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Bharat Heavy Electricals Limited (IN:BHEL)
:BHEL
India Market

Bharat Heavy Electricals Limited (BHEL) Ratios

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Bharat Heavy Electricals Limited Ratios

IN:BHEL's free cash flow for Q2 2026 was ₹0.10. For the 2026 fiscal year, IN:BHEL's free cash flow was decreased by ₹ and operating cash flow was ₹0.09. See a summary of the company’s cash flow.
Ratios
TTM
Mar 25Mar 24Mar 23Mar 22
Liquidity Ratios
Current Ratio
1.45 1.51 1.36 1.24 1.30
Quick Ratio
1.06 1.17 1.08 0.95 1.00
Cash Ratio
0.25 0.02 0.07 0.07 0.03
Solvency Ratio
0.02 0.02 0.02 0.03 0.03
Operating Cash Flow Ratio
-0.04 0.08 -0.15 -0.03 0.03
Short-Term Operating Cash Flow Coverage
-0.11 0.25 -0.42 -0.14 0.14
Net Current Asset Value
₹ -11.35B₹ -6.01B₹ -211.60M₹ -34.47B₹ -18.75B
Leverage Ratios
Debt-to-Assets Ratio
0.15 0.13 0.15 0.09 0.09
Debt-to-Equity Ratio
0.46 0.36 0.36 0.22 0.18
Debt-to-Capital Ratio
0.31 0.27 0.27 0.18 0.15
Long-Term Debt-to-Capital Ratio
<0.01 0.00 0.00 0.00 0.00
Financial Leverage Ratio
2.95 2.75 2.41 2.44 2.12
Debt Service Coverage Ratio
0.16 0.16 0.13 0.25 0.23
Interest Coverage Ratio
1.24 1.08 0.25 0.21 1.44
Debt to Market Cap
0.12 0.12 0.10 0.22 0.28
Interest Debt Per Share
34.11 27.98 27.45 16.96 14.70
Net Debt to EBITDA
1.38 4.86 5.84 2.60 3.59
Profitability Margins
Gross Profit Margin
18.32%31.11%26.67%26.36%26.59%
EBIT Margin
6.26%5.46%4.25%5.59%4.10%
EBITDA Margin
7.32%6.46%5.34%6.76%5.66%
Operating Profit Margin
3.21%2.95%0.78%0.44%2.09%
Pretax Profit Margin
3.78%2.73%1.06%3.23%2.33%
Net Profit Margin
2.76%1.95%1.23%2.88%2.21%
Continuous Operations Profit Margin
2.76%1.95%1.23%2.95%2.46%
Net Income Per EBT
73.00%71.61%116.30%89.08%94.81%
EBT Per EBIT
117.88%92.26%134.96%741.56%111.63%
Return on Assets (ROA)
1.13%0.78%0.48%1.07%0.79%
Return on Equity (ROE)
3.32%2.16%1.15%2.61%1.68%
Return on Capital Employed (ROCE)
2.37%2.03%0.53%0.27%1.21%
Return on Invested Capital (ROIC)
1.36%1.19%0.42%0.22%1.06%
Return on Tangible Assets
1.13%0.79%0.48%1.08%0.79%
Earnings Yield
0.89%0.72%0.32%2.61%2.59%
Efficiency Ratios
Receivables Turnover
4.23 1.20 1.12 1.49 1.72
Payables Turnover
2.66 1.98 1.93 1.65 1.91
Inventory Turnover
1.93 1.91 2.33 2.41 2.26
Fixed Asset Turnover
9.54 9.05 8.21 8.04 7.31
Asset Turnover
0.41 0.40 0.39 0.37 0.36
Working Capital Turnover Ratio
4.11 2.30 3.09 3.66 2.78
Cash Conversion Cycle
137.91 310.83 294.00 174.91 182.85
Days of Sales Outstanding
86.28 304.47 326.04 245.22 212.20
Days of Inventory Outstanding
189.09 191.16 156.81 151.28 161.86
Days of Payables Outstanding
137.46 184.79 188.86 221.58 191.20
Operating Cycle
275.38 495.62 482.85 396.50 374.05
Cash Flow Ratios
Operating Cash Flow Per Share
-3.39 6.28 -10.66 -2.13 1.89
Free Cash Flow Per Share
-4.05 5.47 -11.32 -2.67 1.41
CapEx Per Share
0.66 0.81 0.67 0.54 0.49
Free Cash Flow to Operating Cash Flow
1.19 0.87 1.06 1.25 0.74
Dividend Paid and CapEx Coverage Ratio
-2.93 5.94 -9.98 -2.26 3.89
Capital Expenditure Coverage Ratio
-5.14 7.79 -15.97 -3.94 3.90
Operating Cash Flow Coverage Ratio
-0.11 0.24 -0.42 -0.14 0.14
Operating Cash Flow to Sales Ratio
-0.04 0.08 -0.16 -0.03 0.03
Free Cash Flow Yield
-1.55%2.59%-4.46%-3.81%2.85%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
111.84 138.36 313.27 38.27 38.55
Price-to-Sales (P/S) Ratio
3.09 2.70 3.86 1.10 0.85
Price-to-Book (P/B) Ratio
3.73 2.99 3.62 1.00 0.65
Price-to-Free Cash Flow (P/FCF) Ratio
-64.44 38.67 -22.41 -26.23 35.03
Price-to-Operating Cash Flow Ratio
-77.05 33.70 -23.81 -32.89 26.05
Price-to-Earnings Growth (PEG) Ratio
2.47 1.56 -5.50 0.03 -0.38
Price-to-Fair Value
3.73 2.99 3.62 1.00 0.65
Enterprise Value Multiple
43.53 46.69 78.14 18.90 18.67
Enterprise Value
939.46B 824.46B 955.49B 282.85B 212.94B
EV to EBITDA
43.53 46.69 78.14 18.90 18.67
EV to Sales
3.19 3.01 4.17 1.28 1.06
EV to Free Cash Flow
-66.55 43.16 -24.22 -30.42 43.38
EV to Operating Cash Flow
-79.48 37.61 -25.73 -38.14 32.25
Tangible Book Value Per Share
69.59 70.51 69.88 76.83 75.86
Shareholders’ Equity Per Share
70.00 70.85 70.14 70.01 76.07
Tax and Other Ratios
Effective Tax Rate
0.27 0.28 -0.16 0.09 -0.05
Revenue Per Share
84.58 78.39 65.78 63.57 57.84
Net Income Per Share
2.34 1.53 0.81 1.83 1.28
Tax Burden
0.73 0.72 1.16 0.89 0.95
Interest Burden
0.60 0.50 0.25 0.58 0.57
Research & Development to Revenue
0.00 <0.01 <0.01 <0.01 <0.01
SG&A to Revenue
0.00 <0.01 <0.01 <0.01 <0.01
Stock-Based Compensation to Revenue
0.00 0.00 0.00 0.00 0.00
Income Quality
-11.47 4.11 -13.16 -1.55 1.40
Currency in INR