Arman Financial Services Limited (ARMANFIN) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Arman Financial Services Limited stock ₹698, price ₹1,630, that is 57.2% below the price, quality 33 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range ₹643.15 – ₹2,641 · fair‑value band ₹543.42 – ₹872.19 · the ₹1,630 price screens above the ₹697.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Arman Financial Services Limited, together with its subsidiary, operates as a non-banking finance company in India. The company offers micro, small, and medium enterprise loans; two wheeler loans; and micro finance loans as well as individual business loans and loan against property.
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The company was formerly known as Arman Lease and Finance Limited and changed its name to Arman Financial Services Limited in November 2008. Arman Financial Services Limited was incorporated in 1992 and is headquartered in Ahmedabad, India.
Stock analysis
Arman Financial Services Limited (ARMANFIN) currently trades at ₹1,630, while our model-based Fair Value estimate is ₹697.75, 57% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of ₹2,119 per share, and 2 of the 6 models we run sit above the ₹1,630 price.
Bear case: the Economic Profit group reads lowest at ₹588.34, and 4 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹543.42 (bear) to ₹872.19 (bull), the price of ₹1,630 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 33/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Arman Financial Services Limited reported revenue of ₹6.1B in FY2026 versus ₹2.2B in FY2022, a compound +28.6%/yr. Reported net income was ₹566M in FY2026, compounding +15.6%/yr from FY2022.
Key figures
Market cap ₹17.2B (≈ $184M) Micro · P/E ratio 14.8 · P/S ratio 4.56 · EPS (TTM) ₹110.05 · Net margin 30.8% · Return on equity 6.3% · Return on assets (EBIT) 6.8% (5-year average) · Operating margin 48.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −1% fair-value upside, at −57%, ARMANFIN screens richer than that median.
Fair Value models
Bear₹543.42Fair Value ₹697.75Bull₹872.19
Price ₹1,630 · Downside -57.2%
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 (₹67.84 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
−1.2%
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.
+16.2%
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.
+26.5%
Start year 2021 (pandemic). Over 10 years: +31.1% a year
Revenue growth 19 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.
+31.9%
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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. Basis: EBIT basis. 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.
+21.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.1%
Dividend (yield on the price)0.0%
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.7.4% vs 19.3%, slowing
Profit margin 2020 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.27% → 31%
Compare Arman Financial Services Limited with another stock
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.Credit Services · 325 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside−57.2% · Bottom 25%
Profitability
Return on equity (12 months)6.3% · Below median
Return on assets2.0% · Below median
Net margin (12 months)30.8% · Above median
Operating margin (12 months)48.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)265.7% · Top 25%
Balance sheet
Debt / equity1.90× · Above median
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (12 months)14.8× · Pricier than median
P/B1.85× · Pricier than median
P/S (12 months)4.56× · Pricier than median
EV/EBITDA17.9× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)100· sector 55
PAST (return on equity)25· sector 34
HEALTH (low debt)5· sector 58
DIVIDEND (yield)0· sector 63
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.
Is Arman Financial Services Limited (ARMANFIN) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ₹697.75 versus a price of ₹1,630, about 57% lower (overvalued).
What is the fair value of ARMANFIN?
Our model-based fair value for Arman Financial Services Limited is ₹697.75 (as of Nov 8, 2026), built from audited fundamentals. The current price: ₹1,630.
What is the quality score of ARMANFIN?
Arman Financial Services Limited has a Quality Score of 33/100. 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 Arman Financial Services Limited (ARMANFIN)?
Our model-based price target is the fair value of ₹697.75 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario ₹543.42, optimistic scenario ₹872.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Arman Financial Services Limited stock forecast for 2026?
Our models put fair value at ₹697.75, about 57% lower versus a price of ₹1,630 (overvalued). Cautious scenario ₹543.42, optimistic scenario ₹872.19. The calculation is refreshed regularly with new filings.
What is the revenue of Arman Financial Services Limited (ARMANFIN)?
Arman Financial Services Limited reported trailing-twelve-month revenue of about ₹3.8B (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Arman Financial Services Limited (ARMANFIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arman Financial Services Limited it is ₹697.75 per share (as of Nov 8, 2026), against a price of ₹1,630. It is the blended result of 6 valuation models in 4 families (Earnings-Based, Multiples, Asset-Based, Economic Profit).
Is Arman Financial Services Limited stock overvalued or undervalued in 2026?
As of Nov 8, 2026, ARMANFIN trades above its calculated fair value: price ₹1,630, fair value ₹697.75, a gap of about −57% (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 ARMANFIN?
No. The price is what the market pays today (₹1,630); the fair value is what the company's own numbers justify (₹697.75). For Arman Financial Services Limited the two are ₹932.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arman Financial Services Limited worth?
The market values Arman Financial Services Limited at about ₹17.2B (market capitalisation, as of Nov 8, 2026). Per share that is ₹1,630; our models calculate a fair value of ₹697.75 per share.
What do the bullish and bearish scenarios say about ARMANFIN?
Our models span a range for Arman Financial Services Limited: cautious scenario ₹543.42, base ₹697.75, optimistic ₹872.19 per share (as of Nov 8, 2026, price ₹1,630). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ARMANFIN?
Arman Financial Services Limited trades at a price-to-earnings ratio of 14.8 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹697.75 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 22.8. Other multiples: P/B 1.9, P/S 4.6, EV/EBITDA 17.9.
How solid is the balance sheet of Arman Financial Services Limited (ARMANFIN)?
Balance-sheet figures for Arman Financial Services Limited (as of Nov 8, 2026): return on equity 6.3%, debt of 1.90 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is ARMANFIN from its 52-week high?
Arman Financial Services Limited trades at ₹1,630, about 21% below its 52-week high of ₹2,069 and 22% above the low of ₹1,339 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹697.75 is for.
Which stocks are comparable to Arman Financial Services Limited?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Arman Financial Services Limited stock attractive at the current price?
The data as of Nov 8, 2026: price ₹1,630, calculated fair value ₹697.75 (−57%), Quality Score 33/100, from 6 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 ARMANFIN calculated?
We run Arman Financial Services Limited through 6 models from 4 families: Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹697.75 builds on their evidence-weighted average, 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 15.1% above its aggregate fair value. Arman Financial Services 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 Arman Financial Services Limited (ARMANFIN)?
The closing price on Nov 9, 2026 was ₹1,630. Our model-based fair value is ₹697.75, about 57% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arman Financial Services Limited right now?
The price sits above even our optimistic bull case (₹872.19). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Arman Financial Services Limited (ARMANFIN) come from?
Earnings per share at Arman Financial Services Limited grew +28.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +29.3 %, EBIT margin +2.6 %, tax rate +1.6 %, residual (interest, one-offs) −4.7 %. 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 Arman Financial Services Limited
How large is the market capitalisation of Arman Financial Services Limited (ARMANFIN)?
The market capitalisation of Arman Financial Services Limited is ₹17.2B (≈ $184M). 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 Arman Financial Services Limited (ARMANFIN)?
The price-to-sales ratio of Arman Financial Services 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 Arman Financial Services Limited (ARMANFIN)?
Earnings per share at Arman Financial Services Limited are ₹110.05 (price ÷ EPS = P/E 14.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Arman Financial Services Limited (ARMANFIN)?
The net margin of Arman Financial Services Limited is 30.8% (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 Arman Financial Services Limited (ARMANFIN)?
The return on equity (ROE) of Arman Financial Services Limited is 6.3% (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 Arman Financial Services Limited (ARMANFIN)?
On an EBIT basis the return on assets of Arman Financial Services Limited is 6.8% (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 Arman Financial Services Limited (ARMANFIN)?
The operating margin of Arman Financial Services Limited is 48.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arman Financial Services Limited (ARMANFIN)?
Revenue at Arman Financial Services Limited is growing +266% versus a year earlier (3y avg +16.2%). 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 Arman Financial Services Limited (ARMANFIN)?
Earnings per share at Arman Financial Services Limited are growing +222% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Arman Financial Services Limited (ARMANFIN) generate?
The free cash flow of Arman Financial Services Limited is −₹4.8B (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 Arman Financial Services Limited (ARMANFIN) carry?
The net debt of Arman Financial Services Limited is ₹16.9B (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 8, 2026