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 72,085 135,927 235,099 141,499 194,699 - -
Change - -15.51% 88.56% 72.96% -39.81% 37.6% - -
Enterprise Value (EV) 1 92,689 77,600 141,865 252,791 157,679 208,174 204,733 200,502
Change - -16.28% 82.82% 78.19% -37.62% 32.02% -1.65% -2.07%
P/E 16.4x 14.4x 26.9x 40.4x 21.4x 21.6x 17.5x 14.9x
PBR 2.91x 2.18x 3.72x 5.79x 3.25x 4.03x 3.58x 3.18x
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 1.72x 1.55x 1.38x
EV / Revenue 1.58x 1.3x 2.24x 3.17x 1.65x 1.84x 1.63x 1.42x
EV / EBITDA 9.66x 10.3x 14.8x 20.8x 10.1x 11x 9.62x 8.37x
EV / EBIT 13x 15.8x 20.4x 28.7x 14.1x 14.7x 12.7x 10.8x
EV / FCF 15x 10.5x 25.3x 55x 15.5x 24.3x 18.5x 16.2x
FCF Yield 6.67% 9.55% 3.95% 1.82% 6.46% 4.12% 5.39% 6.17%
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% 2.16% 2.46% 2.78%
EPS 2 7.62 7.32 7.34 8.42 9.56 13.06 16.1 18.9
Distribution rate 45.9% 47.8% 47.7% - 57.5% 46.7% 43% 41.4%
Net sales 1 58,657 59,859 63,325 79,803 95,564 113,394 125,907 140,802
EBITDA 1 9,599 7,537 9,564 12,164 15,562 18,949 21,273 23,968
EBIT 1 7,105 4,906 6,962 8,806 11,221 14,173 16,091 18,508
Net income 1 5,374 5,137 5,147 5,945 6,744 9,238 11,316 13,419
Net Debt 1 7,369 5,515 5,938 17,692 16,180 13,475 10,034 5,803
Reference price 2 125.05 105.50 197.65 340.25 204.39 281.75 281.75 281.75
Nbr of stocks (in thousands) 682,288 683,270 687,714 690,960 692,297 691,035 - -
Announcement Date 5/5/22 A 5/4/23 A 5/3/24 A 4/28/25 A 5/6/26 A - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.1x1.88x11.23x2.11% 2.09B
31.14x15.91x22.63x0.69% 719B
37.85x6.89x24.44x0.95% 82.84B
22.44x4.44x9.77x0.75% 64.41B
-88.02x19.35x46.7x-.--% 50.99B
11.03x1.47x7.54x1% 47.99B
45.98x1.7x9.52x-.--% 45.85B
19.3x3.31x7.88x1.64% 30.98B
19.71x6.04x11.61x-.--% 25.81B
9.72x2.57x6.2x-.--% 24.5B
Average 13.12x 6.36x 15.75x 0.71% 109.4B
Weighted average by Cap. 24.22x 12.57x 20.85x 0.66%

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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