Wipro Limited
- Open
- 2.22
- Day high
- 2.25
- Day low
- 1.93
- Prev close
- 2.25
- Volume
- 10.6M
- Mkt cap
- $23.6B
- P/E (TTM)
- 16.9
- EPS (TTM)
- $0.11
- P/B
- 2.5
- P/S
- 2.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$16.2M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions mixed (13F)
Wipro Limited (WIT) is a Technology company listed on NYSE. The stock is down 28% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4).
Wipro Limited (WIT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WIT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 16, 2026 | $0.04 | $0.04 | +0.0% | $2.6B | -0.3% |
| Jan 16, 2026 | $0.04 | $0.03 | -25.0% | $2.6B | -0.9% |
| Jul 17, 2025 | $0.04 | $0.04 | +0.0% | $2.6B | +1.5% |
| Apr 16, 2025 | $0.04 | $0.04 | +0.0% | $2.6B | +2.3% |
| Jan 17, 2025 | $0.04 | $0.04 | +0.0% | $2.6B | -0.2% |
| Oct 17, 2024 | $0.04 | $0.04 | +5.4% | $2.7B | -5.9% |
| Jul 19, 2024 | $0.04 | $0.04 | +4.5% | $2.6B | -6.5% |
| Apr 19, 2024 | $0.04 | $0.04 | -2.1% | $2.7B | +0.2% |
| Jan 12, 2024 | $0.03 | $0.03 | -8.4% | $2.7B | +0.2% |
| Oct 18, 2023 | $0.03 | $0.03 | -11.2% | $2.7B | -1.7% |
| Jul 13, 2023 | $0.03 | $0.03 | -10.9% | $2.8B | -0.2% |
| Apr 27, 2023 | $0.04 | $0.04 | +0.0% | $2.8B | -1.0% |
WIT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 20, 2026 | Pallia Srinivasdirector, officer: Chief Executive Officer | Sell | 217,557 | $1.98 |
| May 20, 2026 | Pallia Srinivasdirector, officer: Chief Executive Officer | Sell | 203,150 | $1.82 |
| May 20, 2026 | Iyer Aparna Chandrasekharofficer: Chief Financial Officer | Sell | 45,000 | $2.00 |
| May 20, 2026 | Pallia Srinivasdirector, officer: Chief Executive Officer | Grant | 413,108 | $0.03 |
| May 20, 2026 | Pallia Srinivasdirector, officer: Chief Executive Officer | Grant | 351,034 | $0.03 |
| May 12, 2026 | Iyer Aparna Chandrasekharofficer: Chief Financial Officer | Sell | 75,000 | $2.12 |
| May 8, 2026 | Iyer Aparna Chandrasekharofficer: Chief Financial Officer | Sell | 75,000 | $201.58 |
Source: WIT SEC Form 4 filings, latest May 20, 2026. For informational purposes only — not investment advice.
See the full WIT insider & 13F page →Wipro Limited company profile
Overview
Wipro Limited (NYSE:WIT) is a multinational information technology services corporation headquartered in Bengaluru, India. Founded in 1945 as Western India Palm Refined Oils Limited by Mohamed Premji, the company originally manufactured cooking oils and later diversified into soaps and other consumer products. Under the leadership of Azim Premji from 1966, Wipro transformed into a technology powerhouse, entering the IT services sector in the 1980s. Today, Wipro stands as one of India's largest IT services companies and a global leader in digital transformation, consulting, and business process services, serving clients across multiple continents with a workforce of approximately 250,000 employees.
Business
Wipro operates as a comprehensive information technology services provider, offering digital transformation solutions to enterprises worldwide. The company's core business revolves around helping organizations modernize their technology infrastructure, develop custom software applications, and optimize business processes through technology-enabled services. The company operates through three primary business segments. IT Services represents the largest segment, generating approximately 85-90% of total revenue, and encompasses digital strategy consulting, custom application development, cloud migration services, data analytics, cybersecurity solutions, and system integration. This segment serves diverse industries including healthcare, banking and financial services, manufacturing, retail, telecommunications, and energy sectors. Within IT Services, Wipro has organized its operations into four global business lines: iDEAS (focusing on digital and emerging technologies), iCORE (traditional IT services), FullStride Cloud Services (cloud transformation), and Engineering Services (product engineering and R&D services). IT Products forms a smaller segment representing roughly 8-10% of revenue, where Wipro acts as a distributor and systems integrator for third-party technology products including enterprise software, networking equipment, data storage solutions, and cybersecurity tools, primarily serving the Indian market and government clients. The India State Run Enterprise Services (ISRE) segment, contributing approximately 2-3% of revenue, provides specialized IT services to Indian government entities and state-owned enterprises, including digital governance solutions and public sector modernization projects. Wipro's service offerings span the entire technology lifecycle, from strategic consulting and system design to implementation, maintenance, and ongoing support. The company has particularly strong capabilities in cloud computing services, artificial intelligence and machine learning solutions, digital workplace services, and industry-specific applications for sectors like healthcare, financial services, and manufacturing.
Revenue model
Wipro generates revenue primarily through professional services contracts where clients pay for technology consulting, software development, system integration, and ongoing IT support services. The company operates on multiple revenue models depending on the service type and client requirements. Professional Services Revenue forms the core of Wipro's business model, where clients pay for consulting services, custom software development, and technology implementation projects. These engagements typically involve multi-year contracts ranging from $10 million to over $100 million in total contract value. Revenue is recognized as services are delivered, either on a time-and-materials basis (charging for actual hours worked) or fixed-price contracts (predetermined fees for specific deliverables). Managed Services and Outsourcing represents another significant revenue stream where Wipro takes over the management of clients' IT infrastructure, applications, or business processes for ongoing monthly or annual fees. These arrangements provide predictable recurring revenue and often span 3-7 years with built-in annual price escalations. Product Sales and Licensing through the IT Products segment generates revenue from selling third-party technology products with markup margins, plus implementation and support services. The company's margins are influenced by several key factors. Positive margin drivers include higher utilization rates of technical staff (currently around 84-85%), increased automation and AI-driven productivity improvements, favorable currency exchange rates (as revenue is largely in USD/EUR while costs are primarily in Indian Rupees), pricing power in specialized high-value services like cloud transformation and AI consulting, and operational efficiency gains from process improvements. Margin pressures come from intense competition leading to pricing constraints, wage inflation in India's competitive IT talent market (requiring 10-15% annual salary increases), higher subcontractor costs during peak demand periods, client demands for cost reductions, and investments in new capabilities and talent acquisition. The company has maintained operating margins in the 15-17% range by balancing these factors through strategic account focus, automation initiatives, and efficient talent management.
Competitive moat
Wipro's competitive moat is moderate but faces ongoing challenges in the highly competitive IT services industry. The company's primary defensive advantages stem from deep client relationships and switching costs. Once Wipro integrates with a client's critical business systems and processes, replacing the vendor becomes expensive and risky, creating natural switching barriers. The company has successfully grown its roster of $100+ million annual revenue clients from 11 to 22 over recent years, indicating strong client expansion within existing relationships. Scale and global delivery capabilities provide another layer of competitive advantage. Wipro's 250,000-employee workforce and global delivery centers enable the company to handle large, complex transformation projects that smaller competitors cannot match. The company's investment in training employees on emerging technologies like artificial intelligence and cloud computing helps maintain technical relevance. However, Wipro's moat is not particularly strong compared to industry leaders. The IT services sector is characterized by intense competition from both Indian peers (Tata Consultancy Services, Infosys, HCL Technologies) and global consulting firms (Accenture, IBM, Capgemini). Competitive threats include pricing pressure from competitors, clients' increasing preference for specialized boutique firms over large generalists, and the rise of automation and low-code platforms that could reduce demand for traditional coding services. Disruption risks come from several sources: artificial intelligence and automation tools that could significantly reduce the need for manual IT services, cloud platforms that simplify technology deployment and reduce consulting needs, and clients developing stronger internal IT capabilities. Additionally, geopolitical tensions and visa restrictions could impact Wipro's traditional model of using Indian talent to serve Western markets. The company's ongoing investments in AI capabilities, cloud expertise, and industry-specific solutions represent attempts to strengthen its competitive position, but these same investments are being made by all major competitors, limiting differentiation potential.
Risks & safety
Wipro demonstrates a solid financial position with adequate margin of safety, though not exceptional by conservative investment standards. • Liquidity and Solvency: Strong current ratio of 2.69x and quick ratio of 2.69x indicate excellent short-term liquidity. Cash and short-term investments of $1.24 billion provide substantial cushion. Debt-to-equity ratio of 0.24x represents conservative leverage levels with minimal solvency risk. • Cash Generation: Robust free cash flow of $476 million in recent quarter, with cash conversion exceeding 100% of net income demonstrates strong cash generation capabilities. Operating cash flow of $508 million supports dividend payments and growth investments. • Valuation Metrics: Trading at P/E ratio of 11x appears reasonable for a mature IT services company, though not deeply undervalued. EV/EBITDA of 6.9x suggests fair valuation. Price-to-book ratio of 1.73x indicates modest premium to book value. • Graham Metrics: Graham number of $147 compared to current price suggests potential undervaluation, though Graham net-net value indicates limited asset-based protection. • Profitability: Return on equity of 3.9% appears low, indicating modest capital efficiency. Operating margins around 16% are healthy for the industry. • Other Considerations: Revenue concentration in discretionary IT spending makes the company vulnerable to economic downturns. Currency exposure to USD/EUR provides both opportunity and risk given INR-denominated cost base.
Recent development
Over the past few years, Wipro has undergone significant strategic transformation focused on organizational restructuring, artificial intelligence investments, and large client acquisition. The company simplified its operating model by transitioning from geographic-based segments to four global business lines: iDEAS, iCORE, FullStride Cloud Services, and Engineering Services, enabling better specialization and cross-selling opportunities. AI and Digital Transformation Focus: Wipro launched Wipro ai360, a comprehensive $1 billion investment ecosystem in artificial intelligence, committing to train its entire 250,000-employee workforce in AI principles over 12 months. The company has delivered over 2,000 global AI engagements and established an AI Center of Excellence with IIT Delhi. These investments aim to drive productivity improvements across HR, marketing, sales, and engineering functions while positioning Wipro as a leader in AI-enabled services. Strategic Account Expansion: The company has deliberately focused on larger, more strategic client relationships, doubling its $100+ million annual revenue accounts from 11 to 22 over two years. This strategy involved exiting smaller, less profitable accounts to concentrate resources on high-value transformation projects. Large deal bookings have shown strong growth, with recent quarters recording $1.3 billion in large deals representing 79% year-over-year growth. Cloud and Partnership Strategy: FullStride Cloud Services has emerged as a key growth driver, contributing over one-third of total revenues and growing 25% year-over-year. Wipro has strengthened partnerships with hyperscaler cloud providers, with hyperscaler bookings representing 44% of total contract value. The company has also made strategic acquisitions including Capco (financial services consulting) and Rizing (SAP consulting) to enhance specialized capabilities. Talent and Operational Excellence: Recognizing talent as a critical competitive advantage, Wipro has invested heavily in workforce development, hiring over 22,000 next-generation associates while reducing attrition rates from peak levels to 14.1%. The company has improved talent utilization to 84.5% and focused on building capabilities in high-demand areas like cloud computing, cybersecurity, and data analytics.
WIT company profile · for informational purposes only — not investment advice.
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