HDB EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
HDB's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
HDB EV/EBITDA by year
Yearly range of HDB’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 6.3 to 28.7, averaging 21.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 6.3 | 9.9 | 18.7 | 6.3 |
| 2025 | 18.7 | 23.8 | 26.3 | 18.7 |
| 2024 | 21.4 | 23.8 | 26.4 | 23.0 |
| 2023 | 14.4 | 19.5 | 27.6 | 27.5 |
| 2022 | 16.2 | 19.5 | 22.6 | 22.1 |
| 2021 | 18.7 | 24.8 | 28.7 | 18.7 |
| 2020 | 11.6 | 19.7 | 26.2 | 25.0 |
| 2019 | 19.9 | 24.0 | 27.8 | 22.8 |
| 2018 | 23.1 | 25.4 | 28.4 | 23.6 |
| 2017 | 17.4 | 24.5 | 28.6 | 28.6 |
| 2016 | 19.6 | 21.9 | 23.6 | 19.8 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is HDB EV/EBITDA High or Low Right Now?
HDFC Bank Limited's EV/EBITDA is currently 6.3, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for HDB is approximately 23.3. See all HDB valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.