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HDFC BANK
PE (Price/Earnings) Ratio

The Current P/E Ratio of HDFC BANK is 18.53.

Share Price ₹932.7Jan 28,2026
Market Cap ₹1,435,059.2 Cr
Earnings-TTM₹77,429.8 CrTTM-Consolidated Results
Price/Earnings18.53xCalculated 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 [ ₹1,435,059.2 Cr] as on Jan 28,2026

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

(=) P/E Ratio [ 18.53x ]

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 18.53 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 18.53x.

- 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 77,429.8018.531,435,059.2
ICICI BANK LTD56,384.9017.35978,029.0
KOTAK MAHINDRA BANK LTD18,688.0021.95410,186.0
AXIS BANK LTD26,351.8015.56410,064.0
INDUSIND BANK LTD-2,033.87-34.5370,225.9
IDBI BANK LTD9,296.0211.53107,148.0
YES BANK LTD3,174.3021.2267,371.4
IDFC FIRST BANK LTD1,437.0449.6571,344.1
THE FEDERAL BANK LTD4,198.4416.6970,091.7
AU SMALL FINANCE BANK LTD2,313.0831.0971,907.7
BANDHAN BANK LTD1,007.3324.5224,696.2

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

Top 10 Industry PeersPE Ratio
Min industry PE -34.53x
Max industry PE 49.65x
Median industry PE 18.53x
Average industry PE 17.60x



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