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State Bank of India

NSEI:SBIN
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SBIN
NSEI
₹3,013B
Market Cap
  1. Home
  2. IN
  3. Banks
Company description

State Bank of India provides various banking products and services to individuals, commercial enterprises, corporates, public bodies, and institutional customers in India and internationally. The last earnings update was 12 days ago. More info.


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SBIN Share Price and Events
7 Day Returns
9.3%
NSEI:SBIN
4.9%
IN Banks
3.5%
IN Market
1 Year Returns
29.6%
NSEI:SBIN
12.9%
IN Banks
-0.9%
IN Market
SBIN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
State Bank of India (SBIN) 9.3% 10% 27.3% 29.6% 94.8% 30.7%
IN Banks 4.9% -0.2% 12.7% 12.9% 55.7% 21.9%
IN Market 3.5% -2.6% 7.2% -0.9% 37.9% 44%
1 Year Return vs Industry and Market
  • SBIN outperformed the Banks industry which returned 12.9% over the past year.
  • SBIN outperformed the Market in India which returned -0.9% over the past year.
Price Volatility
SBIN
Industry
5yr Volatility vs Market

SBIN Value

 Is State Bank of India undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of State Bank of India to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for State Bank of India.

NSEI:SBIN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 29 analysts.
= Stable Book Value * Return on Equity
= ₹288.48 * 13.6%
₹39.31
Book Value of Equity per Share Weighted future Book Value estimates from 26 analysts. ₹288.48
Discount Rate (Cost of Equity) See below 16.8%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:SBIN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 35%) (137.34%))
1.073
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.073 * 8.6%)
16.78%

Discounted Cash Flow Calculation for NSEI:SBIN using Excess Returns Model Model

The calculations below outline how an intrinsic value for State Bank of India is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NSEI:SBIN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.6% – 16.78%) * ₹288.48)
₹-9.09
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹-9.09 / (16.78% - 7.55%)
₹-98.52
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹288.48 + ₹-98.52
₹189.96
NSEI:SBIN Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹189.96
Current discount Discount to share price of ₹341.10
= -1 x (₹341.10 - ₹189.96) / ₹189.96
-79.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of State Bank of India is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for State Bank of India's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are State Bank of India's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:SBIN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹2.58
NSEI:SBIN Share Price ** NSEI (2019-05-22) in INR ₹341.1
India Banks Industry PE Ratio Median Figure of 21 Publicly-Listed Banks Companies 29.73x
India Market PE Ratio Median Figure of 2,756 Publicly-Listed Companies 15.41x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of State Bank of India.

NSEI:SBIN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:SBIN Share Price ÷ EPS (both in INR)

= 341.1 ÷ 2.58

132.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • State Bank of India is overvalued based on earnings compared to the IN Banks industry average.
  • State Bank of India is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does State Bank of India's expected growth come at a high price?
Raw Data
NSEI:SBIN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 132.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts
41.4%per year
India Banks Industry PEG Ratio Median Figure of 19 Publicly-Listed Banks Companies 1.14x
India Market PEG Ratio Median Figure of 559 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

NSEI:SBIN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 132.21x ÷ 41.4%

3.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • State Bank of India is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on State Bank of India's assets?
Raw Data
NSEI:SBIN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹265.66
NSEI:SBIN Share Price * NSEI (2019-05-22) in INR ₹341.1
India Banks Industry PB Ratio Median Figure of 40 Publicly-Listed Banks Companies 0.59x
India Market PB Ratio Median Figure of 3,637 Publicly-Listed Companies 1.03x
NSEI:SBIN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:SBIN Share Price ÷ Book Value per Share (both in INR)

= 341.1 ÷ 265.66

1.28x

* Primary Listing of State Bank of India.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • State Bank of India is overvalued based on assets compared to the IN Banks industry average.
X
Value checks
We assess State Bank of India's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. State Bank of India has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SBIN Future Performance

 How is State Bank of India expected to perform in the next 1 to 3 years based on estimates from 29 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is State Bank of India expected to grow at an attractive rate?
  • State Bank of India's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • State Bank of India's earnings growth is expected to exceed the India market average.
  • State Bank of India's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:SBIN Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:SBIN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts 41.4%
NSEI:SBIN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 29 Analysts 12.7%
India Banks Industry Earnings Growth Rate Market Cap Weighted Average 32.2%
India Banks Industry Revenue Growth Rate Market Cap Weighted Average 18.8%
India Market Earnings Growth Rate Market Cap Weighted Average 17.1%
India Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:SBIN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:SBIN Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 2,073,092 516,113 1
2022-03-31 1,828,181 438,473 8
2021-03-31 1,613,018 344,427 26
2020-03-31 1,447,909 279,214 27
NSEI:SBIN Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 1,195,543 22,996
2018-12-31 1,069,300 -64,869
2018-09-30 875,249 -130,826
2018-06-30 779,015 -118,186
2018-03-31 839,095 -2,178,998 -45,563
2017-12-31 839,080 80
2017-09-30 905,880 40,468
2017-06-30 925,472 22,271
2017-03-31 882,347 -2,685,471 2,412
2016-12-31 889,439 44,788
2016-09-30 846,009 35,860
2016-06-30 889,133 85,570

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • State Bank of India's earnings are expected to grow significantly at over 20% yearly.
  • State Bank of India's revenue is expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:SBIN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below

All data from State Bank of India Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SBIN Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 57.80 57.80 57.80 1.00
2022-03-31 48.63 59.00 41.72 9.00
2021-03-31 38.34 52.00 27.90 29.00
2020-03-31 31.05 43.60 20.00 29.00
NSEI:SBIN Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 2.58
2018-12-31 -7.32
2018-09-30 -14.92
2018-06-30 -13.56
2018-03-31 -5.34
2017-12-31 0.01
2017-09-30 4.98
2017-06-30 2.81
2017-03-31 0.31
2016-12-31 5.79
2016-09-30 4.62
2016-06-30 11.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • State Bank of India is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess State Bank of India's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
State Bank of India has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SBIN Past Performance

  How has State Bank of India performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare State Bank of India's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • State Bank of India's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • State Bank of India has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • State Bank of India has become profitable in the last year making it difficult to compare the IN Banks industry average.
Earnings and Revenue History
State Bank of India's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from State Bank of India Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SBIN Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,195,543.10 22,996.40 437,950.10
2018-12-31 1,069,299.99 -64,868.60 590,863.56
2018-09-30 875,249.49 -130,825.80 563,416.86
2018-06-30 779,014.99 -118,186.10 542,211.06
2018-03-31 839,094.59 -45,562.90 520,920.86
2017-12-31 839,080.07 80.43 493,030.56
2017-09-30 905,880.47 40,468.43 495,800.96
2017-06-30 925,472.47 22,271.13 501,044.26
2017-03-31 882,347.09 2,412.33 500,832.66
2016-12-31 889,438.69 44,787.65 480,402.86
2016-09-30 846,009.29 35,860.25 466,842.76
2016-06-30 889,133.49 85,570.25 458,221.66
2016-03-31 924,840.03 122,245.95 453,326.96
2015-12-31 981,719.67 156,588.69 438,404.16
2015-09-30 1,013,027.47 182,275.79 435,620.16
2015-06-30 983,056.37 172,597.19 430,377.76
2015-03-31 990,672.67 169,942.99 427,690.16
2014-12-31 945,657.01 162,640.15 407,421.13
2014-09-30 924,515.81 152,744.35 407,262.43
2014-06-30 886,274.91 143,233.65 410,149.53
2014-03-31 846,824.31 141,737.75 408,501.63
2013-12-31 804,097.11 140,277.31 375,722.67
2013-09-30 785,533.71 158,375.51 356,374.77
2013-06-30 806,433.61 173,400.91 353,096.41
2013-03-31 786,656.61 179,162.31 335,469.11
2012-12-31 846,770.88 191,405.70 308,906.58
2012-09-30 808,552.84 188,102.10 296,238.76
2012-06-30 754,233.08 177,053.30 300,971.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • State Bank of India has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • State Bank of India used its assets less efficiently than the IN Banks industry average last year based on Return on Assets.
  • Unable to establish if State Bank of India improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess State Bank of India's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
State Bank of India has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SBIN Health

 How is State Bank of India's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of State Bank of India's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from State Bank of India Company Filings, last reported 1 month ago.

NSEI:SBIN Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,405,326.50 4,137,476.60 1,773,627.40
2018-12-31 2,378,805.50 3,820,480.00 1,459,832.50
2018-09-30 2,348,324.10 3,398,149.40 1,302,214.60
2018-06-30 2,316,476.40 2,711,446.30 1,287,704.10
2018-03-31 2,349,371.91 3,690,793.39 603,156.79
2017-12-31 2,326,163.10 2,702,119.40 1,290,234.60
2017-09-30 2,464,957.50 2,549,058.60 1,296,390.00
2017-06-30 2,431,696.20 2,426,878.50 1,375,981.60
2017-03-31 2,236,727.95 3,363,656.65 1,271,208.03
2016-12-31 2,250,668.50 2,876,057.60 1,346,205.50
2016-09-30 2,221,853.20 2,633,851.10 1,124,923.40
2016-06-30 2,202,290.40 2,477,459.90 1,054,214.70
2016-03-31 1,868,597.71 3,613,993.91 619,219.22
2015-12-31 1,880,217.50 2,531,409.30 1,030,944.40
2015-09-30 1,866,788.80 2,554,955.50 1,001,915.90
2015-06-30 1,758,037.50 2,423,931.80 1,004,009.00
2015-03-31 1,668,846.60 2,446,634.67 619,471.37
2014-12-31 1,660,850.70 2,200,618.80 920,569.60
2014-09-30 1,617,717.00 2,251,354.20 931,057.40
2014-06-30 1,571,376.20 2,257,746.40 951,434.80
2014-03-31 1,522,796.87 2,237,597.10 679,148.86
2013-12-31 1,421,306.80 2,314,124.50 863,872.00
2013-09-30 1,412,279.20 2,272,146.70 817,508.40
2013-06-30 1,362,287.40 2,093,533.70 792,214.90
2013-03-31 1,292,868.83 2,037,369.47 692,230.43
2012-12-31 1,263,204.20 1,785,414.80 725,499.70
2012-09-30 1,204,584.80 1,741,947.00 875,453.20
2012-06-30 1,099,556.82 1,579,992.60 614,736.42
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • State Bank of India has an acceptable proportion of non-loan assets held.
  • State Bank of India's liabilities are made up of primarily low risk sources of funding.
  • Loans at State Bank of India are broadly funded by customer deposits.
  • State Bank of India's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if State Bank of India has a sufficient allowance for bad loans without relevant financial data.
  • State Bank of India has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess State Bank of India's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. State Bank of India has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SBIN Dividends

 What is State Bank of India's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from State Bank of India dividends. Estimated to be 1.54% next year.
If you bought ₹2,000 of State Bank of India shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate State Bank of India's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate State Bank of India's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:SBIN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
India Banks Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 0.4%
India Market Average Dividend Yield Market Cap Weighted Average of 1407 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:SBIN Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 4.50 1.00
2022-03-31 7.61 7.00
2021-03-31 5.44 23.00
2020-03-31 4.32 22.00
NSEI:SBIN Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-10 0.000 0.000
2019-02-01 0.000 0.000
2018-11-05 0.000 0.000
2018-08-10 0.000 0.000
2018-06-05 0.000 0.000
2018-05-22 0.000 0.000
2017-05-19 2.600 0.927
2016-05-27 2.600 1.027
2015-05-22 3.500 1.605
2014-05-23 3.000 1.092
2014-02-14 3.000 1.619
2013-05-23 4.150 2.396
2012-08-10 3.500 1.595
2012-08-08 3.500 1.777
2012-07-25 3.500 1.730
2012-05-18 3.500 1.647
2012-04-25 3.500 1.773
2011-05-17 3.000 1.472
2011-01-31 0.000 0.000
2010-06-17 3.000 1.079
2010-01-25 2.000 0.945

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as State Bank of India has not reported any payouts.
  • Unable to verify if State Bank of India's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of State Bank of India's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as State Bank of India has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.3x coverage).
X
Income/ dividend checks
We assess State Bank of India's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can State Bank of India afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. State Bank of India has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SBIN Management

 What is the CEO of State Bank of India's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • State Bank of India has no CEO, or we have no data on them.
Management Team Tenure

Average tenure and age of the State Bank of India management team in years:

2.8
Average Tenure
58
Average Age
  • The tenure for the State Bank of India management team is about average.
Management Team

Parveen Gupta

TITLE
MD of Retail & Digital Banking and Director
COMPENSATION
₹3M
AGE
58
TENURE
3.5 yrs

Dinesh Khara

TITLE
MD of Risk
COMPENSATION
₹3M
AGE
57

Prashant Kumar

TITLE
Deputy MD & CFO
TENURE
0.7 yrs

Neeraj Vyas

TITLE
Deputy MD & COO
AGE
59

Mahindra Kumar

TITLE
Deputy GM

Sanjay Abhyankar

TITLE
VP of Compliance
TENURE
2.8 yrs

S. M. Shahab

TITLE
Ex-Officio Chief General Manager of Bengaluru

Arijit Basu

TITLE
Managing Director of Corporate Clients Group & IT and Director
AGE
58
TENURE
0.9 yrs

Siddhartha Sengupta

TITLE
Deputy Managing Director of International Banking Group
TENURE
5 yrs

Anshula Kant

TITLE
MD of Stressed Assets
Board of Directors Tenure

Average tenure and age of the State Bank of India board of directors in years:

3
Average Tenure
60
Average Age
  • The tenure for the State Bank of India board of directors is about average.
Board of Directors

Rajnish Kumar

TITLE
Chairman of the Board
COMPENSATION
₹3M
AGE
60
TENURE
1.6 yrs

Parveen Gupta

TITLE
MD of Retail & Digital Banking and Director
COMPENSATION
₹3M
AGE
58
TENURE
3.5 yrs

Dinesh Khara

TITLE
MD of Risk
COMPENSATION
₹3M
AGE
57
TENURE
2.8 yrs

Arijit Basu

TITLE
Managing Director of Corporate Clients Group & IT and Director
AGE
58

Anshula Kant

TITLE
MD of Stressed Assets

Sanjiv Malhotra

TITLE
Independent Director
COMPENSATION
₹790K
AGE
67
TENURE
4.9 yrs

Girish Ahuja

TITLE
Director
COMPENSATION
₹360K
AGE
72
TENURE
3.3 yrs

Pushpendra Rai

TITLE
Director
COMPENSATION
₹790K
AGE
65
TENURE
3.3 yrs

Bhaskar Pramanik

TITLE
Director
AGE
67
TENURE
1.9 yrs

Rajiv Kumar

TITLE
Director
COMPENSATION
₹15K
AGE
58
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
22. Feb 19 Sell India Company 18. Feb 19 18. Feb 19 -50,431,982 ₹259.75 ₹-13,099,705,805
21. Dec 18 Buy Sanjiv Malhotra Individual 17. Dec 18 20. Dec 18 9,600 ₹291.04 ₹2,794,000
X
Management checks
We assess State Bank of India's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. State Bank of India has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SBIN News

Simply Wall St News

If You Had Bought State Bank of India (NSE:SBIN) Shares Three Years Ago You'd Have Made 69%

For example, State Bank of India (NSE:SBIN) shareholders have seen the share price rise 69% over three years, well in excess of the market return (41%, not including dividends). … Over the last three years, State Bank of India failed to grow earnings per share, which fell 122% (annualized). … The only thing that's clear is there is low correlation between State Bank of India's share price and its historic fundamental data!

Simply Wall St -

What Kind Of Investor Owns Most Of State Bank of India (NSE:SBIN)?

A look at the shareholders of State Bank of India (NSE:SBIN) can tell us which group is most powerful. … State Bank of India is a pretty big company. … See our latest analysis for State Bank of India

Simply Wall St -

What You Should Know About State Bank of India’s (NSE:SBIN) Liquidity

As a large-cap stock with market capitalization of ₹2.3t, State Bank of India (NSE:SBIN) falls into the category of a major bank. … As these large financial institutions revert back to health after the 2008 Financial Crisis, we are seeing an increase in market confidence in these “too-big-to-fail” banking stocks. … Following the crisis, a set of reforms termed Basel III was enforced to bolster risk management, regulation, and supervision in the financial services industry.

Simply Wall St -

Financial Metrics For State Bank of India (NSE:SBIN)

State Bank of India (NSE:SBIN) is a large-cap stock operating in the financial services sector with a market cap of ₹2.4t. … As major financial institutions return to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … The recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry.

Simply Wall St -

State Bank of India (NSE:SBIN): What Does It Mean For Your Portfolio?

Broadly speaking, there are two types of risk you should consider when investing in stocks such as SBIN. … The first type is company-specific risk, which can be diversified away by investing in other companies to reduce exposure to one particular stock. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market.

Simply Wall St -

Three Understated Metrics For State Bank of India (NSE:SBIN) You Should Know

As a large-cap stock with market capitalization of ₹2.57t, State Bank of India (NSE:SBIN) is classified as a major bank. … The recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … As a large bank in INR, SBIN is exposed to strict regulation which has focused investor attention on the type and level of risks it is subjected to, and higher scrutiny on its risk-taking behaviour.

Simply Wall St -

Should You Have State Bank of India's (NSE:SBIN) In Your Portfolio?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … State Bank of India has a beta of 1.04, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … A high level of beta means investors face higher risk associated with potential gains and losses driven by market movements.

Simply Wall St -

Is It The Right Time To Buy State Bank of India (NSE:SBIN)?

I find that State Bank of India’s ratio of 1x is trading slightly above its industry peers’ ratio of 0.69x, which means if you buy State Bank of India today, you’d be paying a relatively fair price for it. … And if you believe State Bank of India should be trading in this range, then there isn’t really any room for the share price grow beyond what it’s currently trading. … SBIN’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Three Understated Metrics For State Bank of India (NSE:SBIN) You Should Know

State Bank of India’s leverage level of 15x is significantly below the appropriate ceiling of 20x. … Since State Bank of India’s loan to deposit ratio of 69.54%is well-below than the appropriate maximum of 90%, this means the bank is lending out less than its total level of deposits and places the bank in a relatively safe liquidity position given it has not excessively lent out its deposits and has maintained a suitable level for compliance. … Given the large headroom for growth in loans, the bank has opportunity to grow its interest income.Next Steps: State Bank of India passes all of our liquidity and leverage checks which shows it is prudent in managing those factors.

Simply Wall St -

How Did State Bank of India's (NSE:SBIN) 0.11% ROE Fare Against The Industry?

See our latest analysis for State Bank of India Breaking down ROE — the mother of all ratios Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … State Bank of India’s cost of equity is 14.01%. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NSEI:SBIN Last Perf Apr 14th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

SBIN Company Info

Description

State Bank of India provides various banking products and services to individuals, commercial enterprises, corporates, public bodies, and institutional customers in India and internationally. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, Insurance Business, and Other Banking Business segments. It offers personal banking services, including current accounts, savings accounts, term deposits, and recurring deposits; home, auto, education, and personal loans, as well as loans against property and securities; and wealth management, mobile and Internet banking, demat, ATM, foreign inward remittance, safe deposit locker, public provident fund, money transfer, pension policy, and mobile wallet services, as well as cards and inflation indexed national savings securities cumulative bonds. The company also offers corporate banking services comprising corporate accounts, working capital and project finance, term loans, deferred payment guarantees, corporate loans, structured finance, dealer and channel financing, equipment leasing, loan syndication, construction equipment loans, financing Indian firms overseas subsidiaries or JVs, and cash management products, as well as export and cash and letters of credit products. In addition, it offers NRI services, including accounts and deposits, remittances, investments, and loans; agricultural banking and micro credit to agriculturists and farmers; loans, supply chain finance, and deposits and transaction banking services for SME customers; and international banking services. Further, the company provides treasury, broking, bill payment, and MICR services; and credit cards, insurance, mutual funds, merchant banking, trustee business, factoring, security trading, pension fund management, and custodial services, as well as primary dealership services in the money market. It operates 22,414 branches and 59,541 ATMs. The company was founded in 1806 and is headquartered in Mumbai, India.

Details
Name: State Bank of India
SBIN
Exchange: NSEI
Founded: 1806
₹3,012,502,623,301
8,924,611,534
Website: http://www.sbi.co.in
Address: State Bank of India
State Bank Bhavan,
Corporate Centre,
Mumbai,
Maharashtra, 400021,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI SBIN Equity Shares National Stock Exchange of India IN INR 01. Mar 1995
BSE 500112 Equity Shares Mumbai Stock Exchange IN INR 01. Mar 1995
LSE SBID GDR-EACH REPR 10 EQT SHS INR1(REG'S) London Stock Exchange GB USD 04. Oct 1996
OTCPK SBKF.F GDR-EACH REPR 10 EQT SHS INR1(REG'S) Pink Sheets LLC US USD 04. Oct 1996
DB SID GDR-EACH REPR 10 EQT SHS INR1(REG'S) Deutsche Boerse AG DE EUR 04. Oct 1996
Number of employees
Current staff
Staff numbers
264,041
State Bank of India employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 12:48
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.