Valuation HCL Technologies Limited

Equities

HCLTECH

INE860A01027

IT Services & Consulting

Market Closed - NSE India S.E. Other stock markets 06:05:03 2026-02-11 am EST			5-day change	1st Jan Change
1,551.60 ^INR	-1.37%		-4.33%	-4.42%

Feb. 10	Indian Markets Extend Gains for Third Session On Tuesday Amid Positive Global Cues	MT
Feb. 06	HCLTech partners with Circles for connectivity solutions	RE

Company Valuation: HCL Technologies Limited

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	2,666,583	3,151,627	2,938,146	4,179,869	4,316,104	4,256,262	-	-
Change	-	18.19%	-6.77%	42.26%	3.26%	-1.39%	-	-
Enterprise Value (EV) ¹	2,549,528	2,969,664	2,759,766	3,965,499	4,091,244	4,012,495	3,932,996	3,926,994
Change	-	16.48%	-7.07%	43.69%	3.17%	-1.92%	-1.98%	-0.15%
P/E ratio	21.1x	22.9x	19.8x	26.7x	24.8x	24.9x	21.3x	19.4x
PBR	5.21x	5.05x	4.5x	6.12x	6.22x	6.06x	5.8x	5.5x
PEG	-	2.51x	2.49x	4.77x	2.3x	-17.24x	1.2x	2.01x
Capitalization / Revenue	3.49x	3.6x	2.9x	3.8x	3.69x	3.29x	3.04x	2.81x
EV / Revenue	3.34x	3.39x	2.72x	3.61x	3.5x	3.1x	2.81x	2.6x
EV / EBITDA	12.5x	14.2x	12.2x	16.4x	16x	14.8x	13.1x	12.1x
EV / EBIT	15.6x	18x	14.9x	19.8x	19.1x	17.7x	15.5x	14.1x
EV / FCF	14.5x	19.1x	16.9x	18.5x	19.3x	24.9x	19.7x	18x
FCF Yield	6.88%	5.24%	5.92%	5.4%	5.17%	4.02%	5.07%	5.57%
Dividend per Share ²	10	14	48	52	60	57.3	64.47	69.24
Rate of return	1.02%	1.2%	4.42%	3.37%	3.77%	3.64%	4.1%	4.4%
EPS ²	46.51	50.76	54.79	57.86	64.09	63.16	73.96	81.09
Distribution rate	21.5%	27.6%	87.6%	89.9%	93.6%	90.7%	87.2%	85.4%
Net sales ¹	764,137	874,825	1,014,560	1,099,130	1,170,550	1,292,945	1,399,569	1,513,289
EBITDA ¹	203,631	209,524	226,280	242,000	255,040	270,651	300,394	325,654
EBIT ¹	163,211	165,314	184,830	200,270	214,200	226,391	254,318	277,584
Net income ¹	126,223	137,684	148,510	157,020	173,900	170,759	199,254	217,426
Net Debt ¹	-117,055	-181,963	-178,380	-214,370	-224,860	-243,767	-323,266	-329,267
Reference price ²	982.65	1,163.75	1,085.25	1,543.55	1,592.50	1,573.10	1,573.10	1,573.10
Nbr of stocks (in thousands)	2,713,665	2,708,165	2,707,345	2,707,958	2,710,269	2,705,652	-	-
Announcement Date	4/23/21	4/21/22	4/20/23	4/26/24	4/22/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
HCL TECHNOLOGIES LIMITED	24.9x	3.07x	14.75x	3.51%	47B
IBM	32.5x	4.71x	16.81x	2.3%	273B
ACCENTURE PLC	17.9x	1.92x	10.27x	2.7%	148B
TATA CONSULTANCY SERVICES LTD.	21.34x	3.93x	14.46x	4.06%	119B
AUTOMATIC DATA PROCESSING, INC.	20.54x	3.56x	12.21x	2.86%	90.81B
INFOSYS LIMITED	21.53x	3.23x	13.7x	3.31%	66.91B
SNOWFLAKE INC.	-46.36x	12.87x	94.41x	-.--%	62.48B
RELX PLC	18.92x	4.74x	11.84x	3.11%	53.09B
FUJITSU LIMITED	16.6x	1.88x	12.69x	0.73%	46.71B
NEC CORPORATION	25.51x	1.77x	12.4x	0.69%	41.87B
Average	15.34x	4.17x	21.35x	2.33%	94.9B
Weighted average by Cap.	19.48x	4.15x	19.17x	2.51%