Wipro Limited (WIT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+75.3%

$3.79

vs $2.17 price

Levered DCF

$3.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.21

Safe zone

Rating

A+

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	15.72×	20.84×	22.57×	17.84×	26.26×	24.35×	14.13×	18.8×
P/B	2.34×	3.3×	3.33×	2.59×	4.88×	4.76×	2.47×	2.98×
P/S	2.24×	3.07×	2.78×	2.24×	4.06×	4.25×	2.25×	2.89×
EV / EBITDA	10.05×	13.13×	13.52×	11.16×	17.51×	15.01×	8.94×	11.77×
Gross margin	29.2%	30.7%	29.6%	28.7%	29.7%	31.7%	28.5%	29.5%
Operating margin	16.2%	16.9%	14.9%	14.9%	17.2%	19.9%	17.3%	17.1%
Net margin	14.2%	14.7%	12.3%	12.5%	15.4%	17.4%	15.9%	15.4%
Current ratio	2.05×	2.72×	2.58×	2.47×	2.01×	2.28×	2.4×	2.67×
Debt / equity	0.23×	0.23×	0.22×	0.22×	0.27×	0.19×	0.17×	0.18×
Interest coverage	11.01×	16.3×	10.65×	13.41×	25.53×	28.63×	20.59×	17.79×
Dividend yield	5.6%	2.3%	0.2%	1.6%	0.2%	0.2%	0.5%	0.3%
Payout ratio	87.7%	47.8%	4.7%	28.9%	4.5%	5.1%	7.1%	5.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.9%	15.9%	14.7%	14.5%	18.6%	19.5%	17.4%	15.8%
Return on invested capital	9.6%	10.3%	10.2%	10.3%	12.6%	14.0%	12.4%	11.3%
Return on assets	9.3%	10.2%	9.6%	9.7%	11.3%	12.9%	11.9%	10.8%
Free cash flow yield	6.4%	5.6%	6.6%	5.7%	2.8%	4.9%	5.6%	5.5%
Earnings yield	6.4%	4.8%	4.4%	5.6%	3.8%	4.1%	7.1%	5.3%
Enterprise value	$2.2T	$2.8T	$2.6T	$2.1T	$3.3T	$2.6T	$1.3T	$1.6T
Net debt / EBITDA	0.45×	0.33×	0.36×	0.44×	0.38×	-0.38×	-0.32×	-0.43×
Cash conversion cycle (days)	88	77	74	81	81	62	77	76