Bharat Heavy Electricals Intrinsic Value
Bharat Heavy Electricals (BHEL) median intrinsic value is ₹375.68 from 10 valuation models (range ₹121–₹1008), vs current price ₹403.00 — -6.8% downside (Trading Near Calculated Value), margin of safety -7.3%. Read BHEL ex-dividend dates for the complete payout history and dividend yield track record.
BHEL Valuation Methods Summary — DCF, Graham Number & P/E
Bharat Heavy Electricals intrinsic value across 10 models vs current price ₹403.00 — upside/downside and value range per method. For current market price and key ratios, visit Bharat Heavy Electricals stock price NSE.
| Method | Type | Intrinsic Value | Range | Upside/Downside | Details |
|---|---|---|---|---|---|
| P/E Based Valuation | earnings | ₹178.08 | ₹142.46 - ₹213.70 | -55.8% | EPS: ₹14.84, Sector P/E: 12x |
| Book Value Method | asset | ₹375.68 | ₹338.11 - ₹413.25 | -6.8% | Book Value/Share: ₹375.68, P/B: 1.0x |
| Revenue Multiple Method | revenue | ₹577.93 | ₹520.14 - ₹635.72 | +43.4% | Revenue/Share: ₹722.41, P/S: 0.8x |
| EBITDA Multiple Method | earnings | ₹694.14 | ₹624.73 - ₹763.55 | +72.2% | EBITDA: ₹8052.00Cr, EV/EBITDA: 6x |
| Simple DCF (5Y) | dcf | ₹1007.50 | ₹806.00 - ₹1209.00 | +150.0% | CF Growth: 15.0%, Discount: 15% |
| PEG Ratio Method | growth | ₹120.90 | ₹108.81 - ₹132.99 | -70.0% | EPS Growth: 8.0%, Fair P/E: 6.4x |
| Growth Adjusted P/E | growth | ₹122.28 | ₹110.05 - ₹134.51 | -69.7% | Revenue Growth: 6.0%, Adj P/E: 8.2x |
| ROE Based Valuation | profitability | ₹806.00 | ₹725.40 - ₹886.60 | +100.0% | ROE: 19.7%, P/E Multiple: 14x |
| Graham Defensive Method | conservative | ₹354.17 | ₹318.75 - ₹389.59 | -12.1% | EPS: ₹14.84, BVPS: ₹375.68 |
| Dividend Yield Method | dividend | ₹120.90 | ₹108.81 - ₹132.99 | -70.0% | DPS: ₹1.40, Target Yield: 3.5% |
BHEL Intrinsic Value vs Market Price — All Valuation Models
Bharat Heavy Electricals fair value range ₹121–₹1008 vs current market price ₹403.00 across 10 valuation models. Analyse Bharat Heavy Electricals ownership pattern to track promoter, FII and institutional holdings.
BHEL Intrinsic Value Analysis — Undervalued or Overvalued?
Bharat Heavy Electricals median intrinsic value ₹375.68, current price ₹403.00 — Trading Near Calculated Value by 6.8%, margin of safety -7.3%.
What is the intrinsic value of BHEL?
Based on our comprehensive analysis using 10 different valuation methods, the estimated intrinsic value of Bharat Heavy Electricals (BHEL) is ₹375.68 (median value). With the current market price of ₹403.00, this represents a -6.8% variance from our estimated fair value.
The valuation range spans from ₹120.90 to ₹1007.50, indicating ₹120.90 - ₹1007.50.
Is BHEL undervalued or overvalued?
Based on our multi-method analysis, Bharat Heavy Electricals (BHEL) appears to be trading near calculated value by approximately 6.8%.
BHEL Financial Health — Key Ratios vs Industry Benchmarks
Bharat Heavy Electricals financial ratios — ROE, debt-to-equity, profit margins and liquidity vs industry benchmarks and their impact on intrinsic value.
| Financial Metric | Current Value | Industry Benchmark | Assessment | Impact on Valuation |
|---|---|---|---|---|
| Current Ratio | 2.90 | Industry Standard: 2.0+ | Above 2.0 | Measures short-term liquidity capacity |
| Return on Equity | 19.7% | Industry Standard: 15%+ | Above 15% | Measures shareholder return efficiency |
| Operating Margin | 14.0% | Industry Standard: 20%+ | Above 10% | Indicates operational efficiency level |
| Asset Turnover Ratio | 0.66x | Industry Standard: 1.0x+ | Above 0.5x | Measures asset utilization efficiency |
BHEL Cash Flow Quality — Operating & Free Cash Flow
Bharat Heavy Electricals operating cash flow, free cash flow, quality rating and sustainability score by period — key inputs to DCF intrinsic value calculation.
| Period | Operating Cash Flow | Free Cash Flow | Cash Flow Quality | Sustainability Score |
|---|---|---|---|---|
| March 2026 | ₹5,837 Cr | ₹4,320 Cr | Positive Free Cash Flow | 8/10 |
| March 2025 | ₹2,193 Cr | ₹827 Cr | Positive Free Cash Flow | 7/10 |
| March 2024 | ₹-3,713 Cr | ₹-3,713 Cr | Negative Cash Flow | 3/10 |
| March 2023 | ₹-741 Cr | ₹-741 Cr | Negative Cash Flow | 3/10 |
| March 2022 | ₹660 Cr | ₹101 Cr | Positive Free Cash Flow | 7/10 |