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DEN Networks Limited (DEN) Fair Value & Analysis

Communication Services · IN · Market cap ₹14.9B

DN DEN Networks Limited DEN · NSE
Price₹26.99
Fair Value₹54.40
Upside+101.6%
Quality47/100
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Weak Growth
Solidly profitable · 17.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Narrow moat 32/100
Evidence: Medium Range ₹40.44 – ₹67.77 Share as image

Fair value as of: Aug 2, 2026

From 11 valuation models · updated 11 days ago

Fair value updated Aug 2, 2026, revised from ₹59.11 to ₹54.40 (−8.0%) since Jun 29, 2026. Share price −10.3% over the past month.

Below-average quality, screening 102% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (₹40.44). The market is more pessimistic than our downside scenario.
  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

₹65.45 ₹22.98 Fair Value ₹54.40 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 ₹22.98 – ₹65.45 · fair‑value band ₹40.44 – ₹67.77 · the ₹26.99 price screens below the ₹54.40 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

DEN Networks Limited (DEN) currently trades at ₹26.99, while our model-based Fair Value estimate is ₹54.40, implying the stock looks roughly 101.6% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, DEN Networks Limited generated revenue of ₹9.7B at a net margin of 17.0%. Revenue declined 3.0% year over year. It earns a return on equity of 4.4%. The stock trades on a trailing P/E of 9.0. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹40.44 (bear case) to ₹67.77 (bull case); at ₹26.99, the current price sits below 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 37% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -52% fair-value upside, at 102%, DEN screens cheaper 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 ₹59.42 ₹58.74 ₹53.53 76
Gordon GGM ₹0.4100 ₹0.4400 ₹0.5000 70
Growth-Adj P/E ₹40.44 ₹57.77 ₹75.11 68
All 11 models by family
DCF Models
Owner Earnings ₹44.44 ₹61.73 ₹93.74 31
Earnings-Based
Graham-Dodd ₹23.64 ₹28.90 ₹32.51 54
Dividend Discount
Gordon GGM ₹0.4100 ₹0.4400 ₹0.5000 70
DDM Multi-Stage ₹0.4100 ₹0.5100 ₹0.6500 61
Multiples
P/E Multiple ₹57.37 ₹76.49 ₹95.62 63
P/S Multiple ₹44.33 ₹59.11 ₹73.89 58
P/B Multiple ₹44.33 ₹59.11 ₹73.89 55
EV/EBITDA ₹13.33 ₹17.64 ₹21.94 54
Asset-Based
NCAV (Graham) ₹39.69 ₹53.19 ₹79.39 50
Economic Profit
Residual Income ₹59.42 ₹58.74 ₹53.53 76
Growth Earnings
Growth-Adj P/E ₹40.44 ₹57.77 ₹75.11 68

Widest divergence: DCF Models (₹61.73) versus Dividend Discount (₹0.4400). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹9.7B
Revenue growth (YoY) -3.0%
Net margin 17.0%
Return on equity 4.4%
Free cash flow −₹188M FY2026
P/E ratio 9.0
More key figures
Operating margin -2.2%
EPS (TTM) ₹3.48
EPS growth (YoY) -37.7%
Net debt ₹780K FY2026

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 39

Profitability 32
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 13
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

DEN Networks Limited, a media and entertainment company, engages in the distribution of television channels to households through a digital cable distribution network in India. The company operates in Cable and Broadband segments.

Full company description

DEN Networks Limited, a media and entertainment company, engages in the distribution of television channels to households through a digital cable distribution network in India. The company operates in Cable and Broadband segments. It distributes and promotes television channels; and provides visual entertainment through cable TV, over-the-top entertainment, and broadband services, as well as offers internet services. The company was incorporated in 2007 and is headquartered in New Delhi, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

DEN Networks Limited reported revenue of ₹9.7B in FY2026 versus ₹11.8B in FY2022, a compound −4.7%/yr. Reported net income was ₹1.7B in FY2026, compounding −1.5%/yr from FY2022.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
₹9.7B
Latest YoY
−3.1%
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.
−4.1%
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.
−5.5%
Avg. growth/yr (16Y) 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.
+0.4%
Revenue −4.7%/yr
FY22 ₹11.8B
FY23 ₹11.0B
FY24 ₹10.8B
FY25 ₹10.1B
FY26 ₹9.7B
Net income −1.5%/yr
FY22 ₹1.8B
FY23 ₹2.4B
FY24 ₹2.1B
FY25 ₹2.0B
FY26 ₹1.7B

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Cite: Fair Value Calculator (2026). "DEN Networks Limited Fair Value". https://www.fairvalue-calculator.com/stock/DEN

Peer Group

Entertainment · 267 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 47 · Below median
Fair Value upside +102% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets -0% · Below median
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) -2% · Below median
Revenue growth -3% · Below median

Valuation Multiples vs Entertainment median · lower = cheaper

P/E (TTM) 9.0× · Cheaper than 75% of peers
P/B 0.39× · Cheaper than median
P/S (TTM) 1.53× · Pricier than median
EV/EBITDA 21.5× · Pricier 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 100 · sector 6
FUTURE 0 · sector 10
PAST 18 · sector 0
HEALTH 100 · sector 97
DIVIDEND 0 · sector 44

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 Entertainment stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.77 C$2.96 -56%
The Walt Disney Company DIS $96.30 $89.55 -7%
Warner Bros. Discovery, Inc WBD $26.87 $9.13 -66%
Live Nation Entertainment, Inc LYV $178.44 $46.89 -74%
Universal Music Group UMG €18.91 €14.78 -22%
TKO Group TKO $184.40 $22.16 -88%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 60.49 MXN +10%
Beijing Enlight Media Co 300251 ¥11.77 ¥10.97 -7%
PT MNC Digital Entertainment Tbk, MSIN 456.00 IDR 221.09 IDR -52%
Prime Focus Limited PFOCUS ₹298.25 ₹63.45 -79%

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Frequently asked questions

Is DEN Networks Limited (DEN) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹54.40 versus a price of ₹26.99, about +102% (undervalued).
What is the fair value of DEN?
Our model-based fair value for DEN Networks Limited is ₹54.40 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹26.99.
What is the quality score of DEN?
DEN Networks Limited has a Quality Score of 47/100. 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 DEN Networks Limited (DEN)?
DEN Networks Limited reported trailing-twelve-month revenue of about ₹9.7B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of DEN?
The net profit margin of DEN Networks Limited is about 17.0%, meaning it keeps roughly 17.0% 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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