CTSHNasdaqServices-Computer Programming ServicesFiscal year ends December 31
COGNIZANT TECHNOLOGY SOLUTIONS CORP
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$66.79+0.76 (+1.15%)
Close on Oct 19, 2026
- Market cap
- $31.86B
- P/E (TTM)
- 14.5
- Dividend yield
- 1.86%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
33.7%−2.2 pts over 5 years
Operating margin
16.1%+3.4 pts over 5 years
Net margin
10.6%+2.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.0% | +2.8% | +4.9% | +5.4% | |
| Gross profit | +5.0% | +0.7% | +3.5% | – | |
| Operating income | +17.2% | +4.5% | +9.9% | +4.7% | |
| Net income | -0.4% | -0.9% | +9.9% | +3.2% | |
| EPS, diluted | +1.1% | +1.1% | +12.2% | +5.6% | |
| Free cash flow | +42.0% | +5.1% | -2.2% | +3.1% | |
| Dividend per share | +3.3% | +4.7% | +7.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 15.5% | 12.7% | 15.2% | |
| Return on assets | 11.4% | 8.4% | 11.0% | |
| Current ratio | 3.56 | 1.94 | 2.14 | |
| Debt to equity | 0.08 | 0.06 | 0.04 | |
| Net debt to EBITDA | -0.43× | -0.74× | -0.34× | |
| Interest coverage | 120.5× | 88.1× | 91.6× | |
| Capex to revenue | 2.2% | 2.4% | 1.4% | |
| Diluted shares | 610M | 541M | 489M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cognizant Technology Solutions generated $12.40B from operations and spent $9.63B on capital expenditure, dividends and share buybacks. 16% of that went back into the business.
Generated
$12.40B
Used
$9.63B
Capital expenditure$1.51B16%Dividends$2.87B30%Share buybacks$5.24B54%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.6%
×Asset turnover1.04×
×Equity multiplier1.38×
=Return on equity, FY202515.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.6% | 1.04× | 1.38× | 15.2% |
| FY2024 | 11.3% | 1.03× | 1.39× | 16.2% |
| FY2023 | 11.0% | 1.07× | 1.42× | 16.7% |
| FY2022 | 11.8% | 1.09× | 1.47× | 18.8% |
| FY2021 | 11.5% | 1.06× | 1.52× | 18.7% |
| FY2020 | 8.4% | 1.01× | 1.52× | 12.7% |
| FY2019 | 11.0% | 1.05× | 1.43× | 16.4% |
| FY2018 | 13.0% | 1.04× | 1.41× | 19.0% |
| FY2017 | 10.2% | 1.00× | 1.38× | 14.1% |
| FY2016 | 11.5% | 0.99× | 1.37× | 15.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.23B
- Cash generatingOperating cash flow above zero$2.88B
- Return on assets improvedROA up on the prior year12.1% → 11.2%
- Earnings backed by cashOperating cash flow above net income$2.88B vs $2.23B
- Less leverageLong-term debt to assets fell4.4% → 2.6%
- Better liquidityCurrent ratio rose2.09 → 2.14
- No dilutionShare count did not rise497M → 489M
- Gross margin improvedGross margin up on the prior year34.34% → 33.72%
- More efficientAsset turnover rose1.07 → 1.06