Roche vs TCS: Revenue, Profit and Business Model
Roche reported ~$76B of revenue in FY2025 and ~$15.5B of net income. TCS reported ~$31B of revenue in FY2026 and ~$5.7B of net income.
Latest financial snapshot
Financial summary
Roche
Roche's 2025 group sales were ~$73.8 billion (CHF 61.5 billion), up 7% at constant exchange rates but only 2% in Swiss francs. Core operating profit grew 13% CER to ~$26.2 billion (CHF 21.8 billion), core EPS was CHF 19.46, and IFRS net income jumped to ~$16.6 billion (CHF 13.8 billion) from ~$11 billion (CHF 9.2 billion) in 2024, when impairments depressed profit. In H1 2026 core operating margin widened 1.7 points to 39.0%, while a strong franc pushed reported sales down 2%. The board raised the dividend to CHF 9.80, the 39th consecutive increase, and guided for mid-single-digit CER sales growth and high-single-digit core EPS growth in 2026.
TCS
TCS reported FY2026 revenue of ₹2,67,021 crore ($30.017 billion), up 4.6% in rupees but down about 0.5% in dollars, with net income of about $5.71 billion (₹49,210 crore) and a 19.8% net margin. Q1 FY2027 revenue was ₹72,275 crore ($7.624 billion), up 13.9% in rupees and 2.7% in dollars year over year, with an operating margin of about 24% and net profit of ~$1.55 billion (₹13,349 crore). The growth story now rests on AI: TCS put its annualized AI services revenue at $1.8 billion in Q3 FY2026 and $2.6 billion in Q1 FY2027, while total contract value held at $9.5 billion for the quarter.
Revenue and profit by year
Where the revenue comes from
Roche
- Prescription medicines
- Biologics and oncology drugs
- Diagnostic instruments
- Diagnostic reagents and tests
- Sequencing and molecular diagnostics
- Clinical data and companion diagnostics
TCS
- IT services
Primary revenue source
Application development, maintenance, modernization and managed technology services.
- Consulting and transformation
Strategic growth stream
Business and technology transformation programs for large enterprises.
- Cloud, AI and cybersecurity
Fast-changing growth area
Cloud migration, AI, data, automation, cybersecurity and platform simplification.
- Business process services
Recurring enterprise stream
Technology-enabled operations and business process services.
- Platforms
Differentiated platform stream
Industry platforms such as TCS BaNCS and related software-led offerings.
Business model and strategy
Roche
How it makes money
Roche makes money in two ways. The Pharmaceuticals Division (~$57.2 billion (CHF 47.7 billion) in 2025) sells patented medicines, mostly biologics, in oncology, neuroscience, immunology, ophthalmology and haemophilia; top growth drivers in 2025 were Phesgo, Xolair, Ocrevus, Hemlibra and Vabysmo.
Growth strategy
Roche is building a cardiovascular, renal and metabolic franchise through acquisitions of Carmot Therapeutics (2023, $2.7 billion upfront) and 89bio (2025, up to about $3.5 billion), the petrelintide partnership with Zealand Pharma, and a new Innovation Center in Boston opened in September 2026.
Competitive advantage
Roche's edge comes from three things: scale in both drugs and diagnostics, a long-horizon ownership structure, and a federated R&D model. The Hoffmann and Oeri family pool holds the majority of voting shares, which shields management from takeover pressure.
TCS
How it makes money
TCS earns revenue through global IT services and consulting, built around eight industry verticals and geographic diversification.
Growth strategy
TCS is growing through AI, cloud modernization, cybersecurity, data, engineering services, platforms, large transformation deals, partnerships and deeper penetration of existing enterprise accounts.
Competitive advantage
TCS' advantage is delivery scale, Tata trust, large-account depth, industry domain expertise, training infrastructure, strong margins and a reputation for mission-critical execution.
Questions about Roche vs TCS
Which company has higher revenue — F. Hoffmann-La Roche AG or Tata Consultancy Services Limited?
F. Hoffmann-La Roche AG reported ~$76B (FY2025), while Tata Consultancy Services Limited reported ~$31B (FY2026). By last reported revenue, F. Hoffmann-La Roche AG is the larger business, with Tata Consultancy Services Limited reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of F. Hoffmann-La Roche AG vs Tata Consultancy Services Limited?
F. Hoffmann-La Roche AG's market capitalisation stands at $355.0B, while Tata Consultancy Services Limited's is $84.0B. F. Hoffmann-La Roche AG carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Tata Consultancy Services Limited.
Which is more financially efficient — F. Hoffmann-La Roche AG or Tata Consultancy Services Limited?
F. Hoffmann-La Roche AG generates $674k / employee in revenue per employee, while Tata Consultancy Services Limited generates $52k / employee. F. Hoffmann-La Roche AG shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do F. Hoffmann-La Roche AG and Tata Consultancy Services Limited make money?
F. Hoffmann-La Roche AG and Tata Consultancy Services Limited generate revenue in fundamentally different ways. F. Hoffmann-La Roche AG: Roche makes money in two ways. Tata Consultancy Services Limited: TCS earns revenue through global IT services and consulting, built around eight industry verticals and geographic diversification.
Which company is valued higher relative to revenue — F. Hoffmann-La Roche AG or Tata Consultancy Services Limited?
On a price-to-sales (P/S) basis, F. Hoffmann-La Roche AG trades at 4.7x P/S and Tata Consultancy Services Limited at 2.7x P/S. F. Hoffmann-La Roche AG commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Tata Consultancy Services Limited. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is F. Hoffmann-La Roche AG bigger than Tata Consultancy Services Limited?
By last reported revenue, F. Hoffmann-La Roche AG (~$76B (FY2025)) is the larger company compared to Tata Consultancy Services Limited (~$31B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Roche vs TCS overview