Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NHPCNSE:NHPC +0.85%79 EV-to-EBITDA is 20.38 as of Aug. 03, 2026, which is 177% above its 10-year median of 7.35. GuruFocus rates NSE:NHPC with a GF Score™ of 79/100 and a GF Value™ of ₹109.44 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 359 Utilities - Independent Power Producers companies, NHPC ranks worse than 72.98% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, NHPC's enterprise value is ₹1,286,001 Mil.
NHPC's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was ₹63,092 Mil. Therefore, NHPC's EV-to-EBITDA for today is 20.38.
The historical rank and industry rank for NHPC's EV-to-EBITDA or its related term are showing as below:
NSE:NHPC'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 2.72 Med: 7.35 Max: 21.32
Current: 20.4
During the past 13 years, the highest EV-to-EBITDA of NHPC was 21.32. The lowest was 2.72. And the median was 7.35.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
As of today (2026-08-03), NHPC's stock price is ₹78.73.
NHPC's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was ₹3.750. Therefore, NHPC's PE Ratio (TTM) for today is 20.99.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
NHPC's share price for today is ₹78.73.
NHPC's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹3.750.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for NHPC's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Renewable subindustry, NHPC's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NHPC EV-to-EBITDA vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, NHPC's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where NHPC's EV-to-EBITDA falls into.
NHPC's current Enterprise Value is ₹1,286,001 Mil.
NHPC's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹63,092 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NHPC (NSE:NHPC) has a EV-to-EBITDA of 20.38 as of Aug. 03, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on NHPC. This is 177% above median its historical median of 7.35. Over the past decade, NHPC's EV-to-EBITDA has ranged from 2.72 to 21.32. According to the industry distribution chart, NHPC ranks #262 out of 359 companies in the Utilities - Independent Power Producers industry, placing it in the top 73%.
Is NHPC's EV-to-EBITDA too high?
NHPC's current EV-to-EBITDA of 20.38 is 177% above median its 10-year median of 7.35. Over the past 10 years, this metric has ranged from a low of 2.72 to a high of 21.32. The Utilities - Independent Power Producers industry median EV-to-EBITDA is 11.61. NHPC's value of 20.38 is 75.5% above this industry median. Based on the distribution chart, NHPC ranks #262 out of 359 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, NHPC has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NHPC's EV-to-EBITDA compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, NHPC ranks #262 out of 359 companies for EV-to-EBITDA. This places NHPC in the lower half of its industry. The industry median EV-to-EBITDA is 11.61. NHPC's value of 20.38 is 75.5% above this benchmark. Historically, NHPC's own EV-to-EBITDA has ranged from 2.72 to 21.32 over the past decade. While the company's 10-year median is 7.35 vs. the industry median of 11.61, NHPC has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Utilities - Independent Power Producers company?
The median EV-to-EBITDA among Utilities - Independent Power Producers companies is 11.61, based on 359 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NHPC's current EV-to-EBITDA of 20.38 is 75.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on NHPC. For the Utilities - Independent Power Producers industry, the median EV-to-EBITDA is 11.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NHPC's current EV-to-EBITDA is 20.38, which is 177% above median its own 10-year median of 7.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NHPC stock overvalued right now?
Based on GuruFocus' analysis, NHPC (NSE:NHPC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹109.44, compared to a current price of ₹78.73 — trading 28.1% below its estimated fair value. The current EV-to-EBITDA is 20.38, which is 177% above median its 10-year median of 7.35 and 75.5% above the Utilities - Independent Power Producers industry median of 11.61. NHPC's overall GF Score™ is 79/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For NHPC (NSE:NHPC), the current EV-to-EBITDA is 20.38 as of Aug. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NHPC (NSE:NHPC) Overvalued in 2026?
Based on GuruFocus' analysis, NHPC stock appears to be undervalued.
The current stock price of ₹78.73 is trading 28.1% below its estimated GF Value™ of ₹109.44.
GuruFocus considers NHPC to be Modestly Undervalued.
Key valuation signals for NSE:NHPC:
EV-to-EBITDA: 20.38 (177% above median its 10-year median of 7.35)
GF Value™: ₹109.44 vs. price of ₹78.73 (28.1% below fair value)
Industry Position: 75.5% above the Utilities - Independent Power Producers median (#262 of 359)
No single metric tells the full story. See the NSE:NHPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NHPC Ltd is an electric utility company, of which the Indian government owns the vast majority of shares. The company produces electricity through the operation of its portfolio of hydroelectric power plants located across India. Electricity generation (including income from embedded Finance/ Operating leases) is the principal business activity of the Company. NHPC generates a majority of its revenue from the sale of energy to state electricity boards, state energy departments, and their successor companies via long-term agreements. The company has made efforts to expand its electric production capacity with thermal, wind, and solar power generating facilities. NHPC operates its power development and secondary consulting businesses exclusively in India.
79GF Score
Get the complete analysis for NSE:NHPC
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:NHPC has been successfully added to your 
