COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

Balance Sheet Cognizant Technology Solutions Corporation

Equities

CTSH

US1924461023

IT Services & Consulting

Market Closed - Nasdaq Other stock markets 21:00:00 22/01/2026 GMT			5-day change	1st Jan Change
84.61 ^USD	+0.69%		-2.41%	+1.94%

01-22	Citigroup Adjusts Price Target on Cognizant Technology Solutions to $86 From $75, Maintains Buy Rating	MT
01-14	Wells Fargo Adjusts Cognizant Technology Solutions Price Target to $98 From $87, Maintains Overweight Rating	MT

9.IByg01ysJmhqxF35XOKwbghSs085FBMmb5YGILYpeAY.aEv3lxP4cSQlhQ_KO6n8B2EK7AZYLGZgXfxZTvx9Hj9vV8-bZf1WWjyFGA

Published financial data: COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	16.65B	18.51B	19.43B	19.35B	19.74B
Total Revenues	16.65B	18.51B	19.43B	19.35B	19.74B
Cost of Goods Sold, Total	10.59B	11.59B	12.39B	12.66B	12.96B
Gross Profit	6.06B	6.91B	7.04B	6.69B	6.78B
Selling General & Admin Expenses, Total	3.12B	3.53B	3.44B	3.24B	3.22B
Depreciation & Amortization - (IS)	552M	574M	569M	519M	529M
Other Operating Expenses, Total	3.68B	4.11B	4.01B	3.75B	3.75B
Operating Income	2.38B	2.81B	3.03B	2.94B	3.03B
Interest Expense, Total	-24M	-9M	-19M	-41M	-54M
Interest And Investment Income	119M	30M	59M	126M	119M
Net Interest Expenses	95M	21M	40M	85M	65M
Income (Loss) On Equity Invest.	-	3M	4M	7M	15M
Currency Exchange Gains (Loss)	-116M	-20M	7M	2M	-19M
Other Non Operating Income (Expenses)	3M	-	1M	11M	-
EBT, Excl. Unusual Items	2.37B	2.81B	3.08B	3.04B	3.09B
Restructuring Charges	-215M	-	-	-229M	-134M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-14M	-11M	-59M	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-42M	30M	1M	-17M	-
EBT, Incl. Unusual Items	2.1B	2.83B	3.02B	2.79B	2.95B
Income Tax Expense	704M	693M	730M	668M	713M
Earnings From Continuing Operations	1.39B	2.14B	2.29B	2.13B	2.24B
Net Income to Company	1.39B	2.14B	2.29B	2.13B	2.24B
Net Income - (IS)	1.39B	2.14B	2.29B	2.13B	2.24B
Net Income to Common Incl Extra Items	1.39B	2.14B	2.29B	2.13B	2.24B
Net Income to Common Excl. Extra Items	1.39B	2.14B	2.29B	2.13B	2.24B
Per Share Items
Net EPS - Basic	2.58	4.06	4.42	4.21	4.52
Basic EPS - Continuing Operations	2.58	4.06	4.42	4.21	4.52
Basic Weighted Average Shares Outstanding	540M	527M	518M	505M	496M
Net EPS - Diluted	2.57	4.05	4.41	4.21	4.51
Diluted EPS - Continuing Operations	2.57	4.05	4.41	4.21	4.51
Diluted Weighted Average Shares Outstanding	541M	528M	519M	505M	497M
Normalized Basic EPS	2.74	3.33	3.71	3.76	3.89
Normalized Diluted EPS	2.73	3.33	3.71	3.76	3.88
Dividend Per Share	0.88	0.99	1.1	1.17	1.21
Payout Ratio	34.48	23.82	24.63	27.8	26.79
Supplemental Items
EBITDA	2.91B	3.35B	3.56B	3.42B	3.52B
EBITA	2.54B	2.99B	3.21B	3.1B	3.21B
EBIT	2.38B	2.81B	3.03B	2.94B	3.03B
EBITDAR	3.24B	3.66B	3.84B	3.74B	3.75B
Effective Tax Rate - (Ratio)	33.59	24.49	24.17	23.91	24.14
Current Domestic Taxes	137M	210M	492M	522M	426M
Current Foreign Taxes	383M	456M	511M	485M	642M
Total Current Taxes	520M	666M	1B	1.01B	1.07B
Deferred Domestic Taxes	-77M	-50M	-240M	-354M	-229M
Deferred Foreign Taxes	261M	77M	-33M	15M	-126M
Total Deferred Taxes	184M	27M	-273M	-339M	-355M
Normalized Net Income	1.48B	1.76B	1.92B	1.9B	1.93B
Non-Cash Pension Expense	35M	70M	45M	56M	25M
Supplemental Operating Expense Items
Net Rental Expense, Total	322M	315M	277M	319M	227M
Imputed Operating Lease Interest Expense	35.42M	13.2M	26.3M	72.51M	69.01M
Imputed Operating Lease Depreciation	287M	302M	251M	246M	158M
Stock-Based Comp., COGS (Total)	51M	49M	33M	30M	26M
Stock-Based Comp., SG&A Exp. (Total)	181M	197M	228M	153M	150M
Stock-Based Comp., Other (Total)	-	-	-	-7M	-1M
Total Stock-Based Compensation	232M	246M	261M	176M	175M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.68B	1.79B	2.19B	2.62B	2.23B
Short Term Investments	44M	927M	310M	14M	12M
Total Cash And Short Term Investments	2.72B	2.72B	2.5B	2.64B	2.24B
Accounts Receivable, Total	3.4B	3.87B	4.12B	3.85B	4.06B
Other Receivables	7M	-	-	-	-
Total Receivables	3.41B	3.87B	4.12B	3.85B	4.06B
Other Current Assets, Total	718M	756M	643M	1.02B	1.2B
Total Current Assets	6.85B	7.34B	7.27B	7.51B	7.5B
Gross Property Plant And Equipment	4.59B	4.6B	4.69B	4.43B	4.33B
Accumulated Depreciation	-2.32B	-2.5B	-2.72B	-2.77B	-2.79B
Net Property Plant And Equipment	2.26B	2.1B	1.98B	1.66B	1.55B
Long-term Investments	35M	66M	70M	80M	90M
Goodwill	5.03B	5.62B	5.71B	6.08B	6.95B
Other Intangibles, Total	1.05B	1.22B	1.17B	1.15B	1.6B
Deferred Tax Assets Long-Term	445M	404M	642M	993M	1.25B
Deferred Charges Long-Term	467M	394M	265M	245M	209M
Other Long-Term Assets, Total	784M	704M	754M	766M	817M
Total Assets	16.92B	17.85B	17.85B	18.48B	19.97B
Liabilities
Accounts Payable, Total	389M	361M	360M	337M	340M
Accrued Expenses, Total	2.02B	2.06B	1.83B	1.9B	1.92B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	38M	38M	8M	33M	33M
Current Portion of Leases	222M	203M	179M	161M	160M
Current Income Taxes Payable	34M	74M	217M	27M	100M
Unearned Revenue Current, Total	383M	403M	398M	385M	450M
Other Current Liabilities	451M	387M	352M	492M	585M
Total Current Liabilities	3.54B	3.53B	3.35B	3.33B	3.58B
Long-Term Debt	663M	626M	638M	606M	875M
Long-Term Leases	857M	788M	722M	539M	435M
Unearned Revenue Non Current	36M	40M	19M	42M	30M
Deferred Tax Liability Non Current	206M	218M	180M	226M	154M
Other Non Current Liabilities	785M	660M	637M	510M	479M
Total Liabilities	6.09B	5.86B	5.54B	5.26B	5.56B
Common Stock, Total	5M	5M	5M	5M	5M
Additional Paid In Capital	32M	27M	15M	15M	13M
Retained Earnings	10.69B	11.92B	12.59B	13.3B	14.69B
Comprehensive Income and Other	110M	37M	-299M	-94M	-296M
Total Common Equity	10.84B	11.99B	12.31B	13.23B	14.41B
Total Equity	10.84B	11.99B	12.31B	13.23B	14.41B
Total Liabilities And Equity	16.92B	17.85B	17.85B	18.48B	19.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	531M	525M	509M	498M	495M
ECS Total Common Shares Outstanding	530M	525M	509M	498M	495M
Book Value / Share	20.45	22.84	24.18	26.56	29.11
Tangible Book Value	4.76B	5.15B	5.43B	5.99B	5.86B
Tangible Book Value Per Share	8.98	9.82	10.67	12.03	11.83
Total Debt	1.78B	1.66B	1.55B	1.34B	1.5B
Net Debt	-944M	-1.06B	-954M	-1.3B	-740M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-186M	-212M	-206M	-221M	-231M
Debt Equivalent Oper. Leases	2.58B	2.52B	2.22B	2.55B	1.82B
Equity Method Investments, Total	35M	63M	68M	74M	-
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	7M	7M	7M	7M	6M
Buildings, Total	783M	777M	771M	769M	736M
Machinery, Total	1.4B	1.41B	1.5B	1.53B	1.53B
Full Time Employees	290K	331K	355K	348K	337K
Accumulated Allowance for Doubtful Accounts (Supple)	57M	50M	43M	32M	26M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	1.39B	2.14B	2.29B	2.13B	2.24B
Depreciation & Amortization - CF	377M	359M	348M	317M	305M
Amortization of Goodwill and Intangible Assets - (CF)	152M	182M	184M	165M	188M
Depreciation & Amortization, Total	529M	541M	532M	482M	493M
Amortization of Deferred Charges, Total - (CF)	30M	33M	37M	37M	36M
Asset Writedown & Restructuring Costs	-	-	-	36M	13M
Stock-Based Compensation (CF)	232M	246M	261M	176M	175M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	303M	26M	-228M	-338M	-323M
Change In Accounts Receivable	264M	-407M	-238M	-43M	-49M
Change In Accounts Payable	109M	-35M	-11M	-23M	-23M
Change in Unearned Revenues	65M	19M	-26M	-4M	44M
Change in Other Net Operating Assets	375M	-65M	-49M	-119M	-482M
Cash from Operations	3.3B	2.5B	2.57B	2.33B	2.12B
Capital Expenditure	-398M	-279M	-332M	-317M	-297M
Cash Acquisitions	-1.12B	-970M	-367M	-409M	-1.62B
Divestitures	-	-	28M	-	-
Investment in Marketable and Equity Securities, Total	283M	-915M	565M	395M	266M
Cash from Investing	-1.24B	-2.16B	-106M	-331M	-1.65B
Short Term Debt Issued, Total	1.74B	-	-	-	-
Long-Term Debt Issued, Total	-	-	650M	-	600M
Total Debt Issued	1.74B	-	650M	-	600M
Short Term Debt Repaid, Total	-1.74B	-	-	-	-
Long-Term Debt Repaid, Total	-50M	-53M	-686M	-25M	-373M
Total Debt Repaid	-1.79B	-53M	-686M	-25M	-373M
Issuance of Common Stock	142M	130M	86M	71M	63M
Repurchase of Common Stock	-1.62B	-771M	-1.42B	-1.06B	-605M
Common Dividends Paid	-480M	-509M	-564M	-591M	-600M
Common & Preferred Stock Dividends Paid	-480M	-509M	-564M	-591M	-600M
Other Financing Activities, Total	-	-	-3M	-	-
Cash from Financing	-2.01B	-1.2B	-1.94B	-1.61B	-915M
Foreign Exchange Rate Adjustments	-17M	-16M	-21M	33M	-49M
Net Change in Cash	35M	-888M	502M	423M	-486M
Supplemental Items
Cash Interest Paid	25M	7M	15M	40M	53M
Cash Income Tax Paid (Refund)	745M	625M	813M	1.24B	1.12B
Levered Free Cash Flow	2.89B	1.8B	2.11B	2.06B	2.13B
Unlevered Free Cash Flow	2.91B	1.81B	2.12B	2.09B	2.16B
Change In Net Working Capital	-1.02B	488M	270M	127M	137M
Net Debt Issued / Repaid	-50M	-53M	-36M	-25M	227M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	9	10.09	10.59	10.1	9.84
Return on Total Capital	11.76	13.36	13.75	12.91	12.41
Return On Equity %	12.74	18.72	18.85	16.65	16.21
Return on Common Equity	12.74	18.72	18.85	16.65	16.21
Margin Analysis
Gross Profit Margin %	36.39	37.36	36.23	34.56	34.34
SG&A Margin	18.75	19.09	17.73	16.72	16.33
EBITDA Margin %	17.5	18.09	18.31	17.66	17.83
EBITA Margin %	15.24	16.15	16.52	16.02	16.28
EBIT Margin %	14.32	15.17	15.58	15.17	15.33
Income From Continuing Operations Margin %	8.36	11.55	11.79	10.99	11.35
Net Income Margin %	8.36	11.55	11.79	10.99	11.35
Net Avail. For Common Margin %	8.36	11.55	11.79	10.99	11.35
Normalized Net Income Margin	8.88	9.49	9.9	9.82	9.78
Levered Free Cash Flow Margin	17.36	9.74	10.85	10.64	10.78
Unlevered Free Cash Flow Margin	17.45	9.77	10.91	10.78	10.95
Asset Turnover
Asset Turnover	1.01	1.06	1.09	1.07	1.03
Fixed Assets Turnover	7.4	8.47	9.52	10.65	12.32
Receivables Turnover (Average Receivables)	4.76	5.09	4.86	5.06	4.99
Short Term Liquidity
Current Ratio	1.94	2.08	2.17	2.25	2.09
Quick Ratio	1.73	1.87	1.98	1.95	1.76
Operating Cash Flow to Current Liabilities	0.93	0.71	0.77	0.7	0.59
Days Sales Outstanding (Average Receivables)	76.84	71.68	75.05	72.09	73.33
Average Days Payable Outstanding	10.85	11.81	10.62	10.04	9.56
Long Term Solvency
Total Debt/Equity	16.43	13.8	12.57	10.12	10.43
Total Debt / Total Capital	14.11	12.13	11.16	9.19	9.45
LT Debt/Equity	14.03	11.79	11.05	8.66	9.09
Long-Term Debt / Total Capital	12.05	10.36	9.82	7.86	8.23
Total Liabilities / Total Assets	35.97	32.83	31.05	28.44	27.84
EBIT / Interest Expense	99.38	311.89	159.26	71.59	56.04
EBITDA / Interest Expense	134.83	407	201.84	91.12	69.37
(EBITDA - Capex) / Interest Expense	118.25	376	184.37	83.39	63.87
Total Debt / EBITDA	0.55	0.45	0.4	0.36	0.4
Net Debt / EBITDA	-0.29	-0.29	-0.25	-0.35	-0.2
Total Debt / (EBITDA - Capex)	0.63	0.49	0.44	0.39	0.44
Net Debt / (EBITDA - Capex)	-0.33	-0.31	-0.27	-0.38	-0.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.78	11.14	4.98	-0.39	1.98
Gross Profit, 1 Yr. Growth %	-1.85	14.09	1.81	-4.97	1.33
EBITDA, 1 Yr. Growth %	-12.02	14.89	6.27	-3.96	2.98
EBITA, 1 Yr. Growth %	-14.58	17.82	7.39	-3.43	3.68
EBIT, 1 Yr. Growth %	-15.06	17.69	7.8	-3.01	3.1
Earnings From Cont. Operations, 1 Yr. Growth %	-24.43	53.52	7.16	-7.16	5.36
Net Income, 1 Yr. Growth %	-24.43	53.52	7.16	-7.16	5.36
Normalized Net Income, 1 Yr. Growth %	-16.63	18.76	9.5	-1.23	1.55
Diluted EPS Before Extra, 1 Yr. Growth %	-21.88	57.59	8.89	-4.54	7.13
Accounts Receivable, 1 Yr. Growth %	-5.24	13.67	6.59	1.4	5.46
Net Property, Plant and Equip., 1 Yr. Growth %	1.3	-7.07	-6.04	-16.08	-6.81
Total Assets, 1 Yr. Growth %	4.44	5.49	0	3.53	8.02
Tangible Book Value, 1 Yr. Growth %	-20.71	8.28	5.39	10.35	-2.29
Common Equity, 1 Yr. Growth %	-1.69	10.66	2.65	7.46	8.93
Cash From Operations, 1 Yr. Growth %	32.01	-24.37	2.93	-9.27	-8.84
Capital Expenditures, 1 Yr. Growth %	1.53	-29.9	19	-4.52	-6.31
Levered Free Cash Flow, 1 Yr. Growth %	41.58	-37.67	16.96	-2.26	3.29
Unlevered Free Cash Flow, 1 Yr. Growth %	41.19	-37.8	17.26	-1.6	3.64
Dividend Per Share, 1 Yr. Growth %	10	12.5	11.11	6.36	4.31
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.62	5.01	8.01	2.26	0.79
Gross Profit, 2 Yr. CAGR %	-1.82	6.04	8.48	-1.56	-1.46
EBITDA, 2 Yr. CAGR %	-6.09	0.86	11.58	0.74	0.27
EBITA, 2 Yr. CAGR %	-7.59	0.68	13.75	1.52	0.98
EBIT, 2 Yr. CAGR %	-8.04	0.36	13.99	1.91	0.97
Earnings From Cont. Operations, 2 Yr. CAGR %	-18.6	7.71	28.26	-0.26	-1.1
Net Income, 2 Yr. CAGR %	-18.6	7.71	28.26	-0.26	-1.1
Normalized Net Income, 2 Yr. CAGR %	-8.42	-0.12	15.41	3.64	1.1
Diluted EPS Before Extra, 2 Yr. CAGR %	-15.51	10.95	30.99	1.95	1.13
Accounts Receivable, 2 Yr. CAGR %	-1.34	3.79	10.07	-0.23	3.41
Net Property, Plant and Equip., 2 Yr. CAGR %	27.44	-2.97	-6.55	-11.2	-11.57
Total Assets, 2 Yr. CAGR %	3.34	4.96	2.71	1.75	5.76
Tangible Book Value, 2 Yr. CAGR %	-16.3	-7.34	6.83	7.84	3.84
Common Equity, 2 Yr. CAGR %	-2.61	4.3	6.58	5.03	8.19
Cash From Operations, 2 Yr. CAGR %	12.82	-0.08	-11.77	-3.36	-9.05
Capital Expenditures, 2 Yr. CAGR %	2.75	-15.64	-8.67	6.59	-5.42
Levered Free Cash Flow, 2 Yr. CAGR %	30.26	-5.76	-14.09	6.57	1.35
Unlevered Free Cash Flow, 2 Yr. CAGR %	29.95	-5.99	-14.08	7.06	1.86
Dividend Per Share, 2 Yr. CAGR %	4.88	11.24	11.8	8.71	5.85
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.98	4.7	5	5.14	2.17
Gross Profit, 3 Yr. CAGR %	2.31	3.22	4.61	3.8	-0.61
EBITDA, 3 Yr. CAGR %	-0.92	0.44	2.63	6.14	1.48
EBITA, 3 Yr. CAGR %	-1.85	0.2	2.87	7.71	2.23
EBIT, 3 Yr. CAGR %	-2.24	-0.15	2.78	8.01	2.31
Earnings From Cont. Operations, 3 Yr. CAGR %	-2.55	0.57	7.53	15.16	1.58
Net Income, 3 Yr. CAGR %	-2.55	0.57	7.53	15.16	1.58
Normalized Net Income, 3 Yr. CAGR %	-4.66	-0.13	2.99	9.57	2.94
Diluted EPS Before Extra, 3 Yr. CAGR %	0.52	4	10.26	17.88	3.65
Accounts Receivable, 3 Yr. CAGR %	-1.2	3.43	4.71	4.2	1.63
Net Property, Plant and Equip., 3 Yr. CAGR %	19.58	14.71	-4.01	-9.84	-9.76
Total Assets, 3 Yr. CAGR %	3.6	4.05	3.28	2.98	3.8
Tangible Book Value, 3 Yr. CAGR %	-12	-8.8	-3.28	7.99	4.36
Common Equity, 3 Yr. CAGR %	0.52	1.63	3.75	6.87	6.31
Cash From Operations, 3 Yr. CAGR %	11.08	-1.26	0.91	-10.95	-5.22
Capital Expenditures, 3 Yr. CAGR %	11.91	-9.55	-5.39	-7.3	2.11
Levered Free Cash Flow, 3 Yr. CAGR %	20.21	1.88	1.28	-10.32	5.46
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.07	1.66	1.2	-10.1	5.91
Dividend Per Share, 3 Yr. CAGR %	25.05	7.36	11.2	9.96	6.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.05	6.53	5.58	3.72	3.29
Gross Profit, 5 Yr. CAGR %	4.02	5.15	4.46	1.25	1.97
EBITDA, 5 Yr. CAGR %	3.34	4.65	3.5	0.67	1.35
EBITA, 5 Yr. CAGR %	2.53	4.47	3.65	0.85	1.74
EBIT, 5 Yr. CAGR %	2.17	4.16	3.46	0.8	1.66
Earnings From Cont. Operations, 5 Yr. CAGR %	-3.04	6.59	8.77	0.24	3.99
Net Income, 5 Yr. CAGR %	-3.04	6.59	8.77	0.24	3.99
Normalized Net Income, 5 Yr. CAGR %	1.82	3.61	2.42	1.5	1.84
Diluted EPS Before Extra, 5 Yr. CAGR %	-0.61	9.69	11.75	3.18	6.51
Accounts Receivable, 5 Yr. CAGR %	5.35	5.89	3.16	1.95	2.49
Net Property, Plant and Equip., 5 Yr. CAGR %	12.24	9.92	8.35	3.54	-7.11
Total Assets, 5 Yr. CAGR %	5.32	4.59	3.24	3.13	4.26
Tangible Book Value, 5 Yr. CAGR %	-4.56	-6.53	-4.91	-2.47	-0.49
Common Equity, 5 Yr. CAGR %	3.15	2.25	2.9	2.97	5.5
Cash From Operations, 5 Yr. CAGR %	8.57	8.69	1.3	-2.11	-3.2
Capital Expenditures, 5 Yr. CAGR %	7.83	-1.44	3.17	-3.41	-5.4
Levered Free Cash Flow, 5 Yr. CAGR %	11.49	7.2	4.83	3.87	0.96
Unlevered Free Cash Flow, 5 Yr. CAGR %	11.45	7.07	4.77	3.92	1.11
Dividend Per Share, 5 Yr. CAGR %	-	-	19.57	7.9	8.63