Ashok Leyland vs Force Motors: share price, P/E, ROE and financials compared
Ashok Leyland
Force Motors
Ashok Leyland and Force Motors at a glance
Ashok Leyland is the larger by market cap, at ₹1.0L Cr against ₹24,993 Cr for Force Motors (4.0 times as large). On valuation, Force Motors has the lower P/E (20.9× against 29.1×) and the lower price-to-book (5.39× against 7.10×). On returns and margins, Ashok Leyland has the higher operating margin (21.5% against 15.4%), while Force Motors has the higher ROCE (33.8% against 14.5%) and the higher ROE (29.3% against 26.2%). Over three years, Force Motors has faster 3-year sales growth (+21.7% against +10.6% a year) and faster 3-year profit growth (+108.5% against +41.0% a year).
Key metrics, side by side
| Metric | Ashok LeylandASHOKLEY | Force MotorsFORCEMOT |
|---|---|---|
| Price (₹) | 172.09 | 18,968.00 |
| Market cap (₹ Cr) | 1,01,083 | 24,993 |
| P/E | 29.1× | 20.9× (the lower figure, shaded) |
| P/B | 7.10× | 5.39× (the lower figure, shaded) |
| Dividend yield, trailing | 2.03% (the higher figure, shaded) | 0.26% |
| ROE | 26.2% | 29.3% (the higher figure, shaded) |
| ROCE | 14.5% | 33.8% (the higher figure, shaded) |
| Operating margin (OPM) | 21.5% (the higher figure, shaded) | 15.4% |
| Net margin (NPM) | 6.0% | 11.9% (the higher figure, shaded) |
| Sales CAGR 3Y | +10.6% | +21.7% (the higher figure, shaded) |
| Profit CAGR 3Y | +41.0% | +108.5% (the higher figure, shaded) |
| Debt to equity | 3.45× | – |
| Interest cover | 2.1× | 493.1× (the higher figure, shaded) |
| Net profit TTM (₹ Cr) | 3,476 | 1,195 |
| 1Y return | +21.2% (the higher figure, shaded) | +0.6% |
| Promoter holding | 51.51% | – |
Ashok Leyland vs Force Motors: common questions
Which is bigger, Ashok Leyland or Force Motors?
By market cap, Ashok Leyland is bigger at ₹1.0L Cr, against ₹24,993 Cr for Force Motors (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹3,476 Cr for Ashok Leyland and ₹1,195 Cr for Force Motors.
Which has a lower P/E ratio, Ashok Leyland or Force Motors?
Ashok Leyland trades at a P/E of 29.1× and Force Motors at 20.9×. Force Motors has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Ashok Leyland or Force Motors?
Ashok Leyland reports a return on equity of 26.2% and Force Motors 29.3%. Force Motors has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Ashok Leyland or Force Motors?
Over the last three years: Sales grew +10.6% a year at Ashok Leyland and +21.7% at Force Motors, so Force Motors grew sales faster; profit grew +41.0% a year at Ashok Leyland and +108.5% at Force Motors, so Force Motors grew profit faster. Past growth doesn’t predict future growth.