The company maintains a conservative capital structure with a debt-to-equity ratio that has fluctuated between 0.56 and 0.80 over the last ten quarters, supported by a current ratio consistently above 1.44.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Total Current Assets | 2.41B | 2.66B | 2.08B | 1.89B | 1.78B | 1.92B | 1.75B | 1.55B | 1.36B | 1.43B | 1.23B | 1.2B | 1.19B | 1.28B | 1.13B | 985.12M | 935.78M | 847.14M | 744.33M | 671.86M | 242.9M | 187.15M |
| Cash & Short-Term Investments | 928.08M | 1.2B | 671.61M | 583.67M | 646.76M | 899.46M | 680.44M | 467.1M | 368.4M | 504.47M | 422.62M | 450.91M | 461.79M | 571.28M | 459.23M | 408.02M | 481.02M | 430.97M | 385.04M | 279.31M | 35.43M | 44.7M |
| Cash Only | 578.08M | 853.84M | 648.25M | 583.67M | 646.76M | 899.46M | 680.44M | 467.1M | 368.4M | 504.47M | 422.62M | 450.91M | 461.79M | 571.28M | 459.23M | 408.02M | 404.03M | 288.73M | 184.05M | 279.31M | 35.43M | 44.7M |
| Short-Term Investments | 350M | 350M | 23.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 76.98M | 142.24M | 200.99M | 0 | 0 | 0 |
| Accounts Receivable | 1.31B | 1.28B | 1.23B | 1.13B | 1.01B | 896.25M | 890.05M | 933.42M | 796.66M | 693.09M | 615.26M | 590.14M | 525.75M | 505.12M | 451.99M | 402.43M | 305.93M | 253.69M | 229.3M | 192.66M | 151.49M | 79.89M |
| Days Sales Outstanding | 92.19 | 91.93 | 94.27 | 92.43 | 84.03 | 81.33 | 87.58 | 96.77 | 96.9 | 92.43 | 87.36 | 87.52 | 84.19 | 86.48 | 86.74 | 91.78 | 88.69 | 82.67 | 80.41 | 85.48 | 90.19 | 59.28 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 150.22M | 191.44M | 172.51M | 134.15M | 187.64M | 192.69M | 208.26M | 0 | 0 | 0 | 128.56M | 155.84M | 4.41M | 3.46M |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 28.53 | 41.56 | 40.51 | 32.78 | 49.7 | 53.3 | 65.66 | - | - | - | 75.78 | 110.35 | 4.46 | 4.15 |
| Other Current Assets | 53.69M | 57.29M | 50.27M | 36.6M | 38.4M | 49.89M | 58.86M | 67.38M | 96.78M | 155.13M | 96.62M | 139.64M | 186.26M | 183.29M | 104.83M | 174.67M | 21.98M | 45.93M | 40.06M | 53.74M | 2.15M | 60.53M |
| Total Non-Current Assets | 3.21B | 3.19B | 2.91B | 2.91B | 2.81B | 3.05B | 3.12B | 2.9B | 2.17B | 2.02B | 1.66B | 1.6B | 1.55B | 1.41B | 1.48B | 1.42B | 957.68M | 900.42M | 951.99M | 1.07B | 838.39M | 783.05M |
| Property, Plant & Equipment | 368.09M | 372.16M | 408.98M | 393.74M | 405.48M | 519.98M | 585.92M | 618.37M | 212.72M | 207.03M | 200.12M | 175.4M | 175.94M | 173.2M | 200.36M | 180.5M | 197.17M | 189.11M | 174.27M | 195.66M | 157.98M | 113.51M |
| Fixed Asset Turnover | 13.62x | 13.65x | 11.66x | 11.37x | 10.78x | 7.74x | 6.33x | 5.69x | 14.11x | 13.22x | 12.85x | 14.03x | 12.96x | 12.31x | 9.49x | 8.87x | 6.39x | 5.92x | 5.97x | 4.20x | 3.88x | 4.33x |
| Goodwill | 1.77B | 1.78B | 1.67B | 1.68B | 1.68B | 1.73B | 1.7B | 1.57B | 1.39B | 1.34B | 1.07B | 1.04B | 1.06B | 953.85M | 956.06M | 925.34M | 570.15M | 548.72M | 531.9M | 601.12M | 493.45M | 477.11M |
| Intangible Assets | 69.74M | 67.04M | 26.95M | 53.03M | 89.72M | 169.63M | 236.73M | 230.86M | 177.09M | 131.59M | 72.05M | 98.6M | 114.54M | 99.12M | 112.39M | 113.29M | 33.35M | 36.23M | 62.17M | 109.63M | 131.59M | 171.83M |
| Long-Term Investments | 237.56M | 0 | 144.07M | 100.76M | 0 | 0 | 0 | 0 | 836K | 886K | 4.8M | 6.68M | 494K | 384K | 416K | 220K | 1.91M | 588K | 1M | 197K | 0 | 0 |
| Other Non-Current Assets | 737.39M | 707.8M | 387.8M | 383.98M | 494.45M | 526.67M | 499.63M | 389.09M | 315.35M | 262.17M | 242.33M | 180M | 146.71M | 97.36M | 116.55M | 107.04M | 120M | 89.25M | 71.66M | 162.8M | 53.83M | 20.36M |
| Total Assets | 5.62B | 5.84B | 4.99B | 4.81B | 4.59B | 4.98B | 4.87B | 4.45B | 3.53B | 3.45B | 2.89B | 2.79B | 2.74B | 2.69B | 2.61B | 2.4B | 1.89B | 1.75B | 1.7B | 1.74B | 1.08B | 970.2M |
| Asset Turnover | 0.93x | 0.87x | 0.96x | 0.93x | 0.95x | 0.81x | 0.76x | 0.79x | 0.85x | 0.79x | 0.89x | 0.88x | 0.83x | 0.79x | 0.73x | 0.67x | 0.66x | 0.64x | 0.61x | 0.47x | 0.57x | 0.51x |
| Asset Growth % | 35.14% | 17.17% | 3.78% | 4.73% | -7.77% | 2.09% | 9.41% | 26.2% | 2.31% | 19.53% | 3.31% | 1.86% | 1.98% | 3.2% | 8.43% | 26.93% | 8.35% | 3.02% | -2.7% | 61.24% | 11.45% | - |
| Total Current Liabilities | 1.43B | 1.6B | 963.74M | 1.32B | 1.1B | 1.31B | 1.2B | 910.21M | 976.31M | 838.78M | 731.35M | 594.48M | 622.11M | 461.69M | 517.82M | 661.83M | 322.55M | 395.58M | 426.61M | 271.44M | 263.85M | 175.31M |
| Accounts Payable | 26.23M | 27.53M | 36.47M | 27.74M | 35.81M | 24.98M | 13.91M | 21.98M | 42.58M | 15.05M | 9.77M | 10.09M | 15.54M | 18.41M | 18.65M | 20.95M | 12.21M | 16.28M | 8.38M | 12.45M | 9.23M | 7.3M |
| Days Payables Outstanding | 3.69 | 3.07 | 4.33 | 3.48 | 4.61 | 3.52 | 2.1 | 3.5 | 8.09 | 3.27 | 2.29 | 2.46 | 4.12 | 5.09 | 5.88 | 7.61 | 5.65 | 8.83 | 4.94 | 8.81 | 9.34 | 8.77 |
| Short-Term Debt | 439.37M | 437.69M | 26.17M | 442.24M | 177.14M | 383.43M | 283.54M | 103.51M | 328.48M | 209.23M | 199.18M | 60.63M | 140.73M | 5.67M | 86.28M | 282.78M | 26.84M | 46.85M | 56.55M | 22.8M | 105.26M | 22.01M |
| Deferred Revenue (Current) | 617.95M | 203.13M | 105.67M | 112.44M | 160.63M | 160.6M | 154.72M | 97.31M | 64.74M | 77.71M | 72.52M | 64.79M | 69.65M | 65.23M | 62.27M | 20.12M | 8.06M | 74.9M | 54.72M | 7.04M | 13.21M | 4.33M |
| Other Current Liabilities | 520M | 473.56M | 62.46M | 281.14M | 485.6M | 447.73M | 480.94M | 391.59M | 271.63M | 279.65M | 227.4M | 257.54M | 346.39M | 333.73M | 289.21M | 224.25M | 183.06M | 241.41M | 229.92M | 169.15M | 78.76M | 46.44M |
| Current Ratio | 1.69x | 1.66x | 2.16x | 1.44x | 1.61x | 1.47x | 1.45x | 1.70x | 1.39x | 1.71x | 1.68x | 2.01x | 1.91x | 2.76x | 2.18x | 1.49x | 2.90x | 2.14x | 1.74x | 2.48x | 0.92x | 1.07x |
| Quick Ratio | 1.69x | 1.66x | 2.16x | 1.44x | 1.61x | 1.47x | 1.45x | 1.70x | 1.23x | 1.48x | 1.44x | 1.78x | 1.61x | 2.35x | 1.78x | 1.49x | 2.90x | 2.14x | 1.44x | 1.90x | 0.90x | 1.05x |
| Cash Conversion Cycle | 88.51 | - | - | - | - | - | - | - | 117.35 | 130.72 | 125.57 | 117.84 | 129.77 | 134.68 | 146.52 | - | - | - | 151.25 | 187.01 | 85.32 | 54.67 |
| Total Non-Current Liabilities | 1.72B | 1.69B | 1.63B | 1.24B | 1.66B | 1.77B | 1.84B | 1.85B | 1.15B | 1.19B | 867.88M | 894.65M | 835.29M | 903.61M | 916.33M | 305.88M | 89.67M | 152.24M | 425.35M | 218.23M | 192.75M | 202.93M |
| Long-Term Debt | 1.16B | 1.17B | 1.2B | 824.72M | 1.25B | 1.27B | 1.31B | 1.34B | 975.64M | 1.01B | 698.15M | 737.33M | 649.31M | 653.6M | 656.88M | 73.93M | 0 | 24.95M | 69.67M | 102.78M | 125.59M | 137.3M |
| Capital Lease Obligations | 656.67M | 160.53M | 162.4M | 174.89M | 202.2M | 264M | 320.32M | 322.82M | 1.71M | 2.66M | 2.5M | 2.2M | 2.66M | 2.66M | 2.53M | 1.7M | 2.49M | 3.38M | 4.34M | 3.11M | 0 | 1.9M |
| Deferred Tax Liabilities | 75.97M | 21.08M | 15.91M | 11.71M | 4.18M | 3.94M | 1.52M | 3.99M | 8.08M | 6.75M | 2.42M | 2.09M | 6.67M | 4.46M | 6.07M | 1.91M | 2.95M | 4.4M | 10.17M | 40.74M | 20.48M | 27.54M |
| Other Non-Current Liabilities | 332.96M | 296.44M | 209.89M | 168.68M | 147.65M | 148.69M | 138.68M | 109.58M | 109.72M | 94.25M | 85.36M | 81.8M | 124.22M | 195.48M | 176.83M | 197.08M | 84.23M | 119.51M | 341.17M | 27.89M | 46.68M | 31.86M |
| Total Liabilities | 3.14B | 3.29B | 2.6B | 2.56B | 2.76B | 3.08B | 3.04B | 2.77B | 2.13B | 2.03B | 1.6B | 1.49B | 1.46B | 1.37B | 1.43B | 967.7M | 412.22M | 547.82M | 851.96M | 489.67M | 456.6M | 378.23M |
| Total Debt | 1.76B | 1.76B | 1.45B | 1.5B | 1.7B | 2B | 1.99B | 1.83B | 1.3B | 1.22B | 897.33M | 797.97M | 792.71M | 661.93M | 745.7M | 358.41M | 29.33M | 85.65M | 130.55M | 128.69M | 230.85M | 161.21M |
| Net Debt | 1.18B | 910.66M | 796.85M | 919.33M | 1.05B | 1.1B | 1.31B | 1.37B | 935.73M | 711.45M | 474.71M | 347.06M | 330.92M | 90.65M | 286.47M | -49.61M | -374.7M | -203.08M | -53.5M | -150.61M | 195.42M | 116.52M |
| Debt / Equity | 0.71x | 0.69x | 0.60x | 0.67x | 0.93x | 1.05x | 1.08x | 1.09x | 0.26x | 0.85x | 0.69x | 0.61x | 0.62x | 0.50x | 0.64x | 0.25x | 0.02x | 0.07x | 0.15x | 0.10x | 0.37x | 0.27x |
| Debt / EBITDA | 2.07x | 2.06x | 1.81x | 2.05x | 2.69x | 2.96x | 3.32x | 3.29x | 2.89x | 2.85x | 2.12x | 1.91x | 2.12x | 1.71x | 2.17x | 1.22x | 0.12x | 0.35x | 0.58x | 0.74x | 1.91x | 1.67x |
| Net Debt / EBITDA | 1.39x | 1.07x | 1.00x | 1.25x | 1.66x | 1.63x | 2.18x | 2.45x | 2.07x | 1.67x | 1.12x | 0.83x | 0.89x | 0.23x | 0.83x | -0.17x | -1.49x | -0.84x | -0.24x | -0.87x | 1.61x | 1.21x |
| Interest Coverage | 22.34x | 15.72x | 9.51x | 10.08x | 9.01x | 9.29x | 8.12x | 8.87x | 8.46x | 9.03x | 15.07x | 11.12x | 8.38x | 9.57x | 10.35x | 29.41x | 68.14x | 38.03x | 17.94x | 6.15x | 3.53x | 2.01x |
| Total Equity | 2.48B | 2.55B | 2.39B | 2.25B | 1.83B | 1.9B | 1.83B | 1.69B | 4.93B | 1.43B | 1.29B | 1.3B | 1.29B | 1.32B | 1.17B | 1.44B | 1.48B | 1.2B | 844.37M | 1.25B | 624.7M | 591.97M |
| Equity Growth % | 24.49% | 6.69% | 6.28% | 23.12% | -3.74% | 3.43% | 8.59% | -65.76% | 245.3% | 10.66% | -1.01% | 1.5% | -2.94% | 13% | -18.38% | -3.08% | 23.46% | 42.09% | -32.66% | 100.71% | 5.53% | - |
| Book Value per Share | 14.32 | 14.43 | 13.24 | 12.14 | 9.71 | 9.83 | 9.37 | 8.66 | 25.43 | 7.25 | 6.14 | 5.95 | 5.71 | 5.62 | 5.11 | 6.34 | 6.59 | 5.45 | 3.87 | 6.19 | 15.92 | 8.60 |
| Total Shareholders' Equity | 2.48B | 2.55B | 2.39B | 2.25B | 1.83B | 1.9B | 1.83B | 1.69B | 1.4B | 1.42B | 1.29B | 1.3B | 1.29B | 1.32B | 1.17B | 1.43B | 1.48B | 1.2B | 841.79M | 1.25B | 624.7M | 591.97M |
| Common Stock | 1.69M | 1.7M | 1.74M | 1.79M | 1.82M | 1.85M | 1.89M | 1.9M | 1.89M | 1.92M | 1.98M | 2.11M | 2.18M | 2.31M | 2.25M | 2.22M | 2.21M | 2.17M | 2.15M | 2.12M | 12.23M | 12.21M |
| Retained Earnings | 1.44B | 1.39B | 1.24B | 1.09B | 780.01M | 732.47M | 741.66M | 648.66M | 438.45M | 355.98M | 358.12M | 411.51M | 398.71M | 511.7M | 281.98M | 605.39M | 421.09M | 278.91M | 151.61M | 26.47M | 5.98M | 681K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -49.99M | 0 |
| Accumulated OCI | -984.49M | -861.44M | -794.09M | -722.55M | -733.13M | -554.35M | -545.34M | -531.96M | -507.46M | -355.23M | -457.93M | -451.29M | -412.48M | -459.61M | -318.27M | -320.75M | -50.24M | -146.99M | -342.27M | 221.96M | -15.29M | -53.47M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.53B | 4.75M | 4.52M | 0 | 0 | 1.33M | 3.37M | 2.63M | 2.57M | 2.35M | 2.57M | 3.07M | 0 | 0 |
Working capital volatility
According to the provided financial data, Genpact has steadily grown its total assets from $4.8 billion in 2023Q4 to $5.6 billion by 2026Q1, reflecting a consistent expansion of the balance sheet that appears to support the company's ongoing investment in digital transformation and service delivery capabilities.
The steady increase in total assets suggests that the company is successfully scaling its operations to meet client demand for complex, integrated business services. Investors should monitor whether this asset growth continues to translate into proportional revenue gains or if it indicates an accumulation of underutilized capital.
As reported in the quarterly balance sheets, Genpact maintains a disciplined debt-to-equity ratio that fluctuated between 0.56 and 0.80 over the last ten quarters, signaling that management prioritizes a conservative capital structure despite the capital-intensive nature of global IT services and business process outsourcing.
The current debt level appears manageable, providing the firm with sufficient financial flexibility to navigate potential economic downturns or fund strategic acquisitions. This moderate leverage profile suggests that the company is not overly reliant on external financing to sustain its core operations or capital return programs.
Based on the reported figures, goodwill accounts for approximately $1.8 billion of the $5.6 billion total asset base as of 2026Q1, representing a significant portion of the company's valuation that is inherently sensitive to the long-term performance of past acquisitions and integration success.
The high concentration of intangible assets suggests that Genpact's market position is heavily reliant on the value derived from previous inorganic growth strategies. Investors should remain cautious, as any impairment of these assets could materially impact the company's book value and overall financial health.
As evidenced by the quarterly data, Genpact's current ratio has remained consistently above 1.44 over the last ten quarters, indicating a robust liquidity position that provides a necessary buffer against the working capital volatility often associated with large-scale, multi-year managed services contracts and billing cycles.
The company's ability to maintain a healthy current ratio suggests that it is well-positioned to meet its short-term obligations without needing to tap into expensive credit facilities. This liquidity strength appears to be a key component of the firm's defensive profile in the competitive IT services industry.
Quick answers to the most common questions about buying G stock.
As of 2025, Genpact Limited (G) had total assets of $5.84B including $2.66B in current assets.
Genpact Limited (G) carries total debt of $1.76B, offset by $1.20B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Genpact Limited (G) has total shareholders' equity (book value) of $2.55B ($14.43 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Genpact Limited (G) reported a current ratio of 1.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.