G – Market expectations are for slight compression in Uniform ROA, but management is confident about their pipeline, TAM, and bookings

• Genpact Limited (G:USA) currently trades near corporate averages relative to Uniform Earnings, with a 20.9x Uniform P/E. At these levels, the market has somewhat bearish expectations for the firm, but management is confident about their supply chain and financial services pipeline, total addressable market, and their sole-source deal bookings
• Specifically, management is confident that their acquisitions have led to a fivefold increase in their pipeline for supply chain and financial crimes risk services, and that these services have massive total addressable markets. In addition, they are confident that sole-source deals remain approximately 50% of their bookings