Alten Capital monitors the performance of public tech services companies.
Our active list includes the following names in each category (by enterprise value):
Digital Engineering: EPAM (EPAM), Globant (GLOB), CI&T (CINT), Endava (DAVA) and Grid Dynamics (GDYN)
Global IT Consulting: Accenture (ACN), Cognizant (CTSH), and Capgemini (CAP)
Offshore IT Services: Infosys (INFY), HCL (HCLT), Tata Consultancy Services (TCS), Wipro (WIT), and Persistent (PSYS)
Below are updated operational and valuation metrics for the group:
We look at valuation, growth, and profitability metrics. The size of each bubble in the chart below represents the respective enterprise value of each company.
Digital Engineering valuation relative to growth:
CI&T is expected to grow the fastest in 2026 (13%). EPAM has the highest revenue multiples among the group.
Digital Engineering valuation relative to profitability:
Globant is expected to show the highest projected EBITDA margin for 2026 (21%). Notably, Endava stands out as the least expensive from a profitability metric, while EPAM is the most expensive.
Global IT Consulting valuation relative to growth:
Cognizant is expected to grow the fastest in 2026 (8%). Accenture has the highest revenue multiples among its peers.
Global IT Consulting valuation relative to profitability:
Accenture is expected to show the highest projected EBITDA margin for 2026 (19%). Notably, Cognizant stands out as the least expensive from a profitability metric, while Accenture is the most expensive.
Offshore IT Services valuation relative to growth:
Persistent is expected to grow the fastest in 2026 (15%). Additionally, the company has the highest revenue multiples among its peer group.
Offshore IT Services valuation relative to profitability:
Infosys is expected to show the highest projected EBITDA margin for 2026 (24%). Notably, TCS stands out as the least expensive from a profitability metric, while Persistent is the most expensive.
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