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DB (International) Stock Brokers Limited (DBSTOCKBRO) Fair Value & Analysis

Financial Services · IN · Market cap ₹1.1B

DI DB (International) Stock Brokers Limited DBSTOCKBRO · NSE
Price₹32.44
Fair Value₹15.12
Upside-53.4%
Quality57/100
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Mixed Growth
Solidly profitable · 14.6% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Moderate moat 49/100
Evidence: High Range ₹11.34 – ₹18.90 Share as image

Fair value as of: Aug 2, 2026

From 9 valuation models · updated 11 days ago

Share price −20.9% over the past month.

A solid business, but screening 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹18.90). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

₹67.25 ₹8.20 Fair Value ₹15.12 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹8.20 – ₹67.25 · fair‑value band ₹11.34 – ₹18.90 · the ₹32.44 price screens above the ₹15.12 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

DB (International) Stock Brokers Limited (DBSTOCKBRO) currently trades at ₹32.44, while our model-based Fair Value estimate is ₹15.12, implying the stock looks roughly 53.4% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, DB (International) Stock Brokers Limited generated revenue of ₹290M at a net margin of 14.6%. Revenue declined 28.7% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of ₹945M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹11.34 (bear case) to ₹18.90 (bull case); at ₹32.44, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 16% fair-value upside, at -53%, DBSTOCKBRO screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income ₹15.21 ₹14.76 ₹12.39 76
Gordon GGM ₹2.33 ₹4.20 ₹5.78 70
P/E Multiple ₹8.67 ₹11.57 ₹14.46 63
All 9 models by family
DCF Models
Owner Earnings ₹39.08 ₹52.04 ₹76.08 31
Earnings-Based
Graham-Dodd ₹6.05 ₹42.19 ₹59.20 54
Lynch FV ₹21.80 ₹31.14 ₹40.48 50
Dividend Discount
Gordon GGM ₹2.33 ₹4.20 ₹5.78 70
DDM Multi-Stage ₹2.33 ₹3.84 ₹4.49 61
Multiples
P/E Multiple ₹8.67 ₹11.57 ₹14.46 63
P/B Multiple ₹11.34 ₹15.12 ₹18.90 55
Asset-Based
NCAV (Graham) ₹10.81 ₹14.49 ₹21.63 50
Economic Profit
Residual Income ₹15.21 ₹14.76 ₹12.39 76

Widest divergence: DCF Models (₹52.04) versus Dividend Discount (₹3.84). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹290M
Revenue growth (YoY) -28.7%
Net margin 14.6%
Return on equity 6.6%
Free cash flow −₹485K FY2026
P/E ratio 34.4
More key figures
Operating margin 18.5%
EPS (TTM) ₹0.8900
EPS growth (YoY) -16.7%
Net cash ₹945M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 52 · Market factors (momentum, volatility) 74

Profitability 27
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

DB (International) Stock Brokers Limited provides stock broking and depository participant services of CDSL primarily in India. The company offers equity and derivatives trading; mutual fund and initial public offering investment; and procurement of permanent account number cards and RBI permissions.

Full company description

DB (International) Stock Brokers Limited provides stock broking and depository participant services of CDSL primarily in India. The company offers equity and derivatives trading; mutual fund and initial public offering investment; and procurement of permanent account number cards and RBI permissions. It also engages in currency and commodity broking; margin trading; provision of depository and portfolio management services; distribution of mutual funds business. DB (International) Stock Brokers Limited was incorporated in 1992 and is based in New Delhi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

DB (International) Stock Brokers Limited reported revenue of ₹277M in FY2026 versus ₹262M in FY2022, a compound +1.3%/yr. Reported net income was ₹31.1M in FY2026, compounding −22.5%/yr from FY2022.

Growth Quality 51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹277M
Latest YoY
+77.0%
Avg. growth/yr (3Y) 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.
+43.5%
Avg. growth/yr (5Y) 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.
+12.5%
Avg. growth/yr (19Y) 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.
+9.4%
Revenue +1.3%/yr
FY22 ₹262M
FY23 ₹93.7M
FY24 ₹130M
FY25 ₹156M
FY26 ₹277M
Net income −22.5%/yr
FY22 ₹86.4M
FY23 ₹63.8M
FY24 ₹90.5M
FY25 ₹57.9M
FY26 ₹31.1M

DBSTOCKBRO screens 53% overvalued. Compare with Mirae Asset Securities Co →

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Cite: Fair Value Calculator (2026). "DB (International) Stock Brokers Limited Fair Value". https://www.fairvalue-calculator.com/stock/DBSTOCKBRO

Peer Group

Capital Markets · 425 stocks

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.

Quality Score 56 · Above median
Fair Value upside −53% · Below median
Return on equity (TTM) 7% · Below median
Return on assets 3% · Above median
Net margin (TTM) 15% · Below median
Operating margin (TTM) 18% · Below median
Revenue growth -29% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 34.4× · Pricier than 75% of peers
P/B 1.42× · Pricier than median
P/S (TTM) 3.71× · Pricier than median
EV/EBITDA 2.3× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 11
FUTURE 0 · sector 96
PAST 26 · sector 31
HEALTH 99 · sector 93
DIVIDEND 0 · sector 36

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Mirae Asset Securities Co 006800 38,750 KRW 31,645 KRW -18%
Meritz Financial Group 138040 117,000 KRW 87,706 KRW -25%
Korea Investment Holdings 071050 239,000 KRW 318,825 KRW +33%
NH Investment & Securities Co 005940 31,000 KRW 37,133 KRW +20%
Samsung Securities Co 016360 107,700 KRW 126,487 KRW +17%
Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%
Daishin Securities Co 003540 26,200 KRW 46,660 KRW +78%

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Frequently asked questions

Is DB (International) Stock Brokers Limited (DBSTOCKBRO) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹15.12 versus a price of ₹32.44, about −53% (overvalued).
What is the fair value of DBSTOCKBRO?
Our model-based fair value for DB (International) Stock Brokers Limited is ₹15.12 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹32.44.
What is the quality score of DBSTOCKBRO?
DB (International) Stock Brokers Limited has a Quality Score of 57/100. 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 revenue of DB (International) Stock Brokers Limited (DBSTOCKBRO)?
DB (International) Stock Brokers Limited reported trailing-twelve-month revenue of about ₹290M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of DBSTOCKBRO?
The net profit margin of DB (International) Stock Brokers Limited is about 14.6%, meaning it keeps roughly 14.6% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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