ratio	104.1%	92.5%	206.5%	40.9%	147.4%	215.9%	532.4%	3.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	62.3%	46.8%	37.3%	30.6%	31.2%	25.1%	18.3%	54.5%
Return on invested capital	53.3%	81.8%	68.3%	49.4%	54.9%	40.4%	25.0%	13.2%
Return on assets	38.9%	31.6%	25.3%	20.8%	21.5%	17.9%	14.1%	47.7%
Free cash flow yield	4.0%	2.0%	2.4%	2.2%	1.9%	2.1%	4.0%	-3.1%
Earnings yield	4.1%	2.9%	2.4%	2.6%	2.8%	1.9%	2.5%	16.4%
Enterprise value	₹77.9B	₹83.8B	₹82.5B	₹83B	₹66.4B	₹87.6B	₹61.2B	₹38.7B
Net debt / EBITDA	-0.37×	-0.5×	-0.77×	-1.31×	-1.17×	-1.85×	-3.07×	-8.17×
Cash conversion cycle (days)	10	-21	-30	-63	-28	8	55	68