SBI Cards & Payment Services Ltd (SBICARD) AI Stock Analysis

• Market Cap: ₹754.94B
• Dividend Yield: 0.31%
• Average Volume (3M): 25.02K
• Price to Earnings (P/E): 40.2
• Beta (1Y): 0.64
• Revenue Growth: 7.08%
• EPS Growth: -22.19%
• Country: IN
• Employees: 3,829
• Sector: Financial
• Sector Strength: 75
• Industry: Financial - Credit Services
• EPS (TTM): 5.84
• Shares Outstanding: 951,527,700
• 10 Day Avg. Volume: 19,252
• 30 Day Avg. Volume: 25,025
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹963.20
• Price Target Upside: 21.48% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 52 Neutral
• Price Target: ₹816.00 ▲(2.91% Upside)

The overall stock score of 52 reflects the company's strong financial performance in terms of revenue growth, countered by high debt levels and cash flow challenges. Technical analysis indicates bearish momentum, while valuation metrics suggest potential overvaluation. Improving cash flow management and addressing market sentiment will be key to enhancing the stock's performance.

SBI Cards & Payment Services Ltd Business Overview & Revenue Model

Company Description

SBI Cards & Payment Services Ltd (SBICARD) is a leading credit card issuer in India, operating as a subsidiary of the State Bank of India (SBI). The company provides a wide range of credit card services to individual and corporate clients, including lifestyle, travel, shopping, and exclusive co-branded credit cards. With a strong market presence, SBICARD offers various products that cater to diverse customer needs, enhancing the overall purchasing power and financial convenience for its users.

How the Company Makes Money

SBICARD primarily generates revenue through interest income on credit card balances, fees and commissions from cardholders and merchants, and annual subscription fees for its credit cards. The company benefits from the interest charged on outstanding credit card balances and late payment fees. Additionally, SBICARD earns interchange fees from merchants for processing card transactions. Collaborations with retail partners for co-branded cards and special offers also contribute to its earnings. Furthermore, SBICARD engages in marketing agreements and partnerships with various businesses, enhancing its product offerings and customer base, which in turn drives revenue growth.

SBI Cards & Payment Services Ltd Financial Statement Overview

Summary

SBI Cards & Payment Services Ltd shows strong revenue growth and profitability on the income statement. However, high debt levels and negative cash flows indicate challenges in financial stability. The company must improve cash flow management and manage debt to sustain long-term growth and financial health.

Income Statement

SBI Cards & Payment Services Ltd has demonstrated robust revenue growth with a significant increase from ₹73,235.75 crore in 2020 to ₹186,371.5 crore in 2025. The gross profit margin is strong at 78.8% for 2025, indicating effective cost management. However, the net profit margin has decreased from previous years, currently at 10.3% for 2025, which suggests increased expenses or operational challenges affecting net income.

Balance Sheet

The company's debt-to-equity ratio suggests a high reliance on debt financing, with the ratio increasing over the years. The equity ratio is at 21% for 2025, indicating moderate financial leverage. Return on equity (ROE) has improved, reaching 13.9% in 2025, reflecting better utilization of shareholders' equity to generate profit.

Cash Flow

The cash flow statements reveal negative free cash flow for several years, with a slight improvement in operating cash flow in recent periods. The operating cash flow to net income ratio is negative, indicating cash flow challenges potentially due to high capital expenditures or financing needs. Despite improvements, cash flow management remains an area requiring attention.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	154.66B	186.37B	110.93B	98.68B	106.86B	92.38B
Gross Profit	135.18B	146.79B	127.51B	98.68B	67.17B	77.28B
EBITDA	57.19B	75.99B	60.62B	48.80B	32.77B	24.48B
Net Income	19.16B	19.16B	24.08B	22.58B	16.16B	9.85B
Balance Sheet
Total Assets	655.46B	655.46B	581.71B	455.46B	346.48B	270.13B
Cash, Cash Equivalents and Short-Term Investments	27.38B	27.38B	27.30B	19.22B	6.80B	6.72B
Total Debt	449.47B	449.47B	403.15B	315.31B	232.85B	180.68B
Total Liabilities	517.64B	517.64B	460.87B	357.15B	268.96B	207.11B
Stockholders Equity	137.82B	137.82B	120.84B	98.30B	77.53B	63.02B
Cash Flow
Free Cash Flow	0.00	-21.96B	-55.26B	-67.64B	-44.91B	6.35B
Operating Cash Flow	0.00	-21.40B	-54.52B	-66.71B	-43.91B	6.92B
Investing Cash Flow	0.00	-24.91B	-14.57B	-9.21B	-5.38B	-9.97B
Financing Cash Flow	0.00	46.87B	84.01B	78.24B	50.45B	4.32B

SBI Cards & Payment Services Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 792.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SBICARD, the sentiment is Negative. The current price of 792.9 is below the 20-day moving average (MA) of 803.71, below the 50-day MA of 857.95, and below the 200-day MA of 831.18, indicating a bearish trend. The MACD of -14.39 indicates Negative momentum. The RSI at 36.18 is Neutral, neither overbought nor oversold. The STOCH value of 15.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SBICARD.

SBI Cards & Payment Services Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.05B	11.73	10.24%	3.73%	9.66%	1.70%
BAJFINANCE	64 Neutral	₹5.53T	31.66		0.60%	24.87%	15.62%
CDSL	63 Neutral	₹315.36B	63.73		0.82%	18.35%	3.14%
SBICARD	52 Neutral	₹754.94B	40.20		0.31%	7.08%	-22.19%
CHOLAHLDNG	47 Neutral	₹330.24B	14.99		0.07%	25.37%	13.05%
LICHSGFIN	46 Neutral	₹306.19B	5.57		1.80%	4.57%	15.87%
M&MFIN	―	₹362.10B	14.51		6.42%	―	―