JSW Energy Limited (JSWENERGY) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of JSW Energy Limited stock ₹177, price ₹523, that is 66.3% below the price, quality 37 out of 100. Rating: strongly overvalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ₹162.49 – ₹786.26 · fair‑value band ₹132.42 – ₹274.87 · the ₹523.35 price screens above the ₹176.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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JSW Energy Limited generates and sells power in India. It has a power generation capacity of 10,875 MW, which includes 5,658MW of thermal, 1,391 MW of hydro, 1,671 of Wind, and 680 MW of solar.
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The company has operations in the States of Karnataka, Punjab, Maharashtra, Tamil Nadu, Himachal Pradesh, Odisha, Andhra Pradesh, Telangana, Madhya Pradesh, Chhattisgarh, Gujarat, and Rajasthan. The company engages in power transmission and trading activities; and coal mining in South Africa.
JSW Energy Limited was incorporated in 1994 and is based in Mumbai, India.
Stock analysis
JSW Energy Limited (JSWENERGY) currently trades at ₹523.35, while our model-based Fair Value estimate is ₹176.56, 66% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹228.55 per share, and 0 of the 13 models we run sit above the ₹523.35 price.
Bear case: the Dividend Discount group reads lowest at ₹25.78, and 13 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹132.42 (bear) to ₹274.87 (bull), the price of ₹523.35 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 37/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
JSW Energy Limited reported revenue of ₹189B in FY2026 versus ₹81.7B in FY2022, a compound +23.3%/yr. Reported net income was ₹22.4B in FY2026, compounding +6.7%/yr from FY2022.
Key figures
Market cap ₹920B (≈ $9.7B) Mid · P/E ratio 41.2 · P/S ratio 4.56 · EPS (TTM) ₹12.70 · Dividend yield 0.4% · Net margin 11.5% · Return on equity 7.8% · Return on assets (EBIT) 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 19% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −48% fair-value upside, at −66%, JSWENERGY screens richer than that median.
Fair Value models
Bear₹132.42Fair Value ₹176.56Bull₹274.87
Price ₹523.35 · Downside -66.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹6.45 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+60.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.2%
Start year 2021 (pandemic). Over 10 years: +6.8% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.4%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.7%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.7% vs 4.5%, picking up
Profit margin 2006 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.35% → 36%
AI conclusion: JSW Energy's main strength is its steady addition of renewable generation capacity while its main weakness remains earnings exposure to weather and grid variability together with elevated leverage.
Main risk: Rapid capacity expansion could keep net debt high, forcing repeated capital raises or bond issuances that increase interest expenses and squeeze operating margins.
Bull case: By locking in more long-term PPAs with stronger counterparties and using internal cash flows plus targeted raises, the company could steadily reduce leverage while scaling reliable renewable output.
Bear case: If repeated refinancing becomes costlier amid disputes that slow collections from discoms, cash flow shortfalls might constrain new projects and limit the ability to meet growth targets.
JSW Energy keeps commissioning hundreds of megawatts of new renewable capacity each quarter, yet its earnings remain exposed to swings in rainfall, grid curtailment and deviation penalties. Rapid growth therefore demands steady execution and supportive hydrology while leverage stays elevated. Will the added assets deliver reliable cash flows or will variability and funding needs keep pressure on returns?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Independent Power Producers · 77 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−66.3% · Bottom 25%
Profitability
Return on equity (12 months)7.8% · Below median
Return on assets1.8% · Below median
Net margin (12 months)11.5% · Above median
Operating margin (12 months)42.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)23.0% · Top 25%
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity2.11× · Highest 25%
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
P/E (12 months)41.2× · Priciest 25%
P/B2.99× · Priciest 25%
P/S (12 months)4.56× · Priciest 25%
EV/EBITDA14.1× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 22
FUTURE (revenue growth)100· sector 2
PAST (return on equity)31· sector 33
HEALTH (low debt)0· sector 72
DIVIDEND (yield)8· sector 59
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "JSW Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/JSWENERGY
Frequently asked questions
Is JSW Energy Limited (JSWENERGY) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of ₹176.56 versus a price of ₹523.35, about 66% lower (overvalued).
What is the fair value of JSWENERGY?
Our model-based fair value for JSW Energy Limited is ₹176.56 (as of Nov 4, 2026), built from audited fundamentals. The current price: ₹523.35.
What is the quality score of JSWENERGY?
JSW Energy Limited has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JSW Energy Limited (JSWENERGY)?
Our model-based price target is the fair value of ₹176.56 (as of Nov 4, 2026) from 15 valuation models. Cautious scenario ₹132.42, optimistic scenario ₹274.87. It is a calculation from audited fundamentals, not an analyst target.
What is the JSW Energy Limited stock forecast for 2026?
Our models put fair value at ₹176.56, about 66% lower versus a price of ₹523.35 (overvalued). Cautious scenario ₹132.42, optimistic scenario ₹274.87. The calculation is refreshed regularly with new filings.
What is the revenue of JSW Energy Limited (JSWENERGY)?
JSW Energy Limited reported trailing-twelve-month revenue of about ₹202B (latest available figure, as of Nov 4, 2026).
Does JSW Energy Limited pay a dividend?
JSW Energy Limited currently shows a dividend yield of 0.38% relative to its recent price (as of Nov 4, 2026).
What is the intrinsic value of JSW Energy Limited (JSWENERGY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JSW Energy Limited it is ₹176.56 per share (as of Nov 4, 2026), against a price of ₹523.35. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is JSW Energy Limited stock overvalued or undervalued in 2026?
As of Nov 4, 2026, JSWENERGY trades above its calculated fair value: price ₹523.35, fair value ₹176.56, a gap of about −66% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JSWENERGY?
No. The price is what the market pays today (₹523.35); the fair value is what the company's own numbers justify (₹176.56). For JSW Energy Limited the two are ₹346.79 per share apart. That gap is exactly why we show both numbers side by side.
How much is JSW Energy Limited worth?
The market values JSW Energy Limited at about ₹920B (market capitalisation, as of Nov 4, 2026). Per share that is ₹523.35; our models calculate a fair value of ₹176.56 per share.
What do the bullish and bearish scenarios say about JSWENERGY?
Our models span a range for JSW Energy Limited: cautious scenario ₹132.42, base ₹176.56, optimistic ₹274.87 per share (as of Nov 4, 2026, price ₹523.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JSWENERGY?
JSW Energy Limited trades at a price-to-earnings ratio of 41.2 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹176.56 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 27.8. Other multiples: P/B 3.0, P/S 4.6, EV/EBITDA 14.1.
How solid is the balance sheet of JSW Energy Limited (JSWENERGY)?
Balance-sheet figures for JSW Energy Limited (as of Nov 4, 2026): return on equity 7.8%, debt of 2.11 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is JSWENERGY from its 52-week high?
JSW Energy Limited trades at ₹523.35, about 13% below its 52-week high of ₹600.01 and 19% above the low of ₹438.56 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹176.56 is for.
Which stocks are comparable to JSW Energy Limited?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is JSW Energy Limited stock attractive at the current price?
The data as of Nov 4, 2026: price ₹523.35, calculated fair value ₹176.56 (−66%), Quality Score 37/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JSWENERGY calculated?
We run JSW Energy Limited through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹176.56, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. JSW Energy Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of JSW Energy Limited (JSWENERGY)?
The closing price on Nov 5, 2026 was ₹523.35. Our model-based fair value is ₹176.56, about 66% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JSW Energy Limited right now?
The price sits above even our optimistic bull case (₹274.87). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹132.42 to ₹274.87) leaves room in how you read the outcome.
Where does the earnings growth of JSW Energy Limited (JSWENERGY) come from?
Earnings per share at JSW Energy Limited grew +5.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.3 %, EBIT margin +0.0 %, tax rate +4.0 %, residual (interest, one-offs) −2.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of JSW Energy Limited
How large is the market capitalisation of JSW Energy Limited (JSWENERGY)?
The market capitalisation of JSW Energy Limited is ₹920B (≈ $9.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JSW Energy Limited (JSWENERGY)?
The price-to-sales ratio of JSW Energy Limited is 4.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JSW Energy Limited (JSWENERGY)?
Earnings per share at JSW Energy Limited are ₹12.70 (price ÷ EPS = P/E 41.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of JSW Energy Limited (JSWENERGY)?
The dividend yield of JSW Energy Limited is 0.4% (payout 15.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of JSW Energy Limited (JSWENERGY)?
The net margin of JSW Energy Limited is 11.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of JSW Energy Limited (JSWENERGY)?
The return on equity (ROE) of JSW Energy Limited is 7.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of JSW Energy Limited (JSWENERGY)?
On an EBIT basis the return on assets of JSW Energy Limited is 8.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of JSW Energy Limited (JSWENERGY)?
The operating margin of JSW Energy Limited is 42.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JSW Energy Limited (JSWENERGY)?
Revenue at JSW Energy Limited is growing +23.0% versus a year earlier (3y avg +22.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at JSW Energy Limited (JSWENERGY)?
Earnings per share at JSW Energy Limited are growing +39.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does JSW Energy Limited (JSWENERGY) generate?
The free cash flow of JSW Energy Limited is −₹59.8B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does JSW Energy Limited (JSWENERGY) carry?
The net debt of JSW Energy Limited is ₹712B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 4, 2026