EPS kya hai, kaise calculate hota hai, kaise use karein stock analysis mein — complete Hindi guide.
Published by The Retail Trader · AUG 05, 2026 · Features
EPS kya hai, kaise calculate hota hai, kaise use karein stock analysis mein — complete Hindi guide.
EPS ka full form hai Earnings Per Share. Ye batata hai ki company ne per share kitna profit kamaya hai.
EPS = Net Profit / Total Shares Outstanding
Simple definition: > EPS = Company ka total profit ÷ Kitne shares hain. Matlab har ek share pe kitna profit aaya.
Example:
• TCS ka net profit: ₹45,000 crore (annual)
• TCS ke total shares: 365 crore
• EPS: ₹45,000 / 365 = ₹123 per share
Matlab: Har TCS ke share ne ₹123 ka profit generate kiya.
Ye chaar baatein dhyaan mein rakho:
• EPS badh raha hai — Meaning: Company ka profit grow ho raha hai, Action: Bullish signal ✅
• EPS ghir raha hai — Meaning: Company ka profit kam ho raha hai, Action: Bearish signal ❌
• EPS stable hai — Meaning: Company consistent hai, Action: Neutral
• EPS negative hai — Meaning: Company loss mein hai, Action: Caution ⚠️
EPS ka YEAR-OVER-YEAR growth zyada important hai than absolute EPS:
EPS Growth Rate = (Current EPS - Previous EPS) / Previous EPS × 100
Ye paanch baatein dhyaan mein rakho:
• > 20% — High growth 🔥
• 10-20% — Good growth
• 5-10% — Moderate growth
• 0-5% — Slow growth
• Negative — Declining ❌
1. Trailing EPS (TTM):
• Based on: Last 4 quarters
• Use: Most common, backward-looking
• Formula: Sum of last 4 quarters' EPS
2. Forward EPS:
• Based on: Analyst estimates for next 12 months
• Use: Forward-looking, growth expectations
• Formula: Estimated future EPS
3. Reported EPS:
• Based on: GAAP accounting standards
• Use: Official numbers (can include one-time items)
4. Adjusted EPS:
• Based on: Excluding one-time items
• Use: Core business performance (more useful)
PE Ratio = Stock Price / EPS
Example:
• TCS price: ₹3,800
• TCS EPS: ₹123
• PE Ratio: ₹3,800 / ₹123 = 30.9x
Matlab:
• EPS badhega → PE girega (assuming price same) → Stock sasta lagega
• EPS girega → PE badhega → Stock mehenga lagega
Ye connection bahut important hai — EPS growth directly PE ratio ko affect karta hai.
Fair Value Calculation:
• Fair Price = EPS × Industry Average PE
• Example:
• Company EPS: ₹50
• Industry PE: 20
• Fair Price: ₹50 × 20 = ₹1,000
• Agar stock ₹800 pe hai → Undervalued (20% discount)
• Agar stock ₹1,200 pe hai → Overvalued (20% premium)
PEG Ratio (EPS + PE Combined):
• PEG = PE Ratio / EPS Growth Rate
• Example:
• PE = 25, EPS Growth = 20%
• PEG = 25 / 20 = 1.25
• PEG < 1 = Undervalued
• PEG 1-2 = Fair value
• PEG > 2 = Overvalued
Agar EPS badh raha hai lekin revenue flat hai → Cost cutting se profit badha hai. Ye sustainable nahi hota long-term.
Company ne property bech di → EPS ek baar badha. Next year wapas girega. Adjusted EPS dekho.
Company apne shares buy back karti hai → Shares kam → EPS automatically badhta hai even if profit same hai.
Company loss mein hai toh EPS negative hoga. Ye sab stocks avoid karo unless turnaround story hai.
Ye baatein dhyaan mein rakho:
• 📌 EPS QUICK REFERENCE
• FORMULA:
• 📊 EPS = Net Profit / Total Shares Outstanding
• 📊 PEG = PE / EPS Growth Rate
• 📊 Fair Price = EPS × Industry PE
• EPS TREND:
• 📊 Growing → Company profitable, bullish
• 📊 Declining → Profitability weakening, bearish
• 📊 Stable → Consistent, neutral
• 📊 Negative → Loss-making, caution
• EPS GROWTH:
• 📊 > 20% = High growth 🔥
• 📊 10-20% = Good growth
• 📊 5-10% = Moderate
• 📊 < 5% = Slow
• 📊 Negative = Declining ❌
• VALUATION:
• 📊 Fair Price = EPS × Industry PE
• 📊 PEG < 1 = Undervalued
• 📊 PEG 1-2 = Fair
• 📊 PEG > 2 = Overvalued
• RED FLAGS:
• ❌ EPS growth without revenue growth
• ❌ One-time gains boosting EPS
• ❌ Buybacks artificially boosting EPS
• ❌ Negative EPS without turnaround story
Ye chaar baatein dhyaan mein rakho:
• PE Ratio Kya Hai?
• Market Cap Kya Hai?
• Dividend Kya Hai?
• Fundamental Analysis Guide
The Retail Trader — educational market analysis. Not investment advice.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.