Top Hospital Stocks Compared: Apollo Hospitals vs Max Healthcare vs Fortis Healthcare vs Narayana Hrudayalaya vs Rainbow Children’s Medicare on Price, Valuation, Q2 FY27 Results and Risks
- November 6, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
Previous close: Apollo Hospitals Rs 8,371.00, Max Healthcare Rs 932.00, Fortis Healthcare Rs 819.80, Narayana Hrudayalaya Rs 1,915.50, Rainbow Children’s Medicare Rs 1,262.00.
Quick Answer
This hospital stocks compared snapshot checks five names on price, valuation and Q2 FY27 results: Apollo Hospitals, Max Healthcare, Fortis Healthcare, Narayana Hrudayalaya and Rainbow Children’s Medicare. Apollo Hospitals is the largest by market capitalisation at Rs 1,20,190 crore. Apollo Hospitals reports the highest return on equity at 21.14%. Premium multiples are common among hospital chains, so check whether returns and bed growth support each one.
Hospital stocks compared here means Apollo Hospitals, Max Healthcare, Fortis Healthcare, Narayana Hrudayalaya and Rainbow Children’s Medicare on one page, checked on previous close, market value, valuation and the latest quarterly numbers. All five run hospitals, but they differ in size, region and the kind of care they focus on, which is exactly why a side-by-side look is useful.
All five hospital companies have filed their September 2026 quarter, so every result below is Q2 FY27. Hospital names tend to trade as steady growth stories, so a glance at the Nifty 50 page and the Sensex page before you read the tables gives useful backdrop.
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Hospital Stocks Compared: The Five Chains on the List
The hospital stocks compared here are Apollo Hospitals, Max Healthcare, Fortis Healthcare, Narayana Hrudayalaya and Rainbow Children’s Medicare. Apollo Hospitals is the largest by market capitalisation at Rs 1,20,190 crore. Previous closes run from Rs 819.80 for Fortis Healthcare to Rs 8,371.00 for Apollo Hospitals, which is why a side-by-side look at value rather than price is more useful. This hospital stocks compared list is the base for every table that follows.
| Stock | Previous close (Rs) | Market cap (Rs crore) |
|---|---|---|
| Apollo Hospitals | 8,371.00 | 1,20,190 |
| Max Healthcare | 932.00 | 90,519 |
| Fortis Healthcare | 819.80 | 61,907 |
| Narayana Hrudayalaya | 1,915.50 | 39,151 |
| Rainbow Children’s Medicare | 1,262.00 | 12,805 |
A quick look at the business behind each ticker puts the numbers in context. Apollo Hospitals runs one of the largest private hospital networks in the country and also has a pharmacy and digital health business, while Max Healthcare runs a network of large multi-speciality hospitals, mainly in north and west India. Fortis Healthcare operates a chain of hospitals and a diagnostics business across many cities, and Narayana Hrudayalaya is a hospital chain known for cardiac and multi-speciality care, with its base in Bengaluru. To compare hospital stocks properly, line up price to earnings, return on equity and occupancy before forming a view.
Rounding out the group, Rainbow Children’s Medicare runs hospitals for children and mothers, with a strong base in south India. A fair hospital stock comparison looks at what each company actually earns from, not only at the share price. Large chains and focused specialists belong in separate mental boxes whenever you compare hospital stocks fairly.
Hospital Stocks Valuation: Premium Multiples and Returns
Rainbow Children’s Medicare trades at the lowest price to earnings ratio in this group at 42.90. Apollo Hospitals reports the highest return on equity at 21.14%. Fortis Healthcare has the lowest price to book value at 6.26. These hospital stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this hospital stocks compared table: price to earnings and return on equity sit side by side so a high or low reading stands out at once.
| Stock | Price to earnings | Price to book | ROE (%) | Dividend yield (%) | Debt to equity |
|---|---|---|---|---|---|
| Apollo Hospitals | 51.42 | 11.33 | 21.14 | 0.24 | 0.77 |
| Max Healthcare | 65.59 | 7.99 | 12.18 | 0.22 | 0.33 |
| Fortis Healthcare | 57.83 | 6.26 | 10.53 | 0.12 | 0.35 |
| Narayana Hrudayalaya | 45.57 | 7.83 | 17.17 | 0.23 | 1.21 |
| Rainbow Children’s Medicare | 42.90 | 7.47 | 17.05 | 0.28 | 0.56 |
Hospital stocks often trade at premium price to earnings multiples because investors pay for long, steady growth in beds and patients. Return on equity and debt to equity help you judge whether a premium is earned and how comfortably a chain funds new hospitals. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple hospital stock comparison like this one is only as useful as the context behind it, which is why occupancy is worth checking as well.
In this group, price to earnings runs from 42.90 for Rainbow Children’s Medicare to 65.59 for Max Healthcare. Rainbow Children’s Medicare offers the highest dividend yield at 0.28%. The industry price to earnings for this group stands at 63.24, which is the benchmark each stock above can be read against. The industry price to earnings is a handy anchor: a hospital stock above it is priced for faster growth, and one below it is priced for steadier earnings. A well-built hospital stock comparison also notes that new hospitals take time to fill their beds. Run the same hospital stock comparison on your own watchlist and the pattern in these numbers will be easier to spot. Whenever you compare hospital stocks, note whether a premium is backed by returns or only by size.
Hospital Stocks Q2 FY27 Results: Revenue and Profit Check
All of the five hospital stocks compared have filed Q2 FY27 numbers. Narayana Hrudayalaya posted the fastest revenue growth at 73.6% year on year. Apollo Hospitals showed the sharpest rise in net profit at 33.5%. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. Treat the Q2 FY27 numbers in this hospital stocks compared review as a snapshot of one quarter, not a verdict on any hospital chain.
| Stock | Q2 FY27 revenue (Rs crore) | Q2 FY26 revenue (Rs crore) | Q2 FY27 net profit (Rs crore) | Q2 FY26 net profit (Rs crore) |
|---|---|---|---|---|
| Apollo Hospitals | 7,660 | 6,243 | 659.5 | 494.0 |
| Max Healthcare | 2,610 | 2,168 | ||
| Fortis Healthcare | 2,742 | 2,354 | ||
| Narayana Hrudayalaya | 2,896 | 1,668 | 301.1 | 258.5 |
| Rainbow Children’s Medicare | 556.1 | 453.0 | 83.9 | 75.6 |
Apollo Hospitals Results Snapshot
Apollo Hospitals reported Q2 FY27 revenue of Rs 7,660 crore, compared with Rs 6,243 crore a year earlier, a rise of 22.7%. Net profit rose 33.5% to Rs 659.5 crore from Rs 494.0 crore. Operating margin expanded to 16.4% from 15.8% a year ago. Earnings per share for the quarter rose to Rs 43.79 from Rs 33.20.
Max Healthcare Results Snapshot
In the September 2026 quarter, Max Healthcare booked revenue of Rs 2,610 crore against Rs 2,168 crore in the same quarter last year, a rise of 20.4%.
Fortis Healthcare Results Snapshot
Fortis Healthcare’s Q2 FY27 top line stood at Rs 2,742 crore, versus Rs 2,354 crore in Q2 FY26, a rise of 16.5%.
Narayana Hrudayalaya Results Snapshot
Narayana Hrudayalaya reported Q2 FY27 revenue of Rs 2,896 crore, compared with Rs 1,668 crore a year earlier, a rise of 73.6%. Net profit rose 16.5% to Rs 301.1 crore from Rs 258.5 crore. Earnings per share for the quarter rose to Rs 14.82 from Rs 12.72.
Rainbow Children’s Medicare Results Snapshot
In the September 2026 quarter, Rainbow Children’s Medicare booked revenue of Rs 556.1 crore against Rs 453.0 crore in the same quarter last year, a rise of 22.8%. Net profit rose 10.9% to Rs 83.9 crore from Rs 75.6 crore. Earnings per share for the quarter rose to Rs 8.10 from Rs 7.41.
Hospital results depend on occupancy, revenue per bed and how quickly new beds fill up, so profit can look different from revenue in a single quarter. That is why a hospital stock comparison works best when revenue and profit are read together across two or three quarters. Used this way, a hospital stocks compared review becomes a map of the sector rather than a price list. When you compare hospital stocks after each result season, track how occupancy changes from one quarter to the next. A hospital stock comparison built on one quarter of data is a starting point, and the next set of results will update it.
Hospital Stocks Compared Two at a Time: Three Pairings
Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare hospital stocks two at a time.
Apollo Hospitals vs Max Healthcare
Apollo Hospitals and Max Healthcare are two of the largest private hospital chains in the country, so they are the natural pair for anyone who wants scale in this sector. Apollo Hospitals is about 1.3 times the size of Max Healthcare by market capitalisation, at Rs 1,20,190 crore against Rs 90,519 crore. On price to earnings, Apollo Hospitals carries the lower multiple at 51.42 against 65.59 for Max Healthcare. Apollo Hospitals reports the higher return on equity, at 21.14% against 12.18% for Max Healthcare. Because both are adding beds, expansion plans and occupancy will matter more to their next few results than any single quarter.
Fortis Healthcare vs Narayana Hrudayalaya
Fortis Healthcare and Narayana Hrudayalaya both run multi-speciality hospitals, with Narayana known for cardiac care and a strong base in Bengaluru. On price to earnings, Narayana Hrudayalaya carries the lower multiple at 45.57 against 57.83 for Fortis Healthcare. Narayana Hrudayalaya reports the higher return on equity, at 17.17% against 10.53% for Fortis Healthcare. For dividend income, Narayana Hrudayalaya offers 0.23% against 0.12% at Fortis Healthcare. Both are growing their bed counts, so read valuation next to returns before you judge either multiple.
Rainbow Children’s Medicare vs Apollo Hospitals
Rainbow Children’s Medicare focuses on children and mothers, while Apollo Hospitals runs a broad network that also includes pharmacies and digital health. Apollo Hospitals reports the higher return on equity, at 21.14% against 17.05% for Rainbow Children’s Medicare. For dividend income, Rainbow Children’s Medicare offers 0.28% against 0.24% at Apollo Hospitals. In Q2 FY27, Rainbow Children’s Medicare grew revenue faster, at 22.8% year on year against 22.7% for Apollo Hospitals. A focused specialist and a diversified leader are priced differently, so read the business mix before you read the ratio.
Best Hospital Stocks for Each Type of Investor
If you are asking which of the best hospital stocks here suits you, the answer depends on what you value. The table below shows who leads on each measure today, which is the fairest way to answer without naming a single winner. Any hospital stocks compared table can mislead if you stop at one row, because each hospital chain leads on a different measure.
| If you care most about | Start your research with | The number |
|---|---|---|
| Lowest price to earnings | Rainbow Children’s Medicare | 42.90 |
| Highest return on equity | Apollo Hospitals | 21.14% |
| Highest dividend yield | Rainbow Children’s Medicare | 0.28% |
| Lowest price to book value | Fortis Healthcare | 6.26 |
| Largest by market capitalisation | Apollo Hospitals | Rs 1,20,190 crore |
| Fastest Q2 FY27 revenue growth | Narayana Hrudayalaya | 73.6% |
| Sharpest Q2 FY27 net profit rise | Apollo Hospitals | 33.5% |
No single name tops every row, which is exactly why a hospital stock comparison helps. Scale, returns, valuation and balance sheet strength each point to a different chain, so decide what matters most to you before you rank the numbers.
What Is Driving Demand for Hospital Services Right Now?
A growing and ageing population, rising health insurance cover and higher spending on specialised care keep demand for quality hospital beds strong. Large chains also gain from medical travel and a steady shift from small nursing homes to branded hospitals. Knowing what moves bed additions and occupancy helps you compare hospital stocks with the right questions in mind.
Occupancy, average revenue per occupied bed and operating margin decide how much each hospital earns, while new beds and new hospitals set the pace of growth. Chains that add capacity in markets with unmet demand can grow faster than the sector. A good hospital stocks compared routine therefore tracks occupancy, revenue per bed, new bed additions and operating margin.
Risks to Weigh When You Compare Hospital Stocks
Hospital stocks usually trade at premium multiples, which leaves less room for slips in occupancy or margins. New hospitals also take time to ramp up, and rules on pricing or insurance payouts can affect revenue. Read the commentary on beds, occupancy and expansion in each filing before you compare them. Every hospital stock comparison has blind spots, and for this group the biggest is bed additions and occupancy. A thoughtful hospital stocks compared review keeps these risks next to the numbers instead of in a footnote.
Because occupancy, revenue per bed, new bed additions and operating margin drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this hospital stocks compared guide a balanced starting point.
How to Compare Hospital Stocks and Build a Shortlist
Start by deciding whether you want the scale of a national chain, the regional depth of a multi-speciality group or the focus of a children and maternity specialist, because each responds to different triggers. Large chains reward readers who track bed additions, while specialists reward those who track occupancy. Done step by step, this hospital stocks compared routine becomes repeatable rather than a one-off exercise.
Then check valuation and debt, because premium multiples leave less room for slips and new hospitals are funded with capital. Spreading your attention across one large chain and one focused name is a simple way to see both sides of the sector. Keep the shortlist of best hospital stocks short enough that you can actually follow each company’s quarterly results. When you compare hospital stocks again after new results, update only the rows that changed instead of starting over.
The Univest stock screener lets you filter hospital stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this hospital stocks compared page after the next set of results to see which numbers have moved.
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Conclusion: Hospital Stocks Compared at a Glance
This hospital stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. Apollo Hospitals leads on both size and return on equity, though the others bring strengths of their own. Treat the hospital stocks Q2 FY27 results and hospital stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare hospital stocks again next quarter, the same checklist of price to earnings, return on equity and occupancy will work.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Hospital Stocks Compared
Which are the top hospital stocks compared in this article?
Ans. The hospital stocks compared in this article are Apollo Hospitals, Max Healthcare, Fortis Healthcare, Narayana Hrudayalaya and Rainbow Children’s Medicare. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, so you get a clear side-by-side starting point before you open any single company’s filings in more depth.
Which hospital stock has the highest market capitalisation?
Ans. Among the five names, Apollo Hospitals has the highest market capitalisation at Rs 1,20,190 crore. Max Healthcare follows at Rs 90,519 crore. Market capitalisation is the total value the market places on a company and moves with the share price every day, so check the live figure before you rely on it.
Which of these hospital stocks has the lowest price to earnings ratio?
Ans. On hospital stocks valuation, Rainbow Children’s Medicare has the lowest price to earnings ratio among these hospital stocks at 42.90, based on the latest reported earnings. Max Healthcare sits at the other end at 65.59. A lower multiple is not automatically better, since growth, margins and business quality all influence what investors are willing to pay.
Which hospital stock has the highest return on equity?
Ans. Apollo Hospitals reports the highest return on equity in this group at 21.14%. Return on equity shows how much profit a company earns on shareholder funds, so a higher figure usually points to efficient use of capital. Compare it over several years, and keep debt levels in mind, because heavy borrowing can lift the ratio.
How did hospital stocks perform in Q2 FY27 results?
Ans. All of the five names have filed Q2 FY27 numbers in our data. Narayana Hrudayalaya recorded the fastest revenue growth at 73.6% year on year. Apollo Hospitals showed the sharpest net profit rise at 33.5%. For hospital stocks Q2 FY27 results, each filing on the exchange website carries the full detail behind these figures.
What are the main risks when you compare hospital stocks?
Ans. Hospital stocks usually trade at premium multiples, which leaves less room for slips in occupancy or margins. New hospitals also take time to ramp up, and rules on pricing or insurance payouts can affect revenue. Read the commentary on beds, occupancy and expansion in each filing before you compare them. Keep an eye on occupancy, revenue per bed, new bed additions and operating margin.
Which metrics matter most when you compare hospital stocks?
Ans. Occupancy, average revenue per occupied bed and operating margin matter most for operating performance, and new bed additions show how fast a chain is growing. On the market side, price to earnings, return on equity and debt to equity show what you pay and how expansion is funded. Read each company’s filing for these along with the numbers in this article.
Which is the best hospital stock to buy among these five?
Ans. The best hospital stock depends on whether you value scale, regional depth or a focused specialty, because the five chains differ on all three. On the numbers in this article, Apollo Hospitals has the largest market capitalisation as well as the highest return on equity; Rainbow Children’s Medicare has the lowest price to earnings as well as the highest dividend yield. No single stock tops every measure, and none of this is a recommendation. Use the tables to build a shortlist, check the latest filings, and speak to a SEBI-registered advisor before you decide, since your goals, time horizon and risk appetite matter more than any ranking.
