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Earnings transcript
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HDB
HDFC Bank Limited
$23.29
0.28
(1.22%)
| Exchange: | NYSE |
| Market Cap: | 119.462B |
| Shares Outstanding: | 795.466M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | Sashidhar Jagdishan | |||||
| Full Time Employees: | 214521 | |||||
| Address: |
| |||||
| Website: | https://www.hdfcbank.com |
HDFC Bank Limited is a prominent financial institution providing a comprehensive suite of banking and financial services, catering to both individual and corporate clients across India, Bahrain, Hong Kong, and Dubai. The bank organizes its operations into several key segments: Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated. Its offerings include a wide array of deposit products such as savings, salary, current, rural, public provident fund, and pension accounts, alongside Demat accounts for investments. Customers can also opt for fixed and recurring deposits, safe deposit lockers, offshore accounts and deposits, overdraft facilities against fixed deposits, and sweep-in options. HDFC Bank extends a diverse range of lending solutions, encompassing personal, home, vehicle (car and two-wheeler), business, educational, gold, consumer, and rural loans. It also provides specialized financing against properties, securities, rental receivables, and assets, as well as tailored loans for professionals and participation in government-sponsored schemes. Furthermore, the bank offers credit card-linked loans, working capital financing, and funding for commercial/construction equipment, healthcare/medical devices, and commercial vehicles. Dealer finance, term loans, and professional loans complete its extensive lending portfolio. Beyond lending, the bank issues credit, debit, prepaid, and forex cards, and facilitates various payment and collection services. These include export, import, remittance, bank guarantees, letters of credit, trade finance, hedging solutions, and comprehensive merchant and cash management services. Clients can also access insurance and investment products through HDFC Bank. For its corporate and institutional clients, HDFC Bank provides short-term finance, bill discounting, structured finance, export credit, loan syndication, and document collection services. The bank embraces digital innovation, offering online, wholesale, mobile, and phone banking, alongside instant payment systems like UPI, IMPS, NEFT, and RTGS. Additional services include channel and vendor financing, reimbursement accounts, money market operations, derivatives, employee trusts, solutions for cash-surplus corporates, tax payment services, and acting as bankers to rights/public issues. It also delivers bespoke financial solutions for supply chain partners and agricultural clients. As of March 31, 2022, HDFC Bank maintained a substantial physical presence, operating 21,683 banking outlets, including 6,342 branches and 18,130 automated teller machines (ATMs) across 3,188 cities and towns. Established in 1994, HDFC Bank Limited is headquartered in Mumbai, India.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 3,520,857,100 | 4,194,985,200 | 5,213,303,040 |
| Gross Profit | 1,853,871,200 | 2,190,128,100 | 2,981,069,008 |
| EBITDA | 757,807,300 | 924,567,500 | 1,118,880,379 |
| Operating Income | 705,459,000 | 861,546,200 | 1,074,741,274 |
| Net Income | 622,656,600 | 673,508,300 | 799,951,909 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Total Assets | 44,118,573,000 | 43,924,174,200 | 48,108,748,395 |
| Total Liabilities | 36,232,390,200 | 38,542,689,900 | 42,144,759,718 |
| Total Stockholders Equity | 4,563,952,500 | 5,217,893,900 | 5,744,570,697 |
| Total Debt | 8,093,552,100 | 6,346,055,700 | 5,768,341,396 |
| Cash and Cash Equivalents | 3,425,973,300 | 3,222,323,100 | 3,057,507,536 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating Cash Flow | 190,693,400 | -2,067,691,100 | 1,763,604,876 |
| Capital Expenditure | -42,867,200 | -40,758,900 | -40,930,605 |
| Free Cash Flow | 147,826,200 | -2,108,450,000 | 1,722,674,271 |
| Net Income | 751,841,400 | 707,922,500 | 799,951,909 |
| Net Change in Cash | 698,636,200 | 211,133,900 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 3,120,206,348.934 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 3,120,643,363.741 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 3,120,422,603.684 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 830,414,256.020 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 830,530,563.496 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 830,471,810.235 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 438,461,219.703 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 438,541,064.530 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 438,500,730.722 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 634,075,454.995 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 634,164,263.340 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 634,119,401.392 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 255.810 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 255.840 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 255.790 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 9 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: HDFC Bank reported financial outcomes aligning with expectations in the Q3 FY '26 earnings call, showcasing consistent revenue and net income growth as per income statement data. Strong operating cash flow and free cash flow metrics from cash flow statements indicate solid liquidity and operational efficiency.
- Strong Market Position: With a significant market capitalization and a stable beta as per company profile data, HDFC Bank holds a competitive position in the banking industry within the financial services sector, supported by a large employee base and extensive operational reach.
- High Profitability Metrics: Key metrics such as gross profit margin TTM and net profit margin TTM reflect superior profitability compared to industry averages, underpinned by effective cost management and revenue generation strategies.
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Intrinsic Value Calculator
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Common questions about HDB valuation
Is HDFC Bank Limited (HDB) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for HDFC Bank Limited (HDB) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is HDB a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether HDB trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is HDB’s P/E ratio?
You can see HDB’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for HDB?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is HDB a good long-term investment?
Whether HDB fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
HDB
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Daily snapshot
1.22
Trading Metrics:
| Open: | 23.31 | Previous Close: | 23.01 | |
| Day Low: | 23.2 | Day High: | 23.42 | |
| Year Low: | 22.91 | Year High: | 39.81 | |
| Price Avg 50: | 25.08 | Price Avg 200: | 31.85 | |
| Volume: | 17.739M | Average Volume: | 9.903M |
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Login — it's freeHDB full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of HDFC Bank, one of India’s largest private lenders, trading under the ticker HDB on the NYSE. If you’re looking to understand whether this stock is a buy, hold, or sell for your portfolio, stick around because we’re breaking down everything from financials to valuation, recent performance, and more. Let’s get started! So, why are we talking about HDFC Bank? Well, it’s a heavyweight in…
