TATASTEEL.NS Tata Steel Limited
INR·Price 195.15·Mkt cap 2.43TComputed from the latest reported financials and the current market price.
Who's the real player?
A genuine play on this theme — most of its business sits right here.
Is the business healthy?
Healthy business: it turns profit into real cash and earns solid returns on capital.
- Strong cash flow quality
- Positive FCF conversion
- Minimal earnings management
Are the smart people buying?
No ownership-change data for this stock. Conviction is judged from capex and buyback signals alone.
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 183.26 vs price 195.15 — screens fair on a cash-flow DCF (-6.1% to intrinsic). The base FCF growth assumption of 15% is high and may not be sustainable unless the company operates in a rapidly growing sector.
| Intrinsic / share | 183.26 |
| Price | 195.15 |
| Upside to intrinsic | -6.1% |
| Reverse-DCF implied g | 15.6% |
Base FCF 100.22B · growth 15.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 11% | 13% | 15% | 17% | 19% |
| 10% | 202.28 | 247.36 | 299.71 | 360.39 | 430.59 |
| 11% | 154.04 | 189.94 | 231.55 | 279.69 | 335.29 |
| 12% | 119.77 | 149.21 | ★ 183.26 | 222.59 | 267.93 |
| 13% | 94.21 | 118.88 | 147.36 | 180.19 | 217.98 |
| 14% | 74.46 | 95.48 | 119.7 | 147.57 | 179.6 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 1 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.9
- Solid liquidity (current ratio ≥ 1.5) — now 0.75
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 2 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Consistent revenue (consistency ≥ 80%) — now 94.6%
- Positive net margin — now 4.7%
- High returns on capital (ROCE ≥ 18%) — now 11%
- Very low debt (D/E ≤ 0.5) — now 0.9
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 94.6%
- Quality: ROCE ≥ 18% — now 11%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.9
- ROE ≥ 15% — now 10.6%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Positive free cash flow — now 8.9%
- Conservative leverage (D/E ≤ 1.0) — now 0.9
- ROE ≥ 15% — now 10.6%
- Net margin ≥ 10% — now 4.7%
- Trades below intrinsic value (margin of safety ≥ 0) — now -6.5%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 1 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.9
- ROE ≥ 18% — now 10.6%
- Net margin ≥ 10% — now 4.7%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 1 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.9
- High returns on capital (ROCE ≥ 15%) — now 11%
- ROE ≥ 15% — now 10.6%
- Trades below intrinsic value (margin of safety ≥ 0) — now -6.5%
- A high-quality, understandable business
- A durable moat
- Management of integrity
▶
Passes 1 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Debt below equity (D/E ≤ 1.0) — now 0.9
- P/E ≤ 15 — now 22.42
- P/B ≤ 1.5 — now 2.37
- Graham number: P/E × P/B ≤ 22.5 — now 53.1
- Strong liquidity (current ratio ≥ 1.5) — now 0.75
- Financially safe (Altman Z ≥ 3) — now 2.15
- A long record of stable earnings
- An uninterrupted dividend history
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 2.30T | 2.17T | 2.27T | 2.42T | — |
| Operating income | 223.98B | 148.77B | 123.82B | 213.07B | — |
| EBITDA | 350.93B | 261.80B | 162.49B | 338.75B | — |
| Net income | 107.94B | 34.21B | -44.37B | 87.60B | — |
| Operating cash flow | 350.64B | 231.38B | 203.01B | 216.83B | — |
| Capex | -145.59B | -156.71B | -182.07B | -141.42B | — |
| Free cash flow | 205.05B | 74.67B | 20.94B | 75.41B | — |
| Total assets | 3.01T | 2.79T | 2.73T | 2.88T | — |
| Total equity | 1.02T | 911.70B | 920.36B | 1.03T | — |
| Total debt | 923.82B | 948.01B | 870.82B | 848.93B | — |
| Cash & equivalents | 88.85B | 96.05B | 70.81B | 121.30B | — |