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Operates hospitals, clinics and pharmacies across India (post its Gulf business demerger), providing multi-specialty healthcare services.
Operates hospitals, clinics and pharmacies across India (post its Gulf business demerger), providing multi-specialty healthcare services.
In one line: India's smaller HCA Healthcare.
Moat: narrow (brand, installed base, regulatory licence). An established hospital network and brand trust in South India, though healthcare faces significant local/regional competition.
Headquarters: Kochi, India · Founded: 1987 · Employees: 22,413
Size Aster DM Quality Care (ASTERDM.NS) is an India Health Care company (Hospital/Nursing Management) with a market value of $6.57B, the 172nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹713.15 on 6 Nov 2026.
Performance Over six months the shares fell 3.4%, against +9.2% for the median peer and 0.0% for the India market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 15.7% over the last twelve months (peer median +8.0%); the operating margin is 14.1% (peer median 12.7%).
Valuation It trades at 49.6× forward earnings against a peer median of 34.5× (7th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 55% a year for seven years (Req g). Recent delivered growth is -12%, so the hurdle is +67 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.3 points below its cost of capital (12.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹48.8B | ₹46.4B | ₹41.4B | ₹37.0B | ₹29.9B |
| Revenue growth | — | +12% | +12% | +24% | — |
| Gross profit | ₹15.0B | ₹10.8B | ₹9.04B | ₹7.27B | ₹5.20B |
| EBITDA | ₹9.58B | ₹9.25B | ₹7.81B | ₹5.94B | ₹4.61B |
| Net income | ₹3.19B | ₹3.88B | ₹53.8B | ₹1.29B | ₹4.25B |
| Free cash flow | n/a | ₹2.01B | ₹867M | -₹8.48B | ₹9.70B |
| Capital expenditure | n/a | ₹4.78B | ₹3.57B | ₹8.06B | ₹8.48B |
| Total debt | n/a | ₹22.2B | ₹20.2B | ₹13.8B | ₹57.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aster DM Quality Care ASTERDM.NS | $6.57B | -3% | +16% | 14% | 49.6× | 55.3% |
| Fortis Healthcare FORTIS.NS | $6.13B | -19% | +18% | 17% | 45.0× | 41.0% |
| Apollo Hospitals Enterprise APOLLOHOSP.NS | $12.8B | +8% | +19% | 12% | 49.3× | 32.2% |
| Max Healthcare Institute MAXHEALTH.NS | $9.61B | -8% | +15% | 21% | 49.7× | 43.2% |
| Narayana Hrudayalaya NH.NS | $4.11B | +3% | +71% | 13% | 36.5× | 31.1% |
| Krishna Institute of Medical Sciences KIMS.NS | $3.21B | +2% | +31% | 12% | 70.0× | n/a |
| Global Health MEDANTA.NS | $3.95B | +15% | +26% | 17% | 51.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASTERDM.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.8% | +6.0% | 10th lowest of 20 |
| 6-month return | -3.4% | +9.2% | 7th lowest of 19 |
| Distance from 52-week high | -20.0% | -15.7% | 9th lowest of 20 |
| Revenue growth (TTM) | +15.7% | +8.0% | 8th highest of 20 |
| Operating margin | 14.1% | 12.7% | 8th highest of 20 |
| Forward P/E | 49.6× | 34.5× | 7th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 55.3% | 13.6% | most demanding of 18 |
| Growth delivered (Del g) | -11.6% | +9.7% | lowest of 18 |
| Hurdle (Req g minus delivered) | +66.9 pp | +1.6 pp | most demanding of 18 |
| ROIC minus cost of capital | -2.3 pp | +1.4 pp | 8th lowest of 20 |
| EV / EBITDA | 64.8× | 19.2× | most expensive of 17 |
| Net debt / EBITDA | 0.9× | 2.4× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aster DM Quality Care ASTERDM.NS | India | $6.57B | -3% | +16% | 14% | 49.6× | 55.3% | -11.6% |
| Chemed CHE | United States | $6.87B | +24% | +5% | 14% | 19.5× | 2.4% | +4.0% |
| Fortis Healthcare FORTIS.NS | India | $6.13B | -19% | +18% | 17% | 45.0× | 41.0% | +17.9% |
| PACS PACS | United States | $7.87B | +48% | +11% | 8% | 19.2× | 7.6% | +29.7% |
| Ramsay Health Care RHC.AX | Australia | $8.87B | +52% | +4% | 5% | 32.4× | 14.3% | +8.3% |
| Manipal Health Enterprises MANIPALHOS.NS | India | $9.01B | n/a | +25% | 19% | 63.1× | 29.7% | +28.8% |
| Max Healthcare Institute MAXHEALTH.NS | India | $9.61B | -8% | +15% | 21% | 49.7× | 43.2% | +27.2% |
| Narayana Hrudayalaya NH.NS | India | $4.11B | +3% | +71% | 13% | 36.5× | 31.1% | +25.0% |
| Global Health MEDANTA.NS | India | $3.95B | +15% | +26% | 17% | 51.1× | n/a | n/a |
| Universal Health Services UHS | United States | $11.5B | +15% | +8% | 11% | 8.7× | -1.2% | +8.5% |
| Apollo Hospitals Enterprise APOLLOHOSP.NS | India | $12.8B | +8% | +19% | 12% | 49.3× | 32.2% | +19.0% |
| National HealthCare NHC | United States | $3.27B | +11% | +7% | -8% | n/a | 7.9% | +9.7% |
| Krishna Institute of Medical Sciences KIMS.NS | India | $3.21B | +2% | +31% | 12% | 70.0× | n/a | n/a |
| Surgery Partners SGRY | United States | $2.99B | +61% | +4% | 14% | 62.5× | 13.8% | +12.2% |
| Topchoice Medical 600763.SS | China | $2.51B | -11% | +7% | 26% | 26.7× | 13.6% | +6.9% |
| Ardent Health ARDT | United States | $2.44B | +71% | +3% | 4% | 14.5× | 4.0% | +8.7% |
| Brookdale Senior Living BKD | United States | $2.15B | -31% | -4% | 5% | 127.7× | 22.4% | -1.4% |
| Tenet Healthcare THC | United States | $22.5B | +49% | +6% | 17% | 14.0× | -1.2% | +3.9% |
| Huaxia Eye Hospital 301267.SZ | China | $1.92B | -16% | +2% | 15% | 24.7× | 3.8% | +10.4% |
| Extendicare EXE.TO | Canada | $1.87B | -9% | +31% | 9% | 19.4× | 11.2% | +8.5% |