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Apollo Hospitals Enterprise Limited (APOLLOHOSP) Fair Value & Analysis

Healthcare · IN · Market cap ₹1.3T (≈ $13.5B) · ISIN INE437A01024

What is Apollo Hospitals Enterprise Limited really worth?

AH Apollo Hospitals Enterprise Limited APOLLOHOSP · NSE
Price₹8,650
Fair Value₹5,234
Upside−39.5%
Quality58/100

A solid business, but trading 65% above our fair value of ₹5,234.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +19.0 %/yr)
!Thin margins · 7.7% net margin
!Mixed vs. peers (7/14)
!Moderate moat 58/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 5 out of 100

For context

·0.23% dividend yield
Evidence: Medium Range ₹2,483 – ₹7,808

Fair value as of: Aug 19, 2026

From 26 valuation models · updated 16 days ago

Fair value updated Aug 19, 2026, revised from ₹2,908 to ₹5,234 (+80.0%) since Aug 13, 2026. Share price −2.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹7,808). The favourable scenario is already priced in.
  • The model range is unusually wide (₹2,483 to ₹7,808). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹9,050 ₹3,109 Fair Value ₹5,234 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹3,109 – ₹9,050 · fair‑value band ₹2,483 – ₹7,808 · the ₹8,650 price screens above the ₹5,234 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Apollo Hospitals Enterprise Limited (APOLLOHOSP) currently trades at ₹8,650, while our model-based Fair Value estimate is ₹5,234, implying the stock looks roughly 65.3% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of ₹3,337 per share, and 0 of the 26 models we run sit above the ₹8,650 price. Bear case: the Economic Profit group reads lowest at ₹1,330, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Apollo Hospitals Enterprise Limited generated revenue of ₹252B at a net margin of 7.7%. Revenue grew 18.1% year over year. It earns a return on equity of 21.5%. Net debt stands at ₹73.8B. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹2,483 (bear case) to ₹7,808 (bull case); at ₹8,650, 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 near 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 −7% fair-value upside, at −39%, APOLLOHOSP screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹49.90 per share, which is 1.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV ₹1,463 ₹1,737 ₹1,981 74
FCF DCF ₹667.33 ₹1,335 ₹3,106 73
Growth DCF ₹646.72 ₹1,488 ₹2,907 73
All 26 models by family
DCF Models
FCF DCF ₹667.33 ₹1,335 ₹3,106 73
Owner Earnings ₹820.29 ₹1,851 ₹3,948 70
5Y Revenue Exit ₹1,471 ₹3,197 ₹5,734 69
5Y EBITDA Exit ₹2,014 ₹4,413 ₹7,678 72
5Y P/E Exit ₹1,654 ₹3,606 ₹6,035 68
10Y Revenue Exit ₹1,157 ₹2,783 ₹5,682 62
10Y EBITDA Exit ₹1,611 ₹3,740 ₹7,490 64
10Y P/E Exit ₹1,358 ₹3,105 ₹5,962 60
Earnings-Based
Graham-Dodd ₹918.29 ₹5,517 ₹7,689 63
Lynch FV ₹1,573 ₹2,247 ₹2,921 61
PEG = 1.0 ₹1,573 ₹2,247 ₹2,921 57
EPV ₹1,463 ₹1,737 ₹1,981 74
Dividend Discount
Gordon GGM ₹192.40 ₹420.04 ₹706.74 65
DDM Multi-Stage ₹192.40 ₹344.08 ₹437.75 66
Multiples
P/E Multiple ₹2,228 ₹2,971 ₹3,714 63
P/S Multiple ₹1,722 ₹2,296 ₹2,870 58
P/B Multiple ₹1,722 ₹2,296 ₹2,870 55
EV/EBIT ₹2,474 ₹3,329 ₹4,185 66
EV/EBITDA ₹2,661 ₹3,579 ₹4,496 67
EV/Revenue ₹1,740 ₹2,524 ₹3,309 53
Asset-Based
NCAV (Graham) ₹329.66 ₹441.75 ₹659.33 54
Growth DCF
Growth DCF ₹646.72 ₹1,488 ₹2,907 73
Rev-Margin DCF ₹1,471 ₹3,096 ₹5,391 69
Economic Profit
Residual Income ₹959.61 ₹1,330 ₹7,511 64
ROIC Compounder ₹1,811 ₹2,695 ₹3,973 70
Growth Earnings
Growth-Adj P/E ₹2,336 ₹3,337 ₹4,338 67

Widest divergence: Growth Earnings (₹3,337) versus Dividend Discount (₹344.08). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 65.4 as of Jul 12, 2026
P/S ratio 5.03 P/E × margin
EPS (TTM) ₹135.27 price ÷ EPS = P/E 65.4
Dividend yield 0.2% payout 14.8%
Net margin 7.7% FY2026
Return on equity 21.5% TTM
More key figures
Profitability
Return on assets (EBIT) 29.4% avg 5y
Operating margin 11.9% TTM
Growth
Revenue (TTM) ₹252B TTM
Revenue growth (YoY) +18.1% 3y avg +14.9%
EPS growth (YoY) +35.6%
Balance sheet & cash flow
Free cash flow ₹7.1B FY2026
Net debt ₹73.8B FY2026 · ≈ 10.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 69

Profitability 65
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 66
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Apollo Hospitals Enterprise Limited, together with its subsidiaries, provides healthcare services in India. It operates through Healthcare Services, Retail Health & Diagnostics, Digital Health & Pharmacy Distribution, and Others segments. The company's healthcare facilities comprise primary, secondary, and tertiary care, as well as specialty facilities.

Full company description

Apollo Hospitals Enterprise Limited, together with its subsidiaries, provides healthcare services in India. It operates through Healthcare Services, Retail Health & Diagnostics, Digital Health & Pharmacy Distribution, and Others segments. The company's healthcare facilities comprise primary, secondary, and tertiary care, as well as specialty facilities. It offers services in cardiac sciences, oncology, neurosciences, gastroenterology, orthopedics, urology, organ transplantation, pulmonology, obstetrics and gynecology, internal medicine, vascular surgery, pediatrics, cosmetology, emergency medicine, bariatric surgery, general surgery, colorectal surgery, dentistry, nephrology, dermatology, endocrinology, preventive medicine, interventional radiology, ophthalmology, and integrative medicine, as well as robotic surgery and genomics. The company also provides project consultancy, medical educational institutes, Medvarsity for e-learning, and research services, as well as acts as an agent for life, general, and health insurance. In addition, it operates hospitals, pharmacies, primary care clinics, and diagnostic centers; short stay facilities, boutique birthing centers, multi-specialty clinics, dental and dialysis facilities, and preventive care; day surgery, diabetes management, and cradle and fertility centers; and Apollo 24/7, a digital health mobile platform that provides teleconsultations, online pharmacy deliveries, home diagnostics, and insurance services. Further, the company engages in the business of bio-banking of tissues. It serves patients, corporate clients, and the government and public sectors. Apollo Hospitals Enterprise Limited was incorporated in 1979 and is based in Chennai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Apollo Hospitals Enterprise Limited reported revenue of ₹252B in FY2026 versus ₹147B in FY2022, a compound +14.5%/yr. Reported net income was ₹19.4B in FY2026, compounding +16.5%/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)
₹252B
Latest YoY
+15.8%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.0%
Avg. revenue growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.9%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+33.0% (32.8 + 0.2)
Revenue +14.5%/yr
FY22 ₹147B
FY23 ₹166B
FY24 ₹191B
FY25 ₹218B
FY26 ₹252B
Net income +16.5%/yr
FY22 ₹10.6B
FY23 ₹8.2B
FY24 ₹9.0B
FY25 ₹14.5B
FY26 ₹19.4B
Character of growth · EPS growth decomposed (2015-2026) +20.1 % p.a.
Revenue per share +14.7 %

of which total revenue +15.1 % · buybacks/dilution −0.4 %

EBIT margin −1.7 %
Tax rate +0.2 %
Residual (interest, one-offs) +6.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

APOLLOHOSP screens 65% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Apollo Hospitals Enterprise Limited Fair Value". https://www.fairvalue-calculator.com/stock/APOLLOHOSP

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Medical Care Facilities · 257 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 58 · Above median
Fair Value upside −40% · Below median
Return on equity (TTM) 22% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 65.4× · Pricier than 75% of peers
P/B 13.41× · Pricier than 75% of peers
P/S (TTM) 5.04× · Pricier than 75% of peers
P/FCF 1.9× · Cheaper than median
EV/EBITDA 34.1× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 23
FUTURE91 · sector 26
PAST86 · sector 30
HEALTH87 · sector 90
DIVIDEND5 · sector 43

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

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $417.82 $547.67 +31%
Fresenius SE FRE €45.25 €32.15 −29%
Dr. Sulaiman Al Habib Medical Services Group 4013 241.00 SAR 112.37 SAR −53%
IHH Healthcare Berhad, an investment holding company, Q0F 2.67 SGD 1.44 SGD −46%
Tenet Healthcare Corporation THC $266.80 $330.25 +24%
DaVita Inc DVA $180.68 $186.49 +3%
Fresenius Medical Care AG FME €39.92 €71.28 +79%
Aier Eye Hospital Group 300015 ¥8.25 ¥7.67 −7%
Max Healthcare Institute Limited MAXHEALTH ₹1,005 ₹284.87 −72%
Encompass Health Corporation EHC $120.31 $109.77 −9%

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Frequently asked questions

Is Apollo Hospitals Enterprise Limited (APOLLOHOSP) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹5,234 versus a price of ₹8,650, about −39% upside (overvalued).
What is the fair value of APOLLOHOSP?
Our model-based fair value for Apollo Hospitals Enterprise Limited is ₹5,234 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹8,650.
What is the quality score of APOLLOHOSP?
Apollo Hospitals Enterprise Limited has a Quality Score of 58/100. 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 Apollo Hospitals Enterprise Limited (APOLLOHOSP)?
Apollo Hospitals Enterprise Limited reported trailing-twelve-month revenue of about ₹252B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of APOLLOHOSP?
The net profit margin of Apollo Hospitals Enterprise Limited is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.
Does Apollo Hospitals Enterprise Limited pay a dividend?
Apollo Hospitals Enterprise Limited currently shows a dividend yield of about 0.23% relative to its recent price (as of Aug 19, 2026).
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