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HCLTech Valuation Multiples
Discover revenue and EBITDA valuation multiples for HCLTech and similar public comparables like Nebius Group, Baidu, Fujitsu, NEC and more.
HCLTech Overview
About HCLTech
HCL Technologies Ltd provides enterprises with IT solutions. It focuses on offering Digital, Internet of Things, Cloud, Automation, Cybersecurity, Infrastructure Management, and Engineering services to solve business problems for clients. It offers solutions to a variety of industries, including Financial Services, Public Services, Consumer Services, Healthcare, and Manufacturing. It operates in three segments: IT and Business Services, Engineering and R&D Services, and HCL Software. The firm emphasizes consultation services for firms, intending to offer them digital and design solutions. The majority of the firm's revenue comes from the IT and Business Services segment. Geographically, it derives maximum revenue from the USA, and the rest from Europe, India, and the Rest of the world.
Founded
1991
HQ
Employees
223.4K
Website
Financials (LTM)
EV
$38B
HCLTech Financials
HCLTech reported last 12-month revenue of $14B and EBITDA of $3B.
In the same LTM period, HCLTech generated $5B in gross profit, $3B in EBITDA, and $2B in net income.
Revenue (LTM)
HCLTech P&L
In the most recent fiscal year, HCLTech reported revenue of $14B and EBITDA of $3B.
HCLTech expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $14B | XXX | $14B | XXX | XXX | XXX |
| Gross Profit | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 33% | XXX | 36% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 22% | XXX | XXX | XXX |
| EBIT Margin | 17% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 13% | XXX | 15% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
HCLTech Stock Performance
HCLTech has current market cap of $41B, and enterprise value of $38B.
Market Cap Evolution
HCLTech's stock price is $15.05.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $38B | $41B | -0.5% | XXX | XXX | XXX | $0.75 |
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Start Free TrialHCLTech Valuation Multiples
HCLTech trades at 2.7x EV/Revenue multiple, and 13.0x EV/EBITDA.
EV / Revenue (LTM)
HCLTech Financial Valuation Multiples
As of April 15, 2026, HCLTech has market cap of $41B and EV of $38B.
Equity research analysts estimate HCLTech's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
HCLTech has a P/E ratio of 21.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $41B | XXX | $41B | XXX | XXX | XXX |
| EV (current) | $38B | XXX | $38B | XXX | XXX | XXX |
| EV/Revenue | 2.7x | XXX | 2.8x | XXX | XXX | XXX |
| EV/EBITDA | 13.0x | XXX | 12.7x | XXX | XXX | XXX |
| EV/EBIT | 15.6x | XXX | 9.9x | XXX | XXX | XXX |
| EV/Gross Profit | 8.3x | XXX | 7.7x | XXX | XXX | XXX |
| P/E | 21.7x | XXX | 20.0x | XXX | XXX | XXX |
| EV/FCF | 21.3x | XXX | 15.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified HCLTech 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.
HCLTech Margins & Growth Rates
HCLTech's revenue in the last 12 month grew by 9%.
HCLTech's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.0M for the same period.
HCLTech's rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
HCLTech's rule of X is 46% (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).
HCLTech Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 9% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 22% | XXX | XXX | XXX |
| EBITDA Growth | 11% | XXX | (3%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 31% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 8% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
HCLTech Public Comps
See public comps and valuation multiples for other IT Consulting and Cloud Infrastructure comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| HCLTech | XXX | XXX | XXX | XXX | XXX | XXX |
| Nebius Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Baidu | XXX | XXX | XXX | XXX | XXX | XXX |
| Fujitsu | XXX | XXX | XXX | XXX | XXX | XXX |
| NEC | XXX | XXX | XXX | XXX | XXX | XXX |
| Experian | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
HCLTech M&A Activity
HCLTech acquired XXX companies to date.
Last acquisition by HCLTech was on XXXXXXXX, XXXXX. HCLTech acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by HCLTech
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialHCLTech Investment Activity
HCLTech invested in XXX companies to date.
HCLTech made its latest investment on XXXXXXXX, XXXXX. HCLTech invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by HCLTech
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout HCLTech
| When was HCLTech founded? | HCLTech was founded in 1991. |
| Where is HCLTech headquartered? | HCLTech is headquartered in India. |
| How many employees does HCLTech have? | As of today, HCLTech has over 223K employees. |
| Who is the CEO of HCLTech? | HCLTech's CEO is Chinnaswamy Vijayakumar. |
| Is HCLTech publicly listed? | Yes, HCLTech is a public company listed on National Stock Exchange of India. |
| What is the stock symbol of HCLTech? | HCLTech trades under HCLTECH ticker. |
| When did HCLTech go public? | HCLTech went public in 2000. |
| Who are competitors of HCLTech? | HCLTech main competitors are Nebius Group, Baidu, Fujitsu, NEC. |
| What is the current market cap of HCLTech? | HCLTech's current market cap is $41B. |
| What is the current revenue of HCLTech? | HCLTech's last 12 months revenue is $14B. |
| What is the current revenue growth of HCLTech? | HCLTech revenue growth (NTM/LTM) is 9%. |
| What is the current EV/Revenue multiple of HCLTech? | Current revenue multiple of HCLTech is 2.7x. |
| Is HCLTech profitable? | Yes, HCLTech is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of HCLTech? | HCLTech's last 12 months EBITDA is $3B. |
| What is HCLTech's EBITDA margin? | HCLTech's last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of HCLTech? | Current EBITDA multiple of HCLTech is 13.0x. |
| What is the current FCF of HCLTech? | HCLTech's last 12 months FCF is $2B. |
| What is HCLTech's FCF margin? | HCLTech's last 12 months FCF margin is 13%. |
| What is the current EV/FCF multiple of HCLTech? | Current FCF multiple of HCLTech is 21.3x. |
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