Max Healthcare vs Fortis Healthcare: share price, P/E, ROE and financials compared
Max Healthcare Institute
Fortis Healthcare
Max Healthcare and Fortis Healthcare at a glance
Max Healthcare and Fortis Healthcare are both listed in Healthcare. Max Healthcare is the larger by market cap, at ₹90,909 Cr against ₹57,898 Cr for Fortis Healthcare (1.6 times as large). On valuation, Fortis Healthcare has the lower P/E (55.3× against 66.1×) and the lower price-to-book (5.52× against 8.03×). On returns and margins, Max Healthcare has the higher ROCE (12.6% against 11.9%), the higher ROE (12.8% against 11.1%) and the higher operating margin (26.8% against 22.4%). Over three years, Max Healthcare has faster 3-year sales growth (+22.4% against +13.3% a year), while Fortis Healthcare has faster 3-year profit growth (+20.9% against +9.3% a year). Debt-to-equity is similar, 0.33× for Max Healthcare and 0.34× for Fortis Healthcare.
Key metrics, side by side
| Metric | Max HealthcareMAXHEALTH | Fortis HealthcareFORTIS |
|---|---|---|
| Price (₹) | 934.00 | 766.90 |
| Market cap (₹ Cr) | 90,909 | 57,898 |
| P/E | 66.1× | 55.3× (the lower figure, shaded) |
| P/B | 8.03× | 5.52× (the lower figure, shaded) |
| Dividend yield, trailing | 0.21% | 0.13% |
| ROE | 12.8% (the higher figure, shaded) | 11.1% |
| ROCE | 12.6% (the higher figure, shaded) | 11.9% |
| Operating margin (OPM) | 26.8% (the higher figure, shaded) | 22.4% |
| Net margin (NPM) | 15.1% (the higher figure, shaded) | 11.0% |
| Sales CAGR 3Y | +22.4% (the higher figure, shaded) | +13.3% |
| Profit CAGR 3Y | +9.3% | +20.9% (the higher figure, shaded) |
| Debt to equity | 0.33× | 0.34× |
| Interest cover | 8.8× (the higher figure, shaded) | 5.8× |
| Net profit TTM (₹ Cr) | 1,381 | 1,048 |
| 1Y return | −18.1% (the higher figure, shaded) | −19.6% |
| Promoter holding | 23.71% | 31.17% |
Max Healthcare vs Fortis Healthcare: common questions
Which is bigger, Max Healthcare or Fortis Healthcare?
By market cap, Max Healthcare is bigger at ₹90,909 Cr, against ₹57,898 Cr for Fortis Healthcare (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹1,381 Cr for Max Healthcare and ₹1,048 Cr for Fortis Healthcare.
Which has a lower P/E ratio, Max Healthcare or Fortis Healthcare?
Max Healthcare trades at a P/E of 66.1× and Fortis Healthcare at 55.3×. Fortis Healthcare 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, Max Healthcare or Fortis Healthcare?
Max Healthcare reports a return on equity of 12.8% and Fortis Healthcare 11.1%. Max Healthcare has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Max Healthcare or Fortis Healthcare?
Over the last three years: Sales grew +22.4% a year at Max Healthcare and +13.3% at Fortis Healthcare, so Max Healthcare grew sales faster; profit grew +9.3% a year at Max Healthcare and +20.9% at Fortis Healthcare, so Fortis Healthcare grew profit faster. Past growth doesn’t predict future growth.