Company Valuation: Infosys Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,994,057 5,861,306 6,201,355 6,506,491 5,060,687 4,754,284 - -
Change - -26.68% 5.8% 4.92% -22.22% -6.05% - -
Enterprise Value (EV) 1 7,819,337 5,739,576 6,053,495 6,261,941 4,838,677 4,378,580 4,325,022 4,276,347
Change - -26.6% 5.47% 3.44% -22.73% -9.51% -1.22% -1.13%
P/E 36.4x 24.8x 23.7x 24.4x 17.5x 15.4x 14.7x 14x
PBR 10.6x 7.86x 7.05x 6.8x 5.55x 4.86x 4.55x 4.28x
PEG - 2.53x 2.37x 14.71x 1.6x 2.25x 3.29x 2.7x
Capitalization / Revenue 6.57x 3.99x 4.04x 3.99x 2.83x 2.44x 2.35x 2.25x
EV / Revenue 6.43x 3.91x 3.94x 3.84x 2.71x 2.25x 2.14x 2.02x
EV / EBITDA 24.8x 16.3x 16.6x 16x 11.8x 9.53x 9.02x 8.56x
EV / EBIT 27.9x 18.6x 19.1x 18.2x 13.3x 10.8x 10.2x 9.68x
EV / FCF 32.7x 28.9x 25.1x 18.7x 15.5x 14.6x 13.3x 12.3x
FCF Yield 3.06% 3.47% 3.98% 5.34% 6.46% 6.83% 7.52% 8.16%
Dividend per Share 2 31 34 38 43 48 59.63 63.72 67.71
Rate of return 1.63% 2.38% 2.54% 2.74% 3.84% 5.08% 5.43% 5.77%
EPS 2 52.41 57.54 63.29 64.34 71.46 76.36 79.77 83.9
Distribution rate 59.1% 59.1% 60% 66.8% 67.2% 78.1% 79.9% 80.7%
Net sales 1 1,216,410 1,467,670 1,536,700 1,629,900 1,786,500 1,948,285 2,021,613 2,114,650
EBITDA 1 314,910 351,300 364,250 392,360 411,560 459,254 479,727 499,636
EBIT 1 280,150 309,050 317,470 344,240 362,540 405,699 422,550 441,968
Net income 1 221,100 240,950 262,330 267,130 294,400 310,791 325,471 341,384
Net Debt 1 -174,720 -121,730 -147,860 -244,550 -222,010 -375,705 -429,263 -477,937
Reference price 2 1,906.85 1,427.95 1,498.05 1,570.65 1,250.60 1,174.00 1,174.00 1,174.00
Nbr of stocks (in thousands) 4,192,284 4,104,700 4,139,618 4,142,547 4,046,607 4,049,646 - -
Announcement Date 4/13/22 4/13/23 4/18/24 4/17/25 4/23/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.38x2.25x9.53x5.08% 50B
23.41x3.77x13.18x2.86% 222B
-111.07x17.66x101.98x-.--% 110B
12.64x1.4x7.33x3.8% 104B
15.63x2.86x10.8x5.26% 91.82B
21.26x5.54x13.6x2.68% 63.87B
18.39x2.36x11.32x4.73% 38.42B
20.66x1.52x9.63x0.92% 38.98B
19.65x1.6x9.8x1.49% 38.35B
21.27x2.47x16.15x2.82% 29.03B
Average 5.72x 4.14x 20.33x 2.96% 78.7B
Weighted average by Cap. 0.98x 5.00x 24.00x 2.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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