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Tata Consultancy Services Limited TCS.NS

IN · National Stock Exchange of India · XNSE · stock · Technology · website

Tata Consultancy Services Limited statistics & valuation

Market cap₹8.49T
P / E17.2×
P / S3.2×
P / B7.9×
P / FCF17.7×
Net margin18.4%
FCF margin18.0%
Net debt₹48.8B
Enterprise value USD$89.6B
Earnings yield EBIT/EV7.9%
Return on capital55.2%
Graham number -59.7%₹952.39

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹952.39); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
18.70% 19.10% 19.00% 18.40% 2023202420252026
Gross margin (%)
46.90% 44.80% 42.90% 45.10% 2023202420252026
Operating margin (%)
24.10% 24.70% 24.40% 25.10% 2023202420252026
Return on equity (%)
46.60% 50.70% 51.20% 45.90% 2023202420252026
Shares outstanding
3.62B 3.62B 3.62B 3.62B 2023202420252026
Net debt (₹)
₹5.73B -₹9.86B ₹10.61B ₹48.78B 2023202420252026
Share buybacks (₹)
₹0 ₹170.00B ₹0 2023202420252026
Return on assets (%)
29.30% 31.30% 30.40% 27.00% 2023202420252026
Free cash flow margin (%)
17.20% 17.30% 17.60% 18.00% 2023202420252026
Debt / equity (×)
0.09× 0.09× 0.10× 0.11× 2023202420252026
EPS (₹)
₹115.19 ₹125.88 ₹134.19 ₹136.01 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Tata Consultancy Services Limited trades at about 17.4× earnings — below its 10-year norm (10-year range 18.2×–30.4×, median 27.9×).

17.4× 30.4×

Shaded band = 10-year range (18.2×–30.4×); dot = today's 17.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin45.1%42.9%44.8%46.9%
Operating margin25.1%24.4%24.7%24.1%
Net margin18.4%19.0%19.1%18.7%
FCF margin18.0%17.6%17.3%17.2%
Return on assets27.0%30.4%31.3%29.3%
Return on equity45.9%51.2%50.7%46.6%
Current ratio2.232.322.452.53

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.