LT.NS
Larsen & Toubro LimitedExplain this page
Arphra AIPlain-English read on Larsen & Toubro Limited’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Valuation multiples
| In USD | FY 2026 |
|---|---|
| Headline | |
| Market cap | $4.82T |
| Enterprise value | $5.87T |
| Multiples | |
| P / E | — |
| P / B | — |
| EV / EBITDA | — |
| EV / Sales | 2.05 |
| EV / FCF | 48.84 |
| Yields | |
| Earnings yield | +3.34% |
| Free cash flow yield | +2.49% |
| Dividend yield | — |
Profitability
| In USD | FY 2026 |
|---|---|
| Margins | |
| Gross margin | +12.76% |
| Operating margin | +8.67% |
| EBITDA margin | +10.20% |
| EBIT margin | +8.67% |
| Pre-tax margin | +9.01% |
| Net margin | +5.63% |
| Cost structure | |
| Cost of revenue / sales | +87.24% |
| R&D intensity | 0.00% |
| SG&A intensity | +4.09% |
| Effective tax rate | +26.45% |
Returns on capital
| In USD | FY 2026 |
|---|---|
| Returns | |
| Return on equity (ROE) | +12.51% |
| Return on assets (ROA) | +3.55% |
| Return on capital (ROC) | +9.76% |
| Return on invested capital (ROIC) | +6.33% |
| Asset turnover | +63.17% |
| DuPont · ROE decomposition | |
| Net margin | +5.63% |
| Asset turnover (× revenue / assets) | +63.17% |
| Equity multiplier (× assets / equity) | +352.10% |
Activity & efficiency
| In USD | FY 2026 |
|---|---|
| Turnover | |
| Asset turnover | 0.63 |
| Fixed-asset turnover | 12.72 |
| Inventory turnover | 26.17 |
| Receivables turnover | 2.75 |
| Payables turnover | 3.59 |
| Days outstanding | |
| Days sales outstanding (DSO) | 132.68 |
| Days inventory outstanding (DIO) | 13.95 |
| Days payables outstanding (DPO) | 101.65 |
| Cash conversion cycle | 44.98 |
Cash flow quality
| In USD | FY 2026 |
|---|---|
| Operating CF / Net income | 1.05 |
| FCF / Net income | 0.75 |
| FCF margin | +4.20% |
| OCF margin | +5.88% |
| CapEx / Revenue | +1.68% |
| CapEx / D&A | 1.10 |
| Stock-based comp / Revenue | 0.00% |
Per-share & shareholder yield
| In USD | FY 2026 |
|---|---|
| EPS · diluted | 116.93 |
| EPS · basic | 116.93 |
| Book value / share | 934.41 |
| Tangible BV / share | 857.46 |
| Sales / share | 2078.30 |
| Operating CF / share | 122.28 |
| Free cash flow / share | 87.32 |
| Dividends / share | 34.00 |
| Payout ratio | +29.07% |
| Retention ratio | +70.93% |
Growth
| In USD | FY 2026 | CAGR |
|---|---|---|
| Top-line | ||
| Revenue · YoY | — | — |
| Gross profit · YoY | — | — |
| Profit | ||
| Operating income · YoY | — | — |
| EBITDA · YoY | — | — |
| Net income · YoY | — | — |
| Operating | ||
| EBIT · YoY | — | — |
| R&D · YoY | — | — |
| Per-share | ||
| EPS · diluted · YoY | — | — |
| EPS · basic · YoY | — | — |
Credit & leverage
| In USD | FY 2026 |
|---|---|
| Leverage | |
| Total debt | $1.25T |
| Net debt | $1.05T |
| Net debt / EBITDA | 3.59 |
| Debt / equity | 0.98 |
| Debt / assets | +27.73% |
| Equity / assets | +28.40% |
| Coverage | |
| EBITDA / interest expense | 10.23 |
| Operating income / interest | 8.70 |
| Interest expense | $28.49B |
| Liquidity | |
| Current ratio | 1.25 |
| Quick ratio | 0.79 |
| Cash ratio | 0.09 |
| Working capital | $593.1B |
| Working capital / revenue | +20.75% |
Historical multiples · μ ± σ bands
3 fiscal-year-end observations from key_metrics. Mean is dashed; light-green band is ±1σ, light-red band ±2σ. The dot marks the most recent value; the cheap / fair / rich verdict uses z-score against the issuer's own history (yields inverted — a high yield is cheap).
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| P / E | — | — | — |
| P / B | — | — | — |
| EV / EBITDA | — | — | — |
| EV / Sales | 2.05x | 2.34x | 2.83x |
| Earnings yield | 3.3% | 3.1% | 2.4% |
| FCF yield | 2.5% | 1.0% | 2.6% |
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Gross margin | — | — | — |
| Operating margin | — | — | — |
| Net margin | — | — | — |
| ROE | 14.7% | 15.4% | 15.1% |
| ROA | 3.6% | 4.0% | 3.8% |
| ROIC | 6.6% | 7.7% | 8.0% |
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / equity | — | — | — |
| Net debt / EBITDA | 3.59 | 4.05 | 3.89 |
| Interest coverage | — | — | — |
| Current ratio | 1.25x | 1.21x | 1.23x |
| Quick ratio | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).