Max Financial Services Limited (MFSL) Fair Value & Analysis
Financial Services · IN · Market cap ₹561B
Fair value as of: Jul 11, 2026
From 6 valuation models · updated 30 days ago
Fair value updated Jul 11, 2026, revised from ₹3,000 to ₹3,031 (+1.0%) since Jun 26, 2026. Share price −7.3% over the past month.
Below-average quality, screening 100% undervalued on our models.
What matters now
- The price is below even our cautious bear case (₹2,274). The market is more pessimistic than our downside scenario.
- Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range ₹608.95 – ₹1,870 · fair‑value band ₹2,274 – ₹3,789 · the ₹1,515 price screens below the ₹3,031 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Max Financial Services Limited (MFSL) currently trades at ₹1,515, while our model-based Fair Value estimate is ₹3,031, implying the stock looks roughly 100.1% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Max Financial Services Limited generated revenue of ₹477B at a net margin of 0.2%. Revenue declined 40.2% year over year. It earns a return on equity of 1.6%. The balance sheet holds a net cash position of ₹627M. Fundamentals as of Jul 11, 2026
Our scenario range runs from ₹2,274 (bear case) to ₹3,789 (bull case); at ₹1,515, the current price sits below 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 20% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 1% fair-value upside, at 100%, MFSL screens cheaper 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.
All 6 models by family
Widest divergence: Economic Profit (₹9,829) versus Dividend Discount (₹1,532). Highest evidence: Residual Income (76).
Notify me when MFSL reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 46
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
Max Financial Services Limited, through its subsidiary, engages in life insurance business in India. The company operates through Business Investments and Others, and Life Insurance segments.
Full company description
Max Financial Services Limited, through its subsidiary, engages in life insurance business in India. The company operates through Business Investments and Others, and Life Insurance segments. It offers participating and nonparticipating and linked products covering life insurance, pension and health benefits, including riders for individual and group through individual agents, corporate agents, banks, brokers, and other channels. The company is also involved treasury investment activities; and provision of management advisory services. Max Financial Services Limited was incorporated in 1988 and is based in Noida, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Max Financial Services Limited reported revenue of ₹477B in FY2026 versus ₹312B in FY2022, a compound +11.2%/yr. Reported net income was ₹840M in FY2026, compounding −24.1%/yr from FY2022.
of which total revenue +14.6 pp · buybacks/dilution −1.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch MFSL: get an alert when its fair value changes →
Peer Group
Insurance - Life · 95 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.
Valuation Multiples vs Insurance - Life median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥38.72 | ¥70.87 | +83% |
| Ping An Insurance (Group) Company 601318 | ¥49.60 | ¥96.76 | +95% |
| AIA Group 1299 | HK$75.55 | HK$7.88 | -90% |
| Manulife Financial Corporation MFC | C$58.52 | C$45.13 | -23% |
| Great-West Lifeco Inc GWO | C$92.34 | C$59.64 | -35% |
| Life Insurance Corporation LICI | ₹438.30 | ₹590.43 | +35% |
| Fubon Financial Holding 2881 | 124.50 TWD | 115.05 TWD | -8% |
| Cathay Financial Holding 2882 | 94.00 TWD | 94.95 TWD | +1% |
| Samsung Life Insurance Co 032830 | 337,500 KRW | 166,710 KRW | -51% |
| China Pacific Insurance (Group) Co 601601 | ¥29.75 | ¥59.50 | +100% |
Compare Max Financial Services Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is Max Financial Services Limited (MFSL) overvalued or undervalued?
What is the fair value of MFSL?
What is the quality score of MFSL?
What is the revenue of Max Financial Services Limited (MFSL)?
What is the net profit margin of MFSL?
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.
Track Max Financial Services Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.