Home > Comparison > Technology > G vs BBAI
The strategic rivalry between Genpact Limited and BigBear.ai Holdings defines the technology sector’s evolution. Genpact operates as a global, capital-intensive IT services leader specializing in business process outsourcing. In contrast, BigBear.ai is a high-growth, niche provider of AI-driven analytics and cybersecurity consulting. This analysis pits steady scale against innovative agility to determine which path delivers superior risk-adjusted returns for a diversified portfolio in 2026.
Table of contents
Companies Overview
Genpact Limited and BigBear.ai Holdings, Inc. represent distinct pillars in the evolving information technology services landscape.
Genpact Limited: Leader in Business Process Outsourcing
Genpact Limited dominates business process outsourcing and IT services across multiple industries including banking, healthcare, and manufacturing. Its core revenue stems from comprehensive finance, accounting, supply chain, and transformation services. In 2026, Genpact emphasizes ESG advisory, digital solutions, and analytics to enhance client operational efficiency and sustainability credentials.
BigBear.ai Holdings, Inc.: AI-Driven Decision Support Innovator
BigBear.ai Holdings specializes in artificial intelligence and machine learning to empower real-time decision-making. It generates revenue through cybersecurity, cloud engineering, and advanced analytics services split across Cyber & Engineering and Analytics segments. The company’s 2026 focus lies in expanding predictive and prescriptive analytics to support dynamic enterprise IT and security needs.
Strategic Collision: Similarities & Divergences
Genpact pursues a broad, multi-industry outsourcing model, while BigBear.ai concentrates on niche AI-driven, high-tech consulting. They compete primarily in digital transformation and analytics but serve different client scopes. Genpact’s scale contrasts with BigBear.ai’s specialized agility, defining divergent risk-reward profiles for investors monitoring technology service evolution.
Income Statement Comparison
This data dissects the core profitability and scalability of both corporate engines to reveal who dominates the bottom line:
| Metric | Genpact Limited (G) | BigBear.ai Holdings, Inc. (BBAI) |
|---|---|---|
| Revenue | 5.08B | 158M |
| Cost of Revenue | 3.25B | 113M |
| Operating Expenses | 1.05B | 179M |
| Gross Profit | 1.83B | 45M |
| EBITDA | 875M | -258M |
| EBIT | 780M | -270M |
| Interest Expense | 50M | 26M |
| Net Income | 552M | -296M |
| EPS | 3.18 | -1.27 |
| Fiscal Year | 2025 | 2024 |
Income Statement Analysis: The Bottom-Line Duel
This income statement comparison will uncover which company operates with greater financial efficiency and sustainable profitability.
Genpact Limited Analysis
Genpact’s revenue climbed steadily from 4.0B in 2021 to 5.1B in 2025, reflecting a robust 26.3% growth over five years. Net income surged 49.6% to 552M in 2025, showing a healthy margin expansion with a gross margin of 36% and a net margin near 11%. Its consistent margin improvement signals disciplined cost control and operational efficiency.
BigBear.ai Holdings, Inc. Analysis
BigBear.ai’s revenue rose modestly from 91M in 2020 to 158M in 2024, a 73% increase, but it remains unprofitable with a net loss of 296M in 2024. Despite a gross margin of 29%, the company posts a deeply negative EBIT margin of -171%, burdened by high operating and interest expenses. This signals ongoing operational challenges and significant cash burn.
Margin Strength vs. Growth Struggles
Genpact clearly outperforms BigBear.ai with solid profitability and margin expansion. While BigBear.ai shows top-line growth, its steep losses and negative margins mark a risky profile. For investors prioritizing financial stability and efficient earnings, Genpact’s proven operating discipline offers a more compelling fundamental foundation.
Financial Ratios Comparison
These vital ratios act as a diagnostic tool to expose the underlying fiscal health, valuation premiums, and capital efficiency of the companies compared below:
| Ratios | Genpact Limited (G) | BigBear.ai Holdings (BBAI) |
|---|---|---|
| ROE | 21.7% | 79.6% |
| ROIC | 12.3% | -93.4% |
| P/E | 14.7 | -3.52 |
| P/B | 3.19 | -279.9 |
| Current Ratio | 1.66 | 0.46 |
| Quick Ratio | 1.66 | 0.46 |
| D/E | 0.23 | -39.4 |
| Debt-to-Assets | 9.9% | 42.6% |
| Interest Coverage | 15.3 | -5.20 |
| Asset Turnover | 0.87 | 0.46 |
| Fixed Asset Turnover | 13.6 | 14.6 |
| Payout Ratio | 21.3% | 0% |
| Dividend Yield | 1.45% | 0% |
| Fiscal Year | 2025 | 2024 |
Efficiency & Valuation Duel: The Vital Signs
Financial ratios act as a company’s DNA, revealing hidden risks and operational excellence beyond surface-level numbers.
Genpact Limited
Genpact demonstrates strong profitability with a 21.7% ROE and a solid 10.9% net margin. Its P/E of 14.7 suggests the stock is reasonably priced, not stretched. The company maintains a balanced capital structure and returns 1.45% in dividends, signaling steady shareholder value alongside efficient operations.
BigBear.ai Holdings, Inc.
BigBear.ai shows volatile metrics with an extreme 7,958% ROE, skewed by losses and negative margins. Its valuation ratios are distorted, with a negative P/E and low current ratio of 0.46, signaling liquidity stress. The company pays no dividends, focusing on R&D and growth, but faces significant operational and financial challenges.
Balanced Profitability vs. High Risk Growth
Genpact offers a stable, favorable ratio profile with disciplined capital allocation and reasonable valuation. BigBear.ai presents high risk with inconsistent profitability and liquidity concerns. Investors seeking operational safety and steady returns may prefer Genpact, while those targeting speculative growth face elevated risk with BigBear.ai.
Which one offers the Superior Shareholder Reward?
Genpact Limited (G) delivers a superior shareholder reward compared to BigBear.ai Holdings, Inc. (BBAI). Genpact pays a modest 1.45% dividend yield with a sustainable 21% payout ratio supported by strong free cash flow (4.2/share). It couples dividends with steady buybacks, enhancing total shareholder return. Conversely, BigBear.ai does not pay dividends and posts steep losses, negative operating margins, and no free cash flow. Its balance sheet shows weak liquidity (current ratio 0.46) and high debt, undermining buyback potential. Genpact’s balanced, cash-generative distribution strategy offers more durable value creation in 2026. I favor Genpact for a reliable total return profile.
Comparative Score Analysis: The Strategic Profile
The radar chart reveals the fundamental DNA and trade-offs of Genpact Limited and BigBear.ai Holdings, Inc.:
Genpact shows a balanced profile with very favorable DCF (5) and solid ROE (4) and ROA (4) scores. However, its debt-to-equity (2) and price-to-book (2) scores flag moderate financial leverage risks. BigBear.ai relies heavily on moderate debt management (3) but scores poorly on profitability and valuation metrics, with very unfavorable DCF (1), ROE (1), ROA (1), and P/E (1). Genpact clearly dominates with a more stable and diversified financial structure.
Bankruptcy Risk: Solvency Showdown
Genpact’s Altman Z-Score of 3.09 places it safely above the distress line, while BigBear.ai’s 1.83 teeters in the grey zone, signaling moderate bankruptcy risk under current market stress:
Financial Health: Quality of Operations
Genpact’s Piotroski F-Score of 8 indicates robust financial health and operational quality. In contrast, BigBear.ai’s score of 3 raises red flags about its internal metrics and sustainability:
How are the two companies positioned?
This section dissects the operational DNA of Genpact and BigBear.ai by comparing their revenue distribution and internal dynamics. The goal is to confront their economic moats to reveal which model offers the most resilient, sustainable competitive advantage today.
Revenue Segmentation: The Strategic Mix
This visual comparison dissects how Genpact Limited and BigBear.ai Holdings diversify their income streams and where their primary sector bets lie:
Genpact reveals a concentrated strategy in Consumer And Healthcare with $1.69B in 2024, showing less diversification recently. BigBear.ai, with $158M in a single Reportable Segment, lacks clear diversification data. Genpact’s focus anchors its ecosystem lock-in in healthcare services, while BigBear.ai’s narrow segment poses concentration risk, limiting resilience against sector volatility. The contrast highlights Genpact’s scale advantage and BigBear.ai’s emerging portfolio.
Strengths and Weaknesses Comparison
This table compares the Strengths and Weaknesses of Genpact Limited and BigBear.ai Holdings, Inc.:
Genpact Limited Strengths
- Strong profitability with 10.88% net margin
- Favorable ROE at 21.67% and ROIC at 12.32%
- Low debt-to-assets at 9.91%
- Solid current and quick ratios at 1.66
- Diverse revenue streams across multiple sectors and geographies
- Favorable fixed asset turnover at 13.65
BigBear.ai Holdings, Inc. Strengths
- Extremely high ROE at 7957.65%
- Favorable P/E and P/B ratios despite losses
- Favorable fixed asset turnover at 14.61
- Some debt metrics favorable despite overall leverage
- Operating in advanced analytics and cyber segments
Genpact Limited Weaknesses
- Unfavorable high P/B ratio at 3.19
- Neutral asset turnover at 0.87
- Dividend yield only neutral at 1.45%
- Heavy reliance on India for revenue
- Some revenue segments show negative results
BigBear.ai Holdings, Inc. Weaknesses
- Negative net margin at -186.78%
- Negative ROIC at -93.42%
- High WACC at 18.34% indicating expensive capital
- Low current and quick ratios at 0.46
- Negative interest coverage ratio at -10.53
- High debt-to-assets at 42.59%
- Zero dividend yield
Genpact Limited exhibits strong financial health and diversified revenue sources but faces valuation and geographic concentration risks. BigBear.ai shows potential in equity returns and asset efficiency but struggles with profitability, liquidity, and capital cost challenges.
The Moat Duel: Analyzing Competitive Defensibility
A structural moat is the only reliable shield protecting long-term profits from relentless competition erosion. Let’s dissect the core moats of two IT services firms:
Genpact Limited: Scale and Process Excellence Moat
Genpact’s moat stems from its extensive global delivery network and deep process expertise. This manifests in a very favorable ROIC above WACC by 5.1%, with growing profitability through 2025. Its diversified service segments and geographic reach, especially in India, strengthen this moat. Emerging digital transformation services could further deepen its competitive edge.
BigBear.ai Holdings, Inc.: Innovation and Niche AI Moat
BigBear.ai relies on specialized AI and machine learning capabilities, contrasting Genpact’s scale. However, it suffers from a severely negative ROIC, shedding value with declining profitability. This signals a fragile competitive position despite high innovation potential. Its focus on cyber and analytics offers expansion opportunities but also faces market disruption risks.
Scale and Efficiency vs. Innovation Fragility
Genpact’s wide moat, built on scalable operations and sustained profitability, clearly outmatches BigBear.ai’s narrow, volatile moat. Genpact is better equipped to defend and grow its market share amid competitive pressures. BigBear.ai needs to improve capital efficiency to translate innovation into lasting value.
Which stock offers better returns?
Over the past year, Genpact Limited and BigBear.ai Holdings, Inc. displayed strong gains with recent trading showing a downturn in both stocks.
Trend Comparison
Genpact Limited’s stock rose 21.95% over the last 12 months, marking a bullish trend with decelerating momentum. It peaked at 55.05 and bottomed at 30.9, showing moderate volatility (6.04 std deviation).
BigBear.ai Holdings, Inc. surged 93.44% over the same period, also bullish but with deceleration. The stock ranged from 1.21 to 9.02, exhibiting lower volatility (2.19 std deviation) compared to Genpact.
BigBear.ai outperformed Genpact significantly in market gains, despite both stocks showing recent declines and seller-dominant volume trends.
Target Prices
Analysts present a clear target consensus for Genpact Limited and BigBear.ai Holdings, Inc.
| Company | Target Low | Target High | Consensus |
|---|---|---|---|
| Genpact Limited | 42 | 50 | 46 |
| BigBear.ai Holdings, Inc. | 6 | 6 | 6 |
Genpact’s target consensus at 46 suggests a moderate upside from the current 40.39 price. BigBear.ai’s consensus of 6 implies a potential 27% gain from its 4.72 price.
Don’t Let Luck Decide Your Entry Point
Optimize your entry points with our advanced ProRealTime indicators. You’ll get efficient buy signals with precise price targets for maximum performance. Start outperforming now!
How do institutions grade them?
Genpact Limited Grades
Here are the recent grades assigned to Genpact Limited by leading institutions:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Needham | Maintain | Buy | 2026-02-06 |
| JP Morgan | Maintain | Neutral | 2025-08-20 |
| Needham | Maintain | Buy | 2025-08-08 |
| Mizuho | Maintain | Neutral | 2025-07-01 |
| Needham | Maintain | Buy | 2025-06-30 |
| TD Cowen | Maintain | Buy | 2025-06-27 |
| Baird | Maintain | Neutral | 2025-05-08 |
| Needham | Maintain | Buy | 2025-05-08 |
| Mizuho | Maintain | Neutral | 2025-02-10 |
| Needham | Maintain | Buy | 2025-02-07 |
BigBear.ai Holdings, Inc. Grades
Below are the recent grades issued for BigBear.ai Holdings, Inc. by recognized grading firms:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Cantor Fitzgerald | Downgrade | Neutral | 2026-01-07 |
| HC Wainwright & Co. | Maintain | Buy | 2025-11-11 |
| HC Wainwright & Co. | Maintain | Buy | 2025-08-12 |
| HC Wainwright & Co. | Maintain | Buy | 2025-07-01 |
| HC Wainwright & Co. | Maintain | Buy | 2025-03-07 |
| Cantor Fitzgerald | Maintain | Overweight | 2025-03-07 |
| HC Wainwright & Co. | Maintain | Buy | 2024-12-30 |
| HC Wainwright & Co. | Maintain | Buy | 2024-11-06 |
| HC Wainwright & Co. | Maintain | Buy | 2024-10-15 |
| Cantor Fitzgerald | Maintain | Overweight | 2024-08-21 |
Which company has the best grades?
Genpact Limited consistently receives Buy and Neutral grades, showing steady institutional confidence. BigBear.ai has mostly Buy and Overweight ratings but faced a recent downgrade to Neutral. Investors may interpret Genpact’s stable Buy ratings as lower volatility in sentiment, while BigBear.ai’s mixed grades might signal higher uncertainty.
Risks specific to each company
The following categories identify the critical pressure points and systemic threats facing both firms in the 2026 market environment:
1. Market & Competition
Genpact Limited
- Well-established with diversified services in IT and BPO, facing moderate competition in mature markets.
BigBear.ai Holdings, Inc.
- Niche AI and analytics player, competing in a rapidly evolving, high-volatility sector with aggressive startups and incumbents.
2. Capital Structure & Debt
Genpact Limited
- Conservative leverage with debt-to-assets at 9.9%, strong interest coverage of 15.7x, signaling financial stability.
BigBear.ai Holdings, Inc.
- Higher leverage, debt-to-assets at 42.6%, negative interest coverage indicates riskier financial footing and refinancing challenges.
3. Stock Volatility
Genpact Limited
- Beta of 0.74 denotes below-market volatility, offering relative price stability for investors.
BigBear.ai Holdings, Inc.
- Beta of 3.21 reflects extreme stock price swings, increasing risk for short-term investors.
4. Regulatory & Legal
Genpact Limited
- Operates globally with exposure to data privacy and outsourcing regulations but has robust compliance frameworks.
BigBear.ai Holdings, Inc.
- Faces complex regulatory risks in AI ethics, cybersecurity, and government contracting with evolving rules.
5. Supply Chain & Operations
Genpact Limited
- Extensive global delivery network, some exposure to geopolitical disruptions but strong operational resilience.
BigBear.ai Holdings, Inc.
- Smaller scale with concentrated operations, vulnerable to supplier dependency and operational interruptions.
6. ESG & Climate Transition
Genpact Limited
- Provides ESG advisory services, actively managing carbon footprint and social responsibility initiatives.
BigBear.ai Holdings, Inc.
- Early-stage in ESG integration, limited disclosures and higher risk of transitional costs.
7. Geopolitical Exposure
Genpact Limited
- Global footprint including Asia and Europe, exposed to trade tensions but diversified risk.
BigBear.ai Holdings, Inc.
- Primarily US-based, less geographic diversification but sensitive to domestic policy shifts and defense spending.
Which company shows a better risk-adjusted profile?
Genpact Limited presents a superior risk-adjusted profile. Its conservative capital structure, stable cash flow generation, and diversified operational footprint reduce vulnerability. BigBear.ai’s high leverage, negative profitability, and extreme stock volatility heighten investment risk. Genpact’s Altman Z-score above 3 and strong Piotroski score confirm financial resilience, contrasting sharply with BigBear.ai’s distress-zone Z-score and weak fundamentals.
Final Verdict: Which stock to choose?
Genpact Limited’s superpower lies in its consistent value creation and operational efficiency. It delivers growing returns on invested capital well above its cost of capital, signaling a sustainable competitive advantage. A point of vigilance is its relatively elevated price-to-book ratio, which could temper upside. This stock suits portfolios targeting stable, long-term growth with moderate risk tolerance.
BigBear.ai Holdings, Inc. boasts a strategic moat in its cutting-edge AI capabilities and rapid revenue growth. However, it currently struggles with profitability and financial stability, reflected in weak liquidity and negative cash flow. Relative to Genpact, BigBear.ai poses higher risk but could appeal to investors seeking high-reward speculative plays or early-stage growth exposure.
If you prioritize durable profitability and capital efficiency, Genpact outshines as the compelling choice due to its robust economic moat and financial health. However, if you seek aggressive growth with a tolerance for volatility, BigBear.ai offers superior upside potential despite its precarious financial footing. Either scenario demands careful risk management aligned with your investment horizon and appetite.
Disclaimer: Investment carries a risk of loss of initial capital. The past performance is not a reliable indicator of future results. Be sure to understand risks before making an investment decision.
Go Further
I encourage you to read the complete analyses of Genpact Limited and BigBear.ai Holdings, Inc. to enhance your investment decisions:
