Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Punjab National Bank: Intrinsic Value & Share Price Analysis

Fair Value

₹113.94Fairly Valued by 4.53%vs CMP ₹109.00

P/E (7.0) × ROE (15.2%) × BV (₹130.00) × DY (2.67%)

₹166.37Undervalued by 52.63%vs CMP ₹109.00
MoS: +34.5% (Strong)Confidence: 50/100 (Moderate)Models: 5 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹153.2827%Under (+40.6%)
Graham NumberEarnings₹212.7219%Under (+95.2%)
Earnings PowerEarnings₹70.9513%Over (-34.9%)
DCFCash Flow₹382.6713%Under (+251.1%)
Net Asset ValueAssets₹130.869%Under (+20.1%)
EV/EBITDAEnterprise₹8.3611%Over (-92.3%)
Earnings YieldEarnings₹154.709%Under (+41.9%)
Consensus (7 models)₹166.37100%Undervalued
Key Drivers: EPS CAGR 34.5% lifts DCF — verify sustainability. | Wide model spread (₹8–₹383) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 34.5%

*Investments are subject to market risks

Analyst Summary

Punjab National Bank operates in the Finance - Banks - Public Sector segment, NSE: PNB | BSE: 532461, current market price is ₹109.00, market cap is 1,24,917 Cr.. At a glance, stock P/E is 7.02, ROE is 15.2 %, ROCE is 6.32 %, book value is 130, dividend yield is 2.67 %. The latest intrinsic value estimate is ₹166.37, which is about 52.6% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹124,010 Cr versus the prior period change of 13.7%, while latest net profit is about ₹18,553 Cr with a prior-period change of 102.6%. The 52-week range shown on this page is 135/89.4, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisPunjab National Bank is a Public Limited Listed company incorporated on 19/07/1969 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L200120…

This summary is generated from the stock page data available for Punjab National Bank: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

58
Punjab National Bank scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 6.3% WeakROE 15.2% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.22% (6mo) Slight increaseDII holding up 1.42% MF buyingPromoter holding at 70.1% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum58/100 · Moderate
Profit (4Q): +6% YoY Positive
Industry Rank50/100 · Moderate
P/E 7.0 vs industry 9.0 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.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:53 am

Market Cap 1,24,917 Cr.
Current Price 109
Intrinsic Value₹166.37
High / Low 135/89.4
Stock P/E7.02
Book Value 130
Dividend Yield2.67 %
ROCE6.32 %
ROE15.2 %
Face Value 2.00
PEG Ratio0.20

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

View Share Price Target for Punjab National Bank

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Punjab National Bank 1,24,917 Cr. 109 135/89.47.02 1302.67 %6.32 %15.2 % 2.00
Union Bank of India 1,24,970 Cr. 164 205/1136.43 1752.90 %6.30 %15.7 % 10.0
Canara Bank 1,22,272 Cr. 135 163/90.16.06 1292.97 %6.79 %17.8 % 2.00
Bank of Baroda 1,37,072 Cr. 265 326/2127.04 3183.15 %6.29 %15.5 % 2.00
Indian Bank 1,11,701 Cr. 830 1,001/5409.11 5941.96 %6.32 %16.2 % 10.0
Industry Average150,953.23 Cr229.708.99184.082.03%6.18%14.76%7.46

All Competitor Stocks of Punjab National Bank

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue22,80824,30525,67326,85827,85228,68229,14530,44731,89532,52332,57232,51332,889
Interest 13,51314,69016,06416,82017,44418,20618,53619,79020,73821,64021,82821,85822,164
Expenses 11,57810,81310,99010,2599,4499,8318,4738,5927,4949,1429,1978,2999,298
Financing Profit-2,282-1,197-1,381-2219596462,1362,0653,6631,7421,5472,3561,426
Financing Margin %-10%-5%-5%-1%3%2%7%7%11%5%5%7%4%
Other Income 3,3253,8273,3602,9992,6764,2943,6154,6643,3924,7765,4274,1715,013
Depreciation 0000000000000
Profit before tax 1,0432,6301,9792,7783,6344,9405,7516,7297,0556,5186,9736,5276,440
Tax % 37%34%39%36%38%37%35%34%34%29%74%26%19%
Net Profit 7151,8761,3631,9902,4413,3633,9914,7394,8115,0112,1675,1215,577
EPS in Rs 0.641.691.221.812.213.043.614.104.184.341.844.464.83
Gross NPA %
Net NPA %

Last Updated: February 4, 2026, 12:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 12:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue44,95848,71050,80448,05848,72552,14754,91881,93576,24286,845109,065124,010130,497
Interest 28,22031,34334,33132,72233,53034,65636,99750,80546,82351,81768,53480,70487,490
Expenses 16,11218,76027,45322,53343,34539,64525,86738,60136,02641,50239,62333,89335,936
Financing Profit626-1,394-10,980-7,197-28,151-22,153-7,946-7,470-6,607-6,4739089,4137,071
Financing Margin %1%-3%-22%-15%-58%-42%-14%-9%-9%-7%1%8%5%
Other Income 4,7106,1756,1009,1688,8837,3679,38812,77712,32912,52914,15817,56019,387
Depreciation 3673844134305815846149828969059069580
Profit before tax 4,9694,397-5,2931,540-19,849-15,3708274,3254,8265,15114,16026,01526,458
Tax % 29%24%-31%41%-37%-35%56%38%19%35%35%29%
Net Profit 3,6743,525-3,5101,239-12,111-9,5504852,6953,9083,3599,15718,55317,875
EPS in Rs 19.9818.33-18.795.58-43.88-20.790.652.453.513.048.2716.0815.47
Dividend Payout % 10%18%-2%0%0%0%0%0%18%21%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 (%)-4.06%-199.57%135.30%-1077.48%21.15%105.08%455.67%45.01%-14.05%172.61%102.61%
Change in YoY Net Profit Growth (%)0.00%-195.52%334.87%-1212.78%1098.63%83.93%350.59%-410.66%-59.06%186.66%-70.00%

Punjab National Bank 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:10%
5 Years:18%
3 Years:18%
TTM:13%
Compounded Profit Growth
10 Years:18%
5 Years:111%
3 Years:69%
TTM:42%
Stock Price CAGR
10 Years:-2%
5 Years:25%
3 Years:41%
1 Year:-9%
Return on Equity
10 Years:2%
5 Years:7%
3 Years:9%
Last Year:15%

Last Updated: September 5, 2025, 12:45 pm

Balance Sheet

Last Updated: May 11, 2026, 1:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 3713934265529211,3482,0962,2022,2022,2022,2992,299
Reserves 41,66941,41242,99040,96545,16462,52990,43995,380100,678108,185130,839147,674
Deposits537,758570,383629,651648,439681,874710,2541,113,7171,154,2341,290,3471,379,2251,577,0201,724,795
Borrowing36,69281,67443,33665,33046,82862,51252,29859,37270,14972,586105,807107,558
Other Liabilities 19,52218,93216,90922,24215,33314,81421,17628,11330,27336,43841,57951,005
Total Liabilities 636,011712,793733,311777,528790,120851,4571,279,7251,339,3011,493,6491,598,6361,857,5442,033,331
Fixed Assets 3,6565,3086,2986,3716,2467,26211,04910,69612,08412,34813,08315,625
CWIP 000000000000
Investments 156,762165,126191,527204,419210,578253,782404,369388,586416,914446,421524,840523,515
Other Assets 475,594542,358535,486566,738573,295590,413864,307940,0191,064,6511,139,8671,319,6201,494,191
Total Assets 636,011712,793733,311777,528790,120851,4571,279,7251,339,3011,493,6491,598,6361,857,5442,033,331

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 4,81414,16721,938-1,742-33,532-12,79330,95020,03222,592-27,93922,07525,635
Cash from Investing Activity + -872-1,352159392-629-338-787-1,204-732-1,506-1,578-609
Cash from Financing Activity + 7,4515,975-9,7677,46013,96913,5915,4152,0321,2753,518-1,138-11,664
Net Cash Flow 11,39318,79012,3306,109-20,19246035,57920,85923,135-25,92819,35913,362
Free Cash Flow 4,26713,56121,442-2,394-33,972-13,13130,16419,49622,040-29,08320,49024,052
CFO/OP 25%67%92%1%-268%-36%72%54%52%-38%30%27%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow16.00-519.00-543.00-607.00-605.00-642.00-685.0037.0035.0040.0038.0032.00

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%8%-9%3%-29%-22%1%3%4%3%9%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.15%73.15%73.15%73.15%73.15%73.15%70.08%70.08%70.08%70.08%70.08%70.08%
FIIs 1.71%1.82%2.65%3.10%4.82%5.51%8.42%5.70%5.71%5.52%5.67%5.93%
DIIs 13.53%13.44%13.80%13.74%12.37%10.76%11.61%14.31%14.67%15.06%15.54%16.09%
Public 11.61%11.57%10.41%10.00%9.67%10.57%9.89%9.91%9.54%9.34%8.70%7.91%
No. of Shareholders 20,67,20220,30,10020,83,54621,63,62523,53,62525,29,28325,79,49126,40,52026,53,66525,74,69324,55,48423,09,003

Shareholding Pattern Chart

No. of Shareholders

Punjab National Bank: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Contra Fund 115,846,832 2.98 1450.29113,256,5862026-02-23 03:27:322.29%
SBI Balanced Advantage Fund 55,770,108 1.74 698.19N/AN/AN/A
SBI ELSS Tax Saver Fund 26,890,616 1.06 336.6427,890,6162026-02-23 01:16:54-3.59%
HSBC Value Fund 25,520,900 2.2 319.5N/AN/AN/A
SBI Large & Midcap Fund 23,200,000 0.77 290.44N/AN/AN/A
SBI Multi Asset Allocation Fund 21,000,000 1.6 249.413,000,0002026-02-16 06:46:3461.54%
SBI Multicap Fund 14,600,000 0.8 182.78N/AN/AN/A
HSBC Multi Cap Fund 3,280,980 0.79 41.07N/AN/AN/A
ICICI Prudential Equity Savings Fund 2,880,000 0.2 36.05N/AN/AN/A
SBI Equity Savings Fund 2,112,000 0.45 26.44N/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.) 16.428.273.043.532.64
Diluted EPS (Rs.) 16.428.273.043.532.64
Cash EPS (Rs.) 16.018.393.614.152.99
Book Value[Excl.RevalReserv]/Share (Rs.) 108.6192.7185.7682.2281.44
Book Value[Incl.RevalReserv]/Share (Rs.) 115.84100.2593.4388.6288.32
Operating Revenue / Share (Rs.)107.9099.0578.8769.2478.13
Net Profit / Share (Rs.) 15.177.562.793.342.05
Net Profit After MI / Share (Rs.)16.088.273.043.512.44
Net Profit Margin (%) 14.067.633.534.822.62
Net Profit After MI And SOA Nargin (%)14.908.353.855.063.12
Operating Profit Margin (%)29.1815.466.498.854.87
Return On Assets (%) 0.990.560.220.280.20
Return On Equity / Networth (%)14.808.923.544.263.00
Net Interest Margin (X)2.332.532.342.192.42
Cost To Income (%)54.4753.4851.4849.3546.43
Interest Income / Total Assets (%)6.676.825.815.696.39
Non-Interest Income / Total Assets (%)0.880.830.810.901.02
Operating Profit / Total Assets (%)0.05-0.31-0.61-0.62-0.85
Operating Expenses / Total Assets (%)1.751.801.621.521.60
Interest Expenses / Total Assets (%)4.344.283.463.493.96
Enterprise Value (Rs.Cr.)1728918.941523407.521333714.551195171.851160148.44
EV Per Net Sales (X)13.9413.9715.3615.6814.17
Price To Book Value (X)0.881.340.540.420.45
Price To Sales (X)0.891.260.590.500.46
Retention Ratios (%) 81.9681.8678.6281.7492.95
Earnings Yield (X)0.160.060.060.100.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Punjab National Bank is a Public Limited Listed company incorporated on 19/07/1969 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L20012024PUNJABNAT 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. 128223.19 Cr. and Equity Capital is Rs. 2298.59 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Finance - Banks - Public SectorPlot No. 4, Sector -10, New Delhi Delhi 110075Contact not found
Management
NamePosition Held
Mr. K G AnanthakrishnanNon Executive Chairman
Mr. Ashok ChandraManaging Director & CEO
Mr. D SurendranExecutive Director
Mr. M ParamasivamExecutive Director
Mr. Bibhu Prasad MahapatraExecutive Director
Mr. Kalyan KumarExecutive Director
Mr. Ambarish OjhaShareholder Director
Mr. Jatinder Singh BajajShareholder Director
Mr. Pankaj SharmaGovernment Nominee Director
Mrs. Uma SankarNominee Director

FAQ

What is the intrinsic value of Punjab National Bank and is it undervalued?

As of 11 May 2026, Punjab National Bank's intrinsic value is ₹166.37, which is 52.63% higher than the current market price of ₹109.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (15.2 %), book value (₹130), dividend yield (2.67 %), and 5-year EPS CAGR.

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

Punjab National Bank is trading at ₹109.00 as of 11 May 2026, with a FY2026-2027 high of ₹135 and low of ₹89.4. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,24,917 Cr..

How does Punjab National Bank's P/E ratio compare to its industry?

Punjab National Bank has a P/E ratio of 7.02, which is below the industry average of 8.99. This is broadly in line with or below the industry average.

Is Punjab National Bank financially healthy?

Key indicators for Punjab National Bank: ROCE of 6.32 % is on the lower side compared to the industry average of 6.18%; ROE of 15.2 % shows strong shareholder returns. Dividend yield is 2.67 %.

Is Punjab National Bank profitable and how is the profit trend?

Punjab National Bank reported a net profit of ₹18,553 Cr in Mar 2025 on revenue of ₹124,010 Cr. Compared to ₹3,908 Cr in Mar 2022, the net profit shows an improving trend.

Does Punjab National Bank pay dividends?

Punjab National Bank has a dividend yield of 2.67 % at the current price of ₹109.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: May 5, 2026, 12:53 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532461 | NSE: PNB
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 Punjab National Bank. 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
Explore Industry-wise Stock Analysis Reports