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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.

Revenue
$5.1 billion
+6.6% on the year
FY2018FY2025
Operating margin
14.8%
14.7% a year earlier
FY2018FY2025
Net income
$552 million
+7.6% on the year
FY2018FY2025
Diluted EPS
$3.13
+9.8% on the year
FY2018FY2025

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.
Read the Q4 FY2025 earnings call summary

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.

Genpact Ltd., the 10-K for 2025

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.

Two kinds of work

Since the quarter that began April 1, 2025, it has split its work into Advanced Technology Solutions and Core Business Services. Advanced Technology Solutions covers Data and AI, including data engineering and generative AI; Digital Technology, its own and partners' software for running processes; Advisory Services on process design, operating models and M&A; and Agentic Solutions, which use large and small language models, robotic process automation and orchestration to deploy AI agents that handle parts of a workflow while people handle judgement and oversight. Core Business Services covers Decision Support Services, which analyze data for clients' supply chain, procurement, risk and financial planning; Technology Services, including application management and support for platforms such as Enterprise Resource Planning systems; and Digital Operations, its traditional managed services that run clients' operations.

The three segments

Financial Services serves banks, capital markets firms and insurers. For insurers it offers underwriting support, policy administration, claims management, catastrophe and actuarial modeling, and third-party administration of property and casualty claims, and for banks it handles work such as fraud and dispute management, anti-money laundering, Know Your Customer and sanctions screening. Consumer and Healthcare serves consumer goods makers, retailers, life sciences companies, healthcare payers and providers, with work ranging from demand planning and trade promotion to regulatory affairs and claims processing. High Tech and Manufacturing serves technology, software, social media, semiconductor and media companies, with services such as trust and safety and advertising sales support, and manufacturers in aerospace, automotive, chemicals, energy and other sectors, with procurement, logistics, aftermarket support and engineering services.

Functional services

Across all three it provides finance and accounting services, including accounts payable, invoice-to-cash, record to report and financial planning and analysis, as well as supply chain and procurement, human resources advisory, and sales and marketing services. It also helps clients set up their own global business services and global capability centers, from location selection and hiring to transition.

Clients and delivery

Its clients include about one quarter of the Fortune Global 500. Digital Operations work is often contracted under a master services agreement supplemented by statements of work, while Agentic Solutions are typically sold on software-as-a-service agreements. It serves clients from more than 100 delivery centers in more than 25 countries, including India, the Philippines, China, Poland, Romania, Mexico, Guatemala, Costa Rica, Colombia, Brazil and the United States. Under its Genpact Virtual Captive model, a client gets dedicated teams and dedicated infrastructure at Genpact's delivery centers.

Leadership

Balkrishan Kalra is President and Chief Executive Officer.

From Genpact's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 26 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue5,0804,7674,477+6.6%
Cost of revenue3,2493,0772,906+5.6%
Gross profit1,8311,6901,571+8.3%
Gross margin36.0%35.5%35.1%
Selling, general and administrative1,047967913+8.2%
Operating income750702631+6.9%
Operating margin14.8%14.7%14.1%
Interest expense49.679.566.3-37.6%
Pre-tax income730677602+7.9%
Income tax178163-29.0+8.9%
Effective tax rate24.3%24.1%-4.8%
Net income552514631+7.6%
Net margin10.9%10.8%14.1%
Diluted EPS$3.13$2.85$3.41+9.8%
$ million except per share.
Read moreFree 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

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow813615491+32.1%
Capital expenditure78.282.855.4-5.5%
Free cash flow735533435+37.9%
Free cash flow margin14.5%11.2%9.7%
Cash from investing-495-106-78.9
Cash from financing-107-425-483
Depreciation and amortisation95.096.3104-1.3%
Share-based compensation89.666.488.6+35.0%
Buybacksn/a253225
Dividends paid118108100+8.6%
Dividend per share$0.68$0.61$0.55+11.5%
Diluted shares, weighted177m180m185m-2.1%
Shares outstanding at period end170m175m179m-2.5%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity2,5492,3902,248+6.7%
Short-term borrowings0.00.0n/a
Debt1,5421,2211,267+26.3%
Operating lease liabilities151154168-1.9%
Finance lease liabilities9.98.86.9+12.0%
Other liabilities1,5911,2141,115+31.1%
Total liabilities and equity5,8434,9874,806+17.2%
Fixed assets190208190-8.4%
Goodwill1,7811,6701,684+6.7%
Intangible assets67.026.953.0+148.8%
Investments35023.40.0+1,398.4%
Cash and equivalents854648584+31.7%
Receivables1,2411,1991,116+3.5%
Other assets1,3601,2121,179+12.2%
Total assets5,8434,9874,806+17.2%

10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.