Company Valuation: Wipro Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 22,60,981 32,36,060 20,00,894 25,05,134 27,41,626 27,55,968 - -
Change - 43.13% -38.17% 25.2% 9.44% 0.52% - -
Enterprise Value (EV) 1 19,98,813 30,42,265 17,49,875 22,38,476 23,69,995 23,64,383 23,21,543 22,83,035
Change - 52.2% -42.48% 27.92% 5.88% -0.24% -1.81% -1.66%
P/E ratio 21.7x 26.6x 17.7x 23.1x 20.9x 20.6x 19.5x 18.2x
PBR 4.1x 4.93x 2.56x 3.38x 3.33x 3.17x 2.99x 2.91x
PEG - 1.6x -2.45x 34.12x 1x 11.62x 3.37x 2.59x
Capitalization / Revenue 3.65x 4.09x 2.21x 2.79x 3.08x 3x 2.82x 2.67x
EV / Revenue 3.23x 3.85x 1.93x 2.49x 2.66x 2.57x 2.38x 2.21x
EV / EBITDA 13.5x 18.5x 10.4x 13.2x 13.1x 13.1x 12x 11.1x
EV / EBIT 16.6x 22.4x 12.9x 16.5x 15.7x 15.6x 14.2x 13.1x
EV / FCF 15.6x 33.6x 15.1x 13.5x 15.3x 18x 17.2x 15.7x
FCF Yield 6.4% 2.98% 6.62% 7.4% 6.53% 5.55% 5.8% 6.37%
Dividend per Share 2 0.5 3 0.5 0.5 6 9.726 9.951 10.93
Rate of return 0.24% 1.01% 0.27% 0.21% 2.29% 3.7% 3.78% 4.15%
EPS 2 9.535 11.14 10.34 10.41 12.52 12.74 13.48 14.43
Distribution rate 5.24% 26.9% 4.84% 4.8% 47.9% 76.3% 73.8% 75.8%
Net sales 1 6,19,430 7,90,934 9,04,876 8,97,603 8,90,884 9,19,285 9,75,590 10,33,452
EBITDA 1 1,47,795 1,64,523 1,68,479 1,69,830 1,80,818 1,80,629 1,94,046 2,06,157
EBIT 1 1,20,139 1,35,931 1,35,134 1,35,759 1,51,239 1,51,663 1,63,126 1,74,197
Net income 1 1,07,946 1,22,191 1,13,500 1,10,452 1,31,354 1,33,253 1,40,846 1,51,770
Net Debt 1 -2,62,168 -1,93,795 -2,51,019 -2,66,658 -3,71,631 -3,91,585 -4,34,425 -4,72,933
Reference price 2 207.10 296.00 182.65 240.02 262.10 263.10 263.10 263.10
Nbr of stocks (in thousands) 1,09,17,337 1,09,32,636 1,09,54,798 1,04,36,972 1,04,60,231 1,04,74,983 - -
Announcement Date 15/04/21 29/04/22 27/04/23 19/04/24 16/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.55x2.55x12.98x3.71% 3.04TCr
33.59x4.88x17.39x2.2% 28TCr
20.84x2.26x12.07x2.32% 17TCr
22.47x4.24x15.69x3.58% 13TCr
24.35x4.92x16.83x2.4% 11TCr
28.14x6.7x16.8x2.09% 7.74TCr
-55.2x15.56x114.31x-.--% 7.5TCr
22.99x3.48x14.61x3.14% 7.24TCr
25.78x3.28x15.78x3.56% 4.98TCr
17.87x2.12x14.32x0.69% 4.83TCr
Average 16.14x 5.00x 25.08x 2.37% 10.47TCr
Weighted average by Cap. 20.20x 4.90x 22.61x 2.35%
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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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