Last 45 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 4.50 | 0.05 | 0.24 | 0.22 | 0.30 | 0.23 | 0.23 | 0.23 | 0.25 | 0.20 | 0.25 | 0.29 | 0.26 | 0.25 | 0.24 | 0.27 | 0.27 | 0.29 | 0.32 | 0.43 | 0.43 |
| — | -77.0% | +2.3% | -4.7% | +21.9% | +11.9% | -6.3% | -21.6% | -5.8% | -18.4% | +1.1% | +10.1% | -3.6% | -13.3% | -23.8% | -37.5% | -35.8% | -25.1% | +38.2% | +41.7% | +75.4% | |
| P/S Ratio | 3.30 | 0.01 | 0.06 | 0.06 | 0.06 | 0.18 | 0.06 | 0.09 | 0.06 | 0.14 | 0.06 | 0.06 | 0.09 | 0.11 | 0.09 | 0.09 | 0.10 | 0.11 | 0.13 | 0.14 | 0.13 |
| — | -91.9% | -8.1% | -31.0% | +2.2% | +30.5% | +5.4% | +53.9% | -39.3% | +26.0% | -32.5% | -38.5% | -5.7% | +4.1% | -30.0% | -32.9% | -26.4% | -19.6% | +28.5% | +38.3% | +72.4% | |
| P/B Ratio | 0.60 | 0.01 | 2.88 | 0.03 | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 | 0.02 | 0.04 | 0.02 | 0.04 | 0.04 | 0.04 | 0.04 | 3.49 | 3.79 | 0.06 | 0.06 | 0.07 |
| — | -63.7% | +9039.1% | +59.3% | +4.7% | +9.4% | -16.7% | -3.2% | -22.1% | -57.8% | -9.1% | -49.0% | -98.8% | -98.9% | -28.2% | -35.9% | +5151.2% | +5614.9% | +27.9% | +36.1% | +78.2% | |
| P/FCF | 6.25 | 0.01 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 12.04 | 2.45 | 0.22 | 4.06 | 4.86 | 7.11 | 4.57 | 6.74 | 5.48 | 10.36 | 7.42 | 8.27 | 1.70 | 1.16 | 3.17 | 2.14 | 0.23 | 0.23 | 2.61 | 1.50 | 2.09 |
| — | -65.5% | -95.3% | -39.8% | -11.4% | -31.4% | -38.4% | -18.4% | +223.4% | +789.8% | +134.5% | +286.1% | +635.2% | +410.0% | +21.3% | +42.9% | -89.0% | -84.3% | -14.5% | -2.7% | -0.4% | |
| EV / EBIT | 12.54 | 2.45 | 0.22 | 4.06 | 4.86 | 7.11 | 4.57 | 6.74 | 5.48 | 10.36 | 7.42 | 8.27 | 1.70 | 1.16 | 3.17 | 2.14 | 0.23 | 0.23 | 2.61 | 1.50 | 2.09 |
| — | -65.5% | -95.3% | -39.8% | -11.4% | -31.4% | -38.4% | -18.4% | +223.4% | +789.8% | +134.5% | +286.1% | +635.2% | +410.0% | +21.3% | +42.9% | -89.0% | -84.3% | -14.5% | -2.7% | -0.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.2% | 58.4% | 61.0% | 57.0% | 52.6% | 22.7% | 54.7% | 45.1% | 59.2% | 34.2% | 58.4% | 58.6% | 52.1% | 62.2% | 55.1% | 54.7% | 56.2% | 57.2% | 65.2% | 63.5% | 65.6% |
| — | +157.0% | +11.7% | +26.2% | -11.1% | -33.6% | -6.4% | -22.9% | +13.7% | -45.0% | +6.0% | +7.1% | -7.3% | +8.6% | -15.5% | -13.8% | -14.3% | -9.9% | +7.1% | +10.5% | +10.3% | |
| Operating Margin | 20.6% | 23.7% | 21.2% | 22.5% | 15.7% | 22.5% | 21.4% | 23.0% | 19.4% | 17.1% | 18.5% | 19.5% | 27.2% | 42.5% | 30.4% | 29.0% | 31.1% | 32.8% | 29.7% | 27.3% | 27.5% |
| — | +5.2% | -0.6% | -2.1% | -19.3% | +31.2% | +15.7% | +17.8% | -28.6% | -59.7% | -39.3% | -32.8% | -12.7% | +29.8% | +2.3% | +6.1% | +13.1% | +10.6% | +10.2% | +7.4% | +8.9% | |
| Net Margin | 15.3% | 17.4% | 15.6% | 16.5% | 12.2% | 22.4% | 15.7% | 19.2% | 14.1% | 23.1% | 15.0% | 15.6% | 20.3% | 31.9% | 22.6% | 21.7% | 23.8% | 24.4% | 22.0% | 20.3% | 20.6% |
| — | -22.1% | -0.8% | -13.9% | -13.2% | -3.3% | +4.9% | +22.9% | -30.5% | -27.6% | -33.7% | -27.9% | -14.7% | +30.7% | +3.0% | +6.5% | +15.2% | +11.0% | +9.5% | +7.8% | +8.4% |
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 6.9% | 7.0% | 3.5% | 2.3% | 2.2% | 2.6% | 2.7% | 2.6% | 2.6% | 2.9% | 3.2% | 4.2% | 5.8% | 4.3% | 7.3% | 325.5% | 8.9% | 4.0% | 3.6% | 4.0% |
| — | +207.4% | +165.2% | +33.3% | -11.6% | -12.7% | -8.7% | -17.3% | -37.9% | -56.3% | -32.5% | -56.1% | -98.7% | -34.1% | +6.8% | +101.2% | +7964.4% | +104.0% | +0.5% | -1.9% | -2.1% | |
| ROA | 1.7% | 0.9% | 0.9% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.5% | 0.5% | 0.7% | 0.5% | 0.9% | 38.5% | 1.1% | 0.5% | 0.4% | 0.5% |
| — | +149.8% | +117.9% | +9.7% | -10.6% | -10.8% | -5.9% | -18.3% | -18.6% | -42.3% | -14.3% | -43.2% | -98.8% | -39.5% | +1.4% | +98.7% | +7897.8% | +110.2% | +3.9% | +1.3% | -1.1% | |
| ROIC | 5.8% | 3.6% | 3.5% | 1.7% | 1.1% | 0.8% | 1.3% | 1.1% | 1.2% | 0.6% | 1.1% | 1.4% | 2.1% | 2.8% | 2.2% | 4.0% | 162.7% | 4.9% | 2.3% | 2.0% | 2.2% |
| — | +325.1% | +164.9% | +53.8% | -8.5% | +35.4% | +17.1% | -21.6% | -41.4% | -77.9% | -49.4% | -63.7% | -98.7% | -43.2% | -2.4% | +98.1% | +7255.2% | +104.9% | +4.5% | -2.2% | -6.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.97 | 0.97 | 1.05 | 1.06 | 1.06 | 0.86 | 1.26 | 0.92 | 1.37 | 1.03 | 1.78 | 1.16 | 0.87 | 1.11 | 1.07 | 0.84 | 0.95 | 0.98 | 0.81 | 0.79 | 0.85 |
| — | +11.9% | -16.8% | +15.0% | -22.5% | -16.3% | -29.0% | -20.0% | +58.6% | -7.0% | +65.7% | +37.7% | -9.3% | +13.3% | +31.7% | +6.6% | +12.2% | +21.9% | -5.1% | -9.3% | +9.8% | |
| Debt / EBITDA | 5.16 | 20.53 | 0.25 | 22.12 | 28.80 | 48.14 | 27.26 | 36.50 | 29.63 | 69.43 | 37.64 | 40.98 | 15.88 | 15.06 | 18.71 | 16.92 | 0.23 | 0.22 | 15.49 | 16.22 | 16.34 |
| — | -57.4% | -99.1% | -39.4% | -2.8% | -30.7% | -27.6% | -10.9% | +86.6% | +360.9% | +101.2% | +142.2% | +6907.4% | +6708.6% | +20.8% | +4.3% | -98.6% | -98.4% | -7.3% | -5.1% | +7.6% | |
| Current Ratio | — | — | — | 0.06 | 0.08 | 0.34 | 1.11 | 0.31 | 0.08 | 0.41 | 0.08 | 0.43 | 0.09 | 0.27 | 0.32 | — | — | — | 1.10 | 0.98 | 0.39 |
| — | — | — | -79.5% | -3.2% | -17.5% | +1224.6% | -27.7% | -6.3% | +51.0% | -73.9% | — | — | — | -70.6% | — | — | — | -1.2% | +0.1% | -94.5% | |
| Quick Ratio | — | — | — | 0.06 | 0.08 | 0.34 | 1.11 | 0.31 | 0.08 | 0.41 | 0.08 | 0.43 | 0.09 | 0.27 | 0.32 | — | — | — | 1.10 | 0.98 | 0.39 |
| — | — | — | -79.5% | -3.2% | -17.5% | +1224.6% | -27.7% | -6.3% | +51.0% | -73.9% | — | — | — | -70.6% | — | — | — | -1.2% | +0.1% | -94.5% | |
| Interest Coverage | 0.55 | 0.61 | 0.59 | 0.57 | 0.44 | 0.34 | 0.51 | 0.47 | 0.51 | 0.27 | 0.49 | 0.51 | 0.64 | 0.96 | 0.82 | 0.78 | 0.90 | 0.97 | 0.85 | 0.75 | 0.80 |
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Includes 30+ ratios · 45 years · Updated daily
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Quick answers to the most common questions about buying HDB stock.
HDFC Bank Limited's current P/E is 4.5x. The average P/E over the last 4 quarters is 0.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
HDFC Bank Limited's current operating margin is 20.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking HDFC Bank Limited's business trajectory between earnings reports.