CRISIL vs ICRA vs CARE Ratings: Which Stock Should You Track
- September 24, 2026
- Posted by: Ankit Jaiswal
- Category: Market
CRISIL PE 38.08, mkt cap Rs 33,669 crore. ICRA PE 22.30, mkt cap Rs 4,376 crore. CARE Ratings PE 27.39, mkt cap Rs 4,936 crore.
Quick Answer
CRISIL vs ICRA vs CARE Ratings is a side-by-side comparison of three companies from the Credit Rating Agencies space. On this comparison, CRISIL carries a market capitalisation of about Rs 33,669 crore against Rs 4,376 crore for ICRA and Rs 4,936 crore for CARE Ratings, with return on equity of 27.03%, 15.37% and 18.36% respectively. Each company’s numbers are presented here without a declared better pick, since the right stock depends on an investor’s own criteria.
CRISIL vs ICRA vs CARE Ratings starts with the core numbers most investors compare within the Credit Rating Agencies segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of September 2026 and will shift with daily price moves.
All three names sit in the Credit Rating Agencies bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.
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CRISIL, ICRA and CARE Ratings: Company Overview
CRISIL is a listed Indian company in the Credit Rating Agencies space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
ICRA is a listed Indian company in the Credit Rating Agencies space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
CARE Ratings is a listed Indian company in the Credit Rating Agencies space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
CRISIL vs ICRA vs CARE Ratings: Valuation and Profitability Snapshot
| Metric | CRISIL | ICRA | CARE Ratings |
|---|---|---|---|
| Market Cap (approx.) | Rs 33,669 crore | Rs 4,376 crore | Rs 4,936 crore |
| PE Ratio (TTM) | 38.08 | 22.30 | 27.39 |
| PB Ratio | 10.29 | 3.71 | 5.29 |
| Return on Equity (ROE) | 27.03% | 15.37% | 18.36% |
| EPS (TTM, Rs) | 120.92 | 203.32 | 59.83 |
| Dividend Yield | 1.30% | 2.32% | 1.34% |
| Debt to Equity | 0.10 | 0.02 | 0.03 |
| Book Value per Share (Rs) | 447.34 | 1223.41 | 309.57 |
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On valuation, CRISIL trades at a PE of 38.08 and a PB of 10.29, ICRA at a PE of 22.30 and a PB of 3.71, while CARE Ratings trades at a PE of 27.39 and a PB of 5.29. On return on equity, the three post 27.03%, 15.37% and 18.36% respectively, and on dividend yield they stand at 1.30%, 2.32% and 1.34%.
CRISIL vs ICRA vs CARE Ratings: Latest Quarterly Results
| Company | Latest Quarter Revenue | Latest Quarter Net Profit | YoY Change (Revenue) | QoQ Change (Revenue) |
|---|---|---|---|---|
| CRISIL | Rs 1,096.53 crore | Rs 216.46 crore | +26.5% | +0.3% |
| ICRA | Rs 191.00 crore | Rs 56.46 crore | +28.3% | +1.0% |
| CARE Ratings | Rs 126.48 crore | Rs 32.99 crore | +17.5% | -13.6% |
Quarterly figures above are the most recent reported quarter for each company (Q1 FY28, quarter ended June 2026), compared with the year-ago and preceding quarter.
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What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three credit rating agencies names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.
Conclusion
CRISIL vs ICRA vs CARE Ratings highlights how differently three companies in the same credit rating agencies segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; 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).
FAQs on CRISIL vs ICRA vs CARE Ratings
What is the market cap difference between CRISIL, ICRA and CARE Ratings?
Ans. As of September 2026, CRISIL has a market cap of approximately Rs 33,669 crore, ICRA is at approximately Rs 4,376 crore, and CARE Ratings is at approximately Rs 4,936 crore.
Which of the three has the highest PE ratio?
Ans. Among CRISIL, ICRA and CARE Ratings, the PE ratios stand at 38.08, 22.30 and 27.39 respectively as of September 2026.
Which of the three has the highest ROE?
Ans. CRISIL, ICRA and CARE Ratings post ROE of 27.03%, 15.37% and 18.36% respectively as of September 2026.
Which of these three stocks pays the highest dividend yield?
Ans. CRISIL, ICRA and CARE Ratings carry dividend yields of 1.30%, 2.32% and 1.34% respectively.
What is the debt to equity ratio for CRISIL, ICRA and CARE Ratings?
Ans. CRISIL carries a debt to equity of 0.10, ICRA of 0.02, and CARE Ratings of 0.03.
Which of the three trades at the highest price to book value?
Ans. CRISIL, ICRA and CARE Ratings trade at price to book ratios of 10.29, 3.71 and 5.29 respectively.
Is one of CRISIL, ICRA or CARE Ratings better than the others?
Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.
