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SBI Life Insurance Company Limited (SBILIFE) Fair Value & Analysis

Financial Services · IN · Market cap ₹1.8T (≈ $19.4B) · ISIN INE123W01016

What is SBI Life Insurance Company Limited really worth?

SL SBI Life Insurance Company Limited SBILIFE · NSE
Price₹1,775
Fair Value₹293.11
Upside−83.5%
Quality52/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

A solid business, but trading 506% above our fair value of ₹293.11.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +6.4 %/yr)
!Thin margins · 2.2% net margin
!Trails peers (4/14)
!Moderate moat 51/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 3 out of 100

For context

·0.15% dividend yield
Evidence: Low Range ₹219.83 – ₹366.38

Fair value as of: Aug 23, 2026

From 6 valuation models · updated 13 days ago

Share price −5.6% 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 (₹366.38). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (52/100) 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 (5 years)

₹2,110 ₹953.60 Fair Value ₹293.11 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹953.60 – ₹2,110 · fair‑value band ₹219.83 – ₹366.38 · the ₹1,775 price screens above the ₹293.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

SBI Life Insurance Company Limited (SBILIFE) currently trades at ₹1,775, while our model-based Fair Value estimate is ₹293.11, implying the stock looks roughly 505.7% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of ₹266.34 per share, and 0 of the 6 models we run sit above the ₹1,775 price. Bear case: the Dividend Discount group reads lowest at ₹46.43, and 6 of the 6 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, SBI Life Insurance Company Limited generated revenue of ₹1.1T at a net margin of 2.2%. Revenue declined 82.2% year over year. It earns a return on equity of 13.7%. The balance sheet holds a net cash position of ₹32.1B. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹219.83 (bear case) to ₹366.38 (bull case); at ₹1,775, 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 17% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −29% fair-value upside, at −83%, SBILIFE screens richer 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 ₹9.50 per share, which is 3.2 % 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹183.22 ₹234.34 ₹649.34 67
DDM Multi-Stage ₹25.96 ₹46.43 ₹59.07 66
Gordon GGM ₹25.96 ₹56.68 ₹95.37 65
All 6 models by family
Dividend Discount
Gordon GGM ₹25.96 ₹56.68 ₹95.37 65
DDM Multi-Stage ₹25.96 ₹46.43 ₹59.07 66
Multiples
P/E Multiple ₹240.07 ₹320.10 ₹400.12 63
P/B Multiple ₹199.75 ₹266.34 ₹332.92 55
Asset-Based
NCAV (Graham) ₹95.12 ₹127.46 ₹190.24 54
Economic Profit
Residual Income ₹183.22 ₹234.34 ₹649.34 67

Widest divergence: Multiples (₹266.34) versus Dividend Discount (₹46.43). Highest evidence: Residual Income (67).

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Key figures & financial health

P/E ratio 72.2
P/S ratio 1.59 P/E × margin
EPS (TTM) ₹24.60 price ÷ EPS = P/E 72.2
Dividend yield 0.2% payout 11.0%
Net margin 2.2% FY2026
Return on equity 13.7% TTM
More key figures
Profitability
Return on assets (EBIT) 0.5% avg 5y
Operating margin 21.2% TTM
Growth
Revenue (TTM) ₹1.1T TTM
Revenue growth (YoY) −82.2% 3y avg +11.5%
EPS growth (YoY) −1.1%
Balance sheet & cash flow
Free cash flow ₹343B FY2026
Net cash ₹32.1B FY2026

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 46 · Market factors (momentum, volatility) 52

Profitability 24
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 2
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

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

SBI Life Insurance Company Limited operates as a private life insurance company in India. The company's life insurance business comprises individual and group life insurance products, including participating, non-participating, pension, group gratuity, group leave encashment, group superannuation, group immediate annuity, unit-linked and variable insurance …

Full company description

SBI Life Insurance Company Limited operates as a private life insurance company in India. The company's life insurance business comprises individual and group life insurance products, including participating, non-participating, pension, group gratuity, group leave encashment, group superannuation, group immediate annuity, unit-linked and variable insurance products, health, and micro insurance. It also provides accident and disability benefit, level term, and critical illness insurance products. In addition, the company offers online savings, protection, retirement, and child life insurance plans, as well as wealth creation with insurance products; and corporate solutions, group loan protection, and group micro insurance plans. It offers its products through a multi-channel distribution network comprising individual agents, brokers, corporate agents, bancassurance partners, and certified insurance facilitators, as well as through various partner branches. The company was incorporated in 2000 and is based in Mumbai, India. SBI Life Insurance Company Limited is a subsidiary of State Bank of India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

SBI Life Insurance Company Limited reported revenue of ₹1.1T in FY2026 versus ₹829B in FY2022, a compound +7.8%/yr. Reported net income was ₹24.7B in FY2026, compounding +13.2%/yr from FY2022.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹1.1T
Latest YoY
−3.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.4%
Avg. revenue growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.0%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.3% (11.1 + 0.2)
Revenue +7.8%/yr
FY22 ₹829B
FY23 ₹806B
FY24 ₹1.3T
FY25 ₹1.2T
FY26 ₹1.1T
Net income +13.2%/yr
FY22 ₹15.1B
FY23 ₹17.2B
FY24 ₹18.9B
FY25 ₹24.1B
FY26 ₹24.7B
Character of growth · EPS growth decomposed (2015-2026) +11.1 % p.a.
Revenue per share +19.4 %

of which total revenue +19.4 % · buybacks/dilution +0.0 %

EBIT margin −6.8 %
Tax rate −0.1 %
Residual (interest, one-offs) +0.0 %

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).

SBILIFE screens 506% overvalued. Compare with China Life Insurance Company →

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Cite: Fair Value Calculator (2026). "SBI Life Insurance Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SBILIFE

Peer Group

Insurance - Life · 96 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.

Quality Score 46 · Below median
Fair Value upside −84% · Bottom 25%
Return on equity (TTM) 14% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) 2% · Bottom 25%
Operating margin (TTM) 21% · Above median
Revenue growth −82% · Bottom 25%
Dividend yield (TTM) 0.2% · Bottom 25%

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 72.2× · Pricier than 75% of peers
P/B 9.58× · Pricier than 75% of peers
P/S (TTM) 1.63× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 64.8× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 18
FUTURE0 · sector 43
PAST55 · sector 43
HEALTH100 · sector 84
DIVIDEND3 · sector 54

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.

None of the checked exposures detected

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥37.03 ¥49.98 +35%
Ping An Insurance (Group) Company 601318 ¥55.82 ¥84.72 +52%
AIA Group 1299 HK$73.00 HK$33.57 −54%
Manulife Financial Corporation MFC C$59.80 C$38.80 −35%
Aflac Incorporated AFL $116.52 $74.34 −36%
Great-West Lifeco Inc GWO C$90.25 C$39.53 −56%
MetLife, Inc MET $96.51 $68.27 −29%
Life Insurance Corporation LICI ₹412.15 ₹392.93 −5%
China Pacific Insurance (Group) Co 601601 ¥30.20 ¥57.51 +90%
Samsung Life Insurance Co 032830 301,000 KRW 191,293 KRW −36%

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Frequently asked questions

Is SBI Life Insurance Company Limited (SBILIFE) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹293.11 versus a price of ₹1,775, about −83% upside (overvalued).
What is the fair value of SBILIFE?
Our model-based fair value for SBI Life Insurance Company Limited is ₹293.11 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹1,775.
What is the quality score of SBILIFE?
SBI Life Insurance Company Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of SBI Life Insurance Company Limited (SBILIFE)?
SBI Life Insurance Company Limited reported trailing-twelve-month revenue of about ₹1.1T (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SBILIFE?
The net profit margin of SBI Life Insurance Company Limited is about 2.2%, meaning it keeps roughly 2.2% of revenue as net income. Based on the latest reported figures.
Does SBI Life Insurance Company Limited pay a dividend?
SBI Life Insurance Company Limited currently shows a dividend yield of about 0.15% relative to its recent price (as of Aug 23, 2026).
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