Max Healthcare InstituteNSE:MAXHEALTH -1.25%91 Piotroski F-Score is 6 as of Jul. 08, 2026, which is at its 10-year median of 6.00. GuruFocus rates NSE:MAXHEALTH with a GF Score™ of 91/100 and a GF Value™ of ₹1,428.05 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 649 Healthcare Providers & Services companies, Max Healthcare Institute ranks better than 75.04% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Max Healthcare Institute has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Max Healthcare Institute's Piotroski F-Score or its related term are showing as below:
NSE:MAXHEALTH'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 6
During the past 12 years, the highest Piotroski F-Score of Max Healthcare Institute was 8. The lowest was 3. And the median was 6.
Max Healthcare Institute (NSE:MAXHEALTH) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Max Healthcare Institute Piotroski F-Score Related Terms
Max Healthcare Institute Piotroski F-Score Historical Data
* 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.
NSE:MAXHEALTH vs HCA, THC, DVA: Piotroski F-Score Comparison
For the Medical Care Facilities subindustry, Max Healthcare Institute's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Max Healthcare Institute's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Max Healthcare Institute's Piotroski F-Score falls into.
* 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Max Healthcare Institute's current Net Income (TTM) was 14,424.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Max Healthcare Institute's current Cash Flow from Operations (TTM) was 16,333.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Max Healthcare Institute's return on assets of this year was 0.09480508. Max Healthcare Institute's return on assets of last year was 0.08965711.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Max Healthcare Institute's gearing of this year was 0.18356859. Max Healthcare Institute's gearing of last year was 0.20339291.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Max Healthcare Institute's current ratio of this year was 0.88927451. Max Healthcare Institute's current ratio of last year was 0.87804407.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Max Healthcare Institute's number of shares in issue this year was 977.243. Max Healthcare Institute's number of shares in issue last year was 977.184.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Max Healthcare Institute's gross margin of this year was 0.7862267. Max Healthcare Institute's gross margin of last year was 0.78984728.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Max Healthcare Institute's asset turnover of this year was 0.55036058. Max Healthcare Institute's asset turnover of last year was 0.58570793.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Max Healthcare Institute has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Max Healthcare Institute (NSE:MAXHEALTH) has a Piotroski F-Score of 6 as of Jul. 08, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Max Healthcare Institute and its competitors. This is near median its historical median of 6.00. Over the past decade, Max Healthcare Institute's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Max Healthcare Institute ranks #162 out of 649 companies in the Healthcare Providers & Services industry, placing it in the top 25%.
Is Max Healthcare Institute's Piotroski F-Score too high?
Max Healthcare Institute's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Max Healthcare Institute's value of 6 is 20% above this industry median. Based on the distribution chart, Max Healthcare Institute ranks #162 out of 649 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Max Healthcare Institute has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Max Healthcare Institute's Piotroski F-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Max Healthcare Institute ranks #162 out of 649 companies for Piotroski F-Score. This places Max Healthcare Institute in the top 25% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Max Healthcare Institute's value of 6 is 20% above this benchmark. Historically, Max Healthcare Institute's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, 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 Piotroski F-Score for a Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 649 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Max Healthcare Institute's current Piotroski F-Score of 6 is 20% 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Max Healthcare Institute and its competitors. For the Healthcare Providers & Services industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Max Healthcare Institute's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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 ₹1,428.05, compared to a current price of ₹1,118.40 — trading 21.7% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Healthcare Providers & Services industry median of 5.00. Max Healthcare Institute's overall GF Score™ is 91/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Max Healthcare Institute (NSE:MAXHEALTH), the current Piotroski F-Score is 6 as of Jul. 08, 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 ₹1,118.40 is trading 21.7% below its estimated GF Value™ of ₹1,428.05.
GuruFocus considers Max Healthcare Institute to be Modestly Undervalued.
Key valuation signals for NSE:MAXHEALTH:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: ₹1,428.05 vs. price of ₹1,118.40 (21.7% below fair value)
Industry Position: 20% above the Healthcare Providers & Services median (#162 of 649)
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.
91GF Score
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