Company Valuation: Apollo Hospitals Enterprise Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 417,357 649,346 619,841 914,010 951,308 1,083,993 - -
Change - 55.59% -4.54% 47.46% 4.08% 13.95% - -
Enterprise Value (EV) 1 442,681 660,331 636,264 929,451 976,135 1,130,757 1,126,027 1,128,353
Change - 49.17% -3.64% 46.08% 5.02% 15.84% -0.42% 0.21%
P/E ratio 270x 61.5x 75.7x 102x 65.8x 56.9x 45x 35.4x
PBR 9.07x 11.5x 10x 13.2x 11.6x 11x 9.18x 7.47x
PEG - 0x -3.4x 10.51x 1.1x 1.8x 1.7x 1.3x
Capitalization / Revenue 3.95x 4.43x 3.73x 4.8x 4.36x 4.32x 3.59x 3.12x
EV / Revenue 4.19x 4.5x 3.83x 4.88x 4.48x 4.5x 3.73x 3.24x
EV / EBITDA 38.9x 30.2x 31.7x 38.6x 32x 30.4x 24.8x 20.6x
EV / EBIT 78.5x 41.7x 45.7x 53.9x 42.5x 39.7x 31.3x 25.3x
EV / FCF 45.3x 68.9x 256x 119x 230x 64.5x 51.3x 42.2x
FCF Yield 2.21% 1.45% 0.39% 0.84% 0.43% 1.55% 1.95% 2.37%
Dividend per Share 2 3 11.75 15 16 19 21.16 25.24 30.66
Rate of return 0.1% 0.26% 0.35% 0.25% 0.29% 0.28% 0.33% 0.41%
EPS 2 10.74 73.42 56.97 62.5 100.6 132.5 167.6 213.1
Distribution rate 27.9% 16% 26.3% 25.6% 18.9% 16% 15.1% 14.4%
Net sales 1 105,600 146,626 166,124 190,592 217,940 251,215 301,953 347,781
EBITDA 1 11,374 21,851 20,065 24,106 30,548 37,252 45,379 54,725
EBIT 1 5,643 15,844 13,912 17,236 22,973 28,506 36,015 44,537
Net income 1 1,504 10,556 8,191 8,986 14,459 19,132 24,143 30,663
Net Debt 1 25,324 10,985 16,423 15,441 24,827 46,765 42,034 44,361
Reference price 2 2,902.65 4,516.10 4,310.90 6,356.80 6,616.20 7,539.00 7,539.00 7,539.00
Nbr of stocks (in thousands) 143,785 143,785 143,785 143,785 143,785 143,785 - -
Announcement Date 6/23/21 5/25/22 5/30/23 5/30/24 5/30/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
57.38x4.49x30.45x0.28% 11.89B
38.71x3.51x15.61x1.15% 19.73B
27.19x4.15x14.65x1.55% 14.42B
29.86x2.35x19.71x0.12% 12.22B
21.08x2.33x11.08x0.63% 11.41B
20.49x2.99x12.17x3.61% 10.68B
12.27x1.15x7.17x1.49% 8.29B
62.29x7.73x33.43x0.14% 7.64B
27.98x0.85x7.06x2.27% 6.22B
39.83x5.17x24.8x0.27% 4.17B
Average 33.71x 3.47x 17.61x 1.15% 10.67B
Weighted average by Cap. 33.57x 3.42x 17.26x 1.17%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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