UTI Asset Management Company Limited (UTIAMC.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

+135.2%

₹1,888.69

vs ₹803.00 price

Levered DCF

₹1,117.36

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

12.31

Safe zone

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	29.75×	18.52×	13.99×	18.63×	23.6×	14.96×	22.24×	17.11×
P/B	2.67×	2.96×	2.44×	2.11×	3.5×	2.27×	2.19×	2.32×
P/S	7.01×	9.41×	9.06×	7.2×	11.27×	9.17×	7.66×	6.78×
EV / EBITDA	17.26×	12.14×	10.28×	12.66×	17.74×	11.4×	15.64×	11.54×
Gross margin	93.1%	70.5%	66.3%	66.3%	66.4%	61.6%	63.5%	68.6%
Operating margin	44.4%	45.1%	37.0%	38.7%	41.3%	31.4%	32.1%	34.8%
Net margin	23.6%	50.6%	64.8%	38.7%	47.8%	61.3%	34.5%	40.1%
Current ratio	2.15×	2.72×	14.97×	3.45×	10.71×	7.35×	5.12×	5.14×
Debt / equity	0.03×	0.03×	0.03×	0.03×	0.03×	0.03×	0.04×	0.01×
Interest coverage	57.57×	48.36×	36.88×	42.79×	46.41×	28.1×	24.24×	124.18×
Dividend yield	5.1%	4.4%	2.6%	3.3%	1.7%	1.2%	1.1%	1.0%
Payout ratio	152.2%	81.8%	36.5%	61.0%	40.3%	18.0%	25.5%	17.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.0%	15.9%	17.4%	11.3%	14.8%	15.2%	9.8%	13.7%
Return on invested capital	11.4%	9.0%	11.6%	8.1%	9.8%	6.0%	6.8%	7.8%
Return on assets	8.0%	12.9%	14.3%	10.5%	13.4%	13.5%	8.6%	11.8%
Free cash flow yield	3.0%	3.4%	1.7%	3.5%	2.5%	2.8%	2.9%	1.9%
Earnings yield	3.4%	5.4%	7.1%	5.4%	4.2%	6.7%	4.5%	5.9%
Enterprise value	₹121.3B	₹134.9B	₹107B	₹80.5B	₹125.4B	₹73.9B	₹60.3B	₹59.5B
Net debt / EBITDA	0.15×	-0.1×	-0.01×	-0.15×	-0.1×	-0.01×	-0.03×	-0.17×
Cash conversion cycle (days)	-62	-33	0	-20	44	81	42	31