Max Healthcare vs Manipal Health: share price, P/E, ROE and financials compared
Max Healthcare Institute
Manipal Health Enterprises
Max Healthcare and Manipal Health at a glance
Max Healthcare and Manipal Health are both listed in Healthcare. Max Healthcare is the larger by market cap, at ₹90,909 Cr against ₹85,065 Cr for Manipal Health. On valuation, Max Healthcare has the lower P/E (66.1× against 133.6×) and the lower price-to-book (8.03× against 9.05×). On returns and margins, Max Healthcare has the higher ROCE (12.6% against 9.8%), the higher ROE (12.8% against 9.2%) and the higher operating margin (26.8% against 17.8%). Max Healthcare carries less debt for its equity, with a debt-to-equity of 0.33× against 1.46×.
Key metrics, side by side
| Metric | Max HealthcareMAXHEALTH | Manipal HealthMANIPALHOS |
|---|---|---|
| Price (₹) | 934.00 | 646.70 |
| Market cap (₹ Cr) | 90,909 | 85,065 |
| P/E | 66.1× (the lower figure, shaded) | 133.6× |
| P/B | 8.03× (the lower figure, shaded) | 9.05× |
| Dividend yield, trailing | 0.21% (the higher figure, shaded) | 0.00% |
| ROE | 12.8% (the higher figure, shaded) | 9.2% |
| ROCE | 12.6% (the higher figure, shaded) | 9.8% |
| Operating margin (OPM) | 26.8% (the higher figure, shaded) | 17.8% |
| Net margin (NPM) | 15.1% (the higher figure, shaded) | 7.8% |
| Sales CAGR 3Y | +22.4% | – |
| Profit CAGR 3Y | +9.3% | – |
| Debt to equity | 0.33× (the lower figure, shaded) | 1.46× |
| Interest cover | 8.8× (the higher figure, shaded) | 1.8× |
| Net profit TTM (₹ Cr) | 1,381 | – |
| 1Y return | −18.1% | −1.5% (the higher figure, shaded) |
| Promoter holding | 23.71% | 72.08% |
Max Healthcare vs Manipal Health: common questions
Which is bigger, Max Healthcare or Manipal Health?
By market cap, Max Healthcare is bigger at ₹90,909 Cr, against ₹85,065 Cr for Manipal Health (prices as of 6 Nov 2026).
Which has a lower P/E ratio, Max Healthcare or Manipal Health?
Max Healthcare trades at a P/E of 66.1× and Manipal Health at 133.6×. Max 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 Manipal Health?
Max Healthcare reports a return on equity of 12.8% and Manipal Health 9.2%. Max Healthcare has the higher ROE. ROE is net profit as a share of shareholders’ equity.