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SpiceJet Limited (500285) fair value: what the stock is really worth
As of Oct 27, 2026: fair value (intrinsic value) of SpiceJet Limited stock ₹4.26, price ₹8.07, upside -47.2%, quality 23 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Thin data
Oct 21, 2026
Thin data
Oct 21, 2026
SpiceJet Limited
500285 · BSEWeakest SetupStrongly overvalued and low quality.
Our calculation puts a fair price 47% below what the stock costs today.
Loss over the last twelve months · -17.8% net margin (TTM) · fiscal year 2025 1.2%
Negative equity (buybacks among others)
Fair value ₹4.26 · Strongly overvalued (−47.2%)
Quality 23/100
Weak Growth (revenue 5y −15.5 %/yr in INR)
Negative free cash flow
Trails peers (2/10)
Narrow moat 10/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 21, 2026.
How to read this chart
60‑month range ₹7.71 – ₹84.55 · fair‑value band ₹3.19 – ₹5.32 · the ₹8.07 price screens above the ₹4.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 21, 2026.
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Company profile
SpiceJet Limited provides air transportation services in India. The company offers passengers and cargo air transportation services under the SpiceJet brand. As of July 31, 2019, it operated 111 fleets covering 62 destinations, which include 53 domestic and 9 international destinations.
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SpiceJet Limited was incorporated in 1984 and is headquartered in Gurugram, India.
Stock analysis
SpiceJet Limited (500285) currently trades at ₹8.07, while our model-based Fair Value estimate is ₹4.26, 47.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹13.81 per share, and 1 of the 6 models we run sit above the ₹8.07 price.
Bear case: the Earnings-Based group reads lowest at ₹0.9800, and 5 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹3.19 (bear) to ₹5.32 (bull), the price of ₹8.07 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 23/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
SpiceJet Limited reported revenue of ₹53.3B in FY2025 versus ₹51.7B in FY2021, a compound +0.7%/yr. Reported net income was ₹628M in FY2025.
Key figures
Market cap ₹28.8B (≈ $303M) Small · P/E ratio 3.6 · P/S ratio 0.04 · EPS (TTM) ₹9.27 · Net margin 1.2% · Return on assets (EBIT) −14.9% · Operating margin −16.4% · Revenue (TTM) ₹81.1B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 79% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 52% fair-value upside, at −47%, 500285 screens richer than that median.
Fair Value models
Bear ₹3.19
Fair Value ₹4.26
Bull ₹5.32
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 2025 figures (about 12 months old). Earnings retained since then (₹9.27 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
Owner Earnings
₹10.10
₹13.81
₹18.07
78
Growth-Adj P/E
₹2.50
₹3.56
₹4.63
67
Graham-Dodd
₹1.38
₹3.61
₹4.71
65
All 6 models by family
DCF Models
Owner Earnings
₹10.10
₹13.81
₹18.07
78
Earnings-Based
Graham-Dodd
₹1.38
₹3.61
₹4.71
65
PEG = 1.0
₹0.6900
₹0.9800
₹1.28
57
Multiples
P/E Multiple
₹3.19
₹4.26
₹5.32
63
P/S Multiple
₹2.59
₹3.45
₹4.31
58
Growth Earnings
Growth-Adj P/E
₹2.50
₹3.56
₹4.63
67
Quality Score breakdown
Overall quality
23/100
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Profitability
32
How much profit the company makes from its sales and capital
Quality Growth
34
Are margins and returns getting better?
Cashflow
0
Do the profits arrive as real cash?
Financial strength
1
Debt, balance sheet and risk of trouble
Investment
100
Does it invest with discipline instead of growing at any price?
Low Volatility
38
How calm the share price moves, does not count
Momentum
2
Price trend of the last 3 to 12 months, does not count
Near the 52-week high
1
Distance to the 52-week high, does not count
New shares
0
Buys back shares or issues new ones?
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.
14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.8%
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.
−6.9%
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.
−15.5%
Start year 2020 (pandemic). Over 10 years: +0.2% a year
Revenue growth 11 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.
−1.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
−4.0% (2020) → −17.1% (2025)
500285 screens overvalued: fair value 47% below the price. Compare with Delta Air Lines, Inc →
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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.Airlines · 59 stocks
Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation Multiplesvs Airlines median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: Indian Stocks
- Valuation of the India 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 Airlines stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Cathay Pacific Airways Limited 0293 | HK$13.28 | HK$33.87 | +155% | vs 500285 |
| LATAM Airlines Group LTM | $48.09 | $106.79 | +122% | vs 500285 |
| Ryanair Holdings RYA | €22.53 | €48.58 | +116% | vs 500285 |
| Delta Air Lines, Inc DAL | $79.16 | $120.74 | +53% | vs 500285 |
| United Airlines Holdings UAL | $97.93 | $149.01 | +52% | vs 500285 |
| Singapore Airlines Limited C6L | 6.62 SGD | 9.75 SGD | +47% | vs 500285 |
| Deutsche Lufthansa AG LHA | €6.97 | €9.73 | +40% | vs 500285 |
| InterGlobe Aviation Limited INDIGO | ₹4,642 | ₹3,073 | −34% | vs 500285 |
| China Southern Airlines Company 600029 | ¥4.77 | ¥2.78 | −42% | vs 500285 |
| Southwest Airlines Co LUV | $41.75 | $14.74 | −65% | vs 500285 |
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Frequently asked questions
Is SpiceJet Limited (500285) overvalued or undervalued?
As of Oct 21, 2026, our model estimates a fair value of ₹4.26 versus a price of ₹8.07, about −47% upside (overvalued).
What is the fair value of 500285?
Our model-based fair value for SpiceJet Limited is ₹4.26 (as of Oct 21, 2026), built from audited fundamentals. The current price: ₹8.07.
What is the quality score of 500285?
SpiceJet Limited has a Quality Score of 23/100. 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 SpiceJet Limited (500285)?
Our model-based price target is the fair value of ₹4.26 (as of Oct 21, 2026) from 6 valuation models. Cautious scenario ₹3.19, optimistic scenario ₹5.32. It is a calculation from audited fundamentals, not an analyst target.
What is the SpiceJet Limited stock forecast for 2026?
Our models put fair value at ₹4.26, about −47% upside versus a price of ₹8.07 (overvalued). Cautious scenario ₹3.19, optimistic scenario ₹5.32. The calculation is refreshed regularly with new filings.
What is the revenue of SpiceJet Limited (500285)?
SpiceJet Limited reported trailing-twelve-month revenue of about ₹81.1B (latest available figure, as of Oct 21, 2026).
What is the intrinsic value of SpiceJet Limited (500285)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SpiceJet Limited it is ₹4.26 per share (as of Oct 21, 2026), against a price of ₹8.07. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is SpiceJet Limited stock overvalued or undervalued in 2026?
As of Oct 21, 2026, 500285 trades above its calculated fair value: price ₹8.07, fair value ₹4.26, a gap of about −47% (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 500285?
No. The price is what the market pays today (₹8.07); the fair value is what the company's own numbers justify (₹4.26). For SpiceJet Limited the two are ₹3.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is SpiceJet Limited worth?
The market values SpiceJet Limited at about ₹28.8B (market capitalisation, as of Oct 21, 2026). Per share that is ₹8.07; our models calculate a fair value of ₹4.26 per share.
What do the bullish and bearish scenarios say about 500285?
Our models span a range for SpiceJet Limited: cautious scenario ₹3.19, base ₹4.26, optimistic ₹5.32 per share (as of Oct 21, 2026, price ₹8.07). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500285?
SpiceJet Limited trades at a price-to-earnings ratio of 3.6 (as of Oct 21, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹4.26 is built from several models across several years. Other multiples: P/S 0.4, EV/EBITDA 7.8.
How solid is the balance sheet of SpiceJet Limited (500285)?
Balance-sheet figures for SpiceJet Limited (as of Oct 21, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is 500285 from its 52-week high?
SpiceJet Limited trades at ₹8.07, about 79% below its 52-week high of ₹38.46 and 5% above the low of ₹7.71 (as of Oct 27, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.26 is for.
Which stocks are comparable to SpiceJet Limited?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, Southwest Airlines 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 SpiceJet Limited stock attractive at the current price?
The data as of Oct 21, 2026: price ₹8.07, calculated fair value ₹4.26 (−47%), Quality Score 23/100, 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 500285 calculated?
We run SpiceJet Limited through 6 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 ₹4.26, 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 13.2 % above its aggregate fair value. SpiceJet 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 SpiceJet Limited (500285)?
The closing price on Oct 27, 2026 was ₹8.07. Our model-based fair value is ₹4.26, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SpiceJet Limited right now?
The price sits above even our optimistic bull case (₹5.32). The favourable scenario is already priced in. Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of SpiceJet Limited
How large is the market capitalisation of SpiceJet Limited (500285)?
The market capitalisation of SpiceJet Limited is ₹28.8B (≈ $303M). 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 SpiceJet Limited (500285)?
The price-to-sales ratio of SpiceJet Limited is 0.04 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SpiceJet Limited (500285)?
Earnings per share at SpiceJet Limited are ₹9.27 (price ÷ EPS = P/E 3.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SpiceJet Limited (500285)?
The net margin of SpiceJet Limited is 1.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of SpiceJet Limited (500285)?
On an EBIT basis the return on assets of SpiceJet Limited is −14.9% (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 SpiceJet Limited (500285)?
The operating margin of SpiceJet Limited is −16.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SpiceJet Limited (500285)?
Revenue at SpiceJet Limited is growing −62.4% versus a year earlier (3y avg −6.9%). 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 SpiceJet Limited (500285)?
Earnings per share at SpiceJet Limited are growing +32.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SpiceJet Limited (500285) generate?
The free cash flow of SpiceJet Limited is −₹17.7B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SpiceJet Limited (500285) carry?
The net debt of SpiceJet Limited is ₹8.5B (fiscal year 2025). 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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