Infosys
Infosys Limited provides AI-first business consulting and technology services, to enable organizations to unlock AI value at scale.
20-F, Jun 15, 2026
Source and method
In the company’s words: first descriptive sentence of 20-F Item 4, verbatim (extractive). Item 4 · Information on the Company · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Business
How does Infosys make money?
No revenue split that adds up to total revenue.
Empty state, nothing estimated.
What is left of every $100?
Of every $100 in revenue, $16 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $19.3B
- Gross profit: $5.9B
- Operating income: $4.1B
- Net income: $3.2B
- Free cash flow: not reported (not reported for this fiscal year, nothing estimated)
Where do customers sit?
No revenue-by-region breakdown in the latest annual report's XBRL data.
In the company’s words ›
“With over four decades of experience in managing the systems and workings of global enterprises, Infosys accelerates business transformation through its AI-first value framework, deep domain expertise, and unique ability to orchestrate innovations from its AI-native partner ecosystem.”
“Infosys’s strategy is to be the navigator for its clients as they ideate, plan and execute on their journey to an AI-first future.”
“Our vision is to build a globally respected organization delivering best-of-breed business solutions, leveraging technology, delivered by best-in-class people.”
Item 4 · Information on the Company · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Thesis
Why do people invest?
1 reason in the company’s own words.
Position (in the company’s words)
“We unveiled our AI first value framework to help global enterprises unlock AI value at scale, harnessing the power of our industry-leading generative and agentic AI suite, Infosys Topaz.”
Item 4 · Information on the Company · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Source and method
Verbatim · selection. Sentences selected by rules from the 20-F and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
1 of 1 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue grew 3.9% to $19.3B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Infosys files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue grew 20.1%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
21.1% operating margin, up from 20.7%.
30.5% gross margin, up from 30.1%.
Operating income grew 6.2% to $4.1B.
Net income fell 0.3% to $3.2B.
R&D grew 13% to $153M.
EPS diluted was flat at $0.76.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Infosys files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Operating cash flow grew 38% to $4.4B.
Dividends grew 36% to $2.4B.
Stock-based compensation grew 20% to $95.0M.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Infosys files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
Cash: $2.9B; debt not reported.
Interest expense fell 12% to $49.0M.
Total assets grew 5.4% to $17.4B.
Equity grew 6.1% to $11.2B.
Cash grew 61% YoY to $2.9B.
Total assets grew 5.4% YoY to $17.4B.
Equity grew 6.1% YoY to $11.2B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Infosys files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
Who does Infosys depend on?
No customer above the disclosure threshold.
Customers, suppliers, stakes and mentions ›
Only what filings state. Anonymous customers stay anonymous.
Largest customers (Infosys annual report)
No customer with a reported share of revenue (the 10-K names none above the disclosure threshold).
Suppliers named by Infosys
Infosys holds stakes in
No stake in a covered company found in SEC filings.
Others name Infosys
2 partner mentions (e.g. MongoDB, ServiceNow) in covered companies’ filings. Mentions, not confirmed relationships.
Risks
What could go wrong?
4 of 76 risk factors, one per theme.
Competition
“Intense competition in the market for technology services could affect our win rates and pricing, which could reduce our market share and decrease our revenues and profits.”
Item 3.D · Risk Factors · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Trade, government policy and geopolitics
“Spending on technology products and services by our clients and prospective clients fluctuates depending on many factors, including technological advances, geopolitical changes, economic factors, regulatory environment, and changes in tariffs or trade restrictions, fiscal or monetary policies in the markets in which they operate.”
Item 3.D · Risk Factors · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
AI and new products
“Our investments in or use of AI technologies may not be successful and may present business, financial, legal, and reputational risks.”
Item 3.D · Risk Factors · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Regulation and legal proceedings
“A significant portion of our employees in the United States, the United Kingdom, the EU, and other countries and regions rely on work visas and permits, which makes our business vulnerable to changes and exposed to variations in immigration laws.”
Item 3.D · Risk Factors · 20-F · 0001193125-26-270520 · filed Jun 15, 2026
Source and method
Short verbatim quotes from the risk factors in Item 3.D, one per theme (a partial selection). Full list: 20-F.
Who’s invested
Who owns more than 5%?
No Schedule 13G/13D holder above 5% in the loaded filings.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
Morgan Stanley10.4%
56.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Robeco Institutional Asset Management B.V.9.0%
49.0M shares · 13F filed Jul 21, 2026 · share of 13F-reported
Lazard Asset Management LLC6.3%
34.4M shares · 13F filed Aug 14, 2026 · share of 13F-reported
First Trust Advisors LP5.1%
28.0M shares · 13F filed Aug 11, 2026 · share of 13F-reported
GQG Partners LLC5.0%
27.0M shares · 13F filed Aug 12, 2026 · share of 13F-reported
432 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding.
Insiders, last 12 months (Form 4, open market)
0 purchases · 4 sales · $119M sold
Grants, gifts and tax withholding counted separately · window Oct 15, 2025 – Oct 15, 2026
All metrics
All metrics · 27 SEC metrics, FY2016–FY2025
Income statement 8
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | ||||||||||
| Gross profit | ||||||||||
| Income taxes | ||||||||||
| Interest expense | not reported | not reported | not reported | not reported | ||||||
| Net income | ||||||||||
| Operating income | ||||||||||
| Research and development | ||||||||||
| Revenue | ||||||||||
Balance sheet 6
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | not reported | |||||||||
| Current liabilities | not reported | |||||||||
| Equity | not reported | |||||||||
| Equity incl. NCI | ||||||||||
| Total assets | not reported | |||||||||
| Total liabilities & equity | not reported | |||||||||
Cash flow 5
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex | not reported | not reported | not reported | not reported | not reported | |||||
| Dividends | ||||||||||
| Free cash flow calc. | not reported | not reported | not reported | not reported | not reported | |||||
| Operating cash flow | ||||||||||
| Stock-based compensation | ||||||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | ||||||||||
| EPS diluted | ||||||||||
| Wtd. shares basic | ||||||||||
| Wtd. shares diluted | ||||||||||
Other 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| NCI income | not reported | not reported | not reported | |||||||
| Other income (incl. interest) calc. | ||||||||||
| Pretax income | ||||||||||
| Total liabilities | not reported | |||||||||
Method
extractive: verbatim sentences selected by rules from Item 4, 3.D and 5 of the 20-F; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values