Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

State Bank of India (SBI): Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 9:25 pm

Market Cap 6,97,659 Cr.
Current Price 781
High / Low912/558
Stock P/E9.11
Book Value 465
Dividend Yield1.75 %
ROCE6.16 %
ROE17.3 %
Face Value 1.00
PEG Ratio0.33

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

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

Competitors of State Bank of India (SBI)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Union Bank of India 87,932 Cr. 115172/1055.73 1283.12 %6.55 %15.6 % 10.0
UCO Bank 49,641 Cr. 41.570.7/36.822.8 22.90.67 %5.34 %6.22 % 10.0
State Bank of India (SBI) 6,97,659 Cr. 781912/5589.11 4651.75 %6.16 %17.3 % 1.00
Punjab National Bank 1,10,703 Cr. 96.4143/75.67.65 1001.56 %5.46 %8.54 % 2.00
Punjab & Sind Bank 31,349 Cr. 46.477.5/40.246.5 22.90.43 %5.59 %3.88 % 10.0
Industry Average122,963.42 Cr185.9312.55148.891.97%5.88%12.90%7.25

All Competitor Stocks of State Bank of India (SBI)

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue68,03368,96073,02973,37674,60876,78184,46391,51898,083101,460107,391112,868117,469
Interest38,38938,24938,63839,36339,94441,93145,23249,36653,45158,04562,95568,09270,644
Expenses55,38044,69842,67652,01554,23342,32849,20856,49859,96549,08059,36562,63565,418
Financing Profit-25,737-13,987-8,285-18,002-19,569-7,478-9,977-14,346-15,334-5,665-14,930-17,858-18,593
Financing Margin %-38%-20%-11%-25%-26%-10%-12%-16%-16%-6%-14%-16%-16%
Other Income35,39824,30720,69631,15233,42717,74330,32035,70138,76930,87336,86533,10347,445
Depreciation0000000000000
Profit before tax9,66110,32012,41113,15013,85810,26520,34221,35523,43625,20821,93615,24528,852
Tax %25%27%26%26%28%27%26%27%22%26%25%26%25%
Net Profit6,4957,7039,3429,94810,1917,79615,29715,88818,76919,09416,64811,59822,203
EPS in Rs6.868.279.9610.7110.708.2116.5317.3420.2720.7718.0412.4023.96
Gross NPA %
Net NPA %

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Revenue167,976189,062207,974220,633230,447228,970253,322269,852278,115289,973350,845439,189
Interest106,818121,479133,179143,047149,115146,603155,867161,124156,010156,194189,981259,736
Expenses66,28382,19896,675109,985145,666169,065166,104172,909192,821197,349204,303239,750
Financing Profit-5,124-14,614-21,879-32,399-64,334-86,697-68,649-64,181-70,715-63,570-43,439-60,297
Financing Margin %-3%-8%-11%-15%-28%-38%-27%-24%-25%-22%-12%-14%
Other Income32,58437,88249,31552,82868,19377,55777,36598,159107,222117,000122,534155,386
Depreciation1,5771,9421,5812,2522,9153,1053,4963,6623,7113,6913,6963,849
Profit before tax25,88221,32625,85518,177945-12,2455,22030,31732,79649,73975,39991,240
Tax %29%32%32%30%141%-66%41%40%26%27%25%25%
Net Profit18,55514,80717,83213,019-97-3,7493,35121,14023,88837,18357,75069,543
EPS in Rs26.1918.9922.7615.750.30-5.112.5822.1525.1139.6462.3575.17
Dividend Payout %16%16%15%17%859%0%0%0%16%18%18%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-20.20%20.43%-26.99%-100.75%-3764.95%189.38%530.86%13.00%55.66%55.31%20.42%
Change in YoY Net Profit Growth (%)0.00%40.63%-47.42%-73.75%-3664.20%3954.33%341.47%-517.86%42.66%-0.34%-34.89%

State Bank of India (SBI) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:12%
3 Years:16%
TTM:18%
Compounded Profit Growth
10 Years:17%
5 Years:99%
3 Years:44%
TTM:12%
Stock Price CAGR
10 Years:10%
5 Years:19%
3 Years:17%
1 Year:40%
Return on Equity
10 Years:9%
5 Years:13%
3 Years:16%
Last Year:17%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital684747747776797892892892892892892892
Reserves124,349146,624160,641179,816216,395229,429233,603250,168274,669304,696358,039414,047
Borrowings1,831,1262,062,6122,297,6242,615,2572,936,1763,091,2583,354,2893,607,0614,149,1274,536,5704,989,6875,606,147
Other Liabilities176,355185,573240,149276,472288,391294,860299,676339,364420,926518,719605,796712,669
Total Liabilities2,132,5142,395,5562,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,756
Fixed Assets8,69410,22312,92415,41551,18942,03539,94139,60841,60041,03245,88046,072
CWIP676337400786695925762470116286642
Investments519,343579,401673,507807,3751,027,2811,183,7941,119,2701,228,2841,595,1001,776,4901,913,1082,110,548
Other Assets1,603,8011,805,5952,012,3292,248,7462,362,5942,389,6852,728,4872,929,1233,208,7983,543,3283,995,3614,577,093
Total Assets2,132,5142,395,5562,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,756

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +24,33219,14226,29714,47777,406-96,50829,55623,92989,91957,695-86,01421,632
Cash from Investing Activity +-2,271-791-3,424-2,747-4,57213,053220-555-3,670-2,652-966-3,476
Cash from Financing Activity +-4,4243,583-1,5534,348-4,1965,5474485,4307,143-3,8456,386-9,896
Net Cash Flow17,63721,93421,32016,07868,638-77,90830,22328,80393,39251,198-80,5938,260

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow65.0080.0094.00107.00143.00166.00163.00169.00188.00193.00200.00234.00

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %16%10%11%7%-0%-2%1%7%9%12%17%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters57.60%57.59%57.57%57.52%57.50%57.49%57.47%57.49%57.49%57.54%57.54%57.51%
FIIs10.37%9.97%9.62%9.95%10.09%9.89%10.36%10.72%10.91%11.09%11.15%10.71%
DIIs24.10%24.66%25.09%25.39%25.36%25.20%24.83%24.36%24.15%23.96%23.61%23.96%
Government0.15%0.15%0.15%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.14%
Public7.78%7.63%7.58%7.10%7.03%7.40%7.30%7.41%7.40%7.37%7.67%7.67%
No. of Shareholders29,18,31229,82,37230,52,75128,37,26627,97,19629,93,29829,48,53630,29,11630,47,68531,50,35036,13,12737,91,512

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Nifty 50 ETF70,618,5052.594534.0625,000,0002024-11-20182.47%
SBI S&P BSE Sensex ETF50,025,4152.993211.3825,000,0002024-11-20100.1%
SBI Equity Hybrid Fund44,000,0004.42825.0225,000,0002024-11-2076%
HDFC Balanced Advantage Fund - Regular Plan40,657,2713.562610.425,000,0002024-11-2062.63%
HDFC Flexi Cap Fund - Regular Plan36,000,0005.032311.3825,000,0002024-11-2044%
SBI Focused Equity Fund27,000,0005.51733.5425,000,0002024-11-208%
Kotak Flexicap Fund - Regular Plan25,000,0003.61605.1325,000,0002024-11-200%
Mirae Asset Large Cap Fund20,552,0193.481319.5425,000,0002024-11-20-17.79%
UTI Nifty 50 ETF19,477,6642.591250.5625,000,0002024-11-20-22.09%
Mirae Asset Large & Midcap Fund18,655,8873.691197.825,000,0002024-11-20-25.38%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
Face Value1.001.001.001.001.00
Basic EPS (Rs.)75.1762.3539.6425.1122.15
Diluted EPS (Rs.)75.1762.3539.6425.1122.15
Cash EPS (Rs.)80.6667.5144.8731.3624.47
Book Value[Excl.RevalReserv]/Share (Rs.)434.06371.08316.22282.35254.69
Book Value[Incl.RevalReserv]/Share (Rs.)464.94402.18342.41308.77281.31
Operating Revenue / Share (Rs.)492.11393.12324.91311.63302.37
Net Profit / Share (Rs.)76.3563.3740.7427.2120.37
Net Profit After MI / Share (Rs.)75.1762.3539.6425.1122.15
Net Profit Margin (%)15.5116.1212.538.736.73
Net Profit After MI And SOA Nargin (%)15.2715.8612.198.057.32
Operating Profit Margin (%)-19.86-18.80-27.81-29.82-29.63
Return On Assets (%)0.990.930.650.460.47
Return On Equity / Networth (%)17.3116.8012.538.898.69
Net Interest Margin (X)2.662.702.492.512.59
Cost To Income (%)70.4466.9769.5265.5963.69
Interest Income / Total Assets (%)6.525.895.405.736.42
Non-Interest Income / Total Assets (%)2.302.052.182.212.33
Operating Profit / Total Assets (%)-1.29-1.10-1.50-1.71-1.90
Operating Expenses / Total Assets (%)3.503.183.253.103.13
Interest Expenses / Total Assets (%)3.853.192.913.213.83
Enterprise Value (Rs.Cr.)6052456.955209748.344718824.314260797.073615863.07
EV Per Net Sales (X)13.7814.8516.2715.3213.40
Price To Book Value (X)1.731.411.561.290.77
Price To Sales (X)1.531.331.521.170.65
Retention Ratios (%)81.7781.8782.0884.06100.00
Earnings Yield (X)0.090.110.080.060.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of State Bank of India (SBI) as of November 21, 2024 is: 745.68

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, State Bank of India (SBI) is Overvalued by 4.52% compared to the current share price 781.00

Intrinsic Value of State Bank of India (SBI) as of November 21, 2024 is: 952.11

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, State Bank of India (SBI) is Undervalued by 21.91% compared to the current share price 781.00

Last 5 Year EPS CAGR: 27.68%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in State Bank of India (SBI):
    1. Net Profit Margin: 15.51%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 0% (Industry Average ROCE: 5.88%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 0% (Industry Average ROE: 12.9%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 0
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 9.11 (Industry average Stock P/E: 12.55)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

State Bank of India is a Public Limited Listed company incorporated on 31/12/1955 and registered in the State of Maharashtra, India. Company presently involved in the business activities of Banking Business.
INDUSTRYADDRESSCONTACT
Finance - Banks - Public SectorState Bank Bhavan, Mumbai Maharashtra 400021investor.complaints@sbi.co.in
http://www.sbi.co.in
Management
NamePosition Held
Mr. Dinesh Kumar KharaChairman
Mr. Challa Sreenivasulu SettyManaging Director
Mr. Alok Kumar ChoudharyManaging Director
Mr. Ashwini Kumar TewariManaging Director
Mr. Vinay M TonseManaging Director
Mr. Ketan S VikamseyNon Executive Director
Mr. Mrugank M ParanjapeNon Executive Director
Dr. Vivek JoshiNon Executive Director
Mr. Prafulla P ChhajedNon Executive Director
Mr. Rajesh Kumar DubeyNon Executive Director
Mr. Dharmendra Singh ShekhawatNon Executive Director
Mrs. Swati GuptaNon Executive Director
Mr. Ajay KumarNon Executive Director

FAQ

What is the latest intrinsic value of State Bank of India (SBI)?

The latest intrinsic value of State Bank of India (SBI) as on 21 November 2024 is ₹745.68, which is 4.52% lower than the current market price of ₹781.00.

What is the Market Cap of State Bank of India (SBI)?

The Market Cap of State Bank of India (SBI) is 6,97,659 Cr..

What is the current Stock Price of State Bank of India (SBI) as on 21 November 2024?

The current stock price of State Bank of India (SBI) as on 21 November 2024 is ₹781.

What is the High / Low of State Bank of India (SBI) stocks in FY 2024?

In FY 2024, the High / Low of State Bank of India (SBI) stocks is 912/558.

What is the Stock P/E of State Bank of India (SBI)?

The Stock P/E of State Bank of India (SBI) is 9.11.

What is the Book Value of State Bank of India (SBI)?

The Book Value of State Bank of India (SBI) is 465.

What is the Dividend Yield of State Bank of India (SBI)?

The Dividend Yield of State Bank of India (SBI) is 1.75 %.

What is the ROCE of State Bank of India (SBI)?

The ROCE of State Bank of India (SBI) is 6.16 %.

What is the ROE of State Bank of India (SBI)?

The ROE of State Bank of India (SBI) is 17.3 %.

What is the Face Value of State Bank of India (SBI)?

The Face Value of State Bank of India (SBI) is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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