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HDBHDFC Bank Limited
$23.41$120.1B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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HDB logo

HDFC Bank Limited

HDB
NYSE · Regional Banks
$23.41
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$120.08B
P/E4.8x
52W High$37.45
Volume8.41M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q4

Post-Merger Integration Drives Complex Asset Realignment

HDFC Bank is currently navigating a transformative post-merger integration phase that has significantly expanded its balance sheet to 48.1 trillion as of 2026Q4. While the 53.5% NII growth suggests successful scaling of interest-earning assets, investors shoul...

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HDB price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

9/12 Beats

EPS beat 9 of last 12 quarters

02

Valuation risk

-67% Peers

P/E is 67% below peer median

03

Market leadership

RS 25 · Lag

Laggard (Underperforming 75% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 20
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Net interest income reached 426.1 billion in 2026Q4, though margin volatility remains a concern as evidenced by fluctuations between 0.6% and 80.8% over the last ten quarters.

Analyst Consensus
Hold(6 analysts)
2 Buy4 Hold0 Sell

The Bull Case

Upside Catalysts

Attractive Current Price

The current stock price of around $25.71 may represent a buying opportunity for investors seeking value in the banking sector.

Strong Market Capitalization

HDFC Bank boasts a substantial market capitalization of approximately $131 billion, indicating financial strength and market stability.

Resilience and Low Volatility

With a low beta of 0.67, HDB stock exhibits less volatility compared to the broader market, appealing to risk-averse investors.

The Bear Case

Key Downside Risks

Analyst Downgrades

Weiss Ratings recently downgraded HDB from 'hold' to 'sell,' citing concerns about future performance.

Stock Price Decline

The stock has experienced a significant drop from its 12-month high, hitting a 52-week low of Rs. 588 on March 27, 2026.

Insider Confidence

With only 1% of the stock owned by corporate insiders, there may be a lack of strong insider confidence in the company's future.

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HDB-32.59%
S&P 500 (^GSPC)+13.20%
1-Year Return
HDB-29.86%
S&P 500 (^GSPC)+15.98%
3-Year Return
HDB-10.30%
S&P 500 (^GSPC)+79.64%
5-Year Return
HDB-22.59%
S&P 500 (^GSPC)+74.99%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
4.8x
Forward P/EExpansion
0.2x
EV/EBITDA100th %ile
12.7x
FCF YieldCash Flow
15.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
4.8x
0.2x
100th· High
EV/EBITDA
12.7x
2.5x
100th· High
Price/FCF
6.7x
0.2x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$14.59-37.7%
Base (Fair)$27.94+20.6%
Bull$46.00+96.5%
$14.59 Bear$27.94 Base$46.00 Bull
Current Market Price: $23.41
Trades at a 16.2% discount to Base DCF ($27.94)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$3261.55B+37.5% YoY
Net income
$799.95B+18.8% YoY
Free cash flow
$1722.67B+52.6% YoY
Operating margin
20.6%+0.1 pts YoY
ROIC (TTM)5.8%
Avg ROIC 5Y-
ROE (TTM)11%
Piotroski Score8 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate9/12 (82%)
Revenue Beat Rate6/12 (60%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 20, 2026
$0.39-3.4%
vs $0.40
$4.8B-4.9%
vs $5.1B
Q3 2026
Jul 18, 2026
$0.40+5.3%
vs $0.38
$4.8B-3.8%
vs $5.0B
Q2 2026
Apr 18, 2026
$0.43+10.3%
vs $0.39
$4.8B-5.9%
vs $5.1B
Q1 2026
Jan 17, 2026
$0.43+10.3%
vs $0.39
$5.0B-1.2%
vs $5.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·1d ago
HDFC Bank Limited Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - HDB

NEW YORK, Sept. 22, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against HDFC Bank Limited ("HDFC Bank" or "the Company") (NYSE: HDB) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Newsfile Corp·Sep 14, 2026
Kaplan Fox Encourages HDFC Bank Limited (HDB) Investors to Contact the Firm Before the Lead Plaintiff Deadline on October 13, 2026

New York, New York--(Newsfile Corp. - September 14, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against HDFC Bank Limited ("HDFC Bank" or the "Company") (NYSE: HDB) on behalf of investors that purchased or otherwise acquired HDFC Bank securities, including American Depositary Shares ("ADS"), between July 17, 2023 and May 26, 2026 (the "Class Period"). CLICK HERE TO JOIN THE CASE If you are an investor in HDFC Bank and have suffered losses, you may CLICK HERE to contact us.

Defense World·Aug 6, 2026
Amundi Sells 149,728 Shares of HDFC Bank Limited $HDB

Amundi decreased its holdings in shares of HDFC Bank Limited (NYSE: HDB) by 41.3% during the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,792 shares of the bank's stock after selling 149,728 shares during the period. Amundi's holdings

Seeking Alpha·Jul 18, 2026
HDFC Bank Limited (HDB) Q1 2027 Earnings Call Transcript

HDFC Bank Limited (HDB) Q1 2027 Earnings Call Transcript

Filtered for HDFC Bank LimitedMore Headlines
04

Compare before deciding

Benchmark HDB against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for HDFC Bank Limited (HDB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HDB logoHDBHDFC Bank LimitedCurrent
$23.41$120.08B4.8237.53%15.34%10.97%5.67%
IBN logoIBNICICI Bank Limited
$28.04$101.6B17.978.53%17.36%15.06%—
HBM logoHBMHudbay Minerals Inc.
$27.74$12.32B19.009.39%27.12%17.33%—
ITUB logoITUBItaú Unibanco Holding S.A.
$8.43$92.91B10.964.21%12.29%21.05%—
BBD logoBBDBanco Bradesco S.A.
$3.57$37.76B8.3344.49%15.21%13.29%—
KB logoKBKB Financial Group Inc.
$129.22$45.37B11.6187.09%53.7%10.57%—

Compare HDB vs Peers

HDFC Bank Limited (HDB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IBN

Most directly comparable listed peer for HDB.

Scale Benchmark

vs JPM

Larger-name benchmark to compare HDB against a more recognizable public peer.

Peer Set

Compare Top 5

vs IBN, HBM, ITUB, BBD

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HDB Frequently Asked Questions

HDFC Bank Limited (HDB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is HDFC Bank Limited growing?

HDFC Bank Limited (HDB) grew revenue by 37.5% over the past year. This is strong growth.

Is HDB profitable?

Yes, HDFC Bank Limited (HDB) is profitable, generating $768.12B in net income for fiscal year 2026 (15.3% net margin).

Dividend & Returns
Does HDB pay dividends?

Yes, HDFC Bank Limited (HDB) pays a dividend with a yield of 5.67%. This makes it attractive for income-focused investors.

What is HDB's return on equity?

HDFC Bank Limited (HDB) has a return on equity (ROE) of 11.0%. This is reasonable for most industries.

Industry Metrics
What is HDFC Bank Limited's net interest margin?

HDFC Bank Limited (HDB) has a net interest margin (NIM) of 3.6%. This indicates healthy earnings from lending activities.

What is HDFC Bank Limited's efficiency ratio?

HDFC Bank Limited (HDB) has an efficiency ratio of 36.6%. This is excellent, indicating strong cost control.

What if you invested $1,000 in HDB back in 2001?

Total return calculator · dividends reinvested · 25+ years of data

See returns →