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Fino Payments Bank Limited (FINOPB) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of Fino Payments Bank Limited stock ₹65.71, price ₹126, that is 47.9% below the price, quality 52 out of 100. Rating: strongly 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 INE02NC01014

FP Fino Payments Bank Limited logo Thin data Nov 11, 2026

Fino Payments Bank Limited

FINOPB · NSE
Very expensive, in a downtrend

Our calculation puts a fair price 48% below what the stock costs today.

Quality 52/100
Expensive Growth (revenue 5y +36.9 %/yr in INR)
Loss over the last twelve months · -1.2% net margin (TTM) · fiscal year 2026 3.3%
Revenue last quarter 20% below a year ago.
Fair value ₹65.71 · Strongly overvalued
Trails peers (2/9)
Narrow moat 21/100
Thin data
⚠ Small free float
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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

₹543.90 ₹112.46 Fair Value ₹65.71 Nov 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

60‑month range ₹112.46 – ₹543.90 · fair‑value band ₹65.71 – ₹68.58 · the ₹126.13 price screens above the ₹65.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.

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Company profile

Fino Payments Bank Limited provides financial solutions and services in India. It operates in four segments: Treasury, Corporate Banking/Wholesale Banking, Retail Banking, and Other Banking Operations.

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The company offers savings, current, and salary accounts; personal, home and property, gold, and referral loans; debit and prepaid cards; and life, health, general, motor, and shopkeeper insurance products, as well as fixed deposit and sweep account facility.

It also provides open, internet, and BC banking, as well as mobile banking through the FinoPay app; merchant services; and unified payments interface, recharge, and bills payments.

In addition, the company offers other banking operations, including business correspondent, digital payment, cash management, domestic money transfer, and micro ATM services, as well as Aadhaar enabled payment systems; and digital savings accounts.

The company was formerly known as Fino Fintech Limited and changed its name to Fino Payments Bank Limited in April 2017. The company was founded in 2006 and is based in Navi Mumbai, India. Fino Payments Bank Limited is a subsidiary of FINO PayTech Limited.

Stock analysis

Fino Payments Bank Limited (FINOPB) currently trades at ₹126.13, while our model-based Fair Value estimate is ₹65.71, 48% 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 ₹108.71 per share, and 1 of the 4 models we run sit above the ₹126.13 price.

Bear case: the Asset-Based group reads lowest at ₹64.83, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.

Scenario range: ₹65.71 (bear) to ₹68.58 (bull), the price of ₹126.13 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 52/100 (solid quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Fino Payments Bank Limited reported revenue of ₹15.8B in FY2026 versus ₹3.9B in FY2022, a compound +41.5%/yr. Reported net income was ₹525M in FY2026, compounding +5.3%/yr from FY2022.

Key figures

Market cap ₹10.5B (≈ $112M) Micro · P/S ratio 0.81 · EPS (TTM) ₹−1.85 · Net margin −1.2% · Return on equity −2.0% · Return on assets (EBIT) 2.3% (5-year average) · Operating margin −7.0% · Revenue (TTM) ₹12.3B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (medium confidence).

What moves the price

The share trades about 60% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −48%, FINOPB screens richer than that median.

Fair Value models

Bear ₹65.71 Fair Value ₹65.71 Bull ₹68.58
Price ₹126.13 · Downside -47.9%
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. 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 ₹66.73 ₹65.71 ₹68.58 68
P/E Multiple ₹61.46 ₹81.95 ₹102.44 63
P/B Multiple ₹101.60 ₹135.46 ₹169.33 55
All 4 models by family
Multiples
P/E Multiple ₹61.46 ₹81.95 ₹102.44 63
P/B Multiple ₹101.60 ₹135.46 ₹169.33 55
Asset-Based
NCAV (Graham) ₹48.38 ₹64.83 ₹96.76 51
Economic Profit
Residual Income ₹66.73 ₹65.71 ₹68.58 68

Open the full fair value analysis →

Quality Score breakdown

Overall quality 52/100

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

Profitability 29
How much profit the company makes from its sales and capital
Quality Growth 68
Are margins and returns getting better?
Cashflow 39
Do the profits arrive as real cash?
Financial strength 85
Debt, balance sheet and risk of trouble
Investment 31
Does it invest with discipline instead of growing at any price?
Low Volatility 47
How calm the share price moves, does not count
Price momentum 23
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 83
Buys back shares or issues new ones?

Open the full quality analysis →

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+102.9%
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.
+47.3%
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.
+36.9%
Start year 2021 (pandemic)
Revenue growth 8 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.
+26.8%
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.
+15.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.2%
Dividend (yield on the price)0.0%
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.6% → 4%

FINOPB screens overvalued: fair value 48% 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 · 999 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside −47.9% · Bottom 25%
Profitability
Return on assets 1.0% · Above median
Net margin (12 months) −1.2% · Bottom 25%
Operating margin (12 months) −7.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −19.9% · Bottom 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/B 1.30× · Pricier than median
P/S (12 months) 0.85× · Cheapest 25%

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 ¥5.63 ¥7.59 +35% vs FINOPB
China Merchants Bank Co 600036 ¥42.56 ¥52.73 +24% vs FINOPB
BNP Paribas SA BNP €95.77 €107.43 +12% vs FINOPB
Intesa Sanpaolo S.p.A ISP €6.30 €4.91 −22% vs FINOPB
UniCredit S.p.A UCG €84.24 €58.08 −31% vs FINOPB
Oversea-Chinese Banking Corporation O39 28.82 SGD 18.20 SGD −37% vs FINOPB
Mizuho Financial Group MFG $9.93 $5.87 −41% vs FINOPB
DBS Group D05 70.97 SGD 40.39 SGD −43% vs FINOPB
HDFC Bank Limited HDFCBANK ₹806.60 ₹406.39 −50% vs FINOPB
ICICI Bank Limited ICICIBANK ₹1,572 ₹615.63 −61% vs FINOPB

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Fino Payments Bank Limited: fair value per Fair Value Calculator

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

Frequently asked questions

Is Fino Payments Bank Limited (FINOPB) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of ₹65.71 versus a price of ₹126.13, about 48% lower (overvalued).
What is the fair value of FINOPB?
Our model-based fair value for Fino Payments Bank Limited is ₹65.71 (as of Nov 11, 2026), built from audited fundamentals. The current price: ₹126.13.
What is the quality score of FINOPB?
Fino Payments Bank Limited has a Quality Score of 52/100. 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 Fino Payments Bank Limited (FINOPB)?
Our model-based price target is the fair value of ₹65.71 (as of Nov 11, 2026) from 4 valuation models. Cautious scenario ₹65.71, optimistic scenario ₹68.58. It is a calculation from audited fundamentals, not an analyst target.
What is the Fino Payments Bank Limited stock forecast for 2026?
Our models put fair value at ₹65.71, about 48% lower versus a price of ₹126.13 (overvalued). Cautious scenario ₹65.71, optimistic scenario ₹68.58. The calculation is refreshed regularly with new filings.
What is the revenue of Fino Payments Bank Limited (FINOPB)?
Fino Payments Bank Limited reported trailing-twelve-month revenue of about ₹12.3B (latest available figure, as of Nov 11, 2026).
What is the intrinsic value of Fino Payments Bank Limited (FINOPB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fino Payments Bank Limited it is ₹65.71 per share (as of Nov 11, 2026), against a price of ₹126.13. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Fino Payments Bank Limited stock overvalued or undervalued in 2026?
As of Nov 11, 2026, FINOPB trades above its calculated fair value: price ₹126.13, fair value ₹65.71, a gap of about −48% (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 FINOPB?
No. The price is what the market pays today (₹126.13); the fair value is what the company's own numbers justify (₹65.71). For Fino Payments Bank Limited the two are ₹60.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fino Payments Bank Limited worth?
The market values Fino Payments Bank Limited at about ₹10.5B (market capitalisation, as of Nov 11, 2026). Per share that is ₹126.13; our models calculate a fair value of ₹65.71 per share.
What do the bullish and bearish scenarios say about FINOPB?
Our models span a range for Fino Payments Bank Limited: cautious scenario ₹65.71, base ₹65.71, optimistic ₹68.58 per share (as of Nov 11, 2026, price ₹126.13). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Fino Payments Bank Limited (FINOPB)?
Balance-sheet figures for Fino Payments Bank Limited (as of Nov 11, 2026): return on equity −2.0%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is FINOPB from its 52-week high?
Fino Payments Bank Limited trades at ₹126.13, about 60% below its 52-week high of ₹318.25 and 12% above the low of ₹112.46 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of ₹65.71 is for.
Which stocks are comparable to Fino Payments 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 Fino Payments Bank Limited stock attractive at the current price?
The data as of Nov 11, 2026: price ₹126.13, calculated fair value ₹65.71 (−48%), Quality Score 52/100, 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 FINOPB calculated?
We run Fino Payments Bank Limited through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹65.71 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 14.0% above its aggregate fair value. Fino Payments 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 Fino Payments Bank Limited (FINOPB)?
The closing price on Nov 11, 2026 was ₹126.13. Our model-based fair value is ₹65.71, about 48% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fino Payments Bank Limited right now?
The price sits above even our optimistic bull case (₹68.58). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (₹65.71 to ₹68.58), unusually little disagreement for a valuation.

Key figures of Fino Payments Bank Limited

How large is the market capitalisation of Fino Payments Bank Limited (FINOPB)?
The market capitalisation of Fino Payments Bank Limited is ₹10.5B (≈ $112M). 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 Fino Payments Bank Limited (FINOPB)?
The price-to-sales ratio of Fino Payments Bank Limited is 0.81 (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 Fino Payments Bank Limited (FINOPB)?
Earnings per share at Fino Payments Bank Limited are ₹−1.85. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fino Payments Bank Limited (FINOPB)?
The net margin of Fino Payments Bank Limited is −1.2% (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 Fino Payments Bank Limited (FINOPB)?
The return on equity (ROE) of Fino Payments Bank Limited is −2.0% (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 Fino Payments Bank Limited (FINOPB)?
On an EBIT basis the return on assets of Fino Payments Bank Limited is 2.3% (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 Fino Payments Bank Limited (FINOPB)?
The operating margin of Fino Payments Bank Limited is −7.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fino Payments Bank Limited (FINOPB)?
Revenue at Fino Payments Bank Limited is growing −19.9% versus a year earlier (3y avg +47.3%). 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 Fino Payments Bank Limited (FINOPB)?
Earnings per share at Fino Payments Bank Limited are growing −70.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fino Payments Bank Limited (FINOPB) generate?
The free cash flow of Fino Payments Bank Limited is ₹9.1M (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 Fino Payments Bank Limited (FINOPB) carry?
The net debt of Fino Payments Bank Limited is ₹1.8B (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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