HDFC Bank (HDB) Stock Analysis

November 11, 2026

This is a peer-relative look at HDFC Bank (HDB): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Banks peers, so every number reads in context rather than in isolation.

Company Profile

HDFC Bank (HDB) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for HDFC Bank (HDB)
Profile Item	HDB
Name	HDFC Bank Ltd. ADR
Country/Region	India
GICS Sector	Financials
GICS Industry Group	Banks
GICS Industry	Banks
GICS Sub-Industry	Diversified Banks
Market Capitalization	129.32 billion USD
Currency	USD
Exchange	NYSE
Listing Date	July 20, 2001
Security Type	ADR

Price Performance

Cumulative Growth

HDB

GSPC

HDFC Bank (HDB) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for HDFC Bank (HDB) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for HDFC Bank (HDB) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Total Return (1Y)	-27.88%	30.28%
Total Return (3Y, Annualized)	-1.98%	26.57%
Total Return (5Y, Annualized)	-5.21%	9.43%

Risk Profile

Drawdown History

HDB

GSPC

HDFC Bank (HDB) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for HDFC Bank (HDB) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Volatility (1Y, Annualized)	30.79%	24.34%
Beta (5Y)	0.57	0.72
Max Drawdown (5Y)	-45.21%	-43.36%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. HDB is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Sharpe Ratio (1Y)	-1.04	1.08
Sortino Ratio (1Y)	-1.40	1.61

Profitability

ROE (TTM)

HDFC Bank (HDB) posts ROE of 11.01%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

HDB

Banks industry group

11.01%

Group distribution

Max: 19.84%
Q3: 13.67%
Median: 11.49%
HDB: 11.01%
Q1: 9.50%
Min: 3.64%

Largest peers

JPM: 18.01%
RY: 16.21%
HSBC: 14.22%
WFC: 12.91%
HDB: 11.01%
BAC: 10.73%
MUFG: 9.46%

Where HDFC Bank (HDB) stands on ROE within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

HDFC Bank (HDB) keeps 26.53% of revenue as net profit, in the lower peer quartile for net margin. More of each sales dollar is being absorbed by costs, financing, taxes, or other charges than at most peers.

HDB

Banks industry group

26.53%

Group distribution

Max: 47.19%
Q3: 35.25%
Median: 31.21%
Q1: 27.11%
HDB: 26.53%
Min: 14.93%

Largest peers

HSBC: 41.16%
JPM: 34.59%
RY: 33.87%
BAC: 28.06%
WFC: 27.64%
MUFG: 27.45%
HDB: 26.53%

Where HDFC Bank (HDB) stands on net margin within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

operating margin is set aside for HDFC Bank (HDB) in Banks: the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.

Profitability Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
ROE (TTM)	11.01%	11.49%
ROA (TTM)	1.66%	1.24%
Net Margin (TTM)	26.53%	31.21%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

HDFC Bank (HDB) grew revenue 5.23%, in the lower peer quartile. The top line is expanding more slowly than at most peers, which can reflect softer demand, lost share, or weaker pricing.

HDFC Bank (HDB): Revenue Growth across different time periods, set against Banks industry-group medians.

EPS Growth

No usable EPS growth is available for HDFC Bank (HDB) this period, so the earnings-momentum read is skipped.

HDFC Bank (HDB) doesn't report EPS Growth this period; the bars show the Banks industry-group medians on their own.

Growth Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Revenue Growth (YoY)	5.23%	11.23%
Revenue Growth (3Y CAGR)	27.45%	6.33%
EPS Growth (YoY)	--	16.14%
EPS Growth (3Y CAGR)	--	3.15%

Financial Strength

Current Ratio (MRQ)

current ratio is set aside for HDFC Bank (HDB) in Banks: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for HDFC Bank (HDB) in Banks: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.

Financial Strength Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

HDFC Bank (HDB) has dividend yield of 52.63%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

HDB

Banks industry group

52.63%

Group distribution

HDB: 52.63%
Max: 5.79%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
Min: 0.00%

Largest peers

MUFG: 406.81%
HDB: 52.63%
RY: 3.23%
BAC: 2.33%
WFC: 2.19%
JPM: 1.82%
HSBC: 0.86%

Where HDFC Bank (HDB) stands on dividend yield within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

HDFC Bank (HDB) has payout ratio of 23.43%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

HDB

Banks industry group

23.43%

Group distribution

Max: 70.75%
Q3: 41.28%
Median: 29.26%
HDB: 23.43%
Q1: 18.98%
Min: 0.00%

Largest peers

HSBC: 53.57%
RY: 41.49%
MUFG: 34.74%
BAC: 27.62%
WFC: 26.09%
JPM: 25.80%
HDB: 23.43%

Where HDFC Bank (HDB) stands on payout ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
Dividend Yield (TTM)	52.63%	2.39%
Dividend Payout Ratio (TTM)	23.43%	29.26%

Valuation

P/E Ratio (TTM)

HDFC Bank (HDB) trades at P/E ratio of 16.22, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

HDB

Banks industry group

16.22

Group distribution

Max: 18.16
HDB: 16.22
Q3: 13.75
Median: 11.81
Q1: 10.64
Min: 6.49

Largest peers

RY: 17.58
HDB: 16.22
JPM: 14.03
MUFG: 13.71
WFC: 11.84
BAC: 11.79
HSBC: 11.38

Where HDFC Bank (HDB) stands on P/E ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

P/S ratio is not assessed for HDFC Bank (HDB) in Banks: the revenue line is driven by spread economics rather than conventional product or service sales, so book value or earnings usually carry more weight.

P/B Ratio (MRQ)

HDFC Bank (HDB) trades at 10.01 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

HDB

Banks industry group

10.01

Group distribution

HDB: 10.01
Max: 2.28
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

Largest peers

HDB: 10.01
HSBC: 6.87
RY: 2.92
JPM: 2.53
MUFG: 1.64
WFC: 1.59
BAC: 1.26

Where HDFC Bank (HDB) stands on P/B ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

HDFC Bank (HDB) metric values compared with Banks industry-group medians
Metric	Current stock: HDB	Industry group median
P/E Ratio (TTM)	16.22	11.81
P/S Ratio (TTM)	--	--
P/B Ratio (MRQ)	10.01	1.32
Free Cash Flow Yield (TTM)	--	--