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Data-driven stock valuation

Yes Bank Limited (YESBANK) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Yes Bank Limited stock ₹12.70, price ₹17.20, that is 26.2% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services IN · ISIN INE528G01035

YB Yes Bank Limited logo Thin data Nov 8, 2026

Yes Bank Limited

YESBANK · NSE
Solid, but expensive

Our calculation puts a fair price 26% below what the stock costs today.

Highly profitable · 24.5% net margin (TTM)
Last quarter vs. a year ago: revenue +24%, profit +62%.
Quality 54/100
Mixed Growth (revenue 5y +11.4 %/yr in INR)
Moderate moat 62/100 · thin data
Fair value ₹12.70 · Overvalued (−26.2%)
Trails peers (4/13)
Thin data

Risks from the AI analysis

🚩AT-1 bond ruling could hit capital
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹31.40 ₹10.80 Fair Value ₹12.70 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range ₹10.80 – ₹31.40 · fair‑value band ₹12.22 – ₹14.21 · the ₹17.20 price screens above the ₹12.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

Yes Bank Limited engages in the provision of various banking and financial products and services in India. It operates through Treasury, Corporate Banking /Wholesale Banking, Retail Banking, and Other Banking Operations segments.

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The company provides current, savings, and salary accounts; fixed and recurring deposits; home, car, construction equipment, commercial vehicle, personal, education, housing, and secured business loans; loans against securities and property; and rural and agri loans, as well as micro, small, and medium enterprises loans.

It also offers working capital, supply chain, equipment, agri and trade finance, as well as foreign currency loans and term lending; and cash management, capital markets, treasury, investment banking solution, trade advisory, debt capital markets, bullion, overseas financing, liquidity and risk management, invoice management, and escrow services.

In addition, the company offers digital banking and payment; financial, banking, technology-led solutions, and strategic advisory services to ministries under the union and state governments, central and state public sector undertakings, boards, and other affiliates; banking solutions to cooperative banks; digital and transaction banking solutions for non-banking finance companies, insurance, mutual funds, and capital market entities; and asset book building services.

Further, it provides debit and credit cards, wealth management, and mobile and online banking services; transaction banking services; merchant acquiring; and remittance solutions, as well as operates ATMs and bulk note acceptors.

The company was incorporated in 2003 and is headquartered in Mumbai, India.

Stock analysis

Yes Bank Limited (YESBANK) currently trades at ₹17.20, while our model-based Fair Value estimate is ₹12.70, 26% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ₹16.29 per share, and 1 of the 4 models we run sit above the ₹17.20 price.

Bear case: the Asset-Based group reads lowest at ₹9.52, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.

Scenario range: ₹12.22 (bear) to ₹14.21 (bull), the price of ₹17.20 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 54/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Yes Bank Limited reported revenue of ₹373B in FY2026 versus ₹216B in FY2022, a compound +14.6%/yr. Reported net income was ₹35.1B in FY2026, compounding +34.8%/yr from FY2022.

Key figures

Market cap ₹539B (≈ $5.7B) Mid · P/E ratio 13.0 · P/S ratio 3.15 · EPS (TTM) ₹1.32 · Net margin 24.5% · Return on equity 8.2% · Return on assets (EBIT) 0.5% (5-year average) · Operating margin 30.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −26%, YESBANK screens cheaper than that median.

Fair Value models

Bear ₹12.22 Fair Value ₹12.70 Bull ₹14.21
Price ₹17.20 · Downside -26.2%
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 (₹0.8028 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.
Best data coverage
Residual Income ₹12.40 ₹12.70 ₹13.73 71
P/E Multiple ₹10.91 ₹14.54 ₹18.18 63
P/B Multiple ₹13.53 ₹18.04 ₹22.55 55
All 4 models by family
Multiples
P/E Multiple ₹10.91 ₹14.54 ₹18.18 63
P/B Multiple ₹13.53 ₹18.04 ₹22.55 55
Asset-Based
NCAV (Graham) ₹7.11 ₹9.52 ₹14.21 54
Economic Profit
Residual Income ₹12.40 ₹12.70 ₹13.73 71

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Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 47
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 27
Debt, balance sheet and risk of trouble
Investment 71
Does it invest with discipline instead of growing at any price?
Low Volatility 79
How calm the share price moves, does not count
Price momentum 18
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 13
Distance to the 52-week high, does not count
New shares 49
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.0%
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.
+15.6%
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.
+11.4%
Start year 2021 (pandemic). Over 10 years: +8.7% a year
Revenue growth 21 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.
+37.3%
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
≈ +49.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +49.6%
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.base effect: 21.4% / −21.0%
Profit margin 2021 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.−16% → 13%
2026 sits 156% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 15.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2021 (starting value 0.42 per share, median 13.6 in 2016 to 2019). It measures the recovery from the trough, not lasting growth.

YESBANK screens overvalued: fair value 26% below the price. Compare with China Merchants Bank Co →

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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.Banks - Regional · 998 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside −26.2% · Below median
Profitability
Return on equity (12 months) 8.2% · Below median
Return on assets 0.8% · Below median
Net margin (12 months) 24.5% · Below median
Operating margin (12 months) 30.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 23.7% · Top 25%
Balance sheet
Debt / equity 1.41× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 13.0× · Pricier than median
P/B 1.05× · Cheaper than median
P/S (12 months) 3.15× · Cheaper than median
Price / free cash flow (fiscal year) 3.8× · Cheapest 25%
EV/EBITDA 16.8× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)100 · sector 47
PAST (return on equity)33 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)0 · sector 53

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs YESBANK
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs YESBANK
BNP Paribas SA BNP €91.93 €106.01 +15% vs YESBANK
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs YESBANK
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs YESBANK
UniCredit S.p.A UCG €76.80 €50.44 −34% vs YESBANK
Mizuho Financial Group MFG $9.40 $5.90 −37% vs YESBANK
DBS Group D05 69.72 SGD 40.39 SGD −42% vs YESBANK
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs YESBANK
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs YESBANK

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Yes Bank Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Yes Bank Limited Fair Value". https://www.fairvalue-calculator.com/stock/YESBANK

Frequently asked questions

Is Yes Bank Limited (YESBANK) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ₹12.70 versus a price of ₹17.20, about 26% lower (overvalued).
What is the fair value of YESBANK?
Our model-based fair value for Yes Bank Limited is ₹12.70 (as of Nov 8, 2026), built from audited fundamentals. The current price: ₹17.20.
What is the quality score of YESBANK?
Yes Bank Limited has a Quality Score of 54/100. 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 Yes Bank Limited (YESBANK)?
Our model-based price target is the fair value of ₹12.70 (as of Nov 8, 2026) from 4 valuation models. Cautious scenario ₹12.22, optimistic scenario ₹14.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Yes Bank Limited stock forecast for 2026?
Our models put fair value at ₹12.70, about 26% lower versus a price of ₹17.20 (overvalued). Cautious scenario ₹12.22, optimistic scenario ₹14.21. The calculation is refreshed regularly with new filings.
What is the revenue of Yes Bank Limited (YESBANK)?
Yes Bank Limited reported trailing-twelve-month revenue of about ₹171B (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Yes Bank Limited (YESBANK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yes Bank Limited it is ₹12.70 per share (as of Nov 8, 2026), against a price of ₹17.20. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Yes Bank Limited stock overvalued or undervalued in 2026?
As of Nov 8, 2026, YESBANK trades above its calculated fair value: price ₹17.20, fair value ₹12.70, a gap of about −26% (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 YESBANK?
No. The price is what the market pays today (₹17.20); the fair value is what the company's own numbers justify (₹12.70). For Yes Bank Limited the two are ₹4.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Yes Bank Limited worth?
The market values Yes Bank Limited at about ₹539B (market capitalisation, as of Nov 8, 2026). Per share that is ₹17.20; our models calculate a fair value of ₹12.70 per share.
What do the bullish and bearish scenarios say about YESBANK?
Our models span a range for Yes Bank Limited: cautious scenario ₹12.22, base ₹12.70, optimistic ₹14.21 per share (as of Nov 8, 2026, price ₹17.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of YESBANK?
Yes Bank Limited trades at a price-to-earnings ratio of 13.0 (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 ₹12.70 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2018 to 2026), reported earnings: 29.0. Other multiples: P/B 1.1, P/S 3.1, EV/EBITDA 16.8.
How solid is the balance sheet of Yes Bank Limited (YESBANK)?
Balance-sheet figures for Yes Bank Limited (as of Nov 8, 2026): return on equity 8.2%, debt of 1.41 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is YESBANK from its 52-week high?
Yes Bank Limited trades at ₹17.20, about 32% below its 52-week high of ₹25.48 and 14% above the low of ₹15.15 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹12.70 is for.
Which stocks are comparable to Yes Bank Limited?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, 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 Yes Bank Limited stock attractive at the current price?
The data as of Nov 8, 2026: price ₹17.20, calculated fair value ₹12.70 (−26%), Quality Score 54/100, from 4 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 YESBANK calculated?
We run Yes Bank Limited through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹12.70 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 13.0% above its aggregate fair value. Yes Bank 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 Yes Bank Limited (YESBANK)?
The closing price on Nov 6, 2026 was ₹17.20. Our model-based fair value is ₹12.70, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yes Bank Limited right now?
The price sits above even our optimistic bull case (₹14.21). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Yes Bank Limited (YESBANK) come from?
Earnings per share at Yes Bank Limited grew −26.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share −19.0 %, EBIT margin −7.5 %, tax rate +1.5 %, residual (interest, one-offs) −3.2 %. 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 Yes Bank Limited

How large is the market capitalisation of Yes Bank Limited (YESBANK)?
The market capitalisation of Yes Bank Limited is ₹539B (≈ $5.7B). 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 Yes Bank Limited (YESBANK)?
The price-to-sales ratio of Yes Bank Limited is 3.15 (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 Yes Bank Limited (YESBANK)?
Earnings per share at Yes Bank Limited are ₹1.32 (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Yes Bank Limited (YESBANK)?
The net margin of Yes Bank Limited is 24.5% (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 Yes Bank Limited (YESBANK)?
The return on equity (ROE) of Yes Bank Limited is 8.2% (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 Yes Bank Limited (YESBANK)?
On an EBIT basis the return on assets of Yes Bank Limited is 0.5% (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 Yes Bank Limited (YESBANK)?
The operating margin of Yes Bank Limited is 30.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yes Bank Limited (YESBANK)?
Revenue at Yes Bank Limited is growing +23.7% versus a year earlier (3y avg +15.6%). 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 Yes Bank Limited (YESBANK)?
Earnings per share at Yes Bank Limited are growing +61.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Yes Bank Limited (YESBANK) generate?
The free cash flow of Yes Bank Limited is ₹141B (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 Yes Bank Limited (YESBANK) carry?
The net debt of Yes Bank Limited is ₹271B (fiscal year 2026, ≈ 1.9 yrs of FCF). 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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