SBI Life Insurance Company Limited (SBILIFE.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

-76.3%

₹396.36

vs ₹1,673.70 price

Levered DCF

₹7,299.52

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.44

Distress zone

Rating

C+

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	72.13×	64.14×	78.75×	64.05×	74.47×	60.5×	45.08×	45.08×
P/B	9.34×	9.12×	10×	8.46×	9.65×	8.47×	7.33×	7.9×
P/S	1.59×	1.34×	1.14×	1.37×	1.35×	1.07×	1.47×	1.34×
EV / EBITDA	68.96×	59.11×	71.22×	58.66×	67.04×	52.23×	41.81×	39.8×
Gross margin	51.4%	96.7%	97.5%	96.2%	97.4%	97.8%	96.3%	96.9%
Operating margin	2.3%	2.2%	1.5%	2.2%	1.9%	1.9%	3.2%	3.1%
Net margin	2.2%	2.1%	1.4%	2.1%	1.8%	1.8%	3.3%	3.0%
Current ratio	0×	0.32×	0.91×	0.46×	1.51×	1.06×	0.95×	0.91×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	218.07×	212.72×	70.8×	70.97×	72.17×	166.58×	178.97×
Dividend yield	0.2%	0.2%	0.2%	0.4%	0.2%	0.0%	0.3%	0.3%
Payout ratio	11.0%	11.2%	14.3%	26.2%	16.6%	0.0%	14.1%	15.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.9%	14.2%	12.7%	13.2%	13.0%	14.0%	16.3%	17.5%
Return on invested capital	0.5%	0.5%	0.5%	1.6%	1.6%	1.8%	2.3%	2.4%
Return on assets	0.5%	0.5%	0.5%	0.5%	0.6%	0.6%	0.9%	0.9%
Free cash flow yield	19.3%	16.4%	19.5%	37.8%	30.0%	27.0%	30.0%	22.3%
Earnings yield	1.4%	1.6%	1.3%	1.6%	1.3%	1.7%	2.2%	2.2%
Enterprise value	₹1.7T	₹1.5T	₹1.4T	₹1.1T	₹1.1T	₹868.8B	₹631.9B	₹585.9B
Net debt / EBITDA	-1.26×	-0.71×	-2.34×	-0.86×	-0.62×	-0.73×	-0.6×	-0.84×
Cash conversion cycle (days)	0	-287	-287	-245	-286	-298	-275	-423