Dr. Reddy's Laboratories Limited
RDYHealthcare|Drug Manufacturers - Specialty & Generic|IN
$14.91
+0.38 (+2.62%)
DCF Value
$14.42
Tangible Book / Share
$326.68
Graham Number
$591.75
Cash / Share
$91.49
Financials
Financial Snapshot
Market Cap
$12.42B
Enterprise Value
$1211.96B
Revenue (TTM)
$331.38B
Net Income (TTM)
$28.03B
Cash & Investments
$76.58B
Net Cash
$3.97B
Free Cash Flow (TTM)
$12.01B
Operating CF (TTM)
$30.11B
Debt/Equity
0.19
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $18.14B | $20.97B | $24.76B | $340.2M | $472.9M | $44.37B | $61.80B | $81.47B | $57.91B | $86.08B | $76.58B | |
| Operating Cash Flow | $21.51B | $18.03B | $28.70B | $29.84B | $35.70B | $28.11B | $58.88B | $45.43B | $46.43B | $56.65B | $30.11B | |
| Free Cash Flow | -$19.47B | $6.99B | $21.21B | $23.73B | $23.14B | $9.06B | $40.01B | $18.00B | $12.03B | $32.10B | $12.01B | |
| Capital Expenditure | -$40.98B | -$11.04B | -$7.49B | -$6.12B | -$12.56B | -$19.05B | -$18.87B | -$27.43B | -$34.40B | -$24.54B | -$18.10B | |
| Financing Cash Flow | -$3.69B | -$4.44B | -$21.33B | -$25.16B | -$298.0M | -$2.42B | -$26.86B | -$3.76B | $18.91B | $13.40B | $3.08B |
R&D Spending
R&D (TTM)
$22.73B
R&D Intensity
6.9%
R&D Growth vs Prior
-10.2%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $140.81B | $142.03B | $153.85B | $174.60B | $2.56B | $214.39B | $245.88B | $279.16B | $325.54B | $353.47B | $331.38B | |
| R&D Expense | $19.55B | $18.27B | $15.61B | $15.41B | $208.4M | $17.48B | $19.38B | $22.87B | $27.38B | $25.31B | $22.73B | |
| R&D % of Revenue | 13.9% | 12.9% | 10.1% | 8.8% | 8.2% | 8.2% | 7.9% | 8.2% | 8.4% | 7.2% | 6.9% | |
| SG&A | $46.37B | $46.91B | $48.89B | $0.00 | $659.9M | $62.08B | $68.03B | $77.20B | $93.87B | $112.34B | $112.14B |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $140.81B | $142.03B | $153.85B | $174.60B | $2.56B | $214.39B | $245.88B | $279.16B | $325.54B | $353.47B | $331.38B | |
| Cost of Revenue | $62.45B | $65.72B | $70.42B | $80.59B | $1.26B | $100.55B | $106.54B | $115.56B | $135.11B | $166.95B | $167.45B | |
| Gross Profit | $78.36B | $76.30B | $83.43B | $94.01B | $1.30B | $113.84B | $139.34B | $163.61B | $190.43B | $186.52B | $163.93B | |
| R&D | $19.55B | $18.27B | $15.61B | $15.41B | $208.4M | $17.48B | $19.38B | $22.87B | $27.38B | $25.31B | $22.73B | |
| SG&A | $46.37B | $46.91B | $48.89B | $0.00 | $659.9M | $62.08B | $68.03B | $77.20B | $93.87B | $112.34B | $112.14B | |
| Operating Income | $13.50B | $11.92B | $20.89B | $15.99B | $431.4M | $29.48B | $57.14B | $67.73B | $71.84B | $48.87B | $29.56B | |
| Interest Expense | $634.0M | $788.0M | $889.0M | $13.9M | $970.0M | $958.0M | $1.43B | $1.71B | $2.83B | $3.93B | $4.53B | |
| Pretax Income | $14.65B | $14.34B | $22.44B | $18.03B | $355.8M | $32.30B | $60.37B | $71.87B | $76.78B | $57.68B | $35.27B | |
| Net Income | $12.04B | $9.81B | $18.80B | $19.50B | $232.2M | $23.57B | $45.07B | $55.68B | $56.54B | $45.09B | $28.03B | |
| EPS (Diluted) | 72.09 | 59.01 | 113.09 | 117.40 | 20.73 | 28.34 | 54.17 | 66.80 | 67.77 | 53.92 | 34.00 | |
| EBITDA | $24.55B | $23.73B | $35.52B | $41.78B | $13.16B | $45.08B | $74.43B | $88.42B | $96.67B | $83.29B | $53.96B | |
| Shares Out. (M) | 834.99 | 830.93 | 830.98 | 830.41 | 831.58 | 831.69 | 831.91 | 833.54 | 834.30 | 833.26 | 833.33 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $18.14B | $2.64B | $2.23B | $27.1M | $202.8M | $14.85B | $5.78B | $7.11B | $14.65B | $15.06B | $13.35B | |
| Short-Term Investments | $0.00 | $18.33B | $22.53B | $313.1M | $270.0M | $29.51B | $56.02B | $74.36B | $43.25B | $71.01B | $63.22B | |
| Total Current Assets | $100.38B | $109.64B | $114.50B | $1.72B | $2.03B | $181.86B | $204.25B | $248.05B | $250.11B | $296.00B | $298.88B | |
| Total Assets | $219.82B | $225.60B | $225.43B | $3.07B | $3.63B | $292.83B | $321.85B | $387.52B | $492.99B | $567.88B | $577.00B | |
| Total Current Liabilities | $85.00B | $69.69B | $59.70B | $962.5M | $1.14B | $94.02B | $85.84B | $96.04B | $130.39B | $164.25B | $155.17B | |
| Long-Term Debt | $4.85B | $24.46B | $21.45B | $0.00 | $52.0M | $3.80B | $0.00 | $3.80B | $3.80B | $11.96B | $11.74B | |
| Total Liabilities | $95.78B | $99.14B | $85.23B | $1.02B | $1.26B | $102.30B | $90.86B | $106.97B | $155.82B | $194.95B | $185.92B | |
| Stockholders' Equity | $124.04B | $126.46B | $140.20B | $2.05B | $2.37B | $190.53B | $230.99B | $280.55B | $333.39B | $369.60B | $387.87B | |
| Retained Earnings | $108.22B | $113.86B | $128.65B | $1.91B | $2.13B | $175.71B | $215.59B | $265.26B | $315.79B | $345.02B | $360.58B |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.51B | $18.03B | $28.70B | $29.84B | $35.70B | $28.11B | $58.88B | $45.43B | $46.43B | $56.65B | $30.11B | |
| Capital Expenditure | -$40.98B | -$11.04B | -$7.49B | -$6.12B | -$12.56B | -$19.05B | -$18.87B | -$27.43B | -$34.40B | -$24.54B | -$18.10B | |
| Free Cash Flow | -$19.47B | $6.99B | $21.21B | $23.73B | $23.14B | $9.06B | $40.01B | $18.00B | $12.03B | $32.10B | $12.01B | |
| Investing Cash Flow | -$18.47B | -$14.88B | -$7.73B | -$4.92B | -$22.66B | -$26.39B | -$41.37B | -$40.28B | -$58.08B | -$70.53B | -$31.03B | |
| Financing Cash Flow | -$3.69B | -$4.44B | -$21.33B | -$25.16B | -$298.0M | -$2.42B | -$26.86B | -$3.76B | $18.91B | $13.40B | $3.08B | |
| Issuance of Stock | $1.0M | $1.0M | $0.00 | $4.0M | $269.0M | $334.0M | $368.0M | $805.0M | $193.0M | $417.7M | $426.5M | |
| Repurchase of Stock | -$15.69B | $0.00 | -$535.0M | -$474.0M | -$1.19B | $0.00 | $0.00 | $0.00 | -$1.39B | $0.00 | $0.00 | |
| Net Debt Issuance | -$5.22B | $882.0M | -$15.18B | -$19.16B | $6.09B | $2.73B | -$20.40B | $4.35B | $23.20B | $21.31B | $12.60B | |
| Stock Based Comp. | $398.0M | $454.0M | $389.0M | $521.0M | $584.0M | $592.0M | $397.0M | $407.0M | $424.0M | $0.00 | $117.0M | |
| Net Change in Cash | -$1.14B | -$1.24B | -$314.0M | -$266.0M | $12.86B | $32.0M | -$9.07B | $1.33B | $7.49B | -$875.8M | $2.29B |
Dilution Tracker
Shares Outstanding
833M
5-Year Share Growth
+0.2%
Stock Issuance (TTM)
$426.5M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 834.99 | 830.93 | 830.98 | 830.41 | 831.58 | 831.69 | 831.91 | 833.54 | 834.30 | 833.26 | 833.33 | |
| Change vs Prior % | — | -0.5% | 0.0% | -0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | -0.1% | 0.0% | |
| Stock Issuance | $1.0M | $1.0M | $0.00 | $4.0M | $269.0M | $334.0M | $368.0M | $805.0M | $193.0M | $417.7M | $426.5M | |
| Stock Repurchase | -$15.69B | $0.00 | -$535.0M | -$474.0M | -$1.19B | $0.00 | $0.00 | $0.00 | -$1.39B | $0.00 | $0.00 | |
| Stock Based Comp. | $398.0M | $454.0M | $389.0M | $521.0M | $584.0M | $592.0M | $397.0M | $407.0M | $424.0M | $0.00 | $117.0M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 55.6% | 53.7% | 54.2% | 53.8% | 50.8% | 53.1% | 56.7% | 58.6% | 58.5% | 52.8% | 49.5% | |
| Operating Margin % | 9.6% | 8.4% | 13.6% | 9.2% | 16.9% | 13.7% | 23.2% | 24.3% | 22.1% | 13.8% | 8.9% | |
| Net Margin % | 8.5% | 6.9% | 12.2% | 11.2% | 9.1% | 11.0% | 18.3% | 19.9% | 17.4% | 12.8% | 8.5% | |
| EBITDA Margin % | 17.4% | 16.7% | 23.1% | 23.9% | 514.9% | 21.0% | 30.3% | 31.7% | 29.7% | 23.6% | 16.3% | |
| FCF Margin % | -13.8% | 4.9% | 13.8% | 13.6% | 905.5% | 4.2% | 16.3% | 6.4% | 3.7% | 9.1% | 3.6% | |
| ROE % | 9.7% | 7.8% | 13.4% | 951.7% | 9.8% | 12.4% | 19.5% | 19.8% | 17.0% | 12.2% | 7.4% | |
| ROA % | 5.5% | 4.3% | 8.3% | 635.1% | 6.4% | 8.0% | 14.0% | 14.4% | 11.5% | 7.9% | 4.9% | |
| ROIC % | 6.2% | 4.5% | 9.6% | 671.3% | 10.0% | 9.5% | 17.2% | 17.2% | 13.3% | 8.1% | 4.8% | |
| R&D / Revenue % | 13.9% | 12.9% | 10.1% | 8.8% | 8.2% | 8.2% | 7.9% | 8.2% | 8.4% | 7.2% | 6.9% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -9.0% | 0.9% | 8.3% | 13.5% | -98.5% | 8288.8% | 14.7% | 13.5% | 16.6% | 8.6% | |
| Gross Profit | -15.1% | -2.6% | 9.3% | 12.7% | -98.6% | 8671.8% | 22.4% | 17.4% | 16.4% | -2.1% | |
| Operating Income | -54.4% | -11.7% | 75.3% | -23.4% | -97.3% | 6732.0% | 93.9% | 18.5% | 6.1% | -32.0% | |
| Net Income | -39.8% | -18.5% | 91.7% | 3.7% | -98.8% | 10049.5% | 91.2% | 23.6% | 1.5% | -20.3% | |
| EPS (Diluted) | -38.4% | -18.1% | 91.6% | 3.8% | -82.3% | 36.7% | 91.1% | 23.3% | 1.5% | -20.4% | |
| Operating Cash Flow | -47.8% | -16.2% | 59.2% | 4.0% | 19.6% | -21.3% | 109.5% | -22.8% | 2.2% | 22.0% | |
| Free Cash Flow | -173.8% | 135.9% | 203.7% | 11.8% | -2.5% | -60.9% | 341.6% | -55.0% | -33.2% | 166.8% | |
| R&D Expense | 9.6% | -6.6% | -14.6% | -1.3% | -98.6% | 8290.1% | 10.9% | 18.0% | 19.7% | -7.5% | |
| SG&A Expense | 1.5% | 1.2% | 4.2% | -100.0% | 0.0% | 9307.6% | 9.6% | 13.5% | 21.6% | 19.7% | |
| Total Assets | 5.9% | 2.6% | -0.1% | -98.6% | 18.3% | 7964.2% | 9.9% | 20.4% | 27.2% | 15.2% | |
| Book Value / Share | -1.1% | 2.4% | 10.8% | -98.5% | 15.5% | 7947.4% | 21.1% | 21.0% | 20.2% | 10.7% | |
| Debt | 46.8% | 3.1% | -24.3% | -99.2% | 41.9% | 8064.6% | -60.2% | 48.6% | 133.6% | 62.1% | |
| Diluted Shares | -2.4% | -0.5% | 0.0% | -0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | -0.1% |
Valuation
P/E (TTM)41.20
10Y Low / Med / High4.97 / 17.23 / 43.38
P/S3.50
10Y Low / Med / High2.49 / 3.08 / 292.64
P/B2.99
10Y Low / Med / High2.79 / 3.50 / 315.97
EV/EBITDA20.36
10Y Low / Med / High10.06 / 14.17 / 56.85
EV/Revenue3.67
10Y Low / Med / High2.82 / 3.27 / 292.72
P/FCF99.88
10Y Low / Med / High19.41 / 33.56 / 78.16
Intrinsic Value Models (per share)
DCF Value
$14.42
Tangible Book / Share
$326.68
Net Current Assets / Share
$135.02
Graham Number
$591.75
Graham Net-Net
$15.27
Cash / Share
$91.49
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 7.21 | 7.20 | 4.97 | 5.22 | 43.38 | 29.85 | 17.23 | 18.45 | 16.63 | 24.00 | 41.20 | |
| P/S Ratio | 3.08 | 2.49 | 3.04 | 2.91 | 292.64 | 3.28 | 3.16 | 3.68 | 2.89 | 3.05 | 3.50 | |
| P/B Ratio | 3.50 | 2.79 | 3.33 | 248.25 | 315.97 | 3.69 | 3.36 | 3.66 | 2.82 | 2.91 | 2.99 | |
| EV/EBITDA | 18.94 | 16.90 | 14.17 | 12.18 | 56.85 | 16.03 | 10.54 | 11.76 | 10.06 | 13.66 | 20.36 | |
| EV/Revenue | 3.30 | 2.82 | 3.27 | 2.91 | 292.72 | 3.37 | 3.19 | 3.73 | 2.99 | 3.22 | 3.67 |
Analyst Estimates & Quality
Altman Z-Score
5.70
Safe
Piotroski F-Score
5
Moderate
Forward Estimates (consensus)
| Metric | FY2027 | FY2028 | FY2029 |
|---|---|---|---|
| Revenue | $355.32B | $398.94B | $439.31B |
| Net Income | $36.58B | $49.25B | $61.51B |
| EPS | $43.90 | $59.10 | $73.81 |
| # Analysts (EPS) | 3 | 3 | 1 |
Dividends
Dividend/Share (TTM)
$8.00
Dividend Yield
0.58%
Frequency
Annual
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Jul 24, 2026 | Aug 5, 2026 | $0.08 | Annual |
| Jul 25, 2025 | Aug 6, 2025 | $0.09 | Annual |
| Jul 30, 2024 | Aug 12, 2024 | $0.48 | Annual |
| Jul 28, 2023 | Aug 11, 2023 | $0.48 | Monthly |
| Jul 7, 2023 | Aug 11, 2023 | $0.49 | Annual |
| Aug 1, 2022 | Aug 12, 2022 | $0.38 | Monthly |
| Jul 8, 2022 | Jul 11, 2022 | $0.39 | Annual |
| Jul 9, 2021 | Aug 11, 2021 | $0.34 | Annual |
| Jul 10, 2020 | Aug 17, 2020 | $0.33 | Annual |
| Jul 12, 2019 | Aug 15, 2019 | $0.28 | Annual |
| Jul 13, 2018 | Aug 9, 2018 | $0.29 | Annual |
| Jul 13, 2017 | Aug 10, 2017 | $0.31 | Annual |
| Jul 14, 2016 | Aug 9, 2016 | $0.30 | Annual |
| Jul 8, 2015 | Aug 17, 2015 | $0.31 | Annual |
| Aug 1, 2014 | Aug 15, 2014 | $0.29 | Monthly |
| Jul 10, 2013 | Aug 15, 2013 | $0.25 | Annual |
| Jun 27, 2012 | Aug 6, 2012 | $0.25 | Annual |
| Jun 29, 2011 | Aug 11, 2011 | $0.25 | Irregular |
| Jun 14, 2011 | Jun 23, 2011 | $0.66 | Annual |
| Jun 30, 2010 | Aug 17, 2010 | $0.24 | Annual |
Revenue Segments
By Geography
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| India Country | $36.25B | $43.99B | $50.50B | $48.47B | $55.83B | $64.54B |
| Others Countries Country | $60.95B | $68.96B | $67.47B | $72.83B | $94.40B | $118.72B |
| Russia Country | $15.82B | $20.88B | $21.23B | $22.30B | $25.96B | $34.79B |
| UNITED STATES | — | — | — | $135.56B | $149.35B | $117.89B |