Wipro Limited (WIT) 10-Year Financial Performance & Capital Metrics

WIT • • Industrial / General

TechnologyIT ServicesIT Consulting & Professional ServicesGlobal IT Consulting Giants

AboutWipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises. It serves customers in various industry sectors, such as healthcare and medical devices, consumer goods and life sciences, retail, transportation and services, communications, media and information services, technology products and platforms, banking, financial services and insurance, manufacturing, hi-tech, energy, and utilities. The IT Products segment provides a range of third-party IT products comprising enterprise platforms, networking solutions, software and data storage products, contact center infrastructure, enterprise security, IT optimization technologies, video solutions, and end-user computing solutions. It serves enterprises in various industries primarily in the India market, which comprise the government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education, and financial services sectors. The ISRE segment offers IT services to entities and departments owned or controlled by the Government of India and/or various Indian State Governments. The company was incorporated in 1945 and is based in Bengaluru, India.Show more

Revenue $890.88B -0.7%
EBITDA $180.85B +6.3%
Net Income $131.35B +18.9%
EPS (Diluted) 12.53 +20.4%
Gross Margin 30.65% +3.4%
EBITDA Margin 20.3% +7.1%
Operating Margin 16.98% +12.0%
Net Margin 14.74% +19.8%
ROE 16.61% +15.3%
ROIC 13.2% +8.8%
Debt/Equity 0.23 +5.5%
Interest Coverage 16.36 +50.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 17.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 15.6%
✓Healthy 5Y average net margin of 14.5%
✓Trading at only 0.0x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.61%

5Y7.86%

3Y4.05%

TTM1.1%

Profit (Net Income) CAGR

10Y4.26%

5Y6.2%

3Y2.44%

TTM15.04%

EPS CAGR

10Y6.64%

5Y8.56%

3Y3.97%

TTM14.79%

ROCE

10Y Avg17.63%

5Y Avg17.71%

3Y Avg15.87%

Latest15.92%

Peer Comparison

Global IT Consulting Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IBMInternational Business Machines Corporation	278.5B	297.95	46.34	1.44%	12.09%	28.25%	4.22%	2.13
INFYInfosys Limited	76.14B	18.82	24.76	3.85%	16.58%	27.92%	5.37%	0.09
ACNAccenture plc	177.1B	287.77	23.68	7.36%	10.76%	23.84%	6.14%	0.25
CTSHCognizant Technology Solutions Corporation	40.94B	84.82	18.81	1.98%	10.2%	14.28%	4.46%	0.10
SAICScience Applications International Corporation	4.99B	110.65	15.43	0.47%	5.05%	24.54%	9.17%	1.52
GIBCGI Inc.	17.8B	92.64	12.60	8.43%	10.42%	16.13%	11.89%	0.43
DXCDXC Technology Company	2.58B	14.84	7.07	-5.82%	2.93%	11.18%	31.81%	1.30
WITWipro Limited	31.11B	2.97	0.24	-0.75%	15.06%	15.66%	100%	0.23

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	512.44B	550.4B	544.87B	585.85B	610.23B	619.43B	790.93B	904.88B	897.6B	890.88B
Revenue Growth %	0.09%	0.07%	-0.01%	0.08%	0.04%	0.02%	0.28%	0.14%	-0.01%	-0.01%
Cost of Goods Sold+	356.72B	391.54B	385.57B	413.03B	436.08B	423.2B	555.87B	645.45B	631.5B	617.8B
COGS % of Revenue	0.7%	0.71%	0.71%	0.71%	0.71%	0.68%	0.7%	0.71%	0.7%	0.69%
Gross Profit+	155.72B	158.86B	159.3B	172.81B	174.15B	196.22B	235.06B	259.43B	266.11B	273.08B
Gross Margin %	0.3%	0.29%	0.29%	0.29%	0.29%	0.32%	0.3%	0.29%	0.3%	0.31%
Gross Profit Growth %	0.05%	0.02%	0%	0.08%	0.01%	0.13%	0.2%	0.1%	0.03%	0.03%
Operating Expenses+	62.72B	68.76B	76.49B	76.12B	71.59B	76.17B	99.13B	124.3B	130.01B	121.81B
OpEx % of Revenue	0.12%	0.12%	0.14%	0.13%	0.12%	0.12%	0.13%	0.14%	0.14%	0.14%
Selling, General & Admin	59.14B	64.51B	76.49B	80.46B	72.73B	76.09B	93.81B	114.8B	119.75B	113.79B
SG&A % of Revenue	0.12%	0.12%	0.14%	0.14%	0.12%	0.12%	0.12%	0.13%	0.13%	0.13%
Research & Development	2.56B	3.34B	3.04B	3.94B	4.62B	3.7B	2.93B	3.67B	0	0
R&D % of Revenue	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0%	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	10.25B	8.02B
Operating Income+	96.86B	93.88B	84.29B	99.91B	105.73B	123.05B	140.29B	139.61B	136.1B	151.27B
Operating Margin %	0.19%	0.17%	0.15%	0.17%	0.17%	0.2%	0.18%	0.15%	0.15%	0.17%
Operating Income Growth %	0.02%	-0.03%	-0.1%	0.19%	0.06%	0.16%	0.14%	-0%	-0.03%	0.11%
EBITDA+	111.83B	113.93B	104.78B	117.07B	126.59B	148.29B	171.2B	171.19B	170.17B	180.85B
EBITDA Margin %	0.22%	0.21%	0.19%	0.2%	0.21%	0.24%	0.22%	0.19%	0.19%	0.2%
EBITDA Growth %	0.03%	0.02%	-0.08%	0.12%	0.08%	0.17%	0.15%	-0%	-0.01%	0.06%
D&A (Non-Cash Add-back)	14.96B	20.05B	20.48B	17.16B	20.86B	25.24B	30.91B	31.59B	34.07B	29.58B
EBIT	116.14B	113.03B	105.92B	121.03B	127.65B	143.18B	156.6B	157.79B	159.76B	184.2B
Net Interest Income+	19.16B	15.39B	14.36B	14.64B	16.63B	14.14B	7.79B	6.81B	6.93B	17.96B
Interest Income	20.36B	18.07B	17.81B	20.26B	21.76B	18.44B	13.11B	16.89B	19.48B	27.21B
Interest Expense	1.21B	2.67B	3.45B	5.62B	5.14B	4.3B	5.33B	10.08B	12.55B	9.25B
Other Income/Expense	18.07B	16.48B	18.18B	15.51B	16.78B	15.95B	10.99B	8.05B	11.11B	23.69B
Pretax Income+	114.93B	110.36B	102.47B	115.42B	122.51B	139.01B	151.28B	147.66B	147.21B	174.96B
Pretax Margin %	0.22%	0.2%	0.19%	0.2%	0.2%	0.22%	0.19%	0.16%	0.16%	0.2%
Income Tax+	25.37B	25.21B	22.39B	25.24B	24.8B	30.34B	28.95B	33.99B	36.09B	42.78B
Effective Tax Rate %	0.78%	0.77%	0.78%	0.78%	0.79%	0.78%	0.81%	0.77%	0.75%	0.75%
Net Income+	89.08B	84.89B	80.08B	90.03B	97.22B	107.95B	122.19B	113.5B	110.45B	131.35B
Net Margin %	0.17%	0.15%	0.15%	0.15%	0.16%	0.17%	0.15%	0.13%	0.12%	0.15%
Net Income Growth %	0.03%	-0.05%	-0.06%	0.12%	0.08%	0.11%	0.13%	-0.07%	-0.03%	0.19%
Net Income (Continuing)	89.57B	85.14B	80.08B	90.22B	97.68B	108.53B	122.27B	113.72B	111.12B	132.18B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	2.21B	2.39B	2.41B	2.64B	1.88B	1.5B	515M	589M	1.34B	2.14B
EPS (Diluted)+	6.78	6.54	6.31	7.48	8.31	9.54	11.15	10.34	10.41	12.53
EPS Growth %	0.03%	-0.04%	-0.04%	0.19%	0.11%	0.15%	0.17%	-0.07%	0.01%	0.2%
EPS (Basic)	6.79	6.56	6.32	7.50	8.34	9.56	11.18	10.36	10.45	12.56
Diluted Shares Outstanding	13.13B	12.99B	12.69B	12.04B	11.7B	11.32B	10.96B	10.98B	10.61B	10.48B
Basic Shares Outstanding	13.1B	12.95B	12.67B	12.01B	11.67B	11.3B	10.93B	10.95B	10.58B	10.46B
Dividend Payout Ratio	0.4%	0.1%	0.07%	0.05%	0.07%	0.05%	0.04%	0.29%	0.05%	0.48%

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	502.82B	538.9B	506.16B	571.91B	519.85B	523.19B	620.75B	661.1B	650.66B	777.77B
Cash & Short-Term Investments	303.29B	349.92B	296.69B	388.63B	335.19B	346.12B	351.28B	401.87B	407.79B	532.37B
Cash Only	99.05B	52.71B	44.92B	158.53B	144.5B	169.79B	103.84B	91.88B	96.95B	121.97B
Short-Term Investments	204.24B	297.21B	251.77B	230.1B	190.69B	176.33B	247.44B	309.99B	313.54B	410.4B
Accounts Receivable	164B	153.95B	145.75B	140.03B	149.64B	141.37B	201.74B	215.54B	230.48B	218.36B
Days Sales Outstanding	116.81	102.09	97.63	87.24	89.5	83.3	93.1	86.94	93.72	89.46
Inventory	5.39B	3.92B	3.37B	3.95B	1.86B	1.06B	1.33B	1.19B	907M	694M
Days Inventory Outstanding	5.51	3.65	3.19	3.49	1.56	0.92	0.88	0.67	0.52	0.41
Other Current Assets	14.12B	16.18B	63.02B	37B	25.14B	23.75B	57B	24.75B	25.41B	5.28B
Total Non-Current Assets+	221.18B	254.62B	254.48B	261.26B	297.21B	308.25B	458.43B	514.73B	501.8B	508.75B
Property, Plant & Equipment	64.95B	69.79B	64.44B	70.6B	97.87B	101.61B	109.77B	107.36B	99.56B	106.28B
Fixed Asset Turnover	7.89x	7.89x	8.46x	8.30x	6.24x	6.10x	7.21x	8.43x	9.02x	8.38x
Goodwill	101.99B	125.8B	117.58B	116.98B	131.01B	139.13B	246.99B	307.97B	316B	325.01B
Intangible Assets	24.38B	24.75B	25.71B	20.09B	20.9B	13.09B	43.55B	43.05B	32.75B	27.45B
Long-Term Investments	4.91B	7.1B	9.12B	8.93B	11.49B	12.37B	20.31B	21.52B	22.67B	27.79B
Other Non-Current Assets	20.67B	24.07B	30.71B	39.07B	29.94B	40.39B	35.51B	32.73B	28.99B	19.65B
Total Assets+	724B	793.52B	760.64B	833.17B	817.06B	831.43B	1.08T	1.18T	1.15T	1.29T
Asset Turnover	0.71x	0.69x	0.72x	0.70x	0.75x	0.75x	0.73x	0.77x	0.78x	0.69x
Asset Growth %	0.21%	0.1%	-0.04%	0.1%	-0.02%	0.02%	0.3%	0.09%	-0.02%	0.12%
Total Current Liabilities+	218.56B	229.54B	213.51B	214.35B	216.39B	230.04B	308.33B	267.75B	252.46B	286.25B
Accounts Payable	23.45B	23.45B	24.41B	28.53B	27.05B	23.23B	28.68B	21.73B	23.27B	21.98B
Days Payables Outstanding	23.99	21.86	23.1	25.21	22.64	20.04	18.83	12.29	13.45	12.99
Short-Term Debt	107.86B	122.8B	92.99B	71.1B	73.2B	75.87B	95.23B	88.82B	79.17B	97.86B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	54.39B	50.73B	59.12B	68.99B	65.25B	68.15B	116.69B	89.15B	34.31B	34.46B
Current Ratio	2.30x	2.35x	2.37x	2.67x	2.40x	2.27x	2.01x	2.47x	2.58x	2.72x
Quick Ratio	2.28x	2.33x	2.35x	2.65x	2.39x	2.27x	2.01x	2.46x	2.57x	2.71x
Cash Conversion Cycle	98.34	83.88	77.72	65.52	68.42	64.18	75.14	75.33	80.79	76.88
Total Non-Current Liabilities+	38.06B	41.28B	61.79B	48.07B	41.34B	46.8B	112.18B	126.32B	148.78B	169.82B
Long-Term Debt	17.36B	19.61B	45.27B	27.87B	4.84B	7.46B	56.46B	61.27B	62.3B	63.95B
Capital Lease Obligations	4.66B	1.72B	-11.02B	496M	12.64B	13.51B	15.18B	15.95B	13.96B	22.19B
Deferred Tax Liabilities	5.11B	6.61B	3.06B	3.42B	2.83B	4.63B	12.14B	15.15B	17.47B	16.44B
Other Non-Current Liabilities	3.06B	13.33B	2.44B	3.17B	3.92B	21.07B	7.81B	9.04B	55.05B	66.2B
Total Liabilities	256.62B	270.82B	275.29B	262.42B	257.73B	276.84B	420.51B	394.07B	401.24B	456.07B
Total Debt+	125.22B	142.41B	138.26B	99.47B	97.24B	104.51B	175.93B	174.67B	164.65B	192.03B
Net Debt	26.17B	89.7B	93.33B	-59.06B	-47.26B	-65.28B	72.09B	82.79B	67.7B	70.06B
Debt / Equity	0.27x	0.27x	0.28x	0.17x	0.17x	0.19x	0.27x	0.22x	0.22x	0.23x
Debt / EBITDA	1.12x	1.25x	1.32x	0.85x	0.77x	0.70x	1.03x	1.02x	0.97x	1.06x
Net Debt / EBITDA	0.23x	0.79x	0.89x	-0.50x	-0.37x	-0.44x	0.42x	0.48x	0.40x	0.39x
Interest Coverage	80.32x	35.09x	24.43x	17.79x	20.59x	28.63x	26.34x	13.85x	10.84x	16.36x
Total Equity+	467.38B	522.7B	485.35B	570.75B	559.33B	554.59B	658.67B	781.75B	751.22B	830.45B
Equity Growth %	0.14%	0.12%	-0.07%	0.18%	-0.02%	-0.01%	0.19%	0.19%	-0.04%	0.11%
Book Value per Share	35.60	40.24	38.25	47.39	47.82	48.98	60.08	71.21	70.79	79.22
Total Shareholders' Equity	465.17B	520.3B	482.94B	568.12B	557.46B	553.1B	658.16B	781.16B	749.88B	828.31B
Common Stock	4.94B	4.86B	9.05B	12.07B	11.43B	10.96B	10.96B	10.98B	10.45B	20.94B
Retained Earnings	425.12B	490.93B	453.26B	534.7B	476.1B	466.69B	551.25B	660.96B	630.94B	716.48B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	19.58B	5.33B	9.85B	12.6B	43.8B	41.15B	47.06B	46.8B	42.13B	27.78B
Minority Interest	2.21B	2.39B	2.41B	2.64B	1.88B	1.5B	515M	589M	1.34B	2.14B

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	78.87B	92.77B	84.23B	116.32B	100.64B	147.55B	110.8B	130.6B	176.22B	169.43B
Operating CF Margin %	0.15%	0.17%	0.15%	0.2%	0.16%	0.24%	0.14%	0.14%	0.2%	0.19%
Operating CF Growth %	0.01%	0.18%	-0.09%	0.38%	-0.13%	0.47%	-0.25%	0.18%	0.35%	-0.04%
Net Income	89.57B	85.14B	80.08B	90.17B	97.71B	108.66B	122.33B	113.67B	110.45B	132.18B
Depreciation & Amortization	14.96B	23.11B	21.12B	19.47B	20.86B	27.66B	30.91B	33.4B	34.07B	29.58B
Stock-Based Compensation	1.53B	1.74B	1.35B	1.94B	1.26B	2.31B	4.11B	3.97B	5.59B	5.55B
Deferred Taxes	25.37B	25.21B	22.39B	25.24B	24.8B	30.34B	28.95B	33.99B	36.09B	42.78B
Other Non-Cash Items	-46.57B	-46.97B	-39.78B	-47.68B	-20.14B	-44.34B	-39.01B	-39.87B	-28.04B	-50.94B
Working Capital Changes	-5.99B	4.54B	-936M	27.16B	-23.86B	22.92B	-36.49B	-14.56B	18.05B	10.27B
Change in Receivables	-5.32B	3.35B	-9.73B	1.39B	-3.33B	12.85B	-11.83B	-985M	14.38B	563M
Change in Inventory	-541M	1.48B	545M	-566M	2.08B	803M	-256M	162M	287M	213M
Change in Payables	4.68B	-5.2B	4.5B	20.84B	-12.4B	5.7B	9.7B	-9.82B	-435M	548M
Cash from Investing+	-138.16B	-116.28B	35.58B	50.13B	34.01B	7.74B	-224.5B	-84.06B	11.68B	-80.73B
Capital Expenditures	-13.95B	-20.85B	-21.87B	-22.78B	-23.5B	-19.58B	-20.15B	-14.83B	-10.51B	-14.74B
CapEx % of Revenue	0.03%	0.04%	0.04%	0.04%	0.04%	0.03%	0.03%	0.02%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	19.48B	17.49B	16.13B	22.46B	25.47B	20.38B	-14.4B	42.07B	23.95B	30.33B
Cash from Financing+	-1.59B	-22.75B	-129.98B	-49.37B	-151B	-128.84B	46.59B	-60.88B	-182.57B	-63.96B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-35.49B	-8.73B	-5.42B	-4.5B	-6.86B	-5.46B	-5.47B	-32.81B	-5.22B	-62.75B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.35B	-2.14B	-3.26B	-5.99B	-7.18B	-4.29B	-6.53B	-10.49B	-12.07B	-8.69B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	64.92B	71.92B	62.36B	93.53B	77.15B	127.97B	90.64B	115.77B	165.71B	154.39B
FCF Margin %	0.13%	0.13%	0.11%	0.16%	0.13%	0.21%	0.11%	0.13%	0.18%	0.17%
FCF Growth %	-0.01%	0.11%	-0.13%	0.5%	-0.18%	0.66%	-0.29%	0.28%	0.43%	-0.07%
FCF per Share	4.94	5.54	4.91	7.77	6.60	11.30	8.27	10.55	15.62	14.73
FCF Conversion (FCF/Net Income)	0.89x	1.09x	1.05x	1.29x	1.04x	1.37x	0.91x	1.15x	1.60x	1.29x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	20.31%	17.15%	15.89%	17.05%	17.21%	19.38%	20.14%	15.76%	14.41%	16.61%
Return on Invested Capital (ROIC)	17.65%	12.73%	10.62%	13.74%	15.49%	18.43%	17.25%	13.13%	12.13%	13.2%
Gross Margin	30.39%	28.86%	29.24%	29.5%	28.54%	31.68%	29.72%	28.67%	29.65%	30.65%
Net Margin	17.38%	15.42%	14.7%	15.37%	15.93%	17.43%	15.45%	12.54%	12.31%	14.74%
Debt / Equity	0.27x	0.27x	0.28x	0.17x	0.17x	0.19x	0.27x	0.22x	0.22x	0.23x
Interest Coverage	80.32x	35.09x	24.43x	17.79x	20.59x	28.63x	26.34x	13.85x	10.84x	16.36x
FCF Conversion	0.89x	1.09x	1.05x	1.29x	1.04x	1.37x	0.91x	1.15x	1.60x	1.29x
Revenue Growth	9.14%	7.41%	-1%	7.52%	4.16%	1.51%	27.69%	14.41%	-0.8%	-0.75%

Frequently Asked Questions

Valuation & Price

Wipro Limited (WIT) has a price-to-earnings (P/E) ratio of 0.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Wipro Limited (WIT) reported $896.55B in revenue for fiscal year 2025. This represents a 181% increase from $318.75B in 2012.

Wipro Limited (WIT) saw revenue decline by 0.7% over the past year.

Yes, Wipro Limited (WIT) is profitable, generating $135.06B in net income for fiscal year 2025 (14.7% net margin).

Dividend & Returns

Yes, Wipro Limited (WIT) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

Wipro Limited (WIT) has a return on equity (ROE) of 16.6%. This is reasonable for most industries.

Wipro Limited (WIT) generated $145.94B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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