Unclassified · NSE: SBIN
State Bank of India share analysis
Fair value, business quality, the case for and against, and the risks — computed by VestCall from reported data, updated 14 October 2026.
State Bank of India in one paragraph
State Bank of India (NSE: SBIN) was trading at ₹952.5 on 14 October 2026. VestCall scores its business health 66/100 (healthy). On valuation, the price sits in the “Valuation Premium” zone (₹901.6 and above) — above the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.
- Share price₹952.5
- Business health66/100
- Growth60/100
- Financial strength50/100
- Valuation37/100 · Fair
- Valuation zoneValuation Premium
- RiskMedium
Is State Bank of India overvalued or undervalued?
At ₹952.5, State Bank of India sits in VestCall’s “Valuation Premium” zone (₹901.6 and above): above the modelled fair-value range. Its valuation scores 37/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.
| Valuation zone | Price band | What it means |
|---|---|---|
| Deeply Discounted | ₹755.74 – ₹803.95 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹803.95 – ₹875.35 | Below the modelled fair-value range |
| Fairly Valued | ₹875.35 – ₹901.6 | Inside the modelled fair-value range |
| Valuation Premium (current) | ₹901.6 and above | Above the modelled fair-value range |
The case for and against State Bank of India
What supports the case
- Shareholding Quality · 82/100.
- Capital Allocation · 79/100.
- Management Stability · 67/100.
- Business Quality · 65/100.
- Growth · 61/100.
What needs proof
- Financial Strength · 50/100.
State Bank of India key ratios
| Ratio | State Bank of India | Unclassified median |
|---|---|---|
| P/E | 16.07x | — |
| P/B | 0.09x | — |
| P/S | 0.07x | — |
| Return on equity (ROE) | 15.6% | — |
| Return on capital employed (ROCE) | 20.9% | — |
| Operating margin | 16.1% | — |
| Net margin | 12.0% | — |
State Bank of India growth
Growth scores 60/100, with a stable trend, measured Mar 2023 to Mar 2026.
| Measure | Reading |
|---|---|
| Revenue CAGR | 14.4% |
| Net profit CAGR | 14.6% |
| EPS CAGR | 13.5% |
| Revenue growth, latest year | 7.0% |
| Profit growth, latest year | 7.8% |
State Bank of India bull, base and bear case
Modelled annual return under three sets of stated assumptions over 5 years. These are model outputs, not a forecast or a promise of return.
| Scenario | Modelled CAGR | Weight | Assumption |
|---|---|---|---|
| Bear | +0.6% | 19% | Growth decelerates to 4.6% and the multiple de-rates toward the cohort's trough. |
| Base | +12.9% | 55% | Earnings compound near the measured 12.9% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +21.5% | 26% | Growth holds at 18% and the market pays the full premium the measured quality supports. |
Risks to watch in State Bank of India
| Review trigger | Current | Threshold | Status |
|---|---|---|---|
| Return on equity falls below the quality floor | 15.64% | below 15% | high · armed |
| Revenue growth falls below the thesis floor | 14.45% | below 8% | high · armed |
| Promoter holding drops materially | 55.47% | below 52.52%, 3 points under the Mar 2026 filing | high · armed |
| Price runs more than two sigma above its own trend | 952.5 | at or above 1496.2 | medium · armed |
| Drawdown from the 52-week high exceeds tolerance | 22.42% | at or beyond 25% | low · armed |
| Leverage doubles from the level underwritten today | No leverage line in the balance sheet | unavailable | high · unmeasurable |
| Promoter pledge rises above tolerance | No pledge disclosed (the NSE filing for SBIN could not be read either (nse_session_unavailable)) | above 10% | high · unmeasurable |
| Valuation reaches the top of its own cohort | No cohort multiple to rank against | at or above the 95th percentile | medium · unmeasurable |
An armed trigger is watched and has not fired; a breached one has.
How State Bank of India shares have traded
| Measure | Reading |
|---|---|
| 52-week range | ₹858.25 – ₹1,227.8 |
| Distance from 52-week high | −22.4% |
| Return, 3 months | −6.2% |
| Return, 12 months | +9.0% |
| Trend | Sideways |
| Annualised volatility | 24.6% |
| Deepest drawdown, 2 years | −23.9% |
Questions about State Bank of India shares
Is State Bank of India overvalued or undervalued?
At ₹952.5, State Bank of India sits in VestCall’s “Valuation Premium” zone (₹901.6 and above): above the modelled fair-value range. Its valuation scores 37/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.
Is State Bank of India fundamentally strong?
VestCall scores State Bank of India’s business health 66/100 (healthy). The strongest measured pillars are shareholding quality and capital allocation. The ones that need proof are financial strength. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.
What is State Bank of India’s P/E ratio?
State Bank of India trades at a P/E of 16.07x, on VestCall’s latest read. A multiple only means something against the business it buys: the quality-adjusted fair value on this page weighs it against State Bank of India’s returns and growth.
What are the risks of investing in State Bank of India?
The review triggers VestCall watches for State Bank of India are: return on equity falls below the quality floor (roe below 15%); revenue growth falls below the thesis floor (revenue cagr below 8%); promoter holding drops materially (promoter holding below 52.52%, 3 points under the Mar 2026 filing). On the fundamentals, financial strength is the weakest measured pillar at 50/100. A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.
Is this a recommendation to buy or sell State Bank of India?
No. VestCall states where State Bank of India’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.
Compare with other companies in Banks
Read the full State Bank of India analysis
Every score opens into its signals, the valuation into its anchors and workings, and the statements are one click away. Free, no account needed.