Infosys (INFY) Operating Margin (2009 - 2026)
Infosys (INFY) posted Operating Margin of 21.09% for Q2 2026, up 0.77% on a QoQ basis from 20.93% in Q1 2026, and up 29.0% year-over-year from 16.35% in Q2 2025.
Analysis
Infosys (INFY) Operating Margin (2009 - 2026) Analysis & Trends
Infosys has reported Operating Margin for 18 years, with the latest figure at 21.09% in Q2 2026.
- On a quarterly basis, Operating Margin rose 29.0% year-over-year to 21.09% in Q2 2026; TTM through Jun 2026 was 20.34%, a 71.0% decrease from a year earlier, with the FY2026 full-year figure at 20.26%, down 85.0% from the prior year.
- Operating Margin was 21.09% for Q2 2026 at Infosys, up from 20.93% in the prior quarter.
- The five-year high for Operating Margin was 21.5% in Q1 2022, with the low at 18.38% in Q4 2025.
- Average Operating Margin over 5 years is 20.82%, with a median of 21.0% recorded in 2025.
- The sharpest annual moves came in 2022 and 2025: Operating Margin slumped 371 bps in 2022, then jumped 88 bps in 2025.
- Over 5 years, Operating Margin stood at 21.49% in 2022, then decreased by 5 bps to 20.5% in 2023, then climbed by 4 bps to 21.32% in 2024, then decreased by 14 bps to 18.38% in 2025, then advanced by 15 bps to 21.09% in 2026.
- The last three Operating Margin figures came in at 21.09% (Q2 2026), 20.93% (Q1 2026), and 18.38% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 44.97 Bn | 44.97 Bn | 1.60 Bn | 21.09% |
| 2 | Cognizant Technology Solutions | 27.17 Bn | 26.12 Bn | 1.83 Bn | 15.95% |
| 3 | Cgi | 15.39 Bn | 14.81 Bn | - | - |
| 4 | EPAM Systems | 5.98 Bn | 5.19 Bn | 429.57 Mn | 10.76% |
| 5 | Science Applications International | 5.46 Bn | 5.34 Bn | 239.00 Mn | 8.09% |
| 6 | ExlService Holdings | 5.28 Bn | 5.00 Bn | 225.96 Mn | 14.68% |
| 7 | Kyndryl Holdings | 2.79 Bn | 680.69 Mn | 776.00 Mn | 4.04% |
| 8 | Formula Systems (1985) | 1.98 Bn | 1.56 Bn | 158.43 Mn | 0.00% |
| 9 | DXC Technology | 1.80 Bn | -204.47 Mn | 611.00 Mn | -71.59% |
| 10 | Innodata | 1.78 Bn | 1.53 Bn | 42.46 Mn | 17.21% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.09% |
| Mar 31, 2026 | 20.93% |
| Dec 31, 2025 | 18.38% |
| Sep 30, 2025 | 20.98% |
| Jun 30, 2025 | 20.81% |
| Mar 31, 2025 | 20.97% |
| Dec 31, 2024 | 21.32% |
| Sep 30, 2024 | 21.11% |
| Jun 30, 2024 | 21.09% |
| Mar 31, 2024 | 20.09% |
| Dec 31, 2023 | 20.50% |
| Sep 30, 2023 | 21.20% |
| Jun 30, 2023 | 20.81% |
| Mar 31, 2023 | 21.01% |
| Dec 31, 2022 | 21.49% |
| Sep 30, 2022 | 21.49% |
| Jun 30, 2022 | 19.98% |
| Mar 31, 2022 | 21.50% |
| Dec 31, 2021 | 23.48% |
| Sep 30, 2021 | 23.54% |