MRF vs Apollo Tyres vs CEAT: Which Stock Should You Track
- September 23, 2026
- Posted by: Harsh Piplani
- Category: Market
MRF PE 21.89, mkt cap Rs 52,921 crore. Apollo Tyres PE 14.96, mkt cap Rs 25,563 crore. CEAT PE 23.35, mkt cap Rs 13,758 crore.
Quick Answer
MRF vs Apollo Tyres vs CEAT is a side-by-side comparison of three companies from the Tyres space. On this comparison, MRF carries a market capitalisation of about Rs 52,921 crore against Rs 25,563 crore for Apollo Tyres and Rs 13,758 crore for CEAT, with return on equity of 11.57%, 12.39% and 13.83% respectively. Each company’s numbers are presented here without a declared better pick, since the right stock depends on an investor’s own criteria.
MRF vs Apollo Tyres vs CEAT starts with the core numbers most investors compare within the Tyres segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of September 2026 and will shift with daily price moves.
All three names sit in the Tyres bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.
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MRF, Apollo Tyres and CEAT: Company Overview
MRF is a listed Indian company in the Tyres space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Apollo Tyres is a listed Indian company in the Tyres space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
CEAT is a listed Indian company in the Tyres space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
MRF vs Apollo Tyres vs CEAT: Valuation and Profitability Snapshot
| Metric | MRF | Apollo Tyres | CEAT |
|---|---|---|---|
| Market Cap (approx.) | Rs 52,921 crore | Rs 25,563 crore | Rs 13,758 crore |
| PE Ratio (TTM) | 21.89 | 14.96 | 23.35 |
| PB Ratio | 2.52 | 1.52 | 2.71 |
| Return on Equity (ROE) | 11.57% | 12.39% | 13.83% |
| EPS (TTM, Rs) | 5700.92 | 26.90 | 145.64 |
| Dividend Yield | 0.19% | 1.49% | 1.03% |
| Debt to Equity | 0.15 | 0.22 | 0.65 |
| Book Value per Share (Rs) | 49454.97 | 264.92 | 1257.21 |
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On valuation, MRF trades at a PE of 21.89 and a PB of 2.52, Apollo Tyres at a PE of 14.96 and a PB of 1.52, while CEAT trades at a PE of 23.35 and a PB of 2.71. On return on equity, the three post 11.57%, 12.39% and 13.83% respectively, and on dividend yield they stand at 0.19%, 1.49% and 1.03%.
MRF vs Apollo Tyres vs CEAT: Latest Quarterly Results
| Company | Latest Quarter Revenue | Latest Quarter Net Profit | YoY Change (Revenue) | QoQ Change (Revenue) |
|---|---|---|---|---|
| MRF | Rs 8,610.56 crore | Rs 495.35 crore | +10.3% | +5.2% |
| Apollo Tyres | Rs 7,456.12 crore | Rs 348.87 crore | +13.3% | +1.2% |
| CEAT | Rs 4,324.00 crore | Rs -1.00 crore | +22.4% | +1.9% |
Quarterly figures above are the most recent reported quarter for each company (Q1 FY28, quarter ended June 2026), compared with the year-ago and preceding quarter.
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What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three tyres names should track quarter-on-quarter revenue and margin trends, management commentary on demand and input costs, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.
Conclusion
MRF vs Apollo Tyres vs CEAT highlights how differently three companies in the same tyres segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; 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).
FAQs on MRF vs Apollo Tyres vs CEAT
What is the market cap difference between MRF, Apollo Tyres and CEAT?
Ans. As of September 2026, MRF has a market cap of approximately Rs 52,921 crore, Apollo Tyres is at approximately Rs 25,563 crore, and CEAT is at approximately Rs 13,758 crore.
Which of the three has the highest PE ratio?
Ans. Among MRF, Apollo Tyres and CEAT, the PE ratios stand at 21.89, 14.96 and 23.35 respectively as of September 2026.
Which of the three has the highest ROE?
Ans. MRF, Apollo Tyres and CEAT post ROE of 11.57%, 12.39% and 13.83% respectively as of September 2026.
Which of these three stocks pays the highest dividend yield?
Ans. MRF, Apollo Tyres and CEAT carry dividend yields of 0.19%, 1.49% and 1.03% respectively.
What is the debt to equity ratio for MRF, Apollo Tyres and CEAT?
Ans. MRF carries a debt to equity of 0.15, Apollo Tyres of 0.22, and CEAT of 0.65.
Which of the three trades at the highest price to book value?
Ans. MRF, Apollo Tyres and CEAT trade at price to book ratios of 2.52, 1.52 and 2.71 respectively.
Is one of MRF, Apollo Tyres or CEAT better than the others?
Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.
