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HCL TECHNOLOGIES
PE (Price/Earnings) Ratio

The Current P/E Ratio of HCL TECHNOLOGIES is 26.25.

Share Price ₹1,642.5Dec 19,2025
Market Cap ₹445,725.2 Cr
Earnings-TTM₹16,983.0 CrTTM-Consolidated Results
Price/Earnings26.25xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of HCL TECHNOLOGIES

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of HCL TECHNOLOGIES is calculated as :

Current Market Cap [ ₹445,725.2 Cr] as on Dec 19,2025

(/) Earnings [ ₹16,983.0 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 26.25x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for HCL TECHNOLOGIES , the investors are currently willing to pay 26.25 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of HCL TECHNOLOGIES !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of HCL TECHNOLOGIES over the last five years.

Historical PE (Price/Earnings) ratio chart of HCL TECHNOLOGIES


PE Ratio Performance Analysis for HCL TECHNOLOGIES

- HCL TECHNOLOGIES 's latest p/e ratio is 26.25x.

- HCL TECHNOLOGIES 's p/e ratio for fiscal years ending Mar2025 to Mar2021 averaged 23.75x.

- HCL TECHNOLOGIES 's operated at median p/e ratio of 23.96x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, HCL TECHNOLOGIES 's p/e ratio peaked in Mar2024 at 26.68x.

- HCL TECHNOLOGIES 's p/e ratio hit its five-year low in Mar2023 of 19.86x.


How does HCL TECHNOLOGIES 's P/E Ratio benchmark against top 10 peers in IT - Software Industry?

Peer Comparison (IT - Software Industry)Earnings-TTM (Cr)PE RatioMarket Cap
HCL TECHNOLOGIES 16,983.0026.25445,725.2
TATA CONSULTANCY SERVICES LTD49,687.0023.901,187,670.0
INFOSYS LTD28,159.0023.61664,796.0
WIPRO LTD13,503.9020.53277,216.0
TECH MAHINDRA LTD4,458.1035.45158,019.0
LTIMINDTREE LTD4,851.1037.87183,709.0
PERSISTENT SYSTEMS LTD1,665.1660.24100,313.0
ORACLE FINANCIAL SERVICES SOFTWARE LTD2,373.2028.6467,970.2
COFORGE LTD1,273.4048.5461,816.9
L&T TECHNOLOGY SERVICES LTD1,275.0037.5247,841.5
MPHASIS LTD1,787.0430.8355,101.5

IT - Software Industry Benchmark (Top 10) PE Analysis vs HCL TECHNOLOGIES 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE 20.53x
Max industry PE 60.24x
Median industry PE 30.83x
Average industry PE 33.94x



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