One-glance verdict
Undervalued
$115.38 our estimate vs market $32.06
Wall Street consensus: $42.45 (-63.2% lower than our fair-value estimate)
72% below our estimate, below the bear case
Fundamentals snapshot
Genpact Limited
G · NYQ · Technology · Information Technology Services
Current price
$32.06
52-week range
$28.78 - $48.64
Market cap
$5.43B
Balance sheet
Watch
10.34x Adequate
Net debt $827.75M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 1.6% last year.
- Reward Returns 23.1% on equity, ahead of 60% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Insider ownership is only 0.7% (peer median: 3.0%).
What this company does
Genpact Limited
Genpact helps large companies in finance, healthcare, and manufacturing by taking over essential but complex background tasks like customer service, accounting, and managing their supply chain (the entire journey of a product from creation to the customer). It makes money by charging these clients a fee for its services, which allows them to operate more efficiently and focus on their own main business. Genpact's success depends on its ability to form long-term partnerships with these large corporations and use technology to handle their operations better and at a lower cost.
How the company got here
Genpact started in 1997 as a small team inside General Electric (GE) with a simple goal: to make GE's back-office work more efficient. This idea of handling business tasks for other companies was new and helped create the business process outsourcing (BPO) industry. In 2005, Genpact became its own company, no longer part of GE, and began offering its services to other clients. Two years later, it became a public company listed on the New York Stock Exchange, and has since grown by acquiring other companies to add new skills in areas like artificial intelligence and customer experience design.
What it actually does
Genpact is a professional services company that helps other businesses run more smoothly and efficiently. Think of them as a highly specialized helper that other companies hire to manage complex but essential tasks they don't want to do themselves. This includes things like managing a company's finances and accounting, handling customer service calls, or optimizing their supply chain (the entire process of making and delivering a product). Genpact uses a combination of smart people, efficient processes, and modern technology like artificial intelligence (AI) to transform how these businesses operate.
Financial Services
This is one of the company's major business areas, serving banks, insurance companies, and other financial firms. For these clients, Genpact handles core tasks like processing loans, managing insurance claims, and ensuring the company follows financial regulations. For example, they might manage the entire process for a bank's mortgage applications or help an insurance company handle claims after a natural disaster. This segment provides a significant portion of the company's business.
Consumer and Healthcare
This part of the business works with companies that sell directly to people, like retail stores and consumer goods companies, as well as healthcare providers. Genpact helps these clients with tasks like managing their supply chain (making sure products get from the factory to the store shelf efficiently) and handling customer service. In healthcare, they might help a hospital with its billing and revenue cycle management (the process of getting paid by insurance companies). This is another large and important segment for the company.
High Tech and Manufacturing
This segment serves technology companies and manufacturers of physical goods. For these clients, Genpact provides services like customer and technical support, managing the supply chain for parts and materials, and supporting sales operations. For instance, they might run the customer care center for a software company or manage the logistics (the detailed coordination of a complex operation) for a car parts manufacturer. This is the largest of the three segments by revenue.
What management is betting on now
Genpact's leadership is heavily focused on artificial intelligence (AI) and other advanced technologies to drive future growth. They are moving beyond just handling tasks for clients to providing "agentic AI solutions," which are systems that can autonomously manage complex business processes. The company is investing in its data, technology, and AI capabilities, aiming to become a go-to partner for businesses looking to use AI to become more efficient and responsive. This strategy, called "GenpactNext," is about integrating this new technology into their core services to deliver better results for their clients.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$190.00M
FY2024 Q3
$208.69M
FY2024 Q4
$183.53M
FY2025 Q1
$18.46M
FY2025 Q2
$155.14M
FY2025 Q3
$292.02M
FY2025 Q4
$269.04M
FY2026 Q1
$-47.47M
Revenue
$1.30B
Net income
$147.99M
Diluted EPS
0.86
Operating cash flow
$-23.54M
Free cash flow
$-47.47M
Fetching…
Sources
Revenue
$1.32B
Net income
$143.09M
Diluted EPS
0.82
Operating cash flow
$286.69M
Free cash flow
$269.04M
Fetching…
Sources
Revenue
$1.29B
Net income
$145.83M
Diluted EPS
0.83
Operating cash flow
$308.36M
Free cash flow
$292.02M
Fetching…
Sources
Revenue
$1.25B
Net income
$132.72M
Diluted EPS
0.75
Operating cash flow
$177.37M
Free cash flow
$155.14M
Fetching…
Sources
Revenue
$1.21B
Net income
$130.85M
Diluted EPS
0.73
Operating cash flow
$40.44M
Free cash flow
$18.46M
Fetching…
Sources
Revenue
$1.25B
Net income
$141.91M
Diluted EPS
0.80
Operating cash flow
$203.25M
Free cash flow
$183.53M
Fetching…
Sources
Revenue
$1.21B
Net income
$132.82M
Diluted EPS
0.74
Operating cash flow
$228.46M
Free cash flow
$208.69M
Fetching…
Sources
Revenue
$1.18B
Net income
$121.99M
Diluted EPS
0.67
Operating cash flow
$209.27M
Free cash flow
$190.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $115.38 vs current price $32.06
Wall Street consensus is the average analyst price target: $42.45 (-63.2% lower than our fair-value estimate).
Our most-likely fair value is $115.38 a share — about 259.9% above today's price of $32.06, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $827.8M. Interest coverage 10.3x.
Net debt
$827.75M
Interest coverage
10.34x
Genpact Limited's profit covers its interest bill about 10.3 times over.
Watch
Worse cushion
Baseline
Better cushion
G
BASELINE
Genpact Limited
Total debt $1.76B Interest coverage 10.34x This is the baseline the peer rows are being compared against.
Total debt $1.09B Interest coverage 89.92x +769% vs G Carries about 8.7x more debt cushion than G.
Total debt $520.69M Interest coverage 17.82x +72% vs G Carries about 1.7x more debt cushion than G.
Total debt $462.67M Interest coverage 6.18x -40% vs G Carries about 1.7x less debt cushion than G.
Total debt $287.94M Interest coverage 301.10x +2,812% vs G Carries about 29.1x more debt cushion than G.
What you should know
The case for and against G
3 Rewards
1 Risk
Rewards
-
Revenue grew 1.6% last year.
-
Returns 23.1% on equity, ahead of 60% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Insider ownership is only 0.7% (peer median: 3.0%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
9.83x
Forward P/E
7.16x
P/B
2.20x
P/S
1.05x
EV/EBITDA
7.24x
PEG ratio
1.16x
Profitability
How much profit each dollar creates
Gross margin
36.3%
Operating margin
15.4%
Net margin
11.0%
ROE
23.1%
ROA
9.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.71x
Current ratio
1.69x
Quick ratio
1.54x
Total debt
$1.76B
Total cash
$930.16M
Growth
How the business has been compounding
Revenue TTM
$5.16B
Revenue 5Y CAGR
6.0%
EPS TTM
3.26
EPS 5Y CAGR
18.5%
Cash flow
How much cash the business throws off
Operating CF TTM
$748.88M
Free CF TTM
$734.65M
FCF margin
14.2%
Dividend
Shareholder payout
Yield
2.3%
Payout ratio
21.4%
Last ex-div date
2026-06-10