Which stock is cheaper: BEL or HAL?

Based on Price to Earnings, BEL trades at a P/E of 46.2 while HAL trades at a P/E of 35.2.

Does BEL or HAL have higher ROCE?

BEL generates an ROCE of 42.8% compared to HAL's ROCE of 8.8%.

BHARAT ELECTRONICS LTD (BEL) has a market cap of ₹2,95,571 Cr compared to HINDUSTAN AERONAUTICS LTD (HAL) with ₹3,28,034 Cr.

BELIndustrials

Leads (4/5)

₹369.90-0.03%

Market Cap: ₹2,95,571 Cr

HALIndustrials

₹4,853.70-0.33%

Market Cap: ₹3,28,034 Cr

Automated quantitative breakdown of fundamental strengths between BEL and HAL.

Attractive ValuationHAL (P/E 35.2)Trades at lower Price-to-Earnings

Capital EfficiencyBEL (ROCE 42.8%)Superior operating return on capital

Balance Sheet SafetyBELLower debt-to-equity ratio

Shareholder YieldBEL (17.30%)Higher annual dividend yield

Green highlight indicates the stronger metric

Financial Metric	BEL	HAL
Valuation Multiples
Market Capitalization	₹2,95,571 Cr	₹3,28,034 Cr
Price to Earnings (P/E)	46.17	35.19
Price to Book (P/B)	12.47	N/A
Profitability & Capital Efficiency
Return on Capital Employed (ROCE)	42.83%	8.84%
Return on Equity (ROE)	22.75%	N/A
Operating Profit Margin (OPM)	28.47%	36.81%
Net Profit Margin (NPM)	22.31%	30.10%
Balance Sheet & Solvency
Debt to Equity Ratio	0.00	0.03
Dividend Yield	17.30%	0.91%
Historical Growth
3-Year Sales Growth (CAGR)	19.82%	-14.49%
Latest Quarter Financial Results
Quarterly Revenue (30 Jun 2026)	₹5,547 Cr	₹5,515 Cr
Quarterly Net Profit	₹1,054 Cr	₹1,590 Cr