Hexaware Technologies Limited (HEXT) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Hexaware Technologies Limited ₹607, price ₹490, upside +23.9%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Hexaware Technologies Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
19‑month range ₹399.45 – ₹867.43 · fair‑value band ₹363.20 – ₹785.87 · the ₹490.45 price screens below the ₹607.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 1, 2026.
Follow Hexaware Technologies in your weekly email
Every Wednesday you see whether Hexaware Technologies is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Hexaware Technologies Limited provides information technology consulting, software development, and business process services worldwide. The company operates through Travel and Transportation, Financial Services, Banking, Healthcare and Insurance, Hi-Tech Professional Services, and Manufacturing and Consumer segments.
Show more
Hexaware Technologies Limited provides information technology consulting, software development, and business process services worldwide. The company operates through Travel and Transportation, Financial Services, Banking, Healthcare and Insurance, Hi-Tech Professional Services, and Manufacturing and Consumer segments. It offers AI-native contact center, application services, cybersecurity, digital workplace, enterprise automation, generative AI, sustainability services, testing, vibe coding, and zero license services. The company also offers platforms, including Amaze, a platform that automates the cloud journey to support efficient digital transformation and modernization solutions; Tensai, uses AI and machine learning to drive intelligent automation for decisions and business processes; RapidX, an agentic AI platform that redefines software engineering by acting as an AI catalyst, enhancing human expertise with advanced intelligence; and Agentverse, an enterprise AI agent platform with ready-to-use agents. In addition, it offers business process, cloud, data and AI, digital IT operation, digital and software, and enterprise platform services. It serves banking, education and institutions, financial services, hi-tech, products and platforms, insurance, life sciences and healthcare, manufacturing, professional services, retail and consumer, telecom and utilities, transportation and logistics, and travel and hospitality industries. The company was formerly known as Aptech Limited and changed its name to Hexaware Technologies Limited in January 2001. The company was founded in 1990 and is based in Navi Mumbai, India. As of November 12, 2021, Hexaware Technologies Limited operates as a subsidiary of CA Magnum Holdings.
Stock analysis
Hexaware Technologies Limited (HEXT) currently trades at ₹490.45, while our model-based Fair Value estimate is ₹607.44, implying the stock looks roughly 19.3% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹747.52 per share, and 15 of the 26 models we run sit above the ₹490.45 price.
Bear case: the Asset-Based group reads lowest at ₹69.39, and 11 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹363.20 (bear) to ₹785.87 (bull), the price of ₹490.45 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hexaware Technologies Limited reported revenue of ₹134B in FY2025 versus ₹71.8B in FY2021, a compound +17.0%/yr. Reported net income was ₹13.7B in FY2025, compounding +16.3%/yr from FY2021.
Key figures
Market cap ₹301B (≈ $3.1B) · P/E ratio 22.5 · P/S ratio 2.29 · EPS (TTM) ₹21.81 · Dividend yield 2.9% · Net margin 10.2% · Return on equity 21.5% · Return on assets (EBIT) 17.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 44% fair-value upside, at 24%, HEXT screens richer than that median.
Fair Value models
Bear ₹363.20Fair Value ₹607.44Bull ₹785.87
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (₹5.70 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
Start year 2020 (pandemic). Over 10 years: +15.7% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.8%
Dividend (yield on the price)2.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.8% vs 5.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 13%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +8.8% a year for the price and +5.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (9 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Compare Hexaware Technologies Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 461 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Above median
Fair Value upside+23.9% · Above median
Profitability
Return on equity (TTM)21.5% · Top 25%
Return on assets11.8% · Top 25%
Net margin (TTM)9.3% · Top 25%
Operating margin (TTM)13.7% · Top 25%
Growth and dividend
Revenue growth17.9% · Above median
Dividend yield (TTM)2.9% · Above median
Valuation Multiplesvs Information Technology Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Hexaware Technologies Limited (HEXT) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹607.44 versus a price of ₹490.45, about +24% upside (undervalued).
What is the fair value of HEXT?
Our model-based fair value for Hexaware Technologies Limited is ₹607.44 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹490.45.
What is the quality score of HEXT?
Hexaware Technologies Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hexaware Technologies Limited (HEXT)?
Our model-based price target is the fair value of ₹607.44 (as of Oct 1, 2026) from 26 valuation models. Cautious scenario ₹363.20, optimistic scenario ₹785.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Hexaware Technologies Limited stock forecast for 2026?
Our models put fair value at ₹607.44, about +24% upside versus a price of ₹490.45 (undervalued). Cautious scenario ₹363.20, optimistic scenario ₹785.87. The calculation is refreshed regularly with new filings.
What is the revenue of Hexaware Technologies Limited (HEXT)?
Hexaware Technologies Limited reported trailing-twelve-month revenue of about ₹144B (latest available figure, as of Oct 1, 2026).
Does Hexaware Technologies Limited pay a dividend?
Hexaware Technologies Limited currently shows a dividend yield of about 2.91% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Hexaware Technologies Limited (HEXT)?
For today's price to be fair in a discounted-cash-flow model, Hexaware Technologies Limited would have to grow free cash flow by +13.3 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.5 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of HEXT use?
Our models discount Hexaware Technologies Limited at 12.4 %: a base by market capitalisation (mid), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hexaware Technologies Limited that is +13.3 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Hexaware Technologies Limited (HEXT) delivered so far?
Over the past 5 years revenue at Hexaware Technologies Limited grew +16.5 % a year. The price currently implies +13.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hexaware Technologies Limited (HEXT) growing?
The median revenue growth in the sector is +13.4 % a year. That is the yardstick for the growth priced into Hexaware Technologies Limited (+13.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hexaware Technologies Limited (HEXT)?
The free-cash-flow yield on the price is 5.29 %: that much free cash flow Hexaware Technologies Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hexaware Technologies Limited (HEXT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hexaware Technologies Limited it is ₹607.44 per share (as of Oct 1, 2026), against a price of ₹490.45. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hexaware Technologies Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, HEXT trades below its calculated fair value: price ₹490.45, fair value ₹607.44, a gap of about +24% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HEXT?
No. The price is what the market pays today (₹490.45); the fair value is what the company's own numbers justify (₹607.44). For Hexaware Technologies Limited the two are ₹116.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hexaware Technologies Limited worth?
The market values Hexaware Technologies Limited at about ₹301B (market capitalisation, as of Oct 1, 2026). Per share that is ₹490.45; our models calculate a fair value of ₹607.44 per share.
What do the bullish and bearish scenarios say about HEXT?
Our models span a range for Hexaware Technologies Limited: cautious scenario ₹363.20, base ₹607.44, optimistic ₹785.87 per share (as of Oct 1, 2026, price ₹490.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HEXT?
Hexaware Technologies Limited trades at a price-to-earnings ratio of 22.5 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹607.44 is built from several models across several years. Other multiples: P/B 4.8, P/S 2.1, EV/EBITDA 12.1.
How solid is the balance sheet of Hexaware Technologies Limited (HEXT)?
Balance-sheet figures for Hexaware Technologies Limited (as of Oct 1, 2026): return on equity 21.5%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is HEXT from its 52-week high?
Hexaware Technologies Limited trades at ₹490.45, about 37% below its 52-week high of ₹777.85 and 23% above the low of ₹399.45 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹607.44 is for.
Which stocks are comparable to Hexaware Technologies Limited?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hexaware Technologies Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹490.45, calculated fair value ₹607.44 (+24%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HEXT calculated?
We run Hexaware Technologies Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹607.44, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Hexaware Technologies Limited currently trades 19 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hexaware Technologies Limited (HEXT)?
The closing price on Oct 1, 2026 was ₹490.45. Our model-based fair value is ₹607.44, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hexaware Technologies Limited right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹363.20 to ₹785.87) leaves room in how you read the outcome.
Where does the earnings growth of Hexaware Technologies Limited (HEXT) come from?
Earnings per share at Hexaware Technologies Limited grew +5.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.5 %, EBIT margin −1.6 %, tax rate +0.2 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hexaware Technologies Limited
How large is the market capitalisation of Hexaware Technologies Limited (HEXT)?
The market capitalisation of Hexaware Technologies Limited is ₹301B (≈ $3.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hexaware Technologies Limited (HEXT)?
The price-to-sales ratio of Hexaware Technologies Limited is 2.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hexaware Technologies Limited (HEXT)?
Earnings per share at Hexaware Technologies Limited are ₹21.81 (price ÷ EPS = P/E 22.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hexaware Technologies Limited (HEXT)?
The dividend yield of Hexaware Technologies Limited is 2.9% (payout 65.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hexaware Technologies Limited (HEXT)?
The net margin of Hexaware Technologies Limited is 10.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hexaware Technologies Limited (HEXT)?
The return on equity (ROE) of Hexaware Technologies Limited is 21.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hexaware Technologies Limited (HEXT)?
On an EBIT basis the return on assets of Hexaware Technologies Limited is 17.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hexaware Technologies Limited (HEXT)?
The operating margin of Hexaware Technologies Limited is 13.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hexaware Technologies Limited (HEXT)?
Revenue at Hexaware Technologies Limited is growing +17.9% versus a year earlier (3y avg +13.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hexaware Technologies Limited (HEXT)?
Earnings per share at Hexaware Technologies Limited are growing −12.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hexaware Technologies Limited (HEXT) hold?
Hexaware Technologies Limited holds more cash than debt, ₹13.0B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Hexaware Technologies Limited in the live analysis
One click puts Hexaware Technologies Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
