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Trent Limited (TRENT) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹1.5T (≈ $16.4B) · ISIN INE849A01020

What is Trent Limited really worth?

TL Trent Limited TRENT · NSE
Price₹2,853
Fair Value₹1,277
Upside−55.2%
Quality63/100

A solid business, but trading 123% above our fair value of ₹1,277.

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Strengths

Low debt · generates free cash flow
Wide moat 68/100

Risks

!Mixed Growth (revenue 5y +50.6 %/yr)
!Thin margins · 8.6% net margin
!Mixed vs. peers (8/14)
!Evidence only medium, so the estimate is less certain
!The models disagree: range ₹725.62 to ₹2,413
!Weak on dividend: 7 out of 100

For context

·0.35% dividend yield
Evidence: Medium Range ₹725.62 – ₹2,413

Fair value as of: Aug 14, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 14, 2026, revised from ₹709.49 to ₹1,277 (+80.0%) since Jul 12, 2026. Share price −8.8% 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 (₹2,413). The favourable scenario is already priced in.
  • The model range is unusually wide (₹725.62 to ₹2,413). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹5,487 ₹514.96 Fair Value ₹1,277 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range ₹514.96 – ₹5,487 · fair‑value band ₹725.62 – ₹2,413 · the ₹2,853 price screens above the ₹1,277 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Trent Limited (TRENT) currently trades at ₹2,853, while our model-based Fair Value estimate is ₹1,277, implying the stock looks roughly 123.4% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of ₹1,031 per share, and 0 of the 26 models we run sit above the ₹2,853 price. Bear case: the Economic Profit group reads lowest at ₹349.34, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Trent Limited generated revenue of ₹201B at a net margin of 8.6%. Revenue grew 19.2% year over year. It earns a return on equity of 27.1%. Net debt stands at ₹22.8B. Fundamentals as of Aug 14, 2026

Our scenario range runs from ₹725.62 (bear case) to ₹2,413 (bull case); at ₹2,853, 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 2% below its 52-week high and 102% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at −55%, TRENT 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 ₹9.54 per share, which is 0.7 % 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹57.25 to ₹1,529). Read the values as a conservative anchor, not as a price target.
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
FCF DCF ₹308.29 ₹493.85 ₹1,101 75
EPV ₹342.29 ₹401.76 ₹454.62 74
Growth DCF ₹290.86 ₹557.82 ₹1,121 74
All 26 models by family
DCF Models
FCF DCF ₹308.29 ₹493.85 ₹1,101 75
Owner Earnings ₹416.78 ₹969.48 ₹2,182 70
5Y Revenue Exit ₹343.00 ₹628.16 ₹1,221 69
5Y EBITDA Exit ₹558.03 ₹1,068 ₹2,059 71
5Y P/E Exit ₹490.76 ₹1,145 ₹2,041 67
10Y Revenue Exit ₹324.27 ₹772.55 ₹1,115 65
10Y EBITDA Exit ₹498.68 ₹1,237 ₹2,640 63
10Y P/E Exit ₹448.75 ₹1,092 ₹2,234 59
Earnings-Based
Graham-Dodd ₹219.30 ₹1,529 ₹2,146 63
Lynch FV ₹547.21 ₹781.73 ₹1,016 61
PEG = 1.0 ₹547.21 ₹781.73 ₹1,016 57
EPV ₹342.29 ₹401.76 ₹454.62 74
Dividend Discount
Gordon GGM ₹32.01 ₹69.89 ₹117.60 65
DDM Multi-Stage ₹32.01 ₹57.25 ₹72.84 66
Multiples
P/E Multiple ₹532.12 ₹709.49 ₹886.86 63
P/S Multiple ₹338.82 ₹451.76 ₹564.69 58
P/B Multiple ₹392.96 ₹523.95 ₹654.94 55
EV/EBIT ₹590.66 ₹785.79 ₹980.92 66
EV/EBITDA ₹625.40 ₹832.11 ₹1,039 67
EV/Revenue ₹321.51 ₹457.03 ₹592.56 53
Asset-Based
NCAV (Graham) ₹65.49 ₹87.76 ₹130.99 54
Growth DCF
Growth DCF ₹290.86 ₹557.82 ₹1,121 74
Rev-Margin DCF ₹343.00 ₹717.24 ₹1,372 68
Economic Profit
Residual Income ₹241.43 ₹349.34 ₹2,827 64
ROIC Compounder ₹445.16 ₹672.30 ₹1,001 70
Growth Earnings
Growth-Adj P/E ₹721.79 ₹1,031 ₹1,340 67

Widest divergence: Growth Earnings (₹1,031) versus Dividend Discount (₹57.25). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 88.7
P/S ratio 7.59 P/E × margin
EPS (TTM) ₹32.22 price ÷ EPS = P/E 88.7
Dividend yield 0.4% payout 31.0%
Net margin 8.6% FY2026
Return on equity 27.1% TTM
More key figures
Profitability
Return on assets (EBIT) 28.9% avg 5y
Operating margin 11.1% TTM
Growth
Revenue (TTM) ₹201B TTM
Revenue growth (YoY) +19.2% 3y avg +34.5%
EPS growth (YoY) +25.8%
Balance sheet & cash flow
Free cash flow ₹9.0B FY2026
Net debt ₹22.8B FY2026 · ≈ 2.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 50

Profitability 82
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 82
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

Trent Limited engages in the retailing and trading of apparels, footwear, accessories, food, grocery, and non-food products in India.

Full company description

Trent Limited engages in the retailing and trading of apparels, footwear, accessories, food, grocery, and non-food products in India. The company provides apparel, footwear, and accessories for men, women, and children, as well as furnishings, decor, and a range of home accessories under the Westside brand; apparels and footwear for men, women, and children under the Zudio brand; apparel, footwear, innerwear, beauty, and accessories for women under the Utsa brand; and luxurious, differentiated, and elevated occasion wear for men and women under the Samoh brand. It also operates Star Hypermarket, a convenience store chain that offers a range of products, including staple foods, beverages, health and beauty products, apparel, home furnishings, vegetables, fruits, dairy, and non-vegetarian products; and Booker Wholesale, a cash and carry chain of stores, which provides various products, such as staple foods, beverages, health and beauty products, dairy, non-vegetarian products, and non-food products to caterers, retailers, and other businesses. In addition, the company engages in the operation of StarQuik for online grocery retailing. Further, it operates a youth-focused fashion brand under the Burnt Toast brand name. Additionally, the company engages in the provision of business support and outsourcing services relating to accounting, merchandising, human resources, payroll, sourcing, warehousing, distribution, etc.; franchisee business; invest and deploy funds related to acquisition, purchase, development, construction, leasing, sale, or otherwise dealing in real estate properties; and investment activities. It offers its products online through Westside.com, Tata CliQ, and Tata Neu, as well as My Star App. Trent Limited was incorporated in 1952 and is based in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Trent Limited reported revenue of ₹201B in FY2026 versus ₹45.0B in FY2022, a compound +45.3%/yr. Reported net income was ₹17.2B in FY2026, compounding +100.8%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹201B
Latest YoY
+17.2%
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.
+34.5%
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.
+50.6%
Avg. revenue growth/yr (21Y) 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.
+23.6%
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.
+71.9% (71.5 + 0.4)
Revenue +45.3%/yr
FY22 ₹45.0B
FY23 ₹82.4B
FY24 ₹124B
FY25 ₹171B
FY26 ₹201B
Net income +100.8%/yr
FY22 ₹1.1B
FY23 ₹4.4B
FY24 ₹14.9B
FY25 ₹15.5B
FY26 ₹17.2B
Character of growth · EPS growth decomposed (2015-2026) +36.6 % p.a.
Revenue per share +26.3 %

of which total revenue +27.2 % · buybacks/dilution −0.7 %

EBIT margin −1.2 %
Tax rate +1.9 %
Residual (interest, one-offs) +7.4 %

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).

TRENT screens 123% overvalued. Compare with Industria de Diseño Textil, S.A →

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Cite: Fair Value Calculator (2026). "Trent Limited Fair Value". https://www.fairvalue-calculator.com/stock/TRENT

Peer Group

Apparel Retail · 103 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 63 · Above median
Fair Value upside −55% · Bottom 25%
Return on equity (TTM) 27% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 11% · Top 25%
Revenue growth 19% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Apparel Retail median · lower = cheaper

P/E (TTM) 88.7× · Pricier than 75% of peers
P/B 22.16× · Pricier than 75% of peers
P/S (TTM) 7.71× · Pricier than 75% of peers
P/FCF 1.8× · Cheaper than median
EV/EBITDA 55.9× · 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 28
FUTURE96 · sector 19
PAST100 · sector 29
HEALTH100 · sector 100
DIVIDEND7 · sector 59

VALUE 0: the price sits above our fair-value range.

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 Apparel Retail stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
Industria de Diseño Textil, S.A ITX 240.90 PLN 189.78 PLN −21%
The TJX Companies, Inc TJX $135.12 $84.95 −37%
Fast Retailing Co 6288 HK$37.20 HK$15.24 −59%
Ross Stores, Inc ROST $228.55 $118.41 −48%
Burlington Stores, Inc BURL $258.56 $143.65 −44%
lululemon athletica inc., LULU $120.81 $299.63 +148%
Aritzia Inc ATZ C$140.07 C$70.30 −50%
The Gap, Inc GAP $20.60 $36.44 +77%
Urban Outfitters, Inc URBN $82.95 $92.88 +12%
Boot Barn Holdings BOOT $160.74 $128.55 −20%

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Frequently asked questions

Is Trent Limited (TRENT) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of ₹1,277 versus a price of ₹2,853, about −55% upside (overvalued).
What is the fair value of TRENT?
Our model-based fair value for Trent Limited is ₹1,277 (as of Aug 14, 2026), built from audited fundamentals. The current price: ₹2,853.
What is the quality score of TRENT?
Trent Limited has a Quality Score of 63/100. 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 Trent Limited (TRENT)?
Trent Limited reported trailing-twelve-month revenue of about ₹201B (latest available figure, as of Aug 14, 2026).
What is the net profit margin of TRENT?
The net profit margin of Trent Limited is about 8.6%, meaning it keeps roughly 8.6% of revenue as net income. Based on the latest reported figures.
Does Trent Limited pay a dividend?
Trent Limited currently shows a dividend yield of about 0.35% relative to its recent price (as of Aug 14, 2026).
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