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

As of Nov 6, 2026: fair value (intrinsic value) of One 97 Communications Limited stock ₹242, price ₹1,794, that is 86.5% below the price, quality 54 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.

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Technology IN · ISIN INE982J01020

O9 One 97 Communications Limited logo Thin data Nov 8, 2026

One 97 Communications Limited

PAYTM · NSE
Solid, but very expensive

Our calculation puts a fair price 87% below what the stock costs today.

Low debt
Revenue last quarter +29% vs. a year ago.
Quality 54/100
Expensive Growth (revenue 5y +24.7 %/yr in INR)
Thin margins · 9.0% net margin (TTM)
Fair value ₹241.87 · Strongly overvalued (−86.5%)
Negative free cash flow
Trails peers (3/11)
Narrow moat 34/100 · thin data
Thin data
Extreme value

Risks from the AI analysis

🚩RBI licence cancellation for payments bank🚩Dominance of PhonePe and Google Pay in UPI
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

₹1,850 ₹317.15 Fair Value ₹241.87 Nov 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range ₹317.15 – ₹1,850 · fair‑value band ₹181.40 – ₹302.34 · the ₹1,794 price screens above the ₹241.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

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.

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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.

Stock analysis

One 97 Communications Limited (PAYTM) currently trades at ₹1,794, while our model-based Fair Value estimate is ₹241.87, 87% 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 ₹299.43 per share, and 0 of the 10 models we run sit above the ₹1,794 price.

Bear case: the Economic Profit group reads lowest at ₹159.04, and 10 of the 10 models stay below the price. Data coverage for this calculation is low.

Scenario range: ₹181.40 (bear) to ₹302.34 (bull), the price of ₹1,794 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 54/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

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.

Key figures

Market cap ₹1.2T (≈ $12.4B) Large · P/E ratio 136.1 · P/S ratio 12.1 · EPS (TTM) ₹13.18 · Net margin 9.0% · Return on equity 5.3% · Return on assets (EBIT) −8.8% (5-year average) · Operating margin 4.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).

What moves the price

The share trades about 3% below its 52-week high and 87% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −87%, PAYTM screens richer than that median.

Fair Value models

Bear ₹181.40 Fair Value ₹241.87 Bull ₹302.34
Price ₹1,794 · Downside -86.5%
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 (₹8.02 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 ₹158.44 ₹159.04 ₹168.08 71
EV/EBITDA ₹311.69 ₹348.67 ₹385.64 67
Growth-Adj P/E ₹209.60 ₹299.43 ₹389.26 67
All 10 models by family
Earnings-Based
Graham-Dodd ₹58.74 ₹409.64 ₹574.87 63
Lynch FV ₹141.31 ₹201.88 ₹262.44 61
PEG = 1.0 ₹141.31 ₹201.88 ₹262.44 57
Multiples
P/E Multiple ₹181.40 ₹241.87 ₹302.34 63
P/S Multiple ₹110.14 ₹146.85 ₹183.56 58
P/B Multiple ₹593.30 ₹791.06 ₹988.83 55
EV/EBITDA ₹311.69 ₹348.67 ₹385.64 67
Asset-Based
NCAV (Graham) ₹118.07 ₹178.89 ₹223.61 54
Economic Profit
Residual Income ₹158.44 ₹159.04 ₹168.08 71
Growth Earnings
Growth-Adj P/E ₹209.60 ₹299.43 ₹389.26 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 25
How much profit the company makes from its sales and capital
Quality Growth 94
Are margins and returns getting better?
Cashflow 4
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 38
Does it invest with discipline instead of growing at any price?
Low Volatility 72
How calm the share price moves, does not count
Price momentum 83
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 84
Distance to the 52-week high, does not count
New shares 74
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.2%
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.
+2.2%
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.
+24.7%
Start year 2021 (pandemic)
Revenue growth 9 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%
Profit 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)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

PAYTM screens overvalued: fair value 87% below the price. Compare with Microsoft Corporation →

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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.Software - Infrastructure · 345 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside −86.5% · Bottom 25%
Profitability
Return on equity (12 months) 5.3% · Below median
Return on assets 2.3% · Below median
Net margin (12 months) 9.0% · Above median
Operating margin (12 months) 4.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 28.5% · Top 25%

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/E (12 months) 136.1× · Priciest 25%
P/B 7.24× · Priciest 25%
P/S (12 months) 12.15× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)100 · sector 60
PAST (return on equity)21 · sector 23
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 31

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

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value Compare
Fortinet, Inc FTNT $118.84 $134.76 +13% vs PAYTM
Microsoft Corporation MSFT $530.61 $583.67 +10% vs PAYTM
Oracle Corporation ORCL $116.10 $111.97 −4% vs PAYTM
NetApp, Inc NTAP $169.19 $156.80 −7% vs PAYTM
Block, Inc XYZ $85.48 $76.43 −11% vs PAYTM
Synopsys, Inc SNPS $450.46 $288.23 −36% vs PAYTM
Zscaler, Inc ZS $197.66 $101.45 −49% vs PAYTM
Palantir Technologies Inc PLTR $160.38 $42.20 −74% vs PAYTM
CrowdStrike Holdings CRWD $216.90 $37.97 −82% vs PAYTM
Palo Alto Networks, Inc PANW $313.84 $39.54 −87% vs PAYTM

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One 97 Communications Limited: fair value per Fair Value Calculator

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

Frequently asked questions

Is One 97 Communications Limited (PAYTM) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ₹241.87 versus a price of ₹1,794, about 87% lower (overvalued).
What is the fair value of PAYTM?
Our model-based fair value for One 97 Communications Limited is ₹241.87 (as of Nov 8, 2026), built from audited fundamentals. The current price: ₹1,794.
What is the quality score of PAYTM?
One 97 Communications Limited has a Quality Score of 54/100. 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 ₹241.87 (as of Nov 8, 2026) from 10 valuation models. Cautious scenario ₹181.40, optimistic scenario ₹302.34. 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 ₹241.87, about 87% lower versus a price of ₹1,794 (overvalued). Cautious scenario ₹181.40, optimistic scenario ₹302.34. 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 ₹95.5B (latest available figure, as of Nov 8, 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 ₹241.87 per share (as of Nov 8, 2026), against a price of ₹1,794. It is the blended result of 10 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is One 97 Communications Limited stock overvalued or undervalued in 2026?
As of Nov 8, 2026, PAYTM trades above its calculated fair value: price ₹1,794, fair value ₹241.87, a gap of about −87% (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 (₹1,794); the fair value is what the company's own numbers justify (₹241.87). For One 97 Communications Limited the two are ₹1,553 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 ₹1.2T (market capitalisation, as of Nov 8, 2026). Per share that is ₹1,794; our models calculate a fair value of ₹241.87 per share.
What do the bullish and bearish scenarios say about PAYTM?
Our models span a range for One 97 Communications Limited: cautious scenario ₹181.40, base ₹241.87, optimistic ₹302.34 per share (as of Nov 8, 2026, price ₹1,794). 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 136.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹241.87 is built from several models across several years. Other multiples: P/B 7.2, P/S 12.1.
How solid is the balance sheet of One 97 Communications Limited (PAYTM)?
Balance-sheet figures for One 97 Communications Limited (as of Nov 8, 2026): return on equity 5.3%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is PAYTM from its 52-week high?
One 97 Communications Limited trades at ₹1,794, about 3% below its 52-week high of ₹1,850 and 87% above the low of ₹959.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹241.87 is for.
Which stocks are comparable to One 97 Communications Limited?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 Nov 8, 2026: price ₹1,794, calculated fair value ₹241.87 (−87%), Quality Score 54/100, from 10 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 10 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹241.87 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. One 97 Communications 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 One 97 Communications Limited (PAYTM)?
The closing price on Nov 6, 2026 was ₹1,794. Our model-based fair value is ₹241.87, about 87% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with One 97 Communications Limited right now?
The price sits above even our optimistic bull case (₹302.34). 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 (54/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of One 97 Communications Limited

How large is the market capitalisation of One 97 Communications Limited (PAYTM)?
The market capitalisation of One 97 Communications Limited is ₹1.2T (≈ $12.4B). 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 One 97 Communications Limited (PAYTM)?
The price-to-sales ratio of One 97 Communications Limited is 12.1 (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 One 97 Communications Limited (PAYTM)?
Earnings per share at One 97 Communications Limited are ₹13.18 (price ÷ EPS = P/E 136.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of One 97 Communications Limited (PAYTM)?
The net margin of One 97 Communications Limited is 9.0% (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 One 97 Communications Limited (PAYTM)?
The return on equity (ROE) of One 97 Communications Limited is 5.3% (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 One 97 Communications Limited (PAYTM)?
On an EBIT basis the return on assets of One 97 Communications Limited is −8.8% (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 One 97 Communications Limited (PAYTM)?
The operating margin of One 97 Communications Limited is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at One 97 Communications Limited (PAYTM)?
Revenue at One 97 Communications Limited is growing +28.5% versus a year earlier (3y avg +2.2%). 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 One 97 Communications Limited (PAYTM)?
Earnings per share at One 97 Communications Limited are growing +984% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does One 97 Communications Limited (PAYTM) generate?
The free cash flow of One 97 Communications Limited is −₹86.7B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does One 97 Communications Limited (PAYTM) hold?
One 97 Communications Limited holds more cash than debt, ₹129B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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