At a glance
Genpact Limited is worth $6.53B, about 12 times its fiscal 2025 earnings. Revenue grew 6.6% to $5.08B in fiscal 2025, with 10.9% kept as profit; over 5 years it has grown 6.5% a year. It pays a 1.91% dividend yield, raised every year for at least 6 years, and returned $1.49B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +1.1% over the past year with dividends reinvested and −3.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 48.4% in the 2020 crash (S&P 500: 33.7%) and 28.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 33 months after the lows.
The business in plain English
Genpact runs and redesigns business processes for large companies. It began more than 25 years ago as General Electric's in-house center for shared business processes, and that work remains its core: finance and accounting, insurance claims, loan and payment operations, supply chain planning and customer service. It has added artificial intelligence (AI) work, including "agentic" systems. These are software agents that handle routine steps of a process while people oversee them. It had over 146,500 employees and $5.1 billion in net revenue in 2025.
Genpact earns fees under service contracts, including long-term and fixed-price deals. By type of service, Core Business Services brought in $3.9 billion, or 76.3% of 2025 revenue. This covers running clients' day-to-day operations, maintaining their technology and producing data analysis for decisions. Advanced Technology Solutions brought in $1.2 billion, or 23.7%. It covers data and AI, digital technology, advisory and agentic work.
By client industry, High Tech and Manufacturing was the largest segment at 39.3% of 2025 revenue. Its clients include software, semiconductor, social media, automotive and energy companies. Consumer and Healthcare made up 34.0%, serving retailers, consumer goods makers, drug companies and health insurers. Financial Services made up 26.7%, serving banks, capital markets firms and insurers. Revenue depends heavily on clients in North America and Europe, while much of the workforce is in India.
Price history
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G +1.1% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| High Tech and Manufacturing | $2.00B | 39.3% |
| Consumer and Healthcare | $1.72B | 34% |
| Financial Services | $1.36B | 26.7% |
By geography
| India | $2.98B | 58.7% |
| Asia, other than India | $788.1M | 15.5% |
| North and Latin America | $730.4M | 14.4% |
| Europe | $578.4M | 11.4% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.34B, up 7.1% from a year earlier, and net income was $145.7M (+9.8%).
- For fiscal 2025, revenue was $5.08B (+6.6% year over year; +6.5% a year from FY2020 to FY2025) with a 10.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +6.5% good |
|---|---|
| Operating margin | 14.8% watch |
| Free cash flow margin | 14.5% good |
| Return on equity (FY2025) | 21.7% good |
| Return on assets (FY2025) | 9.5% good |
| Net cash (cash minus debt) | $-662.9M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $3.71B | $308.3M | $514.1M |
| FY2021 | $4.02B | $369.4M | $640.9M |
| FY2022 | $4.37B | $353.4M | $393.1M |
| FY2023 | $4.48B | $631.3M | $435.4M |
| FY2024 | $4.77B | $513.7M | $532.7M |
| FY2025 | $5.08B | $552.5M | $734.7M |
Valuation snapshot
| Market value | $6.53B |
|---|---|
| P/E ratio | 12.4 |
| Dividend yield | 1.91% |
Rank among 1514 US companies
Market value at each year end
Genpact Limited’s market value went from $4.89B at the end of 2016 to $6.53B on Oct 28, 2026, up 34%; since the end of 2025 it is down 19%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $6.53B | -19.1% |
| 2025 | $8.07B | +6.5% |
| 2024 | $7.57B | +20.3% |
| 2023 | $6.30B | -25.8% |
| 2022 | $8.49B | -15.0% |
| 2021 | $9.98B | +27.5% |
| 2020 | $7.83B | -2.2% |
| 2019 | $8.01B | +56.1% |
| 2018 | $5.13B | -16.3% |
| 2017 | $6.13B | +25.4% |
| 2016 | $4.89B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| G price data to Oct 28, 2026 | -15.6% | +1.1% | +7.6% | -3.3% | +6.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -15.6% |
| 2025 | +10.6% |
| 2024 | +25.8% |
| 2023 | -24.0% |
| 2022 | -11.7% |
| 2021 | +29.5% |
| 2020 | -0.9% |
| 2019 | +57.8% |
| 2018 | -14.1% |
| 2017 | +31.5% |
| 2016 | -2.6% |
| 2015 | +32.0% |
| 2014 | +3.0% |
| 2013 | +18.5% |
| 2012 | +17.6% |
| 2011 | -1.6% |
| 2010 | +2.1% |
| 2009 | +81.3% |
| 2008 | -46.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 54.1% over that stretch · deepest drop along the way 61.7%, back to its old high 17 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 45.9% over that stretch · deepest drop along the way 48.4%, back to its old high 10.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 18% over that stretch · deepest drop along the way 28%, back to its old high 33.1 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 8 sales ($2.4M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 11, 2026 | Anil Nanduru Senior Vice President | sell | $586K |
| Aug 14, 2026 | Sameer Dewan Senior Vice President | sell | $454K |
| Aug 12, 2026 | Anil Nanduru Senior Vice President | sell | $402K |
| Sep 14, 2026 | Balkrishan Kalra President and CEO, Director | sell | $368K |
| Aug 19, 2026 | Anil Nanduru Senior Vice President | sell | $229K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 9% | Dec 31, 2024 |
| Vanguard Portfolio Management | 6.14% | Jun 30, 2026 |
| FMR LLC | 6.1% | Jun 30, 2026 |
| Victory Capital Management, Inc. | 5.59% | Dec 31, 2024 |
| Vanguard Capital Management | 5.1% | Mar 31, 2026 |
| AQR Capital Management, LLC | 5.07% | Jun 30, 2026 |
| FIDUCIARY MANAGEMENT INC /WI/ | 5% | Feb 14, 2025 |
ETFs with the most weight in G
| MDPL Monarch Dividend Plus ETF | 3.36% |
| TDV ProShares S&P Technology Dividend Aristocrats ETF | 3.15% |
| SRHQ SRH U.S. Quality GARP ETF | 2.41% |
| BRNY Burney U.S. Factor Rotation ETF | 2.4% |
| OUSM ALPS | O’Shares U.S. Small-Cap Quality Dividend ETF | 2.39% |
| MGMT Ballast Small/Mid Cap ETF | 2% |
| RWLC Rayliant NxtGen Multifactor US Equity ETF | 1.94% |
| CGV Conductor Global Equity Value ETF | 1.38% |
What could go wrong
- AI could replace work Genpact sells. Genpact expects artificial intelligence (AI) and automation to replace some services it performs. Clients may also reject new pricing models, rivals may move faster, and clients may build their own AI tools.
- Heavy dependence on operations in India. A substantial portion of Genpact's assets, employees and operations is in India. Changes in regulation, the economy, society or politics there could raise costs or disrupt its work for clients.
- Reliance on North American and European clients. Revenue depends heavily on clients in North America and Europe. New laws or executive actions in the US and elsewhere could make clients less able or willing to use Genpact's services.
- Mispriced long-term and fixed-price contracts. Genpact signs long-term and fixed-price deals. If it underestimates the cost or effort, it absorbs the overrun. New managed-operations contracts can also take a long time to win and set up before revenue starts.
- Wage increases and currency swings squeeze margins. Pay rises in the countries where Genpact operates can cut its profit margin if prices don't keep up. Moves in the Indian rupee, euro and US dollar can also hurt results.
- Bermuda tax and shareholder-law risks. Genpact is organized under Bermuda law. Bermuda has enacted a corporate income tax that may apply to it, and Bermuda law may give shareholders less protection than US law.
Recent events
- Executive or board change
- Quarterly results released
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Quarterly results released
For income and retirement investors
Genpact pays a modest but growing dividend. It raised its dividend per share six years in a row through 2025, from $0.39 in 2020 to $0.68, about 11.8% a year. The 2025 payout used 21.3% of earnings and 16% of free cash flow (the cash left after running and investing in the business). The dividend yield was 1.91% as of October 28, 2026. Buybacks (purchases of its own shares) have been bigger, at about $990 million from 2021 through 2024. The share count fell 10.6% between November 2021 and August 2026. The 10-K says future dividends are not guaranteed.
The shares have fallen hard in downturns: 61.7% in the 2008 financial crisis, 48.4% in the 2020 COVID crash and 28% in the 2022 bear market. The 2022 loss took about 33 months to recover. In the year to October 28, 2026, the price fell as much as 42.7% from its high. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Genpact make money?
Genpact charges large companies to run and improve business processes for them, such as finance and accounting, insurance claims, loan operations and supply chain planning. In 2025, Core Business Services, mainly running clients' operations and supporting their technology, brought in 76.3% of net revenue. Advanced Technology Solutions, including data, artificial intelligence (AI) and advisory work, brought in 23.7%. Total net revenue was $5.1 billion, up 6.6%, and net income was $552 million.
Does Genpact raise its dividend every year?
Yes, for six straight years through 2025. Its dividend per share rose from $0.39 in 2020 to $0.68 in 2025, about 11.8% a year. The 2025 dividend used 21.3% of earnings, a low share of profits. The dividend yield was 1.91% as of October 28, 2026. The company's 10-K warns that there is no assurance it will keep paying dividends, which the board decides.
Is AI a threat to Genpact's business?
It could be. Genpact says it expects AI (artificial intelligence) and other automation to replace some of the services it performs for clients, in whole or in part. Clients may also not accept new pricing models. Rivals, and clients' own teams, are building AI tools too. Genpact is also building AI and "agentic" solutions, meaning software agents that handle steps of a process under human oversight. Advanced Technology Solutions, which includes this work, brought in $1.2 billion, or 23.7% of 2025 net revenue.
Is Genpact an Indian company?
Not legally. Genpact is organized under the laws of Bermuda, and its shares trade on the New York Stock Exchange. It began more than 25 years ago as General Electric's in-house business process center. Still, a substantial portion of its assets, employees and operations is in India. That makes conditions there, including regulation, politics and the rupee, important to its results. Bermuda law may give shareholders less protection than US law, and Bermuda has enacted a corporate income tax that could apply to Genpact.
How has Genpact stock performed?
Unevenly. As of October 28, 2026, the share price was down 15.6% year to date and up 1.1% over one year. It rose about 7.6% a year over three years and fell about 3.3% a year over five years. Over ten years it rose about 6.6% a year, or 90% in total. Calendar years swing widely, for example a 24.0% drop in 2023 followed by a 25.8% gain in 2024. On October 28, 2026, the shares traded at about 12.4 times 2025 earnings.