JIO Financial Services Ltd (JIOFIN) Fair Value & Analysis
Financial Services · IN · Market cap ₹1.6T (≈ $17.0B) · ISIN INE758E01017
What is JIO Financial Services Ltd really worth?
A solid business, but trading 39% above our fair value of ₹171.84.
Strengths
Risks
For context
Fair value as of: Aug 27, 2026
From 2 valuation models · updated 8 days ago
Share price −8.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹214.80). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
36‑month range ₹200.14 – ₹386.44 · fair‑value band ₹128.88 – ₹214.80 · the ₹239.50 price screens above the ₹171.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Analysis
JIO Financial Services Ltd (JIOFIN) currently trades at ₹239.50, while our model-based Fair Value estimate is ₹171.84, implying the stock looks roughly 39.4% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Financial Services sector. How firm this estimate is: it rests on 26 models at a data quality of 96/100, which puts the evidence level at high.
Over the trailing twelve months, JIO Financial Services Ltd generated revenue of ₹27.0B at a net margin of 57.8%. Revenue grew 39.4% year over year. It earns a return on equity of 1.2%. Net debt stands at ₹182B. Fundamentals as of Aug 27, 2026
Our scenario range runs from ₹128.88 (bear case) to ₹214.80 (bull case); at ₹239.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −28%, JIOFIN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹0.7828 per share, which is 0.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 2 models by family
Widest divergence: Multiples (₹172.31) versus Asset-Based (₹135.82). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 44
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Jio Financial Services Limited, through its subsidiaries, engages in the business of investing and financing, insurance broking, payment bank and payment aggregator, and payment gateway services in India.
Full company description
Jio Financial Services Limited, through its subsidiaries, engages in the business of investing and financing, insurance broking, payment bank and payment aggregator, and payment gateway services in India. The company provides loans, savings accounts, recharges, digital insurance, financial tracking, management tools, digital banking, unified payments interface transactions, bill payments, and insurance advisory; and asset and wealth management, and broking services, as well as operating lease solutions to consumers and businesses through a Device-as-a-Service model. It also provides insurance broking services, such as car, bike, health, term, investment, SMEs, MSMEs, property, cyber risk, commercial lines, corporate, and education. In addition, it offers digital banking services, including zero balance, savings, salary, wallet, and online and offline payment solutions; debit cards; payment systems, including aadhaar enabled payment and domestic money transfer; digital payment solutions. Further, it provides home loan; home loan against balance transfer; loan against property, mutual funds, and shares; solar financing; corporate loans and lease; and distribution of life, non-life, and health insurance products. The company was formerly known as Reliance Strategic Investments Limited and changed its name to Jio Financial Services Limited in July 2023. Jio Financial Services Limited was incorporated in 1999 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
JIO Financial Services Ltd reported revenue of ₹35.4B in FY2026 versus ₹629K in FY2022, a compound +1,440.5%/yr. Reported net income was ₹15.6B in FY2026, compounding +452.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
of which total revenue +54.1 % · buybacks/dilution −2.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
JIOFIN screens 39% overvalued. Compare with Blackstone Inc →
Peer Group
Asset Management · 697 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Asset Management median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $142.39 | $52.88 | −63% |
| Investor AB INVEB | kr 417.20 | kr 824.66 | +98% |
| Brookfield Corporation BN | C$55.74 | C$10.67 | −81% |
| KKR & Co KKR | $108.68 | $19.97 | −82% |
| Apollo Global Management, Inc APO | $135.04 | $101.04 | −25% |
| State Street Corporation STT | $193.33 | $138.33 | −28% |
| Ameriprise Financial, Inc AMP | $559.32 | $515.24 | −8% |
| Ares Management Corporation ARES | $143.10 | $30.88 | −78% |
| Northern Trust Corporation NTRS | $186.79 | $122.02 | −35% |
| Raymond James Financial, Inc RJF | $181.10 | $142.42 | −21% |
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