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Jio Financial Services Limited
(JIOFIN)
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Rating:59Neutral
Price Target:
₹242.00
▲(2.48% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily supported by solid reported profitability and a conservatively positioned balance sheet, but is held back by low ROE and a history of highly inconsistent cash generation. Technically, the stock shows positive momentum but is somewhat extended (high Stochastic/upper-range RSI). Valuation is the largest drag due to the very high P/E and minimal dividend yield.
Positive Factors
Accelerating Revenue Growth
FY2026 revenue growth of 36.8% indicates stronger recent expansion after a flat FY2025, improving the platform’s scale and potential to spread technology and distribution costs. If sustained, this growth can support broader customer adoption and greater operating leverage over the next several quarters.
Negative Factors
Low Return on Equity
FY2026 ROE of about 1.2% shows that the large equity base is generating only modest shareholder returns. Unless profitability improves relative to capital employed, expansion may not translate efficiently into value creation and the company’s ability to compound returns will remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
FY2026 revenue growth of 36.8% indicates stronger recent expansion after a flat FY2025, improving the platform’s scale and potential to spread technology and distribution costs. If sustained, this growth can support broader customer adoption and greater operating leverage over the next several quarters.
Read all positive factors
Jio Financial Services Limited (JIOFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.53T
Dividend Yield0.26%
Average Volume (3M)1.07M
Price to Earnings (P/E)71.6
Beta (1Y)1.56
Revenue Growth116.07%
EPS Growth25.76%
CountryIN
Employees2,000
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)3.21
Shares Outstanding6,603,141,600
10 Day Avg. Volume984,820
30 Day Avg. Volume1,066,621
Financial Highlights & Ratios
PEG Ratio-28.92
Price to Book (P/B)1.06
Price to Sales (P/S)40.14
P/FCF Ratio133.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹283.67Price Target Upside20.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)3.3
Revenue Forecast (FY)₹44.09B
Jio Financial Services Limited Business Overview & Revenue Model
Company Description
Jio Financial Services Limited is an Indian non-banking financial company that provides digital financial products and services without accepting deposits. Established in 1999 and based in Mumbai, India, the company previously operated as Reliance...
How the Company Makes Money
Jio Financial Services’ revenue model is based on generating income from financial services activities conducted through its subsidiaries and platforms. Key potential revenue streams for a company of this type typically include: (1) interest incom...
Jio Financial Services Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.28B | 35.43B | 17.67B | 17.98B | 234.80M | 1.90B |
| Gross Profit | 37.98B | 27.39B | 17.20B | 17.50B | 234.80M | 1.90B |
| EBITDA | 24.95B | 19.41B | 19.77B | 19.88B | 493.40M | 1.77B |
| Net Income | 20.66B | 15.61B | 16.13B | 16.05B | 312.50M | 1.68B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.63T | 1.34T | 1.45T | 1.15T | 222.81M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 35.98B | 118.25B | 165.84B | 163.41B | 51.00K |
| Total Debt | 0.00 | 217.68B | 39.70B | 0.00 | 14.86B | 0.00 |
| Total Liabilities | -1.34T | 296.43B | 100.13B | 57.15B | 8.09B | 909.00K |
| Stockholders Equity | 1.34T | 1.34T | 1.23T | 1.39T | 1.14T | 222.80M |
Cash Flow | ||||||
| Free Cash Flow | -46.64B | 10.63B | -101.25B | -6.78B | 20.55B | 12.30M |
| Operating Cash Flow | -46.15B | 11.69B | -100.83B | -6.78B | 20.55B | 12.30M |
| Investing Cash Flow | -55.54B | -223.70B | 64.06B | 14.41B | -11.66B | -12.29M |
| Financing Cash Flow | 98.80B | 214.54B | 39.62B | -7.53B | -8.89B | 0.00 |
Jio Financial Services Limited Technical Analysis
Negative
236.15
Price Trends
242.64
Negative
241.03
Negative
254.12
Negative
Market Momentum
-3.91
Positive
32.35
Neutral
15.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JIOFIN, the sentiment is Negative. The current price of 236.15 is below the 20-day moving average (MA) of 239.04, below the 50-day MA of 242.64, and below the 200-day MA of 254.12, indicating a bearish trend. The MACD of -3.91 indicates Positive momentum. The RSI at 32.35 is Neutral, neither overbought nor oversold. The STOCH value of 15.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JIOFIN.
Jio Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹1.05T | 28.08 | ― | 2.24% | 10.92% | 12.99% | |
77 Outperform | ₹760.38B | 46.31 | ― | 1.80% | 18.20% | 20.56% | |
73 Outperform | ₹366.06B | 78.74 | ― | 0.29% | 37.46% | 45.11% | |
71 Outperform | ₹315.04B | 31.81 | ― | 2.32% | 2.41% | 3.48% | |
59 Neutral | ₹1.53T | 71.62 | ― | 0.26% | 116.07% | 25.76% | |
58 Neutral | ₹446.69B | 35.05 | ― | 1.10% | 28.01% | 12.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:JIOFIN
Jio Financial Services Limited
230.00
-80.42
-25.91%
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Jio Financial Services Limited Corporate Events
Jio Financial Services details third post-listing AGM proceedings and governance practices
Aug 26, 2026
Jio Financial Services Limited operates in India’s financial services industry, delivering digital-first financial solutions and maintaining listings on both the BSE and NSE under the symbol JIOFIN. The company is focused on strong governanc...
Jio Financial Appoints Key Executives to Oversee Regulatory Disclosures
Jun 24, 2026
Jio Financial Services Limited has designated its Managing Director and Chief Executive Officer, Hitesh Sethia, along with Group Chief Financial Officer Annapoorna Venkataramanan and Group Company Secretary and Compliance Officer Mohana V, as the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.