FREE RESEARCH PACKET · Q2 FY2027
WIT: EPS rose. Did the business?
Cash conversion, buyback arithmetic and bookings explain Wipro’s quarter.
Research published October 16, 2026 · Download original report
Read Research PacketWIT · NYSE
Wipro Limited
Information Technology Services · India
USD 2.15-0.5% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$21.27B
- Trailing P/E
- 15.36x
- Forward P/E
- 14.32x
- Quarterly revenue growth
- 9.1%
- Trailing net margin
- 13.6%
- Indicated dividend yield
- 4.2%
Snapshot 2026-11-03 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-15 (provider estimate; issuer confirmation unavailable here).
Company background
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers AI-powered IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises. It serves customers in various industry sectors, such as communications, media and information services, software and gaming, new age technology, consumer goods, healthcare, medical devices and life sciences, and technology products and services, as well as banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. The IT Products segment provides a range of third-party IT products, including enterprise platforms, networking solutions, software and data storage products, contact center infrastructure, enterprise security, IT optimization technologies, video solutions, and end-user computing solutions. It serves enterprises in various industries primarily in the Indian market, such as government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education, and financial services sectors. The company has a strategic alliance with the Indian Institute of Science and the Foundation for Science Innovation and Development to collaborate on research and innovation across frontier technologies. The company was incorporated in 1945 and is based in Bengaluru, India.
Company websiteQ2 FY2027
Go beyond the headline.
WIT Stock: EPS Rose. Did the Business? — Wipro Q2 FY2027
Published 2026-10-16
Short takes Q2 FY2027
WIT Stock: Wipro Q2 FY2027 — EPS Rose, Profit Fell #Shorts
Watch Short on YouTube
Q2 FY2027 REPORT HIGHLIGHTS
What’s changed for WIT
Cash conversion, buyback arithmetic and bookings explain Wipro’s quarter.
The share count matters.
June’s completed buyback reduces the earnings denominator; it does not establish a demand recovery.
Collection improved.
Quarterly operating cash exceeded profit, but capital returns exceeded first-half free cash flow.
Bookings require context.
Contract value includes renewals and multi-year work; it is neither revenue nor a guaranteed backlog.
The balance sheet still has resources.
Our conservative net-liquid-cash measure includes leases and excludes strategic investments.
Price already pays for stability.
Near our base value, the stock needs better operations to earn a stronger rating.
Comparable businesses
WIT peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | WITWipro LimitedSnapshot 2026-11-03Financial period: 2026-09-30 |
|---|---|
| Market capMarket value, converted to USD | US$21.27B |
| Forward P/EProvider forward earnings estimate | 14.32x |
| EV / EBITDAEnterprise value / trailing EBITDA | — |
| Revenue growthLatest quarter vs prior-year quarter | 9.1% |
| Operating marginLatest reported quarter | 16.2% |
| Free cash flow yieldTrailing cash flow / market cap | — |
| Net debt / EBITDANet debt / trailing EBITDA | -1.20x |
| Debt / equityTotal debt / positive book equity | 0.28x |
| Trailing P/ETrailing twelve-month earnings | 15.36x |
| Price / bookPrice / positive book equity per share | 2.52x |
| EV / salesEnterprise value / trailing revenue | — |
| Earnings growthLatest quarter vs prior-year quarter | 4.5% |
| Gross marginTrailing twelve months | 28.9% |
| Net marginTrailing twelve months | 13.6% |
| Return on equityProvider trailing return; positive equity only | 15.9% |
| Free cash flow marginTrailing free cash flow / revenue | 10.8% |
| Dividend yieldIndicated annual dividend / price | 4.2% |
| Earnings payoutProvider trailing dividend payout | 60.6% |
| Current ratioCurrent assets / current liabilities | 1.70x |
| BetaProvider historical market sensitivity | 0.26 |
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for WIT
Q2 FY20272026-10-16
WIT Stock: EPS Rose. Did the Business? — Wipro Q2 FY2027
Presentation · 2026-10-16 · YouTube
Short takes Q2 FY2027
WIT Stock: Wipro Q2 FY2027 — EPS Rose, Profit Fell #Shorts
Watch Short on YouTube
Q1 FY20272026-07-18
Wipro Stock (WIT): Revenue ’Grew’ 10.6% — The Real Number Was 0.9% (Q1 FY2027)
Presentation · 2026-07-18 · YouTube
