Wipro
WITNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $2.17 Prior regular-session close from the quote source.
- $2.11–$2.17 Regular-session low and high so far today.
- 5.6M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $1.59–$3.09 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own WIT if its scaled offshore IT services franchise converts enterprise cloud, cost-takeout and AI work back into growth without giving up pricing.
WIT price history
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Investment thesis
What must happen next
Wipro’s scaled offshore delivery proposition can convert a recovery in enterprise transformation and cost-takeout budgets into renewed growth, rather than the recent revenue drift proving structural share loss.HoldingMateriality: High
IFRS annual revenue remained large at INR 890.884 billion in FY2025, showing the client franchise still has scale. If this holds, even modest demand recovery can re-rate the business; if it breaks, Wipro becomes a low-growth services vendor with limited multiple support.
Watch: Accenture, TCS, Infosys, HCLTech or Cognizant announce major vendor-consolidation wins in accounts where Wipro had meaningful work.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
IFRS annual revenue remained large at INR 890.884 billion in FY2025, showing the client franchise still has scale.
Open source ↗Wipro’s utilization, offshoring, automation and pricing discipline can defend profitability while demand is soft, so growth does not have to be bought with materially weaker economics.StrengtheningMateriality: High
IFRS annual operating income rose to $1.771 billion in FY2025 from $1.633 billion in FY2024 despite lower IFRS annual revenue. If margin discipline holds, a revenue recovery has operating leverage; if it fails, growth would add little owner value.
Watch: Indian IT labor inflation accelerates faster than Wipro can offset through utilization, automation or pricing.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
IFRS annual operating income rose to $1.771 billion in FY2025 from $1.633 billion in FY2024 despite lower IFRS annual revenue.
Open source ↗Wipro’s IT services model remains capital-light enough that accounting profit turns into operating cash, funding reinvestment and capital returns without depending on leverage.StrengtheningMateriality: Medium
IFRS annual operating cash flow was $1.983 billion in FY2025, above FY2025 IFRS annual net income of $1.547 billion. Strong cash conversion gives owners downside protection and strategic flexibility; weak conversion would make reported earnings less valuable.
Watch: Large enterprise customers demand materially longer payment terms as part of renewal negotiations.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
IFRS annual operating cash flow was $1.983 billion in FY2025, above FY2025 IFRS annual net income of $1.547 billion.
Open source ↗Wipro’s balance sheet gives it room to invest through the downturn in talent, automation and acquisitions without financial stress becoming the binding constraint.StrengtheningMateriality: Medium
Cash and cash equivalents were $1.428 billion at FY2025 year-end, up from $1.163 billion at FY2024 year-end. If balance-sheet flexibility remains, management can play offense during a services downturn; if it disappears, strategic optionality and shareholder returns narrow.
Watch: Management undertakes a large debt-funded acquisition before organic demand has recovered.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were $1.428 billion at FY2025 year-end, up from $1.163 billion at FY2024 year-end.
Open source ↗
Full investment case & evidence
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Original research
Wipro’s scaled offshore delivery proposition can convert a recovery in enterprise transformation and cost-takeout budgets into renewed growth, rather than the recent revenue drift proving structural share loss. If this holds, even modest demand recovery can re-rate the business; if it breaks, Wipro becomes a low-growth services vendor with limited multiple support.
Wipro’s utilization, offshoring, automation and pricing discipline can defend profitability while demand is soft, so growth does not have to be bought with materially weaker economics. If margin discipline holds, a revenue recovery has operating leverage; if it fails, growth would add little owner value.
Wipro’s IT services model remains capital-light enough that accounting profit turns into operating cash, funding reinvestment and capital returns without depending on leverage. Strong cash conversion gives owners downside protection and strategic flexibility; weak conversion would make reported earnings less valuable.
Wipro’s balance sheet gives it room to invest through the downturn in talent, automation and acquisitions without financial stress becoming the binding constraint. If balance-sheet flexibility remains, management can play offense during a services downturn; if it disappears, strategic optionality and shareholder returns narrow.
All standing thesis claims
Original report summary
its scaled offshore IT services franchise converts enterprise cloud, cost-takeout and AI work back into growth without giving up pricing.
Bull case and bear case
Bull case and bear case for Wipro
Where the evidence on Wipro stands: Holding on the latest evidence (Oct 25, 2026). Of its 4 thesis points, 3 strengthening and 1 holding.
Bull case: what the evidence supports
Wipro’s scaled offshore delivery proposition can convert a recovery in enterprise transformation and cost-takeout budgets into renewed growth, rather than the recent revenue drift proving structural share loss.
Wipro’s utilization, offshoring, automation and pricing discipline can defend profitability while demand is soft, so growth does not have to be bought with materially weaker economics.
Wipro’s IT services model remains capital-light enough that accounting profit turns into operating cash, funding reinvestment and capital returns without depending on leverage.
Wipro’s balance sheet gives it room to invest through the downturn in talent, automation and acquisitions without financial stress becoming the binding constraint.
Bear case: what would count against it
Accenture, TCS, Infosys, HCLTech or Cognizant announce major vendor-consolidation wins in accounts where Wipro had meaningful work.
Indian IT labor inflation accelerates faster than Wipro can offset through utilization, automation or pricing.
Large enterprise customers demand materially longer payment terms as part of renewal negotiations.
Thesis-Break Engine
Thesis-break watch · Wipro
No break has crossed Wipro’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedForeign issuer material report (6-K).
Wipro filed an SEC report on 2026-10-20: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Wipro filed an SEC report on 2026-07-22: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Wipro filed an SEC report on 2026-07-20: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Accenture, TCS, Infosys, HCLTech or Cognizant announce major vendor-consolidation wins in accounts where Wipro had meaningful work.
- Indian IT labor inflation accelerates faster than Wipro can offset through utilization, automation or pricing.
- Large enterprise customers demand materially longer payment terms as part of renewal negotiations.
- Management undertakes a large debt-funded acquisition before organic demand has recovered.
WIT news
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Financial statements
WIT income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
WIT: quick answers
- What is WIT's short interest?
- As of October 30, 2026, 66.9M WIT shares were sold short, down 26.1% from the count before. At the stock's average daily volume that is 4.5 days to cover. FINRA publishes the count twice a month. WIT short interest history
- Have members of Congress traded WIT?
- 1 trade in WIT has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed WIT trade