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Genpact Ltd – Data Processing, Hosting, and Related Services
Genpact is a global professional services firm that makes business transformation real. Led by the purpose -- the relentless pursuit of a world that works better for people -- the company drives digital-led innovation and digitally enabled intelligent operations for his clients. Guided by the experience reinventing and running thousands of processes for hundreds of clients, many of them Global Fortune 500 companies, the company drives real-world transformation at scale. Genpact thinks with design, dream in digital, and solve problems with data and analytics. Combining his expertise in end-to-end operations and his AI-based platform, Genpact Cora, focus on the details - all 90,000+ of his. From New York to New Delhi, and more than 30 countries in between, the company connects every dot, reimagine every process, and reinvent the ways companies work. The company knows that reimagining each step from start to finish creates better business outcomes. Whatever it is, Genpact will be there with you - accelerating digital transformation to create bold, lasting results - because transformation happens here.
Analysis Results
Intrinsic Value $46.38
Latest Price $47.80
Relative Value 3% overvalued
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Cash Flow (Millions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 6.6%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 6.6%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (million) Present value (million)
2022 427 397
2023 455 394
2024 485 391
2025 517 387
2026 551 384
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 10200 million. This corresponds to a present value of 6630 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1950 million. Adding in the terminal value gives a total present value of 8590 million.

There are presently 185.0 million outstanding shares, so the intrinsic value per share is 46.38.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,921,641,000
Current Cash 899,458,000
Current Liabilities 1,308,801,000
Current Debt 401,982,000
Non-Cash Working Capital (NCWC) 115,364,000
Change in NCWC -52,031,000
EBIT 507,796,000
Tax Provision 113,681,000
Depreciation and Amortization 167,572,000
Capital Expenditure -57,248,000
Unlevered Free Cash Flow 446,603,816
Current Assets 1,748,868,000
Current Cash 680,440,000
Current Liabilities 1,202,636,000
Current Debt 301,603,000
Non-Cash Working Capital (NCWC) 167,395,000
Change in NCWC -120,223,000
EBIT 458,048,000
Tax Provision 92,201,000
Depreciation and Amortization 159,842,000
Capital Expenditure -80,371,000
Unlevered Free Cash Flow 311,840,546
Current Assets 1,551,676,000
Current Cash 467,096,000
Current Liabilities 910,211,000
Current Debt 113,249,000
Non-Cash Working Capital (NCWC) 287,618,000
Change in NCWC -53,022,000
EBIT 432,871,000
Tax Provision 94,536,000
Depreciation and Amortization 128,713,000
Capital Expenditure -74,927,000
Unlevered Free Cash Flow 331,180,941
Current Assets 1,355,057,000
Current Cash 368,396,000
Current Liabilities 976,312,000
Current Debt 330,291,000
Non-Cash Working Capital (NCWC) 340,640,000
Change in NCWC 39,225,000
EBIT 346,750,000
Tax Provision 80,763,000
Depreciation and Amortization 103,718,000
Capital Expenditure -84,978,000
Unlevered Free Cash Flow 327,358,796
Current Assets 1,433,895,000
Current Cash 504,468,000
Current Liabilities 838,784,000
Current Debt 210,772,000
Non-Cash Working Capital (NCWC) 301,415,000
Change in NCWC 27,826,000
EBIT 329,700,000
Tax Provision 59,742,000
Depreciation and Amortization 94,915,000
Capital Expenditure -57,231,000
Unlevered Free Cash Flow 333,769,008
Current Assets 1,227,037,000
Current Cash 422,623,000
Current Liabilities 731,355,000
Current Debt 200,530,000
Non-Cash Working Capital (NCWC) 273,589,000
Change in NCWC 61,945,000
EBIT 329,405,000
Tax Provision 62,098,000
Depreciation and Amortization 81,736,000
Capital Expenditure -88,772,000
Unlevered Free Cash Flow 322,261,210
Current Assets 1,195,069,000
Current Cash 450,907,000
Current Liabilities 594,480,000
Current Debt 61,962,000
Non-Cash Working Capital (NCWC) 211,644,000
Change in NCWC -33,693,000
EBIT 322,585,000
Tax Provision 61,937,000
Depreciation and Amortization 82,799,000
Capital Expenditure -62,173,000
Unlevered Free Cash Flow 243,305,299
Current Assets 1,188,508,000
Current Cash 461,788,000
Current Liabilities 622,114,000
Current Debt 140,731,000
Non-Cash Working Capital (NCWC) 245,337,000
Change in NCWC -3,506,000
EBIT 289,236,000
Tax Provision 57,419,000
Depreciation and Amortization 79,607,000
Capital Expenditure -62,577,000
Unlevered Free Cash Flow 236,220,307
Current Assets 1,276,144,000
Current Cash 571,276,000
Current Liabilities 461,693,000
Current Debt 5,668,000
Non-Cash Working Capital (NCWC) 248,843,000
Change in NCWC 10,839,000
EBIT 307,399,000
Tax Provision 71,100,000
Depreciation and Amortization 76,460,000
Capital Expenditure -48,879,000
Unlevered Free Cash Flow 274,429,166
Current Assets 1,128,767,000
Current Cash 459,228,000
Current Liabilities 517,818,000
Current Debt 86,283,000
Non-Cash Working Capital (NCWC) 238,004,000
Change in NCWC 39,954,000
EBIT 267,563,000
Tax Provision 78,419,000
Depreciation and Amortization 79,394,000
Capital Expenditure -83,337,000
Unlevered Free Cash Flow 223,797,175

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