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Cognizant Technology Solutions (CTSH) Financials

Cognizant Technology Solutions logo
$71.72 -0.59 (-0.82%)
Closing price 04:00 PM Eastern
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$71.98 +0.26 (+0.36%)
As of 06:28 PM Eastern
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Annual Income Statements for Cognizant Technology Solutions

Annual Income Statements for Cognizant Technology Solutions

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 1,439 1,624 1,553 1,504 2,101 1,842 1,392 2,137 2,290 2,126 2,240
Consolidated Net Income / (Loss)		 1,439 1,624 1,553 1,504 2,101 1,842 1,392 2,137 2,290 2,126 2,240
Net Income / (Loss) Continuing Operations		 1,439 1,624 1,553 1,504 2,101 1,842 1,392 2,137 2,290 2,126 2,240
Total Pre-Tax Income 		1,924 2,164 2,357 2,655 2,797 2,543 2,096 2,827 3,016 2,787 2,938
Total Operating Income		 1,885 2,142 2,289 2,481 2,801 2,453 2,114 2,826 2,968 2,689 2,892
Total Gross Profit		 4,122 4,976 5,379 5,658 6,287 6,149 5,981 6,903 6,980 6,689 6,778
Total Revenue		 10,263 12,416 13,487 14,810 16,125 16,783 16,652 18,507 19,428 19,353 19,736
Operating Revenue		 10,263 12,416 13,487 14,810 16,125 16,783 16,652 18,507 19,428 19,353 19,736
Total Cost of Revenue		 6,141 7,440 8,108 9,152 9,838 10,634 10,671 11,604 12,448 12,664 12,958
Operating Cost of Revenue		 6,141 7,440 8,108 9,152 9,838 10,634 10,671 11,604 12,448 12,664 12,958
Total Operating Expenses		 2,237 2,834 3,090 3,177 3,486 3,696 3,867 4,077 4,012 4,000 3,886
Selling, General & Admin Expense		 2,037 2,509 2,731 2,697 3,007 2,972 3,100 3,503 3,443 3,252 3,223
Depreciation Expense		 200 325 359 408 460 507 552 574 569 519 529
Restructuring Charge		 - - - 72 19 217 215 0.00 0.00 229 134
Total Other Income / (Expense), net		 39 22 68 174 -4.00 90 -18 1.00 48 98 46
Interest Expense		 3.00 18 19 23 27 26 24 9.00 19 41 54
Interest & Investment Income		 62 84 115 133 177 176 119 30 59 126 119
Other Income / (Expense), net		 -20 -44 -28 64 -154 -60 -113 -20 8.00 13 -19
Income Tax Expense		 485 540 805 1,153 698 643 704 693 730 668 713
Other Gains / (Losses), net		 0.00 0.00 1.00 2.00 2.00 -58 0.00 3.00 4.00 7.00 15
Basic Earnings per Share		 $2.37 $2.67 $2.56 $2.54 $3.61 $3.30 $2.58 $4.06 $4.42 $4.21 $4.52
Weighted Average Basic Shares Outstanding		 608M 609M 607M 593M 582M 559M 540M 527M 518M 505M 496M
Diluted Earnings per Share		 $2.35 $2.65 $2.55 $2.53 $3.60 $3.29 $2.57 $4.05 $4.41 $4.21 $4.51
Weighted Average Diluted Shares Outstanding		 613M 613M 610M 595M 584M 560M 541M 528M 519M 505M 497M
Weighted Average Basic & Diluted Shares Outstanding		 609.62M 609.12M 606.60M 592.10M 614.30M 548.64M 530.61M 524.53M 509.29M 497.84M 494.62M
Cash Dividends to Common per Share		 - $0.00 $0.00 - $0.00 $0.80 $0.88 $0.96 $1.08 $1.16 $1.20

Quarterly Income Statements for Cognizant Technology Solutions

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 521 580 463 525 558 546 566 582 546 663 645
Consolidated Net Income / (Loss)		 521 580 463 525 558 546 566 582 546 663 645
Net Income / (Loss) Continuing Operations		 521 580 463 525 558 546 566 582 546 663 645
Total Pre-Tax Income 		714 738 587 713 749 722 728 748 740 872 842
Total Operating Income		 686 702 577 686 724 695 708 738 751 853 817
Total Gross Profit		 1,687 1,669 1,655 1,688 1,677 1,614 1,646 1,733 1,785 1,718 1,766
Total Revenue		 4,839 4,812 4,886 4,897 4,758 4,760 4,850 5,044 5,082 5,115 5,245
Operating Revenue		 4,839 4,812 4,886 4,897 4,758 4,760 4,850 5,044 5,082 5,115 5,245
Total Cost of Revenue		 3,152 3,143 3,231 3,209 3,081 3,146 3,204 3,311 3,297 3,397 3,479
Operating Cost of Revenue		 3,152 3,143 3,231 3,209 3,081 3,146 3,204 3,311 3,297 3,397 3,479
Total Operating Expenses		 1,001 967 1,078 1,002 953 919 938 995 1,034 865 949
Selling, General & Admin Expense		 860 835 830 801 786 765 781 833 844 791 810
Depreciation Expense		 141 132 131 129 127 131 128 129 141 136 139
Restructuring Charge		 - 0.00 117 72 40 23 29 33 49 0.00 0.00
Other Special Charges / (Income)		 - - - - - 0.00 0.00 - - -62 0.00
Total Other Income / (Expense), net		 28 36 10 27 25 27 20 10 -11 19 25
Interest Expense		 8.00 9.00 10 11 11 11 10 14 19 12 9.00
Interest & Investment Income		 27 30 30 32 34 30 30 31 28 30 23
Other Income / (Expense), net		 9.00 15 -10 6.00 2.00 8.00 0.00 -7.00 -20 1.00 11
Income Tax Expense		 193 158 124 191 195 179 165 170 199 213 197
Other Gains / (Losses), net		 - 0.00 0.00 3.00 4.00 3.00 3.00 4.00 5.00 4.00 0.00
Basic Earnings per Share		 $1.02 $1.14 $0.92 $1.04 $1.11 $1.10 $1.14 $1.17 $1.11 $1.34 $1.31
Weighted Average Basic Shares Outstanding		 518M 509M 506M 504M 505M 497M 497M 496M 496M 494M 492M
Diluted Earnings per Share		 $1.01 $1.14 $0.91 $1.04 $1.12 $1.10 $1.14 $1.17 $1.10 $1.34 $1.31
Weighted Average Diluted Shares Outstanding		 519M 509M 507M 505M 505M 498M 498M 496M 497M 495M 492M
Weighted Average Basic & Diluted Shares Outstanding		 509.29M 507.48M 505.04M 501.41M 497.84M 497.20M 495.66M 495.82M 494.62M 492.94M 488.40M
Cash Dividends to Common per Share		 - $0.29 $0.29 $0.29 - $0.30 $0.30 $0.30 - - $0.31

Annual Cash Flow Statements for Cognizant Technology Solutions

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -203 115 -91 -109 -764 1,484 35 -888 502 423 -486
Net Cash From Operating Activities		 1,473 2,187 1,645 2,407 2,592 2,499 3,299 2,495 2,568 2,330 2,124
Net Cash From Continuing Operating Activities		 1,473 2,187 1,645 2,407 2,592 2,499 3,299 2,495 2,568 2,330 2,124
Net Income / (Loss) Continuing Operations		 1,439 1,624 1,553 1,504 2,101 1,842 1,392 2,137 2,290 2,126 2,240
Consolidated Net Income / (Loss)		 1,439 1,624 1,553 1,504 2,101 1,842 1,392 2,137 2,290 2,126 2,240
Depreciation Expense		 208 330 379 443 498 526 559 574 569 555 542
Non-Cash Adjustments To Reconcile Net Income		 147 251 275 150 392 336 351 245 306 -162 207
Changes in Operating Assets and Liabilities, net		 -321 -18 -562 310 -399 -205 997 -461 -597 -189 -865
Net Cash From Investing Activities		 -3,161 -1,371 -963 -582 -1,627 1,588 -1,238 -2,164 -106 -331 -1,646
Net Cash From Continuing Investing Activities		 -3,161 -1,371 -963 -582 -1,627 1,588 -1,238 -2,164 -106 -331 -1,646
Purchase of Property, Plant & Equipment		 -212 -273 -300 -284 -377 -392 -398 -279 -332 -317 -297
Acquisitions		 -2,691 -2.00 -334 -216 -1,111 -617 -1,123 -970 -367 -409 -1,615
Purchase of Investments		 -2,498 -3,004 -5,169 -4,726 -3,506 -1,509 -733 -2,293 -1,817 -441 -2.00
Divestitures		 - - - - - - 0.00 0.00 28 0.00 0.00
Sale and/or Maturity of Investments		 2,240 1,908 4,840 4,644 3,367 4,106 1,016 1,378 2,382 836 268
Net Cash From Financing Activities		 1,503 -682 -743 -1,985 -1,693 -2,569 -2,009 -1,203 -1,939 -1,609 -915
Net Cash From Continuing Financing Activities		 1,503 -682 -743 -1,985 -1,693 -2,569 -2,009 -1,203 -1,939 -1,609 -915
Repayment of Debt		 -24 -53 -407 -95 -170 -28 -1,790 -53 -689 -25 -373
Repurchase of Common Equity		 -248 -460 -512 -1,889 -1,261 -2,247 -1,621 -771 -1,422 -1,064 -605
Payment of Dividends		 - 0.00 0.00 -265 -468 -453 -480 -509 -564 -591 -600
Issuance of Debt		 1,650 -300 0.00 75 0.00 0.00 1,740 0.00 650 0.00 600
Issuance of Common Equity		 101 131 176 189 181 159 142 130 86 71 63
Other Net Changes in Cash		 - - - - - - - - - - -49
Cash Interest Paid		 0.00 14 16 21 21 25 25 7.00 15 40 53
Cash Income Taxes Paid		 559 579 845 587 597 870 745 625 813 1,245 1,120

Quarterly Cash Flow Statements for Cognizant Technology Solutions

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 252 164 -403 149 513 -486 -38 -180 218 -251 -184
Net Cash From Operating Activities		 702 729 36 828 737 95 262 847 920 400 398
Net Cash From Continuing Operating Activities		 702 729 36 828 737 95 262 847 920 400 398
Net Income / (Loss) Continuing Operations		 521 580 463 525 558 546 566 582 546 663 645
Consolidated Net Income / (Loss)		 521 580 463 525 558 546 566 582 546 663 645
Depreciation Expense		 141 132 141 146 136 133 133 133 143 136 139
Non-Cash Adjustments To Reconcile Net Income		 22 71 44 75 -352 74 47 36 50 -26 39
Changes in Operating Assets and Liabilities, net		 18 -54 -612 82 395 -658 -484 96 181 -373 -425
Net Cash From Investing Activities		 -78 -215 -85 -199 168 -238 -79 -1,250 -79 -7.00 -82
Net Cash From Continuing Investing Activities		 -78 -215 -85 -199 168 -238 -79 -1,250 -79 -7.00 -82
Purchase of Property, Plant & Equipment		 -90 -98 -68 -73 -78 -79 -79 -56 -83 -77 -67
Sale and/or Maturity of Investments		 666 321 156 133 226 262 1.00 - 5.00 0.00 1.00
Net Cash From Financing Activities		 -431 -350 -354 -450 -455 -304 -221 212 -602 -657 -516
Net Cash From Continuing Financing Activities		 -431 -350 -354 -450 -455 -304 -221 212 -602 -657 -516
Repayment of Debt		 -642 -1.00 -10 -4.00 -10 -40 -10 -11 -312 -312 -9.00
Repurchase of Common Equity		 -315 -222 -214 -315 -313 -133 -76 -242 -154 -209 -368
Payment of Dividends		 -139 -150 -148 -147 -146 -151 -150 -149 -150 -155 -153
Issuance of Common Equity		 15 23 18 16 14 20 15 14 14 19 14
Effect of Exchange Rate Changes		 59 0.00 - -30 63 -39 - 11 - 13 16

Annual Balance Sheets for Cognizant Technology Solutions

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 11,479 13,061 14,262 15,221 15,846 16,204 16,923 17,852 17,852 18,483 19,966
Total Current Assets		 6,421 7,909 8,600 9,111 8,610 7,611 6,851 7,342 7,266 7,506 7,504
Cash & Equivalents		 2,010 2,125 2,034 1,925 1,161 2,645 2,680 1,792 2,191 2,621 2,231
Short-Term Investments		 1,765 2,824 3,135 3,131 3,350 779 44 927 310 14 12
Accounts Receivable		 2,293 2,622 2,905 3,222 3,190 3,256 3,087 3,557 3,796 3,849 4,059
Other Current Assets		 353 338 526 833 909 931 1,040 1,066 969 1,022 1,202
Plant, Property, & Equipment, net		 1,247 1,271 1,311 1,324 1,394 1,309 1,251 1,171 1,101 1,048 994
Total Noncurrent Assets		 3,811 3,881 4,351 4,786 5,842 7,284 8,821 9,339 9,485 9,929 11,468
Long-Term Investments		 - 0.00 62 235 80 17 440 463 427 435 90
Goodwill		 2,414 2,405 2,554 2,704 3,481 3,979 5,031 5,620 5,710 6,085 6,953
Intangible Assets		 954 864 951 981 1,150 1,041 1,046 1,218 1,168 1,149 1,599
Noncurrent Deferred & Refundable Income Taxes		 234 348 425 418 442 585 445 404 642 993 1,248
Other Noncurrent Operating Assets		 210 264 359 448 689 1,662 1,859 1,634 1,538 1,267 1,578
Total Liabilities & Shareholders' Equity		 11,479 13,061 14,262 15,221 15,846 16,204 16,923 17,852 17,852 18,483 19,966
Total Liabilities		 3,739 3,783 3,534 4,552 4,422 5,182 6,087 5,861 5,543 5,256 5,558
Total Current Liabilities		 2,592 2,714 2,418 2,839 2,710 2,983 3,540 3,529 3,347 3,333 3,585
Short-Term Debt		 700 406 81 175 9.00 38 38 38 8.00 33 33
Accounts Payable		 146 165 175 210 215 239 389 361 360 337 340
Accrued Expenses		 1,522 1,819 1,856 2,071 2,200 2,191 2,519 2,532 2,407 2,425 2,610
Current Deferred Revenue		 224 324 306 383 286 313 383 403 398 385 450
Other Current Liabilities		 - - - - - 202 211 195 174 153 152
Total Noncurrent Liabilities		 1,147 1,069 1,116 1,713 1,712 2,199 2,547 2,332 2,196 1,923 1,973
Long-Term Debt		 938 877 797 698 736 700 663 626 638 606 875
Capital Lease Obligations		 - - - - - 745 846 783 714 523 420
Noncurrent Deferred Revenue		 81 49 151 688 540 501 464 418 302 199 30
Noncurrent Deferred & Payable Income Tax Liabilities		 12 3.00 6.00 146 183 35 206 218 180 226 154
Other Noncurrent Operating Liabilities		 116 140 162 181 253 218 368 287 362 369 494
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 7,740 9,278 10,728 10,669 11,424 11,022 10,836 11,991 12,309 13,227 14,408
Total Preferred & Common Equity		 7,740 9,278 10,728 10,669 11,424 11,022 10,836 11,991 12,309 13,227 14,408
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 7,740 9,278 10,728 10,669 11,424 11,022 10,836 11,991 12,309 13,227 14,408
Common Stock		 562 459 364 55 53 38 37 32 20 20 18
Retained Earnings		 7,302 8,925 10,478 10,544 11,485 11,022 10,689 11,922 12,588 13,301 14,686
Accumulated Other Comprehensive Income / (Loss)		 -123 -106 -114 70 -114 -38 110 37 -299 -94 -296

Quarterly Balance Sheets for Cognizant Technology Solutions

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Total Assets		 17,852 18,147 17,967 18,079 18,483 18,408 18,580 20,164 19,966 19,967 20,164
Total Current Assets		 7,266 7,228 6,951 7,127 7,506 7,086 7,245 7,548 7,504 7,545 7,606
Cash & Equivalents		 2,191 2,458 2,055 2,204 2,621 2,231 2,193 2,013 2,231 1,980 1,796
Short-Term Investments		 310 23 40 164 14 12 12 12 12 12 12
Accounts Receivable		 3,796 3,718 3,755 3,807 3,849 3,822 3,973 4,206 4,059 4,239 4,402
Other Current Assets		 969 1,029 1,101 952 1,022 1,021 1,067 1,317 1,202 1,314 1,396
Plant, Property, & Equipment, net		 1,101 1,102 1,087 1,048 1,048 1,036 1,009 1,001 994 988 976
Total Noncurrent Assets		 9,485 9,817 9,929 9,904 9,929 10,286 10,326 11,615 11,468 11,434 11,582
Long-Term Investments		 427 424 425 432 435 83 86 90 90 94 110
Goodwill		 5,710 6,040 6,065 6,013 6,085 6,393 6,395 7,132 6,953 7,006 7,120
Intangible Assets		 1,168 1,262 1,228 1,174 1,149 1,171 1,129 1,681 1,599 1,555 1,523
Noncurrent Deferred & Refundable Income Taxes		 642 666 762 935 993 993 1,095 1,091 1,248 1,216 1,256
Other Noncurrent Operating Assets		 1,538 1,425 1,449 1,350 1,267 1,646 1,621 1,621 1,578 1,563 1,573
Total Liabilities & Shareholders' Equity		 17,852 18,147 17,967 18,079 18,483 18,408 18,580 20,164 19,966 19,967 20,164
Total Liabilities		 5,543 5,486 5,064 5,197 5,256 4,918 4,682 5,712 5,558 5,068 4,876
Total Current Liabilities		 3,347 3,321 3,056 3,191 3,333 3,012 2,946 3,388 3,585 3,406 3,156
Short-Term Debt		 8.00 16 24 33 33 33 33 33 33 33 33
Accounts Payable		 360 332 318 325 337 291 298 304 340 326 279
Accrued Expenses		 2,407 2,331 2,163 2,367 2,425 2,096 2,076 2,504 2,610 2,373 2,249
Current Deferred Revenue		 398 469 380 302 385 449 391 355 450 519 440
Other Current Liabilities		 174 173 171 164 153 143 148 192 152 155 155
Total Noncurrent Liabilities		 2,196 2,165 2,008 2,006 1,923 1,906 1,736 2,324 1,973 1,662 1,720
Long-Term Debt		 638 630 622 614 606 598 590 1,183 875 567 559
Capital Lease Obligations		 714 688 664 634 523 503 466 455 420 424 430
Noncurrent Deferred Revenue		 302 315 187 191 199 193 29 28 30 33 34
Noncurrent Deferred & Payable Income Tax Liabilities		 180 215 220 220 226 201 203 218 154 171 169
Other Noncurrent Operating Liabilities		 362 317 315 347 369 411 448 440 494 467 528
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 12,309 12,661 12,903 12,882 13,227 13,490 13,898 14,452 14,408 14,899 15,288
Total Preferred & Common Equity		 12,309 12,661 12,903 12,882 13,227 13,490 13,898 14,452 14,408 14,899 15,288
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 12,309 12,661 12,903 12,882 13,227 13,490 13,898 14,452 14,408 14,899 15,288
Common Stock		 20 27 22 21 20 25 20 63 18 24 19
Retained Earnings		 12,588 12,856 13,022 13,146 13,301 13,621 14,028 14,347 14,686 15,040 15,226
Accumulated Other Comprehensive Income / (Loss)		 -299 -222 -141 -285 -94 -156 -150 42 -296 -165 43

Annual Metrics And Ratios for Cognizant Technology Solutions

This table displays calculated financial ratios and metrics derived from Cognizant Technology Solutions' official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.06% 20.98% 8.63% 9.81% 8.88% 4.08% -0.78% 11.14% 4.98% -0.39% 1.98%
EBITDA Growth		 13.97% 17.12% 8.73% 13.18% 5.25% -7.19% -12.30% 32.03% 4.88% -8.12% 4.85%
EBIT Growth		 13.79% 12.49% 7.77% 12.56% 4.01% -9.60% -16.38% 40.23% 6.06% -9.21% 6.33%
NOPAT Growth		 15.43% 14.02% -6.24% -6.88% 49.76% -12.81% -23.40% 51.95% 5.46% -9.12% 7.13%
Net Income Growth		 17.13% 12.86% -4.37% -3.16% 39.69% -12.33% -24.43% 53.52% 7.16% -7.16% 5.36%
EPS Growth		 16.34% 12.77% -3.77% -0.78% 42.29% -8.61% -21.88% 57.59% 8.89% -4.54% 7.13%
Operating Cash Flow Growth		 3.46% 48.47% -24.78% 46.32% 7.69% -3.59% 32.01% -24.37% 2.93% -9.27% -8.84%
Free Cash Flow Firm Growth		 -319.13% 188.57% -53.44% 105.26% -49.27% -55.26% 260.18% -12.23% 60.97% -16.89% -92.76%
Invested Capital Growth		 134.60% 0.16% 13.60% -1.95% 21.23% 19.61% 1.71% 11.25% 4.73% 5.38% 18.41%
Revenue Q/Q Growth		 3.92% 4.11% 1.73% 2.53% 1.90% 0.93% -0.60% 3.31% 0.32% -0.42% 1.67%
EBITDA Q/Q Growth		 2.29% 3.98% 0.36% 5.96% 3.32% -5.81% -4.51% 8.75% -1.12% 0.80% 0.35%
EBIT Q/Q Growth		 1.72% 3.33% -0.15% 6.13% 3.60% -7.07% -6.36% 10.91% -1.23% 1.16% 0.17%
NOPAT Q/Q Growth		 2.63% 3.83% -0.10% -23.98% 42.97% -5.16% -8.99% 13.74% -3.07% 1.74% 0.66%
Net Income Q/Q Growth		 2.73% 3.92% -0.50% -22.39% 46.41% -12.08% -5.37% 13.85% -2.35% 1.77% -0.53%
EPS Q/Q Growth		 2.17% 3.11% -1.16% -22.15% 46.94% -10.84% -4.81% 14.41% -2.00% 2.68% -0.44%
Operating Cash Flow Q/Q Growth		 -10.98% 22.35% -6.78% 10.67% -4.92% 10.43% -1.20% -2.84% -4.57% 1.53% 9.43%
Free Cash Flow Firm Q/Q Growth		 -300.95% 212.97% -22.91% 18.50% -46.60% 239.50% -37.41% -1.10% 16.19% 85.76% 122.62%
Invested Capital Q/Q Growth		 102.77% -2.00% 1.68% -8.44% 10.69% 0.41% 7.52% 9.80% 5.90% -0.39% -4.32%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 40.16% 40.08% 39.88% 38.20% 38.99% 36.64% 35.92% 37.30% 35.93% 34.56% 34.34%
EBITDA Margin		 20.20% 19.56% 19.57% 20.18% 19.50% 17.39% 15.37% 18.26% 18.25% 16.83% 17.30%
Operating Margin		 18.37% 17.25% 16.97% 16.75% 17.37% 14.62% 12.70% 15.27% 15.28% 13.89% 14.65%
EBIT Margin		 18.17% 16.90% 16.76% 17.18% 16.42% 14.26% 12.02% 15.16% 15.32% 13.96% 14.56%
Profit (Net Income) Margin		 14.02% 13.08% 11.51% 10.16% 13.03% 10.98% 8.36% 11.55% 11.79% 10.99% 11.35%
Tax Burden Percent		 74.79% 75.05% 65.89% 56.65% 75.12% 72.43% 66.41% 75.59% 75.93% 76.28% 76.24%
Interest Burden Percent		 103.16% 103.15% 104.25% 104.32% 105.67% 106.27% 104.75% 100.75% 101.34% 103.15% 102.26%
Effective Tax Rate		 25.21% 24.95% 34.15% 43.43% 24.96% 25.29% 33.59% 24.51% 24.20% 23.97% 24.27%
Return on Invested Capital (ROIC)		 35.28% 28.67% 25.15% 22.23% 30.40% 22.03% 15.36% 21.91% 21.43% 18.54% 17.72%
ROIC Less NNEP Spread (ROIC-NNEP)		 34.29% 28.10% 24.01% 19.94% 30.42% 21.71% 16.03% 21.68% 18.98% 13.85% 14.30%
Return on Net Nonoperating Assets (RNNOA)		 -14.54% -9.58% -9.62% -8.17% -11.38% -5.61% -2.62% -3.18% -2.58% -1.88% -1.51%
Return on Equity (ROE)		 20.74% 19.09% 15.53% 14.06% 19.02% 16.41% 12.74% 18.72% 18.85% 16.65% 16.21%
Cash Return on Invested Capital (CROIC)		 -45.17% 28.51% 12.42% 24.20% 11.21% 4.17% 13.66% 11.26% 16.81% 13.30% 0.86%
Operating Return on Assets (OROA)		 19.02% 17.10% 16.55% 17.26% 17.04% 14.93% 12.08% 16.14% 16.67% 14.87% 14.94%
Return on Assets (ROA)		 14.67% 13.24% 11.37% 10.20% 13.53% 11.49% 8.40% 12.29% 12.83% 11.70% 11.65%
Return on Common Equity (ROCE)		 20.74% 19.09% 15.53% 14.06% 19.02% 16.41% 12.74% 18.72% 18.85% 16.65% 16.21%
Return on Equity Simple (ROE_SIMPLE)		 18.59% 17.50% 14.48% 14.10% 18.39% 16.71% 12.85% 17.82% 18.60% 16.07% 15.55%
Net Operating Profit after Tax (NOPAT)		 1,410 1,607 1,507 1,404 2,102 1,833 1,404 2,133 2,250 2,044 2,190
NOPAT Margin		 13.74% 12.95% 11.18% 9.48% 13.04% 10.92% 8.43% 11.53% 11.58% 10.56% 11.10%
Net Nonoperating Expense Percent (NNEP)		 0.99% 0.57% 1.14% 2.29% -0.02% 0.32% -0.67% 0.22% 2.45% 4.69% 3.42%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 16.46% 14.21% 13.92%
Cost of Revenue to Revenue		 59.84% 59.92% 60.12% 61.80% 61.01% 63.36% 64.08% 62.70% 64.07% 65.44% 65.66%
SG&A Expenses to Revenue		 19.85% 20.21% 20.25% 18.21% 18.65% 17.71% 18.62% 18.93% 17.72% 16.80% 16.33%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 21.80% 22.83% 22.91% 21.45% 21.62% 22.02% 23.22% 22.03% 20.65% 20.67% 19.69%
Earnings before Interest and Taxes (EBIT)		 1,865 2,098 2,261 2,545 2,647 2,393 2,001 2,806 2,976 2,702 2,873
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,073 2,428 2,640 2,988 3,145 2,919 2,560 3,380 3,545 3,257 3,415
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.75 3.56 2.87 3.57 2.96 2.87 3.82 3.72 2.31 2.82 2.65
Price to Tangible Book Value (P/TBV)		 6.63 5.49 4.26 5.46 4.98 5.27 8.69 8.65 5.23 6.22 6.51
Price to Revenue (P/Rev)		 2.83 2.66 2.28 2.57 2.10 1.89 2.48 2.41 1.46 1.93 1.93
Price to Earnings (P/E)		 20.15 20.33 19.80 25.35 16.10 17.17 29.72 20.85 12.41 17.53 17.02
Dividend Yield		 0.00% 0.00% 0.00% 0.70% 1.37% 1.38% 1.14% 1.13% 1.95% 1.56% 1.56%
Earnings Yield		 4.96% 4.92% 5.05% 3.95% 6.21% 5.82% 3.36% 4.80% 8.06% 5.70% 5.87%
Enterprise Value to Invested Capital (EV/IC)		 4.79 5.23 4.14 5.39 3.95 3.27 4.31 4.18 2.50 3.12 2.77
Enterprise Value to Revenue (EV/Rev)		 2.62 2.36 1.96 2.28 1.86 1.77 2.39 2.31 1.38 1.83 1.88
Enterprise Value to EBITDA (EV/EBITDA)		 12.96 12.08 10.00 11.28 9.53 10.17 15.53 12.67 7.58 10.86 10.87
Enterprise Value to EBIT (EV/EBIT)		 14.40 13.99 11.67 13.24 11.32 12.40 19.87 15.26 9.03 13.09 12.92
Enterprise Value to NOPAT (EV/NOPAT)		 19.05 18.25 17.51 24.01 14.26 16.19 28.31 20.07 11.94 17.30 16.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.24 13.42 16.04 14.00 11.56 11.88 12.05 17.16 10.46 15.18 17.48
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 18.36 35.46 22.06 38.67 85.59 31.83 39.06 15.22 24.11 349.69
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.21 0.14 0.08 0.08 0.07 0.13 0.14 0.12 0.11 0.09 0.09
Long-Term Debt to Equity		 0.12 0.09 0.07 0.07 0.06 0.13 0.14 0.12 0.11 0.09 0.09
Financial Leverage		 -0.42 -0.34 -0.40 -0.41 -0.37 -0.26 -0.16 -0.15 -0.14 -0.14 -0.11
Leverage Ratio		 1.41 1.44 1.37 1.38 1.41 1.43 1.52 1.52 1.47 1.42 1.39
Compound Leverage Factor		 1.46 1.49 1.42 1.44 1.49 1.52 1.59 1.53 1.49 1.47 1.42
Debt to Total Capital		 17.46% 12.15% 7.57% 7.56% 6.12% 11.86% 12.49% 10.77% 9.95% 8.08% 8.44%
Short-Term Debt to Total Capital		 7.46% 3.84% 0.70% 1.52% 0.07% 0.30% 0.31% 0.28% 0.06% 0.23% 0.21%
Long-Term Debt to Total Capital		 10.00% 8.30% 6.87% 6.05% 6.05% 11.56% 12.19% 10.49% 9.89% 7.85% 8.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 82.54% 87.85% 92.43% 92.44% 93.88% 88.14% 87.51% 89.23% 90.05% 91.92% 91.56%
Debt to EBITDA		 0.79 0.53 0.33 0.29 0.24 0.51 0.60 0.43 0.38 0.36 0.39
Net Debt to EBITDA		 -1.03 -1.51 -1.65 -1.48 -1.22 -0.67 -0.63 -0.51 -0.44 -0.59 -0.29
Long-Term Debt to EBITDA		 0.45 0.36 0.30 0.23 0.23 0.50 0.59 0.42 0.38 0.35 0.38
Debt to NOPAT		 1.16 0.80 0.58 0.62 0.35 0.81 1.10 0.68 0.60 0.57 0.61
Net Debt to NOPAT		 -1.52 -2.28 -2.89 -3.15 -1.83 -1.07 -1.15 -0.81 -0.70 -0.93 -0.46
Long-Term Debt to NOPAT		 0.67 0.55 0.53 0.50 0.35 0.79 1.07 0.66 0.60 0.55 0.59
Altman Z-Score		 7.38 8.15 8.24 8.01 7.62 6.48 6.57 7.31 5.97 7.06 6.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.48 2.91 3.56 3.21 3.18 2.55 1.94 2.08 2.17 2.25 2.09
Quick Ratio		 2.34 2.79 3.34 2.92 2.84 2.24 1.64 1.78 1.88 1.95 1.76
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,805 1,598 744 1,528 775 347 1,249 1,096 1,765 1,466 106
Operating Cash Flow to CapEx		 694.81% 801.10% 548.33% 847.54% 687.53% 637.50% 828.89% 894.27% 773.49% 735.02% 715.15%
Free Cash Flow to Firm to Interest Expense		 -601.62 88.81 39.17 66.42 28.70 13.34 52.04 121.81 92.87 35.77 1.97
Operating Cash Flow to Interest Expense		 491.00 121.50 86.58 104.65 96.00 96.12 137.46 277.22 135.16 56.83 39.33
Operating Cash Flow Less CapEx to Interest Expense		 420.33 106.33 70.79 92.30 82.04 81.04 120.88 246.22 117.68 49.10 33.83
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.05 1.01 0.99 1.00 1.04 1.05 1.01 1.06 1.09 1.07 1.03
Accounts Receivable Turnover		 4.92 5.05 4.88 4.83 5.03 5.21 5.25 5.57 5.28 5.06 4.99
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.82 9.86 10.45 11.24 11.87 12.42 13.01 15.28 17.10 18.01 19.33
Accounts Payable Turnover		 47.40 47.89 47.69 47.54 46.30 46.85 33.98 30.94 34.53 36.34 38.28
Days Sales Outstanding (DSO)		 74.13 72.25 74.79 75.50 72.57 70.09 69.52 65.52 69.07 72.09 73.13
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 7.70 7.62 7.65 7.68 7.88 7.79 10.74 11.80 10.57 10.04 9.53
Cash Conversion Cycle (CCC)		 66.43 64.63 67.14 67.82 64.69 62.30 58.78 53.72 58.50 62.05 63.59
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,603 5,612 6,375 6,251 7,578 9,064 9,219 10,256 10,741 11,319 13,403
Invested Capital Turnover		 2.57 2.21 2.25 2.35 2.33 2.02 1.82 1.90 1.85 1.75 1.60
Increase / (Decrease) in Invested Capital		 3,215 9.00 763 -124 1,327 1,486 155 1,037 485 578 2,084
Enterprise Value (EV)		 26,864 29,342 26,392 33,701 29,970 29,677 39,751 42,824 26,859 35,363 37,124
Market Capitalization		 29,001 33,008 30,745 38,119 33,816 31,635 41,368 44,559 28,427 37,271 38,129
Book Value per Share		 $12.71 $15.26 $17.68 $18.09 $19.73 $20.13 $20.27 $22.83 $23.95 $26.38 $29.06
Tangible Book Value per Share		 $7.18 $9.88 $11.91 $11.84 $11.73 $10.96 $8.90 $9.81 $10.57 $11.95 $11.81
Total Capital		 9,378 10,561 11,606 11,542 12,169 12,505 12,383 13,438 13,669 14,389 15,736
Total Debt		 1,638 1,283 878 873 745 1,483 1,547 1,447 1,360 1,162 1,328
Total Long-Term Debt		 938 877 797 698 736 1,445 1,509 1,409 1,352 1,129 1,295
Net Debt		 -2,137 -3,666 -4,353 -4,418 -3,846 -1,958 -1,617 -1,735 -1,568 -1,908 -1,005
Capital Expenditures (CapEx)		 212 273 300 284 377 392 398 279 332 317 297
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 754 652 1,094 1,391 1,398 1,242 625 1,132 1,426 1,571 1,709
Debt-free Net Working Capital (DFNWC)		 4,529 5,601 6,263 6,447 5,909 4,666 3,349 3,851 3,927 4,206 3,952
Net Working Capital (NWC)		 3,829 5,195 6,182 6,272 5,900 4,628 3,311 3,813 3,919 4,173 3,919
Net Nonoperating Expense (NNE)		 -29 -17 -46 -100 1.00 -9.24 12 -3.75 -40 -82 -50
Net Nonoperating Obligations (NNO)		 -2,137 -3,666 -4,353 -4,418 -3,846 -1,958 -1,617 -1,735 -1,568 -1,908 -1,005
Total Depreciation and Amortization (D&A)		 208 330 379 443 498 526 559 574 569 555 542
Debt-free, Cash-free Net Working Capital to Revenue		 7.34% 5.25% 8.11% 9.39% 8.67% 7.40% 3.75% 6.12% 7.34% 8.12% 8.66%
Debt-free Net Working Capital to Revenue		 44.12% 45.11% 46.44% 43.53% 36.65% 27.80% 20.11% 20.81% 20.21% 21.73% 20.02%
Net Working Capital to Revenue		 37.30% 41.84% 45.84% 42.35% 36.59% 27.58% 19.88% 20.60% 20.17% 21.56% 19.86%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $3.30 $2.58 $4.06 $4.42 $4.21 $4.52
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 559M 540M 527M 518M 505M 496M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $3.29 $2.57 $4.05 $4.41 $4.21 $4.51
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 560M 541M 528M 519M 505M 497M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 548.64M 530.61M 524.53M 509.29M 497.84M 494.62M
Normalized Net Operating Profit after Tax (NOPAT)		 1,410 1,607 1,507 1,444 2,116 1,995 1,547 2,133 2,250 2,219 2,292
Normalized NOPAT Margin		 13.74% 12.95% 11.18% 9.75% 13.12% 11.89% 9.29% 11.53% 11.58% 11.46% 11.61%
Pre Tax Income Margin		 18.75% 17.43% 17.48% 17.93% 17.35% 15.15% 12.59% 15.28% 15.52% 14.40% 14.89%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 621.67 116.56 119.00 110.65 98.04 92.04 83.38 311.78 156.63 65.90 53.20
NOPAT to Interest Expense		 469.94 89.31 79.33 61.02 77.85 70.49 58.50 237.03 118.40 49.87 40.56
EBIT Less CapEx to Interest Expense		 551.00 101.39 103.21 98.30 84.07 76.96 66.79 280.78 139.16 58.17 47.70
NOPAT Less CapEx to Interest Expense		 399.28 74.14 63.54 48.68 63.89 55.41 41.91 206.03 100.93 42.13 35.06
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 17.62% 22.28% 24.59% 34.48% 23.82% 24.63% 27.80% 26.79%
Augmented Payout Ratio		 17.23% 28.33% 32.97% 143.22% 82.29% 146.58% 150.93% 59.90% 86.72% 77.85% 53.79%

Quarterly Metrics And Ratios for Cognizant Technology Solutions

This table displays calculated financial ratios and metrics derived from Cognizant Technology Solutions' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.30% -0.29% -0.41% 0.82% -1.67% -1.08% -0.74% 3.00% 6.81% 7.46% 8.14%
EBITDA Growth		 -4.57% -2.19% -21.25% -11.04% 3.11% -1.53% 18.79% 3.10% 1.39% 18.42% 14.98%
EBIT Growth		 -5.05% -1.10% -24.90% -13.61% 4.46% -1.95% 24.87% 5.64% 0.69% 21.48% 16.95%
NOPAT Growth		 -12.35% -0.62% -21.02% -18.75% 6.98% -5.26% 20.31% 13.55% 2.53% 23.33% 14.30%
Net Income Growth		 -9.55% 3.02% -19.76% -16.53% 7.10% -5.86% 22.25% 10.86% -2.15% 21.43% 13.96%
EPS Growth		 -8.18% 6.54% -18.02% -14.75% 10.89% -3.51% 25.27% 12.50% -1.79% 21.82% 14.91%
Operating Cash Flow Growth		 -14.91% 138.24% -93.18% -19.77% 4.99% -86.97% 627.78% 2.29% 24.83% 321.05% 51.91%
Free Cash Flow Firm Growth		 103.34% 107.67% -64.98% -290.42% -372.93% -1,069.22% 30.77% -189.05% -3,512.40% -30.51% -134.96%
Invested Capital Growth		 4.73% 4.53% 10.52% 12.03% 5.38% 10.89% 8.58% 23.28% 18.41% 12.51% 13.36%
Revenue Q/Q Growth		 -0.37% -0.56% 1.54% 0.23% -2.84% 0.04% 1.89% 4.00% 0.75% 0.65% 2.54%
EBITDA Q/Q Growth		 -11.25% 1.56% -16.61% 18.36% 2.86% -3.02% 0.60% 2.73% 1.16% 13.27% -2.32%
EBIT Q/Q Growth		 -13.23% 3.17% -20.92% 22.05% 4.91% -3.17% 0.71% 3.25% 0.00% 16.83% -3.04%
NOPAT Q/Q Growth		 -19.02% 10.22% -17.51% 10.35% 6.63% -2.39% 4.75% 4.15% -3.72% 17.41% -2.92%
Net Income Q/Q Growth		 -17.17% 11.32% -20.17% 13.39% 6.29% -2.15% 3.66% 2.83% -6.19% 21.43% -2.71%
EPS Q/Q Growth		 -17.21% 12.87% -20.18% 14.29% 7.69% -1.79% 3.64% 2.63% -5.98% 21.82% -2.24%
Operating Cash Flow Q/Q Growth		 -31.98% 3.85% -95.06% 2,200.00% -10.99% -87.11% 175.79% 223.28% 8.62% -56.52% -0.50%
Free Cash Flow Firm Q/Q Growth		 108.47% 354.17% -1,030.44% -9.10% 94.08% -1,512.81% 33.54% -355.52% 26.02% 41.73% -19.66%
Invested Capital Q/Q Growth		 5.90% 3.25% 5.44% -2.82% -0.39% 8.65% 3.24% 10.33% -4.32% 3.24% 4.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 34.86% 34.68% 33.87% 34.47% 35.25% 33.91% 33.94% 34.36% 35.12% 33.59% 33.67%
EBITDA Margin		 17.28% 17.64% 14.49% 17.11% 18.12% 17.56% 17.34% 17.13% 17.20% 19.35% 18.44%
Operating Margin		 14.18% 14.59% 11.81% 14.01% 15.22% 14.60% 14.60% 14.63% 14.78% 16.68% 15.58%
EBIT Margin		 14.36% 14.90% 11.60% 14.13% 15.26% 14.77% 14.60% 14.49% 14.38% 16.70% 15.79%
Profit (Net Income) Margin		 10.77% 12.05% 9.48% 10.72% 11.73% 11.47% 11.67% 11.54% 10.74% 12.96% 12.30%
Tax Burden Percent		 72.97% 78.59% 78.88% 73.63% 74.50% 75.62% 77.75% 77.81% 73.78% 76.03% 76.60%
Interest Burden Percent		 102.73% 102.93% 103.53% 103.03% 103.17% 102.70% 102.82% 102.33% 101.23% 102.11% 101.69%
Effective Tax Rate		 27.03% 21.41% 21.12% 26.79% 26.03% 24.79% 22.66% 22.73% 26.89% 24.43% 23.40%
Return on Invested Capital (ROIC)		 19.14% 20.52% 16.22% 18.54% 19.75% 18.12% 17.84% 17.30% 17.25% 19.38% 18.05%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.91% 18.59% 15.61% 17.17% 18.45% 16.44% 16.30% 16.11% 17.46% 17.75% 16.22%
Return on Net Nonoperating Assets (RNNOA)		 -2.43% -2.21% -1.62% -2.30% -2.51% -1.74% -1.47% -1.16% -1.84% -1.41% -1.17%
Return on Equity (ROE)		 16.71% 18.30% 14.60% 16.23% 17.24% 16.39% 16.37% 16.14% 15.41% 17.97% 16.88%
Cash Return on Invested Capital (CROIC)		 16.81% 16.28% 9.09% 7.34% 13.30% 6.90% 9.06% -3.70% 0.86% 5.92% 5.13%
Operating Return on Assets (OROA)		 15.63% 16.26% 12.78% 15.50% 16.25% 15.60% 15.39% 14.71% 14.77% 17.48% 16.69%
Return on Assets (ROA)		 11.72% 13.15% 10.43% 11.76% 12.49% 12.11% 12.30% 11.71% 11.03% 13.57% 13.00%
Return on Common Equity (ROCE)		 16.71% 18.30% 14.60% 16.23% 17.24% 16.39% 16.37% 16.14% 15.41% 17.97% 16.88%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 18.22% 17.00% 16.22% 0.00% 15.51% 15.79% 15.58% 0.00% 15.82% 0.00%
Net Operating Profit after Tax (NOPAT)		 501 552 455 502 536 523 548 570 549 645 626
NOPAT Margin		 10.34% 11.47% 9.31% 10.26% 11.25% 10.98% 11.29% 11.31% 10.80% 12.60% 11.93%
Net Nonoperating Expense Percent (NNEP)		 1.24% 1.93% 0.61% 1.37% 1.29% 1.69% 1.53% 1.19% -0.21% 1.63% 1.83%
Return On Investment Capital (ROIC_SIMPLE)		 3.66% - - - 3.72% - - - 3.49% 4.05% 3.84%
Cost of Revenue to Revenue		 65.14% 65.32% 66.13% 65.53% 64.75% 66.09% 66.06% 65.64% 64.88% 66.41% 66.33%
SG&A Expenses to Revenue		 17.77% 17.35% 16.99% 16.36% 16.52% 16.07% 16.10% 16.51% 16.61% 15.46% 15.44%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 20.69% 20.10% 22.06% 20.46% 20.03% 19.31% 19.34% 19.73% 20.35% 16.91% 18.09%
Earnings before Interest and Taxes (EBIT)		 695 717 567 692 726 703 708 731 731 854 828
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 836 849 708 838 862 836 841 864 874 990 967
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.31 2.39 2.52 2.61 2.82 2.70 2.42 2.65 2.65 2.54 2.52
Price to Tangible Book Value (P/TBV)		 5.23 5.65 5.79 5.91 6.22 6.15 5.28 6.78 6.51 5.97 5.79
Price to Revenue (P/Rev)		 1.46 1.56 1.67 1.73 1.93 1.89 1.75 1.97 1.93 1.88 1.88
Price to Earnings (P/E)		 12.41 13.12 14.80 16.11 17.53 17.42 15.34 16.99 17.02 16.05 15.79
Dividend Yield		 1.95% 1.85% 1.75% 1.71% 1.56% 1.61% 1.74% 1.54% 1.56% 1.58% 1.56%
Earnings Yield		 8.06% 7.62% 6.76% 6.21% 5.70% 5.74% 6.52% 5.89% 5.87% 6.23% 6.33%
Enterprise Value to Invested Capital (EV/IC)		 2.50 2.59 2.67 2.83 3.12 2.87 2.56 2.70 2.77 2.66 2.61
Enterprise Value to Revenue (EV/Rev)		 1.38 1.48 1.61 1.65 1.83 1.83 1.69 1.95 1.88 1.83 1.83
Enterprise Value to EBITDA (EV/EBITDA)		 7.58 8.14 9.37 9.95 10.86 10.87 9.62 11.11 10.87 10.30 10.17
Enterprise Value to EBIT (EV/EBIT)		 9.03 9.67 11.24 12.03 13.09 13.12 11.48 13.18 12.92 12.16 11.95
Enterprise Value to NOPAT (EV/NOPAT)		 11.94 12.77 14.70 15.99 17.30 17.50 15.41 17.38 16.95 15.91 15.72
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.46 9.59 12.50 14.00 15.18 20.79 16.90 19.48 17.48 15.14 14.65
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.22 16.25 30.87 40.71 24.11 43.68 29.39 0.00 349.69 47.56 54.10
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.11 0.11 0.10 0.10 0.09 0.08 0.08 0.12 0.09 0.07 0.07
Long-Term Debt to Equity		 0.11 0.10 0.10 0.10 0.09 0.08 0.08 0.11 0.09 0.07 0.06
Financial Leverage		 -0.14 -0.12 -0.10 -0.13 -0.14 -0.11 -0.09 -0.07 -0.11 -0.08 -0.07
Leverage Ratio		 1.47 1.44 1.42 1.43 1.42 1.40 1.36 1.40 1.39 1.35 1.33
Compound Leverage Factor		 1.51 1.49 1.47 1.47 1.47 1.44 1.40 1.43 1.41 1.38 1.35
Debt to Total Capital		 9.95% 9.53% 9.22% 9.04% 8.08% 7.75% 7.27% 10.36% 8.44% 6.43% 6.27%
Short-Term Debt to Total Capital		 0.06% 0.11% 0.17% 0.23% 0.23% 0.23% 0.22% 0.20% 0.21% 0.21% 0.20%
Long-Term Debt to Total Capital		 9.89% 9.42% 9.05% 8.81% 7.85% 7.53% 7.05% 10.16% 8.23% 6.22% 6.06%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 90.05% 90.47% 90.78% 90.96% 91.92% 92.25% 92.73% 89.64% 91.56% 93.57% 93.73%
Debt to EBITDA		 0.38 0.38 0.39 0.40 0.36 0.35 0.32 0.49 0.39 0.29 0.28
Net Debt to EBITDA		 -0.44 -0.45 -0.36 -0.47 -0.59 -0.37 -0.36 -0.13 -0.29 -0.30 -0.24
Long-Term Debt to EBITDA		 0.38 0.37 0.39 0.39 0.35 0.34 0.31 0.48 0.38 0.28 0.27
Debt to NOPAT		 0.60 0.59 0.62 0.64 0.57 0.56 0.52 0.77 0.61 0.44 0.43
Net Debt to NOPAT		 -0.70 -0.70 -0.57 -0.76 -0.93 -0.59 -0.57 -0.20 -0.46 -0.46 -0.37
Long-Term Debt to NOPAT		 0.60 0.59 0.61 0.62 0.55 0.55 0.50 0.75 0.59 0.43 0.41
Altman Z-Score		 5.54 5.76 6.30 6.37 6.71 6.92 6.81 6.34 6.49 6.93 7.21
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.17 2.18 2.27 2.23 2.25 2.35 2.46 2.23 2.09 2.22 2.41
Quick Ratio		 1.88 1.87 1.91 1.94 1.95 2.01 2.10 1.84 1.76 1.83 1.97
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 16 71 -658 -718 -42 -685 -455 -2,075 -1,535 -894 -1,070
Operating Cash Flow to CapEx		 780.00% 743.88% 52.94% 1,134.25% 944.87% 120.25% 331.65% 1,512.50% 1,108.43% 5,714.29% 594.03%
Free Cash Flow to Firm to Interest Expense		 1.95 7.86 -65.79 -65.25 -3.86 -62.30 -45.55 -148.19 -80.79 -74.53 -118.91
Operating Cash Flow to Interest Expense		 87.75 81.00 3.60 75.27 67.00 8.64 26.20 60.50 48.42 33.33 44.22
Operating Cash Flow Less CapEx to Interest Expense		 76.50 70.11 -3.20 68.64 59.91 1.45 18.30 56.50 44.05 32.75 36.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.09 1.09 1.10 1.10 1.07 1.06 1.05 1.02 1.03 1.05 1.06
Accounts Receivable Turnover		 5.28 5.26 5.14 5.19 5.06 5.12 4.99 4.85 4.99 4.98 4.89
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 17.10 17.08 17.57 18.05 18.01 18.06 18.38 18.95 19.33 19.85 20.64
Accounts Payable Turnover		 34.53 34.42 37.35 36.81 36.34 40.66 41.04 40.52 38.28 42.82 46.74
Days Sales Outstanding (DSO)		 69.07 69.38 70.95 70.37 72.09 71.29 73.21 75.33 73.13 73.22 74.61
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 10.57 10.60 9.77 9.92 10.04 8.98 8.89 9.01 9.53 8.52 7.81
Cash Conversion Cycle (CCC)		 58.50 58.78 61.18 60.45 62.05 62.32 64.31 66.32 63.59 64.70 66.80
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,741 11,090 11,693 11,363 11,319 12,298 12,696 14,008 13,403 13,837 14,392
Invested Capital Turnover		 1.85 1.79 1.74 1.81 1.75 1.65 1.58 1.53 1.60 1.54 1.51
Increase / (Decrease) in Invested Capital		 485 481 1,113 1,220 578 1,208 1,003 2,645 2,084 1,539 1,696
Enterprise Value (EV)		 26,859 28,691 31,247 32,141 35,363 35,255 32,474 37,811 37,124 36,776 37,568
Market Capitalization		 28,427 30,262 32,457 33,660 37,271 36,447 33,676 38,255 38,129 37,838 38,464
Book Value per Share		 $23.95 $24.86 $25.43 $25.51 $26.38 $27.14 $27.95 $29.16 $29.06 $30.12 $31.01
Tangible Book Value per Share		 $10.57 $10.52 $11.05 $11.28 $11.95 $11.92 $12.82 $11.38 $11.81 $12.81 $13.48
Total Capital		 13,669 13,995 14,213 14,163 14,389 14,624 14,987 16,123 15,736 15,923 16,310
Total Debt		 1,360 1,334 1,310 1,281 1,162 1,134 1,089 1,671 1,328 1,024 1,022
Total Long-Term Debt		 1,352 1,318 1,286 1,248 1,129 1,101 1,056 1,638 1,295 991 989
Net Debt		 -1,568 -1,571 -1,210 -1,519 -1,908 -1,192 -1,202 -444 -1,005 -1,062 -896
Capital Expenditures (CapEx)		 90 98 68 73 78 79 79 56 83 7.00 67
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,426 1,442 1,824 1,601 1,571 1,864 2,127 2,168 1,709 2,180 2,675
Debt-free Net Working Capital (DFNWC)		 3,927 3,923 3,919 3,969 4,206 4,107 4,332 4,193 3,952 4,172 4,483
Net Working Capital (NWC)		 3,919 3,907 3,895 3,936 4,173 4,074 4,299 4,160 3,919 4,139 4,450
Net Nonoperating Expense (NNE)		 -20 -28 -7.89 -23 -22 -23 -18 -12 3.04 -18 -19
Net Nonoperating Obligations (NNO)		 -1,568 -1,571 -1,210 -1,519 -1,908 -1,192 -1,202 -444 -1,005 -1,062 -896
Total Depreciation and Amortization (D&A)		 141 132 141 146 136 133 133 133 143 136 139
Debt-free, Cash-free Net Working Capital to Revenue		 7.34% 7.43% 9.41% 8.24% 8.12% 9.66% 11.04% 11.17% 8.66% 10.85% 13.06%
Debt-free Net Working Capital to Revenue		 20.21% 20.21% 20.21% 20.42% 21.73% 21.28% 22.49% 21.60% 20.02% 20.77% 21.88%
Net Working Capital to Revenue		 20.17% 20.12% 20.08% 20.25% 21.56% 21.11% 22.32% 21.43% 19.86% 20.60% 21.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.02 $1.14 $0.92 $1.04 $1.11 $1.10 $1.14 $1.17 $1.11 $1.34 $1.31
Adjusted Weighted Average Basic Shares Outstanding		 518M 509M 506M 504M 505M 497M 497M 496M 496M 494M 492M
Adjusted Diluted Earnings per Share		 $1.01 $1.14 $0.91 $1.04 $1.12 $1.10 $1.14 $1.17 $1.10 $1.34 $1.31
Adjusted Weighted Average Diluted Shares Outstanding		 519M 509M 507M 505M 505M 498M 498M 496M 497M 495M 492M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 509.29M 507.48M 505.04M 501.41M 497.84M 497.20M 495.66M 495.82M 494.62M 492.94M 488.40M
Normalized Net Operating Profit after Tax (NOPAT)		 501 552 547 555 565 540 570 596 585 598 626
Normalized NOPAT Margin		 10.34% 11.47% 11.20% 11.33% 11.88% 11.34% 11.75% 11.81% 11.51% 11.69% 11.93%
Pre Tax Income Margin		 14.76% 15.34% 12.01% 14.56% 15.74% 15.17% 15.01% 14.83% 14.56% 17.05% 16.05%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 86.88 79.67 56.70 62.91 66.00 63.91 70.80 52.21 38.47 71.17 92.00
NOPAT to Interest Expense		 62.57 61.30 45.51 45.66 48.68 47.52 54.75 40.73 28.90 53.72 69.54
EBIT Less CapEx to Interest Expense		 75.63 68.78 49.90 56.27 58.91 56.73 62.90 48.21 34.11 70.58 84.56
NOPAT Less CapEx to Interest Expense		 51.32 50.41 38.71 39.02 41.59 40.34 46.85 36.73 24.53 53.14 62.09
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 24.63% 24.75% 26.36% 27.96% 27.80% 28.30% 27.06% 26.47% 26.79% 25.63% 24.92%
Augmented Payout Ratio		 86.72% 75.47% 74.97% 78.99% 77.85% 74.90% 65.19% 60.39% 53.79% 54.52% 64.86%

Key Financial Trends

Cognizant Technology Solutions (NASDAQ: CTSH) has demonstrated steady growth and financial strength over the past four years, as reflected in the latest quarterly financial results through Q2 2025.

  • Revenue growth: Operating revenue increased from approximately $4.8 billion in Q2 2022 to $5.245 billion in Q2 2025, showing a consistent upward trend over the last three years.
  • Profitability improvement: Net income has generally trended upward, reaching $645 million in Q2 2025, up from $463 million in Q2 2022, reflecting growing profitability.
  • Strong gross profit: Gross profit margins remain healthy, with gross profit around $1.77 billion or approximately 33.7% margin in Q2 2025, stable compared to prior years.
  • Operating income growth: Operating income was $817 million in Q2 2025, up from $577 million in Q2 2024 and $505-$750 million range in prior years, indicating improved operational performance.
  • Robust operating cash flow: Net cash from operating activities remained strong in recent quarters, $398 million in Q2 2025 and consistently above $400 million in prior quarters, supporting liquidity and investments.
  • Healthy balance sheet: Total assets hit $20.16 billion in Q2 2025, increasing from about $18 billion in early 2022. Total equity also grew, reaching nearly $15.3 billion, demonstrating solid capitalization.
  • Moderate debt levels: Long-term debt has remained manageable around $550 to $600 million, with current liabilities properly covered by current assets which totaled about $7.6 billion in Q2 2025.
  • Consistent dividends: The company maintained dividends around $0.29 to $0.31 per share over recent periods, reflecting a commitment to shareholder returns, though this is a standard practice.
  • Share repurchases: Cognizant has actively repurchased common shares ($368 million repurchased in Q2 2025), which may enhance shareholder value, though this also reduces cash reserves.
  • Operating assets and liabilities volatility: The temporal changes in working capital show some fluctuations, with notable negative changes in operating assets/liabilities impacting operating cash flow in some quarters, which may reflect working capital management challenges.

Summary: Cognizant Technology Solutions has shown consistent revenue and earnings growth over the last several years, supported by strong gross margins and improving operating income. Its cash flow from operations remains robust, enabling continued investments and shareholder returns through dividends and share repurchases. The balance sheet reflects a well-capitalized company with manageable debt levels. Minor volatility in working capital changes should be monitored, but overall, the financial health of Cognizant appears solid heading into mid-2025.

08/28/25 08:32 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Cognizant Technology Solutions' Financials

When does Cognizant Technology Solutions' fiscal year end?

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

How has Cognizant Technology Solutions' net income changed over the last 10 years?

Cognizant Technology Solutions' net income appears to be on an upward trend, with a most recent value of $2.24 billion in 2024, rising from $1.44 billion in 2014. The previous period was $2.13 billion in 2023. Check out Cognizant Technology Solutions' forecast to explore projected trends and price targets.

What is Cognizant Technology Solutions' operating income?
Cognizant Technology Solutions' total operating income in 2024 was $2.89 billion, based on the following breakdown:
  • Total Gross Profit: $6.78 billion
  • Total Operating Expenses: $3.89 billion
How has Cognizant Technology Solutions' revenue changed over the last 10 years?

Over the last 10 years, Cognizant Technology Solutions' total revenue changed from $10.26 billion in 2014 to $19.74 billion in 2024, a change of 92.3%.

How much debt does Cognizant Technology Solutions have?

Cognizant Technology Solutions' total liabilities were at $5.56 billion at the end of 2024, a 5.7% increase from 2023, and a 48.7% increase since 2014.

How much cash does Cognizant Technology Solutions have?

In the past 10 years, Cognizant Technology Solutions' cash and equivalents has ranged from $1.16 billion in 2018 to $2.68 billion in 2020, and is currently $2.23 billion as of their latest financial filing in 2024.

How has Cognizant Technology Solutions' book value per share changed over the last 10 years?

Over the last 10 years, Cognizant Technology Solutions' book value per share changed from 12.71 in 2014 to 29.06 in 2024, a change of 128.6%.


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This page (NASDAQ:CTSH) was last updated on 8/28/2025 by MarketBeat.com Staff
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