InterGlobe Aviation Limited

NSEI:INDIGO Stock Report

Market Cap: ₹1.6t

InterGlobe Aviation Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: INDIGO (₹4142.65) is trading below our estimate of fair value (₹4907.17)

Significantly Below Fair Value: INDIGO is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As INDIGO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for INDIGO. This is calculated by dividing INDIGO's market cap by their current earnings.
What is INDIGO's PE Ratio?
PE Ratio24.1x
Earnings₹66.35b
Market Cap₹1.60t

Price to Earnings Ratio vs Peers

How does INDIGO's PE Ratio compare to its peers?

The above table shows the PE ratio for INDIGO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.3x
ADANIPORTS Adani Ports and Special Economic Zone
25x15.6%₹2.5t
JSWINFRA JSW Infrastructure
50.2x14.2%₹624.6b
IAG International Consolidated Airlines Group
5.1x2.6%UK£12.0b
RYA Ryanair Holdings
12.9x11.0%€19.8b
INDIGO InterGlobe Aviation
24.1x17.8%₹1.6t

Price-To-Earnings vs Peers: INDIGO is expensive based on its Price-To-Earnings Ratio (24.1x) compared to the peer average (23.3x).

Price to Earnings Ratio vs Industry

How does INDIGO's PE Ratio compare vs other companies in the Asian Airlines Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
INDIGO 24.1xIndustry Avg. 10.9xNo. of Companies6PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INDIGO is expensive based on its Price-To-Earnings Ratio (24.1x) compared to the Asian Airlines industry average (10.9x).

Price to Earnings Ratio vs Fair Ratio

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

INDIGO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.1x
Fair PE Ratio48.9x

Price-To-Earnings vs Fair Ratio: INDIGO is good value based on its Price-To-Earnings Ratio (24.1x) compared to the estimated Fair Price-To-Earnings Ratio (48.9x).

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 INDIGO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹4,142.65
₹4,907.50
+18.5%
7.9%₹5,500.00₹4,050.00n/a20
Nov ’25₹4,069.55
₹4,927.52
+21.1%
7.7%₹5,500.00₹4,050.00n/a21
Oct ’25₹4,905.25
₹5,082.43
+3.6%
6.0%₹5,500.00₹4,050.00n/a21
Sep ’25₹4,830.00
₹5,032.43
+4.2%
6.7%₹5,500.00₹4,050.00n/a21
Aug ’25₹4,404.30
₹4,971.95
+12.9%
7.3%₹5,500.00₹4,050.00n/a21
Jul ’25₹4,222.15
₹4,801.14
+13.7%
10.1%₹5,700.00₹3,700.00n/a21
Jun ’25₹4,189.05
₹4,592.62
+9.6%
12.0%₹5,500.00₹3,600.00n/a21
May ’25₹3,982.30
₹3,899.71
-2.1%
10.6%₹4,615.00₹2,900.00n/a21
Apr ’25₹3,548.95
₹3,710.57
+4.6%
8.1%₹4,300.00₹2,900.00n/a21
Mar ’25₹3,157.35
₹3,559.00
+12.7%
10.1%₹4,145.00₹2,500.00n/a21
Feb ’25₹3,066.60
₹3,162.90
+3.1%
12.8%₹4,000.00₹2,165.00n/a21
Jan ’25₹2,978.50
₹3,015.05
+1.2%
11.9%₹4,000.00₹2,165.00n/a21
Dec ’24₹2,744.95
₹2,986.95
+8.8%
12.1%₹4,000.00₹2,165.00n/a21
Nov ’24₹2,418.80
₹2,984.43
+23.4%
13.6%₹4,000.00₹2,070.00₹4,069.5521
Oct ’24₹2,381.20
₹2,990.55
+25.6%
13.1%₹4,000.00₹2,070.00₹4,905.2522
Sep ’24₹2,438.90
₹3,002.70
+23.1%
13.1%₹4,000.00₹2,070.00₹4,830.0023
Aug ’24₹2,570.75
₹2,807.58
+9.2%
12.1%₹3,321.00₹1,950.00₹4,404.3024
Jul ’24₹2,626.90
₹2,688.00
+2.3%
14.0%₹3,321.00₹1,756.00₹4,222.1524
Jun ’24₹2,343.80
₹2,621.13
+11.8%
12.7%₹3,200.00₹1,756.00₹4,189.0524
May ’24₹2,020.95
₹2,441.25
+20.8%
13.0%₹3,200.00₹1,615.00₹3,982.3024
Apr ’24₹1,910.65
₹2,440.63
+27.7%
13.2%₹3,200.00₹1,615.00₹3,548.9524
Mar ’24₹1,843.70
₹2,457.76
+33.3%
12.7%₹3,200.00₹1,756.00₹3,157.3521
Feb ’24₹2,084.90
₹2,251.23
+8.0%
14.6%₹2,747.00₹1,354.00₹3,066.6022
Jan ’24₹2,007.70
₹2,217.55
+10.5%
14.8%₹2,749.00₹1,354.00₹2,978.5022
Dec ’23₹1,944.15
₹2,176.09
+11.9%
15.3%₹2,749.00₹1,354.00₹2,744.9522
Nov ’23₹1,820.70
₹2,196.50
+20.6%
17.4%₹2,749.00₹1,354.00₹2,418.8022

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

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