Conduent (CNDT) Financials

$2.59 +0.01 (+0.39%)

Closing price 04:00 PM Eastern

Extended Trading

$2.60 +0.02 (+0.58%)

As of 07:35 PM Eastern

Annual Income Statements for Conduent

This table shows Conduent's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-182	-296	426
Consolidated Net Income / (Loss)	-182	-296	426
Net Income / (Loss) Continuing Operations	-182	-296	426
Total Pre-Tax Income	-127	-332	504
Total Operating Income	-43	-221	579
Total Gross Profit	840	834	626
Total Revenue	3,858	3,722	3,356
Operating Revenue	3,858	3,722	3,356
Total Cost of Revenue	3,018	2,888	2,730
Operating Cost of Revenue	3,018	2,888	2,730
Total Operating Expenses	883	1,055	47
Selling, General & Admin Expense	440	458	455
Research & Development Expense	7.00	7.00	6.00
Depreciation Expense	230	264	204
Other Operating Expenses / (Income)	-159	7.00	-701
Impairment Charge	358	287	28
Restructuring Charge	39	62	46
Other Special Charges / (Income)	-32	-30	9.00
Total Other Income / (Expense), net	-84	-111	-75
Interest Expense	84	111	75
Income Tax Expense	55	-36	78
Basic Earnings per Share	($0.89)	($1.41)	$2.28
Weighted Average Basic Shares Outstanding	218.40M	209.97M	161.83M
Diluted Earnings per Share	($0.89)	($1.41)	$2.23
Weighted Average Diluted Shares Outstanding	218.40M	209.97M	161.83M
Weighted Average Basic & Diluted Shares Outstanding	218.40M	209.97M	161.83M

This table shows Conduent's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	15	-333	-6.00	-7.00	-289	6.00	99	216	123	-12
Consolidated Net Income / (Loss)	15	-333	-6.00	-7.00	-289	6.00	99	216	123	-12
Net Income / (Loss) Continuing Operations	15	-333	-6.00	-7.00	-289	6.00	99	216	123	-12
Total Pre-Tax Income	23	-365	-8.00	-7.00	-313	-4.00	127	300	159	-82
Total Operating Income	46	-181	21	23	-282	17	-7.00	-28	-13	627
Total Gross Profit	223	204	202	211	208	213	186	151	151	138
Total Revenue	977	986	922	915	932	953	921	828	807	800
Operating Revenue	977	986	922	915	932	953	921	828	807	800
Total Cost of Revenue	754	782	720	704	724	740	735	677	656	662
Operating Cost of Revenue	754	782	720	704	724	740	735	677	656	662
Total Operating Expenses	177	385	181	188	490	196	193	179	164	-489
Selling, General & Admin Expense	117	108	111	118	115	114	116	115	115	109
Research & Development Expense	2.00	2.00	2.00	1.00	2.00	2.00	2.00	1.00	1.00	2.00
Depreciation Expense	54	62	61	57	81	65	62	51	44	47
Other Operating Expenses / (Income)	0.00	-159	-1.00	0.00	-2.00	10	0.00	0.00	-2.00	-699
Restructuring Charge	4.00	15	29	13	7.00	13	9.00	8.00	4.00	25
Other Special Charges / (Income)	0.00	-1.00	-21	-1.00	0.00	-8.00	4.00	4.00	2.00	-1.00
Total Other Income / (Expense), net	-23	-184	-29	-30	-31	-21	134	328	172	-709
Interest Expense	22	25	27	27	28	29	27	19	16	13
Income Tax Expense	8.00	-32	-2.00	0.00	-24	-10	28	84	36	-70
Basic Earnings per Share	$0.06	($1.56)	($0.04)	($0.04)	($1.34)	$0.01	$0.46	$1.10	$0.75	($0.03)
Weighted Average Basic Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M
Diluted Earnings per Share	$0.06	($1.55)	($0.04)	($0.04)	($1.34)	$0.01	$0.46	$1.07	$0.72	($0.02)
Weighted Average Diluted Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M
Weighted Average Basic & Diluted Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M

This table details how cash moves in and out of Conduent's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	178	-79	-142
Net Cash From Operating Activities	144	89	-50
Net Cash From Continuing Operating Activities	144	89	-50
Net Income / (Loss) Continuing Operations	-182	-296	426
Consolidated Net Income / (Loss)	-182	-296	426
Depreciation Expense	230	264	204
Amortization Expense	7.00	7.00	6.00
Non-Cash Adjustments To Reconcile Net Income	214	306	-669
Changes in Operating Assets and Liabilities, net	-125	-192	-17
Net Cash From Investing Activities	173	-93	795
Net Cash From Continuing Investing Activities	173	-93	795
Purchase of Property, Plant & Equipment	-153	-93	-56
Divestitures	326	0.00	851
Net Cash From Financing Activities	-131	-81	-877
Net Cash From Continuing Financing Activities	-131	-81	-877
Repayment of Debt	-133	-41	-756
Repurchase of Common Equity	0.00	-27	-182
Payment of Dividends	-10	-10	-10
Issuance of Debt	13	0.00	80
Issuance of Common Equity	0.00	4.00	0.00
Other Financing Activities, net	-1.00	-7.00	-9.00
Effect of Exchange Rate Changes	-8.00	6.00	-10

This table details how cash moves in and out of Conduent's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	57	11	-51	-42	-50	64	-95	-117	97	-27
Net Cash From Operating Activities	98	51	-12	-10	-11	122	-37	-41	-13	41
Net Cash From Continuing Operating Activities	98	51	-12	-10	-11	122	-37	-41	-13	41
Net Income / (Loss) Continuing Operations	15	-333	-6.00	-7.00	-289	6.00	99	216	123	-12
Consolidated Net Income / (Loss)	15	-333	-6.00	-7.00	-289	6.00	99	216	123	-12
Depreciation Expense	54	62	61	57	81	65	62	51	44	47
Amortization Expense	2.00	2.00	2.00	2.00	2.00	1.00	2.00	1.00	2.00	1.00
Non-Cash Adjustments To Reconcile Net Income	6.00	365	2.00	6.00	292	6.00	-159	-361	-187	38
Changes in Operating Assets and Liabilities, net	21	-45	-71	-68	-97	44	-41	52	5.00	-33
Net Cash From Investing Activities	-26	-43	-22	-20	-22	-29	143	410	208	34
Net Cash From Continuing Investing Activities	-26	-43	-22	-20	-22	-29	143	410	208	34
Purchase of Property, Plant & Equipment	-27	-43	-22	-20	-22	-29	-21	-25	-16	6.00
Divestitures	1.00	-	0.00	-	-	-	164	435	224	28
Net Cash From Financing Activities	-11	1.00	-19	-13	-16	-33	-199	-482	-100	-96
Net Cash From Continuing Financing Activities	-11	1.00	-19	-13	-16	-33	-199	-482	-100	-96
Repayment of Debt	-8.00	-9.00	-10	-10	-10	-11	-175	-358	-134	-89
Payment of Dividends	-2.00	-3.00	-2.00	-3.00	-2.00	-3.00	-2.00	-3.00	-2.00	-3.00
Other Financing Activities, net	-1.00	-	-7.00	1.00	-1.00	-	-5.00	-	-	-4.00
Effect of Exchange Rate Changes	-4.00	2.00	2.00	1.00	-1.00	4.00	-2.00	-4.00	2.00	-6.00

This table presents Conduent's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	3,571	3,162	2,599
Total Current Assets	1,625	1,655	1,252
Cash & Equivalents	582	498	366
Accounts Receivable	630	559	493
Other Current Assets	413	598	393
Plant, Property, & Equipment, net	266	197	167
Plant, Property & Equipment, gross	266	197	167
Total Noncurrent Assets	1,680	1,310	1,180
Goodwill	955	651	609
Intangible Assets	39	32	14
Other Noncurrent Operating Assets	686	627	557
Total Liabilities & Shareholders' Equity	3,571	3,162	2,599
Total Liabilities	2,512	2,387	1,614
Total Current Liabilities	923	868	744
Short-Term Debt	35	34	24
Accounts Payable	228	174	157
Current Deferred Revenue	81	91	103
Current Employee Benefit Liabilities	197	183	170
Other Current Liabilities	382	328	290
Other Current Nonoperating Liabilities	0.00	58	0.00
Total Noncurrent Liabilities	1,589	1,519	870
Long-Term Debt	1,277	1,248	615
Noncurrent Deferred & Payable Income Tax Liabilities	83	30	24
Other Noncurrent Operating Liabilities	229	241	231
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	142	142	142
Total Equity & Noncontrolling Interests	917	633	843
Total Preferred & Common Equity	917	629	839
Total Common Equity	917	629	839
Common Stock	3,926	3,940	3,954
Retained Earnings	-2,543	-2,849	-2,433
Treasury Stock	0.00	-27	-210
Accumulated Other Comprehensive Income / (Loss)	-466	-435	-472
Other Equity Adjustments	-	-	0.12
Noncontrolling Interest	0.00	4.00	4.00

This table presents Conduent's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	3,921	3,503	3,453	3,146	3,058	2,780	2,841
Total Current Assets	1,641	1,556	1,517	1,535	1,589	1,352	1,445
Cash & Equivalents	577	526	500	451	415	300	393
Accounts Receivable	653	590	583	612	600	518	528
Other Current Assets	411	440	434	472	574	534	524
Plant, Property, & Equipment, net	262	259	252	241	186	179	174
Total Noncurrent Assets	2,018	1,688	1,684	1,370	1,283	1,249	1,222
Goodwill	1,286	965	967	668	643	637	642
Intangible Assets	41	37	36	34	31	15	15
Other Noncurrent Operating Assets	691	686	681	668	609	597	565
Total Liabilities & Shareholders' Equity	3,921	3,503	3,453	3,146	3,058	2,780	2,841
Total Liabilities	2,573	2,432	2,384	2,384	2,211	1,883	1,818
Total Current Liabilities	933	842	795	805	849	819	827
Short-Term Debt	33	38	41	40	33	33	26
Accounts Payable	203	176	169	166	167	136	133
Current Deferred Revenue	75	79	80	99	94	95	115
Current Employee Benefit Liabilities	227	174	180	195	175	171	193
Other Current Liabilities	395	375	325	305	324	362	360
Other Current Nonoperating Liabilities	-	-	-	-	56	22	0.00
Total Noncurrent Liabilities	1,640	1,590	1,589	1,579	1,362	1,064	991
Long-Term Debt	1,272	1,277	1,274	1,266	1,083	789	718
Noncurrent Deferred & Payable Income Tax Liabilities	117	85	75	61	43	48	54
Other Noncurrent Operating Liabilities	251	228	240	252	236	227	219
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	142	142	142	142	142	142	142
Total Equity & Noncontrolling Interests	1,206	929	927	620	705	755	881
Total Preferred & Common Equity	1,206	929	927	617	701	751	877
Preferred Stock	0.12	-	0.12	0.12	-	0.12	0.12
Total Common Equity	1,206	929	927	617	701	751	877
Common Stock	3,926	3,928	3,933	3,939	3,943	3,949	3,954
Retained Earnings	-2,207	-2,551	-2,561	-2,852	-2,752	-2,539	-2,418
Treasury Stock	-	-	-1.00	-7.00	-44	-196	-210
Accumulated Other Comprehensive Income / (Loss)	-513	-448	-444	-463	-446	-463	-449
Other Equity Adjustments	0.12	0.12	0.12	0.12	-	0.12	0.12
Noncontrolling Interest	-	-	-	3.00	4.00	4.00	4.00

This table displays calculated financial ratios and metrics derived from Conduent's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	-6.81%	-3.53%	-9.83%
EBITDA Growth	-50.13%	-74.23%	1,478.00%
EBIT Growth	-243.33%	-413.95%	361.99%
NOPAT Growth	-243.33%	-413.95%	416.35%
Net Income Growth	-550.00%	-62.64%	243.92%
EPS Growth	-394.44%	-58.43%	258.16%
Operating Cash Flow Growth	-40.74%	-38.19%	-156.18%
Free Cash Flow Firm Growth	330.27%	-96.41%	4,804.01%
Invested Capital Growth	-22.25%	-9.61%	-22.20%
Revenue Q/Q Growth	-1.58%	-0.88%	-4.36%
EBITDA Q/Q Growth	-46.26%	133.33%	300.51%
EBIT Q/Q Growth	-143.00%	47.26%	1,967.74%
NOPAT Q/Q Growth	-149.90%	47.26%	2,169.36%
Net Income Q/Q Growth	-263.96%	53.39%	-4.05%
EPS Q/Q Growth	-293.48%	52.53%	-1.33%
Operating Cash Flow Q/Q Growth	-19.10%	394.44%	-261.29%
Free Cash Flow Firm Q/Q Growth	50.44%	-89.56%	286.78%
Invested Capital Q/Q Growth	-13.82%	0.00%	-8.44%
Profitability Metrics	-	-	-
Gross Margin	21.77%	22.41%	18.65%
EBITDA Margin	5.03%	1.34%	23.51%
Operating Margin	-1.11%	-5.94%	17.25%
EBIT Margin	-1.11%	-5.94%	17.25%
Profit (Net Income) Margin	-4.72%	-7.95%	12.69%
Tax Burden Percent	143.31%	89.16%	84.52%
Interest Burden Percent	295.35%	150.23%	87.05%
Effective Tax Rate	0.00%	0.00%	15.48%
Return on Invested Capital (ROIC)	-1.47%	-9.08%	34.04%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.76%	-27.06%	22.67%
Return on Net Nonoperating Assets (RNNOA)	-14.13%	-23.20%	14.36%
Return on Equity (ROE)	-15.60%	-32.28%	48.41%
Cash Return on Invested Capital (CROIC)	23.56%	1.02%	59.02%
Operating Return on Assets (OROA)	-1.13%	-6.56%	20.10%
Return on Assets (ROA)	-4.79%	-8.79%	14.79%
Return on Common Equity (ROCE)	-13.70%	-27.21%	40.38%
Return on Equity Simple (ROE_SIMPLE)	-19.85%	-47.06%	50.77%
Net Operating Profit after Tax (NOPAT)	-30	-155	489
NOPAT Margin	-0.78%	-4.16%	14.58%
Net Nonoperating Expense Percent (NNEP)	17.29%	17.98%	11.37%
Return On Investment Capital (ROIC_SIMPLE)	-1.35%	-8.08%	33.02%
Cost of Revenue to Revenue	78.23%	77.59%	81.35%
SG&A Expenses to Revenue	11.40%	12.31%	13.56%
R&D to Revenue	0.18%	0.19%	0.18%
Operating Expenses to Revenue	22.89%	28.35%	1.40%
Earnings before Interest and Taxes (EBIT)	-43	-221	579
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	194	50	789
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.95	1.26	0.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.99
Price to Revenue (P/Rev)	0.23	0.21	0.19
Price to Earnings (P/E)	0.00	0.00	1.52
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	65.95%
Enterprise Value to Invested Capital (EV/IC)	0.98	1.07	0.85
Enterprise Value to Revenue (EV/Rev)	0.45	0.46	0.32
Enterprise Value to EBITDA (EV/EBITDA)	9.00	34.46	1.35
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	1.84
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	2.18
Enterprise Value to Operating Cash Flow (EV/OCF)	12.13	19.36	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	3.62	99.61	1.26
Leverage & Solvency	-	-	-
Debt to Equity	1.24	1.65	0.65
Long-Term Debt to Equity	1.21	1.61	0.62
Financial Leverage	0.75	0.86	0.63
Leverage Ratio	3.26	3.67	3.27
Compound Leverage Factor	9.63	5.52	2.85
Debt to Total Capital	55.34%	62.32%	39.35%
Short-Term Debt to Total Capital	1.48%	1.65%	1.48%
Long-Term Debt to Total Capital	53.86%	60.67%	37.87%
Preferred Equity to Total Capital	0.01%	0.01%	0.00%
Noncontrolling Interests to Total Capital	5.99%	7.10%	8.99%
Common Equity to Total Capital	38.68%	30.58%	51.67%
Debt to EBITDA	6.76	25.64	0.81
Net Debt to EBITDA	3.76	15.68	0.35
Long-Term Debt to EBITDA	6.58	24.96	0.78
Debt to NOPAT	-43.59	-8.29	1.31
Net Debt to NOPAT	-24.25	-5.07	0.56
Long-Term Debt to NOPAT	-42.43	-8.07	1.26
Altman Z-Score	0.49	0.18	1.19
Noncontrolling Interest Sharing Ratio	12.17%	15.70%	16.58%
Liquidity Ratios	-	-	-
Current Ratio	1.76	1.91	1.68
Quick Ratio	1.31	1.22	1.15
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	482	17	848
Operating Cash Flow to CapEx	94.12%	95.70%	-89.29%
Free Cash Flow to Firm to Interest Expense	5.74	0.16	11.31
Operating Cash Flow to Interest Expense	1.71	0.80	-0.67
Operating Cash Flow Less CapEx to Interest Expense	-0.11	-0.04	-1.41
Efficiency Ratios	-	-	-
Asset Turnover	1.01	1.11	1.17
Accounts Receivable Turnover	5.81	6.26	6.38
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	14.11	16.08	18.44
Accounts Payable Turnover	14.17	14.37	16.50
Days Sales Outstanding (DSO)	62.87	58.30	57.21
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	25.76	25.40	22.13
Cash Conversion Cycle (CCC)	37.11	32.90	35.08
Capital & Investment Metrics	-	-	-
Invested Capital	1,789	1,617	1,258
Invested Capital Turnover	1.89	2.19	2.33
Increase / (Decrease) in Invested Capital	-512	-172	-359
Enterprise Value (EV)	1,747	1,723	1,065
Market Capitalization	874	793	646
Book Value per Share	$4.25	$2.89	$5.25
Tangible Book Value per Share	($0.36)	($0.25)	$1.35
Total Capital	2,371	2,057	1,624
Total Debt	1,312	1,282	639
Total Long-Term Debt	1,277	1,248	615
Net Debt	730	784	273
Capital Expenditures (CapEx)	153	93	56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	155	323	166
Debt-free Net Working Capital (DFNWC)	737	821	532
Net Working Capital (NWC)	702	787	508
Net Nonoperating Expense (NNE)	152	141	63
Net Nonoperating Obligations (NNO)	730	842	273
Total Depreciation and Amortization (D&A)	237	271	210
Debt-free, Cash-free Net Working Capital to Revenue	4.02%	8.68%	4.95%
Debt-free Net Working Capital to Revenue	19.10%	22.06%	15.85%
Net Working Capital to Revenue	18.20%	21.14%	15.14%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.89)	($1.41)	$2.28
Adjusted Weighted Average Basic Shares Outstanding	218.40M	209.97M	161.83M
Adjusted Diluted Earnings per Share	($0.89)	($1.41)	$2.23
Adjusted Weighted Average Diluted Shares Outstanding	218.40M	209.97M	161.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	218.40M	209.97M	161.83M
Normalized Net Operating Profit after Tax (NOPAT)	225	69	560
Normalized NOPAT Margin	5.84%	1.84%	16.67%
Pre Tax Income Margin	-3.29%	-8.92%	15.02%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-0.51	-1.99	7.72
NOPAT to Interest Expense	-0.36	-1.39	6.53
EBIT Less CapEx to Interest Expense	-2.33	-2.83	6.97
NOPAT Less CapEx to Interest Expense	-2.18	-2.23	5.78
Payout Ratios	-	-	-
Dividend Payout Ratio	-5.49%	-3.38%	2.35%
Augmented Payout Ratio	-5.49%	-12.50%	45.07%

This table displays calculated financial ratios and metrics derived from Conduent's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.88%	-5.92%	-4.65%	-1.40%	-4.61%	-3.35%	-0.11%	-9.51%	-13.41%	-16.05%
EBITDA Growth	-13.68%	-334.00%	-71.82%	1.28%	-300.00%	170.94%	165.85%	369.62%	209.41%	713.25%
EBIT Growth	45.16%	-376.32%	-91.70%	-13.04%	-733.33%	109.39%	710.53%	1,495.00%	161.40%	3,588.24%
NOPAT Growth	67.16%	-376.32%	-65.61%	0.00%	-758.00%	109.39%	-137.12%	-225.22%	94.91%	3,588.24%
Net Income Growth	36.36%	-732.50%	-104.41%	0.00%	-2,026.67%	101.80%	1,750.00%	3,185.71%	142.56%	-300.00%
EPS Growth	50.00%	-675.00%	-106.56%	-300.00%	-2,333.33%	100.65%	1,250.00%	2,775.00%	153.73%	-300.00%
Operating Cash Flow Growth	78.18%	-40.00%	-209.09%	37.50%	-111.22%	139.22%	-208.33%	-310.00%	-18.18%	-66.39%
Free Cash Flow Firm Growth	69.64%	498.29%	-12.60%	34.98%	-9.79%	-52.27%	-9.78%	49.89%	-10.95%	333.88%
Invested Capital Growth	-11.13%	-22.25%	-12.39%	-12.37%	-22.11%	-9.61%	-13.76%	-23.51%	-15.03%	-22.20%
Revenue Q/Q Growth	5.28%	0.92%	-6.49%	-0.76%	1.86%	2.25%	-3.36%	-10.10%	-2.54%	-0.87%
EBITDA Q/Q Growth	29.49%	-215.84%	170.09%	-3.66%	-355.70%	141.09%	162.65%	70.18%	-40.43%	205.43%
EBIT Q/Q Growth	95.65%	-502.22%	110.50%	5.26%	-1,525.00%	105.96%	805.88%	107.14%	-45.14%	258.29%
NOPAT Q/Q Growth	0.00%	-522.33%	111.60%	9.52%	-1,326.09%	106.03%	-145.85%	-269.45%	50.12%	4,464.30%
Net Income Q/Q Growth	0.00%	-2,320.00%	98.20%	-16.67%	-4,028.57%	102.08%	1,550.00%	118.18%	-43.06%	-109.76%
EPS Q/Q Growth	700.00%	-2,683.33%	97.42%	0.00%	-3,250.00%	100.75%	4,500.00%	132.61%	-32.71%	-102.78%
Operating Cash Flow Q/Q Growth	712.50%	-47.96%	-123.53%	16.67%	-10.00%	1,209.09%	-130.33%	-10.81%	68.29%	415.38%
Free Cash Flow Firm Q/Q Growth	38.76%	32.86%	-27.93%	1.58%	-7.27%	-29.70%	36.24%	68.77%	-44.91%	242.53%
Invested Capital Q/Q Growth	-3.44%	-13.82%	3.97%	1.29%	-14.17%	0.00%	-0.80%	-10.16%	-4.65%	-8.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.83%	20.69%	21.91%	23.06%	22.32%	22.35%	20.20%	18.24%	18.71%	17.25%
EBITDA Margin	10.34%	-11.87%	8.89%	8.63%	-21.67%	8.71%	23.67%	44.81%	27.39%	84.38%
Operating Margin	4.71%	-18.36%	2.28%	2.51%	-30.26%	1.78%	-0.76%	-3.38%	-1.61%	78.38%
EBIT Margin	4.61%	-18.36%	2.06%	2.19%	-30.58%	1.78%	16.72%	38.53%	21.69%	78.38%
Profit (Net Income) Margin	1.54%	-33.77%	-0.65%	-0.77%	-31.01%	0.63%	10.75%	26.09%	15.24%	-1.50%
Tax Burden Percent	65.22%	91.23%	75.00%	100.00%	92.33%	-150.00%	77.95%	72.00%	77.36%	14.63%
Interest Burden Percent	51.11%	201.66%	-42.11%	-35.00%	109.82%	-23.53%	82.47%	94.04%	90.86%	-13.08%
Effective Tax Rate	34.78%	0.00%	0.00%	0.00%	0.00%	0.00%	22.05%	28.00%	22.64%	0.00%
Return on Invested Capital (ROIC)	5.46%	-24.24%	3.05%	3.32%	-43.07%	2.73%	-1.27%	-5.32%	-2.92%	128.08%
ROIC Less NNEP Spread (ROIC-NNEP)	3.73%	-47.73%	0.31%	0.42%	-54.64%	1.98%	12.24%	29.43%	19.14%	47.20%
Return on Net Nonoperating Assets (RNNOA)	2.43%	-35.94%	0.19%	0.28%	-41.00%	1.70%	9.87%	20.35%	12.93%	29.90%
Return on Equity (ROE)	7.88%	-60.18%	3.24%	3.59%	-84.07%	4.42%	8.59%	15.02%	10.01%	157.99%
Cash Return on Invested Capital (CROIC)	14.52%	23.56%	10.11%	10.03%	8.97%	1.02%	4.72%	21.40%	14.67%	59.02%
Operating Return on Assets (OROA)	4.51%	-18.62%	2.10%	2.26%	-32.50%	1.97%	18.97%	44.92%	25.42%	91.31%
Return on Assets (ROA)	1.50%	-34.26%	-0.66%	-0.79%	-32.95%	0.70%	12.19%	30.42%	17.87%	-1.75%
Return on Common Equity (ROCE)	7.05%	-52.86%	2.87%	3.17%	-72.64%	3.73%	7.30%	12.82%	8.38%	131.79%
Return on Equity Simple (ROE_SIMPLE)	9.20%	0.00%	-34.88%	-35.71%	-102.92%	0.00%	-27.25%	4.26%	50.63%	0.00%
Net Operating Profit after Tax (NOPAT)	30	-127	15	16	-197	12	-5.46	-20	-10	439
NOPAT Margin	3.07%	-12.85%	1.59%	1.76%	-21.18%	1.25%	-0.59%	-2.43%	-1.25%	54.86%
Net Nonoperating Expense Percent (NNEP)	1.73%	23.48%	2.75%	2.89%	11.57%	0.75%	-13.51%	-34.76%	-22.07%	80.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-5.68%	-	-	-	0.62%	-	-	-	29.62%
Cost of Revenue to Revenue	77.18%	79.31%	78.09%	76.94%	77.68%	77.65%	79.80%	81.76%	81.29%	82.75%
SG&A Expenses to Revenue	11.98%	10.95%	12.04%	12.90%	12.34%	11.96%	12.60%	13.89%	14.25%	13.63%
R&D to Revenue	0.20%	0.20%	0.22%	0.11%	0.21%	0.21%	0.22%	0.12%	0.12%	0.25%
Operating Expenses to Revenue	18.12%	39.05%	19.63%	20.55%	52.58%	20.57%	20.96%	21.62%	20.32%	-61.13%
Earnings before Interest and Taxes (EBIT)	45	-181	19	20	-285	17	154	319	175	627
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	101	-117	82	79	-202	83	218	371	221	675
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.60	0.95	0.81	0.80	1.23	1.26	1.05	0.89	0.75	0.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	27.20	6.73	2.97	2.99
Price to Revenue (P/Rev)	0.18	0.23	0.20	0.20	0.20	0.21	0.20	0.18	0.19	0.19
Price to Earnings (P/E)	6.49	0.00	0.00	0.00	0.00	0.00	0.00	20.84	1.47	1.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	15.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.80%	67.84%	65.95%
Enterprise Value to Invested Capital (EV/IC)	0.77	0.98	0.90	0.90	1.09	1.07	0.99	0.93	0.84	0.85
Enterprise Value to Revenue (EV/Rev)	0.41	0.45	0.44	0.45	0.47	0.46	0.43	0.37	0.33	0.32
Enterprise Value to EBITDA (EV/EBITDA)	4.41	9.00	11.20	11.26	0.00	34.46	68.76	0.00	5.85	1.35
Enterprise Value to EBIT (EV/EBIT)	15.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.84
Enterprise Value to NOPAT (EV/NOPAT)	26.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.18
Enterprise Value to Operating Cash Flow (EV/OCF)	8.94	12.13	13.89	13.38	97.66	19.36	24.71	40.46	37.15	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	4.97	3.62	8.34	8.40	10.61	99.61	19.36	3.75	5.25	1.26
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.97	1.24	1.23	1.23	1.71	1.65	1.32	0.92	0.73	0.65
Long-Term Debt to Equity	0.94	1.21	1.19	1.19	1.66	1.61	1.28	0.88	0.70	0.62
Financial Leverage	0.65	0.75	0.61	0.66	0.75	0.86	0.81	0.69	0.68	0.63
Leverage Ratio	3.00	3.26	3.02	3.02	3.35	3.67	3.42	3.17	3.35	3.27
Compound Leverage Factor	1.53	6.58	-1.27	-1.06	3.68	-0.86	2.82	2.98	3.05	-0.43
Debt to Total Capital	49.19%	55.34%	55.11%	55.16%	63.15%	62.32%	56.85%	47.82%	42.11%	39.35%
Short-Term Debt to Total Capital	1.24%	1.48%	1.59%	1.72%	1.93%	1.65%	1.68%	1.92%	1.47%	1.48%
Long-Term Debt to Total Capital	47.95%	53.86%	53.52%	53.44%	61.22%	60.67%	55.17%	45.90%	40.63%	37.87%
Preferred Equity to Total Capital	0.00%	0.01%	0.00%	0.01%	0.01%	0.01%	0.00%	0.01%	0.01%	0.00%
Noncontrolling Interests to Total Capital	5.35%	5.99%	5.95%	5.96%	7.01%	7.10%	7.44%	8.49%	8.26%	8.99%
Common Equity to Total Capital	45.46%	38.68%	38.94%	38.89%	29.84%	30.58%	35.71%	43.70%	49.64%	51.67%
Debt to EBITDA	3.62	6.76	8.77	8.71	-8.71	25.64	48.52	-23.49	3.78	0.81
Net Debt to EBITDA	2.02	3.76	5.26	5.40	-5.70	15.68	30.48	-14.91	1.78	0.35
Long-Term Debt to EBITDA	3.52	6.58	8.51	8.44	-8.44	24.96	47.09	-22.54	3.64	0.78
Debt to NOPAT	21.63	-43.59	-21.35	-20.64	-4.45	-8.29	-6.40	-9.42	-31.46	1.31
Net Debt to NOPAT	12.07	-24.25	-12.81	-12.79	-2.92	-5.07	-4.02	-5.98	-14.84	0.56
Long-Term Debt to NOPAT	21.09	-42.43	-20.73	-20.00	-4.32	-8.07	-6.21	-9.04	-30.36	1.26
Altman Z-Score	0.63	0.36	0.52	0.52	0.09	0.43	0.61	0.85	0.72	1.25
Noncontrolling Interest Sharing Ratio	10.62%	12.17%	11.47%	11.65%	13.59%	15.70%	15.01%	14.64%	16.29%	16.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.76	1.76	1.85	1.91	1.91	1.91	1.87	1.65	1.75	1.68
Quick Ratio	1.32	1.31	1.33	1.36	1.32	1.22	1.20	1.00	1.11	1.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	290	385	278	282	262	184	251	423	233	798
Operating Cash Flow to CapEx	362.96%	118.60%	-54.55%	-50.00%	-50.00%	420.69%	-176.19%	-164.00%	-81.25%	0.00%
Free Cash Flow to Firm to Interest Expense	13.18	15.41	10.29	10.45	9.34	6.34	9.28	22.25	14.56	61.38
Operating Cash Flow to Interest Expense	4.45	2.04	-0.44	-0.37	-0.39	4.21	-1.37	-2.16	-0.81	3.15
Operating Cash Flow Less CapEx to Interest Expense	3.23	0.32	-1.26	-1.11	-1.18	3.21	-2.15	-3.47	-1.81	3.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.98	1.01	1.02	1.03	1.06	1.11	1.13	1.17	1.17	1.17
Accounts Receivable Turnover	5.79	5.81	6.10	6.00	5.94	6.26	6.25	6.60	6.16	6.38
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	14.65	14.11	14.36	14.76	14.93	16.08	16.72	16.86	16.91	18.44
Accounts Payable Turnover	16.34	14.17	16.35	17.67	15.88	14.37	16.93	18.86	18.78	16.50
Days Sales Outstanding (DSO)	63.04	62.87	59.88	60.85	61.48	58.30	58.36	55.29	59.29	57.21
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	22.34	25.76	22.33	20.65	22.98	25.40	21.56	19.35	19.43	22.13
Cash Conversion Cycle (CCC)	40.70	37.11	37.55	40.19	38.50	32.90	36.80	35.94	39.86	35.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,076	1,789	1,860	1,884	1,617	1,617	1,604	1,441	1,374	1,258
Invested Capital Turnover	1.78	1.89	1.91	1.88	2.03	2.19	2.15	2.19	2.35	2.33
Increase / (Decrease) in Invested Capital	-260	-512	-263	-266	-459	-172	-256	-443	-243	-359
Enterprise Value (EV)	1,591	1,747	1,680	1,700	1,758	1,723	1,581	1,335	1,152	1,065
Market Capitalization	721	874	749	743	758	793	734	667	654	646
Book Value per Share	$5.59	$4.25	$4.25	$4.24	$2.83	$2.89	$3.43	$3.67	$5.40	$5.25
Tangible Book Value per Share	($0.56)	($0.36)	($0.33)	($0.35)	($0.39)	($0.25)	$0.13	$0.48	$1.36	$1.35
Total Capital	2,653	2,371	2,386	2,384	2,068	2,057	1,963	1,719	1,767	1,624
Total Debt	1,305	1,312	1,315	1,315	1,306	1,282	1,116	822	744	639
Total Long-Term Debt	1,272	1,277	1,277	1,274	1,266	1,248	1,083	789	718	615
Net Debt	728	730	789	815	855	784	701	522	351	273
Capital Expenditures (CapEx)	27	43	22	20	22	29	21	25	16	-6.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	164	155	226	263	319	323	358	266	251	166
Debt-free Net Working Capital (DFNWC)	741	737	752	763	770	821	773	566	644	532
Net Working Capital (NWC)	708	702	714	722	730	787	740	533	618	508
Net Nonoperating Expense (NNE)	15	206	21	23	92	5.90	-104	-236	-133	451
Net Nonoperating Obligations (NNO)	728	730	789	815	855	842	757	544	351	273
Total Depreciation and Amortization (D&A)	56	64	63	59	83	66	64	52	46	48
Debt-free, Cash-free Net Working Capital to Revenue	4.18%	4.02%	5.93%	6.92%	8.50%	8.68%	9.62%	7.32%	7.15%	4.95%
Debt-free Net Working Capital to Revenue	18.90%	19.10%	19.72%	20.08%	20.51%	22.06%	20.77%	15.58%	18.35%	15.85%
Net Working Capital to Revenue	18.06%	18.20%	18.73%	19.00%	19.44%	21.14%	19.89%	14.67%	17.61%	15.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	($1.56)	($0.04)	($0.04)	($1.34)	$0.01	$0.46	$1.10	$0.75	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M
Adjusted Diluted Earnings per Share	$0.06	($1.55)	($0.04)	($0.04)	($1.34)	$0.01	$0.46	$1.07	$0.72	($0.02)
Adjusted Weighted Average Diluted Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	215.92M	218.40M	218.44M	217.74M	217.29M	209.97M	204.58M	162.40M	159.89M	161.83M
Normalized Net Operating Profit after Tax (NOPAT)	33	-117	20	25	8.40	15	4.68	-12	-5.42	456
Normalized NOPAT Margin	3.34%	-11.86%	2.20%	2.68%	0.90%	1.62%	0.51%	-1.39%	-0.67%	56.96%
Pre Tax Income Margin	2.35%	-37.02%	-0.87%	-0.77%	-33.58%	-0.42%	13.79%	36.23%	19.70%	-10.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.05	-7.24	0.70	0.74	-10.18	0.59	5.70	16.79	10.94	48.23
NOPAT to Interest Expense	1.36	-5.07	0.54	0.60	-7.05	0.41	-0.20	-1.06	-0.63	33.76
EBIT Less CapEx to Interest Expense	0.82	-8.96	-0.11	0.00	-10.96	-0.41	4.93	15.47	9.94	48.69
NOPAT Less CapEx to Interest Expense	0.14	-6.79	-0.27	-0.14	-7.84	-0.59	-0.98	-2.38	-1.63	34.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.01%	-5.49%	-3.09%	-3.02%	-1.57%	-3.38%	-5.24%	31.25%	2.25%	2.35%
Augmented Payout Ratio	9.01%	-5.49%	-3.09%	-3.32%	-2.68%	-12.50%	-28.27%	637.50%	47.75%	45.07%

Financials Breakdown Chart

Key Financial Trends

Conduent (NASDAQ: CNDT) Financial Summary and Trends Analysis (2022 - 2024)

Analyzing Conduent's recent quarterly financial statements over the last two years shows significant oscillations in profitability, cash flow, and balance sheet metrics.

Operating revenues have remained relatively stable over the last several quarters, hovering around $800 million to $950 million per quarter, indicating steady top-line performance.
The company shows ability to generate positive gross profit in most quarters, typically between $130 million to $210 million, demonstrating some operational profitability after direct costs.
Cash and equivalents consistently remain strong, ranging from roughly $300 million to above $500 million in most quarters, providing liquidity to meet short-term obligations.
Depreciation and amortization are significant but stable expenses, reflecting fixed asset and intangible asset investment amortization.
Selling, General & Administrative (SG&A) expenses remain relatively stable around $100 million to $120 million per quarter, showing controlled overhead costs over time.
Research & Development expenses are consistently low (around $1-2 million quarterly), indicating limited investment in R&D.
The company routinely uses restructuring charges and special charges/credits, occasionally with positive or negative impact, reflecting ongoing cost restructuring efforts.
Long-term debt ranges from $700 million to $1.28 billion, illustrating moderate leverage on the balance sheet with repayments partially offsetting new debt issuances.
Conduent reported wide swings in net income including large quarterly losses exceeding $300 million in 2022 Q4 and 2023 Q3, followed by quarters with substantial net income (over $200 million in 2024 Q2), indicating volatile profitability.
Negative operating income is recorded in multiple quarters in 2023 and 2024, with significant losses related to impairment charges (notably $287 million in 2023 Q3), affecting overall profitability.
Net cash from operating activities fluctuated considerably, with large negative cash flow quarters (e.g., -$41 million in 2024 Q2) and other quarters with positive operating cash flow, suggesting inconsistent core cash generation.
Significant divestiture activities were observed with large cash inflows from asset sales ($435 million in 2024 Q2, $280 million in 2024 Q4), implying reliance on one-time gains to boost overall cash flow.
The company repurchases common equity aggressively in several quarters, with expenditures reaching up to $151 million, which could pressure liquidity and signals confidence but also uses cash resources.
There is exposure to currency exchange fluctuations impacting cash flows negatively at times (up to -$6 million in 2024 Q4).

Summary: Conduent demonstrates resilient revenue and liquidity positions with steady gross margins and controlled expenses. However, profitability remains erratic with heavy impairment charges and restructuring costs that have led to large losses in several quarters. Cash flow volatility tied to divestitures and equity repurchases adds complexity to financial stability. Investors should monitor management’s ability to sustain operational profitability while managing debt and cash flow volatility as the company navigates restructuring and business transitions.

10/24/25 12:04 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Conduent's Financials

When does Conduent's fiscal year end?

According to the most recent income statement we have on file, Conduent's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Conduent's net income changed over the last 2 years?

Conduent's net income appears to be on a downward trend, with a most recent value of $426 million in 2024, falling from -$182 million in 2022. The previous period was -$296 million in 2023. See Conduent's forecast for analyst expectations on what’s next for the company.

What is Conduent's operating income?

Conduent's total operating income in 2024 was $579 million, based on the following breakdown:

Total Gross Profit: $626 million
Total Operating Expenses: $47 million

How has Conduent's revenue changed over the last 2 years?

Over the last 2 years, Conduent's total revenue changed from $3.86 billion in 2022 to $3.36 billion in 2024, a change of -13.0%.

How much debt does Conduent have?

Conduent's total liabilities were at $1.61 billion at the end of 2024, a 32.4% decrease from 2023, and a 35.7% decrease since 2022.

How much cash does Conduent have?

In the past 2 years, Conduent's cash and equivalents has ranged from $366 million in 2024 to $582 million in 2022, and is currently $366 million as of their latest financial filing in 2024.

How has Conduent's book value per share changed over the last 2 years?

Over the last 2 years, Conduent's book value per share changed from 4.25 in 2022 to 5.25 in 2024, a change of 23.6%.

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This page (NASDAQ:CNDT) was last updated on 10/23/2025 by MarketBeat.com Staff

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