Shoppers Stop Limited (SHOPERSTOP.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

+478.8%

₹2,099.98

vs ₹362.80 price

Levered DCF

₹2,544.26

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.2

Distress zone

Rating

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	-88.11×	540.1×	110.71×	61.26×	-109.43×	-7.58×	-11.87×	67.66×
P/B	10.93×	18.31×	28.37×	34.5×	67.81×	16.9×	25.3×	4.81×
P/S	0.63×	1.27×	1.98×	1.77×	2.04×	1.16×	0.49×	1.23×
EV / EBITDA	8.71×	12.96×	14.78×	12.63×	15.63×	15.34×	6.84×	16.87×
Gross margin	20.0%	41.1%	19.0%	21.2%	11.4%	32.4%	42.1%	41.9%
Operating margin	4.0%	4.7%	6.5%	7.8%	-3.3%	-19.9%	4.5%	2.9%
Net margin	-0.7%	0.2%	1.8%	2.9%	-1.9%	-15.3%	-4.1%	1.8%
Current ratio	0.85×	0.85×	0.81×	0.8×	0.77×	0.8×	0.86×	0.9×
Debt / equity	11.4×	10.32×	9.24×	11.53×	27.86×	17.59×	33.86×	0.09×
Interest coverage	0.7×	0.83×	1.24×	1.49×	-0.41×	-1.56×	0.79×	7.61×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.5%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-5.6%	12.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-12.4%	3.4%	25.6%	56.3%	-61.9%	-223.1%	-213.1%	7.1%
Return on invested capital	3.8%	6.0%	6.7%	8.8%	-1.8%	-12.0%	6.7%	6.7%
Return on assets	-0.6%	0.2%	1.5%	2.5%	-1.2%	-7.6%	-3.5%	2.6%
Free cash flow yield	21.3%	6.2%	4.5%	5.6%	5.3%	-4.3%	23.4%	2.2%
Earnings yield	-1.1%	0.2%	0.9%	1.6%	-0.9%	-13.2%	-8.4%	1.5%
Enterprise value	₹64.8B	₹91.8B	₹113.3B	₹94.7B	₹72.5B	₹41.2B	₹39.4B	₹44.6B
Net debt / EBITDA	4.44×	4.66×	3.62×	3.15×	4.53×	7.8×	3.91×	0.24×
Cash conversion cycle (days)	-1	5	3	-11	-36	-16	-48	-31