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Last Updated: April 2, 2026, 2:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532134 | NSE: BANKBARODA

Bank of Baroda: Intrinsic Value & Share Price Analysis

Fair Value

₹272.94Fairly Valued by 8.31%vs CMP ₹252.00

P/E (6.7) × ROE (15.5%) × BV (₹318.00) × DY (3.31%)

₹408.78Undervalued by 62.21%vs CMP ₹252.00
MoS: +38.4% (Strong)Confidence: 56/100 (Moderate)Models: 6 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹327.3127%Under (+29.9%)
Graham NumberEarnings₹519.0219%Under (+106%)
Earnings PowerEarnings₹299.0113%Under (+18.7%)
DCFCash Flow₹929.1613%Under (+268.7%)
Net Asset ValueAssets₹307.229%Under (+21.9%)
EV/EBITDAEnterprise₹28.3611%Over (-88.7%)
Earnings YieldEarnings₹376.509%Under (+49.4%)
Consensus (7 models)₹408.78100%Undervalued
Key Drivers: Wide model spread (₹28–₹929) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 19.9%

*Investments are subject to market risks

Investment Snapshot

54
Bank of Baroda scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 6.3% WeakROE 15.5% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.86% (6mo) Slight increaseDII holding up 0.75% MF buyingPromoter holding at 64.0% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum40/100 · Moderate
Profit (4Q): -5% YoY Declining
Industry Rank50/100 · Moderate
P/E 6.7 vs industry 8.7 In-lineROCE 6.3% 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, 2:41 am

Market Cap 1,30,334 Cr.
Current Price 252
Intrinsic Value₹408.78
High / Low 326/212
Stock P/E6.70
Book Value 318
Dividend Yield3.31 %
ROCE6.29 %
ROE15.5 %
Face Value 2.00
PEG Ratio0.34

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

View Share Price Target for Bank of Baroda

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bank of Baroda 1,30,334 Cr. 252 326/2126.70 3183.31 %6.29 %15.5 % 2.00
Union Bank of India 1,31,023 Cr. 172 205/1126.92 1722.77 %6.72 %17.0 % 10.0
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
Canara Bank 1,15,469 Cr. 127 163/83.45.72 1293.14 %6.79 %17.8 % 2.00
Industry Average144,637.54 Cr226.678.69183.822.11%6.22%14.34%7.46

All Competitor Stocks of Bank of Baroda

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue24,83427,19628,00329,26330,04231,07231,14331,90232,57032,82032,86633,31833,600
Interest 13,16114,79016,06017,52818,00218,30918,58219,26620,14320,27320,30720,19120,586
Expenses 11,01210,64211,04012,21610,55612,26910,87912,75510,65412,71212,92811,54812,390
Financing Profit6601,764902-4801,4844941,682-1191,772-165-3681,579624
Financing Margin %3%6%3%-2%5%2%5%-0%5%-0%-1%5%2%
Other Income 5,5195,3325,3166,5035,0426,5384,6587,5535,1637,0765,5385,1166,399
Depreciation 0000000000000
Profit before tax 6,1797,0966,2176,0236,5267,0336,3407,4346,9356,9115,1706,6957,024
Tax % 33%28%31%28%27%29%28%27%26%23%35%24%23%
Net Profit 4,3565,3154,4684,4264,8155,1604,7645,4055,2505,4473,5175,1815,501
EPS in Rs 8.3310.168.618.509.269.929.1410.3610.0810.486.719.9310.53
Gross NPA %
Net NPA %

Last Updated: February 6, 2026, 1:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue40,46344,91545,79944,47346,05652,90678,89574,31473,38594,503118,379127,945132,604
Interest 27,60430,54732,10729,59629,16032,50650,04043,20138,81549,94269,89978,26581,357
Expenses 12,04913,46625,39119,25026,09325,81540,58338,07037,51838,23144,38745,53349,577
Financing Profit809902-11,700-4,372-9,197-5,414-11,728-6,957-2,9486,3294,0934,1471,670
Financing Margin %2%2%-26%-10%-20%-10%-15%-9%-4%7%3%3%1%
Other Income 5,5555,4495,9927,9377,9927,88712,19114,68714,39516,27523,39924,93924,129
Depreciation 3683685255409019481,6971,3571,4382,0401,6941,4670
Profit before tax 5,9965,983-6,2333,024-2,1061,525-1,2346,37310,00820,56525,79927,61925,799
Tax % 18%36%-19%41%-9%29%-176%77%23%29%29%26%
Net Profit 5,0363,950-5,0331,855-1,8361,1669811,6207,93315,00518,86920,86519,645
EPS in Rs 23.2917.69-21.997.88-7.134.162.012.9915.1828.8236.2940.0637.65
Dividend Payout % 19%18%0%15%0%0%0%0%19%19%21%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-21.56%-227.42%136.86%-198.98%163.51%-15.87%65.14%389.69%89.15%25.75%10.58%
Change in YoY Net Profit Growth (%)0.00%-205.85%364.27%-335.83%362.48%-179.37%81.00%324.55%-300.54%-63.40%-15.17%

Bank of Baroda 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:11%
5 Years:10%
3 Years:20%
TTM:7%
Compounded Profit Growth
10 Years:18%
5 Years:86%
3 Years:38%
TTM:2%
Stock Price CAGR
10 Years:3%
5 Years:39%
3 Years:20%
1 Year:-4%
Return on Equity
10 Years:8%
5 Years:12%
3 Years:16%
Last Year:16%

Last Updated: September 5, 2025, 12:30 am

Balance Sheet

Last Updated: December 4, 2025, 1:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4314444624625305309251,0361,0361,0361,0361,0361,036
Reserves 37,41641,57442,04142,60546,03654,46675,17981,35490,833104,019118,677145,467157,860
Deposits579,997629,981586,690617,257607,451665,589973,228995,9101,075,8041,234,6821,359,9801,496,6881,525,204
Borrowing36,97635,50233,84531,24264,86068,86895,75371,263109,526107,910101,959135,813148,247
Other Liabilities 21,28426,46528,13427,64928,91930,21754,85053,10462,92278,22473,12382,76281,212
Total Liabilities 676,104733,966691,173719,216747,796819,6701,199,9351,202,6671,340,1211,525,8711,654,7751,861,7661,913,557
Fixed Assets 2,8492,9786,3595,9305,5327,3689,2688,44111,0989,8659,05413,54412,322
CWIP 0000000013610
Investments 122,113124,739128,894140,716175,137195,716289,727281,859347,587397,487407,136427,380433,733
Other Assets 551,142606,248555,920572,570567,126616,586900,941912,367981,4351,118,5161,238,5801,420,8421,467,502
Total Assets 676,104733,966691,173719,216747,796819,6701,199,9351,202,6671,340,1211,525,8711,654,7751,861,7661,913,557

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 42,23317,838-10,01117,865-59,692-1,44918,531-8876,210-21,354-6,27434,892
Cash from Investing Activity + -730-556-4,005-551-414-2,537-139-471-3,645-1,096-1,285-6,494
Cash from Financing Activity + 5,151-6-616-1983,4134,44914,729-986-998-5,4055,4763,790
Net Cash Flow 46,65417,276-14,63217,116-56,69246233,120-2,3441,567-27,855-2,08432,188
Free Cash Flow 41,50217,282-14,01617,314-60,105-3,98618,393-1,1462,805-22,140-7,15328,979
CFO/OP 157%57%-56%66%-304%11%49%12%20%-28%3%54%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-567.00-616.00-561.00-598.00-581.00-640.00-933.00-957.0036.0037.0043.0044.00

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 % 14%10%-12%4%-4%2%1%2%9%15%17%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 63.97%63.97%63.97%63.97%63.97%63.97%63.97%63.97%63.97%63.97%63.97%63.97%
FIIs 10.93%12.29%12.39%12.27%12.40%11.45%9.87%8.90%8.98%8.08%8.71%9.84%
DIIs 16.74%15.77%15.74%15.75%16.04%15.77%16.35%17.86%17.97%18.79%18.93%18.72%
Government 0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.08%0.08%
Public 8.10%7.70%7.64%7.76%7.32%8.55%9.56%9.01%8.83%8.89%8.30%7.37%
No. of Shareholders 12,78,02012,39,95812,70,48012,89,44313,29,61814,11,26617,11,54816,93,91716,89,79716,31,56215,65,74314,77,398

Shareholding Pattern Chart

No. of Shareholders

Bank of Baroda: 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 52,000,000 1.6 1556.88N/AN/AN/A
HDFC Small Cap Fund 46,828,792 3.8 1402.05N/AN/AN/A
HDFC Balanced Advantage Fund 30,000,000 0.84 898.2N/AN/AN/A
SBI Balanced Advantage Fund 21,646,950 1.61 648.1126,646,9502026-02-23 08:53:01-18.76%
ICICI Prudential Large Cap Fund 15,307,156 0.6 458.3N/AN/AN/A
Kotak Multicap Fund 15,100,000 1.99 452.09N/AN/AN/A
Kotak Midcap Fund 12,505,562 0.63 374.4211,700,0002026-02-23 07:11:396.89%
SBI PSU Fund 11,000,000 5.51 329.34N/AN/AN/A
SBI Banking & Financial Services Fund 9,985,585 2.87 298.97N/AN/AN/A
Aditya Birla Sun Life PSU Equity Fund 8,152,807 4.27 244.1N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
Face Value2.002.002.002.002.00
Basic EPS (Rs.) 40.0636.2928.8215.183.32
Diluted EPS (Rs.) 40.0636.2928.8215.183.32
Cash EPS (Rs.) 42.3538.8332.2917.655.43
Book Value[Excl.RevalReserv]/Share (Rs.) 282.95231.21202.90177.43159.12
Book Value[Incl.RevalReserv]/Share (Rs.) 282.95231.21202.90177.43159.12
Operating Revenue / Share (Rs.)247.11228.63181.82141.73143.53
Net Profit / Share (Rs.) 39.5135.5628.3714.872.81
Net Profit After MI / Share (Rs.)40.0136.2528.7915.162.99
Net Profit Margin (%) 15.9915.5515.6010.491.95
Net Profit After MI And SOA Nargin (%)16.1915.8515.8310.692.08
Operating Profit Margin (%)27.4125.6124.1415.723.17
Return On Assets (%) 1.111.130.970.580.12
Return On Equity / Networth (%)14.1415.6714.188.541.87
Net Interest Margin (X)2.662.922.892.572.58
Cost To Income (%)49.2147.7650.3750.7250.47
Interest Income / Total Assets (%)6.877.156.165.476.17
Non-Interest Income / Total Assets (%)1.331.411.091.071.22
Operating Profit / Total Assets (%)-0.24-0.30-0.12-0.49-1.10
Operating Expenses / Total Assets (%)1.972.072.001.851.92
Interest Expenses / Total Assets (%)4.204.223.272.893.59
Enterprise Value (Rs.Cr.)1692567.821533834.621373294.981186338.381065411.84
EV Per Net Sales (X)13.2312.9614.5916.1714.34
Price To Book Value (X)0.801.140.830.620.46
Price To Sales (X)0.921.160.920.780.51
Retention Ratios (%) 79.1579.0580.9181.22100.00
Earnings Yield (X)0.170.130.170.130.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bank of Baroda is a Public Limited Listed company incorporated on 02/03/1911 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1911PLC007676 and registration number is 007676. Currently company belongs to the Industry of Finance - Banks - Public Sector. Company's Total Operating Revenue is Rs. 75983.66 Cr. and Equity Capital is Rs. 925.37 Cr. for the Year ended 31/03/2020.
INDUSTRYADDRESSCONTACT
Finance - Banks - Public SectorBaroda House, Vadodra Gujarat 390001Contact not found
Management
NamePosition Held
Mr. Debadatta ChandManaging Director & CEO
Mr. Lal SinghExecutive Director
Mr. Sanjay Vinayak MudaliarExecutive Director
Mr. Lalit TyagiExecutive Director
Mrs. Beena VaheedExecutive Director
Mr. Ravindran MenonShareholder Director
Mr. Vijay DubeShareholder Director
Mrs. Nina NagpalShareholder Director
Dr. M P TangiralaNominee Director
Mr. Manoranjan MishraNominee Director

FAQ

What is the intrinsic value of Bank of Baroda and is it undervalued?

As of 09 April 2026, Bank of Baroda's intrinsic value is ₹408.78, which is 62.21% higher than the current market price of ₹252.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (15.5 %), book value (₹318), dividend yield (3.31 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bank of Baroda?

Bank of Baroda is trading at ₹252.00 as of 09 April 2026, with a FY2026-2027 high of ₹326 and low of ₹212. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,30,334 Cr..

How does Bank of Baroda's P/E ratio compare to its industry?

Bank of Baroda has a P/E ratio of 6.70, which is below the industry average of 8.69. This is broadly in line with or below the industry average.

Is Bank of Baroda financially healthy?

Key indicators for Bank of Baroda: ROCE of 6.29 % is on the lower side compared to the industry average of 6.22%; ROE of 15.5 % shows strong shareholder returns. Dividend yield is 3.31 %.

Is Bank of Baroda profitable and how is the profit trend?

Bank of Baroda reported a net profit of ₹20,865 Cr in Mar 2025 on revenue of ₹127,945 Cr. Compared to ₹7,933 Cr in Mar 2022, the net profit shows an improving trend.

Does Bank of Baroda pay dividends?

Bank of Baroda has a dividend yield of 3.31 % at the current price of ₹252.00. This is a relatively attractive yield for income-seeking investors.

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 Bank of Baroda. 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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