` Comparison: SBIN vs BAJFINANCE - Alpha Spread

SBIN
vs
BAJFINANCE

Over the past 12 months, SBIN has significantly outperformed BAJFINANCE, delivering a return of +51% compared to the BAJFINANCE's +16% growth.

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SBIN
BAJFINANCE
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Valuation Comparison

SBIN Intrinsic Value
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BAJFINANCE Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
State Bank of India
NSE:SBIN
1 099.6 INR
Bajaj Finance Ltd
NSE:BAJFINANCE
937.9 INR
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
SBIN, BAJFINANCE

SBIN
BAJFINANCE
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
State Bank of India
Revenue
Bajaj Finance Ltd
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
SBIN, BAJFINANCE

SBIN
BAJFINANCE
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
State Bank of India
NSE:SBIN
FCF is not applicable for financial companies
Bajaj Finance Ltd
NSE:BAJFINANCE
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What is Free Cash Flow?

Gross Margin

SBIN
BAJFINANCE
60.5%
LTM 3Y Avg 5Y Avg 10Y Avg
State Bank of India
Not applicable for financial companies
Bajaj Finance Ltd

Operating Margin

SBIN
BAJFINANCE
43.2%
LTM 3Y Avg 5Y Avg 10Y Avg
State Bank of India
Not applicable for financial companies
Bajaj Finance Ltd

Net Margin

SBIN
21.1%
BAJFINANCE
22.9%

FCF Margin

SBIN
BAJFINANCE
-83.6%
LTM 3Y Avg 5Y Avg 10Y Avg
State Bank of India
Not applicable for financial companies
Bajaj Finance Ltd

ROE

SBIN
15.5%
BAJFINANCE
19%

ROA

SBIN
1.1%
BAJFINANCE
3.9%

ROIC

SBIN
BAJFINANCE
5.8%
LTM 3Y Avg 5Y Avg 10Y Avg
State Bank of India
Not applicable for financial companies
Bajaj Finance Ltd

ROCE

SBIN
BAJFINANCE
8.7%
LTM 3Y Avg 5Y Avg 10Y Avg
State Bank of India
Not applicable for financial companies
Bajaj Finance Ltd

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
SBIN, BAJFINANCE

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SBIN
BAJFINANCE
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Performance Gap
SBIN, BAJFINANCE

Performance Gap Between SBIN and BAJFINANCE
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Performance By Year
SBIN, BAJFINANCE

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SBIN
BAJFINANCE
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Compare SBIN to other stocks
HDFCBANK
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ICICIBANK
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AXISBANK
Axis Bank Ltd
Cheaper
vs SBIN
KOTAKBANK
Kotak Mahindra Bank Ltd
More expensive
vs SBIN
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett