Roche vs Wipro: Revenue, Profit and Business Model
Roche reported ~$76B of revenue in FY2025 and ~$15.5B of net income. Wipro reported ~$10.7B of revenue in FY2026 and ~$1.5B 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.
Wipro
In FY2026 Wipro reported gross revenue of Rs 926.2 billion and net income of Rs 132.0 billion. IT services revenue was about $10.48 billion, roughly level with the year before, and the IT services operating margin was 17.2%. Fourth-quarter gross revenue was Rs 242.4 billion, up 7.7% year over year, and quarterly net income was Rs 35.0 billion, down 1.9%. With the Q4 results in April 2026, the board approved a Rs 150 billion share buyback. In Q1 FY2027, gross revenue rose 10.6% year over year to Rs 244.8 billion. IT services revenue fell 1.4% sequentially to $2,614.5 million, and net income was Rs 33.6 billion ($354.6 million), up 0.6% year over year.
Revenue and profit by year
Roche
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$76B | ~$15.5B | 20.3% | +1.5% | Source |
| FY2024 | ~$74.9B | ~$9.9B | 13.3% | +3.2% | Source |
| FY2023 | ~$72.5B | ~$13.8B | 19.0% | -8.2% | Source |
| FY2022 | ~$79B | ~$14.9B | 18.9% | -0.1% | Source |
| FY2021 | ~$79B | ~$16.7B | 21.2% | — | Source |
Wipro
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$10.7B | ~$1.5B | 14.2% | +4.0% | Source |
| FY2025 | ~$10.3B | ~$1.5B | 14.7% | -0.7% | Source |
| FY2024 | ~$10.4B | ~$1.3B | 12.3% | -0.8% | Source |
| FY2023 | ~$10.5B | ~$1.3B | 12.5% | +14.4% | Source |
| FY2022 | ~$9.2B | ~$1.4B | 15.4% | +27.7% | Source |
| FY2021 | ~$7.2B | ~$1.3B | 17.4% | +1.5% | Source |
| FY2020 | ~$7.1B | ~$1.1B | 15.9% | +4.2% | Source |
| FY2019 | ~$6.8B | ~$1B | 15.4% | +7.5% | Source |
| FY2018 | ~$6.3B | ~$928.9M | 14.7% | -1.0% | Source |
| FY2017 | ~$6.4B | ~$984.8M | 15.4% | +7.4% | Source |
| FY2016 | ~$5.9B | ~$1B | 17.4% | — | Source |
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
Wipro
- IT Services~99%
Consulting, application, cloud, infrastructure, engineering, and business process services. This segment accounts for nearly all of Wipro's revenue.
- IT Products~1%
Resale of third-party hardware and software, mainly in India. The segment is small and has been shrinking.
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.
Wipro
How it makes money
Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work. Contracts are priced as time-and-materials, fixed-price, or managed-service deals.
Growth strategy
Under Srini Pallia, Wipro is focusing on large deals, consulting-led selling, AI-enabled delivery through its ai360 program, and growth in its biggest client accounts. In 2025 it agreed to acquire Harman's Digital Transformation Solutions unit to add engineering services capacity.
Competitive advantage
Wipro's strengths are long-standing client relationships, a large India delivery base, engineering services depth, Capco's position in financial services consulting, a net cash balance sheet, and stable Premji family control.
Questions about Roche vs Wipro
Which company has higher revenue — F. Hoffmann-La Roche AG or Wipro Limited?
F. Hoffmann-La Roche AG reported ~$76B (FY2025), while Wipro Limited reported ~$10.7B (FY2026). By last reported revenue, F. Hoffmann-La Roche AG is the larger business, with Wipro 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 Wipro Limited?
F. Hoffmann-La Roche AG's market capitalisation stands at $355.0B, while Wipro Limited's is $28.0B. F. Hoffmann-La Roche AG carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Wipro Limited.
Which is more financially efficient — F. Hoffmann-La Roche AG or Wipro Limited?
F. Hoffmann-La Roche AG generates $674k / employee in revenue per employee, while Wipro Limited generates $47k / 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 Wipro Limited make money?
F. Hoffmann-La Roche AG and Wipro Limited generate revenue in fundamentally different ways. F. Hoffmann-La Roche AG: Roche makes money in two ways. Wipro Limited: Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work.
Which company is valued higher relative to revenue — F. Hoffmann-La Roche AG or Wipro Limited?
On a price-to-sales (P/S) basis, F. Hoffmann-La Roche AG trades at 4.7x P/S and Wipro Limited at 2.6x 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 Wipro 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 Wipro Limited?
By last reported revenue, F. Hoffmann-La Roche AG (~$76B (FY2025)) is the larger company compared to Wipro Limited (~$10.7B (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 Wipro overview