` Comparison: HCLTECH vs TECHM - Alpha Spread
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HCLTECH
vs
TECHM

Over the past 12 months, HCLTECH has underperformed TECHM, delivering a return of -15% compared to the TECHM's 8% drop.

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HCLTECH
TECHM
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Stocks Compared:
HCLTECH TECHM
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Valuation Comparison

HCLTECH Intrinsic Value
1 287.43 INR
Overvaluation 11%
Intrinsic Value
Price
TECHM Intrinsic Value
1 195.44 INR
Overvaluation 22%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
HCL Technologies Ltd
NSE:HCLTECH
1 454.1 INR
Tech Mahindra Ltd
NSE:TECHM
1 531.8 INR
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Valuation Scenario:
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Growth Comparison

Growth Over Time
HCLTECH, TECHM

HCLTECH
TECHM
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
HCL Technologies Ltd
Revenue
Tech Mahindra Ltd
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
HCLTECH, TECHM

HCLTECH
TECHM
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
HCL Technologies Ltd
NSE:HCLTECH
Tech Mahindra Ltd
NSE:TECHM
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What is Free Cash Flow?

Gross Margin

HCLTECH
84.4%
TECHM
89.8%

Operating Margin

HCLTECH
17.5%
TECHM
11.7%

Net Margin

HCLTECH
13%
TECHM
8.4%

FCF Margin

HCLTECH
16.8%
TECHM
10.5%

ROE

HCLTECH
23.5%
TECHM
17.1%

ROA

HCLTECH
15.8%
TECHM
10.4%

ROIC

HCLTECH
23.2%
TECHM
14.4%

ROCE

HCLTECH
28.1%
TECHM
20.6%

Solvency Comparison

HCL Technologies Ltd
Equity Waterfall
Assets
Liabilities
Equity
What is Equity Waterfall?
Tech Mahindra Ltd
Equity Waterfall
Assets
Liabilities
Equity
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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
HCLTECH, TECHM

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TECHM
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1Y 3Y 5Y 10Y 15Y 20Y
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Performance Gap
HCLTECH, TECHM

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HCLTECH
TECHM
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
HCLTECH, TECHM

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HCLTECH
TECHM
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