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TVS Motor Company Limited (TVSMOTOR) fair value: what the stock is really worth

We calculate from audited financials what TVS Motor Company 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.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · IN · ISIN INE494B01023

TM Broad data Sep 18, 2026

TVS Motor Company Limited

TVSMOTOR · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹1,398 · Strongly overvalued (−66%)
!Quality 46/100
!Expensive Growth (revenue 5y +23.6 %/yr)
!Thin margins · 5.4% net margin (TTM)
!Moderate debt · negative free cash flow
·0.29% dividend yield
!Trails peers (5/13)
!Moderate moat 60/100
!Insider activity 40/100
!Weak on dividend: 6 out of 100

What runs behind every stock

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

Price vs Fair Value

₹4,466 ₹491.25 Fair Value ₹1,398 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.

How to read this chart

60‑month range ₹491.25 – ₹4,466 · fair‑value band ₹994.82 – ₹2,182 · the ₹4,171 price screens above the ₹1,398 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.

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Company profile

TVS Motor Company Limited, together with its subsidiaries, engages in the manufacture and sale of automotive vehicles and components, spare parts, and accessories in India and South Africa. It operates through Automotive Vehicles & Parts and Related Investments; and Investment Held in Financial Services segments.

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TVS Motor Company Limited, together with its subsidiaries, engages in the manufacture and sale of automotive vehicles and components, spare parts, and accessories in India and South Africa. It operates through Automotive Vehicles & Parts and Related Investments; and Investment Held in Financial Services segments. The company offers motorcycles under the Apache RTR, Apache RR, Ronin, Raider, Radeon, StaR City+, and Sport brand names; scooters under the Jupiter, Jupiter 1255, Ntorq, and Zest 110 brands; electric vehicles under the TVS X and iQUBE brands; mopeds under the XL 100 brand name; and three wheelers under the TVS King brand name. It also provides e-bikes under the Cilo, Simpel, and Allegro brands; e-cargo bikes and accessories; electric mobility, predictive analytics, and industrial IoT solutions; and financing services for two-wheelers. In addition, the company is involved procurement, refurbishment, and retailing of the pre-owned multi-brand two-wheeler motorcycles and scooters; and development, design, manufacture, sale and distribution of high-tech products and components in the field of personal e-mobility. The company was incorporated in 1992 and is headquartered in Chennai, India. TVS Motor Company Limited operates as a subsidiary of TVS Holdings Limited.

Stock analysis

TVS Motor Company Limited (TVSMOTOR) currently trades at ₹4,171, while our model-based Fair Value estimate is ₹1,398, implying the stock looks roughly 198.3% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹1,678 per share, and 0 of the 17 models we run sit above the ₹4,171 price.

Bear case: the Dividend Discount group reads lowest at ₹206.48, and 17 of the 17 models stay below the price. Evidence for this calculation is high.

Scenario range: ₹994.82 (bear) to ₹2,182 (bull), the price of ₹4,171 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 46/100 (below-average quality), in the Consumer Cyclical sector.

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

TVS Motor Company Limited reported revenue of ₹561B in FY2026 versus ₹244B in FY2022, a compound +23.2%/yr. Reported net income was ₹30.2B in FY2026, compounding +41.3%/yr from FY2022.

Key figures

Market cap ₹2.0T (≈ $20.6B) · P/E ratio 65.5 · P/S ratio 3.53 · EPS (TTM) ₹63.62 · Dividend yield 0.3% · Net margin 5.4% · Return on equity 31.6% · Return on assets (EBIT) 20.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades near its 52-week high and 58% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −14% fair-value upside, at −66%, TVSMOTOR screens richer than that median.

Fair Value models

Bear ₹994.82 Fair Value ₹1,398 Bull ₹2,182
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 (₹24.59 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. 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.
Highest evidence
EPV ₹986.79 ₹1,191 ₹1,372 74
ROIC Compounder ₹1,236 ₹1,835 ₹2,665 70
Owner Earnings ₹187.65 ₹629.11 ₹1,564 67
All 17 models by family
DCF Models
Owner Earnings ₹187.65 ₹629.11 ₹1,564 67
Earnings-Based
Graham-Dodd ₹432.13 ₹2,817 ₹3,942 63
Lynch FV ₹819.40 ₹1,171 ₹1,522 61
PEG = 1.0 ₹819.40 ₹1,171 ₹1,522 57
EPV ₹986.79 ₹1,191 ₹1,372 74
Dividend Discount
Gordon GGM ₹115.46 ₹252.07 ₹424.11 65
DDM Multi-Stage ₹115.46 ₹206.48 ₹262.69 66
Multiples
P/E Multiple ₹1,049 ₹1,398 ₹1,748 63
P/S Multiple ₹810.25 ₹1,080 ₹1,350 58
P/B Multiple ₹604.11 ₹805.48 ₹1,007 55
EV/EBIT ₹1,856 ₹2,530 ₹3,205 66
EV/EBITDA ₹1,422 ₹1,952 ₹2,483 67
EV/Revenue ₹823.51 ₹1,248 ₹1,673 53
Asset-Based
NCAV (Graham) ₹100.68 ₹134.92 ₹201.37 54
Economic Profit
Residual Income ₹504.74 ₹745.62 ₹8,084 64
ROIC Compounder ₹1,236 ₹1,835 ₹2,665 70
Growth Earnings
Growth-Adj P/E ₹1,175 ₹1,678 ₹2,182 67

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Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 76

Profitability 60
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+27.0%
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.
+20.4%
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.
+23.6%
Revenue growth 21 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.
+15.1%
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. Basis: EBIT basis. 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.
≈ +12.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.7%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.37% vs 24%, picking up
Profit margin 2005 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.7% → 13%
⚠ Rate on operating basis: 2026 sits 79% above its own trend.

TVSMOTOR screens 198% overvalued. Compare with Tesla, Inc →

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Peer GroupHow 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.Auto Manufacturers · 113 stocks

Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −66% · Bottom 25%
Profitability
Return on equity (TTM) 32% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 12% · Top 25%
Growth and dividend
Revenue growth 31% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Balance sheet
Debt / equity 1.31× · Highest 25%

Valuation Multiplesvs Auto Manufacturers median · lower = cheaper

P/E (TTM) 65.5× · Priciest 25%
P/B 17.95× · Priciest 25%
P/S (TTM) 3.06× · Priciest 25%
EV/EBITDA 22.9× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 42
FUTURE (revenue growth)100 · sector 27
PAST (return on equity)100 · sector 17
HEALTH (low debt)35 · sector 93
DIVIDEND (yield)6 · sector 51

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 Auto Manufacturers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Tesla, Inc TSLA $356.58 $42.25 −88%
Toyota Motor Corporation TM $188.78 $216.15 +14%
BYD Company 81211 HK$68.15 HK$43.27 −37%
Hyundai Motor Company 005380 363,000 KRW 372,872 KRW +3%
Ferrari N.V RACE €356.20 €328.58 −8%
General Motors Company GM $85.37 $52.69 −38%
Ford Motor Company F $13.35 $11.51 −14%
Mercedes-Benz Group MBG €45.37 €106.16 +134%
Dr. Ing. h.c. F. Porsche AG P911 €45.27 €21.98 −51%
Maruti Suzuki India Limited MARUTI ₹12,338 ₹8,236 −33%

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Cite: Fair Value Calculator (2026). "TVS Motor Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TVSMOTOR

Frequently asked questions

Is TVS Motor Company Limited (TVSMOTOR) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of ₹1,398 versus a price of ₹4,171, about −66% upside (overvalued).
What is the fair value of TVSMOTOR?
Our model-based fair value for TVS Motor Company Limited is ₹1,398 (as of Sep 18, 2026), built from audited fundamentals. The current price: ₹4,171.
What is the quality score of TVSMOTOR?
TVS Motor Company Limited has a Quality Score of 46/100. 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 TVS Motor Company Limited (TVSMOTOR)?
Our model-based price target is the fair value of ₹1,398 (as of Sep 18, 2026) from 17 valuation models. Cautious scenario ₹994.82, optimistic scenario ₹2,182. It is a calculation from audited fundamentals, not an analyst target.
What is the TVS Motor Company Limited stock forecast for 2026?
Our models put fair value at ₹1,398, about −66% upside versus a price of ₹4,171 (overvalued). Cautious scenario ₹994.82, optimistic scenario ₹2,182. The calculation is refreshed regularly with new filings.
What is the revenue of TVS Motor Company Limited (TVSMOTOR)?
TVS Motor Company Limited reported trailing-twelve-month revenue of about ₹561B (latest available figure, as of Sep 18, 2026).
Does TVS Motor Company Limited pay a dividend?
TVS Motor Company Limited currently shows a dividend yield of about 0.29% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of TVS Motor Company Limited (TVSMOTOR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TVS Motor Company Limited it is ₹1,398 per share (as of Sep 18, 2026), against a price of ₹4,171. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is TVS Motor Company Limited stock overvalued or undervalued in 2026?
As of Sep 18, 2026, TVSMOTOR trades above its calculated fair value: price ₹4,171, fair value ₹1,398, a gap of about −66% (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 TVSMOTOR?
No. The price is what the market pays today (₹4,171); the fair value is what the company's own numbers justify (₹1,398). For TVS Motor Company Limited the two are ₹2,773 per share apart. That gap is exactly why we show both numbers side by side.
How much is TVS Motor Company Limited worth?
The market values TVS Motor Company Limited at about ₹2.0T (market capitalisation, as of Sep 18, 2026). Per share that is ₹4,171; our models calculate a fair value of ₹1,398 per share.
What do the bullish and bearish scenarios say about TVSMOTOR?
Our models span a range for TVS Motor Company Limited: cautious scenario ₹994.82, base ₹1,398, optimistic ₹2,182 per share (as of Sep 18, 2026, price ₹4,171). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TVSMOTOR?
TVS Motor Company Limited trades at a price-to-earnings ratio of 65.5 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,398 is built from several models across several years. Other multiples: P/B 18.0, P/S 3.1, EV/EBITDA 22.9.
How solid is the balance sheet of TVS Motor Company Limited (TVSMOTOR)?
Balance-sheet figures for TVS Motor Company Limited (as of Sep 18, 2026): return on equity 31.6%, debt of 1.31 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is TVSMOTOR from its 52-week high?
TVS Motor Company Limited trades at ₹4,171, about 5% below its 52-week high of ₹3,956 and 58% above the low of ₹2,646 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,398 is for.
Which stocks are comparable to TVS Motor Company Limited?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Hyundai Motor 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 TVS Motor Company Limited stock attractive at the current price?
The data as of Sep 18, 2026: price ₹4,171, calculated fair value ₹1,398 (−66%), Quality Score 46/100, from 17 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 TVSMOTOR calculated?
We run TVS Motor Company Limited through 17 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 ₹1,398, 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 16.1 % above its aggregate fair value. TVS Motor Company 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 TVS Motor Company Limited (TVSMOTOR)?
The closing price on Sep 18, 2026 was ₹4,171. Our model-based fair value is ₹1,398, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TVS Motor Company Limited right now?
The price sits above even our optimistic bull case (₹2,182). The favourable scenario is already priced in. Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹994.82 to ₹2,182) leaves room in how you read the outcome.
Where does the earnings growth of TVS Motor Company Limited (TVSMOTOR) come from?
Earnings per share at TVS Motor Company Limited grew +21.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +16.9 %, EBIT margin +2.5 %, tax rate −1.4 %, residual (interest, one-offs) +2.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of TVS Motor Company Limited

How large is the market capitalisation of TVS Motor Company Limited (TVSMOTOR)?
The market capitalisation of TVS Motor Company Limited is ₹2.0T (≈ $20.6B). 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 TVS Motor Company Limited (TVSMOTOR)?
The price-to-sales ratio of TVS Motor Company Limited is 3.53 (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 TVS Motor Company Limited (TVSMOTOR)?
Earnings per share at TVS Motor Company Limited are ₹63.62 (price ÷ EPS = P/E 65.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TVS Motor Company Limited (TVSMOTOR)?
The dividend yield of TVS Motor Company Limited is 0.3% (payout 18.9%). 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 TVS Motor Company Limited (TVSMOTOR)?
The net margin of TVS Motor Company Limited is 5.4% (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 TVS Motor Company Limited (TVSMOTOR)?
The return on equity (ROE) of TVS Motor Company Limited is 31.6% (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 TVS Motor Company Limited (TVSMOTOR)?
On an EBIT basis the return on assets of TVS Motor Company Limited is 20.2% (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 TVS Motor Company Limited (TVSMOTOR)?
The operating margin of TVS Motor Company Limited is 12.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TVS Motor Company Limited (TVSMOTOR)?
Revenue at TVS Motor Company Limited is growing +31.3% versus a year earlier (3y avg +20.4%). 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 TVS Motor Company Limited (TVSMOTOR)?
Earnings per share at TVS Motor Company Limited are growing +19.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does TVS Motor Company Limited (TVSMOTOR) generate?
The free cash flow of TVS Motor Company Limited is −₹15.8B (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 TVS Motor Company Limited (TVSMOTOR) carry?
The net debt of TVS Motor Company Limited is ₹283B (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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