Max Financial Services Limited (MFSL) — Free Cash Flow Generation Index
Max Financial Services Limited (MFSL) has a Free Cash Flow Generation Index of 1.08x as of September 2025. Free cash flow of Rs18.19 Billion represents 1% of operating cash flow (Rs16.90 Billion). Explore reinvestment intensity of Max Financial Services Limited to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Max Financial Services Limited Free Cash Flow Generation Index (2004–2026)
Historical FCF Generation Index trend for Max Financial Services Limited across 23 annual periods. For the full cash flow conversion analysis, see Max Financial Services Limited (MFSL) cash conversion ratio.
Annual Free Cash Flow Generation for Max Financial Services Limited (2004–2026)
Year-by-year Free Cash Flow Generation Index for Max Financial Services Limited. Check Max Financial Services Limited total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (INR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.98x | Rs112.28 Billion | Rs114.73 Billion | Rs2.44 Billion | ▲ +0.5% |
| 2025 | 0.97x | Rs81.34 Billion | Rs83.52 Billion | Rs2.18 Billion | ▲ +1.1% |
| 2024 | 0.96x | Rs58.84 Billion | Rs61.07 Billion | Rs2.23 Billion | ▼ -1.9% |
| 2023 | 0.98x | Rs97.48 Billion | Rs99.22 Billion | Rs1.74 Billion | ▼ -0.3% |
| 2022 | 0.98x | Rs83.68 Billion | Rs84.96 Billion | Rs1.28 Billion | ▼ -0.5% |
| 2021 | 0.99x | Rs85.38 Billion | Rs86.21 Billion | Rs829.39 Million | ▲ +0.4% |
| 2020 | 0.99x | Rs93.40 Billion | Rs94.68 Billion | Rs1.28 Billion | ▼ -0.2% |
| 2019 | 0.99x | Rs87.26 Billion | Rs88.26 Billion | Rs1.00 Billion | ▼ -0.4% |
| 2018 | 0.99x | Rs69.02 Billion | Rs69.51 Billion | Rs491.88 Million | ▲ +1.2% |
| 2017 | 0.98x | Rs41.85 Billion | Rs42.66 Billion | Rs810.69 Million | ▲ +0.4% |
| 2016 | 0.98x | Rs37.13 Billion | Rs38.02 Billion | Rs887.34 Million | ▲ +11.8% |
| 2015 | 0.87x | Rs22.53 Billion | Rs25.79 Billion | Rs3.27 Billion | ▲ +1.7% |
| 2014 | 0.86x | Rs18.71 Billion | Rs21.78 Billion | Rs3.07 Billion | ▼ -0.9% |
| 2013 | 0.87x | Rs16.83 Billion | Rs19.41 Billion | Rs2.59 Billion | ▼ -1.9% |
| 2012 | 0.88x | Rs25.22 Billion | Rs28.54 Billion | Rs3.32 Billion | ▲ +1.3% |
| 2011 | 0.87x | Rs23.40 Billion | Rs26.81 Billion | Rs3.41 Billion | ▼ -5.9% |
| 2010 | 0.93x | Rs22.89 Billion | Rs24.67 Billion | Rs1.77 Billion | ▲ +15.7% |
| 2009 | 0.80x | Rs12.23 Billion | Rs15.24 Billion | Rs3.01 Billion | ▼ -7.3% |
| 2008 | 0.87x | Rs12.12 Billion | Rs14.00 Billion | Rs1.88 Billion | ▲ +36.2% |
| 2007 | 0.64x | Rs4.21 Billion | Rs6.62 Billion | Rs2.41 Billion | ▲ +13.4% |
| 2006 | 0.56x | Rs1.41 Billion | Rs2.52 Billion | Rs1.11 Billion | ▲ +288.9% |
| 2005 | -0.30x | Rs-157.49 Million | Rs530.62 Million | Rs688.10 Million | ▲ +70.7% |
| 2004 | -1.01x | Rs-270.76 Million | Rs267.30 Million | Rs538.06 Million | — |