Proprietary AI analyst is now available

Coforge Valuation Multiples

Discover Coforge's revenue and EBITDA valuation multiples and M&A history, alongside public comparables like iSoftstone, Parsons, GDS Holdings, LG CNS and more.

Coforge Overview

About Coforge

Coforge Ltd provides a variety of information technology services. The firm's services include infrastructure management, business processes outsourcing, application and network testing, systems integration, IP asset-based solutions, application development and maintenance, managed services, cloud computing, and digital services, among others. The company's customers typically operate in the travel and transportation, banking and financial services, insurance, manufacturing, and media industries. The geographical segments of the company include the Americas, India, Europe, Middle East and Africa, and Asia Pacific. It generates maximum revenue from the Americas.


Founded

1992

HQ

India

Employees

17.3K

Financials (LTM)

Revenue: $2B
EBITDA: $356M

EV

$6B

Valuation Multiples

Start free trial

Valuation Multiples for 15K+ Public Comps

AdidasAirbnbAmazonCiscoCoca-ColaDellDropboxIBMIntelMcDonaldsNikeNVIDIASamsungSpotifyTeslaToyota
Browse Valuation Multiples

Coforge Financials

Coforge reported last 12-month revenue of $2B and EBITDA of $356M.

In the same LTM period, Coforge generated $637M in gross profit, $356M in EBITDA, and $183M in net income.

Revenue (LTM)


Coforge P&L

In the most recent fiscal year, Coforge reported revenue of $2B and EBITDA of $320M.

Coforge is profitable as of last fiscal year, with gross margin of 36%, EBITDA margin of 18%, and net margin of 9%.

See analyst estimates for Coforge
LTMLast FY202320242025202620272028
Revenue$2B$2B$928M$1B$2B
Gross Profit$637M$624M$334M$427M$582M
Gross Margin34%36%36%36%36%
EBITDA$356M$320M$150M$187M$267M
EBITDA Margin19%18%16%16%17%
EBIT Margin15%14%12%11%14%
Net Profit$183M$164M$81M$85M$143M
Net Margin10%9%9%7%9%

Financial data powered by Morningstar, Inc.

Coforge Stock Performance

Coforge has current market cap of $6B, and enterprise value of $6B.

Market Cap Evolution


Coforge's stock price is $14.28.

Coforge share price decreased by 4.6% in the last 30 days, and by 31.5% in the last year.

Coforge has an EPS (earnings per share) of $0.37.

See more trading valuation data for Coforge
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$6B$6B-1.9%-4.6%19.6%-31.5%$0.37

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.

Start Free Trial

Coforge Valuation Multiples

Coforge trades at 3.4x EV/Revenue multiple, and 17.7x EV/EBITDA.

See NTM and 2027E valuation multiples for Coforge

EV / Revenue (LTM)


Coforge Financial Valuation Multiples

As of June 13, 2026, Coforge has market cap of $6B and EV of $6B.

Coforge has a P/E ratio of 34.5x.

LTMLast FY202320242025202620272028
EV/Revenue3.4x3.6x6.8x5.3x3.9x
EV/EBITDA17.7x19.6x41.9x33.6x23.5x
EV/EBIT22.7x25.4x54.2x48.4x28.7x
EV/Gross Profit9.9x10.1x18.8x14.7x10.8x
P/E34.5x38.4x77.6x74.6x44.2x
EV/FCF129.4x57.3x88.9x96.0x63.8x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Coforge Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

FactSetMorningstar
Start Free Trial

Coforge Margins & Growth Rates

Coforge grew revenue by 37% and EBITDA by 54% in the last fiscal year.

In the most recent fiscal year, Coforge reported gross margin of 36%, EBITDA margin of 18%, and net margin of 9%.

See estimated margins and future growth rates for Coforge

Coforge Margins

Last FY202420252026202720282029
Gross Margin36%36%36%34%
EBITDA Margin18%16%17%20%
EBIT Margin14%11%14%16%
Net Margin9%7%9%11%
FCF Margin6%6%6%(4%)

Coforge Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth37%28%35%38%
Gross Profit Growth26%28%36%28%
EBITDA Growth54%25%43%66%
EBIT Growth59%12%68%64%
Net Profit Growth56%4%69%63%
FCF Growth(232%)(7%)50%(183%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Coforge Operational KPIs

Coforge's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.0M for the same period.

Coforge's Rule of 40 is 58% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Coforge's Rule of X is 115% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Coforge
LTMLast FY202320242025202620272028
Rule of 4050%58%---
Bessemer Rule of X97%115%---
Revenue per Employee-$0.1M---
Opex per Employee-$0.0M---
S&M Expenses to Revenue--1%1%0%
G&A Expenses to Revenue-13%12%14%14%
Opex to Revenue-22%24%25%23%

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

Coforge Competitors

Coforge competitors include iSoftstone, Parsons, GDS Holdings, LG CNS, Otsuka, Ingram Micro, Computacenter, Shanghai Stonehill, solutions by stc and Nextdc.

Most Coforge public comparables operate across IT Consulting.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
iSoftstone1.2x1.1x56.5x39.8x
Parsons1.2x1.1x12.2x11.9x
GDS Holdings7.0x6.8x13.3x14.5x
LG CNS1.2x1.2x10.2x10.6x
Otsuka0.6x0.6x8.3x8.3x
Ingram Micro0.2x0.2x7.1x6.9x
Computacenter0.4x0.4x10.8x10.3x
Shanghai Stonehill49.8x-314.7x-

This data is available for Pro users. Sign up to see all Coforge competitors and their valuation data.

Start Free Trial

Coforge VC Funding History

Before going public, Coforge raised $108M in total equity funding, across 1 round.


Coforge Funding Rounds

DateStageRaised FromRaisedValuationRev. MultipleDeal Summary
May-23Secondary - public-$108M--

Acquisitions by Coforge

Coforge has acquired 8 companies to date.

Last acquisition by Coforge was on December 26th 2025. Coforge acquired Encora for $2B (EV/Revenue multiple available to Pro users).

See M&A valuation multiples

Latest Acquisitions by Coforge

Encora
TMLabs
Rythmos
Xceltrait
Description
Encora is a Scottsdale-headquartered provider of digital engineering services, specializing in software product development, cloud migration, data analytics, and AI for enterprise clients.
TMLabs is a Sydney-headquartered independent consultancy excelling in ServiceNow implementations and managed services for Australian enterprises. The firm architects IT service management solutions, with specialized teams in Integrated Risk Management and Cyber Security. TMLabs delivers platform migrations, custom workflows, and ongoing optimization to clients in government, banking, and healthcare, leveraging partnerships with ServiceNow for certified expertise.
Rythmos is a consulting firm specializing in data integration, loyalty programs, marketing automation, and DevOps for enterprise transformation. The company deploys solutions using MuleSoft for APIs, Salesforce for CRM, and Kubernetes for container orchestration. Minneapolis-based Rythmos serves financial services and retail clients, enabling real-time data flows from sources like SAP and Oracle databases.
Xceltrait is a Naperville-headquartered IT consulting firm established in 2006. It delivers mobile app development, web development, cloud computing, IT infrastructure support, training, eLearning, and staffing services to startups through Fortune 500 clients across local, regional, and global markets.
HQ CountryUnited StatesAustraliaUnited StatesUnited States
HQ City
Phoenix, AZ
Sydney
Dallas, TX
Chicago, IL
Deal Date26 Dec 20255 Mar 20255 Mar 202523 Jan 2025
Valuation$2B$13M$49M$18M
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Coforge acquisitions and their M&A valuation multiples.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

About Coforge

When was Coforge founded?Coforge was founded in 1992.
Where is Coforge headquartered?Coforge is headquartered in India.
How many employees does Coforge have?As of today, Coforge has over 17K employees.
Who is the CEO of Coforge?Coforge's CEO is Sudhir Singh.
Is Coforge publicly listed?Yes, Coforge is a public company listed on National Stock Exchange of India.
What is the stock symbol of Coforge?Coforge trades under COFORGE ticker.
When did Coforge go public?Coforge went public in 2004.
Who are competitors of Coforge?Coforge main competitors include iSoftstone, Parsons, GDS Holdings, LG CNS, Otsuka, Ingram Micro, Computacenter, Shanghai Stonehill, solutions by stc, Nextdc.
What is the current market cap of Coforge?Coforge's current market cap is $6B.
What is the current revenue of Coforge?Coforge's last 12 months revenue is $2B.
What is the current revenue growth of Coforge?Coforge revenue growth (NTM/LTM) is 31%.
What is the current EV/Revenue multiple of Coforge?Current revenue multiple of Coforge is 3.4x.
What is the current EBITDA of Coforge?Coforge's last 12 months EBITDA is $356M.
What is Coforge's EBITDA margin?Coforge's last 12 months EBITDA margin is 19%.
What is the current EV/EBITDA multiple of Coforge?Current EBITDA multiple of Coforge is 17.7x.
What is the current FCF of Coforge?Coforge's last 12 months FCF is $49M.
What is Coforge's FCF margin?Coforge's last 12 months FCF margin is 3%.
What is the current EV/FCF multiple of Coforge?Current FCF multiple of Coforge is 129.4x.
How many companies Coforge has acquired to date?As of June 2026, Coforge has acquired 8 companies.
What was the largest acquisition by Coforge?$2B acquisition of Encora on 26th December 2025 was the largest M&A Coforge has done to date.
What companies Coforge acquired?Coforge acquired Encora, SLK Global Solutions, Cigniti Technologies, Rythmos, Incessant Technologies, Xceltrait, TMLabs, and Whishworks.
In how many companies Coforge has invested to date?Coforge hasn't invested in any companies yet (or none have been disclosed publicly).

See public comps similar to Coforge

Lists including Coforge

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial