Jupiter Wagons Limited (JWL) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Jupiter Wagons Limited ₹84.07, price ₹224, upside -62.5%, quality 31 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹25.71 – ₹726.33 · fair‑value band ₹63.05 – ₹105.08 · the ₹223.93 price screens above the ₹84.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 1, 2026.
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Jupiter Wagons Limited manufactures and sells railway wagons, wagon components, and railway transportation equipment in India and internationally. It offers open, covered, flat, hopper, container, and special purpose wagons; and wagon accessories, such as alloy steel cast bogies, high tensile center buffer couplers, and high-capacity draft gears.
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Jupiter Wagons Limited manufactures and sells railway wagons, wagon components, and railway transportation equipment in India and internationally. It offers open, covered, flat, hopper, container, and special purpose wagons; and wagon accessories, such as alloy steel cast bogies, high tensile center buffer couplers, and high-capacity draft gears. The company also provides train sets, passenger, and metro coaches; and passenger coach accessories, including fabricated bogies, couplers and draft gears for passenger trains, axle mounted disc brake systems, brake discs and split brake discs, and brake pads. In addition, it offers track solutions, such as CMS crossings and weldable CMS crossings on PSC slipper; commercial vehicles; commercial electric vehicles; and containers, such as marine, refrigerated, and truck mounted containers, as well as cold chain transport solution. Further, the company engages in letting out of property; and manufacturing of electrical equipment, as well as provides drone delivery services. The company serves railway engineering company, the Indian Railway, private wagon aggregators, commercial vehicles OEMs, and Indian defense and logistics companies. The company was formerly known as Commercial Engineers & Body Builders Co Limited and changed its name to Jupiter Wagons Limited in May 2022. The company was incorporated in 1979 and is based in Kolkata, India.
Stock analysis
Jupiter Wagons Limited (JWL) currently trades at ₹223.93, while our model-based Fair Value estimate is ₹84.07, 62.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹179.37 per share, and 0 of the 16 models we run sit above the ₹223.93 price.
Bear case: the Dividend Discount group reads lowest at ₹12.69, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹63.05 (bear) to ₹105.08 (bull), the price of ₹223.93 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 31/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Jupiter Wagons Limited reported revenue of ₹29.2B in FY2026 versus ₹11.7B in FY2022, a compound +25.8%/yr. Reported net income was ₹1.7B in FY2026, compounding +36.2%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹95.3B (≈ $990M) · P/E ratio 57.3 · P/S ratio 3.36 · EPS (TTM) ₹3.91 · Dividend yield 0.4% · Net margin 5.9% · Return on equity 5.8% · Return on assets (EBIT) 11.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at −62%, JWL screens richer than that median.
Fair Value models
Bear ₹63.05Fair Value ₹84.07Bull ₹105.08
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹1.98 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.Evidence ⓘEvidence = 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.
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.46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−25.9%
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.
+12.4%
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.
+24.1%
Start year 2021 (pandemic). Over 10 years: +39.0% a year
Revenue growth 20 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.
+22.5%
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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.
+2.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.0%
Dividend (yield on the price)0.4%
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.9% → 10%
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.Railroads · 107 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−62.5% · Bottom 25%
Profitability
Return on equity (TTM)5.8% · Below median
Return on assets4.2% · Above median
Net margin (TTM)5.3% · Below median
Operating margin (TTM)6.9% · Below median
Growth and dividend
Revenue growth46.0% · Top 25%
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Railroads median · lower = cheaper
P/E (TTM)57.3× · Priciest 25%
P/B3.20× · Priciest 25%
P/S (TTM)3.05× · Pricier than median
EV/EBITDA25.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)100· sector 21
PAST (return on equity)23· sector 29
HEALTH (low debt)96· sector 90
DIVIDEND (yield)9· sector 43
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.
Is Jupiter Wagons Limited (JWL) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹84.07 versus a price of ₹223.93, about −62% upside (overvalued).
What is the fair value of JWL?
Our model-based fair value for Jupiter Wagons Limited is ₹84.07 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹223.93.
What is the quality score of JWL?
Jupiter Wagons Limited has a Quality Score of 31/100. 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 Jupiter Wagons Limited (JWL)?
Our model-based price target is the fair value of ₹84.07 (as of Oct 1, 2026) from 16 valuation models. Cautious scenario ₹63.05, optimistic scenario ₹105.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Jupiter Wagons Limited stock forecast for 2026?
Our models put fair value at ₹84.07, about −62% upside versus a price of ₹223.93 (overvalued). Cautious scenario ₹63.05, optimistic scenario ₹105.08. The calculation is refreshed regularly with new filings.
What is the revenue of Jupiter Wagons Limited (JWL)?
Jupiter Wagons Limited reported trailing-twelve-month revenue of about ₹31.3B (latest available figure, as of Oct 1, 2026).
Does Jupiter Wagons Limited pay a dividend?
Jupiter Wagons Limited currently shows a dividend yield of about 0.43% relative to its recent price (as of Oct 1, 2026).
What is the intrinsic value of Jupiter Wagons Limited (JWL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jupiter Wagons Limited it is ₹84.07 per share (as of Oct 1, 2026), against a price of ₹223.93. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Jupiter Wagons Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, JWL trades above its calculated fair value: price ₹223.93, fair value ₹84.07, a gap of about −62% (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 JWL?
No. The price is what the market pays today (₹223.93); the fair value is what the company's own numbers justify (₹84.07). For Jupiter Wagons Limited the two are ₹139.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jupiter Wagons Limited worth?
The market values Jupiter Wagons Limited at about ₹95.3B (market capitalisation, as of Oct 1, 2026). Per share that is ₹223.93; our models calculate a fair value of ₹84.07 per share.
What do the bullish and bearish scenarios say about JWL?
Our models span a range for Jupiter Wagons Limited: cautious scenario ₹63.05, base ₹84.07, optimistic ₹105.08 per share (as of Oct 1, 2026, price ₹223.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JWL?
Jupiter Wagons Limited trades at a price-to-earnings ratio of 57.3 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹84.07 is built from several models across several years. Other multiples: P/B 3.2, P/S 3.0, EV/EBITDA 25.3.
How solid is the balance sheet of Jupiter Wagons Limited (JWL)?
Balance-sheet figures for Jupiter Wagons Limited (as of Oct 1, 2026): return on equity 5.8%, debt of 0.09 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is JWL from its 52-week high?
Jupiter Wagons Limited trades at ₹223.93, about 36% below its 52-week high of ₹347.55 and 2% above the low of ₹219.82 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹84.07 is for.
Which stocks are comparable to Jupiter Wagons Limited?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Canadian National Railway Company, 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 Jupiter Wagons Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹223.93, calculated fair value ₹84.07 (−62%), Quality Score 31/100, from 16 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 JWL calculated?
We run Jupiter Wagons Limited through 16 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 ₹84.07, 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 14.5 % above its aggregate fair value. Jupiter Wagons 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 Jupiter Wagons Limited (JWL)?
The closing price on Oct 1, 2026 was ₹223.93. Our model-based fair value is ₹84.07, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jupiter Wagons Limited right now?
The price sits above even our optimistic bull case (₹105.08). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Jupiter Wagons Limited
How large is the market capitalisation of Jupiter Wagons Limited (JWL)?
The market capitalisation of Jupiter Wagons Limited is ₹95.3B (≈ $990M). 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 Jupiter Wagons Limited (JWL)?
The price-to-sales ratio of Jupiter Wagons Limited is 3.36 (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 Jupiter Wagons Limited (JWL)?
Earnings per share at Jupiter Wagons Limited are ₹3.91 (price ÷ EPS = P/E 57.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jupiter Wagons Limited (JWL)?
The dividend yield of Jupiter Wagons Limited is 0.4% (payout 24.4%). 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 Jupiter Wagons Limited (JWL)?
The net margin of Jupiter Wagons Limited is 5.9% (fiscal year 2026). 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 Jupiter Wagons Limited (JWL)?
The return on equity (ROE) of Jupiter Wagons Limited is 5.8% (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 Jupiter Wagons Limited (JWL)?
On an EBIT basis the return on assets of Jupiter Wagons Limited is 11.5% (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 Jupiter Wagons Limited (JWL)?
The operating margin of Jupiter Wagons Limited is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jupiter Wagons Limited (JWL)?
Revenue at Jupiter Wagons Limited is growing +46.0% versus a year earlier (3y avg +12.4%). 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 Jupiter Wagons Limited (JWL)?
Earnings per share at Jupiter Wagons Limited are growing −14.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Jupiter Wagons Limited (JWL) generate?
The free cash flow of Jupiter Wagons Limited is −₹5.7B (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 Jupiter Wagons Limited (JWL) carry?
The net debt of Jupiter Wagons Limited is ₹5.5B (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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