Nuvama Wealth (NUVAMA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Nuvama Wealth ₹2,676, price ₹1,701, upside +57.3%, quality 62 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
36‑month range ₹411.43 – ₹1,981 · fair‑value band ₹550.10 – ₹3,755 · the ₹1,701 price screens below the ₹2,676 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Nuvama Wealth Management Limited engages in wealth management, asset management, and capital markets businesses in India and internationally.
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Nuvama Wealth Management Limited engages in wealth management, asset management, and capital markets businesses in India and internationally. The company offers wealth management business, which includes the distribution of financial products, investment advisory, lending against securities and securities broking for clients in the wealth management business; and the asset management business comprises investment management for alternative investment funds (AIFs) and portfolio management services (PMS) across strategies. It also provides capital market business, such as institutional broking business, merchant banking business, advisory and clearing services. The company was formerly known as Edelweiss Securities Limited and changed its name to Nuvama Wealth Management Limited in August 2022. Nuvama Wealth Management Limited was incorporated in 1993 and is based in Mumbai, India. Nuvama Wealth Management Limited operates as a subsidiary of PAGAC Ecstasy Pte. Ltd.
Stock analysis
Nuvama Wealth (NUVAMA) currently trades at ₹1,701, while our model-based Fair Value estimate is ₹2,676, implying the stock looks roughly 36.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹2,941 per share, and 7 of the 13 models we run sit above the ₹1,701 price.
Bear case: the Multiples group reads lowest at ₹312.67, and 6 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹550.10 (bear) to ₹3,755 (bull), the price of ₹1,701 sits inside 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 62/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nuvama Wealth reported revenue of ₹46.5B in FY2026 versus ₹15.7B in FY2022, a compound +31.3%/yr. Reported net income was ₹10.4B in FY2026, compounding +5.0%/yr from FY2022.
Key figures
Market cap ₹310B (≈ $3.2B) · P/E ratio 29.2 · P/S ratio 6.55 · EPS (TTM) ₹58.18 · Dividend yield 1.6% · Net margin 22.4% · Return on equity 27.3% · Return on assets (EBIT) 2.5%.
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 14% below its 52-week high and 55% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 57%, NUVAMA screens cheaper than that median.
Fair Value models
Bear ₹550.10Fair Value ₹2,676Bull ₹3,755
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 (₹15.40 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+117.3%
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.
+52.0%
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.
+33.8%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+18.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.9%
Dividend (yield on the price)1.6%
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.49% → 30%
2026 sits 64% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+5.3%
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.
+7.0%
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 +1.1% a year for the price and +2.7% for the forecasts.
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 · 652 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+57.3% · Above median
Profitability
Return on equity (TTM)27.3% · Top 25%
Return on assets3.3% · Above median
Net margin (TTM)28.1% · Above median
Operating margin (TTM)37.2% · Below median
Growth and dividend
Revenue growth22.5% · Above median
Dividend yield (TTM)1.6% · Bottom 25%
Balance sheet
Debt / equity2.80× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
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). "Nuvama Wealth Fair Value". https://www.fairvalue-calculator.com/stock/NUVAMA
Frequently asked questions
Is Nuvama Wealth (NUVAMA) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹2,676 versus a price of ₹1,701, about +57% upside (undervalued).
What is the fair value of NUVAMA?
Our model-based fair value for Nuvama Wealth is ₹2,676 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹1,701.
What is the quality score of NUVAMA?
Nuvama Wealth has a Quality Score of 62/100. 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 Nuvama Wealth (NUVAMA)?
Our model-based price target is the fair value of ₹2,676 (as of Oct 1, 2026) from 13 valuation models. Cautious scenario ₹550.10, optimistic scenario ₹3,755. It is a calculation from audited fundamentals, not an analyst target.
What is the Nuvama Wealth stock forecast for 2026?
Our models put fair value at ₹2,676, about +57% upside versus a price of ₹1,701 (undervalued). Cautious scenario ₹550.10, optimistic scenario ₹3,755. The calculation is refreshed regularly with new filings.
What is the revenue of Nuvama Wealth (NUVAMA)?
Nuvama Wealth reported trailing-twelve-month revenue of about ₹38.5B (latest available figure, as of Oct 1, 2026).
Does Nuvama Wealth pay a dividend?
Nuvama Wealth currently shows a dividend yield of about 1.63% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Nuvama Wealth (NUVAMA)?
For today's price to be fair in a discounted-cash-flow model, Nuvama Wealth would have to grow free cash flow by +5.3 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +33.8 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of NUVAMA use?
Our models discount Nuvama Wealth at 10.9 %: a base by market capitalisation (mid), damped by beta 0.38, 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 Nuvama Wealth that is +5.3 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Nuvama Wealth (NUVAMA) delivered so far?
Over the past 5 years revenue at Nuvama Wealth grew +33.8 % a year. The price currently implies +5.3 % 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 Nuvama Wealth (NUVAMA) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Nuvama Wealth (+5.3 % 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 Nuvama Wealth (NUVAMA)?
The free-cash-flow yield on the price is 6.48 %: that much free cash flow Nuvama Wealth produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nuvama Wealth (NUVAMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nuvama Wealth it is ₹2,676 per share (as of Oct 1, 2026), against a price of ₹1,701. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Nuvama Wealth stock overvalued or undervalued in 2026?
As of Oct 1, 2026, NUVAMA trades below its calculated fair value: price ₹1,701, fair value ₹2,676, a gap of about +57% (undervalued). 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 NUVAMA?
No. The price is what the market pays today (₹1,701); the fair value is what the company's own numbers justify (₹2,676). For Nuvama Wealth the two are ₹974.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nuvama Wealth worth?
The market values Nuvama Wealth at about ₹310B (market capitalisation, as of Oct 1, 2026). Per share that is ₹1,701; our models calculate a fair value of ₹2,676 per share.
What do the bullish and bearish scenarios say about NUVAMA?
Our models span a range for Nuvama Wealth: cautious scenario ₹550.10, base ₹2,676, optimistic ₹3,755 per share (as of Oct 1, 2026, price ₹1,701). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NUVAMA?
Nuvama Wealth trades at a price-to-earnings ratio of 29.2 (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 ₹2,676 is built from several models across several years. Other multiples: P/B 7.5, P/S 8.0, EV/EBITDA 10.6.
How solid is the balance sheet of Nuvama Wealth (NUVAMA)?
Balance-sheet figures for Nuvama Wealth (as of Oct 1, 2026): return on equity 27.3%, debt of 2.80 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is NUVAMA from its 52-week high?
Nuvama Wealth trades at ₹1,701, about 14% below its 52-week high of ₹1,981 and 55% above the low of ₹1,097 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,676 is for.
Which stocks are comparable to Nuvama Wealth?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, 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 Nuvama Wealth stock attractive at the current price?
The data as of Oct 1, 2026: price ₹1,701, calculated fair value ₹2,676 (+57%), Quality Score 62/100, 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 NUVAMA calculated?
We run Nuvama Wealth 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 ₹2,676, 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. Nuvama Wealth currently trades 36 % below its own fair value, and the market average says nothing about that. 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 Nuvama Wealth (NUVAMA)?
The closing price on Oct 1, 2026 was ₹1,701. Our model-based fair value is ₹2,676, about +57% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nuvama Wealth right now?
The model range is unusually wide (₹550.10 to ₹3,755). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Nuvama Wealth
How large is the market capitalisation of Nuvama Wealth (NUVAMA)?
The market capitalisation of Nuvama Wealth is ₹310B (≈ $3.2B). 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 Nuvama Wealth (NUVAMA)?
The price-to-sales ratio of Nuvama Wealth is 6.55 (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 Nuvama Wealth (NUVAMA)?
Earnings per share at Nuvama Wealth are ₹58.18 (price ÷ EPS = P/E 29.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nuvama Wealth (NUVAMA)?
The dividend yield of Nuvama Wealth is 1.6% (payout 47.8%). 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 Nuvama Wealth (NUVAMA)?
The net margin of Nuvama Wealth is 22.4% (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 Nuvama Wealth (NUVAMA)?
The return on equity (ROE) of Nuvama Wealth is 27.3% (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 Nuvama Wealth (NUVAMA)?
On an EBIT basis the return on assets of Nuvama Wealth is 2.5% (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 Nuvama Wealth (NUVAMA)?
The operating margin of Nuvama Wealth is 37.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nuvama Wealth (NUVAMA)?
Revenue at Nuvama Wealth is growing +22.5% versus a year earlier (3y avg +52.0%). 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 Nuvama Wealth (NUVAMA)?
Earnings per share at Nuvama Wealth are growing +15.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nuvama Wealth (NUVAMA) hold?
Nuvama Wealth holds more cash than debt, ₹104B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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