Genpact LTD financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Genpact LTD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,571	2,737	3,001	3,521	3,709	4,022	4,371	4,477	4,767	5,080
Cost of revenue	1,554	1,681	1,922	2,295	2,418	2,590	2,835	2,906	3,077	3,249
Gross profit	1,016	1,055	1,079	1,226	1,291	1,432	1,536	1,571	1,690	1,831
Selling, general and administrative	653	689	694	795	790	866	938	913	967	1,047
Operating income	341	331	348	429	439	509	502	631	702	750
Interest expense	23.4	39.9	48.5	50.8	56.2	58.3	58.1	66.3	79.5	73.5
Other non-operating income	9.69	23.6	35.8	5.79	3.24	12.9	-0.1	15	19	22.1
Pre-tax income	330	321	362	399	400	483	465	602	677	730
Income tax	62.1	59.7	80.8	94.5	92.2	114	112	-29	163	178
Net income	270	263	282	305	308	369	353	631	514	552
EBITDA	396	390	413	525	555	618	589	703	772	821
EPS, basic	1.30	1.36	1.48	1.60	1.62	1.97	1.92	3.46	2.88	3.18
EPS, diluted	1.28	1.34	1.45	1.56	1.57	1.91	1.88	3.41	2.85	3.13
Shares, basic (weighted)	207	194	191	190	190	188	184	182	178	174
Shares, diluted (weighted)	210	197	194	195	196	193	188	185	180	177
Dividend per share	0.00	0.24	0.30	0.09	0.39	0.43	0.50	0.55	0.61	0.68

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	423	504	368	467	680	899	647	584	648	854
Short-term investments								0	23.4	350
Receivables	615	693	774	914	881	888	995	1,116	1,199	1,241
Other current assets	5.52	25.6	62.3	49.2	37.3	30.7	18.7	17.5	33	43.7
Total current assets	1,227	1,434	1,355	1,552	1,749	1,922	1,779	1,892	2,080	2,656
Property, plant and equipment	193	207	213	254	231	215	181	190	208	190
Lease right-of-use assets				331	305	271	198	186	182	182
Goodwill	1,069	1,337	1,394	1,574	1,696	1,731	1,684	1,684	1,670	1,781
Intangible assets	78.9	132	177	231	237	170	89.7	53	27	67
Other non-current assets	242	262	155	217	324	322	304	300	350	510
Total assets	2,886	3,450	3,529	4,454	4,874	4,975	4,589	4,806	4,987	5,843
Accounts payable	9.77	15.1	42.6	22	13.9	25	35.8	27.7	36.5	27.5
Accrued liabilities	163	205	180	179	150	162	127	165	200	221
Deferred revenue	50.6	52.2	64.7	97.3	155	161	161	112	102	203
Short-term debt	39.2	39.2	33.5	33.5	33.5	383	26.1	432	26.2	376
Total current liabilities	731	839	976	910	1,203	1,309	1,103	1,318	964	1,602
Long-term debt	698	1,007	976	1,340	1,307	1,272	1,249	825	1,195	1,166
Lease liabilities				302	289	248	190	168	154	151
Other non-current liabilities	163	169	165	209	238	245	216	235	269	353
Total liabilities	1,595	2,021	2,125	2,765	3,039	3,078	2,763	2,557	2,598	3,294
Total debt	737	1,046	1,009	1,373	1,341	1,656	1,275	1,257	1,221	1,542
Paid-in capital	1,384	1,421	1,471	1,571	1,636	1,717	1,777	1,884	1,945	2,019
Retained earnings	358	356	438	649	742	732	780	1,085	1,237	1,390
Other comprehensive income	-458	-355	-507	-532	-545	-554	-733	-723	-794	-861
Shareholders' equity	1,287	1,424	1,404	1,689	1,834	1,897	1,826	2,248	2,390	2,549
Total equity	1,287	1,424	1,404	1,689	1,834	1,897	1,826	2,248	2,390	2,549
Total liabilities and equity	2,886	3,450	3,529	4,454	4,874	4,975	4,589	4,806	4,987	5,843
Shares outstanding	199	193	189	190	189	185	183	179	175	170

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	268	261	281	305	308	369	353	631	514	552
Depreciation and amortization	54.6	58.5	64.9	96.1	116	109	86.8	72.5	69.8	70.7
Stock-based compensation	25.1	35.7	49	83.9	74	82	77.4	88.6	66.4	89.6
Deferred income tax	30.5	-10.4	6.05	-16.3	-22.6	-9.26	-29.2	-158	36.6	19.9
Change in receivables	-48.6	-57.3	-76.9	-122	42.5	-11.8	-112	-131	-96.6	-44.2
Change in payables	-0.46	-2.16	26.4	-21.4	-12.5	11.7	14.2	-8.22	8.73	-6.42
Cash from operations	346	359	340	428	584	694	444	491	615	813
Capital expenditures	-81.9	-57.2	-85	-74.9	-70.2	-53.3	-50.6	-55.4	-82.8	-78.2
Acquisitions	-45.2	-285	-112	-252	-187	-72	-0.03	-0.68	0	-80.4
Purchases of investments							0	0	-23.4	-350
Cash from investing	-126	-362	-276	-357	-266	-123	-36.6	-78.9	-106	-495
Debt issued		350	129	400	0	350	239	0	400	350
Debt repaid	-40	-40	-166	-34	-34	-34	-620	-19.9	-433	-26.5
Stock issued	13.6	14.9	10.8	10.7	14.1	23.2	14.7	27.8	7.21	8.14
Share buybacks	-345	-220	-154	-30	-137	-298	-214	-225	-253
Dividends paid		-46.7	-57.1	-64.7	-74.2	-80.5	-91.8	-100	-108	-118
Cash from financing	-233	47.2	-135	39.6	-92	-333	-571	-483	-425	-107
Exchange rate effect	-15.5	37.6	-64.3
Net change in cash		44.3	-71.7	110	226	239	-164	-71.1	84.6	211
Free cash flow	264	302	255	353	514	641	393	435	533	735
Interest paid	19.5	27.9	41.5	45.1	49.1	46.3	51.1	48	68.9	59.7
Income taxes paid	46.7	66.2	81.4	104	194	31.8	146	157	114	144

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $33.10 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.5%	Gross profit / revenue.
Operating margin	14.8%	Operating income / revenue.
EBITDA margin	16.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.5%	Pre-tax income / revenue.
Net margin	11.1%	Net income / revenue.
FCF margin	10.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.3%	Cash from operations / revenue.
Effective tax rate	23.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	22.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.8%	Net income / average total assets.
Return on invested capital (ROIC)	18.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	21.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.4%	Capital expenditures / revenue.
D&A / revenue	1.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	6.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	14.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	6.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	11.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	8.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	16.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	32.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	22.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	37.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	23.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	11.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	11.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	6.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	17.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.00x	Current assets / current liabilities.
Quick ratio	1.77x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.48x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.45x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	21.8%	Total debt / total assets.
Liabilities / assets	51.9%	Total liabilities / total assets.
Net debt	$662.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.78x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	9.80x	Operating income / interest expense.
Working capital	$1.08B	Current assets - current liabilities.
Goodwill and intangibles / assets	34.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$762.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.97x	Revenue / average total assets.
Fixed asset turnover	28.5x	Revenue / average property, plant and equipment.
Receivables turnover	3.74x	Revenue / average receivables.
Days sales outstanding	98 days	365 x average receivables / revenue.
Days payables	2 days	365 x average accounts payable / cost of revenue.
FCF conversion	98.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.42	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$30.81	Revenue / diluted weighted shares.
FCF per share	$3.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.78	Cash from operations / diluted weighted shares.
Book value per share	$15.50	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.54	Tangible book value / shares outstanding.
Cash per share	$3.08	(Cash + short-term investments) / shares outstanding.
Payout ratio	20.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	21.3%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.56B	Share price x shares outstanding.
Enterprise value	$6.22B	Market cap + total debt - cash - short-term investments.
P/E	9.55x	Market cap / net income. Only when net income is positive.
P/S	1.06x	Market cap / revenue.
P/B	2.14x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	7.29x	Market cap / tangible book value, when positive.
P/FCF	9.72x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.64x	Market cap / cash from operations, when positive.
EV/Sales	1.19x	Enterprise value / revenue.
EV/EBIT	7.99x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.32x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.3%	Free cash flow / market cap.
Earnings yield	10.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.2%	Dividends paid over the period / market cap.
Shareholder yield	2.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.52x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Genpact LTD's revenue in fiscal 2025?

Genpact LTD reported revenue of $5.08B for fiscal 2025, 6.6% higher than the year before.

Was Genpact LTD profitable in fiscal 2025?

Yes. Net income was $552.5M, a net margin of 10.9%.

How much free cash flow did Genpact LTD generate in fiscal 2025?

Cash from operations of $812.9M minus capital expenditures of $78.2M left free cash flow of $734.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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