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Fortis Healthcare Limited (FORTIS) Fair Value & Analysis

Healthcare · IN · Market cap ₹727B

FH Fortis Healthcare Limited FORTIS · NSE
Price₹955.15
Fair Value₹546.44
Upside-42.8%
Quality57/100
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Mixed Growth
Solidly profitable · 11.4% net margin
Low debt · generates free cash flow
0.10% dividend yield
Mixed vs. peers (8/15)
Moderate moat 55/100
Evidence: High Range ₹282.89 – ₹683.06 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from ₹303.58 to ₹546.44 (+80.0%) since Jul 16, 2026. Share price +1.2% over the past month.

A solid business, but screening 43% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹683.06). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹282.89 to ₹683.06) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,098 ₹199.15 Fair Value ₹546.44 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range ₹199.15 – ₹1,098 · fair‑value band ₹282.89 – ₹683.06 · the ₹955.15 price screens above the ₹546.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Fortis Healthcare Limited (FORTIS) currently trades at ₹955.15, while our model-based Fair Value estimate is ₹546.44, implying the stock looks roughly 42.8% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Fortis Healthcare Limited generated revenue of ₹91.3B at a net margin of 11.4%. Revenue grew 17.8% year over year. It earns a return on equity of 11.0%. Net debt stands at ₹29.3B. Fundamentals as of Jul 18, 2026

Our scenario range runs from ₹282.89 (bear case) to ₹683.06 (bull case); at ₹955.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -43%, FORTIS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹61.36 ₹157.85 ₹319.39 80
Residual Income ₹118.31 ₹136.41 ₹290.46 76
Rev-Margin DCF ₹144.89 ₹317.65 ₹560.13 74
All 26 models by family
DCF Models
FCF DCF ₹63.60 ₹142.73 ₹350.54 38
Owner Earnings ₹85.12 ₹206.70 ₹452.02 31
5Y Revenue Exit ₹144.89 ₹328.04 ₹595.98 39
5Y EBITDA Exit ₹198.67 ₹447.79 ₹784.96 41
5Y P/E Exit ₹156.13 ₹353.07 ₹596.52 38
10Y Revenue Exit ₹112.50 ₹285.17 ₹590.05 36
10Y EBITDA Exit ₹157.95 ₹379.07 ₹764.71 37
10Y P/E Exit ₹128.15 ₹304.79 ₹590.56 35
Earnings-Based
Graham-Dodd ₹93.83 ₹553.73 ₹771.13 54
Lynch FV ₹157.16 ₹224.51 ₹291.87 50
PEG = 1.0 ₹157.16 ₹224.51 ₹291.87 46
EPV ₹152.08 ₹183.26 ₹210.98 59
Dividend Discount
Gordon GGM ₹9.89 ₹21.60 ₹36.35 70
DDM Multi-Stage ₹9.89 ₹17.70 ₹22.51 61
Multiples
P/E Multiple ₹227.69 ₹303.58 ₹379.48 63
P/S Multiple ₹175.94 ₹234.59 ₹293.23 58
P/B Multiple ₹175.94 ₹234.59 ₹293.23 55
EV/EBIT ₹251.61 ₹343.69 ₹435.76 53
EV/EBITDA ₹265.38 ₹362.04 ₹458.70 54
EV/Revenue ₹172.54 ₹257.03 ₹341.52 43
Asset-Based
NCAV (Graham) ₹65.54 ₹87.82 ₹131.07 50
Growth DCF
Growth DCF ₹61.36 ₹157.85 ₹319.39 80
Rev-Margin DCF ₹144.89 ₹317.65 ₹560.13 74
Economic Profit
Residual Income ₹118.31 ₹136.41 ₹290.46 76
ROIC Compounder ₹168.30 ₹263.10 ₹345.81 72
Growth Earnings
Growth-Adj P/E ₹235.25 ₹336.07 ₹436.89 68

Widest divergence: Growth Earnings (₹336.07) versus Dividend Discount (₹17.70). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹91.3B
Revenue growth (YoY) +17.8%
Net margin 11.4%
Return on equity 11.0%
Free cash flow ₹4.4B FY2026
P/E ratio 70.4
More key figures
Operating margin 17.4%
EPS (TTM) ₹13.75
Dividend yield 0.1%
EPS growth (YoY) +44.3%
Net debt ₹29.3B FY2026

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 60

Profitability 44
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Fortis Healthcare Limited operates as a healthcare delivery service provider in India. The company offers services in the areas of cardiac science, critical care, vascular surgery, dental science, dermatology, diabetology/endocrinology, emergency and trauma, geriatric medicine, liver transplant and hepatobiliary sciences, pain and palliative medicine, ENT, …

Full company description

Fortis Healthcare Limited operates as a healthcare delivery service provider in India. The company offers services in the areas of cardiac science, critical care, vascular surgery, dental science, dermatology, diabetology/endocrinology, emergency and trauma, geriatric medicine, liver transplant and hepatobiliary sciences, pain and palliative medicine, ENT, foetal medicine, gastroenterology and hepatology science, general surgery, and haematology areas. It also provides services in the areas of infertility medicine, internal medicine, mental health and behavioral science, nephrology, neuro surgery, neurointerventional radiology, neurology, obstetrics and gynaecology, oncology, ophthalmology, orthopedics, pediatrics, physiotherapy and rehabilitation, plastic and reconstructive surgery, pulmonology, radiology, organ transplant, rheumatology, thoracic surgery, transfusion medicine, urology, medical generics, endocrine surgery, and other support specialties, as well as treat infectious diseases. The company's healthcare verticals comprise hospitals, diagnostics, tertiary and quaternary care, and day care specialty facilities. Fortis Healthcare Limited was incorporated in 1996 and is based in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Fortis Healthcare Limited reported revenue of ₹91.3B in FY2026 versus ₹57.2B in FY2022, a compound +12.4%/yr. Reported net income was ₹10.4B in FY2026, compounding +17.0%/yr from FY2022.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹91.3B
Latest YoY
+17.2%
Avg. growth/yr (3Y)
+13.2%
Avg. growth/yr (5Y)
+17.8%
Avg. growth/yr (24Y)
+31.9%
Revenue +12.4%/yr
FY22 ₹57.2B
FY23 ₹63.0B
FY24 ₹69.0B
FY25 ₹77.9B
FY26 ₹91.3B
Net income +17.0%/yr
FY22 ₹5.6B
FY23 ₹5.9B
FY24 ₹6.0B
FY25 ₹7.7B
FY26 ₹10.4B

FORTIS screens 43% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Fortis Healthcare Limited Fair Value". https://www.fairvalue-calculator.com/stock/FORTIS

Peer Group

Medical Care Facilities · 262 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −43% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 7% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 18% · Top 25%
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 70.0× · Pricier than 75% of peers
P/B 7.35× · Pricier than 75% of peers
P/S (TTM) 7.97× · Pricier than 75% of peers
P/FCF 1.7× · Cheaper than median
EV/EBITDA 35.8× · Pricier than 75% of peers
PEG 0.42× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 22
FUTURE 89 · sector 24
PAST 44 · sector 30
HEALTH 88 · sector 90
DIVIDEND 2 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is Fortis Healthcare Limited (FORTIS) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of ₹546.44 versus a price of ₹955.15, about −43% (overvalued).
What is the fair value of FORTIS?
Our model-based fair value for Fortis Healthcare Limited is ₹546.44 (as of Jul 18, 2026), built from audited fundamentals. The current price is ₹955.15.
What is the quality score of FORTIS?
Fortis Healthcare Limited has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Fortis Healthcare Limited (FORTIS)?
Fortis Healthcare Limited reported trailing-twelve-month revenue of about ₹91.3B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of FORTIS?
The net profit margin of Fortis Healthcare Limited is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Fortis Healthcare Limited pay a dividend?
Fortis Healthcare Limited currently shows a dividend yield of about 0.11% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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