Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, National Refinery's Enterprise Value is ₨82,492 Mil.
National Refinery's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was ₨27,098 Mil. Therefore, National Refinery's EV-to-EBIT ratio for today is 3.04.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, National Refinery's Enterprise Value is ₨82,492 Mil.
National Refinery's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was ₨29,292 Mil. Therefore, National Refinery's EV-to-EBITDA ratio for today is 2.82.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, National Refinery's Enterprise Value is ₨82,492 Mil.
National Refinery's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 was ₨373,349 Mil. Therefore, National Refinery's EV-to-Revenue ratio for today is 0.22.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
National Refinery (KAR:NRL) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
National Refinery's current Enterprise Value is ₨82,492 Mil.
National Refinery's EBIT 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 ₨27,098 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
National Refinery's current Enterprise Value is ₨82,492 Mil.
National Refinery'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 ₨29,292 Mil.
National Refinery's current Enterprise Value is ₨82,492 Mil.
National Refinery's Revenue 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 ₨373,349 Mil.
National Refinery's current Enterprise Value is ₨82,492 Mil.
National Refinery's Cash Flow from Operations 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 ₨5,885 Mil.
National Refinery's current Enterprise Value is ₨82,492 Mil.
National Refinery's Free Cash Flow 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 ₨4,837 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.
National Refinery Enterprise Value Related Terms
National Refinery Enterprise Value Historical Data
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The historical data trend for National Refinery's Enterprise Value 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.
KAR:NRL vs VLO, MPC, PSX: Enterprise Value Comparison
For the Oil & Gas Refining & Marketing subindustry, National Refinery's Enterprise Value, along with its competitors' market caps and Enterprise Value 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.
National Refinery Enterprise Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Refinery's Enterprise Value distribution charts can be found below:
* The bar in red indicates where National Refinery's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
National Refinery's Enterprise Value for the fiscal year that ended in Jun. 2025 is calculated as
* 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.
National Refinery (KAR:NRL) has a Enterprise Value of ₨82,492 Mil as of Jul. 02, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on National Refinery and its competitors.
Is National Refinery's Enterprise Value too high?
National Refinery's current Enterprise Value is ₨82,492 Mil. Overall, National Refinery has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Refinery's Enterprise Value compare to VLO and MPC?
National Refinery's Enterprise Value of ₨82,492 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Oil & Gas company?
A good Enterprise Value depends on the Oil & Gas industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on National Refinery and its competitors. National Refinery's current Enterprise Value is ₨82,492 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Refinery stock overvalued right now?
Based on GuruFocus' analysis, National Refinery (KAR:NRL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨331.04, compared to a current price of ₨366.62 — trading 10.7% above its estimated fair value. The current Enterprise Value is ₨82,492 Mil. National Refinery's overall GF Score™ is 68/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For National Refinery (KAR:NRL), the current Enterprise Value is ₨82,492 Mil as of Jul. 02, 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 National Refinery (KAR:NRL) Overvalued in 2026?
Based on GuruFocus' analysis, National Refinery stock appears to be overvalued.
The current stock price of ₨366.62 is trading 10.7% above its estimated GF Value™ of ₨331.04.
GuruFocus considers National Refinery to be Modestly Overvalued.
Key valuation signals for KAR:NRL:
Enterprise Value: ₨82,492 Mil
GF Value™: ₨331.04 vs. price of ₨366.62 (10.7% above fair value)
No single metric tells the full story. See the KAR:NRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Refinery Ltd is a Pakistan-based company engaged in manufacturing and supplying fuel products, lubes, BTX, asphalts and specialty products for domestic consumption and export. It is also involved in the crude oil refining business. The company operates through two segments namely Fuel and Lube. The Fuel segment, which is the key revenue driver, is engaged in the production of high-speed diesel, naphtha, motor gasoline, liquefied petroleum gas, jet fuels, and furnace oil. The Lube segment produces multiple grades of lube base oils, bitumen, waxes and rubber process oil and some quantities of other fuel products. It derives maximum revenue from Fuel Segment.
68GF Score
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