Infosys Limited (INFY) Balance Sheet
INFY balance sheet, FY2026
March 31, 2026 · U.S. dollars$16.45B assets = $6.61B liabilities + $9.84B equity
Both columns are drawn to the same scale: what INFY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INFY financial health
Current ratio1.98
Comfortable · current assets cover current liabilities 1.98×
Debt / equity0.10
Low leverage · $0.10 of debt for each $1 of equity
Equity / assets59.5%
Equity-funded · of assets funded by shareholders
Cash / debt388.0%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles9.6%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
INFY balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $12.85BFY2017 | $16.45BFY2026 | +2.8%/yr | |
| Total liabilities | $2.22BFY2017 | $6.61BFY2026 | +12.9%/yr | |
| Shareholders’ equity | $10.64BFY2017 | $9.79BFY2026 | −0.9%/yr | |
| Cash & short-term investments | $5.03BFY2017 | $3.75BFY2026 | −3.2%/yr | |
| Total debt | $1.75BFY2017 | $967.0MFY2026 | −6.4%/yr | |
| Net cash (debt) | $3.28BFY2017 | $2.79BFY2026 | −$493.0M | |
| Working capital | $6.12BFY2017 | $5.40BFY2026 | −$725.0M | |
| Book value per share | $2.33FY2017 | $2.45FY2026 | +0.6%/yr | |
| Current ratio | 3.83FY2017 | 1.98FY2026 | −1.85 | |
| Debt / equity | 0.16FY2017 | 0.10FY2026 | −0.07 | |
| Shares outstanding | 4.57BFY2017 | 4.00BFY2026 | −1.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INFY assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
INFY liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
INFY debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INFY balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.75B | $4.51B | $3.35B | $2.36B | $3.23B | $3.75B | $3.08B | $3.79B | $4.02B | $5.03B |
| Cash & equivalents | $2.34B | $2.86B | $1.77B | $1.48B | $2.31B | $3.38B | $2.46B | $2.83B | $3.04B | $3.49B |
| Short-term investments | $1.41B | $1.65B | $1.57B | $878.0M | $924.0M | $371.0M | $615.0M | $958.0M | $982.0M | $1.54B |
| Receivables | $6.19B | $5.96B | $6.52B | $5.45B | $4.87B | $4.06B | $3.38B | $2.92B | $2.67B | $2.46B |
| Inventory | $0 | $1 | $43.0M | $25.0M | $25.0M | $19.0M | $709.0M | $462.0M | $966.0M | $365.0M |
| Other current assets | $966.0M | $894.0M | $810.0M | $794.0M | $746.0M | $475.0M | $38.0M | $474.0M | $14.0M | $428.0M |
| Total current assets | $10.91B | $11.36B | $10.72B | $8.63B | $8.87B | $8.31B | $7.21B | $7.64B | $7.67B | $8.28B |
| Property, plant & equipment (net) | $2.06B | $2.24B | $2.32B | $2.52B | $2.43B | $2.52B | $2.36B | $1.93B | $1.86B | $1.81B |
| Goodwill & intangible assets | $1.58B | $1.51B | $1.04B | $1.09B | $1.04B | $1.11B | $950.0M | $612.0M | $377.0M | $683.0M |
| Long-term investments | $1.04B | $1.43B | $1.54B | $1.53B | $1.87B | $1.62B | $600.0M | $670.0M | $883.0M | $995.0M |
| Other non-current assets | $858.0M | $895.3M | $898.0M | $1.54B | $1.35B | $1.26B | $1.14B | $1.40B | $1.46B | $1.09B |
| Total assets | $16.45B | $17.42B | $16.52B | $15.31B | $15.55B | $14.82B | $12.26B | $12.25B | $12.26B | $12.85B |
| Liabilities | ||||||||||
| Accounts payable | $500.0M | $487.0M | $474.0M | $470.0M | $547.0M | $364.0M | $377.0M | $255.0M | $127.0M | $91.0M |
| Short-term debt | $333.0M | $287.0M | $235.0M | $151.0M | $115.0M | $101.0M | $82.0M | $442.0M | $607.0M | $1.75B |
| Deferred revenue | $1.25B | $994.0M | $880.0M | $872.0M | $835.0M | $554.0M | $397.0M | $410.0M | $358.0M | $279.0M |
| Total current liabilities | $5.52B | $5.01B | $4.65B | $4.77B | $4.43B | $3.26B | $2.76B | $2.69B | $2.16B | $2.16B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $40.14B | $0 | $0 | $0 |
| Lease obligations | $967.0M | $962.0M | $1.00B | $859.0M | $722.0M | $627.0M | $612.0M | — | — | — |
| Other long-term liabilities | $1.09B | $1.15B | $1.27B | $1.32B | $1.13B | $1.06B | $0 | $159.0M | $131.0M | $56.0M |
| Total liabilities | $6.61B | $6.17B | $5.92B | $6.09B | $5.56B | $4.32B | $3.56B | $2.85B | $2.29B | $2.22B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $319.0M | $325.0M | $325.0M | $325.0M | $328.0M | $332.0M | $332.0M | $339.0M | $190.0M | $199.0M |
| Retained earnings (deficit) | $13.46B | $14.94B | $12.56B | $11.40B | $11.67B | $12.09B | $11.01B | $11.25B | $11.59B | $12.19B |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | $771.0M | −$4.56B | $1.62B | $1.37B | $1.17B | $910.0M | $592.0M | $387.0M | $244.0M | $6.0M |
| Minority interest | $54.0M | $50.0M | $46.0M | $52.0M | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $9.79B | $11.21B | $10.56B | $9.17B | $9.94B | $10.44B | $8.70B | $9.39B | $9.96B | $10.64B |
| Key figures | ||||||||||
| Total debt | $967.0M | $962.0M | $1.00B | $1.01B | $722.0M | $728.0M | $40.22B | $442.0M | $607.0M | $1.75B |
| Net cash (debt) | $2.79B | $3.55B | $2.35B | $1.35B | $2.51B | $3.02B | −$37.14B | $3.35B | $3.42B | $3.28B |
| Working capital | $5.40B | $6.35B | $6.07B | $3.86B | $4.43B | $5.04B | $4.46B | $4.95B | $5.51B | $6.12B |
| Tangible book value | $8.21B | $9.70B | $9.52B | $8.08B | $8.90B | $9.33B | $7.75B | $8.78B | $9.58B | $9.95B |
| Book value per share | $2.45 | $2.70 | $2.55 | $2.19 | $2.36 | $2.46 | $2.04 | $2.16 | $2.21 | $2.33 |
| Shares outstanding | 4.00B | 4.15B | 4.14B | 4.19B | 4.22B | 4.25B | 4.27B | 4.35B | 4.52B | 4.57B |
| Current ratio | 1.98 | 2.27 | 2.31 | 1.81 | 2.00 | 2.55 | 2.62 | 2.84 | 3.55 | 3.83 |
| Quick ratio | 1.80 | 2.09 | 2.12 | 1.64 | 1.83 | 2.39 | 2.34 | 2.49 | 3.09 | 3.47 |
| Debt / equity | 0.10 | 0.09 | 0.09 | 0.11 | 0.07 | 0.07 | 4.62 | 0.05 | 0.06 | 0.16 |
| Equity / assets | 59.5% | 64.3% | 63.9% | 59.9% | 63.9% | 70.4% | 71.0% | 76.6% | 81.3% | 82.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.12B | $3.75B | $2.98B | $5.02B | $4.09B | $4.67B | $3.69B | $3.49B | $3.02B | $3.43B | $2.60B | $2.91B |
| Cash & equivalents | $2.29B | $2.34B | $2.22B | $3.54B | $3.20B | $3.21B | $2.61B | $2.60B | $1.97B | $1.77B | $1.64B | $1.89B |
| Short-term investments | $837.0M | $1.41B | $768.9M | $1.48B | $887.0M | $1.46B | $1.08B | $887.0M | $1.05B | $1.66B | $958.0M | $1.01B |
| Receivables | $5.33B | $6.19B | $5.73B | $6.00B | $5.37B | $5.42B | $5.68B | $5.38B | $5.22B | $6.44B | $5.27B | $5.53B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $394.6M | $58.0M | $43.0M | $9.0M | $9.0M |
| Other current assets | $1.95B | $966.0M | $1.24B | $898.0M | $1.79B | $1.17B | $866.0M | $1.42B | $3.22B | $810.0M | $1.42B | $829.0M |
| Total current assets | $10.40B | $10.91B | $9.96B | $11.91B | $11.24B | $11.26B | $10.24B | $10.68B | $11.52B | $10.72B | $9.29B | $9.28B |
| Property, plant & equipment (net) | $2.07B | $2.06B | $2.13B | $2.17B | $2.22B | $2.24B | $2.18B | $2.28B | $2.28B | $2.32B | $2.38B | $2.42B |
| Goodwill & intangible assets | $2.04B | $1.58B | $1.64B | $1.65B | $1.67B | $1.51B | $1.51B | $1.60B | $1.06B | $1.04B | $1.07B | $1.06B |
| Long-term investments | $924.0M | $1.04B | $990.0M | $1.23B | $1.24B | $1.43B | $1.10B | $1.19B | $1.34B | $1.54B | $1.35B | $1.52B |
| Other non-current assets | $922.0M | $858.0M | $1.24B | $1.10B | $1.07B | $993.1M | $1.26B | $1.17B | $1.07B | $898.9M | $1.51B | $1.41B |
| Total assets | $16.36B | $16.45B | $15.95B | $18.06B | $17.45B | $17.42B | $16.29B | $16.93B | $17.27B | $16.52B | $15.61B | $15.69B |
| Liabilities | ||||||||||||
| Accounts payable | $463.0M | $500.0M | $536.9M | $432.0M | $422.0M | $487.2M | $429.0M | $458.0M | $443.0M | $474.0M | $460.0M | $388.0M |
| Short-term debt | $360.0M | $333.0M | $332.1M | $312.0M | $287.0M | $287.2M | $293.0M | $589.5M | $524.3M | $235.0M | $249.0M | $231.0M |
| Deferred revenue | $1.22B | $1.25B | $1.24B | $1.02B | $994.0M | $993.5M | $988.0M | $860.0M | $834.0M | $880.0M | $922.0M | $845.0M |
| Total current liabilities | $5.59B | $5.52B | $5.56B | $5.22B | $5.15B | $5.01B | $4.80B | $4.87B | $6.09B | $4.65B | $4.68B | $4.68B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $563.0M | $967.0M | $646.0M | $986.0M | $693.0M | $962.0M | $667.0M | $756.0M | $740.0M | $1.00B | $802.0M | $1.03B |
| Other long-term liabilities | $1.10B | $1.09B | $1.11B | $1.15B | $1.17B | $1.15B | $1.13B | $1.22B | $1.18B | $1.27B | $1.26B | $1.24B |
| Total liabilities | $6.68B | $6.61B | $6.67B | $6.38B | $6.33B | $6.17B | $5.93B | $6.09B | $7.27B | $5.92B | $5.94B | $5.92B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $213.9M | $319.0M | $225.2M | $325.0M | $241.8M | $242.5M | $325.0M | $247.3M | $325.0M | $325.0M | $325.0M | $325.0M |
| Retained earnings (deficit) | $8.18B | $13.46B | $7.63B | $14.66B | $9.33B | $9.20B | $14.10B | $8.85B | $13.56B | $12.56B | $13.21B | $13.37B |
| Accumulated other comprehensive income | $1.03B | $771.0M | $1.21B | $864.0M | $1.22B | $1.64B | −$4.62B | $1.46B | −$4.37B | $1.62B | −$4.33B | −$4.37B |
| Minority interest | $55.0M | $54.0M | $54.0M | $53.0M | $51.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $9.62B | $9.79B | $9.24B | $11.63B | $11.07B | $11.21B | $10.31B | $10.79B | $9.96B | $10.57B | $9.62B | $9.72B |
| Key figures | ||||||||||||
| Total debt | $923.0M | $967.0M | $978.6M | $986.0M | $693.0M | $962.5M | $960.0M | $756.0M | $740.0M | $1.00B | $1.05B | $1.03B |
| Net cash (debt) | $2.20B | $2.79B | $2.01B | $4.03B | $3.40B | $3.70B | $2.73B | $2.73B | $2.28B | $2.43B | $1.55B | $1.88B |
| Working capital | $4.82B | $5.40B | $4.40B | $6.69B | $6.09B | $6.25B | $5.43B | $5.81B | $5.43B | $6.07B | $4.61B | $4.60B |
| Tangible book value | $7.58B | $8.21B | $7.60B | $9.98B | $9.41B | $9.70B | $8.80B | $9.18B | $8.91B | $9.52B | $8.54B | $8.66B |
| Book value per share | $2.35 | $2.45 | $2.24 | $2.73 | $2.67 | $2.70 | $2.44 | $2.64 | $2.40 | $2.55 | $2.32 | $2.35 |
| Shares outstanding | 4.09B | 4.00B | 4.12B | 4.26B | 4.15B | 4.15B | 4.23B | 4.09B | 4.15B | 4.15B | 4.14B | 4.14B |
| Current ratio | 1.86 | 1.98 | 1.79 | 2.28 | 2.18 | 2.25 | 2.13 | 2.19 | 1.89 | 2.31 | 1.99 | 1.98 |
| Quick ratio | 1.51 | 1.80 | 1.57 | 2.11 | 1.83 | 2.01 | 1.95 | 1.82 | 1.35 | 2.12 | 1.68 | 1.80 |
| Debt / equity | 0.10 | 0.10 | 0.11 | 0.08 | 0.06 | 0.09 | 0.09 | 0.07 | 0.07 | 0.09 | 0.11 | 0.11 |
| Equity / assets | 58.8% | 59.5% | 57.9% | 64.4% | 63.5% | 64.3% | 63.3% | 63.7% | 57.7% | 63.9% | 61.6% | 62.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 15, 2026); data from EODHD.
INFY financial position
At the end of fiscal 2026 (March 31, 2026), Infosys had total assets of $16.4 billion (down 5.6% from a year earlier), total liabilities of $6.6 billion and shareholders' equity of $9.8 billion. It held $3.8 billion in cash and short-term investments against $967.0 million of debt, a net cash position of $2.8 billion. Its current ratio was 1.98. In the latest quarter (ended June 30, 2026) total assets were $16.4 billion and equity $9.6 billion.
Related: INFY income statement, INFY cash flow statement, INFY key metrics. See the INFY stock overview for the latest quote and news.
INFY balance sheet FAQ
What are Infosys's total assets?
Infosys reported total assets of $16.4 billion at the end of fiscal 2026 (March 31, 2026), compared with $17.4 billion a year earlier.
How much debt does Infosys have?
Infosys had $967.0 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.10.
How much cash does Infosys have?
Infosys held $3.8 billion in cash and short-term investments at the end of fiscal 2026; with $967.0 million of debt that is net cash of $2.8 billion.
What is Infosys's book value?
Infosys's shareholders' equity (book value) was $9.8 billion at the end of fiscal 2026, or $2.45 per share.
What is Infosys's current ratio?
Infosys had current assets of $10.9 billion and current liabilities of $5.5 billion, a current ratio of 1.98 (it can cover its short-term obligations).
How much goodwill does Infosys have?
Infosys carried $1.6 billion of goodwill and intangible assets, 9.6% of total assets, at the end of fiscal 2026.