Infosys Limited (INFY) Financial Ratios
27 years of historical data (1999–2025) · Technology · Information Technology Services
EV/EBITDA
↓
8.83
↓-53% vs avg
5yr avg: 18.85
30Y Low8.5·High53.2
P/FCF
↓
10.49
↓-61% vs avg
5yr avg: 26.86
30Y Low13.5·High127.7
P/B Ratio
↓
3.90
↓-51% vs avg
5yr avg: 7.95
30Y Low3.4·High128.3
ROE
↑
28.9%
-2% vs avg
5yr avg: 29.6%
30Y Low12%·High52%
Debt/EBITDA
↑
0.21
+0% vs avg
5yr avg: 0.21
30Y Low0.2·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
INFY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Infosys Limited trades at 13.9x earnings, 50% below its 5-year average of 27.7x, sitting at the 4th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 52%. On a free-cash-flow basis, the stock trades at 10.5x P/FCF, 61% below the 5-year average of 26.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $42.9B | $75.8B | $74.3B | $73.0B | $105.0B | $79.6B | $35.0B | $47.6B | $40.3B | $36.1B | $43.5B |
| Enterprise Value | $41.0B | $73.9B | $73.5B | $72.6B | $103.4B | $76.9B | $33.2B | $44.8B | $37.3B | $32.6B | $38.5B |
| P/E Ratio → | 13.91 | 24.01 | 23.59 | 24.56 | 35.56 | 30.69 | 14.93 | 21.43 | 16.24 | 16.81 | 21.13 |
| P/S Ratio | 2.22 | 3.93 | 4.00 | 4.01 | 6.44 | 5.87 | 2.74 | 4.03 | 3.69 | 3.54 | 4.58 |
| P/B Ratio | 3.90 | 6.73 | 7.01 | 7.92 | 10.51 | 7.58 | 4.02 | 5.06 | 4.05 | 3.40 | 4.66 |
| P/FCF | 10.49 | 18.54 | 25.79 | 28.82 | 34.37 | 26.77 | 16.32 | 24.87 | 20.71 | 21.40 | 30.00 |
| P/OCF | 9.85 | 17.42 | 23.61 | 25.60 | 31.39 | 24.42 | 13.41 | 21.04 | 17.86 | 17.21 | 23.35 |
P/E links to full P/E history page with 30-year chart
INFY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Infosys Limited's enterprise value stands at 8.8x EBITDA, 53% below its 5-year average of 18.8x. The Technology sector median is 16.7x, placing the stock at a 47% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.83 | 3.96 | 3.98 | 6.34 | 5.67 | 2.59 | 3.79 | 3.41 | 3.20 | 4.06 |
| EV / EBITDA | 8.83 | 15.92 | 16.72 | 16.68 | 24.50 | 20.43 | 10.59 | 15.00 | 12.65 | 11.77 | 14.84 |
| EV / EBIT | 10.06 | 16.43 | 16.71 | 17.35 | 25.45 | 21.29 | 12.17 | 14.90 | 14.02 | 12.95 | 16.28 |
| EV / FCF | — | 18.07 | 25.52 | 28.64 | 33.85 | 25.87 | 15.45 | 23.39 | 19.15 | 19.33 | 26.60 |
INFY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Infosys Limited earns an operating margin of 21.1%. ROE of 28.9% indicates solid capital efficiency. ROIC of 31.8% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.5% | 30.5% | 30.1% | 30.2% | 32.6% | 34.9% | 33.1% | 34.9% | 36.0% | 36.9% | 37.4% |
| Operating Margin | 21.1% | 21.1% | 20.7% | 21.0% | 23.0% | 24.5% | 21.3% | 22.8% | 24.3% | 24.7% | 25.0% |
| Net Profit Margin | 16.4% | 16.4% | 17.1% | 16.4% | 18.2% | 19.3% | 18.2% | 18.6% | 22.7% | 21.0% | 21.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.9% | 28.9% | 32.0% | 31.0% | 28.9% | 27.2% | 25.8% | 22.7% | 24.1% | 21.4% | 22.7% |
| ROA | 18.6% | 18.6% | 19.9% | 19.3% | 19.5% | 19.3% | 19.0% | 17.9% | 19.8% | 17.7% | 18.7% |
| ROIC | 31.8% | 31.8% | 30.9% | 33.4% | 34.6% | 33.9% | 30.4% | 30.0% | 28.4% | 32.8% | 43.0% |
| ROCE | 33.5% | 33.5% | 34.2% | 35.3% | 33.1% | 31.6% | 28.6% | 27.4% | 25.6% | 25.1% | 26.1% |
INFY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Infosys Limited carries a Debt/EBITDA ratio of 0.2x, which is very conservative (93% below the sector average of 2.9x). The company holds a net cash position — cash of $2.9B exceeds total debt of $962M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 91.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.09 | 0.11 | 0.07 | 0.07 | 0.07 | — | — | — | — |
| Debt / EBITDA | 0.21 | 0.21 | 0.23 | 0.23 | 0.17 | 0.19 | 0.20 | — | — | — | — |
| Net Debt / Equity | — | -0.17 | -0.07 | -0.05 | -0.16 | -0.25 | -0.21 | -0.30 | -0.31 | -0.33 | -0.53 |
| Net Debt / EBITDA | -0.41 | -0.41 | -0.18 | -0.11 | -0.37 | -0.70 | -0.59 | -0.95 | -1.03 | -1.26 | -1.90 |
| Debt / FCF | — | -0.46 | -0.27 | -0.19 | -0.52 | -0.89 | -0.86 | -1.48 | -1.56 | -2.07 | -3.41 |
| Interest Coverage | 91.40 | 91.40 | 78.61 | 119.47 | 150.48 | 137.55 | 113.50 | — | — | — | — |
Net cash position: cash ($2.9B) exceeds total debt ($962M)
INFY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Infosys Limited's current ratio of 2.27x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.81x to 2.27x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.27 | 2.27 | 2.31 | 1.81 | 2.00 | 2.55 | 2.62 | 2.84 | 3.55 | 3.83 | 3.90 |
| Quick Ratio | 2.27 | 2.27 | 2.31 | 1.81 | 2.00 | 2.55 | 2.62 | 2.84 | 3.55 | 3.83 | 3.90 |
| Cash Ratio | 0.90 | 0.90 | 0.72 | 0.49 | 0.73 | 1.15 | 1.12 | 1.41 | 1.86 | 2.33 | 2.48 |
| Asset Turnover | — | 1.11 | 1.12 | 1.19 | 1.05 | 0.91 | 1.04 | 0.96 | 0.89 | 0.79 | 0.84 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 112.77 | 128.23 | 109.19 | 108.87 | 109.33 | 96.65 | 90.36 | 89.09 | 88.03 | 83.25 |
INFY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Infosys Limited returns 5.5% to shareholders annually primarily through dividends. The payout ratio of 76.5% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 7.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.5% | 3.2% | 2.4% | 2.3% | 1.6% | 1.5% | 3.9% | 4.1% | 2.9% | 2.9% | 2.4% |
| Payout Ratio | 76.5% | 76.5% | 56.1% | 56.9% | 57.5% | 46.9% | 58.3% | 88.9% | 46.5% | 48.2% | 51.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 4.2% | 4.2% | 4.1% | 2.8% | 3.3% | 6.7% | 4.7% | 6.2% | 5.9% | 4.7% |
| FCF Yield | 9.5% | 5.4% | 3.9% | 3.5% | 2.9% | 3.7% | 6.1% | 4.0% | 4.8% | 4.7% | 3.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.9% | 1.4% | 0.0% | 3.1% | 0.2% | 5.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.5% | 3.2% | 2.4% | 4.2% | 3.1% | 1.5% | 6.9% | 4.4% | 7.9% | 2.9% | 2.4% |
| Shares Outstanding | — | $4.2B | $4.1B | $4.2B | $4.2B | $4.3B | $4.3B | $4.4B | $4.5B | $4.6B | $4.6B |
Peer Comparison
Compare INFY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 INFYYou | $43B | 13.9 | 8.8 | 10.5 | 30.5% | 21.1% | 28.9% | 31.8% | 0.2 |
 WIT | $25B | 18.1 | 13.4 | 15.4 | 30.7% | 17.0% | 16.8% | 13.4% | 1.1 |
 CTSH | $21B | 9.6 | 5.0 | 8.0 | 33.7% | 16.7% | 15.2% | 18.7% | 0.4 |
 MPWR | $77B | 122.6 | 97.1 | 115.3 | 55.2% | 26.1% | 18.4% | 22.2% | 0.0 |
 ACN | $80B | 10.7 | 6.1 | 7.4 | 31.9% | 14.7% | 25.0% | 26.8% | 0.6 |
 IBM | $234B | 22.3 | 18.7 | 20.2 | 59.5% | 15.3% | 35.2% | 9.8% | 4.4 |
 EPAM | $4B | 11.4 | 4.4 | 6.5 | 26.5% | 9.6% | 10.3% | 15.5% | 0.2 |
 GLOB | $1B | 13.4 | 4.7 | 5.1 | 35.0% | 7.0% | 4.9% | 5.5% | 1.4 |
 LDOS | $13B | 9.6 | 7.6 | 8.3 | 17.7% | 12.3% | 30.9% | 17.1% | 2.5 |
 DXC | $1B | 86.0 | 2.8 | 1.4 | 14.8% | 2.0% | 0.5% | 3.2% | 3.0 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 27 years · Updated daily
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INFY — Frequently Asked Questions
Quick answers to the most common questions about buying INFY stock.
What is Infosys Limited's P/E ratio?
Infosys Limited's current P/E ratio is 13.9x. The historical average is 33.2x. This places it at the 4th percentile of its historical range.
What is Infosys Limited's EV/EBITDA?
Infosys Limited's current EV/EBITDA is 8.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.9x.
What is Infosys Limited's ROE?
Infosys Limited's return on equity (ROE) is 28.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 30.1%.
Is INFY stock overvalued?
Based on historical data, Infosys Limited is trading at a P/E of 13.9x. This is at the 4th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Infosys Limited's dividend yield?
Infosys Limited's current dividend yield is 5.50% with a payout ratio of 76.5%.
What are Infosys Limited's profit margins?
Infosys Limited has 30.5% gross margin and 21.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Infosys Limited have?
Infosys Limited's Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.