Financials Infosys Limited Nyse

Equities

INFY

US4567881085

IT Services & Consulting

Market Closed - Nyse Other stock markets 16:00:02 2024-06-28 EDT			5-day change	1st Jan Change
18.62 ^USD	-0.05%		+3.10%	+1.31%

06-28	Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Friday Trading	MT
06-28	Infosys' Business Process Management Arm Opens New Office in Puerto Rico	MT

Valuation

Fiscal Period: Maart	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	6,488,087	-	-
Enterprise Value (EV) ¹	2,531,095	5,583,377	7,819,337	5,739,576	6,053,495	6,133,361	6,072,774	6,037,836
P/E ratio	16.5 x	30.1 x	36.4 x	24.8 x	23.7 x	24.8 x	22.1 x	20.6 x
Yield	2.73%	1.97%	1.63%	2.38%	2.54%	3.14%	3.4%	3.84%
Capitalization / Revenue	3 x	5.78 x	6.57 x	3.99 x	4.04 x	4.06 x	3.74 x	3.44 x
EV / Revenue	2.79 x	5.56 x	6.43 x	3.91 x	3.94 x	3.84 x	3.5 x	3.2 x
EV / EBITDA	11.4 x	20 x	24.8 x	16.3 x	16.6 x	15.9 x	14.3 x	13.1 x
EV / FCF	15.4 x	26.4 x	32.7 x	28.9 x	25.1 x	22.8 x	22.2 x	21.2 x
FCF Yield	6.49%	3.78%	3.06%	3.47%	3.98%	4.4%	4.51%	4.71%
Price to Book	4.39 x	8.15 x	10.6 x	7.86 x	7.05 x	7 x	6.55 x	6.21 x
Nbr of stocks (in thousands)	4,240,211	4,244,364	4,192,284	4,104,700	4,139,618	4,141,112	-	-
Reference price ²	641.5	1,368	1,907	1,428	1,498	1,567	1,567	1,567
Announcement Date	20-04-20	21-04-14	22-04-13	23-04-13	24-04-18	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart	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	1,596,114	1,732,931	1,888,070
EBITDA ¹	222,670	278,890	314,910	351,300	364,250	385,130	425,994	462,612
EBIT ¹	193,740	246,220	280,150	309,050	317,470	338,090	374,026	408,526
Operating Margin	21.34%	24.51%	23.03%	21.06%	20.66%	21.18%	21.58%	21.64%
Earnings before Tax (EBT) ¹	220,070	266,280	301,100	333,220	359,880	362,670	402,599	446,965
Net income ¹	165,940	193,510	221,100	240,950	262,330	261,399	290,982	316,418
Net margin	18.28%	19.26%	18.18%	16.42%	17.07%	16.38%	16.79%	16.76%
EPS ²	38.91	45.52	52.41	57.54	63.29	63.19	70.89	76.09
Free Cash Flow ¹	164,341	211,170	239,104	198,880	240,837	269,598	273,972	284,254
FCF margin	18.1%	21.02%	19.66%	13.55%	15.67%	16.89%	15.81%	15.06%
FCF Conversion (EBITDA)	73.8%	75.72%	75.93%	56.61%	66.12%	70%	64.31%	61.45%
FCF Conversion (Net income)	99.04%	109.13%	108.14%	82.54%	91.81%	103.14%	94.15%	89.84%
Dividend per Share ²	17.50	27.00	31.00	34.00	38.00	49.18	53.23	60.22
Announcement Date	20-04-20	21-04-14	22-04-13	23-04-13	24-04-18	-	-	-

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	389,223	399,512	400,901	399,645	411,897
EBITDA ¹	83,820	78,460	78,640	89,020	93,670	89,980	90,640	94,400	91,370	87,840	92,198	95,911	95,770	97,276	101,434
EBIT ¹	74,840	69,560	69,140	78,730	82,420	78,770	78,910	82,740	79,610	76,210	80,481	84,016	83,768	84,051	86,696
Operating Margin	23.49%	21.55%	20.06%	21.55%	21.51%	21.04%	20.8%	21.22%	20.51%	20.1%	20.68%	21.03%	20.89%	21.03%	21.05%
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	87,076	90,395	89,834	90,044	94,112
Net income ¹	58,090	56,860	53,600	60,210	65,860	61,280	59,450	62,120	61,060	79,690	62,567	65,244	64,668	65,094	68,013
Net margin	18.23%	17.62%	15.55%	16.48%	17.19%	16.37%	15.67%	15.93%	15.73%	21.01%	16.07%	16.33%	16.13%	16.29%	16.51%
EPS ²	13.83	13.54	12.76	14.34	15.70	14.77	14.35	14.99	14.74	19.22	14.85	15.48	15.26	15.77	16.68
Dividend per Share ²	-	16.00	-	16.50	-	17.50	-	-	-	20.00	-	-	-	39.68	-
Announcement Date	22-01-12	22-04-13	22-07-24	22-10-13	23-01-12	23-04-13	23-07-20	23-10-12	24-01-11	24-04-18	-	-	-	-	-

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	354,726	415,313	450,251
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	164,341	211,170	239,104	198,880	240,837	269,598	273,972	284,254
ROE (net income / shareholders' equity)	25.9%	27.4%	29.1%	35.2%	32.1%	28.9%	30.7%	30.2%
ROA (Net income/ Total Assets)	19%	22.1%	19.5%	24%	24.3%	18%	19%	19.2%
Assets ¹	872,450	874,898	1,131,357	1,003,620	1,081,434	1,452,159	1,529,956	1,649,413
Book Value Per Share ²	146.0	168.0	180.0	182.0	213.0	224.0	239.0	252.0
Cash Flow per Share ²	43.50	54.60	56.60	53.60	60.80	74.60	79.40	83.10
Capex ¹	35,610	21,070	21,610	25,790	22,010	39,794	40,126	40,284
Capex / Sales	3.92%	2.1%	1.78%	1.76%	1.43%	2.49%	2.32%	2.13%
Announcement Date	20-04-20	21-04-14	22-04-13	23-04-13	24-04-18	-	-	-

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 Infosys Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,567 INR

Average target price

1,598 INR

Spread / Average Target

+1.99%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other IT Services & Consulting

	1st Jan change	Capi.
ACCENTURE PLC	-13.54%	190B
TATA CONSULTANCY SERVICES LTD.	+2.92%	169B
IBM	+5.75%	159B
AUTOMATIC DATA PROCESSING, INC.	+2.46%	97.69B
CROWDSTRIKE HOLDINGS, INC.	+50.08%	93.25B
RELX PLC	+17.01%	85.67B
HCL TECHNOLOGIES LIMITED	-0.44%	47.42B
SNOWFLAKE INC.	-32.12%	45.23B
GARTNER, INC.	-0.45%	34.86B

Other IT Services & Consulting