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TVS Motor Company (TVSMOTOR) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹1.7T

TM TVS Motor Company TVSMOTOR · NSE
Price₹4,375
Fair Value₹1,398
Upside-68.0%
Quality59/100
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Expensive Growth
Thin margins · 5.4% net margin
Moderate debt · negative free cash flow
0.33% dividend yield
Mixed vs. peers (6/13)
Moderate moat 60/100
Evidence: High Range ₹994.82 – ₹1,748 Share as image

Fair value as of: Jul 17, 2026

From 17 valuation models · updated 22 days ago

Share price +17.9% over the past month.

A solid business, but screening 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹1,748). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹4,455 ₹491.25 Fair Value ₹1,398 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ₹491.25 – ₹4,455 · fair‑value band ₹994.82 – ₹1,748 · the ₹4,375 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 Jul 17, 2026.

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Analysis

TVS Motor Company (TVSMOTOR) currently trades at ₹4,375, while our model-based Fair Value estimate is ₹1,398, implying the stock looks roughly 68.0% overvalued today. We read business quality at 59/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, TVS Motor Company generated revenue of ₹561B at a net margin of 5.4%. Revenue grew 31.3% year over year. It earns a return on equity of 31.6%. Net debt stands at ₹283B. Fundamentals as of Jul 17, 2026

Our scenario range runs from ₹994.82 (bear case) to ₹1,748 (bull case); at ₹4,375, the current price sits above 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 near its 52-week high and 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at -68%, TVSMOTOR screens richer 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
Residual Income ₹504.74 ₹745.62 ₹8,084 76
ROIC Compounder ₹1,236 ₹1,835 ₹2,665 72
Gordon GGM ₹115.46 ₹252.07 ₹424.11 70
All 17 models by family
DCF Models
Owner Earnings ₹187.65 ₹629.11 ₹1,564 31
Earnings-Based
Graham-Dodd ₹432.13 ₹2,817 ₹3,942 54
Lynch FV ₹819.40 ₹1,171 ₹1,522 50
PEG = 1.0 ₹819.40 ₹1,171 ₹1,522 46
EPV ₹986.79 ₹1,191 ₹1,372 59
Dividend Discount
Gordon GGM ₹115.46 ₹252.07 ₹424.11 70
DDM Multi-Stage ₹115.46 ₹206.48 ₹262.69 61
Multiples
P/E Multiple ₹953.24 ₹1,271 ₹1,589 63
P/S Multiple ₹810.25 ₹1,080 ₹1,350 58
P/B Multiple ₹453.08 ₹604.11 ₹755.14 55
EV/EBIT ₹1,856 ₹2,530 ₹3,205 53
EV/EBITDA ₹1,555 ₹2,129 ₹2,704 54
EV/Revenue ₹1,196 ₹1,781 ₹2,366 43
Asset-Based
NCAV (Graham) ₹100.68 ₹134.92 ₹201.37 50
Economic Profit
Residual Income ₹504.74 ₹745.62 ₹8,084 76
ROIC Compounder ₹1,236 ₹1,835 ₹2,665 72
Growth Earnings
Growth-Adj P/E ₹1,126 ₹1,609 ₹2,091 68

Widest divergence: Growth Earnings (₹1,609) versus Asset-Based (₹134.92). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) ₹561B
Revenue growth (YoY) +31.3%
Net margin 5.4%
Return on equity 31.6%
Free cash flow −₹15.8B FY2026
P/E ratio 53.2
More key figures
Operating margin 12.5%
EPS (TTM) ₹63.62
Dividend yield 0.4%
EPS growth (YoY) +19.1%
Net debt ₹283B FY2026

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 43 · Market factors (momentum, volatility) 84

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 86
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 99
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

TVS Motor Company 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.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹561B
Latest YoY
+27.0%
Avg. growth/yr (3Y)
+20.4%
Avg. growth/yr (5Y)
+23.6%
Avg. growth/yr (21Y)
+15.1%
Revenue +23.2%/yr
FY22 ₹244B
FY23 ₹321B
FY24 ₹389B
FY25 ₹441B
FY26 ₹561B
Net income +41.3%/yr
FY22 ₹7.6B
FY23 ₹13.3B
FY24 ₹16.9B
FY25 ₹22.4B
FY26 ₹30.2B

TVSMOTOR screens 68% overvalued. Compare with Toyota Motor Corporation →

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

Peer Group

Auto Manufacturers · 119 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 59 · Top 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 32% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 5% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth 31% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 1.31× · Higher than 75% of peers

Valuation Multiples vs Auto Manufacturers median · lower = cheaper

P/E (TTM) 56.8× · Pricier than 75% of peers
P/B 17.95× · Pricier than 75% of peers
P/S (TTM) 3.06× · Pricier than 75% of peers
EV/EBITDA 22.9× · Pricier than 75% of peers

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 0 · sector 26
FUTURE 100 · sector 32
PAST 100 · sector 17
HEALTH 35 · sector 94
DIVIDEND 7 · sector 46

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Toyota Motor Corporation TM $179.76 $224.63 +25%
BYD Company 81211 HK$80.55 HK$50.85 -37%
Hyundai Motor Company 005380 425,000 KRW 616,918 KRW +45%
General Motors Company GM $77.72 $56.93 -27%
Bayerische Motoren Werke Aktiengesellschaft BMWM5N 1,909 MXN 2,944 MXN +54%
Ferrari N.V RACE $376.64 $228.05 -39%
Ford Motor Company F C$11.86 C$4.00 -66%
Mercedes-Benz Group BENZ C$20.44 C$35.15 +72%
Volkswagen AG VOW 2,149 CZK 7,191 CZK +235%
Maruti Suzuki India Limited MARUTI ₹13,803 ₹8,236 -40%

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Frequently asked questions

Is TVS Motor Company (TVSMOTOR) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ₹1,398 versus a price of ₹4,375, about −68% (overvalued).
What is the fair value of TVSMOTOR?
Our model-based fair value for TVS Motor Company is ₹1,398 (as of Jul 17, 2026), built from audited fundamentals. The current price is ₹4,375.
What is the quality score of TVSMOTOR?
TVS Motor Company has a Quality Score of 59/100. 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 TVS Motor Company (TVSMOTOR)?
TVS Motor Company reported trailing-twelve-month revenue of about ₹561B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of TVSMOTOR?
The net profit margin of TVS Motor Company is about 5.4%, meaning it keeps roughly 5.4% of revenue as net income. Based on the latest reported figures.
Does TVS Motor Company pay a dividend?
TVS Motor Company currently shows a dividend yield of about 0.36% relative to its recent price (as of Jul 17, 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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