Company Valuation: Wipro Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 3,236,060 2,000,894 2,505,134 2,741,626 1,964,851 1,631,724 - -
Change - -38.17% 25.2% 9.44% -28.33% -16.95% - -
Enterprise Value (EV) 1 3,042,265 1,749,875 2,238,476 2,369,995 1,589,490 1,344,569 1,304,197 1,247,869
Change - -42.48% 27.92% 5.88% -32.93% -15.41% -3% -4.32%
P/E 26.6x 17.7x 23.1x 20.9x 14.9x 12.3x 11.8x 11.4x
PBR 4.93x 2.56x 3.38x 3.33x 2.23x 2.01x 1.91x 1.8x
PEG - -2.45x 34.12x 1x 46.64x 1.92x 2.63x 2.89x
Capitalization / Revenue 4.09x 2.21x 2.79x 3.08x 2.12x 1.65x 1.6x 1.56x
EV / Revenue 3.85x 1.93x 2.49x 2.66x 1.72x 1.36x 1.28x 1.19x
EV / EBITDA 18.5x 10.4x 13.2x 13.1x 8.9x 6.99x 6.48x 6.06x
EV / EBIT 22.4x 12.9x 16.5x 15.7x 10.4x 8.34x 7.72x 7.19x
EV / FCF 33.6x 15.1x 13.5x 15.3x 11.9x 9.9x 8.95x 8.36x
FCF Yield 2.98% 6.62% 7.4% 6.53% 8.41% 10.1% 11.2% 12%
Dividend per Share 2 3 0.5 0.5 6 11 9.047 11.15 11.19
Rate of return 1.01% 0.27% 0.21% 2.29% 5.87% 5.48% 6.76% 6.78%
EPS 2 11.14 10.34 10.41 12.52 12.56 13.36 13.96 14.51
Distribution rate 26.9% 4.84% 4.8% 47.9% 87.6% 67.7% 79.8% 77.1%
Net sales 1 790,934 904,876 897,603 890,884 926,240 987,423 1,017,439 1,045,103
EBITDA 1 164,523 168,479 169,830 180,818 178,626 192,399 201,293 205,752
EBIT 1 135,931 135,134 135,759 151,239 152,154 161,154 168,952 173,528
Net income 1 122,191 113,500 110,452 131,354 131,974 134,908 140,693 146,313
Net Debt 1 -193,795 -251,019 -266,658 -371,631 -375,361 -287,154 -327,527 -383,854
Reference price 2 296.00 182.65 240.02 262.10 187.55 164.95 164.95 164.95
Nbr of stocks (in thousands) 10,932,636 10,954,798 10,436,972 10,460,231 10,476,409 9,892,233 - -
Announcement Date 4/29/22 4/27/23 4/19/24 4/16/25 4/16/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.54x3.69x12.88x2.95% 216B
-130.35x18.18x100.79x-.--% 117B
13.46x1.48x7.8x3.56% 111B
13.63x2.48x9.35x6.03% 79.37B
19.51x5.17x12.71x2.91% 58.38B
13.79x1.99x8.45x5.65% 44.37B
22.36x1.83x11.42x1.31% 43.97B
21.06x1.6x10.17x0.89% 40.66B
17.22x2.17x10.3x5.08% 35.23B
Average 1.47x 4.29x 20.43x 3.15% 82.93B
Weighted average by Cap. -4.86x 5.23x 24.92x 2.95%

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

-40%: Exceptional extension
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