Max Financial Services Limited (MFSL) — Financial Flexibility Index
Max Financial Services Limited (MFSL) has a Financial Flexibility Index of 0.01x as of September 2025. Free cash flow of Rs18.19 Billion (operating CF Rs16.90 Billion minus capex Rs1.29 Billion) represents 0% of total liabilities (Rs1.90 Trillion). Check MFSL strategic assets to equity ratio to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Max Financial Services Limited Financial Flexibility Index (2004–2026)
Historical Financial Flexibility Index trend for Max Financial Services Limited across 23 annual periods. See Max Financial Services Limited working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Max Financial Services Limited (2004–2026)
Year-by-year free cash flow to debt coverage for Max Financial Services Limited. For the full company profile including market capitalisation, see Max Financial Services Limited stock valuation.
| Year | Flexibility Index | Free Cash Flow (INR) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.06x | Rs117.17 Billion | Rs114.73 Billion | Rs1.93 Trillion | ▲ +30.4% |
| 2025 | 0.05x | Rs85.70 Billion | Rs83.52 Billion | Rs1.84 Trillion | ▲ +16.8% |
| 2024 | 0.04x | Rs63.30 Billion | Rs61.07 Billion | Rs1.58 Trillion | ▼ -49.4% |
| 2023 | 0.08x | Rs100.96 Billion | Rs99.22 Billion | Rs1.28 Trillion | ▲ +3.7% |
| 2022 | 0.08x | Rs86.24 Billion | Rs84.96 Billion | Rs1.13 Trillion | ▼ -17.3% |
| 2021 | 0.09x | Rs87.04 Billion | Rs86.21 Billion | Rs945.27 Billion | ▼ -31.2% |
| 2020 | 0.13x | Rs95.95 Billion | Rs94.68 Billion | Rs717.07 Billion | ▼ -3.5% |
| 2019 | 0.14x | Rs89.27 Billion | Rs88.26 Billion | Rs643.78 Billion | ▲ +2.8% |
| 2018 | 0.13x | Rs70.00 Billion | Rs69.51 Billion | Rs518.99 Billion | ▲ +35.4% |
| 2017 | 0.10x | Rs43.47 Billion | Rs42.66 Billion | Rs436.56 Billion | ▼ -9.2% |
| 2016 | 0.11x | Rs38.91 Billion | Rs38.02 Billion | Rs354.79 Billion | ▲ +19.2% |
| 2015 | 0.09x | Rs29.06 Billion | Rs25.79 Billion | Rs315.84 Billion | ▼ -6.5% |
| 2014 | 0.10x | Rs24.85 Billion | Rs21.78 Billion | Rs252.47 Billion | ▼ -6.0% |
| 2013 | 0.10x | Rs22.00 Billion | Rs19.41 Billion | Rs210.15 Billion | ▼ -42.7% |
| 2012 | 0.18x | Rs31.85 Billion | Rs28.54 Billion | Rs174.29 Billion | ▼ -9.9% |
| 2011 | 0.20x | Rs30.22 Billion | Rs26.81 Billion | Rs149.02 Billion | ▼ -14.9% |
| 2010 | 0.24x | Rs26.44 Billion | Rs24.67 Billion | Rs111.01 Billion | ▼ -20.5% |
| 2009 | 0.30x | Rs18.25 Billion | Rs15.24 Billion | Rs60.93 Billion | ▼ -15.3% |
| 2008 | 0.35x | Rs15.88 Billion | Rs14.00 Billion | Rs44.92 Billion | ▼ -0.9% |
| 2007 | 0.36x | Rs9.03 Billion | Rs6.62 Billion | Rs25.32 Billion | ▲ +38.8% |
| 2006 | 0.26x | Rs3.62 Billion | Rs2.52 Billion | Rs14.10 Billion | ▲ +110.5% |
| 2005 | 0.12x | Rs1.22 Billion | Rs530.62 Million | Rs9.98 Billion | ▼ -53.6% |
| 2004 | 0.26x | Rs805.36 Million | Rs267.30 Million | Rs3.06 Billion | — |