COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

Cash flow Cognizant Technology Solutions Corporation

Equities

CTSH

US1924461023

IT Services & Consulting

Market Closed - Nasdaq Other stock markets 20:00:00 13/03/2026 GMT			5-day change	1st Jan Change
60.37 ^USD	-1.32%		-8.89%	-27.27%

03-13	TD Cowen Adjusts PT on Cognizant Technology Solutions to $71 From $85, Maintains Hold Rating	MT
03-09	UBS Adjusts Cognizant Technology Solutions PT to $73 From $75	MT

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Published financial data: COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	18.51B	19.43B	19.35B	19.74B	21.11B
Total Revenues	18.51B	19.43B	19.35B	19.74B	21.11B
Cost of Goods Sold, Total	11.59B	12.39B	12.66B	12.96B	13.99B
Gross Profit	6.91B	7.04B	6.69B	6.78B	7.12B
Selling General & Admin Expenses, Total	3.53B	3.44B	3.24B	3.22B	3.24B
Depreciation & Amortization - (IS)	574M	569M	519M	529M	550M
Other Operating Expenses, Total	4.11B	4.01B	3.75B	3.75B	3.79B
Operating Income	2.81B	3.03B	2.94B	3.03B	3.33B
Interest Expense, Total	-9M	-19M	-41M	-54M	-37M
Interest And Investment Income	30M	59M	126M	119M	105M
Net Interest Expenses	21M	40M	85M	65M	68M
Income (Loss) On Equity Invest.	3M	4M	7M	15M	9M
Currency Exchange Gains (Loss)	-20M	7M	2M	-19M	18M
Other Non Operating Income (Expenses)	-	1M	11M	-	4M
EBT, Excl. Unusual Items	2.81B	3.08B	3.04B	3.09B	3.43B
Restructuring Charges	-	-	-229M	-134M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	62M
Asset Writedown	-11M	-59M	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	30M	1M	-17M	-	-
EBT, Incl. Unusual Items	2.83B	3.02B	2.79B	2.95B	3.49B
Income Tax Expense	693M	730M	668M	713M	1.26B
Earnings From Continuing Operations	2.14B	2.29B	2.13B	2.24B	2.23B
Net Income to Company	2.14B	2.29B	2.13B	2.24B	2.23B
Net Income - (IS)	2.14B	2.29B	2.13B	2.24B	2.23B
Net Income to Common Incl Extra Items	2.14B	2.29B	2.13B	2.24B	2.23B
Net Income to Common Excl. Extra Items	2.14B	2.29B	2.13B	2.24B	2.23B
Per Share Items
Net EPS - Basic	4.06	4.42	4.21	4.52	4.57
Basic EPS - Continuing Operations	4.06	4.42	4.21	4.52	4.57
Basic Weighted Average Shares Outstanding	527M	518M	505M	496M	488M
Net EPS - Diluted	4.05	4.41	4.21	4.51	4.56
Diluted EPS - Continuing Operations	4.05	4.41	4.21	4.51	4.56
Diluted Weighted Average Shares Outstanding	528M	519M	505M	497M	489M
Normalized Basic EPS	3.33	3.71	3.76	3.89	4.39
Normalized Diluted EPS	3.33	3.71	3.76	3.88	4.38
Dividend Per Share	0.99	1.1	1.17	1.21	1.26
Payout Ratio	23.82	24.63	27.8	26.79	27.35
Supplemental Items
EBITDA	3.35B	3.56B	3.42B	3.52B	3.83B
EBITA	2.99B	3.21B	3.1B	3.21B	3.54B
EBIT	2.81B	3.03B	2.94B	3.03B	3.33B
EBITDAR	3.66B	3.84B	3.74B	3.75B	4.05B
Effective Tax Rate - (Ratio)	24.49	24.17	23.91	24.14	36.07
Current Domestic Taxes	210M	492M	522M	426M	355M
Current Foreign Taxes	456M	511M	485M	642M	576M
Total Current Taxes	666M	1B	1.01B	1.07B	931M
Deferred Domestic Taxes	-50M	-240M	-354M	-229M	306M
Deferred Foreign Taxes	77M	-33M	15M	-126M	21M
Total Deferred Taxes	27M	-273M	-339M	-355M	327M
Normalized Net Income	1.76B	1.92B	1.9B	1.93B	2.14B
Non-Cash Pension Expense	70M	45M	56M	25M	23M
Supplemental Operating Expense Items
Net Rental Expense, Total	315M	277M	319M	227M	213M
Imputed Operating Lease Interest Expense	13.2M	26.3M	72.51M	69.01M	47.1M
Imputed Operating Lease Depreciation	302M	251M	246M	158M	166M
Stock-Based Comp., COGS (Total)	49M	33M	30M	26M	26M
Stock-Based Comp., SG&A Exp. (Total)	197M	228M	153M	150M	155M
Stock-Based Comp., Other (Total)	-	-	-7M	-1M	-
Total Stock-Based Compensation	246M	261M	176M	175M	181M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.79B	2.19B	2.62B	2.23B	1.9B
Short Term Investments	927M	310M	14M	12M	13M
Total Cash And Short Term Investments	2.72B	2.5B	2.64B	2.24B	1.91B
Accounts Receivable, Total	3.87B	4.12B	3.85B	4.06B	4.44B
Other Receivables	-	-	-	-	-
Total Receivables	3.87B	4.12B	3.85B	4.06B	4.44B
Other Current Assets, Total	756M	643M	1.02B	1.2B	1.46B
Total Current Assets	7.34B	7.27B	7.51B	7.5B	7.82B
Gross Property Plant And Equipment	4.6B	4.69B	4.43B	4.33B	4.5B
Accumulated Depreciation	-2.5B	-2.72B	-2.77B	-2.79B	-3B
Net Property Plant And Equipment	2.1B	1.98B	1.66B	1.55B	1.51B
Long-term Investments	66M	70M	80M	90M	111M
Goodwill	5.62B	5.71B	6.08B	6.95B	7.11B
Other Intangibles, Total	1.22B	1.17B	1.15B	1.6B	1.42B
Deferred Tax Assets Long-Term	404M	642M	993M	1.25B	967M
Deferred Charges Long-Term	394M	265M	245M	209M	161M
Other Long-Term Assets, Total	704M	754M	766M	817M	1.61B
Total Assets	17.85B	17.85B	18.48B	19.97B	20.69B
Liabilities
Accounts Payable, Total	361M	360M	337M	340M	308M
Accrued Expenses, Total	2.06B	1.83B	1.9B	1.92B	2B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	38M	8M	33M	33M	33M
Current Portion of Leases	203M	179M	161M	160M	163M
Current Income Taxes Payable	74M	217M	27M	100M	18M
Unearned Revenue Current, Total	403M	398M	385M	450M	501M
Other Current Liabilities	387M	352M	492M	585M	636M
Total Current Liabilities	3.53B	3.35B	3.33B	3.58B	3.66B
Long-Term Debt	626M	638M	606M	875M	543M
Long-Term Leases	788M	722M	539M	435M	435M
Unearned Revenue Non Current	40M	19M	42M	30M	37M
Deferred Tax Liability Non Current	218M	180M	226M	154M	168M
Other Non Current Liabilities	660M	637M	510M	479M	835M
Total Liabilities	5.86B	5.54B	5.26B	5.56B	5.68B
Common Stock, Total	5M	5M	5M	5M	5M
Additional Paid In Capital	27M	15M	15M	13M	12M
Retained Earnings	11.92B	12.59B	13.3B	14.69B	15.16B
Comprehensive Income and Other	37M	-299M	-94M	-296M	-160M
Total Common Equity	11.99B	12.31B	13.23B	14.41B	15.02B
Total Equity	11.99B	12.31B	13.23B	14.41B	15.02B
Total Liabilities And Equity	17.85B	17.85B	18.48B	19.97B	20.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	525M	509M	498M	495M	478M
ECS Total Common Shares Outstanding	525M	509M	498M	495M	479M
Book Value / Share	22.84	24.18	26.56	29.11	31.35
Tangible Book Value	5.15B	5.43B	5.99B	5.86B	6.49B
Tangible Book Value Per Share	9.82	10.67	12.03	11.83	13.55
Total Debt	1.66B	1.55B	1.34B	1.5B	1.17B
Net Debt	-1.06B	-954M	-1.3B	-740M	-740M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-212M	-206M	-221M	-231M	-250M
Debt Equivalent Oper. Leases	2.52B	2.22B	2.55B	1.82B	1.7B
Equity Method Investments, Total	63M	68M	74M	-	104M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	7M	7M	7M	6M	6M
Buildings, Total	777M	771M	769M	736M	719M
Machinery, Total	1.41B	1.5B	1.53B	1.53B	1.61B
Full Time Employees	331K	355K	348K	337K	352K
Accumulated Allowance for Doubtful Accounts (Supple)	50M	43M	32M	26M	23M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.14B	2.29B	2.13B	2.24B	2.23B
Depreciation & Amortization - CF	359M	348M	317M	305M	289M
Amortization of Goodwill and Intangible Assets - (CF)	182M	184M	165M	188M	218M
Depreciation & Amortization, Total	541M	532M	482M	493M	507M
Amortization of Deferred Charges, Total - (CF)	33M	37M	37M	36M	43M
(Gain) Loss From Sale Of Asset	-	-	-	-	-62M
Asset Writedown & Restructuring Costs	-	-	36M	13M	-
Stock-Based Compensation (CF)	246M	261M	176M	175M	181M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	26M	-228M	-338M	-323M	322M
Change In Accounts Receivable	-407M	-238M	-43M	-49M	-366M
Change In Accounts Payable	-35M	-11M	-23M	-23M	-2M
Change in Unearned Revenues	19M	-26M	-4M	44M	55M
Change in Other Net Operating Assets	-65M	-49M	-119M	-482M	-25M
Cash from Operations	2.5B	2.57B	2.33B	2.12B	2.88B
Capital Expenditure	-279M	-332M	-317M	-297M	-288M
Sale of Property, Plant, and Equipment	-	-	-	-	70M
Cash Acquisitions	-970M	-367M	-409M	-1.62B	-
Divestitures	-	28M	-	-	-
Investment in Marketable and Equity Securities, Total	-915M	565M	395M	266M	-12M
Cash from Investing	-2.16B	-106M	-331M	-1.65B	-230M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	650M	-	600M	-
Total Debt Issued	-	650M	-	600M	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-53M	-686M	-25M	-373M	-342M
Total Debt Repaid	-53M	-686M	-25M	-373M	-342M
Issuance of Common Stock	130M	86M	71M	63M	58M
Repurchase of Common Stock	-771M	-1.42B	-1.06B	-605M	-1.38B
Common Dividends Paid	-509M	-564M	-591M	-600M	-610M
Common & Preferred Stock Dividends Paid	-509M	-564M	-591M	-600M	-610M
Other Financing Activities, Total	-	-3M	-	-	-
Cash from Financing	-1.2B	-1.94B	-1.61B	-915M	-2.27B
Foreign Exchange Rate Adjustments	-16M	-21M	33M	-49M	22M
Net Change in Cash	-888M	502M	423M	-486M	403M
Supplemental Items
Cash Interest Paid	7M	15M	40M	53M	36M
Cash Income Tax Paid (Refund)	625M	813M	1.24B	1.12B	985M
Levered Free Cash Flow	1.8B	2.11B	2.06B	2.13B	1.93B
Unlevered Free Cash Flow	1.81B	2.12B	2.09B	2.16B	1.95B
Change In Net Working Capital	488M	270M	127M	137M	572M
Net Debt Issued / Repaid	-53M	-36M	-25M	227M	-342M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	10.09	10.59	10.1	9.84	10.23
Return on Total Capital	13.36	13.75	12.91	12.41	12.96
Return On Equity %	18.72	18.85	16.65	16.21	15.16
Return on Common Equity	18.72	18.85	16.65	16.21	15.16
Margin Analysis
Gross Profit Margin %	37.36	36.23	34.56	34.34	33.72
SG&A Margin	19.09	17.73	16.72	16.33	15.35
EBITDA Margin %	18.09	18.31	17.66	17.83	18.16
EBITA Margin %	16.15	16.52	16.02	16.28	16.79
EBIT Margin %	15.17	15.58	15.17	15.33	15.76
Income From Continuing Operations Margin %	11.55	11.79	10.99	11.35	10.56
Net Income Margin %	11.55	11.79	10.99	11.35	10.56
Net Avail. For Common Margin %	11.55	11.79	10.99	11.35	10.56
Normalized Net Income Margin	9.49	9.9	9.82	9.78	10.14
Levered Free Cash Flow Margin	9.74	10.85	10.64	10.78	9.13
Unlevered Free Cash Flow Margin	9.77	10.91	10.78	10.95	9.24
Asset Turnover
Asset Turnover	1.06	1.09	1.07	1.03	1.04
Fixed Assets Turnover	8.47	9.52	10.65	12.32	13.83
Receivables Turnover (Average Receivables)	5.09	4.86	5.06	4.99	4.97
Short Term Liquidity
Current Ratio	2.08	2.17	2.25	2.09	2.14
Quick Ratio	1.87	1.98	1.95	1.76	1.74
Operating Cash Flow to Current Liabilities	0.71	0.77	0.7	0.59	0.79
Days Sales Outstanding (Average Receivables)	71.68	75.05	72.09	73.33	73.47
Average Days Payable Outstanding	11.81	10.62	10.04	9.56	8.45
Long Term Solvency
Total Debt/Equity	13.8	12.57	10.12	10.43	7.82
Total Debt / Total Capital	12.13	11.16	9.19	9.45	7.25
LT Debt/Equity	11.79	11.05	8.66	9.09	6.51
Long-Term Debt / Total Capital	10.36	9.82	7.86	8.23	6.04
Total Liabilities / Total Assets	32.83	31.05	28.44	27.84	27.44
EBIT / Interest Expense	311.89	159.26	71.59	56.04	89.92
EBITDA / Interest Expense	407	201.84	91.12	69.37	109.38
(EBITDA - Capex) / Interest Expense	376	184.37	83.39	63.87	101.59
Total Debt / EBITDA	0.45	0.4	0.36	0.4	0.29
Net Debt / EBITDA	-0.29	-0.25	-0.35	-0.2	-0.18
Total Debt / (EBITDA - Capex)	0.49	0.44	0.39	0.44	0.31
Net Debt / (EBITDA - Capex)	-0.31	-0.27	-0.38	-0.21	-0.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.14	4.98	-0.39	1.98	6.95
Gross Profit, 1 Yr. Growth %	14.09	1.81	-4.97	1.33	5
EBITDA, 1 Yr. Growth %	14.89	6.27	-3.96	2.98	8.95
EBITA, 1 Yr. Growth %	17.82	7.39	-3.43	3.68	10.3
EBIT, 1 Yr. Growth %	17.69	7.8	-3.01	3.1	9.95
Earnings From Cont. Operations, 1 Yr. Growth %	53.52	7.16	-7.16	5.36	-0.45
Net Income, 1 Yr. Growth %	53.52	7.16	-7.16	5.36	-0.45
Normalized Net Income, 1 Yr. Growth %	18.76	9.5	-1.23	1.55	10.98
Diluted EPS Before Extra, 1 Yr. Growth %	57.59	8.89	-4.54	7.13	1.11
Accounts Receivable, 1 Yr. Growth %	13.67	6.59	1.4	5.46	9.36
Net Property, Plant and Equip., 1 Yr. Growth %	-7.07	-6.04	-16.08	-6.81	-2.59
Total Assets, 1 Yr. Growth %	5.49	0	3.53	8.02	3.64
Tangible Book Value, 1 Yr. Growth %	8.28	5.39	10.35	-2.29	10.86
Common Equity, 1 Yr. Growth %	10.66	2.65	7.46	8.93	4.21
Cash From Operations, 1 Yr. Growth %	-24.37	2.93	-9.27	-8.84	35.73
Capital Expenditures, 1 Yr. Growth %	-29.9	19	-4.52	-6.31	-3.03
Levered Free Cash Flow, 1 Yr. Growth %	-37.67	16.96	-2.26	3.29	-9.41
Unlevered Free Cash Flow, 1 Yr. Growth %	-37.8	17.26	-1.6	3.64	-9.76
Dividend Per Share, 1 Yr. Growth %	12.5	11.11	6.36	4.31	4.13
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.01	8.01	2.26	0.79	4.44
Gross Profit, 2 Yr. CAGR %	6.04	8.48	-1.56	-1.46	3.15
EBITDA, 2 Yr. CAGR %	0.86	11.58	0.74	0.27	6.19
EBITA, 2 Yr. CAGR %	0.68	13.75	1.52	0.98	7.23
EBIT, 2 Yr. CAGR %	0.36	13.99	1.91	0.97	6.78
Earnings From Cont. Operations, 2 Yr. CAGR %	7.71	28.26	-0.26	-1.1	2.42
Net Income, 2 Yr. CAGR %	7.71	28.26	-0.26	-1.1	2.42
Normalized Net Income, 2 Yr. CAGR %	-0.12	15.41	3.64	1.1	6.46
Diluted EPS Before Extra, 2 Yr. CAGR %	10.95	30.99	1.95	1.13	4.08
Accounts Receivable, 2 Yr. CAGR %	3.79	10.07	-0.23	3.41	7.39
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.97	-6.55	-11.2	-11.57	-4.72
Total Assets, 2 Yr. CAGR %	4.96	2.71	1.75	5.76	5.81
Tangible Book Value, 2 Yr. CAGR %	-7.34	6.83	7.84	3.84	4.08
Common Equity, 2 Yr. CAGR %	4.3	6.58	5.03	8.19	6.54
Cash From Operations, 2 Yr. CAGR %	-0.08	-11.77	-3.36	-9.05	11.24
Capital Expenditures, 2 Yr. CAGR %	-15.64	-8.67	6.59	-5.42	-4.68
Levered Free Cash Flow, 2 Yr. CAGR %	-5.76	-14.09	6.57	1.35	-3.02
Unlevered Free Cash Flow, 2 Yr. CAGR %	-5.99	-14.08	7.06	1.86	-3.04
Dividend Per Share, 2 Yr. CAGR %	11.24	11.8	8.71	5.85	3.77
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.7	5	5.14	2.17	2.8
Gross Profit, 3 Yr. CAGR %	3.22	4.61	3.8	-0.61	0.65
EBITDA, 3 Yr. CAGR %	0.44	2.63	6.14	1.48	3.08
EBITA, 3 Yr. CAGR %	0.2	2.87	7.71	2.23	3.99
EBIT, 3 Yr. CAGR %	-0.15	2.78	8.01	2.31	3.88
Earnings From Cont. Operations, 3 Yr. CAGR %	0.57	7.53	15.16	1.58	-0.88
Net Income, 3 Yr. CAGR %	0.57	7.53	15.16	1.58	-0.88
Normalized Net Income, 3 Yr. CAGR %	-0.13	2.99	9.57	2.94	4.29
Diluted EPS Before Extra, 3 Yr. CAGR %	4	10.26	17.88	3.65	1.12
Accounts Receivable, 3 Yr. CAGR %	3.43	4.71	4.2	1.63	5.35
Net Property, Plant and Equip., 3 Yr. CAGR %	14.71	-4.01	-9.84	-9.76	-8.67
Total Assets, 3 Yr. CAGR %	4.05	3.28	2.98	3.8	5.04
Tangible Book Value, 3 Yr. CAGR %	-8.8	-3.28	7.99	4.36	6.13
Common Equity, 3 Yr. CAGR %	1.63	3.75	6.87	6.31	6.85
Cash From Operations, 3 Yr. CAGR %	-1.26	0.91	-10.95	-5.22	3.93
Capital Expenditures, 3 Yr. CAGR %	-9.55	-5.39	-7.3	2.11	-4.63
Levered Free Cash Flow, 3 Yr. CAGR %	1.88	1.28	-10.32	5.46	-2.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	1.66	1.2	-10.1	5.91	-2.17
Dividend Per Share, 3 Yr. CAGR %	7.36	11.2	9.96	6.92	5.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.53	5.58	3.72	3.29	4.86
Gross Profit, 5 Yr. CAGR %	5.15	4.46	1.25	1.97	3.54
EBITDA, 5 Yr. CAGR %	4.65	3.5	0.67	1.35	6.05
EBITA, 5 Yr. CAGR %	4.47	3.65	0.85	1.74	7.4
EBIT, 5 Yr. CAGR %	4.16	3.46	0.8	1.66	7.39
Earnings From Cont. Operations, 5 Yr. CAGR %	6.59	8.77	0.24	3.99	9.88
Net Income, 5 Yr. CAGR %	6.59	8.77	0.24	3.99	9.88
Normalized Net Income, 5 Yr. CAGR %	3.61	2.42	1.5	1.84	8.19
Diluted EPS Before Extra, 5 Yr. CAGR %	9.69	11.75	3.18	6.51	12.15
Accounts Receivable, 5 Yr. CAGR %	5.89	3.16	1.95	2.49	5.47
Net Property, Plant and Equip., 5 Yr. CAGR %	9.92	8.35	3.54	-7.11	-7.83
Total Assets, 5 Yr. CAGR %	4.59	3.24	3.13	4.26	4.1
Tangible Book Value, 5 Yr. CAGR %	-6.53	-4.91	-2.47	-0.49	6.41
Common Equity, 5 Yr. CAGR %	2.25	2.9	2.97	5.5	6.74
Cash From Operations, 5 Yr. CAGR %	8.69	1.3	-2.11	-3.2	-2.66
Capital Expenditures, 5 Yr. CAGR %	-1.44	3.17	-3.41	-5.4	-6.26
Levered Free Cash Flow, 5 Yr. CAGR %	7.2	4.83	3.87	0.96	-7.56
Unlevered Free Cash Flow, 5 Yr. CAGR %	7.07	4.77	3.92	1.11	-7.44
Dividend Per Share, 5 Yr. CAGR %	-	19.57	7.9	8.63	7.44