FirmAtlas
Company handbook · CTSH · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
CTSH · CIK 1058290 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
$66.03
+0.26 (+0.40%)
Close, Oct 16, 2026 · 52-week $37–87
Last fiscal year
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION reported revenue of $21.1B for the year ended Dec 31, 2025 (FY25), up 7.0% from FY24. Net income was $2.2B, operating cash flow $2.9B and free cash flow $2.6B. Source: 10-K filed Feb 12, 2026.
Market cap
$31.6B
P/E
14.2
EV/EBITDA
7.5x
P/B
2.1
Div yield
1.97%
ROIC
16.6%
Revenue 1Y
7.0%/yr
EPS 1Y
1.1%/yr
Shares 1Y
−3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEORavi Kumar S
HQTeaneck, NJ
AuditorPricewaterhouseCoopers LLP
Employees351,600
Year endsDecember
Revenue by segment · FY25
Health Care30%
Financial Services29%
Manufacturing Retail Logistics25%
All Other Segments16%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
2.8%
−3.5%
−0.4%
0.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$5.4B deployed
Capex
$585M
10.8%
Acquisitions
$1.6B
29.9%
Dividends
$1.2B
22.4%
Buybacks
$2.0B
36.8%
Operating cash flow over the period: $5.0B. Total debt changed by −$332M.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
19,736
21,108+7.0%
21,406
YoY
+7.0%
Operating income
2,892
3,389+17.2%
3,379
Operating margin
14.7%
16.1%+1.4 pp
—
EBITDA
3,434
3,939+14.7%
—
EBITDA margin
17.4%
18.7%+1.3 pp
—
Interest expense
54
37−31.5%
—
Interest coverage
63.59x
106.46x+42.87x
—
Net income
2,240
2,230−0.4%
2,229
YoY
−0.4%
Net margin
11.3%
10.6%−0.8 pp
—
EPS (diluted, $)
4.51
4.56+1.1%
4.61
YoY
+1.1%
Balance sheet
Total assets
19,966
20,692+3.6%
20,500
Cash & short-term investments
2,243
2,647+18.0%
—
Accounts receivable
4,059
4,439+9.4%
—
Net PP&E
994
933−6.1%
—
Other assets
12,670
12,673+0.0%
—
Total liabilities
5,558
5,677+2.1%
5,432
Accounts payable
340
308−9.4%
—
Total debt
908
576−36.6%
568
Other liabilities
4,310
4,793+11.2%
—
Shareholders’ equity
14,408
15,015+4.2%
15,068
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,124
2,883+35.7%
2,757
Net income
2,240
2,230−0.4%
—
Depreciation & amortization
542
550+1.5%
—
Stock-based compensation
175
181+3.4%
—
Working capital & other
(833)
(78)n/m
—
Cash from investing
(1,646)
(230)n/m
—
Capex
(297)
(288)n/m
—
PP&E sold
0
70n/m
—
Acquisitions
(1,615)
0n/m
—
Investments bought
0
0n/m
—
Investments sold / matured
0
0n/m
—
Other investing
266
(12)−104.5%
—
Cash from financing
(915)
(2,272)n/m
—
Debt raised
0
—
—
Dividends
(600)
(610)n/m
—
Buybacks
(605)
(1,378)n/m
—
Other financing
290
(284)−197.9%
—
Net change in cash
(486)
403n/m
—
Free cash flow (OCF − capex)
1,827
2,595+42.0%
2,470
Where the cash went
Operating cash flow
2,124
2,883+35.7%
2,757
Reinvested in the business
1,912
288−84.9%
—
% of operating cash flow
90.0%
10.0%
Capex
297
288−3.0%
287
Acquisitions
1,615
0−100.0%
—
Free cash flow
1,827
2,595+42.0%
2,470
YoY
+42.0%
Returned to shareholders
1,205
1,988+65.0%
—
% of free cash flow
66.0%
76.6%
Dividends
600
610+1.7%
—
Buybacks
605
1,378+127.8%
—
Change in total debt
—
(332)
—
Cash left over
—
275
—
FCF conversion (FCF ÷ net income)
81.6%
116.4%+34.8 pp
—
Owner earnings
—
2,080
—
Owner earnings margin
—
9.9%
—
Buyback yield
1.6%
3.5%+1.9 pp
—
Returns & ratios
ROIC (all capital)
16.8%
16.6%−0.1 pp
—
ROIC (operating)
46.5%
44.3%−2.2 pp
—
Net debt / EBITDA
−0.39x
−0.53x−0.14x
—
Debt / equity
0.06x
0.04x−0.02x
—
ROE
15.5%
14.9%−0.7 pp
—
ROA
11.2%
10.8%−0.4 pp
—
ROCE
17.7%
19.9%+2.2 pp
—
NOPAT
2,190
2,164−1.2%
—
Invested capital (operating)
4,713
5,064+7.4%
—
Invested capital (all)
13,073
12,944−1.0%
—
Reinvestment rate
—
16.2%
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
5,245
5,415
5,333
5,413
vs year-ago quarter
Operating income
817
866
853
843
Net income
645
274
648
662
vs year-ago quarter
Net margin
12.3%
5.1%
12.2%
12.2%
EPS (diluted, $)
1.31
0.56
1.35
1.39
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
20,164
20,134
20,692
20,500
Cash & equivalents
1,796
2,341
2,647
1,504
Total debt
592
584
576
568
Shareholders’ equity
15,288
14,897
15,015
15,068
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
398
1,227
858
274
Capex
67
67
77
76
Free cash flow
331
1,160
781
198
vs year-ago quarter