SBIN · NSE · Public Sector Bank
State Bank of India
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Financial Services
fair
low confidence
No valuation within 120 days; P/E 10.3 vs peers 9.2 (7th of 11); P/B 1.8 vs peers 1.4 (7th of 11).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is State Bank of India's share price today?
State Bank of India last traded at ₹941.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.9% on the day, up 8.6% over a year. Its 52-week range is ₹857 to ₹1,235. The live price is in the app.
₹941.00
−1.9% today
+8.6% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range22% of the way up
Low ₹857High ₹1,235
What is State Bank of India's market cap?
State Bank of India's market capitalisation is about ₹8.85 lakh crore: what it would cost to buy every share at today's price. That makes it the 5th largest large cap company we cover.
₹8.9 L Cr
Large Cap5th largest large cap company
Share price₹941.00
×
Shares in issue941 crore
=
Market cap₹8.9 L Cr
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: SBIN
- ISIN
- INE062A01020
- Cap bucket
- Large Cap, 5th largest by market cap
- Industry (NSE)
- Financial Services › Banks › Public Sector Bank
- Listed since
- 1995
- Futures and options
- Traded
Is State Bank of India overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 10.3 vs peers 9.2 (7th of 11); P/B 1.8 vs peers 1.4 (7th of 11).
Valuation
Latest price and trailing 12 months
P/E
10.28
vs peers 9.2 · 7th of 11
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
1.77
vs peers 1.4 · 7th of 11
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹8.85 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
1.8%
vs peers 2.2% · 7th of 10
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
2.40
vs peers 2.6 · 4th of 9
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
0.75
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is State Bank of India a quality business?
Quality score 48.3, 8th of 11 in its peer set; CLEAN on 20 of 22 lender flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
48.3
vs peers 58 · 8th of 11
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
CLEAN
20 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Lender scorecard
Statements through FY2026 (Mar-26)
Basis: standalone accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is interest earned less expended over average advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over average advances; ROA over average total assets; ROE over average equity; GNPA, NNPA, provision coverage, CET1 from the Jun-26 quarter filing
Net interest margin
2.8%
vs peers 3.4% · 8th of 11
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA
1.5%
vs peers 1.7% · 5th of 11
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA
0.4%
vs peers 0.4% · 7th of 11
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage
74.2%
How much of the gross bad loans has already been provided for. Learn more →
Credit cost
0.4%
vs peers 0.6% · 4th of 11
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income
51.1%
vs peers 47.5% · 10th of 11
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets
1.1%
vs peers 1.4% · 8th of 11
Profit as a share of average total assets. Learn more →
CET1 ratio
12.9%
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY
17.2%
vs peers 16.0% · 2nd of 11
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY
11.0%
vs peers 11.9% · 8th of 11
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio
Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app
Get a sneak peek of Valarth
Has State Bank of India made money for shareholders?
Yes: +8.6% over one year and +16.2% a year over five years.
Shareholder returns
5-year return
+16.2% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+0.1%1M
−0.9%3M
−7.5%6M
−9.8%1Y
+8.6%3Y
+19.3%5Y
+16.2%Does State Bank of India pay a dividend?
Yes. State Bank of India's dividend yield is 1.77% at the latest price; the last payout was ₹17.35 a share, ex-dividend 15 May 2026.
Dividends
Per share, by ex-dividend date
Dividend yield1.77%
The past 12 months' dividends as a share of today's price.
15 May 2026 · Final₹17.35
16 May 2025 · Final₹15.90
22 May 2024 · Final₹13.70
31 May 2023 · Final₹11.30
25 May 2022 · Final₹7.10
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is State Bank of India growing?
Loan growth 17.2%; deposit growth 11.0%; revenue 3 years 14.6% a year.
Growth
Statements through FY2026 (Mar-26)
Loan growth
17.2%
vs peers 16.0% · 2nd of 11
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth
11.0%
vs peers 11.9% · 8th of 11
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years
14.6% a year
vs peers 14.5% · 6th of 11
Compound annual growth of revenue over three years. Learn more →
EPS 3 years
13.8% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years
12.3% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years
29.6% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
How did State Bank of India do last quarter?
State Bank of India reported income of ₹1.8 L Cr, up 7.4% on a year earlier and a net profit of ₹24,113 Cr, up 7.4% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Income, latest quarter₹1.8 L Cr
+7.4% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹24,113 Cr
+7.4% on a year earlier
What was left for shareholders after every cost and tax.
How does State Bank of India compare with its peers?
Compared with 10 Banks (the industry, as the basic industry was too small); 7th of 11 on P/E; 8th of 11 on quality score.
Compared with 10 Banks (the industry, as the basic industry was too small)
10 companies
State Bank of India against its peers
Largest 10 of 10 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
State Bank of India₹8.9 L Cr10.31.817.3%+8.6%
Peer median—9.21.415.1%−0.9%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns State Bank of India?
State Bank of India is held by promoters 55.5%, foreign institutions 10.8%, domestic institutions 26.6%.
Shareholding pattern
Latest filing, percent of shares
Promoters55.5%
The founders and controlling group.
Foreign institutions10.8%
Overseas funds investing through the FPI route.
Domestic institutions26.6%
Indian insurers, banks, pension and mutual funds together.
Mutual funds13.6%
Indian mutual fund schemes; part of domestic institutions.
Retail and others5.6%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about State Bank of India?
38 analysts cover State Bank of India, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
38 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does State Bank of India do and what is it sensitive to?
State Bank of India is a universal bank providing corporate and retail banking, treasury operations, and international banking services across 29 countries and India. Sensitive to: interest rates (policy and market rates).
Business-model card
FY2025 · 73 verified
5Revenue
8Channels
4Regulators
7Reg. dependencies
9Sensitivities
5Costs
2Geographies
State Bank of India is a universal bank providing corporate and retail banking, treasury operations, and international banking services across 29 countries and India. It earns revenue through interest income on advances, fees from trade finance and forex services, treasury gains, and insurance underwriting through subsidiary SBI Life.
Revenue by segment
year ended 31st March 2025 (consolidated)
Corporate / Wholesale Banking20.7%
Retail Banking - Digital Banking1.1%
Retail Banking - Other Retail Banking32.5%
Insurance Business29.8%
Other Banking Operations15.9%
Revenue engine
5 verified
Retail Banking (including Digital Banking) (44.6%)
Mobilizes deposits and funds retail lending; primary resource mobilisation unit that funds Corporate and Treasury segments via Market-related Funds Transfer Pricing
Corporate / Wholesale Banking (28.1%)
Lending to corporate accounts, commercial clients, and stressed asset resolution; recipient of funds priced via MRFTP from retail mobilization
Treasury Operations (25.8%)
Invests in SLR and Non-SLR securities, equities, mutual funds, private equity, venture capital; manages foreign exchange and risk management for clients
2 more statements
Subsidiary SBI Life: life insurance underwriting
Individual and group life insurance premiums; bancassurance channel via SBI as largest partner; 240,304 agent network
International Banking – trade finance and forex services
Supports exporters and importers; provides trade finance and foreign exchange services through domestic and foreign office network
Customers & channels
8 verified
Retail customers: individuals, salaried professionals, agriculturists, NRIs, pensioners, high net worth individuals
Deposit mobilization and loan products; primary source of funds for other segments
Corporate customers: large businesses, government, PSUs, MNCs, publicly listed companies
Loans, treasury services, syndicated loans, trade finance, investment banking, foreign exchange
Commercial and Rural Banking customers: MSMEs, startups, small and marginal farmers
Agricultural lending and small business lending in semi-urban and rural areas
5 more statements
Subsidiary SBI Life: individual policyholders and group insurance buyers
Life insurance underwriting; distribution through bancassurance, agent network, direct sales, corporate agents, brokers
Branch channel
22,937 branches and 25,674 branches & offices nationally; extensive network for retail and commercial products
Digital channels: YONO app, WhatsApp Banking, mobile banking, UPI, ATM
98% of transactions now conducted digitally; 80+ customer-centric services via WhatsApp in 21 journeys and multiple languages
Banking Correspondent (BC) channel
Cost-effective delivery channel reducing branch footfall and freeing branch manpower
International operations: 244 foreign offices across 29 countries
Support for global Indian corporates and diaspora; forex and trade finance services
Regulators
4 verified
Reserve Bank of India (RBI)
Issues Master Directions, Notifications and Guidelines governing banking operations, credit policy, treasury management, capital adequacy, and regulatory compliance
Insurance Regulatory and Development Authority (IRDAI)
Regulates subsidiary SBI Life's life insurance business, including premium pricing, claims settlement, actuarial liability calculation, and product design
Securities and Exchange Board of India (SEBI)
Governs listing obligations, disclosure requirements, non-convertible securities, and investor protection for the bank's securities
1 more statement
Government of India (GoI) and State governments
Set capital expenditure policy and infrastructure development priorities that drive credit demand and growth
Regulatory dependencies
7 verified
RBI interest rate policy and monetary policy stance
Changes in RBI policy rates and stance directly impact Net Interest Income (NII) on advances and investment portfolio; RBI shifted to neutral stance Oct 2024 and cut rates 25 bps Feb 2025
Credit growth regulatory guidance and shift away from unsecured assets
Systemic shift away from unsecured lending modulates credit portfolio growth; RBI guidance on sectoral exposure affects lending appetite and risk weights
RBI capital adequacy and ICAAP requirements
RBI mandates Internal Capital Adequacy Assessment Process (ICAAP) annually; Pillar 1 risks (Credit, Market, Operational) and Pillar 2 risks (Liquidity, IRRBB, Concentration) determine minimum capital allocation
4 more statements
IRDAI valuation and actuarial liability framework for life insurance
Subsidiary SBI Life's policy liabilities and reserves must be calculated per IRDAI-specified actuarial practices; changes in discount rates and mortality assumptions affect profitability
RBI liquidity management and SLR/Non-SLR investment limits
RBI statutory liquidity ratio (SLR) requirements constrain treasury portfolio composition and returns; portfolio management must comply with RBI Master Directions on investment classification
RBI classification and valuation of investments
RBI Master Direction on Classification, Valuation and Operation of investments governs accounting and valuation methodologies for the treasury portfolio
Trade finance and forex regulations
RBI regulations on forex bookings, trade documentation, and remittance limits (e.g., LRS cap at $250,000) govern international banking operations
Sensitivities
9 verified
Interest rates (policy and market rates)
100 bps parallel shift in yield curve impacts NII by ₹9,420 crore; 200 bps shift impacts NII by ₹18,841 crore; rising rates hurt asset valuations and deposits costs
Global trade tariffs and currency volatility
Trade-related tariff barriers and rapid currency swings reduce global demand and corporate lending; global GDP downside risk 30–50 bps in 2025
Crude oil prices
Lower crude prices ease inflation and reduce input costs for borrowers; expected to remain subdued in near term
6 more statements
Inflation and CPI
Lower inflation enables RBI rate cuts, boosting loan demand and reducing liability costs; CPI inflation expected below 4% going ahead
Indian GDP growth and domestic consumption
Domestic consumption and investment anchor credit growth; GDP projected at 6.5% for FY2025, though may moderate due to tariff impacts
Rupee exchange rate and forex markets
Rapid currency swings from global trade tensions affect forex trading revenue and NII on foreign currency assets; limits capital flows to India
Equity market valuations
Decline in equity indices reduces treasury gains and fee income from equity underwriting; treasury holds equities and mutual funds
Geopolitical risks and policy uncertainties
Geopolitical shocks and shifting trade policies create volatility in asset prices, investments, and exchange dynamics; cascading effects on monetary policy
Weather and supply-side shocks
Monsoon failure and agricultural disruption affect farm income, farm loan demand, and rural lending quality
Cost inputs
5 verified
Deposit costs and liability management
Cost of raising deposits from retail customers via branches and digital channels; priced via Market-related Funds Transfer Pricing (MRFTP)
Technology and infrastructure costs
Meghdoot private cloud hosting 350+ applications including UPI and DBT; cloud and data centre costs; digital platform maintenance
Depreciation on fixed assets and leased assets (1.7%)
Depreciation includes branch buildings, ATMs, technology hardware; total depreciation ₹3,991 crores in FY2025
2 more statements
Subsidiary SBI Life: insurance acquisition costs and commission
Commission, medical fees, and policy issuance expenses incurred at acquisition of new and renewal insurance contracts
Other operating expenses for insurance business
Subsidiary SBI Life: policyholder service, claims processing, and administrative costs; ₹1,03,654 crores in FY2025
Geographies
2 verified
India (domestic operations)
Primary market; 22,937 branches, 25,674 branches & offices, 63,791 ATMs/ADWMs across 28 States and 8 Union Territories; retail and commercial banking hub
29 countries (international operations)
244 foreign offices including branches, subsidiaries, representative offices, joint ventures; support for global Indian corporates and diaspora
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (7 Aug 2026).
Change log
6 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsCLEAN on 20 of 22 lender flags judged; no red flag; 2 could not be judged.
- Data gapsBusiness quality, CASA ratio: not available yet.
Not applicable to a bank, lender or insurer · 12
- Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
- Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
- Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
- Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
- Interest coverageInterest is a lender's main cost, not a charge on operating profit.
- Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
- EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
- FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
- Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
- Asset turnoverA lender earns a spread on its assets, not a turnover of them.
- ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
- ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓285 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 73 verified
Questions people ask
What is State Bank of India's share price today?
State Bank of India last traded at ₹941.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.9% on the day, up 8.6% over a year. Its 52-week range is ₹857 to ₹1,235. The live price is in the app.
What is State Bank of India's market cap?
State Bank of India's market capitalisation is about ₹8.85 lakh crore: what it would cost to buy every share at today's price. That makes it the 5th largest large cap company we cover.
Is State Bank of India a large cap, mid cap or small cap?
State Bank of India (SBIN) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is State Bank of India's P/E ratio?
10.28, vs peers 9.2 · 7th of 11. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is State Bank of India overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 10.3 vs peers 9.2 (7th of 11); P/B 1.8 vs peers 1.4 (7th of 11).
How does State Bank of India make money?
State Bank of India is a universal bank providing corporate and retail banking, treasury operations, and international banking services across 29 countries and India. It earns revenue through interest income on advances, fees from trade finance and forex services, treasury gains, and insurance underwriting through subsidiary SBI Life.
Why is there no Altman Z or debt to equity for State Bank of India?
Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.
Who are State Bank of India's peers?
Compared with 10 Banks (the industry, as the basic industry was too small): HDFC Bank Ltd, ICICI Bank Ltd, Kotak Mahindra Bank Ltd, Axis Bank Ltd, Punjab National Bank and 5 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did State Bank of India do last quarter?
State Bank of India reported income of ₹1.8 L Cr, up 7.4% on a year earlier and a net profit of ₹24,113 Cr, up 7.4% in the Jun 2026 quarter.
Who owns State Bank of India?
State Bank of India is held by promoters 55.5%, foreign institutions 10.8%, domestic institutions 26.6%.
Does State Bank of India pay a dividend?
Yes. State Bank of India's dividend yield is 1.77% at the latest price; the last payout was ₹17.35 a share, ex-dividend 15 May 2026.
What do analysts say about State Bank of India?
38 analysts cover State Bank of India, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.