Financials Wipro Limited Nyse

Equities

WIT

US97651M1099

IT Services & Consulting

Real-time Estimate Cboe BZX Other stock markets 02:07:52 2024-07-12 pm EDT			5-day change	1st Jan Change
6.755 ^USD	+4.08%		+5.41%	+20.74%

05:10pm	Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Friday Trading	MT
12:37pm	IT Stocks Rally Push Indian Equities to Close Higher on Friday	MT

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	1,118,451	2,260,981	3,236,060	2,000,894	2,505,134	2,925,883	-	-
Enterprise Value (EV) ¹	862,359	1,998,813	3,042,265	1,749,875	2,238,476	2,578,729	2,494,715	2,453,563
P/E ratio	11.8 x	21.7 x	26.6 x	17.7 x	23.1 x	24.3 x	22 x	20.1 x
Yield	0.51%	0.24%	1.01%	0.27%	0.21%	1.66%	1.98%	2.39%
Capitalization / Revenue	1.83 x	3.65 x	4.09 x	2.21 x	2.79 x	3.2 x	2.98 x	2.8 x
EV / Revenue	1.41 x	3.23 x	3.85 x	1.93 x	2.49 x	2.82 x	2.54 x	2.34 x
EV / EBITDA	6.99 x	13.5 x	18.5 x	10.4 x	13.2 x	14.3 x	12.8 x	11.8 x
EV / FCF	11.2 x	15.6 x	33.6 x	15.1 x	13.5 x	21.2 x	19.4 x	16.3 x
FCF Yield	8.95%	6.4%	2.98%	6.62%	7.4%	4.72%	5.15%	6.14%
Price to Book	2.01 x	4.1 x	4.93 x	2.56 x	3.38 x	3.58 x	3.29 x	3.2 x
Nbr of stocks (in thousands)	5,688,967	5,458,669	5,466,318	5,477,399	5,218,486	5,224,324	-	-
Reference price ²	196.6	414.2	592.0	365.3	480.0	560.0	560.0	560.0
Announcement Date	4/15/20	4/15/21	4/29/22	4/27/23	4/19/24	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	610,232	619,430	790,934	904,876	897,603	913,307	980,619	1,046,414
EBITDA ¹	123,423	147,795	164,523	168,479	169,830	179,721	194,772	208,257
EBIT ¹	105,730	120,139	135,931	135,134	135,759	145,775	159,632	172,314
Operating Margin	17.33%	19.4%	17.19%	14.93%	15.12%	15.96%	16.28%	16.47%
Earnings before Tax (EBT) ¹	122,512	139,007	151,275	147,657	147,210	160,280	177,449	195,696
Net income ¹	97,218	107,946	122,191	113,500	110,452	119,969	132,983	147,748
Net margin	15.93%	17.43%	15.45%	12.54%	12.31%	13.14%	13.56%	14.12%
EPS ²	16.62	19.07	22.29	20.68	20.82	23.01	25.47	27.91
Free Cash Flow ¹	77,146	127,973	90,644	115,767	165,706	121,608	128,375	150,602
FCF margin	12.64%	20.66%	11.46%	12.79%	18.46%	13.32%	13.09%	14.39%
FCF Conversion (EBITDA)	62.51%	86.59%	55.1%	68.71%	97.57%	67.66%	65.91%	72.32%
FCF Conversion (Net income)	79.35%	118.55%	74.18%	102%	150.03%	101.37%	96.53%	101.93%
Dividend per Share ²	1.000	1.000	6.000	1.000	1.000	9.300	11.11	13.39
Announcement Date	4/15/20	4/15/21	4/29/22	4/27/23	4/19/24	-	-	-

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	203,136	208,600	215,286	225,397	232,290	231,903	228,310	225,159	222,051	222,083	222,360	226,048	229,307	233,830	239,061
EBITDA ¹	41,807	41,374	38,594	39,415	45,474	45,057	41,961	42,315	41,919	43,906	43,284	42,526	42,232	43,615	48,233
EBIT ¹	34,348	34,036	30,856	36,543	42,628	36,587	34,578	33,345	32,865	35,501	35,751	35,282	35,120	36,274	39,627
Operating Margin	16.91%	16.32%	14.33%	16.21%	18.35%	15.78%	15.15%	14.81%	14.8%	15.99%	16.08%	15.61%	15.32%	15.51%	16.58%
Earnings before Tax (EBT) ¹	37,786	37,324	33,520	34,201	39,752	40,184	37,975	35,092	35,521	38,622	39,137	38,744	38,701	40,255	42,974
Net income ¹	29,690	30,873	25,636	26,590	30,529	30,745	28,701	26,463	26,942	28,346	29,521	29,430	29,045	30,247	31,555
Net margin	14.62%	14.8%	11.91%	11.8%	13.14%	13.26%	12.57%	11.75%	12.13%	12.76%	13.28%	13.02%	12.67%	12.94%	13.2%
EPS ²	5.420	5.630	4.670	4.850	5.560	5.600	5.120	5.040	5.150	5.410	5.679	5.670	5.689	5.891	6.012
Dividend per Share ²	1.000	5.000	-	-	1.000	-	-	-	-	-	-	-	-	14.38	-
Announcement Date	1/12/22	4/29/22	7/20/22	10/12/22	1/13/23	4/27/23	7/13/23	10/18/23	1/12/24	4/19/24	-	-	-	-	-

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	256,092	262,168	193,795	251,019	266,658	347,153	431,168	472,320
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	77,146	127,973	90,644	115,767	165,706	121,608	128,375	150,602
ROE (net income / shareholders' equity)	17.3%	19.4%	20.2%	15.8%	14.4%	15.3%	15.6%	15.6%
ROA (Net income/ Total Assets)	11.8%	13.1%	12.8%	10.1%	9.49%	9.91%	9.93%	10.1%
Assets ¹	825,119	824,267	955,289	1,127,502	1,164,135	1,209,979	1,339,059	1,462,125
Book Value Per Share ²	97.60	101.0	120.0	143.0	142.0	156.0	170.0	175.0
Cash Flow per Share ²	17.20	26.90	20.20	23.80	33.20	25.90	29.30	31.80
Capex ¹	23,497	19,577	20,153	14,834	10,510	26,638	27,370	28,769
Capex / Sales	3.85%	3.16%	2.55%	1.64%	1.17%	2.92%	2.79%	2.75%
Announcement Date	4/15/20	4/15/21	4/29/22	4/27/23	4/19/24	-	-	-

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

Ratings for Wipro Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

560 INR

Average target price

480.6 INR

Spread / Average Target

-14.18%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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