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, Indian Oil's Enterprise Value is ₹3,181,817 Mil.
Indian Oil's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was ₹657,800 Mil. Therefore, Indian Oil's EV-to-EBIT ratio for today is 4.84.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Indian Oil's Enterprise Value is ₹3,181,817 Mil.
Indian Oil's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was ₹657,800 Mil. Therefore, Indian Oil's EV-to-EBITDA ratio for today is 4.84.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Indian Oil's Enterprise Value is ₹3,181,817 Mil.
Indian Oil's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 was ₹7,844,154 Mil. Therefore, Indian Oil's EV-to-Revenue ratio for today is 0.41.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Indian Oil's Enterprise Value is ₹3,181,817 Mil.
Indian Oil's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was ₹0 Mil. Therefore, Indian Oil's EV-to-FCF ratio for today is .
*** 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.
Indian Oil (NSE:IOC) 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.
Indian Oil's current Enterprise Value is ₹3,181,817 Mil.
Indian Oil'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 ₹657,800 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Indian Oil's current Enterprise Value is ₹3,181,817 Mil.
Indian Oil'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 ₹657,800 Mil.
Indian Oil's current Enterprise Value is ₹3,181,817 Mil.
Indian Oil'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 ₹7,844,154 Mil.
Indian Oil's current Enterprise Value is ₹3,181,817 Mil.
Indian Oil'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 ₹0 Mil.
Indian Oil's current Enterprise Value is ₹3,181,817 Mil.
Indian Oil'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 ₹0 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.
Indian Oil Enterprise Value Related Terms
Indian Oil Enterprise Value Historical Data
* Premium members only.
The historical data trend for Indian Oil'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.
NSE:IOC vs VLO, MPC, PSX: Enterprise Value Comparison
For the Oil & Gas Refining & Marketing subindustry, Indian Oil'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.
Indian Oil Enterprise Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Indian Oil's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Indian Oil'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.
Indian Oil's Enterprise Value for the fiscal year that ended in Mar. 2026 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.
What does a Enterprise Value of ₹3,181,817 Mil mean?
Indian Oil (NSE:IOC) has a Enterprise Value of ₹3,181,817 Mil as of Jun. 30, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Indian Oil and its competitors.
Is Indian Oil's Enterprise Value too high?
Indian Oil's current Enterprise Value is ₹3,181,817 Mil. Overall, Indian Oil has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Indian Oil's Enterprise Value compare to VLO and MPC?
Indian Oil's Enterprise Value of ₹3,181,817 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 Indian Oil and its competitors. Indian Oil's current Enterprise Value is ₹3,181,817 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indian Oil stock overvalued right now?
Based on GuruFocus' analysis, Indian Oil (NSE:IOC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹154.55, compared to a current price of ₹139.18 — trading 9.9% below its estimated fair value. The current Enterprise Value is ₹3,181,817 Mil. Indian Oil's overall GF Score™ is 84/100 with 5 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 Indian Oil (NSE:IOC), the current Enterprise Value is ₹3,181,817 Mil as of Jun. 30, 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 Indian Oil (NSE:IOC) Overvalued in 2026?
Based on GuruFocus' analysis, Indian Oil stock appears to be undervalued.
The current stock price of ₹139.18 is trading 9.9% below its estimated GF Value™ of ₹154.55.
GuruFocus considers Indian Oil to be Modestly Undervalued.
Key valuation signals for NSE:IOC:
Enterprise Value: ₹3,181,817 Mil
GF Value™: ₹154.55 vs. price of ₹139.18 (9.9% below fair value)
No single metric tells the full story. See the NSE:IOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Indian Oil Corp Ltd conducts business across the entire hydrocarbon value chain, from refining, pipeline transportation and marketing, to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources, and globalisation of downstream operations. The group is engaged in the following business segments: Sale of Petroleum Products, Sale of Petrochemicals, Sale of Gas, and the Other operating segment, which includes oil and gas exploration activities, explosives and cryogenic business, and windmill and solar power generation. The majority of its revenue is generated from the sale of petroleum products such as motor spirit, high speed diesel, liquified petroleum gas, aviation turbine fuel, and others. Geographically, it derives key revenue from India.
84GF Score
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