INFOSYS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,444 INR | -0.05% |
|
+1.42% | -6.43% |
| May. 17 | Tech Stocks Lead Asian Equities Traded in the US as American Depositary Receipts Sharply Higher in Friday Trading | MT |
| May. 17 | Telstra Taps India's Infosys to Drive AI, Cloud Innovation | MT |
Valuation
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,720,095 | 5,806,503 | 7,994,057 | 5,861,306 | 6,201,355 | 5,980,280 | - | - |
| Enterprise Value (EV) 1 | 2,531,095 | 5,583,377 | 7,819,337 | 5,739,576 | 6,053,495 | 5,631,786 | 5,569,662 | 5,531,638 |
| P/E ratio | 16.5 x | 30.1 x | 36.4 x | 24.8 x | 23.7 x | 22.8 x | 20.4 x | 19.1 x |
| Yield | 2.73% | 1.97% | 1.63% | 2.38% | 2.54% | 3.39% | 3.69% | 4.15% |
| Capitalization / Revenue | 3 x | 5.78 x | 6.57 x | 3.99 x | 4.04 x | 3.75 x | 3.45 x | 3.17 x |
| EV / Revenue | 2.79 x | 5.56 x | 6.43 x | 3.91 x | 3.94 x | 3.53 x | 3.21 x | 2.93 x |
| EV / EBITDA | 11.4 x | 20 x | 24.8 x | 16.3 x | 16.6 x | 14.6 x | 13.1 x | 12 x |
| EV / FCF | 15.4 x | 26.4 x | 32.7 x | 28.9 x | 25.1 x | 21.4 x | 20.5 x | 19.9 x |
| FCF Yield | 6.49% | 3.78% | 3.06% | 3.47% | 3.98% | 4.68% | 4.88% | 5.02% |
| Price to Book | 4.39 x | 8.15 x | 10.6 x | 7.86 x | 7.05 x | 6.41 x | 6.01 x | 5.67 x |
| Nbr of stocks (in thousands) | 4,240,211 | 4,244,364 | 4,192,284 | 4,104,700 | 4,139,618 | 4,140,608 | - | - |
| Reference price 2 | 641.5 | 1,368 | 1,907 | 1,428 | 1,498 | 1,444 | 1,444 | 1,444 |
| Announcement Date | 4/20/20 | 4/14/21 | 4/13/22 | 4/13/23 | 4/18/24 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 907,910 | 1,004,720 | 1,216,410 | 1,467,670 | 1,536,700 | 1,596,375 | 1,734,756 | 1,887,631 |
| EBITDA 1 | 222,670 | 278,890 | 314,910 | 351,300 | 364,250 | 384,992 | 426,743 | 460,922 |
| EBIT 1 | 193,740 | 246,220 | 280,150 | 309,050 | 317,470 | 336,370 | 373,473 | 406,350 |
| Operating Margin | 21.34% | 24.51% | 23.03% | 21.06% | 20.66% | 21.07% | 21.53% | 21.53% |
| Earnings before Tax (EBT) 1 | 220,070 | 266,280 | 301,100 | 333,220 | 359,880 | 363,429 | 402,631 | 445,576 |
| Net income 1 | 165,940 | 193,510 | 221,100 | 240,950 | 262,330 | 261,441 | 290,744 | 313,555 |
| Net margin | 18.28% | 19.26% | 18.18% | 16.42% | 17.07% | 16.38% | 16.76% | 16.61% |
| EPS 2 | 38.91 | 45.52 | 52.41 | 57.54 | 63.29 | 63.41 | 70.78 | 75.47 |
| Free Cash Flow 1 | 164,341 | 211,170 | 239,104 | 198,880 | 240,837 | 263,532 | 271,991 | 277,516 |
| FCF margin | 18.1% | 21.02% | 19.66% | 13.55% | 15.67% | 16.51% | 15.68% | 14.7% |
| FCF Conversion (EBITDA) | 73.8% | 75.72% | 75.93% | 56.61% | 66.12% | 68.45% | 63.74% | 60.21% |
| FCF Conversion (Net income) | 99.04% | 109.13% | 108.14% | 82.54% | 91.81% | 100.8% | 93.55% | 88.51% |
| Dividend per Share 2 | 17.50 | 27.00 | 31.00 | 34.00 | 38.00 | 49.00 | 53.29 | 59.94 |
| Announcement Date | 4/20/20 | 4/14/21 | 4/13/22 | 4/13/23 | 4/18/24 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 | 2026 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 318,670 | 322,760 | 344,700 | 365,380 | 383,180 | 374,410 | 379,330 | 389,940 | 388,210 | 379,230 | 389,399 | 399,617 | 400,861 | 399,456 | 411,046 |
| EBITDA 1 | 83,820 | 78,460 | 78,640 | 89,020 | 93,670 | 89,980 | 90,640 | 94,400 | 91,370 | 87,840 | 93,725 | 96,988 | 95,657 | 95,732 | 102,413 |
| EBIT 1 | 74,840 | 69,560 | 69,140 | 78,730 | 82,420 | 78,770 | 78,910 | 82,740 | 79,610 | 76,210 | 81,184 | 84,443 | 83,724 | 83,495 | 87,047 |
| Operating Margin | 23.49% | 21.55% | 20.06% | 21.55% | 21.51% | 21.04% | 20.8% | 21.22% | 20.51% | 20.1% | 20.85% | 21.13% | 20.89% | 20.9% | 21.18% |
| Earnings before Tax (EBT) 1 | 79,430 | 75,430 | 75,340 | 83,910 | 89,310 | 84,660 | 83,620 | 87,680 | 86,190 | 102,400 | 87,667 | 90,864 | 89,777 | 89,354 | 94,303 |
| Net income 1 | 58,090 | 56,860 | 53,600 | 60,210 | 65,860 | 61,280 | 59,450 | 62,120 | 61,060 | 79,690 | 63,145 | 65,546 | 64,632 | 64,650 | 67,832 |
| Net margin | 18.23% | 17.62% | 15.55% | 16.48% | 17.19% | 16.37% | 15.67% | 15.93% | 15.73% | 21.01% | 16.22% | 16.4% | 16.12% | 16.18% | 16.5% |
| EPS 2 | 13.83 | 13.54 | 12.76 | 14.34 | 15.70 | 14.77 | 14.35 | 14.99 | 14.74 | 19.22 | 15.09 | 15.67 | 15.24 | 15.50 | 16.61 |
| Dividend per Share 2 | - | 16.00 | - | 16.50 | - | 17.50 | - | - | - | 20.00 | - | - | - | 39.95 | - |
| Announcement Date | 1/12/22 | 4/13/22 | 7/24/22 | 10/13/22 | 1/12/23 | 4/13/23 | 7/20/23 | 10/12/23 | 1/11/24 | 4/18/24 | - | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 189,000 | 223,125 | 174,720 | 121,730 | 147,860 | 348,494 | 410,618 | 448,642 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 164,341 | 211,170 | 239,104 | 198,880 | 240,837 | 263,532 | 271,991 | 277,516 |
| ROE (net income / shareholders' equity) | 25.9% | 27.4% | 29.1% | 35.2% | 32.1% | 28.9% | 30.7% | 30.1% |
| ROA (Net income/ Total Assets) | 19% | 22.1% | 19.5% | 24% | 24.3% | 17.5% | 18.6% | 18.8% |
| Assets 1 | 872,450 | 874,898 | 1,131,357 | 1,003,620 | 1,081,434 | 1,495,608 | 1,560,189 | 1,664,502 |
| Book Value Per Share 2 | 146.0 | 168.0 | 180.0 | 182.0 | 213.0 | 225.0 | 240.0 | 255.0 |
| Cash Flow per Share 2 | 43.50 | 54.60 | 56.60 | 53.60 | 60.80 | 75.60 | 81.60 | 86.40 |
| Capex 1 | 35,610 | 21,070 | 21,610 | 25,790 | 22,010 | 40,371 | 40,690 | 40,191 |
| Capex / Sales | 3.92% | 2.1% | 1.78% | 1.76% | 1.43% | 2.53% | 2.35% | 2.13% |
| Announcement Date | 4/20/20 | 4/14/21 | 4/13/22 | 4/13/23 | 4/18/24 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
43
Last Close Price
1,444
INR
Average target price
1,593
INR
Spread / Average Target
+10.28%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.43% | 71.79B | |
| -13.48% | 191B | |
| +1.53% | 167B | |
| +3.37% | 155B | |
| +8.31% | 103B | |
| +11.19% | 82.06B | |
| -18.66% | 54.05B | |
| -8.68% | 43.34B | |
| +9.88% | 38.62B | |
| -0.19% | 34.95B |
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