Company Valuation: Firstsource Solutions Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 85,320 72,085 135,927 235,099 141,499 200,676 - -
Change - -15.51% 88.56% 72.96% -39.81% 41.82% - -
Enterprise Value (EV) 1 92,689 77,600 141,865 252,791 157,679 214,151 210,710 206,479
Change - -16.28% 82.82% 78.19% -37.62% 35.81% -1.61% -2.01%
P/E 16.4x 14.4x 26.9x 40.4x 21.4x 22.3x 18x 15.4x
PBR 2.91x 2.18x 3.72x 5.79x 3.25x 4.16x 3.69x 3.28x
PEG - -3.66x 98.45x 2.7x 1.6x 0.6x 0.8x 0.9x
Capitalization / Revenue 1.45x 1.2x 2.15x 2.95x 1.48x 1.77x 1.59x 1.42x
EV / Revenue 1.58x 1.3x 2.24x 3.17x 1.65x 1.89x 1.67x 1.47x
EV / EBITDA 9.66x 10.3x 14.8x 20.8x 10.1x 11.3x 9.86x 8.57x
EV / EBIT 13x 15.8x 20.4x 28.7x 14.1x 15x 13x 11.1x
EV / FCF 15x 10.5x 25.3x 55x 15.5x 25.8x 19.1x 16.8x
FCF Yield 6.67% 9.55% 3.95% 1.82% 6.46% 3.87% 5.25% 5.97%
Dividend per Share 2 3.5 3.5 3.5 - 5.5 6.094 6.93 7.821
Rate of return 2.8% 3.32% 1.77% - 2.69% 2.1% 2.39% 2.69%
EPS 2 7.62 7.32 7.34 8.42 9.56 13.01 16.13 18.89
Distribution rate 45.9% 47.8% 47.7% - 57.5% 46.8% 43% 41.4%
Net sales 1 58,657 59,859 63,325 79,803 95,564 113,422 125,958 140,884
EBITDA 1 9,599 7,537 9,564 12,164 15,562 19,012 21,368 24,105
EBIT 1 7,105 4,906 6,962 8,806 11,221 14,248 16,191 18,616
Net income 1 5,374 5,137 5,147 5,945 6,744 9,273 11,335 13,392
Net Debt 1 7,369 5,515 5,938 17,692 16,180 13,475 10,034 5,803
Reference price 2 125.05 105.50 197.65 340.25 204.39 290.40 290.40 290.40
Nbr of stocks (in thousands) 682,288 683,270 687,714 690,960 692,297 691,035 - -
Announcement Date 5/5/22 4/5/23 3/5/24 28/4/25 6/5/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.32x1.89x11.26x2.1% 2.11B
32.55x16.57x23.56x0.66% 749B
40.66x7.39x26.22x0.89% 88.98B
22.62x4.57x9.9x0.72% 68.04B
11.25x1.49x7.64x0.98% 48.78B
45.09x1.71x9.59x-.--% 46.22B
-75.12x17.09x41.45x-.--% 43.51B
20.04x3.41x8.12x1.58% 32.17B
20.48x6.23x11.95x-.--% 26.82B
10.48x2.68x6.45x-.--% 26.51B
Average 15.04x 6.30x 15.61x 0.69% 113.19B
Weighted average by Cap. 26.87x 12.92x 21.24x 0.64%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Firstsource Solutions Limited

Historical PBR trend

Valuation ratios - PBR - Firstsource Solutions Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Firstsource Solutions Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Firstsource Solutions Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Firstsource Solutions Limited
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