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IT services · Technology
Globant reported revenue of $2.5B in the fiscal year ended Dec 2025, up 1.6% from the year before. Operating income was $172M, an operating margin of 7.0%, and net income was $104M. Operating cash flow of $301M less capital expenditure of $19M left free cash flow of $282M. Net debt was $123M.
Ranks among the 36 it services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,297 | 1,780 | 2,096 | 2,416 | 2,455 |
| Cost of revenue | 802 | 1,111 | 1,340 | 1,552 | 1,596 |
| Gross profit | 495 | 669 | 756 | 863 | 859 |
| Selling, general & admin | 343 | 456 | 537 | 633 | 629 |
| Operating income | 144 | 207 | 199 | 225 | 172 |
| Interest expense | 12.7 | 16.6 | 23.8 | 32.2 | 40.6 |
| Pre-tax income | 125 | 193 | 198 | 210 | 139 |
| Income tax | 28.5 | 43.4 | 39.5 | 41.4 | 35.2 |
| Net income | 96.4 | 149 | 159 | 169 | 104 |
| Diluted EPS | 2.28 | 3.47 | 3.64 | 3.72 | 2.29 |
| Diluted shares | 42.1 | 42.9 | 43.6 | 44.6 | 45.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 428 | 292 | 307 | 142 | 244 |
| Receivables | 300 | 425 | 499 | 605 | 578 |
| Current assets | 820 | 858 | 925 | 839 | 954 |
| Net PP&E | 133 | 162 | 163 | 155 | 137 |
| Goodwill | 567 | 735 | 1,105 | 1,483 | 1,602 |
| Total assets | 1,885 | 2,196 | 2,727 | 3,149 | 3,318 |
| Payables | 63.2 | 89.4 | 125 | 115 | 113 |
| Current liabilities | 386 | 429 | 665 | 507 | 580 |
| Short-term debt | 10.3 | 2.8 | 157 | 1.6 | 19.7 |
| Long-term debt | 1.9 | 0.9 | 2.2 | 291 | 347 |
| Total liabilities | 576 | 640 | 931 | 1,116 | 1,157 |
| Shareholders' equity | 1,305 | 1,508 | 1,730 | 1,964 | 2,094 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 179 | 198 | 319 | 249 | 301 |
| Capital expenditure | 42.8 | 47.1 | 45.1 | 27.7 | 19.2 |
| Free cash flow | 136 | 150 | 273 | 221 | 282 |
| Stock-based compensation | 37.0 | 60.3 | 72.9 | 81.8 | 75.7 |
| Acquisitions | 145 | 126 | 254 | 278 | 32.9 |
| Share buybacks | 7.3 | 9.3 | 11.5 | 10.7 | 56.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 37.3% | 17.7% | 15.3% | 1.6% |
| Operating income growth (YoY) | – | 43.1% | −3.7% | 13.3% | −23.8% |
| EPS growth (YoY) | – | 52.2% | 4.9% | 2.2% | −38.4% |
| Gross margin | 38.2% | 37.6% | 36.1% | 35.7% | 35.0% |
| Operating margin | 11.1% | 11.6% | 9.5% | 9.3% | 7.0% |
| Net margin | 7.4% | 8.4% | 7.6% | 7.0% | 4.2% |
| Return on equityBlank when equity is negative | 7.4% | 9.9% | 9.2% | 8.6% | 5.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.6% | 11.7% | 9.7% | 8.5% | 6.3% |
| Free cash flow margin | 10.5% | 8.5% | 13.0% | 9.1% | 11.5% |
| Cash conversion (CFO ÷ net income) | 1.86x | 1.32x | 2.01x | 1.47x | 2.90x |
| Receivable days | 84 | 87 | 87 | 91 | 86 |
| Payable days | 29 | 29 | 34 | 27 | 26 |
| Interest cover | 11.4x | 12.5x | 8.38x | 7.00x | 4.23x |
| Debt ÷ equity | 0.01x | 0.00x | 0.09x | 0.15x | 0.18x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −416 | −289 | −148 | 150 | 123 |
| Current ratio | 2.12x | 2.00x | 1.39x | 1.65x | 1.64x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.