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Muthoot Finance Limited (MUTHOOTFIN) Fair Value & Analysis

Financial Services · IN · Market cap ₹1.3T

MF Muthoot Finance Limited MUTHOOTFIN · NSE
Price₹2,894
Fair Value₹3,463
Upside+19.7%
Quality57/100
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Healthy Growth
Highly profitable · 55.2% net margin
Moderate debt · generates free cash flow
0.98% dividend yield
Ranks above peers (10/14)
Wide moat 83/100
Evidence: High Range ₹2,572 – ₹13,852 Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 27 days ago

Share price −7.4% over the past month.

A solid business, screening 20% undervalued on our models.

What matters now

  • The model range is unusually wide (₹2,572 to ₹13,852). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • 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)

₹4,057 ₹865.73 Fair Value ₹3,463 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range ₹865.73 – ₹4,057 · fair‑value band ₹2,572 – ₹13,852 · the ₹2,894 price screens below the ₹3,463 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Muthoot Finance Limited (MUTHOOTFIN) currently trades at ₹2,894, while our model-based Fair Value estimate is ₹3,463, implying the stock looks roughly 19.7% undervalued today. We read business quality at 57/100 (solid quality), in the Financial 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: high), always confirm before acting.

Over the trailing twelve months, Muthoot Finance Limited generated revenue of ₹192B at a net margin of 55.2%. Revenue grew 53.7% year over year. It earns a return on equity of 30.4%. Net debt stands at ₹1.4T. Fundamentals as of Jul 11, 2026

Our scenario range runs from ₹2,572 (bear case) to ₹13,852 (bull case); at ₹2,894, the current price sits within 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 30% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at 20%, MUTHOOTFIN 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 BearBaseBull Evidence
Highest evidence
Growth DCF ₹3,911 ₹8,520 ₹18,237 80
Residual Income ₹2,042 ₹3,023 ₹28,971 76
Rev-Margin DCF ₹1,491 ₹3,443 ₹7,104 74
All 26 models by family
DCF Models
FCF DCF ₹4,212 ₹7,416 ₹17,893 38
Owner Earnings ₹3,362 ₹9,249 ₹22,160 31
5Y Revenue Exit ₹1,475 ₹2,874 ₹5,766 39
5Y EBITDA Exit ₹3,250 ₹6,463 ₹12,762 41
5Y P/E Exit ₹3,404 ₹8,710 ₹15,915 38
10Y Revenue Exit ₹2,224 ₹5,122 ₹6,652 36
10Y EBITDA Exit ₹3,613 ₹9,032 ₹18,392 37
10Y P/E Exit ₹3,728 ₹9,373 ₹18,596 35
Earnings-Based
Graham-Dodd ₹1,794 ₹12,510 ₹17,555 54
Lynch FV ₹4,725 ₹6,750 ₹8,776 50
PEG = 1.0 ₹4,725 ₹6,750 ₹8,776 46
EPV ₹1,877 ₹2,388 ₹2,843 59
Dividend Discount
Gordon GGM ₹250.17 ₹546.17 ₹918.95 70
DDM Multi-Stage ₹250.17 ₹447.40 ₹569.19 61
Multiples
P/E Multiple ₹3,957 ₹5,276 ₹6,595 63
P/S Multiple ₹1,460 ₹1,947 ₹2,434 58
P/B Multiple ₹2,193 ₹2,924 ₹3,655 55
EV/EBIT ₹4,135 ₹5,853 ₹7,571 53
EV/EBITDA ₹2,736 ₹3,988 ₹5,240 54
EV/Revenue ₹342.08 ₹926.12 ₹1,510 43
Asset-Based
NCAV (Graham) ₹487.34 ₹653.04 ₹974.68 50
Growth DCF
Growth DCF ₹3,911 ₹8,520 ₹18,237 80
Rev-Margin DCF ₹1,491 ₹3,443 ₹7,104 74
Economic Profit
Residual Income ₹2,042 ₹3,023 ₹28,971 76
ROIC Compounder ₹2,733 ₹4,551 ₹5,995 72
Growth Earnings
Growth-Adj P/E ₹5,919 ₹8,456 ₹10,992 68

Widest divergence: Growth Earnings (₹8,456) versus Dividend Discount (₹447.40). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹192B
Revenue growth (YoY) +53.7%
Net margin 55.2%
Return on equity 30.4%
Free cash flow ₹118B FY2026
P/E ratio 11.9
More key figures
Operating margin 78.2%
EPS (TTM) ₹263.85
Dividend yield 1.0%
EPS growth (YoY) +127%
Net debt ₹1.4T FY2026

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 58 · Market factors (momentum, volatility) 45

Profitability 51
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 35
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

Muthoot Finance Limited, a non-banking financing company, provides gold loans in India. The company offers various loans, including personal, small and corporate business, SME, and vehicle, as well as loans against property; insurance products, such as health, home, vehicle, life, travel, shop, and group; housing and micro finance; and mutual funds.

Full company description

Muthoot Finance Limited, a non-banking financing company, provides gold loans in India. The company offers various loans, including personal, small and corporate business, SME, and vehicle, as well as loans against property; insurance products, such as health, home, vehicle, life, travel, shop, and group; housing and micro finance; and mutual funds. It also provides gold flexi credit; PAN card; money transfer; non-convertible debentures; national pension scheme; digital and cashless payments; bank mapping; and other custom offerings and milligram rewards. In addition, the company generates electric power through three windmills with a combined capacity of 3.75 MW in Tamil Nadu. Muthoot Finance Limited was founded in 1887 and is headquartered in Kochi, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Muthoot Finance Limited reported revenue of ₹313B in FY2026 versus ₹122B in FY2022, a compound +26.5%/yr. Reported net income was ₹106B in FY2026, compounding +27.4%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹313B
Latest YoY
+54.3%
Avg. growth/yr (3Y)
+37.9%
Avg. growth/yr (5Y)
+22.0%
Avg. growth/yr (20Y)
+36.2%
Revenue +26.5%/yr
FY22 ₹122B
FY23 ₹119B
FY24 ₹151B
FY25 ₹203B
FY26 ₹313B
Net income +27.4%/yr
FY22 ₹40.2B
FY23 ₹36.1B
FY24 ₹43.2B
FY25 ₹53.3B
FY26 ₹106B

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Cite: Fair Value Calculator (2026). "Muthoot Finance Limited Fair Value". https://www.fairvalue-calculator.com/stock/MUTHOOTFIN

Peer Group

Credit Services · 333 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 57 · Above median
Fair Value upside +20% · Above median
Return on equity (TTM) 30% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 55% · Top 25%
Operating margin (TTM) 78% · Top 25%
Revenue growth 54% · Top 25%
Dividend yield (TTM) 1.0% · Below median
Debt / equity 1.38× · Higher than median

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than median
P/B 3.21× · Pricier than 75% of peers
P/S (TTM) 6.55× · Pricier than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 11.5× · Cheaper than median

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 60 · sector 35
FUTURE 100 · sector 39
PAST 100 · sector 31
HEALTH 31 · sector 59
DIVIDEND 20 · sector 51

Insider activity: 40/100

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 Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%
REC Limited RECLTD ₹352.45 ₹704.90 +100%

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Frequently asked questions

Is Muthoot Finance Limited (MUTHOOTFIN) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ₹3,463 versus a price of ₹2,894, about +20% (undervalued).
What is the fair value of MUTHOOTFIN?
Our model-based fair value for Muthoot Finance Limited is ₹3,463 (as of Jul 11, 2026), built from audited fundamentals. The current price is ₹2,894.
What is the quality score of MUTHOOTFIN?
Muthoot Finance Limited has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Muthoot Finance Limited (MUTHOOTFIN)?
Muthoot Finance Limited reported trailing-twelve-month revenue of about ₹192B (latest available figure, as of Jul 11, 2026).
What is the net profit margin of MUTHOOTFIN?
The net profit margin of Muthoot Finance Limited is about 55.2%, meaning it keeps roughly 55.2% of revenue as net income. Based on the latest reported figures.
Does Muthoot Finance Limited pay a dividend?
Muthoot Finance Limited currently shows a dividend yield of about 0.95% relative to its recent price (as of Jul 11, 2026).

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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