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HDFC BANK
PE (Price/Earnings) Ratio

The Current P/E Ratio of HDFC BANK is 18.43.

Share Price ₹927.6Jan 19,2026
Market Cap ₹1,427,075.5 Cr
Earnings-TTM₹77,429.8 CrTTM-Consolidated Results
Price/Earnings18.43xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of HDFC BANK

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of HDFC BANK is calculated as :

Current Market Cap [ ₹1,427,075.5 Cr] as on Jan 19,2026

(/) Earnings [ ₹77,429.8 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 18.43x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for HDFC BANK , the investors are currently willing to pay 18.43 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of HDFC BANK !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of HDFC BANK over the last five years.

Historical PE (Price/Earnings) ratio chart of HDFC BANK


PE Ratio Performance Analysis for HDFC BANK

- HDFC BANK 's latest p/e ratio is 18.43x.

- HDFC BANK 's p/e ratio for fiscal years ending Mar2025 to Mar2021 averaged 20.75x.

- HDFC BANK 's operated at median p/e ratio of 19.76x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, HDFC BANK 's p/e ratio peaked in Mar2021 at 25.86x.

- HDFC BANK 's p/e ratio hit its five-year low in Mar2024 of 17.17x.


How does HDFC BANK 's P/E Ratio benchmark against top 10 peers in Bank - Private Industry?

Peer Comparison (Bank - Private Industry)Earnings-TTM (Cr)PE RatioMarket Cap
HDFC BANK 77,429.8018.431,427,075.5
ICICI BANK LTD56,384.9017.50986,858.0
KOTAK MAHINDRA BANK LTD18,423.6023.03424,374.0
AXIS BANK LTD26,070.5015.57406,035.0
INDUSIND BANK LTD-759.46-97.3773,949.9
IDBI BANK LTD9,296.0211.42106,126.0
YES BANK LTD3,174.3022.5071,418.5
IDFC FIRST BANK LTD1,437.0449.7171,429.6
THE FEDERAL BANK LTD4,198.4416.4068,866.8
AU SMALL FINANCE BANK LTD2,173.8735.0976,287.5
BANDHAN BANK LTD1,228.2218.6822,948.3

Bank - Private Industry Benchmark (Top 10) PE Analysis vs HDFC BANK 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE -97.37x
Max industry PE 49.71x
Median industry PE 18.43x
Average industry PE 11.91x



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