Hdfc Bk Ltd Financials
Hdfc Bk Ltd (HDB) reported $25.6B in revenue for fiscal year 2025, up 15.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2024’s balance-sheet expansion made HDFC Bank much larger, but returns on assets and equity still trail its pre-jump efficiency.
After the FY2024 step-change in size, equity, shares outstanding, and goodwill all moved to a much higher base than profit growth could initially absorb, pointing to a structural reset in the bank’s earning base rather than a simple cyclical fluctuation. That is why ROE fell from17.0% to8.8% even though net income kept rising: the bank became bigger faster than it became equally productive.
Operating cash flow stayed ahead of net income; most recently it was
Cash and equivalents were just
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hdfc Bk Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hdfc Bk Ltd passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Hdfc Bk Ltd generates $1.78 in operating cash flow ($14.0B OCF vs $7.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Hdfc Bk Ltd generated $25.6B in revenue in fiscal year 2025. This represents an increase of 15.2% from the prior year.
Hdfc Bk Ltd reported $7.9B in net income in fiscal year 2025. This represents an increase of 5.5% from the prior year.
Hdfc Bk Ltd earned $1.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.0% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Hdfc Bk Ltd generated $13.2B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 13.7% from the prior year.
Hdfc Bk Ltd held $23.2B in cash against $68.7B in long-term debt as of fiscal year 2025.
Hdfc Bk Ltd paid $0.26 per share in dividends in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Margins & Returns
Hdfc Bk Ltd's net profit margin was 30.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.8 percentage points from the prior year.
Hdfc Bk Ltd's ROE was 8.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Hdfc Bk Ltd invested $777.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 20.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
HDB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.6B+15.2% | $22.2B+61.6% | $13.8B+17.0% | $11.8B+10.0% | $10.7B+19.6% | $8.9B+3.9% | $8.6B+10.3% | $7.8B+19.4% | $6.5B+17.9% | $5.5B+15.6% | $4.8B+17.1% | $4.1B+6.7% | $3.8B+14.3% | $3.4B+2.9% | $3.3B |
| SG&A Expenses | $3.5B+1.1% | $3.5B+42.6% | $2.4B+11.5% | $2.2B+10.8% | $2.0B+13.5% | $1.7B+14.4% | $1.5B-0.2% | $1.5B+5.7% | $1.4B+10.6% | $1.3B+20.8% | $1.1B+12.0% | $959.2M-3.1% | $989.6M+10.0% | $899.8M+5.8% | $850.1M |
| Interest Expense | $21.3B+16.0% | $18.4B+95.1% | $9.4B+22.5% | $7.7B-4.9% | $8.1B-1.3% | $8.2B+6.2% | $7.7B+19.7% | $6.5B+12.0% | $5.8B+14.6% | $5.0B+18.4% | $4.2B+11.0% | $3.8B+6.0% | $3.6B+21.5% | $3.0B+41.0% | $2.1B |
| Income Tax | $2.0B+119.4% | $933.9M-53.8% | $2.0B+15.7% | $1.7B+12.3% | $1.6B+11.2% | $1.4B-19.0% | $1.7B+14.4% | $1.5B+23.5% | $1.2B+19.8% | $1.0B+16.5% | $875.0M+24.1% | $705.1M+28.8% | $547.3M+16.9% | $468.2M-3.9% | $487.2M |
| Net Income | $7.9B+5.5% | $7.5B+23.9% | $6.0B+18.5% | $5.1B+14.1% | $4.5B+29.1% | $3.5B+8.5% | $3.2B+16.1% | $2.7B+26.5% | $2.2B+21.7% | $1.8B+11.8% | $1.6B+20.5% | $1.3B+16.6% | $1.1B+15.9% | $978.3M+5.8% | $924.9M |
| EPS (Diluted) | $1.04-1.0% | $1.05-1.9% | $1.07+17.6% | $0.91+13.7% | $0.80+29.0% | $0.62 | $1.18+12.4% | $1.05+25.0% | $0.84+20.0% | $0.70+7.7% | $0.65+20.4% | $0.54+14.9% | $0.47+14.6% | $0.41+5.1% | $0.39 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.
HDB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $564.1B+6.6% | $529.4B+68.9% | $313.4B+12.6% | $278.3B+13.2% | $245.8B+16.1% | $211.7B+10.3% | $192.0B+10.0% | $174.6B+24.9% | $139.8B+19.7% | $116.8B+16.3% | $100.4B+17.6% | $85.4B+6.6% | $80.2B+14.2% | $70.2B+7.0% | $65.6B |
| Cash & Equivalents | $23.2B-4.9% | $24.4B+46.7% | $16.6B+21.9% | $13.7B+11.3% | $12.3B+46.6% | $8.4B-14.2% | $9.7B+10.5% | $8.8B+33.3% | $6.6B+13.6% | $5.8B+13.1% | $5.1B-13.5% | $6.0B+63.2% | $3.6B+5.7% | $3.4B-39.2% | $5.7B |
| Goodwill | $19.1B0.0% | $19.1B+2021.0% | $899.3M0.0% | $899.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.7B |
| Total Liabilities | $463.1B+6.5% | $434.8B+56.5% | $277.9B+13.3% | $245.2B+13.4% | $216.2B+15.9% | $186.6B+10.8% | $168.4B+7.6% | $156.5B+26.3% | $124.0B+19.6% | $103.6B+17.3% | $88.4B+15.5% | $76.5B+7.0% | $71.5B+14.7% | $62.4B+8.0% | $57.8B |
| Long-Term Debt | $68.7B-13.9% | $79.8B+219.2% | $25.0B+22.0% | $20.5B+27.5% | $16.1B+18.0% | $13.6B-9.8% | $15.1B+5.4% | $14.3B+27.1% | $11.3B | N/A | $7.3B+11.6% | $6.6B+21.6% | $5.4B+54.5% | $3.5B+67.3% | $2.1B |
| Total Equity | $89.9B+7.8% | $83.4B+135.3% | $35.4B+7.3% | $33.0B+11.8% | $29.5B+17.6% | $25.1B+6.4% | $23.6B+30.9% | $18.0B+14.0% | $15.8B+20.6% | $13.1B+9.0% | $12.0B+35.8% | $8.9B+3.2% | $8.6B+10.7% | $7.8B-0.2% | $7.8B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | $8.5B+19.4% | $7.1B+26.5% | $5.6B+28.2% | $4.4B+19.4% | $3.7B+25.8% | $2.9B+19.8% | $2.4B+24.2% | $2.0B+21.4% | $1.6B |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.
HDB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.0B+14.1% | $12.3B+111.3% | $5.8B-24.2% | $7.7B-39.2% | $12.6B+455.0% | $2.3B-14.3% | $2.6B+83.0% | $1.4B-75.2% | $5.8B+127.8% | $2.6B+46.3% | $1.8B-17.2% | $2.1B+61.6% | $1.3B+78.0% | $736.6M-34.5% | $1.1B |
| Capital Expenditures | $777.2M+20.3% | $646.0M+21.7% | $530.7M+52.9% | $347.0M+42.5% | $243.5M+0.3% | $242.7M+2.6% | $236.5M+67.7% | $141.0M-27.6% | $194.7M+29.2% | $150.7M+5.3% | $143.1M-11.7% | $162.1M-11.6% | $183.3M+17.7% | $155.7M+18.9% | $131.0M |
| Free Cash Flow | $13.2B+13.7% | $11.6B+120.3% | $5.3B-27.8% | $7.3B-40.8% | $12.4B+509.4% | $2.0B-16.0% | $2.4B+84.7% | $1.3B-76.9% | $5.7B+134.0% | $2.4B+49.9% | $1.6B-17.6% | $2.0B+73.5% | $1.1B+94.2% | $580.9M-41.6% | $994.3M |
| Investing Cash Flow | -$43.5B+1.3% | -$44.1B+17.5% | -$53.4B-22.8% | -$43.5B-26.3% | -$34.5B-20.8% | -$28.5B-28.4% | -$22.2B+29.4% | -$31.5B | N/A | N/A | N/A | N/A | -$12.6B+0.7% | -$12.7B-20.8% | -$10.5B |
| Financing Cash Flow | $28.3B-29.5% | $40.2B-20.9% | $50.8B+32.3% | $38.4B+46.3% | $26.2B+7.1% | $24.5B+11.6% | $21.9B-31.9% | $32.2B | N/A | N/A | N/A | N/A | $11.8B+19.4% | $9.9B+7.8% | $9.2B |
| Dividends Paid | $1.9B+78.0% | $1.0B-1.1% | $1.1B+120.1% | $477.6M+20665.2% | $2.3M-99.7% | $881.4M+48.6% | $593.0M+12.0% | $529.7M+17.3% | $451.5M+22.8% | $367.8M+18.8% | $309.7M+20.9% | $256.2M+18.5% | $216.2M+23.0% | $175.8M+21.6% | $144.6M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $2.2M | $0 | $0-100.0% | $11.5M-69.6% | $37.8M | N/A | N/A | N/A |
HDB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 30.8%-2.8pp | 33.6%-10.2pp | 43.8%+0.6pp | 43.3%+1.6pp | 41.7%+3.1pp | 38.6%+1.6pp | 37.0%+1.9pp | 35.1%+2.0pp | 33.1%+1.1pp | 32.1%-1.1pp | 33.2%+0.9pp | 32.3%+2.8pp | 29.5%+0.4pp | 29.1%+0.8pp | 28.3% |
| Return on Equity | 8.8%-0.2pp | 9.0%-8.1pp | 17.0%+1.6pp | 15.4%+0.3pp | 15.1%+1.3pp | 13.8%+0.3pp | 13.5%-1.7pp | 15.2%+1.5pp | 13.7%+0.1pp | 13.6%+0.3pp | 13.2%-1.7pp | 14.9%+1.7pp | 13.2%+0.6pp | 12.6%+0.7pp | 11.9% |
| Return on Assets | 1.4%0.0pp | 1.4%-0.5pp | 1.9%+0.1pp | 1.8%0.0pp | 1.8%+0.2pp | 1.6%0.0pp | 1.7%+0.1pp | 1.6%0.0pp | 1.6%0.0pp | 1.5%-0.1pp | 1.6%0.0pp | 1.6%+0.1pp | 1.4%0.0pp | 1.4%0.0pp | 1.4% |
| Debt-to-Equity | 0.76-0.2x | 0.96+0.3x | 0.71+0.1x | 0.62+0.1x | 0.540.0x | 0.54-0.1x | 0.64-0.2x | 0.79+0.1x | 0.71-7.2x | 7.90+7.3x | 0.61-0.1x | 0.74+0.1x | 0.63+0.2x | 0.45+0.2x | 0.27 |
| FCF Margin | 51.6%-0.7pp | 52.2%+13.9pp | 38.3%-23.8pp | 62.2% | 115.5% | 22.7%-5.4pp | 28.0%+11.3pp | 16.7%-69.7pp | 86.4%+42.9pp | 43.5%+10.0pp | 33.6%-14.2pp | 47.7%+18.4pp | 29.3%+12.1pp | 17.3%-13.2pp | 30.4% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
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Where Hdfc Bk Ltd Ranks
Frequently Asked Questions
What is Hdfc Bk Ltd's annual revenue?
Hdfc Bk Ltd (HDB) reported $25.6B in total revenue for fiscal year 2025. This represents a 15.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hdfc Bk Ltd's revenue growing?
Hdfc Bk Ltd (HDB) revenue grew by 15.2% year-over-year, from $22.2B to $25.6B in fiscal year 2025.
Is Hdfc Bk Ltd profitable?
Yes, Hdfc Bk Ltd (HDB) reported a net income of $7.9B in fiscal year 2025, with a net profit margin of 30.8%.
How much debt does Hdfc Bk Ltd have?
As of fiscal year 2025, Hdfc Bk Ltd (HDB) had $23.2B in cash and equivalents against $68.7B in long-term debt.
What is Hdfc Bk Ltd's net profit margin?
Hdfc Bk Ltd (HDB) had a net profit margin of 30.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Hdfc Bk Ltd pay dividends?
Yes, Hdfc Bk Ltd (HDB) paid $0.26 per share in dividends during fiscal year 2025.
What is Hdfc Bk Ltd's return on equity (ROE)?
Hdfc Bk Ltd (HDB) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hdfc Bk Ltd's free cash flow?
Hdfc Bk Ltd (HDB) generated $13.2B in free cash flow during fiscal year 2025. This represents a 13.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hdfc Bk Ltd's operating cash flow?
Hdfc Bk Ltd (HDB) generated $14.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hdfc Bk Ltd's total assets?
Hdfc Bk Ltd (HDB) had $564.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hdfc Bk Ltd's capital expenditures?
Hdfc Bk Ltd (HDB) invested $777.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Hdfc Bk Ltd's debt-to-equity ratio?
Hdfc Bk Ltd (HDB) had a debt-to-equity ratio of 0.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hdfc Bk Ltd's return on assets (ROA)?
Hdfc Bk Ltd (HDB) had a return on assets of 1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hdfc Bk Ltd's Piotroski F-Score?
Hdfc Bk Ltd (HDB) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hdfc Bk Ltd's earnings high quality?
Hdfc Bk Ltd (HDB) has an earnings quality ratio of 1.78x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Hdfc Bk Ltd?
Hdfc Bk Ltd (HDB) scores 70 out of 100 on our Financial Health Score, indicating strong standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.