Max Healthcare (MAXHEALTH)

FairStock Score: 52/100 — MIXED

Score breakdown: P/E: 0/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Fellow investor, when I look at Max Healthcare, I see a hospital business with a long runway, but the price asks for perfection. At ₹1,008.60, market cap ₹98,165 Cr, it trades at 67.56 times earnings and 9.13 times book, while book value is only ₹110.43. Graham’s number is ₹178.08, so my margin of safety is negative 513%. That tells me I’m paying a huge premium for future growth, not for current assets. The business quality has merits: ROE 15.13%, ROCE 14.88%, debt/equity 0.32, Altman Z 5.81 and Piotroski 8/9 suggest financial stability and improving fundamentals. 5-year revenue CAGR 46.01% and latest quarter sales ₹2,068 Cr show scale, but profit growth of 0.95% and net profit ₹301 Cr reveal that earnings are not compounding at the same pace. Sales growth 205.76% is eye-catching, but with FCF negative ₹155 Cr, growth is consuming cash. EV/EBITDA 131.82 is nosebleed. Dividend yield 0.20% gives little comfort. Promoter holding 23.72% is not high. FairStock 52/100 mixed. The numbers do not prove a durable moat; the market is paying for one. For an Indian retail investor, the key is not to confuse a good hospital with a good entry price. I’d wait for a much lower price or evidence that profits and free cash flow inflect. Great business, demanding price.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer