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Genpact

G NYSE Data Processing & Outsourced Services Financials FY2016–FY2025

Genpact's revenue rose 6.6% to $5.1 billion in fiscal 2025. Its operating margin was 14.8%, about the same as 14.7% a year earlier. Free cash flow was $735 million, up 37.9%. It paid out $118 million in dividends and buybacks, 16% of free cash flow. The diluted share count fell 2.1%.

Last close · Oct 23, 2026

$40.83

2.3%
Value it Compare
Revenue Total sales reported in the income statement.
$5.1B
6.6% vs prior year
Operating margin Operating income as a share of revenue.
14.8%
0.0 pts
Net income Profit after all expenses, interest and tax.
$553M
7.6%
Free cash flow Cash from operations minus capital spending.
$735M
37.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
19.4%
1.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$7.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.1x
On $3.37 EPS (TTM)

What Genpact does

Genpact runs business operations for large companies and builds AI and data tools for them. It began about 25 years ago as General Electric's in-house back-office unit. Clients pay it to handle work such as accounts payable and collections, supply chain and procurement, insurance and banking back-office tasks, healthcare claims, and customer support. It also advises on process design and builds software that uses AI agents (programs that can carry out tasks on their own). It has over 146,500 employees working in more than 35 countries.

In 2025 its net revenues were $5.1 billion. It splits that revenue two ways. Advanced Technology Solutions (data and AI, digital technology, advisory and agentic services) was a smaller share, and Core Business Services (decision support, technology services and digital operations) was the larger. Its three reportable segments are Financial Services, Consumer and Healthcare, and High Tech and Manufacturing.

Revenue is concentrated in North America and Europe: 71% of 2025 revenue came from clients based in North America. A large part of its people and operations is in India. Contracts for operating a client's processes are often framework agreements with separate statements of work, and it also signs fixed-price and long-term contracts.

Legal name
Genpact Limited
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 26, 2026
Accession · CIK
0001398659-26-000004
0001398659

Revenue and margins

Genpact had $5.1B of revenue in fiscal 2025, up 6.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 10.4% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $735M in fiscal 2025, 14.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Genpact returned $118M to shareholders in fiscal 2025, 16% of free cash flow. The diluted share count fell 2.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Genpact yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$358M and divides by 176.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 12.1x · peers 19.4x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Genpact can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $900M$647M$584M$672M$1.2B
Debt incl. finance leases $1.7B$1.5B$1.3B$1.2B$1.6B
Net debt / EBITDA 1.2x1.3x1.0x0.7x0.4x
Debt / equity 0.9x0.8x0.6x0.5x0.6x
Interest coverage 8.7x8.6x9.5x8.8x10.2x
Current ratio 1.5x1.6x1.4x2.2x1.7x
Quick ratio 1.5x1.6x1.4x2.2x1.7x
Total assets $5.0B$4.6B$4.8B$5.0B$5.8B
Total liabilities $3.1B$2.8B$2.6B$2.6B$3.3B
Shareholders' equity $1.9B$1.8B$2.2B$2.4B$2.5B
Net debt (− = net cash) $791M$807M$701M$567M$358M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$6.8M

6 insiders

Of sales under plans

21%

$1.5M

DateInsiderTradeSharesPriceValueFiling
Sep 14, 2026 Balkrishan KalraPresident and CEO, Director Sold 10,000 $36.79 $0.4M Form 4
Aug 19, 2026 Anil NanduruSenior Vice President Sold 6,191 $37.03 $0.2M Form 4
Aug 14, 2026 Sameer DewanSenior Vice President Sold 14,972 $34.10 $0.5M Form 4
Aug 13, 2026 Michael Hal WeinerChief Financial Officer Sold 5,900 $34.04 $0.2M Form 4
Aug 12, 2026 Anil NanduruSenior Vice President Sold 11,852 $33.92 $0.4M Form 4
Aug 11, 2026 Anil NanduruSenior Vice President Sold 17,243 $33.96 $0.6M Form 4
Mar 4, 2026 Balkrishan KalraPresident and CEO, Director Sold 2,800 $40.77 $0.1M Form 4
Jan 13, 2026 Riju VashishtSenior Vice President Sold plan 16,016 $46.65 $0.7M Form 4
Jan 13, 2026 Sameer DewanSenior Vice President Sold plan 15,088 $46.65 $0.7M Form 4
Nov 14, 2025 Michael Hal WeinerChief Financial Officer Sold 13,365 $44.84 $0.6M Form 4
Nov 13, 2025 Heather WhiteSVP & Chief Legal Officer Sold 45,703 $45.74 $2.1M Form 4
Nov 12, 2025 Heather WhiteSVP & Chief Legal Officer Sold 4,351 $45.74 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✓
F-score 6 / 98 / 97 / 9
Accruals ratio 3.0%−2.1%−4.8%
Altman Z'' 3.324.193.63

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Genpact G $7.0B 6.6% 14.8% 14.5% 19.4% 12.1x 7
Maximus MMS $3.3B 2.4% 9.7% 6.7% 13.6% 9.3x 7 Compare →
Broadridge Financial Solutions BR $21.5B 8.5% 17.4% 17.1% 18.3% 19.1x 9 Compare →
EXL EXLS $6.6B 13.6% 15.0% 14.3% 28.4% 27.1x 8 Compare →
Carlisle Companies CSL $14.0B 0.3% 20.0% 19.3% 21.9% 19.8x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.6B $2.7B $3.0B $3.5B $3.7B $4.0B $4.4B $4.5B $4.8B $5.1B
Gross profit $1.0B $1.1B $1.1B $1.2B $1.3B $1.4B $1.5B $1.6B $1.7B $1.8B
Operating income $341M $331M $348M $429M $439M $509M $502M $631M $702M $750M
Interest expense $23.4M $39.9M $48.5M $50.8M $56.2M $58.3M $58.1M $66.3M $79.5M $73.5M
Pretax income $330M $321M $362M $399M $401M $483M $465M $602M $677M $730M
Income tax $62.1M $59.7M $80.8M $94.5M $92.2M $114M $112M −$29.0M $163M $178M
Net income $270M $263M $282M $305M $308M $369M $353M $631M $514M $553M
Diluted EPS $1.28 $1.34 $1.45 $1.56 $1.57 $1.91 $1.88 $3.41 $2.85 $3.13
Diluted shares 0.21B 0.20B 0.19B 0.20B 0.20B 0.19B 0.19B 0.19B 0.18B 0.18B
Cash flow
Cash from operations $346M $359M $340M $428M $584M $694M $444M $491M $615M $813M
Capital expenditure $81.9M $57.2M $85.0M $74.9M $70.2M $53.3M $50.6M $55.4M $82.8M $78.2M
Free cash flow $264M $302M $255M $353M $514M $641M $393M $435M $533M $735M
Depreciation and amortization $81.7M $94.9M $104M $129M $160M $168M $130M $104M $96.3M $95.0M
Stock-based compensation $25.1M $35.7M $49.0M $83.9M $74.0M $82.0M $77.4M $88.6M $66.4M $89.6M
Acquisitions $45.2M $285M $112M $252M $187M $72.0M $0.0M $0.7M $0.0M $80.4M
Share buybacks $345M $220M $154M $30.0M $137M $298M $214M $226M $253M $0.0M
Dividends paid $0.0M $46.7M $57.1M $64.7M $74.2M $80.5M $91.8M $100M $109M $118M
Dividends and buybacks $345M $266M $211M $94.7M $211M $379M $306M $326M $361M $118M
Balance sheet
Cash and short-term investments $423M $505M $368M $467M $680M $900M $647M $584M $672M $1.2B
Total debt $897M $1.2B $1.3B $1.4B $1.6B $1.7B $1.4B $1.3B $1.2B $1.5B
Finance lease liabilities $0.0M $0.0M $0.0M $30.5M $49.0M $34.8M $27.4M $17.7M $17.4M $19.3M
Current assets $1.2B $1.4B $1.4B $1.6B $1.7B $1.9B $1.8B $1.9B $2.1B $2.7B
Current liabilities $731M $839M $976M $910M $1.2B $1.3B $1.1B $1.3B $964M $1.6B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $193M $207M $213M $254M $231M $215M $181M $190M $208M $190M
Total assets $2.9B $3.4B $3.5B $4.5B $4.9B $5.0B $4.6B $4.8B $5.0B $5.8B
Total liabilities $1.6B $2.0B $2.1B $2.8B $3.0B $3.1B $2.8B $2.6B $2.6B $3.3B
Shareholders' equity $1.3B $1.4B $1.4B $1.7B $1.8B $1.9B $1.8B $2.2B $2.4B $2.5B
Margins
Gross margin 39.5% 38.6% 36.0% 34.8% 34.8% 35.6% 35.2% 35.1% 35.5% 36.0%
Operating margin 13.3% 12.1% 11.6% 12.2% 11.8% 12.7% 11.5% 14.1% 14.7% 14.8%
EBITDA margin 16.5% 15.6% 15.1% 15.9% 16.1% 16.8% 14.5% 16.4% 16.8% 16.6%
Net margin 10.5% 9.6% 9.4% 8.7% 8.3% 9.2% 8.1% 14.1% 10.8% 10.9%
FCF margin 10.3% 11.0% 8.5% 10.0% 13.9% 15.9% 9.0% 9.7% 11.2% 14.5%
Returns
Return on capital 16.2% 13.8% 12.1% 13.0% 12.3% 14.2% 14.3% 22.6% 18.0% 19.4%
Return on capital employed 15.7% 13.9% 13.5% 14.1% 12.2% 13.9% 14.0% 18.1% 18.7% 18.2%
Return on equity 20.8% 19.4% 19.9% 19.7% 17.5% 19.8% 19.0% 31.0% 22.2% 22.4%
Return on assets 9.5% 8.3% 8.1% 7.6% 6.6% 7.5% 7.4% 13.4% 10.5% 10.2%
Growth
Revenue growth — 6.5% 9.6% 17.3% 5.4% 8.4% 8.7% 2.4% 6.5% 6.6%
Net income growth 12.5% −2.4% 7.2% 8.1% 1.1% 19.8% −4.3% 78.6% −18.6% 7.6%
EPS growth 17.4% 4.7% 8.2% 7.6% 0.6% 21.7% −1.6% 81.4% −16.4% 9.8%
FCF growth −0.5% 14.4% −15.7% 38.7% 45.7% 24.7% −38.7% 10.8% 22.3% 37.9%
Share count change −4.1% −6.2% −1.6% 0.6% 0.3% −1.4% −2.5% −1.6% −2.5% −2.1%
Financial health
Net debt / EBITDA 1.1x 1.7x 2.1x 1.8x 1.6x 1.2x 1.3x 1.0x 0.7x 0.4x
Debt / equity 0.7x 0.9x 0.9x 0.9x 0.9x 0.9x 0.8x 0.6x 0.5x 0.6x
Interest coverage 14.6x 8.3x 7.2x 8.5x 7.8x 8.7x 8.6x 9.5x 8.8x 10.2x
Current ratio 1.7x 1.7x 1.4x 1.7x 1.5x 1.5x 1.6x 1.4x 2.2x 1.7x
Quick ratio 1.7x 1.7x 1.4x 1.7x 1.5x 1.5x 1.6x 1.4x 2.2x 1.7x
Capital allocation
Capex / revenue 3.2% 2.1% 2.8% 2.1% 1.9% 1.3% 1.2% 1.2% 1.7% 1.5%
Stock comp / revenue 1.0% 1.3% 1.6% 2.4% 2.0% 2.0% 1.8% 2.0% 1.4% 1.8%
Payouts / FCF 130.8% 88.3% 83.0% 26.8% 41.1% 59.1% 77.8% 74.8% 67.8% 16.0%
Quality scores
Piotroski F-score — 6.0 5.0 7.0 4.0 8.0 7.0 6.0 8.0 7.0
Altman Z'' 3.2 2.9 2.5 2.7 2.5 2.6 3.0 3.3 4.2 3.6
Accruals ratio −2.7% −3.0% −1.7% −3.1% −5.9% −6.6% −1.9% 3.0% −2.1% −4.8%

Source: SEC EDGAR XBRL filings (CIK 0001398659). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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