Company Valuation: LTIMindtree Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 7,08,491 10,78,858 14,08,013 14,62,286 13,30,722 12,89,484 - -
Change - 52.28% 30.51% 3.85% -9% -3.1% - -
Enterprise Value (EV) 1 7,01,756 10,48,074 13,52,618 14,14,938 13,10,122 12,49,503 12,08,231 11,76,029
Change - 49.35% 29.06% 4.61% -7.41% -4.63% -3.3% -2.67%
P/E ratio 36.8x 47.1x 32x 32x 29x 24.9x 20.4x 18x
PBR 9.71x 12.2x 8.49x 7.3x 5.86x 5.11x 4.45x 3.88x
PEG - 2.5x 2.3x 8.43x 86.15x 2x 0.9x 1.4x
Capitalization / Revenue 5.73x 6.89x 4.24x 4.12x 3.5x 3.06x 2.75x 2.48x
EV / Revenue 5.67x 6.69x 4.08x 3.98x 3.45x 2.97x 2.58x 2.27x
EV / EBITDA 25.8x 34.3x 22.1x 22.2x 20.2x 16.5x 14x 12.2x
EV / EBIT 29.3x 38.8x 25.1x 25.4x 23.8x 19.2x 16.1x 13.9x
EV / FCF 33x 132x 62.8x 29.3x 36.3x 28.2x 22.5x 19.4x
FCF Yield 3.03% 0.76% 1.59% 3.41% 2.76% 3.54% 4.44% 5.15%
Dividend per Share 2 40 45 60 45 45 74.32 91.54 101.2
Rate of return 0.99% 0.73% 1.26% 0.91% 1% 1.71% 2.1% 2.33%
EPS 2 110.3 130.8 148.8 154.5 155 174.5 213 241.3
Distribution rate 36.3% 34.4% 40.3% 29.1% 29% 42.6% 43% 41.9%
Net sales 1 1,23,698 1,56,687 3,31,830 3,55,170 3,80,081 4,20,989 4,69,167 5,19,153
EBITDA 1 27,251 30,584 61,077 63,874 64,949 75,773 86,271 96,618
EBIT 1 23,926 27,035 53,850 55,685 55,034 65,152 75,009 84,628
Net income 1 19,361 22,985 44,083 45,846 45,987 50,913 63,002 71,432
Net Debt 1 -6,735 -30,784 -55,395 -47,348 -20,600 -39,981 -81,253 -1,13,454
Reference price 2 4,054.30 6,155.40 4,759.65 4,938.40 4,491.35 4,349.30 4,349.30 4,349.30
Nbr of stocks (in thousands) 1,74,751 1,75,270 2,95,823 2,96,105 2,96,286 2,96,481 - -
Announcement Date 04/05/21 19/04/22 27/04/23 24/04/24 23/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.92x2.97x16.49x1.71% 1.4TCr
23.23x3.88x13.85x2.7% 23TCr
15.58x1.67x8.86x3.1% 13TCr
18.45x3.39x12.46x4.66% 10TCr
19.78x3.41x11.68x2.98% 8.74TCr
20.13x5.31x13.06x2.84% 6.13TCr
-43x11.82x86.63x-.--% 5.76TCr
18.75x2.78x11.84x3.8% 5.74TCr
21.5x2.68x12.79x4.14% 4TCr
13.79x1.56x10.82x1.06% 3.81TCr
Average 13.31x 3.95x 19.85x 2.7% 8.21TCr
Weighted average by Cap. 15.39x 3.83x 17.42x 2.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation LTIMindtree Limited