HDFC Asset Management Company Limited (HDFCAMC) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of HDFC Asset Management Company Limited stock ₹1,046, price ₹2,640, that is 60.4% below the price, quality 64 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range ₹766.50 – ₹978,596 · fair‑value band ₹552.03 – ₹1,742 · the ₹2,640 price screens above the ₹1,046 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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HDFC Asset Management Company Limited is a publicly owned investment manager. The firm launches and manages equity, fixed income, and balanced mutual funds for its clients. It manages equity, fixed income, balanced, and real estate portfolios.
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The firm invests in public equity and fixed income markets. The firm employs fundamental analysis to make its investments. HDFC Asset Management Company Limited was founded on December 10,1999 and is based in Mumbai, Maharashtra.
HDFC Asset Management Company Limited operates as a subsidiary of HDFC Bank Limited.
Stock analysis
HDFC Asset Management Company Limited (HDFCAMC) currently trades at ₹2,640, while our model-based Fair Value estimate is ₹1,046, 60% 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 ₹1,231 per share, and 1 of the 13 models we run sit above the ₹2,640 price.
Bear case: the Asset-Based group reads lowest at ₹143.90, and 12 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹552.03 (bear) to ₹1,742 (bull), the price of ₹2,640 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 64/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
HDFC Asset Management Company Limited reported revenue of ₹46.2B in FY2026 versus ₹21.2B in FY2022, a compound +21.6%/yr. Reported net income was ₹28.6B in FY2026, compounding +19.7%/yr from FY2022.
Key figures
Market cap ₹1.1T (≈ $12.0B) Large · P/E ratio 38.5 · P/S ratio 23.2 · EPS (TTM) ₹68.54 · Dividend yield 2.0% · Net margin 60.8% · Return on equity 36.4% · Return on assets (EBIT) 28.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 91 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −60%, HDFCAMC screens richer than that median.
Fair Value models
Bear₹552.03Fair Value ₹1,046Bull₹1,742
Price ₹2,640 · Downside -60.4%
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 (₹8.72 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₹367.87₹452.39₹758.1974
Growth DCF₹715.44₹1,346₹2,25973
Owner Earnings₹840.92₹1,638₹3,05270
All 13 models by family
DCF Models
Owner Earnings₹840.92₹1,638₹3,05270
5Y P/E Exit₹656.60₹1,231₹1,93166
10Y P/E Exit₹678.05₹1,212₹2,05059
Earnings-Based
Graham-Dodd₹452.95₹2,767₹3,85963
Lynch FV₹792.19₹1,132₹1,47161
Dividend Discount
Gordon GGM₹361.96₹671.13₹947.4567
DDM Multi-Stage₹361.96₹603.74₹714.6867
Multiples
P/E Multiple₹649.45₹865.93₹1,08263
P/B Multiple₹225.51₹300.68₹375.8555
Asset-Based
NCAV (Graham)₹107.39₹143.90₹214.7751
Growth DCF
Growth DCF₹715.44₹1,346₹2,25973
Rev-Margin DCF₹349.26₹538.56₹774.0170
Economic Profit
Residual Income₹367.87₹452.39₹758.1974
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+32.1%
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.
+28.7%
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.
+20.1%
Start year 2021 (pandemic). Over 10 years: +12.3% a year
Revenue growth 13 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.
+14.7%
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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. 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.
+3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.4%
Dividend (yield on the price)2.0%
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.1.4% vs 10.9%, slowing
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.76% → 81%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+27.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +22.0% a year for the price and +9.2% for the forecasts.
Compare HDFC Asset Management Company Limited with another stock
Price, fair value, quality and upside side by side.
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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.Asset Management · 592 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside−60.4% · Bottom 25%
Profitability
Return on equity (12 months)36.4% · Top 25%
Return on assets28.6% · Top 25%
Net margin (12 months)60.8% · Above median
Operating margin (12 months)79.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)10.5% · Above median
Dividend yield (12 months)2.0% · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)38.5× · Priciest 25%
P/B12.29× · Priciest 25%
P/S (12 months)23.15× · Priciest 25%
Price / free cash flow44.5× · Priciest 25%
EV/EBITDA28.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 57
FUTURE (revenue growth)53· sector 39
PAST (return on equity)100· sector 30
HEALTH (low debt)0· sector 96
DIVIDEND (yield)41· sector 79
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "HDFC Asset Management Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/HDFCAMC
Frequently asked questions
Is HDFC Asset Management Company Limited (HDFCAMC) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of ₹1,046 versus a price of ₹2,640, about 60% lower (overvalued).
What is the fair value of HDFCAMC?
Our model-based fair value for HDFC Asset Management Company Limited is ₹1,046 (as of Nov 1, 2026), built from audited fundamentals. The current price: ₹2,640.
What is the quality score of HDFCAMC?
HDFC Asset Management Company Limited has a Quality Score of 64/100. 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 HDFC Asset Management Company Limited (HDFCAMC)?
Our model-based price target is the fair value of ₹1,046 (as of Nov 1, 2026) from 13 valuation models. Cautious scenario ₹552.03, optimistic scenario ₹1,742. It is a calculation from audited fundamentals, not an analyst target.
What is the HDFC Asset Management Company Limited stock forecast for 2026?
Our models put fair value at ₹1,046, about 60% lower versus a price of ₹2,640 (overvalued). Cautious scenario ₹552.03, optimistic scenario ₹1,742. The calculation is refreshed regularly with new filings.
What is the revenue of HDFC Asset Management Company Limited (HDFCAMC)?
HDFC Asset Management Company Limited reported trailing-twelve-month revenue of about ₹49.0B (latest available figure, as of Nov 1, 2026).
Does HDFC Asset Management Company Limited pay a dividend?
HDFC Asset Management Company Limited currently shows a dividend yield of 2.05% relative to its recent price (as of Nov 1, 2026).
What growth is priced into HDFC Asset Management Company Limited (HDFCAMC)?
For today's price to be fair in a discounted-cash-flow model, HDFC Asset Management Company Limited would have to grow free cash flow by +27.0 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.1 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of HDFCAMC use?
Our models discount HDFC Asset Management Company Limited at 10.5 %: a base by market capitalisation (large), damped by beta 0.55, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For HDFC Asset Management Company Limited that is +27.0 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has HDFC Asset Management Company Limited (HDFCAMC) delivered so far?
Over the past 5 years revenue at HDFC Asset Management Company Limited grew +20.1 % a year. The price currently implies +27.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of HDFC Asset Management Company Limited (HDFCAMC) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into HDFC Asset Management Company Limited (+27.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of HDFC Asset Management Company Limited (HDFCAMC)?
The free-cash-flow yield on the price is 2.25 %: that much free cash flow HDFC Asset Management Company Limited produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HDFC Asset Management Company Limited (HDFCAMC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HDFC Asset Management Company Limited it is ₹1,046 per share (as of Nov 1, 2026), against a price of ₹2,640. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is HDFC Asset Management Company Limited stock overvalued or undervalued in 2026?
As of Nov 1, 2026, HDFCAMC trades above its calculated fair value: price ₹2,640, fair value ₹1,046, a gap of about −60% (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 HDFCAMC?
No. The price is what the market pays today (₹2,640); the fair value is what the company's own numbers justify (₹1,046). For HDFC Asset Management Company Limited the two are ₹1,594 per share apart. That gap is exactly why we show both numbers side by side.
How much is HDFC Asset Management Company Limited worth?
The market values HDFC Asset Management Company Limited at about ₹1.1T (market capitalisation, as of Nov 1, 2026). Per share that is ₹2,640; our models calculate a fair value of ₹1,046 per share.
What do the bullish and bearish scenarios say about HDFCAMC?
Our models span a range for HDFC Asset Management Company Limited: cautious scenario ₹552.03, base ₹1,046, optimistic ₹1,742 per share (as of Nov 1, 2026, price ₹2,640). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HDFCAMC?
HDFC Asset Management Company Limited trades at a price-to-earnings ratio of 38.5 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,046 is built from several models across several years. Other multiples: P/B 12.3, P/S 23.2, EV/EBITDA 28.7.
How solid is the balance sheet of HDFC Asset Management Company Limited (HDFCAMC)?
Balance-sheet figures for HDFC Asset Management Company Limited (as of Nov 1, 2026): return on equity 36.4%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is HDFCAMC from its 52-week high?
HDFC Asset Management Company Limited trades at ₹2,640, about 6% below its 52-week high of ₹2,802 and 22% above the low of ₹2,169 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,046 is for.
Which stocks are comparable to HDFC Asset Management Company Limited?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 HDFC Asset Management Company Limited stock attractive at the current price?
The data as of Nov 1, 2026: price ₹2,640, calculated fair value ₹1,046 (−60%), Quality Score 64/100, from 13 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 HDFCAMC calculated?
We run HDFC Asset Management Company Limited through 13 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 ₹1,046, 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 15.5% above its aggregate fair value. HDFC Asset Management Company 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 HDFC Asset Management Company Limited (HDFCAMC)?
The closing price on Nov 5, 2026 was ₹2,640. Our model-based fair value is ₹1,046, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HDFC Asset Management Company Limited right now?
The price sits above even our optimistic bull case (₹1,742). The favourable scenario is already priced in. The model range is unusually wide (₹552.03 to ₹1,742). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (64/100) 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.
Where does the earnings growth of HDFC Asset Management Company Limited (HDFCAMC) come from?
Earnings per share at HDFC Asset Management Company Limited grew +15.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.6 %, EBIT margin +5.3 %, tax rate +1.4 %, residual (interest, one-offs) +0.3 %. 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 HDFC Asset Management Company Limited
How large is the market capitalisation of HDFC Asset Management Company Limited (HDFCAMC)?
The market capitalisation of HDFC Asset Management Company Limited is ₹1.1T (≈ $12.0B). 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 HDFC Asset Management Company Limited (HDFCAMC)?
The price-to-sales ratio of HDFC Asset Management Company Limited is 23.2 (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 HDFC Asset Management Company Limited (HDFCAMC)?
Earnings per share at HDFC Asset Management Company Limited are ₹68.54 (price ÷ EPS = P/E 38.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HDFC Asset Management Company Limited (HDFCAMC)?
The dividend yield of HDFC Asset Management Company Limited is 2.0% (payout 78.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of HDFC Asset Management Company Limited (HDFCAMC)?
The net margin of HDFC Asset Management Company Limited is 60.8% (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 HDFC Asset Management Company Limited (HDFCAMC)?
The return on equity (ROE) of HDFC Asset Management Company Limited is 36.4% (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 HDFC Asset Management Company Limited (HDFCAMC)?
On an EBIT basis the return on assets of HDFC Asset Management Company Limited is 28.9% (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 HDFC Asset Management Company Limited (HDFCAMC)?
The operating margin of HDFC Asset Management Company Limited is 79.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HDFC Asset Management Company Limited (HDFCAMC)?
Revenue at HDFC Asset Management Company Limited is growing +10.5% versus a year earlier (3y avg +28.7%). 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 HDFC Asset Management Company Limited (HDFCAMC)?
Earnings per share at HDFC Asset Management Company Limited are growing +4.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HDFC Asset Management Company Limited (HDFCAMC) carry?
The net debt of HDFC Asset Management Company Limited is ₹2.1B (fiscal year 2026, ≈ 0.1 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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Broad data
Nov 1, 2026