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Yes Bank Limited (YESBANK) Fair Value & Analysis

Financial Services · IN · Market cap ₹714B

YB Yes Bank Limited YESBANK · BSE
Price₹22.59
Fair Value₹16.78
Upside-25.7%
Quality51/100
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Strengths

Healthy Growth (revenue 5y +15.5 %/yr)
Highly profitable · 23.2% net margin
Moderate debt · generates free cash flow

Risks

!Trades 35% ABOVE our fair value of ₹16.78
!Moderate moat 49/100
Healthy Growth (revenue 5y +15.5 %/yr)
Highly profitable · 23.2% net margin
Moderate debt · generates free cash flow
Moderate moat 49/100
Evidence: High Range ₹12.59 – ₹20.98 Share as image

Fair value as of: Aug 25, 2026

From 6 valuation models · updated today

Share price −1.6% over the past month.

A solid business, but trading 35% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (₹20.98). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

₹31.37 ₹10.80 Fair Value ₹16.78 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.

How to read this chart

60‑month range ₹10.80 – ₹31.37 · fair‑value band ₹12.59 – ₹20.98 · the ₹22.59 price screens above the ₹16.78 fair value. Dashed = 300-day average. As of Aug 25, 2026.

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Analysis

Yes Bank Limited (YESBANK) currently trades at ₹22.59, while our model-based Fair Value estimate is ₹16.78, implying the stock looks roughly 25.7% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Financial Services 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, Yes Bank Limited generated revenue of ₹163B at a net margin of 23.2%. Revenue grew 19.8% year over year. It earns a return on equity of 7.5%. Net debt stands at ₹271B. Fundamentals as of Aug 25, 2026

Our scenario range runs from ₹12.59 (bear case) to ₹20.98 (bull case); at ₹22.59, 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 about 12% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -9% fair-value upside, at -26%, YESBANK 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 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 ₹13.33 ₹14.04 ₹15.24 76
Gordon GGM ₹1.42 ₹3.10 ₹5.22 70
P/E Multiple ₹10.91 ₹14.54 ₹18.18 63
All 6 models by family
Dividend Discount
Gordon GGM ₹1.42 ₹3.10 ₹5.22 70
DDM Multi-Stage ₹1.42 ₹2.54 ₹3.23 61
Multiples
P/E Multiple ₹10.91 ₹14.54 ₹18.18 63
P/B Multiple ₹14.26 ₹19.02 ₹23.77 55
Asset-Based
NCAV (Graham) ₹8.15 ₹10.92 ₹16.30 50
Economic Profit
Residual Income ₹13.33 ₹14.04 ₹15.24 76

Widest divergence: Multiples (₹14.54) versus Dividend Discount (₹2.54). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 18.8
P/S ratio 4.39 TTM
Net margin 23.2% TTM
Return on equity 7.5% TTM
Return on assets 0.9% TTM
Operating margin 54.7% TTM
More key figures
Profitability
EPS (TTM) ₹1.20
Growth
Revenue (TTM) ₹163B TTM
Revenue growth (YoY) +19.8% 3y avg +15.3%
EPS growth (YoY) +11.8%
Balance sheet & cash flow
Free cash flow ₹205B FY2026
Net debt ₹271B FY2026 · ≈ 1.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 58 · Market factors (momentum, volatility) 63

Profitability 28
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 66
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

Yes Bank Limited engages in the provision of banking and financial products and services primarily in India. It operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations segments.

Full company description

Yes Bank Limited engages in the provision of banking and financial products and services primarily in India. It operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations segments. The company provides retail banking products, including savings accounts; fixed and recurring deposits; home, car, bike, commercial vehicle, construction equipment, gold, personal, mortgage, and secured business loans; loans against securities; and health care and printing equipment finance, as well as business banking services to micro, small, and medium enterprises. It offers corporate banking services, such as working capital, project, supply chain, agri commodity, and trade finance, as well as term loans; and cash management services, debt capital markets, treasury, investment banking solution, foreign currency loans and overseas financing, liquidity management, and other services. In addition, the company offers financial and advisory services to ministries under the union and state governments, central and state public sector undertakings, boards, and other affiliates; and banking solutions to cooperative banks, mutual funds, stockbrokers, non-banking finance companies (NBFCs), payment aggregators, regulated payment operators, non-resident Indians, and other financial institutions. Further, it provides debit and credit cards, wealth management and insurance products, and mobile and online banking services; transaction banking services; mergers and acquisition advisory; merchant acquiring; and remittance solutions, as well as operates ATMs and bunch note acceptors/recyclers. The company was incorporated in 2003 and is headquartered in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Yes Bank Limited reported revenue of ₹184B in FY2026 versus ₹91.2B in FY2022, a compound +19.2%/yr. Reported net income was ₹35.1B in FY2026, compounding +34.8%/yr from FY2022.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹184B
Latest YoY
+9.5%
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.
+15.3%
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.
+15.5%
Avg. revenue growth/yr (12Y) 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.
+13.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+21.4% (21.4 + 0.0)
Revenue +19.2%/yr
FY22 ₹91.2B
FY23 ₹120B
FY24 ₹140B
FY25 ₹168B
FY26 ₹184B
Net income +34.8%/yr
FY22 ₹10.6B
FY23 ₹7.4B
FY24 ₹12.9B
FY25 ₹24.5B
FY26 ₹35.1B

YESBANK screens 26% overvalued. Compare with DBS Group →

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Cite: Fair Value Calculator (2026). "Yes Bank Limited Fair Value". https://www.fairvalue-calculator.com/stock/YESBANK.BSE

Peer Group

Banks - Regional · 1090 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 60 · Top 25%
Fair Value upside −26% · Bottom 25%
Return on equity (TTM) 7% · Below median
Return on assets 1% · Below median
Net margin (TTM) 23% · Below median
Operating margin (TTM) 55% · Top 25%
Revenue growth 20% · Top 25%
Dividend yield (TTM) 0.6% · Bottom 25%
Debt / equity 1.50× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 18.8× · Pricier than 75% of peers
P/B 1.40× · Pricier than median
P/S (TTM) 4.39× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
PEG 0.62× · Cheaper than 75% of peers

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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).

Stock Price Fair Value vs Fair Value
DBS Group D05 75.85 SGD 40.48 SGD -47%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.92 €6.06 -12%
HDFC Bank Limited HDB $23.17 $23.73 +2%
BNP Paribas SA BNP €112.00 €144.64 +29%
UniCredit S.p.A UCG €84.75 €77.62 -8%
Mizuho Financial Group MFG $10.87 $9.85 -9%
ICICI Bank Limited ICICIBANK ₹1,432 ₹835.21 -42%
CaixaBank, S.A CABK €12.91 €8.85 -31%
Oversea-Chinese Banking Corporation O39 31.19 SGD 19.80 SGD -37%

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Frequently asked questions

Is Yes Bank Limited (YESBANK) overvalued or undervalued?
As of Aug 25, 2026, our model estimates a fair value of ₹16.78 versus a price of ₹22.59, about −26% (overvalued).
What is the fair value of YESBANK?
Our model-based fair value for Yes Bank Limited is ₹16.78 (as of Aug 25, 2026), built from audited fundamentals. The current price: ₹22.59.
What is the quality score of YESBANK?
Yes Bank Limited has a Quality Score of 51/100. 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 revenue of Yes Bank Limited (YESBANK)?
Yes Bank Limited reported trailing-twelve-month revenue of about ₹163B (latest available figure, as of Aug 25, 2026).
What is the net profit margin of YESBANK?
The net profit margin of Yes Bank Limited is about 23.2%, meaning it keeps roughly 23.2% of revenue as net income. Based on the latest reported figures.

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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