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what it is
Wipro builds software, runs tech systems, and handles back-office work for large companies, mostly using delivery teams in India.
how it gets paid
Last year Wit made $10.4B in revenue. U.S. was the main engine at $5.93B, or 57% of sales.
why growth slowed
Revenue fell 3.2% last year. Operating margins declined slightly from lower utilization, pricing pressure, and costs tied to integration and delivery mix.
what just happened
Wipro reported $0.03 EPS, missing the $0.04 estimate (about -25% vs consensus).
At a glance
A balance sheet — strong enough to weather a downturn
95/100 earnings predictability — you can trust these numbers
19.6x trailing p/e — priced about right
6.2% dividend yield — cash in your pocket every quarter
14.5% return on capital — nothing to write home about
xvary composite: 65/100 — average
What they do
Wipro builds software, runs tech systems, and handles back-office work for large companies, mostly using delivery teams in India.
Wipro wins because big companies hate switching vendors mid-project. Once your apps, infrastructure, and support teams are tied together, leaving gets expensive and messy. Its scale helps too: more than 230,000 employees support delivery, and India-based centers keep costs lower while the business still posts a 20.0% operating margin (operating margin → profit after running the business → so what: there is still room to pay dividends and stay profitable).
How they make money
$10.4B
annual revenue · their business grew -3.2% last year
U.S.
$5.93B
U.K.
$1.25B
India
$0.31B
Rest of World
$2.91B
The products that matter
enterprise technology outsourcing
IT Services and Consulting
$10.4B · 100% of revenue
It is the whole story: a $10.4B services business with a 20.0% operating margin, but revenue still fell 3.2% from last year. That makes execution and demand the entire investment case.
20.0% operating margin
Key numbers
6.2%
dividend yield
You are being paid 6.2% a year while the stock's 18-month target implies only 9% price upside.
20.0%
operating margin
Operating margin → profit from running the business → so what: Wipro is still solidly profitable despite slower demand.
14.5%
return on capital
Return on capital → profit earned on money invested in the business → so what: this is decent, but not elite, for a mature IT services firm.
73%
insider control
Azim Premji and related entities own 73% of the stock, which keeps control tight and limits outside influence.
Financial health
A
strength
- balance sheet grade A — very strong financial position
- risk rank 2 — safer than 80% of stocks
- price stability 75 / 100
- long-term debt $21M (0% of capital)
- net profit margin 14.6% — keeps 15 cents of every dollar in revenue
- return on equity 14% — $0.14 profit for every $1 investors have put in
A — among the top-rated companies for balance sheet quality.
Total return vs. market
You invested $10,000 in WIT 3 years ago → it's now worth $11,940.
The index would have given you $14,770.
source: institutional data · total return
What just happened
missed estimates
Wipro reported $0.03 EPS, missing the $0.04 estimate (about -25% vs consensus).
Margins were pressured by lower utilization, pricing pressure, and integration costs. Results got some help from better execution in a few large accounts, but a higher share count still pushed EPS down by a penny.
$10.4B
ttm revenue
$0.03
eps
30.7%
gross margin
the number that mattered
The about -25% EPS surprise vs estimates matters because this is a low-growth stock with only $3 as the 18-month target, so execution misses have less room to hide.
-
operating margins declined slightly from lower utilization, pricing pressure, and costs tied to integration and delivery mix.
-
results were helped somewhat by improved execution in a few large accounts and early contribution from the harman dts acquisition (closed december 2025), while discretionary technology projects remained limited.
-
the average diluted share count increased, driving earnings per share down by a penny, to $0.03.
-
financials should hold relatively flat over the near term.
-
for the fiscal fourth quarter, management expects limited sequential growth, citing fewer working days and slower ramp-up on recently signed contracts.for fiscal 2026, top-line trends should improve modestly if large deals continue to move into delivery and client decision-making normalizes. still, pricing remains competitive, and customers are likely to prioritize efficiency-oriented work over expansion projects, keeping growth incremental rather than strong.
source: company earnings report, 2026
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What could go wrong
the top risk here is enterprise tech spending staying soft. When all $10.4B of your revenue comes from services, delayed client projects show up quickly.
med
enterprise spending slowdown
Wipro sells labor, expertise, and delivery capacity to corporate clients. When those budgets tighten, there is no separate product engine to offset it.
This pressure touches essentially 100% of the current $10.4B revenue base.
med
pricing pressure in a commoditized service market
There is no obvious moat here. If clients push for lower rates or project mix deteriorates, the 20.0% operating margin can drift lower.
Even modest margin compression matters when net profit margin is 14.6% and growth is already negative.
med
the stock stays a yield story
A 6.2% dividend yield helps, but it can also trap the narrative. If growth does not reappear, investors may keep valuing WIT as a steady payer rather than a compounding growth asset.
The public target range in this feed runs only about $3–$4 over 3–5 years, which tells you upside expectations are not exactly euphoric.
The balance sheet looks safe. The real risk is slower demand meeting a business that already posted a 3.2% revenue decline.
source: institutional data · regulatory filings · risk analysis
Pay attention to
trend
whether AI talk finally shows up in revenue
The strategic story has shifted toward AI-first execution. The proof you need is simple: growth has to turn positive after a 3.2% decline.
metric
operating margin holding near 20.0%
This is one of the few hard edges in the snapshot. If demand stays soft but margin stays intact, the business can still defend its quality case.
risk
enterprise clients delaying discretionary projects
Because all $10.4B of revenue sits inside services, weak project starts are not a side issue. They are the issue.
calendar
whether the path to $12B revenue still looks realistic
The medium-term estimate is $12B by fy2028. Each update should answer one question: is Wipro actually moving toward that number or just talking about it.
Analyst rankings
earnings predictability
95 / 100
In human-speak, analysts view Wipro's earnings profile as unusually steady for a stock with this much growth debate around it.
risk rank
2
That puts it in the safer part of the market. You are not taking balance-sheet risk to own this name.
price stability
75 / 100
The stock tends to move with less drama than higher-beta tech names. Think steady, not explosive.
source: institutional data
Institutional activity
institutions have been net buying for 2 consecutive quarters — 152 buyers vs. 132 sellers in 3q2025. total institutional holdings: 0.4B shares. net buying for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$2
$4
$3
current price
$3
target midpoint · +9% from current · 3-5yr high: $4 (+45% · 10% ann'l return)
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