Last Price$19.8(1.3%)
Market Cap$84.8B
DCF value
$14.2
Overvalued (DCF value)
(28.6%)
Discount Rate
10.5%
Long-Term Growth Rate
4.0%
Stock quality
7/10
Good
INFY DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Mar'20 Actual | Mar'21 Actual | Mar'22 Actual | Mar'23 Actual | Mar'24 Actual | Mar'25 Estimate | Mar'26 Estimate | Mar'27 Estimate | Mar'28 Estimate | Mar'29 Estimate | Mar'30 Estimate | Mar'31 Estimate | Mar'32 Estimate | Mar'33 Estimate | Mar'34 Estimate | Mar'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 12,780.0 8.3% | 13,561.0 6.1% | 16,311.0 20.3% | 18,212.0 11.7% | 18,562.0 1.9% | 19,037.0 2.6% | 20,744.0 9.0% | 22,697.0 9.4% | 25,289.4 11.4% | 27,909.8 10.4% | 30,505.8 9.3% | 33,019.8 8.2% | 35,390.9 7.2% | 37,557.0 6.1% | 39,457.5 5.1% | 41,035.8 4.0% |
% margin | 2,724.0 21.3% | 3,325.0 24.5% | 3,755.0 23.0% | 3,825.0 21.0% | 3,834.0 20.7% | 4,315.0 22.7% | 4,701.9 22.7% | 5,144.5 22.7% | 5,732.1 22.7% | 6,326.1 22.7% | 6,914.5 22.7% | 7,484.3 22.7% | 8,021.8 22.7% | 8,512.8 22.7% | 8,943.5 22.7% | 9,301.3 22.7% |
NOPAT % effective tax rate | 2,057.7 16.1% | 2,425.3 17.9% | 2,761.4 16.9% | 2,766.1 15.2% | 2,795.7 15.1% | 3,146.4 16.5% | 3,428.5 16.5% | 3,751.3 16.5% | 4,179.7 16.5% | 4,612.8 16.5% | 5,041.9 16.5% | 5,457.4 16.5% | 5,849.3 16.5% | 6,207.3 16.5% | 6,521.4 16.5% | 6,782.3 16.5% |
% of revenue | 408.0 3.2% | 440.1 3.2% | 466.5 2.9% | 525.7 2.9% | 372.0 2.0% | 491.8 2.6% | 535.9 2.6% | 586.4 2.6% | 653.4 2.6% | 721.1 2.6% | 788.2 2.6% | 853.1 2.6% | 914.4 2.6% | 970.3 2.6% | 1,019.4 2.6% | 1,060.2 2.6% |
% of revenue | (465.0) (3.6%) | (285.0) (2.1%) | (290.0) (1.8%) | (319.0) (1.8%) | (266.0) (1.4%) | (314.9) (1.7%) | (343.1) (1.7%) | (375.5) (1.7%) | (418.3) (1.7%) | (461.7) (1.7%) | (504.6) (1.7%) | (546.2) (1.7%) | (585.4) (1.7%) | (621.3) (1.7%) | (652.7) (1.7%) | (678.8) (1.7%) |
% of revenue | (272.0) (2.1%) | 86.0 0.6% | (158.0) (1.0%) | (804.0) (4.4%) | (623.0) (3.4%) | (554.6) (2.9%) | (604.3) (2.9%) | (661.2) (2.9%) | (736.7) (2.9%) | (813.1) (2.9%) | (888.7) (2.9%) | (961.9) (2.9%) | (1,031.0) (2.9%) | (1,094.1) (2.9%) | (1,149.5) (2.9%) | (1,195.5) (2.9%) |
Free Cash Flow to Firm (FCFF) % of revenue | 1,728.7 13.5% | 2,666.4 19.7% | 2,779.9 17.0% | 2,168.8 11.9% | 2,278.7 12.3% | 2,768.7 14.5% | 3,017.0 14.5% | 3,301.0 14.5% | 3,678.1 14.5% | 4,059.2 14.5% | 4,436.7 14.5% | 4,802.4 14.5% | 5,147.2 14.5% | 5,462.2 14.5% | 5,738.7 14.5% | 5,968.2 14.5% |
% of FCFF used in calculation | 7.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | 9.50 | ||||||
Discount factor | 0.95 | 0.86 | 0.78 | 0.70 | 0.64 | 0.58 | 0.52 | 0.47 | 0.43 | 0.39 | ||||||
Discounted FCFF (DFCFF) | 202.0 | 2,597.1 | 2,571.4 | 2,592.7 | 2,589.3 | 2,561.0 | 2,508.5 | 2,433.0 | 2,336.4 | 2,221.2 |
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INFY DCF Value
DCF Value Calculation
as of Mar 03, 2025
Sum of DFCFF
% share of EV
22.6B
38.9%
Terminal Value (TV)
91.7B
Discounted TV
% share of EV
35.5B
61.1%
3,433.0M
Total Debt
1,002.8M
60.5B
Shares outstanding
4,275.3M
FX rate
1.0
14.2
28.6% overvalued
Equity Value Bridge
INFY DCF Financials
Revenue
$18.6B -> $39.5B
7.8% CAGR
Operating Income
$3,834.0M -> $8,943.5M
8.8% CAGR
FCFF
$2,278.7M -> $5,738.7M
9.7% CAGR
INFY DCF sensitivity
DCF value
Long-term Terminal growth rate
3.0%
3.5%
4.0%
4.5%
5.0%
WACC
10.0%
$14.0
$15.0
$15.0
$16.0
$17.0
10.5%
$13.0
$14.0
$14.0
$15.0
$16.0
10.5%
$13.0
$14.0
$14.0
$15.0
$16.0
11.5%
$11.0
$12.0
$12.0
$13.0
$13.0
12.0%
$11.0
$11.0
$11.0
$12.0
$12.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
3.0%
3.5%
4.0%
4.5%
5.0%
WACC
10.0%
(29.0%)
(24.0%)
(24.0%)
(19.0%)
(14.0%)
10.5%
(34.0%)
(29.0%)
(29.0%)
(24.0%)
(19.0%)
10.5%
(34.0%)
(29.0%)
(29.0%)
(24.0%)
(19.0%)
11.5%
(45.0%)
(39.0%)
(39.0%)
(34.0%)
(34.0%)
12.0%
(45.0%)
(45.0%)
(45.0%)
(39.0%)
(39.0%)
Explore more intrinsic value tools hub for INFY
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FAQ
What is Infosys Limited DCF (discounted cash flow) valuation?
As of Mar 03, 2025, Infosys Limited's Discounted Cash Flow (DCF) valuation estimates its share price at $14.2. This suggests it may be overvalued by (28.6%) compared to its current price of around $19.8, using a WACC of 10.5% and growth rates of 4.0%.
What is Infosys Limited WACC?
As of Mar 03, 2025, Infosys Limited's Weighted Average Cost of Capital (WACC) is approximately 10.5%.
What is Infosys Limited Enterprise Value?
As of Mar 03, 2025, Infosys Limited's Enterprise Value (EV) is approximately $58.1B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.