NYSE : INFY
Infosys Limited — Financial statements
Technology · Information Technology Services · India
Last price 12.55 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 50.55B
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Financial statements
Infosys Limited (INFY) reported revenue of 20.37B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 20.37B | 20.16B | 19.28B | 18.56B | 18.21B | 16.31B |
| Cost of Revenue | 14.31B | 14.21B | 13.53B | 13.10B | 12.82B | 11.00B |
| Gross Profit | 6.06B | 5.95B | 5.75B | 5.47B | 5.39B | 5.32B |
| Selling, General & Admin | 1.91B | 1.86B | 1.66B | 1.63B | 1.56B | 1.56B |
| Operating Expenses | 1.91B | 1.86B | 1.66B | 1.63B | 1.56B | 1.56B |
| Operating Income | 4.15B | 4.09B | 4.09B | 3.83B | 3.83B | 3.75B |
| Interest Expense | -48.00M | -47.00M | -49.00M | -56.00M | -35.00M | -27.00M |
| Interest & Investment Income | 305.00M | 351.00M | 345.00M | 487.00M | 226.00M | 221.00M |
| Currency Exchange Gain (Loss) | 62.00M | 56.00M | 31.00M | 23.00M | 51.00M | 36.00M |
| Other Non Operating Income (Expenses) | 18.00M | 17.00M | 15.00M | 24.00M | 40.00M | 27.00M |
| EBT Excluding Unusual Items | 4.49B | 4.47B | 4.43B | 4.31B | 4.11B | 4.01B |
| Merger & Restructuring Charges | -8.00M | -4.00M | -1.00M | -1.00M | ||
| Gain (Loss) on Sale of Investments | 42.00M | 44.00M | 34.00M | 34.00M | 18.00M | 24.00M |
| Legal Settlements | -17.50M | |||||
| Pretax Income | 4.52B | 4.51B | 4.45B | 4.35B | 4.12B | 4.04B |
| Income Tax Expense | 1.22B | 1.19B | 1.28B | 1.18B | 1.14B | 1.07B |
| Earnings From Continuing Operations | 3.31B | 3.32B | 3.16B | 3.17B | 2.98B | 2.97B |
| Minority Interest in Earnings | -3.00M | -3.00M | -4.00M | -2.00M | -2.00M | -5.00M |
| Net Income | 3.30B | 3.31B | 3.16B | 3.17B | 2.98B | 2.96B |
| Net Income to Common | 3.30B | 3.31B | 3.16B | 3.17B | 2.98B | 2.96B |
| Shares Outstanding (Basic) | 4.06B | 4.11B | 4.14B | 4.14B | 4.18B | 4.21B |
| Shares Outstanding (Diluted) | 4.07B | 4.12B | 4.15B | 4.14B | 4.19B | 4.22B |
| EPS (Basic) | 0.81 | 0.81 | 0.76 | 0.77 | 0.71 | 0.70 |
| EPS (Diluted) | 0.80 | 0.80 | 0.76 | 0.76 | 0.71 | 0.70 |
| Free Cash Flow | 3.63B | 3.73B | 4.09B | 2.88B | 2.53B | 3.06B |
| Free Cash Flow Per Share | 0.89 | 0.91 | 0.98 | 0.69 | 0.60 | 0.72 |
| Dividend Per Share | 0.53 | 0.52 | 0.51 | 0.46 | 0.41 | 0.41 |
| Gross Margin | 29.75% | 29.52% | 29.82% | 29.45% | 29.58% | 32.58% |
| Operating Margin | 20.38% | 20.29% | 21.21% | 20.66% | 21.01% | 23.02% |
| Profit Margin | 16.22% | 16.43% | 16.38% | 17.06% | 16.37% | 18.17% |
| Free Cash Flow Margin | 17.83% | 18.52% | 21.21% | 15.53% | 13.91% | 18.73% |
| EBITDA | 4.51B | 4.43B | 4.46B | 4.21B | 4.20B | 4.12B |
| EBITDA Margin | 22.15% | 21.97% | 23.12% | 22.66% | 23.08% | 25.24% |
| D&A For EBITDA | 361.00M | 339.00M | 368.00M | 372.00M | 377.00M | 361.00M |
| EBIT | 4.15B | 4.09B | 4.09B | 3.83B | 3.83B | 3.75B |
| EBIT Margin | 20.38% | 20.29% | 21.21% | 20.66% | 21.01% | 23.02% |
| Effective Tax Rate | 26.89% | 26.41% | 28.90% | 27.08% | 27.68% | 26.46% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.54B | 2.34B | 2.86B | 1.77B | 1.48B | 2.31B |
| Short-Term Investments | 911.00M | 1.11B | 1.23B | 1.24B | 722.00M | 880.00M |
| Trading Asset Securities | 525.00M | 251.00M | 229.00M | 313.00M | 119.00M | |
| Cash & Short-Term Investments | 3.98B | 3.71B | 4.32B | 3.32B | 2.32B | 3.19B |
| Accounts Receivable | 5.61B | 5.52B | 5.28B | 5.24B | 4.96B | 4.52B |
| Other Receivables | 53.00M | 240.00M | 447.00M | 831.00M | 60.00M | 55.00M |
| Receivables | 5.69B | 5.78B | 5.76B | 6.10B | 5.05B | 4.61B |
| Inventory | 14.00M | 50.00M | 48.00M | 43.00M | 25.00M | 25.00M |
| Prepaid Expenses | 484.00M | 450.00M | 360.00M | 399.00M | 334.00M | 263.00M |
| Other Current Assets | 873.00M | 923.00M | 873.00M | 862.00M | 895.00M | 782.00M |
| Total Current Assets | 11.04B | 10.91B | 11.36B | 10.72B | 8.63B | 8.87B |
| Property, Plant & Equipment | 2.07B | 2.06B | 2.23B | 2.32B | 2.52B | 2.43B |
| Long-Term Investments | 875.00M | 942.00M | 1.29B | 1.40B | 1.53B | 1.80B |
| Goodwill | 1.55B | 1.28B | 1.18B | 875.00M | 882.00M | 817.00M |
| Other Intangible Assets | 462.00M | 298.00M | 323.00M | 167.00M | 213.00M | 225.00M |
| Long-Term Accounts Receivable | 246.00M | 284.00M | 390.00M | 347.00M | 288.00M | 140.00M |
| Long-Term Deferred Tax Assets | 241.00M | 239.00M | 130.00M | 55.00M | 152.00M | 160.00M |
| Long-Term Deferred Charges | 156.00M | 154.00M | 139.00M | 98.00M | 102.00M | 119.00M |
| Other Long-Term Assets | 425.00M | 281.00M | 365.00M | 528.00M | 998.00M | 994.00M |
| Total Assets | 17.06B | 16.45B | 17.42B | 16.52B | 15.31B | 15.55B |
| Accounts Payable | 469.00M | 500.00M | 487.00M | 474.00M | 470.00M | 545.00M |
| Accrued Expenses | 2.00B | 2.02B | 1.91B | 1.83B | 1.75B | 1.81B |
| Current Portion of Leases | 374.00M | 333.00M | 287.00M | 235.00M | 151.00M | 115.00M |
| Current Income Taxes Payable | 682.00M | 594.00M | 567.00M | 430.00M | 412.00M | 344.00M |
| Current Unearned Revenue | 1.23B | 1.25B | 994.00M | 880.00M | 872.00M | 835.00M |
| Other Current Liabilities | 827.00M | 821.00M | 769.00M | 797.00M | 1.11B | 783.00M |
| Total Current Liabilities | 5.59B | 5.52B | 5.01B | 4.65B | 4.77B | 4.43B |
| Long-Term Leases | 516.00M | 634.00M | 675.00M | 767.00M | 859.00M | 607.00M |
| Long-Term Unearned Revenue | 9.00M | |||||
| Pension & Post-Retirement Benefits | 82.00M | 62.00M | 25.00M | 30.00M | 64.00M | 61.00M |
| Long-Term Deferred Tax Liabilities | 197.00M | 177.00M | 202.00M | 216.00M | 149.00M | 153.00M |
| Other Long-Term Liabilities | 286.00M | 217.00M | 250.00M | 254.00M | 247.00M | 298.00M |
| Total Liabilities | 6.67B | 6.61B | 6.16B | 5.92B | 6.09B | 5.56B |
| Common Stock | 319.00M | 319.00M | 325.00M | 325.00M | 325.00M | 328.00M |
| Additional Paid-In Capital | 490.00M | 462.00M | 500.00M | 425.00M | 366.00M | 337.00M |
| Retained Earnings | 14.82B | 14.23B | 14.94B | 14.18B | 12.77B | 12.84B |
| Comprehensive Income & Other | -5.30B | -5.23B | -4.56B | -4.37B | -4.29B | -3.57B |
| Total Common Equity | 10.33B | 9.79B | 11.21B | 10.56B | 9.17B | 9.94B |
| Minority Interest | 56.00M | 54.00M | 50.00M | 46.00M | 52.00M | 53.00M |
| Shareholders' Equity | 10.39B | 9.84B | 11.26B | 10.61B | 9.22B | 9.99B |
| Total Liabilities & Equity | 17.06B | 16.45B | 17.42B | 16.52B | 15.31B | 15.55B |
| Total Debt | 890.00M | 967.00M | 962.00M | 1.00B | 1.01B | 722.00M |
| Net Cash (Debt) | 3.09B | 2.74B | 3.36B | 2.32B | 1.31B | 2.46B |
| Net Cash Per Share | 0.76 | 0.66 | 0.81 | 0.56 | 0.31 | 0.58 |
| Filing Date Shares Outstanding | 4.05B | 4.05B | 4.14B | 4.14B | 4.14B | 4.19B |
| Total Common Shares Outstanding | 4.05B | 4.05B | 4.14B | 4.14B | 4.14B | 4.19B |
| Working Capital | 5.45B | 5.40B | 6.35B | 6.07B | 3.86B | 4.43B |
| Book Value Per Share | 2.55 | 2.42 | 2.70 | 2.55 | 2.22 | 2.37 |
| Tangible Book Value | 8.32B | 8.21B | 9.70B | 9.52B | 8.08B | 8.90B |
| Tangible Book Value Per Share | 2.05 | 2.03 | 2.34 | 2.30 | 1.95 | 2.12 |
| Land | 150.00M | 152.00M | 173.00M | 171.00M | 174.00M | 188.00M |
| Buildings | 1.35B | 1.33B | 1.37B | 1.41B | 1.41B | 1.48B |
| Machinery | 2.04B | 1.98B | 2.11B | 2.08B | 2.08B | 2.21B |
| Construction In Progress | 60.00M | 72.00M | 119.00M | 54.00M | 55.00M | 67.00M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 3.30B | 3.31B | 3.16B | 3.17B | 2.98B | 2.96B |
| Depreciation & Amortization | 557.00M | 552.00M | 569.00M | 565.00M | 524.00M | 466.00M |
| Stock-Based Compensation | 102.00M | 108.00M | 95.00M | 79.00M | 64.00M | 56.00M |
| Provision & Write-off of Bad Debts | 6.00M | 4.00M | 6.00M | 15.00M | 35.00M | 23.00M |
| Other Operating Activities | 124.00M | 321.00M | 593.00M | -55.00M | 53.00M | -5.00M |
| Change in Accounts Receivable | -111.00M | -583.00M | -209.00M | -322.00M | -875.00M | -1.06B |
| Change in Accounts Payable | 11.00M | -3.00M | 21.00M | 11.00M | -35.00M | 200.00M |
| Change in Unearned Revenue | 286.00M | 349.00M | 135.00M | 21.00M | 103.00M | 299.00M |
| Change in Other Net Operating Assets | -329.00M | -22.00M | -17.00M | -333.00M | 3.00M | 407.00M |
| Operating Cash Flow | 3.95B | 4.04B | 4.35B | 3.15B | 2.85B | 3.35B |
| Capital Expenditures | -318.00M | -306.00M | -263.00M | -266.00M | -319.00M | -290.00M |
| Cash Acquisitions | -343.00M | -77.00M | -377.00M | -12.00M | -113.00M | |
| Investment in Securities | 277.00M | 318.00M | 218.00M | -540.00M | 122.00M | -803.00M |
| Other Investing Activities | 49.00M | 75.00M | 61.00M | 110.00M | 92.00M | 88.00M |
| Investing Cash Flow | -335.00M | 10.00M | -361.00M | -708.00M | -218.00M | -1.00B |
| Short-Term Debt Repaid | -118.00M | |||||
| Long-Term Debt Repaid | -318.00M | -278.00M | -245.00M | -151.00M | -125.00M | |
| Lease Payments | -350.00M | -318.00M | -278.00M | -245.00M | -151.00M | -125.00M |
| Total Debt Repaid | -435.00M | -318.00M | -396.00M | -245.00M | -151.00M | -125.00M |
| Net Debt Issued (Repaid) | -435.00M | -318.00M | -396.00M | -245.00M | -151.00M | -125.00M |
| Issuance of Common Stock | 1.00M | 1.00M | 4.00M | 2.00M | ||
| Repurchase of Common Stock | -2.01B | -2.01B | -1.40B | -1.50B | ||
| Common Dividends Paid | -2.14B | -2.13B | -2.01B | -1.78B | -1.70B | -1.70B |
| Other Financing Activities | -13.00M | -28.00M | -64.00M | -95.00M | -46.00M | 4.00M |
| Financing Cash Flow | -4.59B | -4.49B | -2.88B | -2.12B | -3.29B | -3.33B |
| Foreign Exchange Rate Adjustments | -64.00M | -84.00M | -27.00M | -32.00M | -171.00M | -90.00M |
| Net Cash Flow | -1.04B | -520.00M | 1.09B | 292.00M | -824.00M | -1.07B |
| Free Cash Flow | 3.63B | 3.73B | 4.09B | 2.88B | 2.53B | 3.06B |
| Free Cash Flow Margin | 17.83% | 18.52% | 21.21% | 15.53% | 13.91% | 18.73% |
| Free Cash Flow Per Share | 0.89 | 0.91 | 0.98 | 0.69 | 0.60 | 0.72 |
| Levered Free Cash Flow | 3.06B | 3.17B | 3.60B | 1.44B | 2.31B | 2.64B |
| Unlevered Free Cash Flow | 3.09B | 3.20B | 3.63B | 1.48B | 2.34B | 2.66B |
| Free Cash Flow After Leases | 3.28B | 3.42B | 3.81B | 2.64B | 2.38B | 2.93B |
| Cash Income Tax Paid | 1.17B | 973.00M | 662.00M | 1.11B | 1.09B | 1.02B |
| Change in Working Capital | -143.00M | -259.00M | -70.00M | -623.00M | -804.00M | -158.00M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 49.63B | 53.97B | 76.15B | 74.43B | 71.37B | 105.34B |
| Enterprise Value | 46.56B | 52.10B | 73.56B | 72.93B | 69.89B | 103.44B |
| Last Close Price | 12.55 | 13.26 | 17.48 | 16.72 | 15.90 | 22.29 |
| PE Ratio | 15.25 | 16.29 | 24.11 | 23.50 | 23.94 | 35.55 |
| PS Ratio | 2.44 | 2.68 | 3.95 | 4.01 | 3.92 | 6.46 |
| PB Ratio | 4.78 | 5.49 | 6.77 | 7.02 | 7.74 | 10.54 |
| P/TBV Ratio | 5.97 | 6.57 | 7.85 | 7.82 | 8.84 | 11.84 |
| P/FCF Ratio | 13.68 | 14.46 | 18.63 | 25.83 | 28.17 | 34.48 |
| P/OCF Ratio | 12.58 | 13.36 | 17.50 | 23.64 | 25.02 | 31.49 |
| EV/Sales Ratio | 2.29 | 2.58 | 3.82 | 3.93 | 3.84 | 6.34 |
| EV/EBITDA Ratio | 10.33 | 11.77 | 16.50 | 17.34 | 16.63 | 25.13 |
| EV/EBIT Ratio | 11.23 | 12.74 | 17.99 | 19.02 | 18.27 | 27.55 |
| EV/FCF Ratio | 12.83 | 13.96 | 17.99 | 25.31 | 27.58 | 33.86 |
| Debt / Equity Ratio | 0.09 | 0.10 | 0.09 | 0.09 | 0.11 | 0.07 |
| Debt / EBITDA Ratio | 0.19 | 0.21 | 0.21 | 0.23 | 0.23 | 0.17 |
| Debt / FCF Ratio | 0.24 | 0.26 | 0.23 | 0.35 | 0.40 | 0.24 |
| Net Debt / Equity Ratio | -0.30 | -0.28 | -0.30 | -0.22 | -0.14 | -0.25 |
| Net Debt / EBITDA Ratio | -0.68 | -0.62 | -0.75 | -0.55 | -0.31 | -0.60 |
| Net Debt / FCF Ratio | -0.85 | -0.73 | -0.82 | -0.81 | -0.52 | -0.81 |
| Asset Turnover | 1.16 | 1.19 | 1.14 | 1.17 | 1.18 | 1.07 |
| Inventory Turnover | 650.32 | 289.96 | 297.32 | 385.18 | 513.00 | 499.82 |
| Quick Ratio | 1.72 | 1.72 | 2.00 | 2.02 | 1.54 | 1.75 |
| Current Ratio | 1.97 | 1.98 | 2.27 | 2.31 | 1.81 | 2.00 |
| Return on Equity (ROE) | 29.95% | 31.44% | 28.93% | 31.96% | 31.04% | 28.96% |
| Return on Assets (ROA) | 14.77% | 15.09% | 15.06% | 15.06% | 15.49% | 15.45% |
| Return on Invested Capital (ROIC) | 41.08% | 40.13% | 35.93% | 34.53% | 35.83% | 36.67% |
| Return on Capital Employed (ROCE) | 36.20% | 37.40% | 33.00% | 32.30% | 36.30% | 33.80% |
| Earnings Yield | 6.56% | 6.14% | 4.15% | 4.25% | 4.18% | 2.81% |
| FCF Yield | 7.31% | 6.92% | 5.37% | 3.87% | 3.55% | 2.90% |
| Dividend Yield | 3.67% | 3.90% | 2.77% | 2.56% | 2.38% | 1.63% |
| Payout Ratio | 56.70% | 64.38% | 63.54% | 56.11% | 56.93% | 57.48% |
| Buyback Yield / Dilution | 1.96% | 0.77% | -0.18% | 1.03% | 0.73% | 0.76% |
| Total Shareholder Return | 5.66% | 4.67% | 2.60% | 3.59% | 3.11% | 2.39% |