INFY
Infosys Limited
INFY's fundamentals are mixed, but it looks cheap: trading at 15x earnings, below its usual 25x. Analysts expect earnings to hold roughly steady.
INFY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
INFY's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
INFY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 15x | $12.29 | — |
| Cheap | 19x | $15.68 | +28% |
| Fair | 25x | $20.29 | +65% |
| Expensive | 31x | $25.44 | +107% |
Historical ranges are pointers, not guarantees.
INFY's PE is in its cheap range at 15x.
INFY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect INFY's earnings, revenue and profitability to hold roughly steady.
INFY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.81 | +3.8% |
| Q2 2026 | $0.81 | +5.2% |
| Q1 2026 | $0.80 | +5.3% |
| Q4 2025 | $0.77 | -2.5% |
| Q3 2025 | $0.78 | 0% |
| Q2 2025 | $0.77 | 0% |
| Q1 2025 | $0.76 | 0% |
| Q4 2024 | $0.79 | +11% |
INFY earned $0.81 per share over the past year, up 3.8% from the year before.
INFY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.2B | +1.5% |
| Q2 2026 | $5.1B | +2.9% |
| Q1 2026 | $5B | +6.6% |
| Q4 2025 | $5.1B | +3.2% |
| Q3 2025 | $5.1B | +3.7% |
| Q2 2025 | $4.9B | +4.8% |
| Q1 2025 | $4.7B | +3.6% |
| Q4 2024 | $4.9B | +5.9% |
INFY's revenue has grown year over year every quarter since late 2020: $5.2B last quarter, up 1.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +0.3 points |
| Q2 2026 | 21% | +0.3 points |
| Q1 2026 | 21% | 0 points |
| Q4 2025 | 18% | -2.9 points |
| Q3 2025 | 21% | -0.1 points |
| Q2 2025 | 21% | -0.3 points |
| Q1 2025 | 21% | +0.9 points |
| Q4 2024 | 21% | +0.8 points |
INFY's operating margin was 21% last quarter, about level with the same quarter a year ago.
INFY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $947.4M | -14% |
| Q2 2026 | $970M | +9.7% |
| Q1 2026 | $833M | -6.6% |
| Q4 2025 | $915M | -29% |
| Q3 2025 | $1.1B | +27% |
| Q2 2025 | $884M | -19% |
| Q1 2025 | $892M | +5.2% |
| Q4 2024 | $1.3B | +95% |
INFY's free cash flow has been positive every quarter for seven years: $3.7B over the past year, down 12% from the year before.
INFY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -40.7M shares |
| 1 year | -4.8% | -204M shares |
| 3 years | -2.1% | -88.5M shares |
| 5 years | -6% | -257M shares |
| Available history | -2.9% | -119M shares |
INFY has 4.1B diluted shares, down 4.8% from a year ago, with $2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $1M |
| Q4 2025 | $2B |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
INFY spent $2B buying back its own shares over the past year, after none the year before.
INFY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
INFY has more cash than debt.
INFY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.7 | Neutral |
| Stochastic | 73.2 | Neutral |
INFY's weekly RSI is 51 (neutral) and its Stochastic is 73 (neutral).
INFY PE vs Technology Sector
| Metric | INFY | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 28x | 46% below |
| PE % | 6 | 35 | 29 pts below |
INFY is trading at 15x earnings, a 46% discount to the Technology sector's median of 28x.
INFY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.8 | 4.3% above |
| 20 week MA | $11.7 | 5.4% above |
| 50 week MA | $13.5 | 9% below |
| 100 week MA | $15.9 | 23% below |
| 200 week MA | $17.3 | 29% below |
INFY has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 29% below its 200-week average.
INFY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.3 | $16.6 | +62% |
| 2021 | $16.6 | $24.7 | +49% |
| 2022 | $24.7 | $17.9 | -28% |
| 2023 | $17.9 | $18.4 | +2.6% |
| 2024 | $18.4 | $22.5 | +22% |
| 2025 | $22.5 | $18.8 | -16% |
| 2026 YTD | $18.8 | $12.3 | -35% |
INFY is down 35% so far in 2026, after finishing higher in four of the previous six years.