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NTPCNSE:NTPC -0.40%89 Forward PE Ratio is 13.64 as of Jul. 26, 2026. GuruFocus rates NSE:NTPC with a GF Score™ of 89/100 and a GF Value™ of ₹353.42 (Fairly Valued). The stock has 4 warning signs investors should review. Among 275 Utilities - Regulated companies, NTPC ranks better than 55.64% on this metric.
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
NTPC Forward PE Ratio Related Terms
NTPC Forward PE Ratio Historical Data
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The historical data trend for NTPC's Forward PE Ratio 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.
NTPC Forward PE Ratio Chart
NTPC Annual Data
Trend
2018-03
2019-03
2020-03
2021-03
2022-03
2023-03
2025-03
2026-03
Forward PE Ratio
12.61
10.58
5.59
6.75
8.06
9.70
14.85
14.52
NTPC Quarterly Data
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
12.61
10.63
11.11
8.71
10.58
10.85
9.07
7.87
5.59
6.93
6.05
6.48
6.75
7.46
7.99
7.42
8.06
7.94
9.15
9.22
9.70
10.47
13.61
16.21
13.27
14.85
13.96
13.96
12.42
14.52
NSE:NTPC vs NEE, SO, DUK: Forward PE Ratio Comparison
For the Utilities - Regulated Electric subindustry, NTPC's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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.
NTPC Forward PE Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, NTPC's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where NTPC's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
NTPC (NSE:NTPC) has a Forward PE Ratio of 13.64 as of Jul. 26, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on NTPC and its competitors. According to the industry distribution chart, NTPC ranks #122 out of 275 companies in the Utilities - Regulated industry, placing it in the top 44.4%.
Is NTPC's Forward PE Ratio too high?
NTPC's current Forward PE Ratio is 13.64. The Utilities - Regulated industry median Forward PE Ratio is 14.55. NTPC's value of 13.64 is 6.3% below this industry median. Based on the distribution chart, NTPC ranks #122 out of 275 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, NTPC has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NTPC's Forward PE Ratio compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, NTPC ranks #122 out of 275 companies for Forward PE Ratio. This puts NTPC in the upper half of its industry. The industry median Forward PE Ratio is 14.55. NTPC's value of 13.64 is 6.3% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for an Utilities - Regulated company?
The median Forward PE Ratio among Utilities - Regulated companies is 14.55, based on 275 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NTPC's current Forward PE Ratio of 13.64 is 6.3% below 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on NTPC and its competitors. For the Utilities - Regulated industry, the median Forward PE Ratio is 14.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NTPC's current Forward PE Ratio is 13.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NTPC stock overvalued right now?
Based on GuruFocus' analysis, NTPC (NSE:NTPC) is currently considered Fairly Valued. The stock's GF Value™ is ₹353.42, compared to a current price of ₹347.20 — trading 1.8% below its estimated fair value. The current Forward PE Ratio is 13.64 and 6.3% below the Utilities - Regulated industry median of 14.55. NTPC's overall GF Score™ is 89/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For NTPC (NSE:NTPC), the current Forward PE Ratio is 13.64 as of Jul. 26, 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 NTPC (NSE:NTPC) Overvalued in 2026?
Based on GuruFocus' analysis, NTPC stock appears to be undervalued.
The current stock price of ₹347.20 is trading 1.8% below its estimated GF Value™ of ₹353.42.
GuruFocus considers NTPC to be Fairly Valued.
Key valuation signals for NSE:NTPC:
Forward PE Ratio: 13.64
GF Value™: ₹353.42 vs. price of ₹347.20 (1.8% below fair value)
Industry Position: 6.3% below the Utilities - Regulated median (#122 of 275)
No single metric tells the full story. See the NSE:NTPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NTPC Ltd is an Indian state-owned electric utility company. It is the power producer in India and supplies a amount of the nation's total needs. The company generates revenue through the sale of electricity to state-owned Indian power distribution companies from its stations throughout the country. NTPC also brings in a amount of revenue through its consultancy wing, which provides project management and supervision, energy trading, oil and gas exploration and coal mining. While the vast majority of its facilities use coal and gas fuel sources, NTPC has also increased its capacity through renewable energy sources, such as hydroelectric, solar, and thermal power, and plans to continue this trend going forward.
89GF Score
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