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Fortis Healthcare

NSEI:FORTIS
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FORTIS
NSEI
₹102B
Market Cap
  1. Home
  2. IN
  3. Healthcare
Company description

Fortis Healthcare Limited owns, manages, and operates a network of multi-specialty hospitals and diagnostic centers in India and internationally. The last earnings update was 5 days ago. More info.


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FORTIS Share Price and Events
7 Day Returns
0.2%
NSEI:FORTIS
-4.2%
IN Healthcare
-2.4%
IN Market
1 Year Returns
-7.8%
NSEI:FORTIS
-12%
IN Healthcare
-9%
IN Market
FORTIS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fortis Healthcare (FORTIS) 0.2% -0.4% -8.5% -7.8% -20.6% 42.8%
IN Healthcare -4.2% -7.8% -4.3% -12% -15.7% 36.2%
IN Market -2.4% -4.1% -4% -9% 41.6% 79.8%
1 Year Return vs Industry and Market
  • FORTIS outperformed the Healthcare industry which returned -12% over the past year.
  • FORTIS outperformed the Market in India which returned -9% over the past year.
Price Volatility
FORTIS
Industry
5yr Volatility vs Market

FORTIS Value

 Is Fortis Healthcare undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Fortis Healthcare to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fortis Healthcare.

NSEI:FORTIS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:FORTIS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.462 (1 + (1- 35%) (18.12%))
0.516
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 7.45%)
13.51%

Discounted Cash Flow Calculation for NSEI:FORTIS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fortis Healthcare is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:FORTIS DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) -35,954.00 1,748.00 4,741.33 5,022.89 5,321.17
Source Analyst x1 Analyst x1 Analyst x3 Est @ 5.94% Est @ 5.94%
Present Value
Discounted (@ 13.51%)
-31,674.74 1,356.67 3,241.89 3,025.64 2,823.82
Present value of next 5 years cash flows ₹-21,226.73
NSEI:FORTIS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹5,321.17 × (1 + 7.55%) ÷ (13.51% – 7.55%)
₹96,022.15
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹96,022.15 ÷ (1 + 13.51%)5
₹50,956.64
NSEI:FORTIS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹-21,226.73 + ₹50,956.64
₹29,729.91
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹29,729.91 / 754.95
₹39.38
NSEI:FORTIS Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹39.38
Current discount Discount to share price of ₹134.95
= -1 x (₹134.95 - ₹39.38) / ₹39.38
-242.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Fortis Healthcare is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Fortis Healthcare's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fortis Healthcare's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:FORTIS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹-24.82
BSE:532843 Share Price ** BSE (2019-02-15) in INR ₹134.95
India Healthcare Industry PE Ratio Median Figure of 23 Publicly-Listed Healthcare Companies 25.72x
India Market PE Ratio Median Figure of 2,718 Publicly-Listed Companies 15.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Fortis Healthcare.

NSEI:FORTIS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:532843 Share Price ÷ EPS (both in INR)

= 134.95 ÷ -24.82

-5.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fortis Healthcare is loss making, we can't compare its value to the IN Healthcare industry average.
  • Fortis Healthcare is loss making, we can't compare the value of its earnings to the India market.
Price based on expected Growth
Does Fortis Healthcare's expected growth come at a high price?
Raw Data
NSEI:FORTIS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
66.5%per year
Asia Healthcare Industry PEG Ratio Median Figure of 13 Publicly-Listed Healthcare Companies 1.87x
India Market PEG Ratio Median Figure of 606 Publicly-Listed Companies 1.1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Fortis Healthcare, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fortis Healthcare's assets?
Raw Data
NSEI:FORTIS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹74.33
BSE:532843 Share Price * BSE (2019-02-15) in INR ₹134.95
India Healthcare Industry PB Ratio Median Figure of 32 Publicly-Listed Healthcare Companies 1.89x
India Market PB Ratio Median Figure of 3,587 Publicly-Listed Companies 1.04x
NSEI:FORTIS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532843 Share Price ÷ Book Value per Share (both in INR)

= 134.95 ÷ 74.33

1.82x

* Primary Listing of Fortis Healthcare.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fortis Healthcare is good value based on assets compared to the IN Healthcare industry average.
X
Value checks
We assess Fortis Healthcare's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. Fortis Healthcare has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FORTIS Future Performance

 How is Fortis Healthcare expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
66.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fortis Healthcare expected to grow at an attractive rate?
  • Fortis Healthcare's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Fortis Healthcare's earnings growth is expected to exceed the India market average.
  • Fortis Healthcare's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:FORTIS Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:FORTIS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 66.5%
NSEI:FORTIS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 12.8%
India Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 43.3%
India Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:FORTIS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:FORTIS Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 6,352
2022-03-31 4,802
2021-03-31 56,531 8,765 3,079 4
2020-03-31 49,618 6,278 783 4
2019-03-31 43,655 1,860 -3,383 3
NSEI:FORTIS Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 43,716 -13,666
2018-09-30 43,890 -12,062
2018-06-30 44,462 -10,853
2018-03-31 45,608 5,536 -10,092
2017-12-31 45,979 -1,450
2017-09-30 46,106 3,337
2017-06-30 46,092 4,108
2017-03-31 45,737 9,665 4,217
2016-12-31 45,334 3,453
2016-09-30 44,525 -1,267
2016-06-30 43,434 -1,028
2016-03-31 41,989 1,947 164

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fortis Healthcare's earnings are expected to grow significantly at over 20% yearly.
  • Fortis Healthcare's revenue is expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:FORTIS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Fortis Healthcare Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:FORTIS Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31
2022-03-31
2021-03-31 4.41 6.10 2.71 3.00
2020-03-31 1.76 3.20 0.40 3.00
2019-03-31 -2.02 -2.02 -2.02 1.00
NSEI:FORTIS Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 -24.82
2018-09-30 -23.23
2018-06-30 -21.02
2018-03-31 -19.46
2017-12-31 -2.82
2017-09-30 6.62
2017-06-30 7.77
2017-03-31 8.87
2016-12-31
2016-09-30 -2.74
2016-06-30 -2.22
2016-03-31 0.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Fortis Healthcare is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fortis Healthcare's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Fortis Healthcare has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FORTIS Past Performance

  How has Fortis Healthcare performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Fortis Healthcare's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Fortis Healthcare does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Fortis Healthcare's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Fortis Healthcare's 1-year growth to the IN Healthcare industry average as it is not currently profitable.
Earnings and Revenue History
Fortis Healthcare's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Fortis Healthcare Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:FORTIS Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 43,715.90 -13,665.57 974.56
2018-09-30 43,889.70 -12,062.37 974.56
2018-06-30 44,462.40 -10,852.60
2018-03-31 45,608.10 -10,092.17 974.56
2017-12-31 45,978.65 -1,450.15 944.78
2017-09-30 46,105.95 3,336.65 944.78
2017-06-30 46,091.60 4,107.70
2017-03-31 45,737.15 4,216.65 944.78
2016-12-31 45,334.48 3,453.07 880.75
2016-09-30 44,525.38 -1,266.63 880.75
2016-06-30 43,434.08 -1,028.33 880.75
2016-03-31 41,988.87 163.66 997.66
2015-12-31 40,775.22 735.71 5,269.84
2015-09-30 40,618.22 1,065.71 5,269.84
2015-06-30 39,963.02 144.71 5,269.84
2015-03-31 39,658.62 -1,186.09 970.86
2014-12-31 29,310.86 -5,867.48 5,183.71
2014-09-30 29,217.86 -1,754.08 5,183.71
2014-06-30 42,076.00 2,980.40
2014-03-31 34,918.82 -2,188.14 4,863.49
2013-12-31 36,196.86 743.62 5,337.61
2013-09-30 41,420.86 3,903.12 5,337.61
2013-06-30 43,512.16 3,298.12 5,337.61
2013-03-31 30,423.36 4,849.98 4,204.20
2012-12-31 44,203.20 6,030.37 3,705.09
2012-09-30 47,789.37 -203.29 3,695.23
2012-06-30 39,012.77 -42.09 3,695.23
2012-03-31 26,176.72 634.22 3,393.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Fortis Healthcare has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Fortis Healthcare has efficiently used its assets last year compared to the IN Healthcare industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Fortis Healthcare improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Fortis Healthcare's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Fortis Healthcare has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FORTIS Health

 How is Fortis Healthcare's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Fortis Healthcare's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fortis Healthcare's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Fortis Healthcare's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fortis Healthcare's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Fortis Healthcare Company Filings, last reported 1 month ago.

NSEI:FORTIS Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 51,626.30 18,442.40 4,079.40
2018-09-30 51,626.30 18,442.40 4,079.40
2018-06-30 53,169.60 14,004.20 6,774.00
2018-03-31 53,169.56 19,621.96 4,822.23
2017-12-31 62,304.20 17,569.80 5,169.20
2017-09-30 62,304.20 17,569.80 5,169.20
2017-06-30 63,107.70 19,613.00 10,491.50
2017-03-31 63,107.65 22,196.17 9,379.39
2016-12-31 49,056.20 15,519.00 9,076.60
2016-09-30 49,056.20 15,519.00 9,076.60
2016-06-30 48,103.80 14,960.89 7,368.93
2016-03-31 48,528.10 15,135.56 7,333.34
2015-12-31 49,438.20 13,027.60 8,785.90
2015-09-30 49,438.20 13,027.60 8,785.90
2015-06-30 48,705.72 18,015.66 8,054.70
2015-03-31 48,705.72 18,015.66 8,054.70
2014-12-31 49,931.50 16,912.40 8,634.50
2014-09-30 49,931.50 16,912.40 8,634.50
2014-06-30 50,916.10 17,063.00 12,519.50
2014-03-31 50,916.24 19,133.38 12,519.54
2013-12-31 47,349.90 25,443.50 5,767.80
2013-09-30 47,349.90 25,443.50 5,767.80
2013-06-30 54,020.90 64,786.27 9,010.00
2013-03-31 54,020.90 64,754.07 9,010.00
2012-12-31 54,418.25 36,321.10 6,081.23
2012-09-30 43,238.30 55,192.00 4,182.50
2012-06-30 40,847.15 68,722.01 4,212.88
2012-03-31 40,871.30 68,869.67 4,209.57
  • Fortis Healthcare's level of debt (35.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (53.5% vs 35.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Fortis Healthcare has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Fortis Healthcare has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -55.9% per year.
X
Financial health checks
We assess Fortis Healthcare's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Fortis Healthcare has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FORTIS Dividends

 What is Fortis Healthcare's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Fortis Healthcare dividends. Estimated to be 0.04% next year.
If you bought ₹2,000 of Fortis Healthcare shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Fortis Healthcare's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Fortis Healthcare's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:FORTIS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
India Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:FORTIS Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2023-03-31
2022-03-31
2021-03-31 0.17 1.00
2020-03-31 0.05 1.00
2019-03-31 0.00 2.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Fortis Healthcare has not reported any payouts.
  • Unable to verify if Fortis Healthcare's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Fortis Healthcare's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Fortis Healthcare has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Fortis Healthcare's dividends in 3 years as they are not expected to pay a notable one for India.
X
Income/ dividend checks
We assess Fortis Healthcare's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Fortis Healthcare afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fortis Healthcare has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FORTIS Management

 What is the CEO of Fortis Healthcare's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bhavdeep Singh
COMPENSATION ₹117,649,833
AGE 56
TENURE AS CEO 3.5 years
CEO Bio

Mr Bhavdeep Singh is the Chief Executive Officer of Fortis Healthcare, this being his second stint as the Chief Executive Officer of the organization. At Fortis, Mr. Singh is driving a strong push towards bringing great patient care to every patient in every hospital, every single day. In addition to driving patient care, the clinical team at Fortis is driving clinical excellence on multiple fronts. At a time when the disease burden continues to grow in India, Mr Singh and the Fortis Healthcare team are taking the lead in helping India becoming a healthier nation. Mr Singh is an acknowledged business leader and a seasoned professional, with over 20 years of experience. He has held senior executive roles in Healthcare, Human Resources and Retail. He has worked across multiple geographies and has a strong track record of building great teams whilst delivering exceptional results. Prior to joining Fortis, Mr Bhavdeep Singh was with Ahold, a 26 USD billion retailer with almost 800 stores. He was with the company for almost five years and served on the company's executive board. While there, he was EVP of HR and then went on to head Ahold's US operations and the new formats business. In addition, prior to his initial stint at Fortis, Mr. Singh ran Reliance Retail in India and was at the helm when Reliance opened up more than 700 new stores in less than two years. Mr Singh attended Pace University and completed several certified courses in Leadership and Executive Management from premier institutions such as the Harvard Business School, Cornell University, University of Hartford, Dial Institute of Management and St. Joe's University in the United States.

CEO Compensation
  • Bhavdeep's compensation has been consistent with company performance over the past year.
  • Bhavdeep's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Fortis Healthcare management team in years:

1.9
Average Tenure
56
Average Age
  • The average tenure for the Fortis Healthcare management team is less than 2 years, this suggests a new team.
Management Team

Bhavdeep Singh

TITLE
Chief Executive Officer
COMPENSATION
₹118M
AGE
56
TENURE
3.5 yrs

Daljith Singh

TITLE
President
AGE
65

Girish Gupta

TITLE
Interim Chief Financial Officer
TENURE
0.3 yrs

Ashish Bhatia

TITLE
Chief Operating Officer
AGE
56

Aditya Vij

TITLE
Chief Information Officer
AGE
60
TENURE
0.3 yrs

Anurag Kalra

TITLE
Vice President of Investor Relations
TENURE
7.2 yrs

Sumit Goel

TITLE
Company Secretary & Compliance Officer

Ajey Maharaj

TITLE
Head Corporate Communication

Rajiv Puri

TITLE
Chief Internal Auditor
AGE
47

Varun Khanna

TITLE
Executive VP & Chief Commercial Officer
Board of Directors Tenure

Average tenure and age of the Fortis Healthcare board of directors in years:

0.3
Average Tenure
53
Average Age
  • The average tenure for the Fortis Healthcare board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ravi Rajagopal

TITLE
Chairman of the board
AGE
62
TENURE
0.7 yrs

Shirish Apte

TITLE
Vice Chairman of the Board
AGE
65
TENURE
0.2 yrs

Anoop Misra

TITLE
Director of Diabetes & Metabolism - Fortis Hospital and Chairman of Fortis C-Doc Healthcare Limited
COMPENSATION
₹13M
TENURE
8.1 yrs

Ashok Seth

TITLE
Chairman of Fortis Escorts Heart Institute

Suvalaxmi Chakraborty

TITLE
Independent Director
AGE
52
TENURE
0.8 yrs

Indrajit Banerjee

TITLE
Independent Director
AGE
62
TENURE
0.8 yrs

See Leng Tan

TITLE
Non Executive Director
AGE
53
TENURE
0.3 yrs

Soon Low

TITLE
Non Executive Director
AGE
53
TENURE
0.3 yrs

Boon Kheng Chan

TITLE
Non Executive Director
AGE
50
TENURE
0.3 yrs

Chinta Bhagat Aniruddha

TITLE
Non Executive Director
AGE
49
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Fortis Healthcare's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Fortis Healthcare has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FORTIS News

Simply Wall St News

A Look At The Intrinsic Value Of Fortis Healthcare Limited (NSE:FORTIS)

Today, I will calculate the stock's intrinsic value. … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Where Fortis Healthcare Limited's (NSE:FORTIS) Earnings Growth Stands Against Its Industry

After looking at Fortis Healthcare Limited's (NSE:FORTIS) latest earnings announcement (31 December 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … I also compare against an industry benchmark to check whether Fortis Healthcare's performance has been impacted by industry movements. … Check out our latest analysis for Fortis Healthcare?

Simply Wall St -

Should You Care About Fortis Healthcare Limited’s (NSE:FORTIS) Cash Levels?

Free cash flow (FCF) is the amount of cash Fortis Healthcare has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt The business reinvests all its cash profits as well as borrows more money, to maintain and grow the company. … In the next couple of years, Fortis Healthcare is expected to deliver a decline in operating cash flow compared to the most recent level, which is not an encouraging sign.

Simply Wall St -

Should You Buy Fortis Healthcare Limited (NSE:FORTIS) Now?

According to my valuation model, Fortis Healthcare seems to be fairly priced at around 20.00% below my intrinsic value, which means if you buy Fortis Healthcare today, you’d be paying a reasonable price for it. … Furthermore, it seems like Fortis Healthcare’s share price is quite stable, which means there may be less chances to buy low in the future now that it’s fairly valued. … FORTIS’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Estimating The Intrinsic Value Of Fortis Healthcare Limited (NSE:FORTIS)

5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF (₹, Millions) ₹137.80 ₹4,724.40 ₹6,352.25 ₹6,748.30 ₹7,169.04 Source Analyst x5 Analyst x5 Analyst x4 Extrapolated @ (6.23%) Extrapolated @ (6.23%) Present Value Discounted @ 13.4% ₹121.52 ₹3,673.84 ₹4,356.01 ₹4,080.77 ₹3,822.93 Present Value of 5-year Cash Flow (PVCF)= ₹16,055 The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = ₹7,169 × (1 + 7%) ÷ (13.4% – 7%) = ₹119,857 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = ₹119,857 / ( 1 + 13.4%)5 = ₹63,915 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is ₹79,970. … NSEI:FORTIS Intrinsic Value Mar 17th 18 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

Fortis Healthcare Limited's (NSE:FORTIS) Earnings Declined -142.00%, But How Did It Fare Against The Industry?

When Fortis Healthcare Limited (NSEI:FORTIS) announced its most recent earnings (31 December 2017), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … View our latest analysis for Fortis Healthcare Did FORTIS perform worse than its track record and industry? … Fortis Healthcare's track record can be a valuable insight into its earnings performance, but it certainly doesn't tell the whole story.

Simply Wall St -

What You Must Know About Fortis Healthcare Limited's (NSE:FORTIS) Financial Strength

How does FORTIS’s operating cash flow stack up against its debt? … Additionally, FORTIS has produced IN₨9.90B in operating cash flow during the same period of time, leading to an operating cash to total debt ratio of 44.61%, meaning that FORTIS’s debt is appropriately covered by operating cash. … In FORTIS's, case, the ratio of 0.57x suggests that interest is not strongly covered, which means that lenders may be more reluctant to lend out more funding as FORTIS’s low interest coverage already puts the company at higher risk of default.Next Steps: FORTIS’s high cash coverage and appropriate debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow.

Simply Wall St -

How Do Analysts See Fortis Healthcare Limited's (NSE:FORTIS) Margin Performing In The Next Few Years?

View our latest analysis for Fortis Healthcare A closer look at FORTIS's profit margin In general, the value that accrues to equity holders is partly reliant on the ability of a company to convert sales revenue in to earnings. … Margin Calculation for FORTIS Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 4.11 Billion ÷ 46.09 Billion = 8.91% Fortis Healthcare's margin has contracted in the past five years, with postive average revenue growth of 9.97% and decline in net income of -2.35% on average, which means that although revenue has increased, a smaller portion falls in to the bottom line. … Thus, it is essential to run your own analysis on Fortis Healthcare's future earnings whilst maintaining a watchful eye over the sustainability of their cost management methods and the runway for top line growth.

Simply Wall St -

FORTIS Company Info

Map
Description

Fortis Healthcare Limited owns, manages, and operates a network of multi-specialty hospitals and diagnostic centers in India and internationally. Its healthcare verticals comprise day care specialty, diagnostics, and tertiary and quaternary care facilities. The company offers services in the areas of cardiac care, orthopedics, neurosciences, oncology, renal care, metabolic diseases, and mother and child care. As of March 31, 2018, it operated a network of 43 healthcare facilities with approximately 4,800 operational beds; 368 laboratories; 5,539 direct points; and 1,062 collection centers. The company was founded in 1995 and is based in Gurgaon, India.

Details
Name: Fortis Healthcare Limited
FORTIS
Exchange: NSEI
Founded: 1995
₹101,805,270,187
754,951,948
Website: http://www.fortishealthcare.com
Address: Fortis Healthcare Limited
Tower A,
Block-F,
Gurgaon,
Haryana, 122001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532843 Equity Shares Mumbai Stock Exchange IN INR 09. May 2007
NSEI FORTIS Equity Shares National Stock Exchange of India IN INR 09. May 2007
Number of employees
Current staff
Staff numbers
14,351
Fortis Healthcare employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 12:54
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/18
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.