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Data-driven stock valuation

One 97 Communications Limited (PAYTM) fair value: what the stock is really worth

We calculate from audited financials what One 97 Communications Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · IN · Market cap ₹860B (≈ $9.0B) · ISIN INE982J01020

At a glance

O9 One 97 Communications Limited PAYTM · NSE
Price₹1,670
Fair Value₹241.68
Upside−85.5%
Quality52/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

A solid business, but trading 591% above our fair value of ₹241.68.

As of Aug 19, 2026, the fair value of One 97 Communications Limited is ₹241.68 per share against a price of ₹1,670, so the fair value sits 86% below the price. A model estimate from reported figures, not an analyst target.

!Expensive Growth (revenue 5y +24.7 %/yr)
!Thin margins · 6.6% net margin
!Low debt · negative free cash flow
!Trails peers (4/12)
!Narrow moat 30/100
!Evidence only low, so the estimate is less certain
!Weak on past: 14 out of 100
!Weak on dividend: 1 out of 100
Evidence: Low Range ₹181.26 to ₹302.10

Fair value as of: Aug 19, 2026

From 12 valuation models · updated 21 days ago

Share price +15.8% over the past month.

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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹302.10). 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.

Price vs Fair Value (5 years)

₹1,799 ₹317.15 Fair Value ₹241.68 Nov 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

58‑month range ₹317.15 – ₹1,799 · fair‑value band ₹181.26 – ₹302.10 · the ₹1,670 price screens above the ₹241.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

One 97 Communications Limited (PAYTM) currently trades at ₹1,670, while our model-based Fair Value estimate is ₹241.68, implying the stock looks roughly 591.1% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ₹299.19 per share, and 0 of the 12 models we run sit above the ₹1,670 price. Bear case: the Multiples group reads lowest at ₹146.73, and 12 of the 12 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, One 97 Communications Limited generated revenue of ₹84.4B at a net margin of 6.6%. Revenue grew 18.4% year over year. It earns a return on equity of 3.6%. The balance sheet holds a net cash position of ₹129B. Fundamentals as of Aug 19, 2026

Scenario range: ₹181.26 (bear) to ₹302.10 (bull), the price of ₹1,670 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 95% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −32% fair-value upside, at −86%, PAYTM screens richer than that median.

Fair Value models

Based on fiscal year 2026 figures (about 5 months old). Earnings retained since then (₹3.81 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹11.81 to ₹409.32). Read the values as a conservative anchor, not as a price target.
Model 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. Evidence
Highest evidence
Residual Income best evidence ₹185.61 ₹181.50 ₹159.72 76
EV/EBITDA ₹314.13 ₹351.08 ₹388.02 67
Growth-Adj P/E ₹209.44 ₹299.19 ₹388.95 67
All 12 models by family
Earnings-Based
Graham-Dodd ₹58.69 ₹409.32 ₹574.42 63
Lynch FV ₹141.20 ₹201.72 ₹262.23 61
PEG = 1.0 ₹141.20 ₹201.72 ₹262.23 57
Dividend Discount
Gordon GGM ₹6.61 ₹14.42 ₹24.27 65
DDM Multi-Stage ₹6.61 ₹11.81 ₹15.03 66
Multiples
P/E Multiple ₹181.26 ₹241.68 ₹302.10 63
P/S Multiple ₹110.05 ₹146.73 ₹183.42 58
P/B Multiple ₹110.05 ₹146.73 ₹183.42 55
EV/EBITDA ₹314.13 ₹351.08 ₹388.02 67
Asset-Based
NCAV (Graham) ₹125.07 ₹167.59 ₹250.14 54
Economic Profit
Residual Income best evidence ₹185.61 ₹181.50 ₹159.72 76
Growth Earnings
Growth-Adj P/E ₹209.44 ₹299.19 ₹388.95 67

Widest divergence: Growth Earnings (₹299.19) versus Dividend Discount (₹11.81). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 196.0
P/S ratio 12.8 P/E × margin
EPS (TTM) ₹8.52 price ÷ EPS = P/E 196.0
Dividend yield 0.1% payout 12.6%
Net margin 6.6% FY2026
Return on equity 3.6% TTM
More key figures
Profitability
Return on assets (EBIT) −8.8% avg 5y
Growth
Revenue (TTM) ₹84.4B TTM
Revenue growth (YoY) +18.4% 3y avg +2.2%
EPS growth (YoY) −97.8%
Balance sheet & cash flow
Free cash flow −₹86.7B FY2026
Net cash ₹129B FY2026

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 84

Profitability 25
Margins and returns on capital today
Quality Growth 94
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 74
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

One97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India, the United Arab Emirates, Saudi Arabia, and Singapore.

Full company description

One97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India, the United Arab Emirates, Saudi Arabia, and Singapore. The company offers payment and financial services, including payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, wealth management, etc. It also provides marketing services consist of aggregators for digital products, the ticketing business, the provision of voice and messaging platforms to telecom operators, enterprise customers and other businesses, etc. In addition, the company offers mobile recharge; bill payments, such as utility bills, education and money transfers on the app, online payment gateways, as well as offline payment solutions to merchants through QR codes, soundbox, and card machines. Further, it provides digital distribution of credit, insurance, mutual funds distribution, and equity broking services; other services, including ticketing, deals and gift vouchers and advertising services for merchants; and distributes credit cards. Additionally, the company offers lending and wealth management for consumers and merchants; loyalty solutions; and operates a technology platform for origination, loan management, and collection for credit access. One97 Communications Limited was incorporated in 2000 and is headquartered in Noida, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

One 97 Communications Limited reported revenue of ₹84.4B in FY2026 versus ₹49.6B in FY2022, a compound +14.2%/yr. Reported net income was ₹5.5B in FY2026.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹84.4B
Latest YoY
+25.2%
Avg. revenue growth/yr (3Y) 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.
+2.2%
Avg. revenue growth/yr (5Y) 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.
+24.7%
Avg. revenue growth/yr (9Y) 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.
+33.8%
EBIT margin (trend) 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.
−68.8% (2021) → −0.5% (2026)
Value creation/yr We only publish this rate when it is defensible. Reason: no profitable base year
not computed
Revenue +14.2%/yr
FY22 ₹49.6B
FY23 ₹79.0B
FY24 ₹98.7B
FY25 ₹67.4B
FY26 ₹84.4B
Net income
FY22 −₹23.9B
FY23 −₹17.8B
FY24 −₹14.2B
FY25 −₹6.6B
FY26 ₹5.5B

PAYTM screens 591% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "One 97 Communications Limited Fair Value". https://www.fairvalue-calculator.com/stock/PAYTM

Peer Group

Software - Infrastructure · 369 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.

Valuation
Quality Score 52 · Above median
Fair Value upside −85% · Bottom 25%
Profitability
Return on equity (TTM) 4% · Below median
Return on assets 0% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 0% · Below median
Growth and dividend
Revenue growth 18% · Above median
Dividend yield (TTM) 0.1% · Bottom 25%

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/E (TTM) 196.0× · Priciest 25%
P/B 5.36× · Priciest 25%
P/S (TTM) 10.19× · Priciest 25%

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE92 · sector 48
PAST14 · sector 15
HEALTH100 · sector 98
DIVIDEND1 · sector 26

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $480.35 $365.74 −24%
Oracle Corporation ORCL $158.78 $117.84 −26%
Palo Alto Networks, Inc PANW $333.26 $36.50 −89%
Fortinet, Inc FTNT $156.29 $61.46 −61%
Synopsys, Inc SNPS $393.84 $101.19 −74%
Block, Inc XYZ A$111.01 A$70.69 −36%
CoreWeave, Inc CRWV $105.26 $71.79 −32%
NetApp, Inc NTAP $190.64 $154.83 −19%
Adyen N.V ADYEN €1,007 €707.53 −30%
MongoDB, Inc MDB $368.74 $93.91 −75%

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Frequently asked questions

Is One 97 Communications Limited (PAYTM) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹241.68 versus a price of ₹1,670, about −86% upside (overvalued).
What is the fair value of PAYTM?
Our model-based fair value for One 97 Communications Limited is ₹241.68 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹1,670.
What is the quality score of PAYTM?
One 97 Communications 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 One 97 Communications Limited (PAYTM)?
Our model-based price target is the fair value of ₹241.68 (as of Aug 19, 2026) from 12 valuation models. Cautious scenario ₹181.26, optimistic scenario ₹302.10. It is a calculation from audited fundamentals, not an analyst target.
What is the One 97 Communications Limited stock forecast for 2026?
Our models put fair value at ₹241.68, about −86% upside versus a price of ₹1,670 (overvalued). Cautious scenario ₹181.26, optimistic scenario ₹302.10. The calculation is refreshed regularly with new filings.
What is the revenue of One 97 Communications Limited (PAYTM)?
One 97 Communications Limited reported trailing-twelve-month revenue of about ₹84.4B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of PAYTM?
The net profit margin of One 97 Communications Limited is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does One 97 Communications Limited pay a dividend?
One 97 Communications Limited currently shows a dividend yield of about 0.06% relative to its recent price (as of Aug 19, 2026).
What is the intrinsic value of One 97 Communications Limited (PAYTM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For One 97 Communications Limited it is ₹241.68 per share (as of Aug 19, 2026), against a price of ₹1,670. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is One 97 Communications Limited stock overvalued or undervalued in 2026?
As of Aug 19, 2026, PAYTM trades above its calculated fair value: price ₹1,670, fair value ₹241.68, a gap of about −86% (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 PAYTM?
No. The price is what the market pays today (₹1,670); the fair value is what the company's own numbers justify (₹241.68). For One 97 Communications Limited the two are ₹1,428 per share apart. That gap is exactly why we show both numbers side by side.
How much is One 97 Communications Limited worth?
The market values One 97 Communications Limited at about ₹860B (market capitalisation, as of Aug 19, 2026). Per share that is ₹1,670; our models calculate a fair value of ₹241.68 per share.
What do the bullish and bearish scenarios say about PAYTM?
Our models span a range for One 97 Communications Limited: cautious scenario ₹181.26, base ₹241.68, optimistic ₹302.10 per share (as of Aug 19, 2026, price ₹1,670). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PAYTM?
One 97 Communications Limited trades at a price-to-earnings ratio of 196.0 (as of Aug 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹241.68 is built from several models across several years. Other multiples: P/B 5.4, P/S 10.2.
How solid is the balance sheet of One 97 Communications Limited (PAYTM)?
Balance-sheet figures for One 97 Communications Limited (as of Aug 19, 2026): return on equity 3.6%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is PAYTM from its 52-week high?
One 97 Communications Limited trades at ₹1,670, about 21% below its 52-week high of ₹1,382 and 95% above the low of ₹857.15 (as of Aug 19, 2026). Distance from the high says nothing about value: that is what the fair value of ₹241.68 is for.
Which stocks are comparable to One 97 Communications Limited?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc, Fortinet, 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 One 97 Communications Limited stock attractive at the current price?
The data as of Aug 19, 2026: price ₹1,670, calculated fair value ₹241.68 (−86%), Quality Score 52/100, from 12 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 PAYTM calculated?
We run One 97 Communications Limited through 12 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 ₹241.68, with the spread shown as a cautious and an optimistic scenario.
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