Zomato Limited

NSEI:ZOMATO Stock Report

Market Cap: ₹2.3t

Zomato Valuation

Is ZOMATO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ZOMATO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ZOMATO (₹264.2) is trading above our estimate of fair value (₹97.1)

Significantly Below Fair Value: ZOMATO is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ZOMATO?

Key metric: As ZOMATO is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ZOMATO. This is calculated by dividing ZOMATO's market cap by their current revenue.
What is ZOMATO's PS Ratio?
PS Ratio14.5x
Sales₹158.55b
Market Cap₹2.30t

Price to Sales Ratio vs Peers

How does ZOMATO's PS Ratio compare to its peers?

The above table shows the PS ratio for ZOMATO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.8x
SWIGGY Swiggy
7.7x24.3%₹932.5b
JUBLFOOD Jubilant FoodWorks
6.1x14.2%₹419.3b
DEVYANI Devyani International
4.7x14.9%₹202.4b
505533 Westlife Foodworld
4.6x13.4%₹110.2b
ZOMATO Zomato
14.5x25.8%₹2.3t

Price-To-Sales vs Peers: ZOMATO is expensive based on its Price-To-Sales Ratio (14.5x) compared to the peer average (5.8x).

Price to Sales Ratio vs Industry

How does ZOMATO's PS Ratio compare vs other companies in the IN Hospitality Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
COFFEEDAY Coffee Day Enterprises
0.6xn/aUS$77.10m
APOLSINHOT Apollo Sindoori Hotels
0.8xn/aUS$53.21m
509953 Trade Wings
0.3xn/aUS$1.81m
543541 Sailani Tours N Travels
0.6xn/aUS$1.03m
ZOMATO 14.5xIndustry Avg. 4.7xNo. of Companies18PS03.67.210.814.418+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ZOMATO is expensive based on its Price-To-Sales Ratio (14.5x) compared to the Indian Hospitality industry average (4.7x).

Price to Sales Ratio vs Fair Ratio

What is ZOMATO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ZOMATO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio14.5x
Fair PS Ratio21.1x

Price-To-Sales vs Fair Ratio: ZOMATO is good value based on its Price-To-Sales Ratio (14.5x) compared to the estimated Fair Price-To-Sales Ratio (21.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ZOMATO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹264.20
₹300.08
+13.6%
18.6%₹370.00₹130.00n/a26
Nov ’25₹248.99
₹295.77
+18.8%
19.8%₹370.00₹100.00n/a26
Oct ’25₹274.15
₹278.65
+1.6%
22.2%₹353.00₹100.00n/a26
Sep ’25₹250.53
₹264.96
+5.8%
21.8%₹350.00₹100.00n/a26
Aug ’25₹234.09
₹231.73
-1.0%
22.4%₹300.00₹100.00n/a26
Jul ’25₹203.97
₹217.12
+6.4%
20.1%₹300.00₹100.00n/a26
Jun ’25₹179.15
₹216.96
+21.1%
20.3%₹300.00₹96.00n/a26
May ’25₹193.15
₹184.32
-4.6%
28.8%₹300.00₹77.00n/a25
Apr ’25₹184.50
₹172.00
-6.8%
26.1%₹300.00₹77.00n/a25
Mar ’25₹166.50
₹163.04
-2.1%
22.2%₹227.00₹77.00n/a26
Feb ’25₹140.55
₹135.63
-3.5%
23.3%₹190.00₹75.00n/a27
Jan ’25₹124.50
₹129.70
+4.2%
21.1%₹168.00₹75.00n/a27
Dec ’24₹116.30
₹129.70
+11.5%
21.1%₹168.00₹75.00n/a27
Nov ’24₹103.70
₹110.19
+6.3%
19.8%₹160.00₹60.00₹248.9927
Oct ’24₹101.50
₹105.73
+4.2%
17.7%₹135.00₹60.00₹274.1526
Sep ’24₹97.20
₹102.35
+5.3%
17.2%₹130.00₹60.00₹250.5326
Aug ’24₹84.75
₹80.69
-4.8%
17.3%₹105.00₹45.00₹234.0926
Jul ’24₹75.05
₹79.15
+5.5%
17.6%₹105.00₹45.00₹203.9726
Jun ’24₹67.95
₹78.65
+15.8%
17.3%₹105.00₹45.00₹179.1526
May ’24₹64.90
₹75.15
+15.8%
18.7%₹100.00₹45.00₹193.1526
Apr ’24₹51.00
₹77.20
+51.4%
22.0%₹126.00₹45.00₹184.5025
Mar ’24₹54.95
₹77.20
+40.5%
22.0%₹126.00₹45.00₹166.5025
Feb ’24₹48.15
₹82.71
+71.8%
23.4%₹126.00₹50.00₹140.5524
Jan ’24₹59.30
₹86.13
+45.2%
21.0%₹125.00₹50.00₹124.5023
Dec ’23₹66.65
₹86.78
+30.2%
21.1%₹125.00₹50.00₹116.3023
Nov ’23₹63.50
₹85.26
+34.3%
27.1%₹145.00₹48.00₹103.7023

Analyst Forecast: Target price is less than 20% higher than the current share price.

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