Quess Corp Limited (QUESS.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

+178.5%

₹899.26

vs ₹322.95 price

Levered DCF

₹1,157.88

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

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	11.41×	104.62×	13.58×	11.91×	19.71×	86.79×	-3.54×	20.67×
P/B	2.17×	4.43×	1.35×	1.04×	1.95×	2.14×	0.67×	1.95×
P/S	0.17×	0.32×	0.28×	0.16×	0.35×	0.46×	0.14×	0.62×
EV / EBITDA	7.72×	43.53×	5.84×	4.86×	8.24×	9.89×	48.38×	10.45×
Gross margin	5.3%	6.1%	6.5%	5.9%	19.0%	7.4%	14.1%	23.2%
Operating margin	1.8%	1.5%	1.3%	1.9%	2.7%	3.4%	4.1%	4.6%
Net margin	1.4%	0.3%	2.0%	1.3%	1.8%	0.5%	-3.9%	3.0%
Current ratio	1.38×	1.34×	1.36×	1.27×	1.3×	1.57×	1.27×	1.37×
Debt / equity	0.11×	0.1×	0.3×	0.39×	0.42×	0.34×	0.65×	0.3×
Interest coverage	5.5×	5.62×	1.45×	2.91×	4.54×	3.25×	2.65×	3.33×
Dividend yield	6.5%	3.1%	1.6%	6.6%	3.4%	0.0%	0.0%	0.0%
Payout ratio	73.8%	324.3%	21.3%	79.0%	67.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	19.0%	4.2%	9.9%	8.7%	9.9%	2.5%	-19.0%	9.4%
Return on invested capital	16.2%	15.1%	3.8%	6.2%	7.1%	4.1%	10.8%	9.0%
Return on assets	7.3%	1.6%	4.4%	3.7%	4.5%	1.2%	-8.1%	5.1%
Free cash flow yield	7.9%	7.9%	11.3%	13.6%	9.9%	13.0%	19.9%	2.0%
Earnings yield	8.8%	1.0%	7.4%	8.4%	5.1%	1.2%	-28.3%	4.8%
Enterprise value	₹24.8B	₹46.7B	₹40.9B	₹32.5B	₹53.8B	₹53.3B	₹22.9B	₹56.3B
Net debt / EBITDA	-0.17×	-1.27×	0.45×	0.86×	0.96×	0.57×	16.12×	0.61×
Cash conversion cycle (days)	37	36	71	55	60	57	57	61