Hero MotoCorp Share Price: 19.8% CAGR in 3 Years as the Motorcycle Leader Faces TVS Motor and Eicher Motors
- November 12, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Hero MotoCorp Share Price: 19.8% CAGR in 3 Years as the Motorcycle Leader Faces TVS Motor and Eicher Motors
Hero MotoCorp previous close Rs 5,345. 3-year CAGR 19.8%. Up 1.7x since 10 Nov 2023. ROE 25.64%. Market cap Rs 1,06,886 crore.
Quick Answer
The Hero MotoCorp share price closed at Rs 5,345 on 11 November 2026, a compounded annual return of 19.8% over three years. That compares with Eicher Motors at 28.9% and TVS Motor Company at 40.8%. The company has a market cap of Rs 1,06,886 crore and a P/E of 17.73 against an industry P/E of 25.73.
The Hero MotoCorp share price has delivered a steady return over three years while the stock continues to trade at one of the lowest P/E ratios in the two-wheeler space. Hero MotoCorp, based in New Delhi, is one of the largest two-wheeler makers in the world by volume and sells mainly motorcycles and scooters.
This article compares that run with TVS Motor Company and Eicher Motors. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions, so that readers get a like-for-like view.
Click Here – Get Free Investment Predictions
How Much Has the Hero MotoCorp Share Price Returned in 3 Years?
The Hero MotoCorp stock closed at Rs 3,105.20 on 10 November 2023 and at Rs 5,345.00 on 11 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.72 lakh, which is a CAGR of 19.8%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Hero MotoCorp can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Hero MotoCorp share price has also followed the recovery in rural demand, the steady replacement cycle for entry-level motorcycles and growing interest in the company’s electric scooter range.
Hero MotoCorp vs Eicher Motors and TVS Motor Company: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 11 November 2026.
| Company | Close on 10 Nov 2023 | Previous close (11 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| TVS Motor Company | Rs 1,631.95 | Rs 4,560.00 | 2.8x | 40.8% |
| Eicher Motors | Rs 3,540.75 | Rs 7,592.00 | 2.1x | 28.9% |
| Hero MotoCorp | Rs 3,105.20 | Rs 5,345.00 | 1.7x | 19.8% |
The Hero MotoCorp stock ranks third of the three at 19.8%. The companies ahead are TVS Motor Company (40.8%) and Eicher Motors (28.9%). TVS Motor leads the group, followed by Eicher Motors and then Hero MotoCorp. Hero MotoCorp is the smallest of the three by market cap, but it trades at the lowest P/E and its ROE sits between the other two.
Look at the Hero MotoCorp share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| TVS Motor Company | Rs 2,16,640 crore | 54.32 | 25.73 | 33.72% | 3.48 |
| Eicher Motors | Rs 2,09,186 crore | 36.24 | 25.70 | 21.97% | 0.02 |
| Hero MotoCorp | Rs 1,06,886 crore | 17.73 | 25.73 | 25.64% | 0.06 |
By market cap, TVS Motor Company is the largest of the group at Rs 2,16,640 crore, while the Hero MotoCorp stock stands at Rs 1,06,886 crore, about 49% of that size. On earnings, Hero MotoCorp shares trade at a P/E of 17.73 against an industry P/E of 25.73, a discount of about 31% to the sector, which leaves room if earnings keep growing. Peer multiples are Eicher Motors at 36.24 and TVS Motor Company at 54.32.
Return on equity is 25.64% for the Hero MotoCorp stock, which ranks second among the three, and debt to equity stands at 0.06. Trailing EPS is Rs 301.13. Two-wheeler makers are valued on volume growth and margins, so the P/E should be read together with return on equity, dividend payouts and the debt position.
What Is Driving the Hero MotoCorp Stock?
Hero MotoCorp sells commuter motorcycles, premium motorcycles and scooters across India and in several export markets. Its wide dealer and service network gives it a strong reach in smaller towns and villages.
The company has also started selling electric scooters and is building a charging and service network. Its balance sheet carries very little debt, and the business generates a high return on equity for a manufacturer.
Followers of the Hero MotoCorp share price usually track monthly dispatch numbers, rural demand, the share of premium motorcycles in the mix and progress in electric vehicles.
How the Established Players Stack Up
Eicher Motors is a Royal Enfield parent that sells mid-sized motorcycles in India and abroad and also holds a joint venture in commercial vehicles. It compounded at 28.9% a year, on a market cap of Rs 2,09,186 crore and an ROE of 21.97%.
TVS Motor Company is a Chennai-based maker of motorcycles, scooters, mopeds and three-wheelers, with a growing presence in exports and electric vehicles. It compounded at 40.8% a year, on a market cap of Rs 2,16,640 crore and an ROE of 33.72%.
What Should Investors Track Next?
Three things are worth watching on the Hero MotoCorp share price. First, monthly volume trends in motorcycles and scooters. Second, the pace at which premium models add to the mix. Third, the growth of electric scooter sales.
At a P/E of 18, the stock trades well below the industry P/E of 26, and its debt to equity of 0.06 is very low. Demand can shift with fuel prices and festive buying, so follow monthly numbers closely.
Check the Univest Screener for live fundamentals of two-wheeler stocks
How to Compare Two-Wheeler Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Hero MotoCorp stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Hero MotoCorp share price, the same four checks give a more complete picture than price alone.
Download the Univest iOS App or Univest Android App to track the Hero MotoCorp share price and compare auto stocks live.
A Two-Wheeler Leader With the Lowest P/E in the Group
The Hero MotoCorp share price compounded at 19.8% a year over three years, behind Eicher Motors at 28.9% and TVS Motor at 40.8%. Its P/E of 17.73 is the lowest of the three and its ROE is 25.64%.
TVS Motor brings the fastest return and the highest ROE, while Eicher Motors brings a premium motorcycle focus. The choice depends on whether you prefer a lower multiple or faster growth.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Hero MotoCorp share price today?
Ans. Hero MotoCorp closed at Rs 5,345 on 11 November 2026, according to NSE data. It has a market cap of Rs 1,06,886 crore and a P/E of 17.73. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Hero MotoCorp stock?
Ans. Hero MotoCorp delivered a price CAGR of 19.8% over three years, moving from Rs 3,105.20 on 10 November 2023 to Rs 5,345.00 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Hero MotoCorp better than TVS Motor?
Ans. TVS Motor delivered a higher three-year CAGR at 40.8% than Hero MotoCorp at 19.8%. TVS Motor is larger by market cap at Rs 2,16,640 crore against Rs 1,06,886 crore and has a higher ROE at 33.72% against 25.64%, while Hero MotoCorp trades at a much lower P/E of 17.73 against 54.32. The better choice depends on your view of each business.
What does Hero MotoCorp do?
Ans. Hero MotoCorp is a New Delhi-based two-wheeler company that makes motorcycles and scooters and sells them across India and in export markets.
Is the Hero MotoCorp stock debt free?
Ans. The debt to equity ratio of the Hero MotoCorp stock is 0.06 and its return on equity is 25.64%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Hero MotoCorp expensive compared with the industry?
Ans. Hero MotoCorp trades at a P/E of 17.73 against an industry P/E of 25.73. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which two-wheeler stock gave the highest return in 3 years?
Ans. Among the companies compared here, TVS Motor Company delivered the highest three-year CAGR at 40.8%, followed by Eicher Motors at 28.9%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
