Genpact (G) FY2025 results: revenue $5.1 billion, up 6.6% on the year
Genpact Ltd. (G) reported revenue of $5.1 billion for fiscal 2025, the year ended 31 December 2025, up 6.6% on the year before. Net income was $552 million, up 7.6%, and diluted earnings per share $3.13. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 raised, 1 narrowed, 13 new.
- Full-year net revenue rose 6.6%: Full-year 2025 net revenues were $5.080 billion, up 6.6% year-over-year and 6.4% on a constant currency basis.
- Adjusted diluted EPS rose 11.3%: Full-year adjusted diluted EPS was $3.65, up 11.3%; GAAP diluted EPS was $3.13, up 9.8%.
- Advanced Technology Solutions up 17%: Advanced Technology Solutions reached $1.204 billion for the year, up 17.0%, and was 24% of total net revenues. Third-quarter growth was 20.0%.
- Quarterly dividend raised 10%: Board declared a first-quarter 2026 cash dividend of $0.1875 per common share, a 10% increase.
- 2026 revenue growth at least 7%: Full-year 2026 net revenue growth of at least 7% as reported, or 6.8% constant currency; Advanced Technology Solutions expected at least high-teens.
From this 10-K
Genpact runs business processes and builds data, AI and technology systems for large companies, which it describes as agentic and advanced technology solutions. It was set up more than 25 years ago as the global capability center for the General Electric Company, where its job was to refine shared business processes using Lean Six Sigma and similar methods. It is organized in Bermuda. At December 31, 2025 it had over 146,500 employees working in more than 35 countries.
The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025
Income statement (profit and loss)
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Revenue | 5,080 | 4,767 | 4,477 | +6.6% | |
| Cost of revenue | 3,249 | 3,077 | 2,906 | +5.6% | |
| Gross profit | 1,831 | 1,690 | 1,571 | +8.3% | |
| Gross margin | 36.0% | 35.5% | 35.1% | ||
| Selling, general and administrative | 1,047 | 967 | 913 | +8.2% | |
| Operating income | 750 | 702 | 631 | +6.9% | |
| Operating margin | 14.8% | 14.7% | 14.1% | ||
| Interest expense | 49.6 | 79.5 | 66.3 | -37.6% | |
| Pre-tax income | 730 | 677 | 602 | +7.9% | |
| Income tax | 178 | 163 | -29.0 | +8.9% | |
| Effective tax rate | 24.3% | 24.1% | -4.8% | ||
| Net income | 552 | 514 | 631 | +7.6% | |
| Net margin | 10.9% | 10.8% | 14.1% | ||
| Diluted EPS | $3.13 | $2.85 | $3.41 | +9.8% |
Read more
Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Operating cash flow | 813 | 615 | 491 | +32.1% | |
| Capital expenditure | 78.2 | 82.8 | 55.4 | -5.5% | |
| Free cash flow | 735 | 533 | 435 | +37.9% | |
| Free cash flow margin | 14.5% | 11.2% | 9.7% | ||
| Cash from investing | -495 | -106 | -78.9 | ||
| Cash from financing | -107 | -425 | -483 | ||
| Depreciation and amortisation | 95.0 | 96.3 | 104 | -1.3% | |
| Share-based compensation | 89.6 | 66.4 | 88.6 | +35.0% | |
| Buybacks | n/a | 253 | 225 | ||
| Dividends paid | 118 | 108 | 100 | +8.6% | |
| Dividend per share | $0.68 | $0.61 | $0.55 | +11.5% | |
| Diluted shares, weighted | 177m | 180m | 185m | -2.1% | |
| Shares outstanding at period end | 170m | 175m | 179m | -2.5% |
Balance sheet
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Shareholders' equity | 2,549 | 2,390 | 2,248 | +6.7% | |
| Short-term borrowings | 0.0 | 0.0 | n/a | ||
| Debt | 1,542 | 1,221 | 1,267 | +26.3% | |
| Operating lease liabilities | 151 | 154 | 168 | -1.9% | |
| Finance lease liabilities | 9.9 | 8.8 | 6.9 | +12.0% | |
| Other liabilities | 1,591 | 1,214 | 1,115 | +31.1% | |
| Total liabilities and equity | 5,843 | 4,987 | 4,806 | +17.2% | |
| Fixed assets | 190 | 208 | 190 | -8.4% | |
| Goodwill | 1,781 | 1,670 | 1,684 | +6.7% | |
| Intangible assets | 67.0 | 26.9 | 53.0 | +148.8% | |
| Investments | 350 | 23.4 | 0.0 | +1,398.4% | |
| Cash and equivalents | 854 | 648 | 584 | +31.7% | |
| Receivables | 1,241 | 1,199 | 1,116 | +3.5% | |
| Other assets | 1,360 | 1,212 | 1,179 | +12.2% | |
| Total assets | 5,843 | 4,987 | 4,806 | +17.2% |
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.