Infosys Ltd. ADR (INFY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$0.2	$0.2	0.0%	—	$5.1B	—
Q4 26	$0.21	$0.23	+9.5%	—	$5B	—
Q1 26	$0.19	$0.19	0.0%	—	$4.9B	—
Q4 25	$0.19	$0.2	+5.3%	—	$4.7B	—
Q3 25	$0.19	$0.19	0.0%	—	$4.9B	—
Q2 25	$0.19	$0.19	0.0%	—	$4.9B	—
Q1 25	$0.18	$0.18	0.0%	—	$4.7B	—
Q4 24	$0.17	$0.23	+35.3%	—	$4.6B	—
Q3 24	$0.18	$0.18	0.0%	—	$4.7B	—
Q2 24	$0.18	$0.18	0.0%	—	$4.7B	—
Q1 24	$0.18	$0.17	-5.6%	—	$4.6B	—
Q4 23	$0.2	$0.18	-10.0%	—	$4.6B	—
Q3 23	$0.19	$0.19	0.0%	—	$4.7B	—
Q2 23	$0.18	$0.18	0.0%	—	$4.6B	—
Q1 23	$0.18	$0.16	-11.1%	—	$4.4B	—
Q4 22	$0.19	$0.18	-5.3%	—	$4.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$0.81	—	—	$20.2B	—
FY25	—	$0.76	—	—	$19.3B	—
FY24	—	$0.77	—	—	$18.6B	—
FY23	—	$0.71	—	—	$18.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$10.2B	$10.9B	$11.8B	$12.8B	$13.6B	$16.3B	$18.2B	$18.6B	$19.3B	$20.2B
YoY change	+7.44%	+7.16%	+7.86%	+8.31%	+6.11%	+20.3%	+11.7%	+1.92%	+3.85%	+4.57%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	10.2B	10.9B	11.8B	12.8B	13.6B	16.3B	18.2B	18.6B	19.3B	20.2B
Cost of revenue	6.4B	7B	7.7B	8.6B	8.8B	11B	12.7B	13B	13.4B	14.1B
Gross profit	3.8B	3.9B	4.1B	4.2B	4.7B	5.3B	5.5B	5.6B	5.9B	6.1B
Gross margin	36.9%	36%	34.9%	33.1%	34.9%	32.6%	30.2%	30.1%	30.5%	30.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.2B	1.3B	1.4B	1.5B	1.4B	1.6B	1.5B	1.6B	1.6B	1.8B
Operating expenses	1.4B	1.4B	1.6B	1.7B	1.5B	1.7B	1.6B	1.7B	1.8B	2B
Operating income	2.5B	2.7B	2.7B	2.7B	3.3B	3.8B	3.9B	3.8B	4.1B	4.1B
Operating margin	24.7%	24.3%	22.8%	21.3%	24.5%	23%	21.2%	20.7%	21.1%	20.3%
Non-operating income, net	74M	77M	7M	131M	81M	87M	74M	66M	74M	113M
Pretax income	3B	3.1B	3B	3.1B	3.6B	4B	4.1B	4.3B	4.4B	4.5B
Income tax	834M	657M	803M	757M	973M	1.1B	1.1B	1.2B	1.3B	1.2B
Net income	2.1B	2.5B	2.2B	2.3B	2.6B	3B	3B	3.2B	3.2B	3.3B
Net margin	21%	22.7%	18.6%	18.3%	19.3%	18.2%	16.4%	17.1%	16.4%	16.5%
EBITDA	2.7B	3.4B	3.3B	3.4B	4B	4.5B	4.7B	4.9B	5B	5B
EPS	0.47	0.55	0.51	0.55	0.62	0.7	0.71	0.77	0.76	0.81
Diluted EPS	0.47	0.55	0.51	0.55	0.61	0.7	0.71	0.76	0.76	0.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	4.7B	4.7B	4.6B	4.7B	4.9B	4.9B	4.7B	4.9B	5.1B	5.1B	5B	5.1B
Cost of revenue	3.3B	—	—	—	—	—	—	—	3.5B	3.7B	3.5B	3.5B
Gross profit	1.4B	—	—	—	—	—	—	—	1.6B	1.4B	1.6B	1.6B
Gross margin	30.7%	—	—	—	—	—	—	—	30.7%	28.2%	30.9%	31.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	447M	—	—	—	—	—	—	—	454M	455M	500M	488M
Operating expenses	477M	—	—	—	—	—	—	—	486M	488M	500M	520M
Operating income	1B	—	—	—	—	—	—	—	1.1B	943M	1.1B	1.1B
Operating margin	21.2%	—	—	—	—	—	—	—	21%	18.5%	20.9%	21.1%
Non-operating income, net	4M	—	—	—	—	—	—	—	28M	36M	125M	36M
Pretax income	1.1B	—	—	—	—	—	—	—	1.2B	1B	1.2B	1.2B
Income tax	309M	—	—	—	—	—	—	—	325M	287M	248M	343M
Net income	751M	—	—	—	—	—	—	—	840M	748M	920M	820M
Net margin	15.9%	—	—	—	—	—	—	—	16.5%	14.7%	18.3%	16.1%
EBITDA	1B	—	—	—	—	—	—	—	1.3B	1.2B	1.3B	1.3B
EPS	0.18	0.18	0.23	0.18	0.19	0.19	0.2	0.2	0.2	0.18	0.23	0.2
Diluted EPS	0.18	0.18	0.23	0.18	0.19	0.19	0.2	0.19	0.2	0.18	0.23	0.2

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	36.1B	40.3B	47.5B	35B	79.4B	104.8B	72.9B	74.2B	75.8B	55.6B	42.6B
Enterprise value	31.1B	36.2B	43.7B	32.5B	76.4B	102.3B	71.6B	71.8B	72.3B	52.8B	82.9B
Shares outstanding	4.6B	4.5B	4.3B	4.3B	4.2B	4.2B	4.2B	4.1B	4.2B	4.1B	4.1B

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	16.9	16.2	21.6	15	30.3	35.3	24.4	23.4	24	16.8	13
P/S	3.54	3.68	4.03	2.74	5.86	6.42	4	4	3.93	2.76	2.1
P/B	3.4	4.04	5.05	4.02	7.56	10.5	7.9	7	6.74	5.65	8.88
EV/EBITDA	11.4	10.7	13.2	9.5	19	22.9	15.4	14.6	14.4	10.5	18.5
EV/Sales	3.05	3.31	3.71	2.54	5.63	6.27	3.93	3.87	3.75	2.62	4.08
Earnings yield	5.93%	6.18%	4.63%	6.69%	3.3%	2.83%	4.09%	4.27%	4.17%	5.97%	7.68%
FCF yield	4.67%	4.84%	4.03%	6.14%	3.74%	2.92%	3.48%	3.88%	5.39%	6.72%	7.43%
PEG	—	—	—	—	—	—	—	—	—	—	12.4

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	36.9%	36%	34.9%	33.1%	34.9%	32.6%	30.2%	30.1%	30.5%	30.2%	31.5%
Operating margin	24.7%	24.3%	22.8%	21.3%	24.5%	23%	21.2%	20.7%	21.1%	20.3%	21.2%
Net margin	21%	22.7%	18.6%	18.3%	19.3%	18.2%	16.4%	17.1%	16.4%	16.5%	16.4%
ROE	20.1%	25%	23.4%	26.9%	25%	29.7%	32.3%	29.9%	28.1%	33.7%	32%
ROA	16.6%	20.3%	18%	19.1%	17.7%	19.1%	19.5%	19.2%	18.2%	20.2%	15.3%
ROIC	32.3%	35.4%	35.2%	33%	32.4%	36.9%	35.4%	34.3%	37.6%	42.7%	40.9%
Return on tangible assets	18.6%	21.6%	19.9%	22.6%	20.8%	22%	22.7%	21.9%	21.9%	24.9%	27.1%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	3.83	3.55	2.84	2.62	2.55	2	1.81	2.31	2.27	1.98	1.86
Quick ratio	3.83	3.55	2.84	2.62	2.55	2	1.81	2.31	2.27	1.98	1.86
Debt / equity	—	—	0	0.07	0.07	0.07	0.11	0.09	0.09	0.1	0.1
Debt / assets	—	—	0	0.05	0.05	0.05	0.07	0.06	0.06	0.06	0.06
Net debt / EBITDA	—	—	-1.14	-0.72	-0.75	-0.56	-0.29	-0.49	-0.71	-0.56	-0.45
Interest coverage	—	—	—	130	139.3	150.5	118.9	78.6	91.8	96.9	95.4
Effective tax rate	28%	20.9%	26.7%	24.5%	27.1%	26.5%	27.7%	27.1%	28.9%	26.4%	26.6%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	2.23	2.43	2.71	3	3.2	3.87	4.36	4.49	4.64	4.9	2.48
EPS (basic)	0.47	0.55	0.51	0.55	0.62	0.7	0.71	0.77	0.76	0.81	0.81
EPS (diluted)	0.47	0.55	0.51	0.55	0.61	0.7	0.71	0.76	0.76	0.8	0.81
Book value per share	2.33	2.21	2.16	2.04	2.48	2.37	2.21	2.56	2.71	2.39	1.19
FCF per share	0.37	0.43	0.44	0.5	0.7	0.73	0.61	0.7	0.98	0.91	0.94
Cash per share	1.1	0.89	0.87	0.72	0.88	0.77	0.56	0.83	1.09	0.91	0.39
Capex per share	0.09	0.07	0.08	0.11	0.07	—	—	—	—	0.07	0.07

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	4.03%	2.83%	2.96%	3.64%	2.1%	—	—	—	—	1.52%	1.42%
Capex / operating cash flow	13.8%	9.24%	10.7%	14.9%	6.8%	—	—	—	—	7.58%	7.04%
Payout ratio	48.2%	46.5%	88.9%	58.1%	46.7%	57.4%	56.9%	56.1%	76.4%	64.3%	64.6%
Dividend yield	2.86%	2.87%	4.12%	3.89%	1.54%	1.63%	2.33%	2.39%	3.19%	3.84%	4.92%

Yield

4.92%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.259

ex-dividend Jun 10, 2026

Payout ratio

65%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 10, 2026	$0.259
Oct 27, 2025	$0.259
May 30, 2025	$0.257
Oct 29, 2024	$0.2499

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$4.7B	$4.7B	$4.6B	$4.7B	$4.9B	$4.9B	$4.7B	$4.9B	$5.1B	$5.1B	$5B	$5.1B
YoY change	+3.58%	+0.09%	+0.22%	+2.1%	+3.73%	+5.92%	+3.61%	+4.82%	+3.72%	+3.24%	+6.55%	+2.85%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	5B	4B	3.8B	3.1B	3.8B	3.2B	2.4B	3.4B	4.5B	3.8B
Receivables	1.9B	2B	2.1B	2.4B	2.6B	3B	3.1B	3.6B	3.6B	3.7B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	8.3B	7.7B	7.6B	7.2B	8.3B	8.9B	8.6B	10.7B	11.4B	10.9B
Property, plant & equipment	684M	616M	640M	576M	529M	459M	635M	516M	472M	389M
Goodwill & intangibles	1.4B	754M	1.2B	1.9B	2.2B	2.1B	2.2B	2.1B	3B	3.2B
Total assets	12.9B	12.3B	12.3B	12.3B	14.8B	15.6B	15.3B	16.5B	17.4B	16.4B
Accounts payable	91M	127M	255M	387M	364M	547M	470M	474M	487M	500M
Short-term debt	—	—	—	82M	101M	115M	151M	235M	287M	333M
Total current liabilities	2.2B	2.2B	2.7B	2.8B	3.3B	4.4B	4.8B	4.7B	5B	5.5B
Long-term debt	—	—	0	530M	627M	607M	859M	767M	675M	634M
Total liabilities	2.2B	2.3B	2.9B	3.6B	4.3B	5.6B	6.1B	5.9B	6.2B	6.6B
Shareholders' equity	10.6B	10B	9.4B	8.7B	10.5B	10B	9.2B	10.6B	11.3B	9.8B
Total debt	—	—	0	612M	728M	722M	1B	1B	962M	967M
Net debt	—	—	-2.8B	-1.9B	-2.7B	-1.6B	-471M	-771M	-1.9B	-1.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	2.9B	2.6B	3.4B	3B	3.5B	3.7B	4.5B	4.1B	5B	3B	3.8B	3.2B
Receivables	3.4B	3.7B	3.6B	3.7B	3.8B	3.9B	3.6B	3.8B	3.8B	4B	3.7B	3.6B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	9.3B	9.3B	10.7B	11.5B	10.7B	10.2B	11.4B	11.2B	11.9B	10.1B	10.9B	10.4B
Property, plant & equipment	577M	—	516M	2.3B	—	425M	472M	—	470M	448M	389M	399M
Goodwill & intangibles	2.1B	1.1B	2.1B	1.1B	1.6B	3B	3B	1.7B	3.3B	3.3B	3.2B	4.1B
Total assets	15.7B	15.6B	16.5B	17.3B	16.9B	16.3B	17.4B	17.4B	18.1B	16B	16.4B	16.4B
Accounts payable	388M	460M	474M	443M	458M	429M	487M	422M	432M	537M	500M	463M
Short-term debt	231M	—	235M	—	—	293M	287M	—	312M	332M	333M	360M
Total current liabilities	4.7B	4.7B	4.7B	6.1B	4.9B	4.8B	5B	5.2B	5.2B	5.6B	5.5B	5.6B
Long-term debt	798M	802M	767M	740M	756M	667M	675M	693M	674M	646M	634M	563M
Total liabilities	5.9B	5.9B	5.9B	7.3B	6.1B	5.9B	6.2B	6.3B	6.4B	6.7B	6.6B	6.7B
Shareholders' equity	9.8B	9.7B	10.6B	10B	10.8B	10.4B	11.3B	11.1B	11.7B	9.3B	9.8B	9.7B
Total debt	1B	802M	1B	740M	756M	960M	962M	693M	986M	978M	967M	923M
Net debt	-863M	-838M	-771M	-1.2B	-1.8B	-1.7B	-1.9B	-2.5B	-2.6B	-1.2B	-1.4B	-1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	2.1B	2.5B	2.2B	2.3B	2.6B	3B	3B	3.2B	3.2B	3.3B
Depreciation & amortization	254M	289M	287M	407M	441M	466M	524M	565M	569M	552M
Stock-based compensation	17M	13M	29M	34M	45M	56M	64M	79M	95M	108M
Change in working capital	-221M	40M	37M	-342M	176M	67M	-400M	-472M	87M	1M
Operating cash flow	3B	3.4B	3.3B	3.1B	4.2B	4.6B	4.3B	4.4B	5.2B	4B
Capital expenditure	-411M	-310M	-349M	-465M	-285M	—	—	—	—	-306M
Investing cash flow	-2.6B	415M	-304M	-294M	-1.2B	-824M	-19M	-552M	-211M	-88M
Dividends paid	-1B	-1.2B	-2B	-1.4B	-1.2B	-1.7B	-1.7B	-1.8B	-2.4B	-2.1B
Share repurchases	0	-2B	-118M	-1.1B	0	-1.5B	-1.4B	0	0	-2B
Financing cash flow	-1B	-3.2B	-2.1B	-2.5B	-1.3B	-3.3B	-3.3B	-2.1B	-2.9B	-4.5B
Net change in cash	-631M	571M	872M	322M	1.7B	401M	963M	1.7B	2.1B	-534M
Free cash flow	1.7B	1.9B	1.9B	2.1B	3B	3.1B	2.5B	2.9B	4.1B	3.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q4 25	Q2 26	Q3 26	Q4 26	Q1 27
Net income	734M	776M	753M	689M	749M	800M	745M	814M	840M	747M	920M	820M
Depreciation & amortization	115M	120M	118M	123M	128M	137M	136M	150M	135M	130M	154M	131M
Stock-based compensation	13M	13M	15M	17M	17M	14M	16M	23M	26M	26M	28M	24M
Change in working capital	61M	4M	44M	-32M	-177M	-220M	29M	252M	-11M	260M	-39M	-81M
Operating cash flow	1.2B	1.2B	1.1B	1.1B	1B	1B	1.2B	1.5B	1.2B	962M	937M	1B
Capital expenditure	—	—	—	—	—	—	—	—	-56M	-47M	-104M	-81M
Investing cash flow	276M	-156M	-548M	-225M	-451M	361M	296M	-699M	-659M	847M	-731M	144M
Dividends paid	0	-842M	0	-856M	0	-841M	0	0	-1M	-1.1B	0	-1.1B
Share repurchases	-1.4B	0	0	0	—	—	-923M	0	—	—	-1M	—
Financing cash flow	-1.5B	-871M	-49M	-896M	-47M	-894M	-980M	-76M	-93M	-1.1B	-90M	-1.3B
Net change in cash	16M	167M	543M	-57M	506M	507M	497M	732M	405M	662M	116M	-78M
Free cash flow	712M	719M	761M	656M	589M	576M	713M	892M	1.1B	915M	833M	955M

Date	Ratio
Sep 11, 2018	2:1
Jun 25, 2015	2:1
Dec 8, 2014	2:1
Jul 18, 2006	2:1
Jul 7, 2004	2:1
Feb 15, 2000	2:1

Infosys Ltd. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history