Valuation Tata Consultancy Services Ltd.

Equities

TCS

INE467B01029

IT Services & Consulting

Market Closed - NSE India S.E. Other stock markets 04:35:04 16/02/2026 pm IST			5-day change	1st Jan Change
2,706.60 ^INR	+0.53%		-8.19%	-15.58%

16/02	Canada's Carney to visit India in early March, Ontario minister says	RE
16/02	Amd and Tcs to bring state-of-the-art 'Helios' rack-scale AI architecture to India	RE

Company Valuation: Tata Consultancy Services Ltd.

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	1,17,55,030	1,36,84,669	1,17,30,553	1,40,24,793	1,30,47,366	97,92,716	-	-
Change	-	16.42%	-14.28%	19.56%	-6.97%	-24.94%	-	-
Enterprise Value (EV) ¹	1,14,21,230	1,32,49,619	1,13,00,103	1,36,57,333	1,26,79,766	93,90,843	93,80,522	93,08,489
Change	-	16.01%	-14.71%	20.86%	-7.16%	-25.94%	-0.11%	-0.77%
P/E ratio	36.6x	36.1x	27.8x	30.8x	26.9x	19.3x	17.6x	16.4x
PBR	13.8x	15.4x	13x	15.5x	13.8x	9.36x	8.76x	8.15x
PEG	-	1.9x	2.5x	3.32x	4.07x	4.54x	1.81x	2.23x
Capitalization / Revenue	7.16x	7.14x	5.2x	5.82x	5.11x	3.7x	3.46x	3.24x
EV / Revenue	6.96x	6.91x	5.01x	5.67x	4.97x	3.55x	3.31x	3.08x
EV / EBITDA	24.5x	25x	19.1x	21.2x	18.8x	13.1x	12.2x	11.3x
EV / EBIT	26.9x	27.3x	20.8x	23x	20.4x	14.2x	13.2x	12.2x
EV / FCF	31.7x	35.4x	28.7x	32.4x	27.6x	19.4x	17.6x	16.2x
FCF Yield	3.16%	2.83%	3.49%	3.09%	3.63%	5.16%	5.68%	6.15%
Dividend per Share ²	38	43	115	73	126	121.2	127.8	137.2
Rate of return	1.2%	1.15%	3.59%	1.88%	3.49%	4.48%	4.72%	5.07%
EPS ²	86.71	103.6	115.2	125.9	134.2	139.9	153.5	164.8
Distribution rate	43.8%	41.5%	99.8%	58%	93.9%	86.6%	83.2%	83.2%
Net sales ¹	16,41,770	19,17,540	22,54,580	24,08,930	25,53,240	26,45,088	28,32,035	30,25,418
EBITDA ¹	4,65,460	5,30,570	5,92,590	6,42,960	6,74,070	7,19,099	7,70,113	8,26,050
EBIT ¹	4,24,810	4,84,530	5,42,370	5,93,110	6,21,650	6,62,242	7,11,292	7,64,414
Net income ¹	3,24,300	3,83,270	4,21,470	4,59,080	4,85,530	5,08,154	5,56,065	5,96,727
Net Debt ¹	-3,33,800	-4,35,050	-4,30,450	-3,67,460	-3,67,600	-4,01,873	-4,12,194	-4,84,226
Reference price ²	3,177.85	3,739.95	3,205.90	3,876.30	3,606.15	2,706.60	2,706.60	2,706.60
Nbr of stocks (in thousands)	36,99,051	36,59,051	36,59,051	36,18,088	36,18,088	36,18,088	-	-
Announcement Date	12/04/21	11/04/22	12/04/23	12/04/24	10/04/25	-	-	-

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.($)
TATA CONSULTANCY SERVICES LTD.	19.24x	3.53x	12.99x	4.5%	11TCr
IBM	29.23x	4.3x	15.35x	2.56%	25TCr
ACCENTURE PLC	16.66x	1.79x	9.54x	2.9%	14TCr
AUTOMATIC DATA PROCESSING, INC.	19.32x	3.32x	11.36x	3.05%	8.54TCr
SNOWFLAKE INC.	-46.58x	12.85x	94.25x	-.--%	6.24TCr
INFOSYS LIMITED	19.64x	2.94x	12.46x	3.62%	6.12TCr
RELX PLC	19.9x	4.94x	12.35x	2.95%	5.56TCr
FUJITSU LIMITED	15.43x	1.74x	11.75x	0.78%	4.37TCr
HCL TECHNOLOGIES LIMITED	22.87x	2.84x	13.57x	3.87%	4.35TCr
NEC CORPORATION	21.97x	1.49x	10.51x	0.8%	3.58TCr
Average	13.77x	3.97x	20.41x	2.5%	8.78TCr
Weighted average by Cap.	17.13x	3.95x	18.51x	2.72%