Want to see IN:FORTIS full AI Analyst Report?
Top Page
Fortis Healthcare Ltd.
(FORTIS)
Select Model
Select Model
Rating:60Neutral
Price Target:
₹949.00
▲(2.97% Upside)
Action:Reiterated
Date:08/24/26
The score is supported by solid underlying financial performance (profitability improvement and conservative leverage), but is held back by weak technical momentum and a stretched valuation (high P/E with very low dividend yield).
Positive Factors
Sustained Revenue Growth
Consistent multi-year revenue expansion indicates ongoing demand for Fortis’s hospital and diagnostic services. Continued growth can support better utilization, stronger operating leverage, and broader network economics over the next several quarters.
Negative Factors
Uneven Cash Conversion
Positive operating cash flow supports the business, but weak conversion from earnings and modest free cash flow may reflect working-capital needs or ongoing build-out. This can limit internally funded expansion and reduce cash-flow visibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent multi-year revenue expansion indicates ongoing demand for Fortis’s hospital and diagnostic services. Continued growth can support better utilization, stronger operating leverage, and broader network economics over the next several quarters.
Read all positive factors
Fortis Healthcare Ltd. (FORTIS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹669.87B
Dividend Yield0.11%
Average Volume (3M)297.19K
Price to Earnings (P/E)64.0
Beta (1Y)1.09
Revenue Growth17.50%
EPS Growth20.65%
CountryIN
Employees14,649
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)13.88
Shares Outstanding754,958,100
10 Day Avg. Volume230,282
30 Day Avg. Volume297,192
Financial Highlights & Ratios
PEG Ratio1.67
Price to Book (P/B)6.06
Price to Sales (P/S)6.58
P/FCF Ratio136.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,165.00Price Target Upside26.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)17.16
Revenue Forecast (FY)₹106.55B
Fortis Healthcare Ltd. Business Overview & Revenue Model
Company Description
Established in 1996 and headquartered in Gurugram, India, Fortis Healthcare Limited operates as an integrated provider of healthcare services. The company extends its offerings, which encompass secondary, tertiary, and quaternary medical care, acr...
How the Company Makes Money
Fortis Healthcare primarily generates revenue from (1) hospital operations and (2) diagnostic services.
1) Hospital operations (core revenue stream):
- Inpatient services: Revenue is earned from room/bed charges, nursing and clinical care, ICU/cr...
Fortis Healthcare Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 95.06B | 91.28B | 77.86B | 68.97B | 62.98B | 57.18B |
| Gross Profit | 38.83B | 33.43B | 45.86B | 39.73B | 23.08B | 32.25B |
| EBITDA | 21.45B | 21.30B | 15.00B | 11.87B | 10.37B | 9.96B |
| Net Income | 10.48B | 10.42B | 7.74B | 5.99B | 5.89B | 5.55B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 159.66B | 136.92B | 132.89B | 124.34B | 118.85B |
| Cash, Cash Equivalents and Short-Term Investments | 5.59B | 5.61B | 5.08B | 6.00B | 3.66B | 4.13B |
| Total Debt | 0.00 | 34.73B | 24.75B | 11.55B | 9.26B | 12.55B |
| Total Liabilities | -101.69B | 57.98B | 45.22B | 47.33B | 43.33B | 48.76B |
| Stockholders Equity | 101.69B | 98.96B | 89.17B | 76.63B | 72.42B | 61.78B |
Cash Flow | ||||||
| Free Cash Flow | 800.30M | 4.39B | 5.77B | 1.58B | 3.75B | 6.50B |
| Operating Cash Flow | 6.76B | 13.84B | 14.24B | 11.00B | 8.22B | 8.65B |
| Investing Cash Flow | -9.86B | -15.83B | -7.79B | -8.86B | -3.74B | -5.14B |
| Financing Cash Flow | 2.46B | 4.26B | -7.14B | -864.58M | -4.71B | -5.17B |
Fortis Healthcare Ltd. Technical Analysis
Negative
921.60
Price Trends
933.42
Negative
945.36
Negative
912.10
Negative
Market Momentum
-8.42
Positive
36.86
Neutral
22.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FORTIS, the sentiment is Negative. The current price of 921.6 is above the 20-day moving average (MA) of 911.66, below the 50-day MA of 933.42, and above the 200-day MA of 912.10, indicating a bearish trend. The MACD of -8.42 indicates Positive momentum. The RSI at 36.86 is Neutral, neither overbought nor oversold. The STOCH value of 22.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:FORTIS.
Fortis Healthcare Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹389.21B | 69.91 | ― | 0.07% | 21.27% | 4.09% | |
64 Neutral | ₹665.04B | 123.67 | ― | 0.52% | 15.70% | -2.76% | |
62 Neutral | ₹381.61B | 46.59 | ― | 0.24% | 57.80% | 4.07% | |
60 Neutral | ₹669.87B | 63.96 | ― | 0.11% | 17.50% | 20.65% | |
59 Neutral | ₹1.27T | 60.80 | ― | 0.23% | 17.20% | 32.79% | |
55 Neutral | ₹1.01T | 69.32 | ― | 0.19% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:FORTIS
Fortis Healthcare Ltd.
887.30
-88.91
-9.11%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
8,850.00
1,053.60
13.51%
IN:ASTERDM
Aster DM Healthcare Ltd.
762.95
144.85
23.43%
IN:MAXHEALTH
Max Healthcare Institute Ltd
1,037.20
-135.47
-11.55%
IN:MEDANTA
Global Health Limited
1,447.55
121.02
9.12%
IN:NH
Narayana Hrudayalaya Ltd.
1,867.35
99.38
5.62%
Fortis Healthcare Ltd. Corporate Events
Fortis Subsidiary Agilus Diagnostics Moves to Merge Pathlab Units in Intra-Group Restructuring
Aug 5, 2026
Fortis Healthcare’s material subsidiary Agilus Diagnostics Limited has approved an intra-group restructuring that will merge its wholly owned subsidiaries, Agilus Pathlabs Private Limited and DDRC Agilus Pathlabs Limited, into Agilus Diagnos...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.