Thermax Intrinsic Value
THERMAX Valuation Methods Summary
| Method | Type | Intrinsic Value | Range | Upside/Downside | Details |
|---|---|---|---|---|---|
| P/E Based Valuation | earnings | ₹930.54 | ₹744.43 - ₹1116.65 | -70.0% | EPS: ₹42.48, Sector P/E: 12x |
| Book Value Method | asset | ₹2149.13 | ₹1934.22 - ₹2364.04 | -30.7% | Book Value/Share: ₹2149.13, P/B: 1.0x |
| Revenue Multiple Method | revenue | ₹3560.35 | ₹3204.32 - ₹3916.39 | +14.8% | Revenue/Share: ₹4450.43, P/S: 0.8x |
| EBITDA Multiple Method | earnings | ₹2681.74 | ₹2413.57 - ₹2949.91 | -13.5% | EBITDA: ₹1028.00Cr, EV/EBITDA: 6x |
| Simple DCF (5Y) | dcf | ₹4707.44 | ₹3765.95 - ₹5648.93 | +51.8% | CF Growth: 7.9%, Discount: 15% |
| PEG Ratio Method | growth | ₹930.54 | ₹837.49 - ₹1023.59 | -70.0% | EPS Growth: 8.0%, Fair P/E: 6.4x |
| Growth Adjusted P/E | growth | ₹930.54 | ₹837.49 - ₹1023.59 | -70.0% | Revenue Growth: 6.0%, Adj P/E: 8.2x |
| ROE Based Valuation | profitability | ₹2069.57 | ₹1862.61 - ₹2276.53 | -33.3% | ROE: 9.6%, P/E Multiple: 10x |
| Graham Defensive Method | conservative | ₹1433.23 | ₹1289.91 - ₹1576.55 | -53.8% | EPS: ₹42.48, BVPS: ₹2149.13 |
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Valuation Comparison Chart
THERMAX Intrinsic Value Analysis
What is the intrinsic value of THERMAX?
Based on our comprehensive analysis using 9 different valuation methods, the estimated intrinsic value of Thermax (THERMAX) is ₹2069.57 (median value). With the current market price of ₹3101.80, this represents a -33.3% variance from our estimated fair value.
The valuation range spans from ₹930.54 to ₹4707.44, indicating ₹930.54 - ₹4707.44.
Is THERMAX undervalued or overvalued?
Based on our multi-method analysis, Thermax (THERMAX) appears to be trading above calculated value by approximately 33.3%.
Financial Health Analysis
| Financial Metric | Current Value | Industry Benchmark | Assessment | Impact on Valuation |
|---|---|---|---|---|
| Current Ratio | 5.01 | Industry Standard: 2.0+ | Above 2.0 | Measures short-term liquidity capacity |
| Return on Equity | 9.6% | Industry Standard: 15%+ | Below 10% | Measures shareholder return efficiency |
| Operating Margin | 7.0% | Industry Standard: 20%+ | Below 10% | Indicates operational efficiency level |
| Asset Turnover Ratio | 0.85x | Industry Standard: 1.0x+ | Above 0.5x | Measures asset utilization efficiency |
Related Pages for Thermax
Additional stock information and data for THERMAX
Cash Flow Quality Analysis
| Period | Operating Cash Flow | Free Cash Flow | Cash Flow Quality | Sustainability Score |
|---|---|---|---|---|
| March 2025 | ₹1,043 Cr | ₹433 Cr | Positive Free Cash Flow | 7/10 |
| March 2024 | ₹247 Cr | ₹-10 Cr | Positive Operating Cash Flow | 6/10 |
| March 2023 | ₹460 Cr | ₹128 Cr | Positive Free Cash Flow | 7/10 |
| March 2022 | ₹325 Cr | ₹115 Cr | Positive Free Cash Flow | 7/10 |
| March 2021 | ₹770 Cr | ₹457 Cr | Positive Free Cash Flow | 8/10 |