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Last Updated: April 2, 2026, 3:43 am
Author: Getaka|Social: XLinkedIn

State Bank of India (SBI): Intrinsic Value & Share Price Analysis

Fair Value

₹1,039.10Fairly Valued by 2.07%vs CMP ₹1,018.00

P/E (11.6) × ROE (17.2%) × BV (₹641.00) × DY (1.56%)

₹1,048.34Fairly Valued by 2.98%vs CMP ₹1,018.00
MoS: +2.9% (Thin)Confidence: 37/100 (Low)Models: 3 Under, 1 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,228.8927%Under (+20.7%)
Graham NumberEarnings₹1,150.0819%Under (+13%)
Earnings PowerEarnings₹626.7313%Over (-38.4%)
DCFCash Flow₹2,153.9113%Under (+111.6%)
Net Asset ValueAssets₹616.899%Over (-39.4%)
EV/EBITDAEnterprise₹43.2511%Over (-95.8%)
Earnings YieldEarnings₹917.109%Fair (-9.9%)
Consensus (7 models)₹1,048.34100%Fairly Valued
Key Drivers: Wide model spread (₹43–₹2,154) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 18.3%

*Investments are subject to market risks

Investment Snapshot

58
State Bank of India (SBI) scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 6.5% WeakROE 17.2% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.40% (6mo) Slight increaseDII holding up 2.12% MF buyingPromoter holding at 55.5% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum58/100 · Moderate
Profit (4Q): +5% YoY Positive
Industry Rank50/100 · Moderate
P/E 11.6 vs industry 8.7 In-lineROCE 6.5% vs industry 6.2% Average

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:43 am

Market Cap 9,39,492 Cr.
Current Price 1,018
Intrinsic Value₹1,048.34
High / Low 1,235/730
Stock P/E11.6
Book Value 641
Dividend Yield1.56 %
ROCE6.47 %
ROE17.2 %
Face Value 1.00
PEG Ratio0.64

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for State Bank of India (SBI)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
State Bank of India (SBI) 9,39,492 Cr. 1,018 1,235/73011.6 6411.56 %6.47 %17.2 % 1.00
Union Bank of India 1,31,023 Cr. 172 205/1126.92 1722.77 %6.72 %17.0 % 10.0
Bank of Baroda 1,30,334 Cr. 252 326/2126.70 3183.31 %6.29 %15.5 % 2.00
Indian Bank 1,19,610 Cr. 888 1,000/5189.95 5931.83 %6.38 %17.1 % 10.0
Punjab National Bank 1,19,527 Cr. 104 135/89.46.72 1302.79 %6.32 %15.2 % 2.00
Industry Average144,637.54 Cr226.678.69183.822.11%6.22%14.34%7.46

All Competitor Stocks of State Bank of India (SBI)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue91,51898,083101,460107,391112,868117,469118,242121,045124,654126,997125,729128,040130,590
Interest 49,36653,45158,04562,95568,09270,64471,70173,61977,39778,22778,26678,00278,783
Expenses 56,49859,96549,08059,36562,63565,41853,99662,70964,89074,43859,49672,26576,799
Financing Profit-14,346-15,334-5,665-14,930-17,858-18,593-7,455-15,283-17,634-25,668-12,034-22,227-24,992
Financing Margin %-16%-16%-6%-14%-16%-16%-6%-13%-14%-20%-10%-17%-19%
Other Income 35,70138,76930,87336,86533,10347,44533,88342,75843,20052,56541,26350,88455,059
Depreciation -0-0-0-0-0-0-0-0-0-0-0-0-0
Profit before tax 21,35523,43625,20821,93615,24528,85226,42827,47425,56626,89729,22928,65730,067
Tax % 27%22%26%25%26%25%26%26%25%26%26%25%27%
Net Profit 15,88818,76919,09416,64811,59822,20320,09420,56519,48420,37922,12121,86122,176
EPS in Rs 17.3420.2720.7718.0412.4023.9621.6522.1721.1221.9623.7622.9023.09
Gross NPA %2.53%2.13%
Net NPA %0.63%0.52%

Last Updated: March 3, 2026, 2:34 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue189,062207,974220,633230,447228,970253,322269,852278,115289,973350,845439,189490,938511,356
Interest 121,479133,179143,047149,115146,603155,867161,124156,010156,194189,981259,736300,943313,278
Expenses 82,19896,675109,985145,666169,065166,104172,909192,821197,349204,303239,750252,043282,999
Financing Profit-14,614-21,879-32,399-64,334-86,697-68,649-64,181-70,715-63,570-43,439-60,297-62,049-84,922
Financing Margin %-8%-11%-15%-28%-38%-27%-24%-25%-22%-12%-14%-13%-17%
Other Income 37,88249,31552,82868,19377,55777,36598,159107,222117,000122,534155,386172,406199,771
Depreciation 1,9421,5812,2522,9153,1053,4963,6623,7113,6913,6963,8493,9910
Profit before tax 21,32625,85518,177945-12,2455,22030,31732,79649,73975,39991,240106,365114,849
Tax % 32%32%30%141%-66%41%40%26%27%25%25%26%
Net Profit 14,80717,83213,019-97-3,7493,35121,14023,88837,18357,75069,54380,52386,537
EPS in Rs 18.9922.7615.750.30-5.112.5822.1525.1139.6462.3575.1786.9191.71
Dividend Payout % 16%15%17%859%0%0%0%16%18%18%18%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)20.43%-26.99%-100.75%-3764.95%189.38%530.86%13.00%55.66%55.31%20.42%15.79%
Change in YoY Net Profit Growth (%)0.00%-47.42%-73.75%-3664.20%3954.33%341.47%-517.86%42.66%-0.34%-34.89%-4.63%

State Bank of India (SBI) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:13%
3 Years:19%
TTM:9%
Compounded Profit Growth
10 Years:16%
5 Years:36%
3 Years:30%
TTM:9%
Stock Price CAGR
10 Years:13%
5 Years:31%
3 Years:15%
1 Year:-1%
Return on Equity
10 Years:10%
5 Years:15%
3 Years:17%
Last Year:17%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 747747776797892892892892892892892892923
Reserves 146,624160,641179,816216,395229,429233,603250,168274,669304,696358,039414,047486,144568,389
Deposits1,838,8522,052,9612,253,8582,599,8112,722,1782,940,5413,274,1613,715,3314,087,4114,468,5364,966,5375,439,8985,655,559
Borrowing223,760244,663361,399336,366369,079413,748332,901433,796449,160521,152639,610610,857650,303
Other Liabilities 185,573240,149276,472288,391294,860299,676339,364420,926518,719605,796712,669775,938798,225
Total Liabilities 2,395,5562,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,7567,313,7307,673,400
Fixed Assets 10,22312,92415,41551,18942,03539,94139,60841,60041,03245,88046,07247,71654,362
CWIP 337400786695925762470116286642410
Investments 579,401673,507807,3751,027,2811,183,7941,119,2701,228,2841,595,1001,776,4901,913,1082,110,5482,205,6012,276,621
Other Assets 1,805,5952,012,3292,248,7462,362,5942,389,6852,728,4872,929,1233,208,7983,543,3283,995,3614,577,0935,060,3715,342,416
Total Assets 2,395,5562,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,7567,313,7307,673,400

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 19,14226,29714,47777,406-96,50829,55623,92989,91957,695-86,01421,63248,486
Cash from Investing Activity + -791-3,424-2,747-4,57213,053220-555-3,670-2,652-966-3,476-3,387
Cash from Financing Activity + 3,583-1,5534,348-4,1965,5474485,4307,143-3,8456,386-9,896-13,739
Net Cash Flow 21,93421,32016,07868,638-77,90830,22328,80393,39251,198-80,5938,26031,361
Free Cash Flow 15,74322,84810,70172,982-89,90626,55020,86486,09154,644-86,01417,45742,849
CFO/OP 30%30%22%93%-148%43%40%110%72%-47%27%34%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow81.0094.00107.00143.00167.00164.00169.00189.00193.00200.00235.00247.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE % 10%11%7%0%-2%1%7%9%12%17%17%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 57.49%57.47%57.49%57.49%57.54%57.54%57.51%57.43%57.43%57.42%55.50%55.50%
FIIs 9.89%10.36%10.72%10.91%11.09%11.15%10.71%10.27%9.94%9.33%9.57%10.34%
DIIs 25.20%24.83%24.36%24.15%23.96%23.61%23.96%24.79%24.92%25.54%27.65%27.04%
Government 0.03%0.03%0.03%0.03%0.03%0.03%0.14%0.14%0.14%0.14%0.14%0.13%
Public 7.40%7.30%7.41%7.40%7.37%7.67%7.67%7.35%7.54%7.56%7.13%6.97%
No. of Shareholders 29,93,29829,48,53630,29,11630,47,68531,50,35036,13,12737,91,51237,19,91338,26,54937,54,45936,18,55435,67,461

Shareholding Pattern Chart

No. of Shareholders

State Bank of India (SBI): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 44,000,000 5.26 5287.48N/AN/AN/A
HDFC Balanced Advantage Fund 35,000,000 3.91 4205.95N/AN/AN/A
SBI Equity Hybrid Fund 33,000,000 4.82 3965.6144,000,0002025-12-08 00:51:45-25%
Kotak Flexicap Fund 23,800,000 5.03 2860.05N/AN/AN/A
SBI Focused Fund 23,000,000 6.38 2763.91N/AN/AN/A
SBI Large Cap Fund 19,106,000 4.16 2295.97N/AN/AN/A
Nippon India Large Cap Fund 17,082,107 3.99 2052.7619,082,1072026-03-23 06:38:59-10.48%
HDFC Focused Fund 13,700,000 6.07 1646.33N/AN/AN/A
Mirae Asset Large & Midcap Fund 13,215,164 3.7 1588.0718,655,8872025-12-08 05:14:22-29.16%
Kotak Large & Midcap Fund 12,500,000 4.89 1502.13N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
Face Value1.001.001.001.001.00
Basic EPS (Rs.) 86.9175.1762.3539.6425.11
Diluted EPS (Rs.) 86.9175.1762.3539.6425.11
Cash EPS (Rs.) 93.0180.6667.5144.8731.36
Book Value[Excl.RevalReserv]/Share (Rs.) 515.07434.06371.08316.22282.35
Book Value[Incl.RevalReserv]/Share (Rs.) 545.72464.94402.18342.41308.77
Operating Revenue / Share (Rs.)550.09492.11393.12324.91311.63
Net Profit / Share (Rs.) 88.5476.3563.3740.7427.21
Net Profit After MI / Share (Rs.)86.9175.1762.3539.6425.11
Net Profit Margin (%) 16.0915.5116.1212.538.73
Net Profit After MI And SOA Nargin (%)15.7915.2715.8612.198.05
Operating Profit Margin (%)21.8020.3419.9514.4910.58
Return On Assets (%) 1.060.990.930.650.46
Return On Equity / Networth (%)16.8717.3116.8012.538.89
Net Interest Margin (X)2.592.662.702.492.51
Cost To Income (%)65.2770.4466.9769.5265.59
Interest Income / Total Assets (%)6.716.525.895.405.73
Non-Interest Income / Total Assets (%)2.352.302.052.182.21
Operating Profit / Total Assets (%)-1.27-1.29-1.10-1.50-1.71
Operating Expenses / Total Assets (%)3.233.503.183.253.10
Interest Expenses / Total Assets (%)4.113.853.192.913.21
Enterprise Value (Rs.Cr.)6511893.796052456.955209748.344718824.314260797.07
EV Per Net Sales (X)13.2613.7814.8516.2715.32
Price To Book Value (X)1.501.731.411.561.29
Price To Sales (X)1.401.531.331.521.17
Retention Ratios (%) 81.7081.7781.8782.0884.06
Earnings Yield (X)0.110.090.110.080.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

State Bank of India is a Public Limited Listed company incorporated on 31/12/1955 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L20012024STATEBANK and registration number is 0. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company's Total Operating Revenue is Rs. 462489.35 Cr. and Equity Capital is Rs. 892.46 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance - Banks - Public SectorState Bank Bhavan, Mumbai Maharashtra 400021Contact not found
Management
NamePosition Held
Mr. Challa Sreenivasulu SettyChairman
Mr. Ashwini Kumar TewariManaging Director
Mr. Vinay M TonseManaging Director
Mr. Rana Ashutosh Kumar SinghManaging Director
Mr. Rama Mohan Rao AmaraManaging Director
Mr. Ketan S VikamseyNon Executive Director
Mr. Mrugank M ParanjapeNon Executive Director
Mr. Rajesh Kumar DubeyNon Executive Director
Mr. Dharmendra Singh ShekhawatNon Executive Director
Mrs. Swati GuptaNon Executive Director
Mr. Nagaraju MaddiralaNon Executive Director
Mr. Ajay KumarNon Executive Director

FAQ

What is the intrinsic value of State Bank of India (SBI) and is it undervalued?

As of 09 April 2026, State Bank of India (SBI)'s intrinsic value is ₹1048.34, which is 2.98% higher than the current market price of ₹1,018.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (17.2 %), book value (₹641), dividend yield (1.56 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of State Bank of India (SBI)?

State Bank of India (SBI) is trading at ₹1,018.00 as of 09 April 2026, with a FY2026-2027 high of ₹1,235 and low of ₹730. The stock is currently in the middle of its 52-week range. Market cap stands at ₹9,39,492 Cr..

How does State Bank of India (SBI)'s P/E ratio compare to its industry?

State Bank of India (SBI) has a P/E ratio of 11.6, which is above the industry average of 8.69. The premium over industry average may reflect growth expectations or speculative interest.

Is State Bank of India (SBI) financially healthy?

Key indicators for State Bank of India (SBI): ROCE of 6.47 % is on the lower side compared to the industry average of 6.22%; ROE of 17.2 % shows strong shareholder returns. Dividend yield is 1.56 %.

Is State Bank of India (SBI) profitable and how is the profit trend?

State Bank of India (SBI) reported a net profit of ₹80,523 Cr in Mar 2025 on revenue of ₹490,938 Cr. Compared to ₹37,183 Cr in Mar 2022, the net profit shows an improving trend.

Does State Bank of India (SBI) pay dividends?

State Bank of India (SBI) has a dividend yield of 1.56 % at the current price of ₹1,018.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in State Bank of India (SBI). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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