Valuation Tata Consultancy Services Ltd.

Equities

TCS

INE467B01029

IT Services & Consulting

Market Closed - NSE India S.E. Other stock markets 05:19:42 20/06/2025 pm IST			5-day change	1st Jan Change
3,435.70 ^INR	+0.34%		-0.29%	-16.10%

20/06	TCS Sets Up Two New Automotive Delivery Centres In Germany	RE
20/06	Cognizant to invest $183 million for new India campus, add 8,000 jobs	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	1,24,30,663	-	-
Change	-	16.42%	-14.28%	19.56%	-6.97%	-4.73%	-	-
Enterprise Value (EV) ¹	1,14,21,230	1,32,49,619	1,13,00,103	1,36,57,333	1,26,79,766	1,19,53,508	1,18,25,578	1,16,00,287
Change	-	16.01%	-14.71%	20.86%	-7.16%	-5.73%	-1.07%	-1.91%
P/E ratio	36.6x	36.1x	27.8x	30.8x	26.9x	24x	21.9x	20.4x
PBR	13.8x	15.4x	13x	15.5x	13.8x	12.3x	11.5x	10.9x
PEG	-	1.9x	2.5x	3.32x	4.07x	3.59x	2.25x	2.85x
Capitalization / Revenue	7.16x	7.14x	5.2x	5.82x	5.11x	4.68x	4.33x	4.07x
EV / Revenue	6.96x	6.91x	5.01x	5.67x	4.97x	4.5x	4.12x	3.8x
EV / EBITDA	24.5x	25x	19.1x	21.2x	16.8x	16.7x	15.1x	13.8x
EV / EBIT	26.9x	27.3x	20.8x	23x	18.1x	18.1x	16.4x	14.9x
EV / FCF	31.7x	35.4x	28.7x	32.4x	27.6x	23.2x	21.6x	19.4x
FCF Yield	3.16%	2.83%	3.49%	3.09%	3.63%	4.31%	4.63%	5.16%
Dividend per Share ²	38	43	115	73	126	120.5	130.8	139.9
Rate of return	1.2%	1.15%	3.59%	1.88%	3.49%	3.51%	3.81%	4.07%
EPS ²	86.71	103.6	115.2	125.9	134.2	143.2	157.1	168.3
Distribution rate	43.8%	41.5%	99.8%	58%	93.9%	84.2%	83.3%	83.1%
Net sales ¹	16,41,770	19,17,540	22,54,580	24,08,930	25,53,240	26,55,457	28,67,912	30,50,612
EBITDA ¹	4,65,460	5,30,570	5,92,590	6,42,960	7,53,310	7,17,502	7,84,032	8,40,721
EBIT ¹	4,24,810	4,84,530	5,42,370	5,93,110	7,00,890	6,60,064	7,22,808	7,76,435
Net income ¹	3,24,300	3,83,270	4,21,470	4,59,080	4,85,530	5,18,412	5,68,154	6,07,916
Net Debt ¹	-3,33,800	-4,35,050	-4,30,450	-3,67,460	-3,67,600	-4,77,156	-6,05,085	-8,30,376
Reference price ²	3,177.85	3,739.95	3,205.90	3,876.30	3,606.15	3,435.70	3,435.70	3,435.70
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.	23.92x	4.49x	16.6x	3.52%	14TCr
IBM	31.17x	4.48x	17.05x	2.38%	26TCr
ACCENTURE PLC	24.01x	2.74x	14.44x	1.87%	18TCr
AUTOMATIC DATA PROCESSING, INC.	30.75x	6.15x	21.18x	1.92%	12TCr
CROWDSTRIKE HOLDINGS, INC.	-815.07x	24.31x	95.19x	-.--%	12TCr
RELX PLC	34.01x	7.92x	19.89x	1.72%	9.62TCr
INFOSYS LIMITED	23.98x	3.7x	15.26x	3.21%	7.77TCr
SNOWFLAKE INC.	-50.37x	14.92x	120.42x	-.--%	7.07TCr
HCL TECHNOLOGIES LIMITED	25.43x	3.52x	16.04x	3.55%	5.44TCr
FUJITSU LIMITED	29.86x	1.68x	13.49x	0.8%	4.16TCr
Average	-64.23x	7.39x	34.96x	1.9%	11.61TCr
Weighted average by Cap.	-62.91x	7.14x	31.26x	2.01%