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Max Healthcare InstituteNSE:MAXHEALTH -0.09%93 Cyclically Adjusted PB Ratio is 16.54 as of Sep. 15, 2026, which is 15% below its 10-year median of 19.35. GuruFocus rates NSE:MAXHEALTH with a GF Score™ of 93/100 and a GF Value™ of ₹1,471.91 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 332 Healthcare Providers & Services companies, Max Healthcare Institute ranks worse than 97.59% on this metric.
The historical rank and industry rank for Max Healthcare Institute's Cyclically Adjusted PB Ratio or its related term are showing as below:
NSE:MAXHEALTH'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 15.07 Med: 19.35 Max: 24.83
Current: 16.55
During the past 10 years, Max Healthcare Institute's highest Cyclically Adjusted PB Ratio was 24.83. The lowest was 15.07. And the median was 19.35.
NSE:MAXHEALTH's Cyclically Adjusted PB Ratio is ranked worse than 97.59% of 332
companies
in the Healthcare Providers & Services industry
Industry Median: 1.79
vs NSE:MAXHEALTH: 16.55
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Max Healthcare Institute's adjusted book value per share data of for the fiscal year that ended in Mar26 was ₹110.433. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ₹62.73 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
Max Healthcare Institute (NSE:MAXHEALTH) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Max Healthcare Institute Cyclically Adjusted PB Ratio Related Terms
Max Healthcare Institute Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Max Healthcare Institute's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Max Healthcare Institute Cyclically Adjusted PB Ratio Chart
NSE:MAXHEALTH vs HCA, THC, EHC: Cyclically Adjusted PB Ratio Comparison
For the Medical Care Facilities subindustry, Max Healthcare Institute's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Max Healthcare Institute Cyclically Adjusted PB Ratio vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Max Healthcare Institute's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Max Healthcare Institute's Cyclically Adjusted PB Ratio falls into.
Max Healthcare Institute Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 16.54 mean?
Max Healthcare Institute (NSE:MAXHEALTH) has a Cyclically Adjusted PB Ratio of 16.54 as of Sep. 15, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Max Healthcare Institute and its competitors. This is 15% below median its historical median of 19.35. Over the past decade, Max Healthcare Institute's Cyclically Adjusted PB Ratio has ranged from 15.07 to 24.83. According to the industry distribution chart, Max Healthcare Institute ranks #324 out of 332 companies in the Healthcare Providers & Services industry, placing it in the top 97.6%.
Is Max Healthcare Institute's Cyclically Adjusted PB Ratio too high?
Max Healthcare Institute's current Cyclically Adjusted PB Ratio of 16.54 is 15% below median its 10-year median of 19.35. Over the past 10 years, this metric has ranged from a low of 15.07 to a high of 24.83. The Healthcare Providers & Services industry median Cyclically Adjusted PB Ratio is 1.79. Max Healthcare Institute's value of 16.54 is 824% above this industry median. Based on the distribution chart, Max Healthcare Institute ranks #324 out of 332 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Max Healthcare Institute has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Max Healthcare Institute's Cyclically Adjusted PB Ratio compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Max Healthcare Institute ranks #324 out of 332 companies for Cyclically Adjusted PB Ratio. This places Max Healthcare Institute in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.79. Max Healthcare Institute's value of 16.54 is 824% above this benchmark. Historically, Max Healthcare Institute's own Cyclically Adjusted PB Ratio has ranged from 15.07 to 24.83 over the past decade. While the company's 10-year median is 19.35 vs. the industry median of 1.79, Max Healthcare Institute has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Healthcare Providers & Services company?
The median Cyclically Adjusted PB Ratio among Healthcare Providers & Services companies is 1.79, based on 332 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Max Healthcare Institute's current Cyclically Adjusted PB Ratio of 16.54 is 824% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Max Healthcare Institute and its competitors. For the Healthcare Providers & Services industry, the median Cyclically Adjusted PB Ratio is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Max Healthcare Institute's current Cyclically Adjusted PB Ratio is 16.54, which is 15% below median its own 10-year median of 19.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Max Healthcare Institute stock overvalued right now?
Based on GuruFocus' analysis, Max Healthcare Institute (NSE:MAXHEALTH) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,471.91, compared to a current price of ₹1,037.70 — trading 29.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 16.54, which is 15% below median its 10-year median of 19.35 and 824% above the Healthcare Providers & Services industry median of 1.79. Max Healthcare Institute's overall GF Score™ is 93/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Max Healthcare Institute (NSE:MAXHEALTH), the current Cyclically Adjusted PB Ratio is 16.54 as of Sep. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Max Healthcare Institute (NSE:MAXHEALTH) Overvalued in 2026?
Based on GuruFocus' analysis, Max Healthcare Institute stock appears to be undervalued.
The current stock price of ₹1,037.70 is trading 29.5% below its estimated GF Value™ of ₹1,471.91.
GuruFocus considers Max Healthcare Institute to be Modestly Undervalued.
Key valuation signals for NSE:MAXHEALTH:
Cyclically Adjusted PB Ratio: 16.54 (15% below median its 10-year median of 19.35)
GF Value™: ₹1,471.91 vs. price of ₹1,037.70 (29.5% below fair value)
Industry Position: 824% above the Healthcare Providers & Services median (#324 of 332)
No single metric tells the full story. See the NSE:MAXHEALTH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Max Healthcare Institute Ltd is a health care service provider. The company's facilities include third-party healthcare providers with whom the company has entered long-term service contracts for providing clinical, radiology, and pathology services. Its hospitals provide the full range of services through its Outpatient, Day Care, Emergency Room, and In-Patient departments to accommodate medical specialties such as orthopedics, internal medicine, general surgery, cardiac sciences, oncology, neurosciences, and obstetrics, as well as diagnostics. The group derives revenue from India.
93GF Score
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