BHARTI AIRTEL LIMITED DCF Valuation
BHARTIARTL · Telecommunication · Current price ₹1,905
BHARTI AIRTEL LIMITED cash-flow valuation
Our engine did not use a discounted-cash-flow model for BHARTI AIRTEL LIMITED. It routes each business to the methods that suit it, and a DCF is a poor lens where cash-flow forecasts are fragile or the business is capital-structure driven. The methods it did use, and why, are set out below. Our published estimate is ₹1,954.
Try your own assumptions
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How we got this fair value
Every number below is part of the same estimate for BHARTI AIRTEL LIMITED. Nothing here is a target price or a forecast of where the share price will go.
Workable, with real gaps. Weigh it alongside your own view rather than on its own.
Estimate range ₹1,759 – ₹2,150
Why this method for this business
Telecom is a capital-intensive sector with significant debt, making EV/EBITDA more appropriate than DCF. Relative P/E provides a market-based anchor given the sector's competitive dynamics.
The models behind the number
Each method is weighted by how well its inputs held up for this company.
required inputs missing
- dcf: Rejected due to data quality issues and the model producing an implausibly low value (<0.2× price), likely due to debt complexities in telecom.
What was missing
- Detailed breakdown of Africa segment performance
- Clearer capex plans for 5G rollout
- Spectrum payment schedule impact on cash flows
What drives it
16 inputs, grouped by how strong each claim is
- Sector-median P/E
- 16.42×
- Peers used
- 17
- EPS (TTM)
- 48.65 ₹/share
- Own-history median P/E
- 50.03×
peer-median
peer-median
computed
reconstructed (one feature, dampened — not a cap)
- Anchor correction
- peer anchor 16.4x diverges 3.0x from 5yr own-history 50.0x (no size-comparable peer) — anchor blended 0.6 toward own-history → 36.6x
- Term: quality
- -6.3%
- Term: growth
- -5.7%
- Term: capital_allocation
- +9.6%
- Term: financial_strength
- +1.0%
- Term: history
- +11.0%
- Term: sector_rerating
- +0.0%
- Term: rate_regime
- +1.2%
- Term: risk
- +0.0%
peer-anchor mismatch — deep own-history used instead
quality 42/100 (weak/erratic returns) → discount
weak ~-1% CAGR (ROCE 11% < 12% hurdle (growth not value-accretive)) → discount
capital allocation: rising ROCE funded by strong FCF → premium
financial strength: moderate leverage (D/E 0.9) → neutral
history: market paid +37% vs sector, dampened ×0.3 (one feature, not the anchor)
sector re-rating: no sector-norm history → not used
rates: risk-free 6.9% below ~7.1% normal → higher multiple
risk: no analyst-dispersion signal available → neutral (lowers confidence, not PE)
- Premium vs sector
- +9.8%
- Fair-multiple confidence
- 75%
- Fair P/E
- 40.17×
fundamentals + macro (not capped at own history)
data completeness + term agreement
sector median × ∏(1+term) — Dynamic Fair Multiple
Who computed this
A language model (glm-4.5-air) selects the valuation method and the judgement inputs for BHARTI AIRTEL LIMITED: which models suit the business, the moat, the growth and margin assumptions. It does not produce the number. The fair value itself is computed in Python by a deterministic engine (version 2026.08.1) from those inputs, so the same inputs always give the same result and every figure above can be traced to a source.
Estimated 14 Sept 2026. Re-run as new financials and news arrive.
How we value stocks
We estimate what a business is worth from its own economics: cash flows, returns on capital, and a multiple justified by its quality, rather than from where the share price has been. A fair value estimate is a view, not a verdict, and it is only as good as the inputs listed above.
Read the full fair-value methodologyMore on BHARTI AIRTEL LIMITED
DocStoX estimates are computed from reported financials, for informational purposes only, not investment advice. Consult a SEBI-registered advisor before investing.