Which stock is cheaper: HDFCBANK or ICICIBANK?

Based on Price to Earnings, HDFCBANK trades at a P/E of 13.2 while ICICIBANK trades at a P/E of 16.6.

Does HDFCBANK or ICICIBANK have higher ROCE?

HDFCBANK generates an ROCE of 32.4% compared to ICICIBANK's ROCE of 73.9%.

HDFC BANK LTD (HDFCBANK) has a market cap of ₹10,91,701 Cr compared to ICICI BANK LTD. (ICICIBANK) with ₹9,90,020 Cr.

HDFCBANKFinancial Services

₹692.80+1.39%

Market Cap: ₹10,91,701 Cr

ICICIBANKFinancial Services

Leads (3/5)

₹1,398.00+0.82%

Market Cap: ₹9,90,020 Cr

Automated quantitative breakdown of fundamental strengths between HDFCBANK and ICICIBANK.

Attractive ValuationHDFCBANK (P/E 13.2)Trades at lower Price-to-Earnings

Capital EfficiencyICICIBANK (ROCE 73.9%)Superior operating return on capital

Balance Sheet SafetyICICIBANKLower debt-to-equity ratio

Shareholder YieldHDFCBANK (25.98%)Higher annual dividend yield

Green highlight indicates the stronger metric

Financial Metric	HDFCBANK	ICICIBANK
Valuation Multiples
Market Capitalization	₹10,91,701 Cr	₹9,90,020 Cr
Price to Earnings (P/E)	13.23	16.57
Price to Book (P/B)	4.51	N/A
Profitability & Capital Efficiency
Return on Capital Employed (ROCE)	32.42%	73.94%
Return on Equity (ROE)	32.02%	36.75%
Operating Profit Margin (OPM)	N/A	N/A
Net Profit Margin (NPM)	N/A	41.28%
Balance Sheet & Solvency
Debt to Equity Ratio	2.74	1.39
Dividend Yield	25.98%	6.65%
Historical Growth
3-Year Sales Growth (CAGR)	-100.00%	-21.22%
Latest Quarter Financial Results
Quarterly Revenue (30 Jun 2026)	N/A	₹38,366 Cr
Quarterly Net Profit	₹20,383 Cr	₹15,440 Cr