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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media and Technology. The company provides services including artificial intelligence (AI) and other technology services and solutions, consulting, application development, systems integration, quality engineering and assurance, engineering research and development, application maintenance, infrastructure, security, and business process services and automation. It also offers AI-led automation, which includes advisory, and process and IT automation solutions designed to simplify and accelerate automation adoption; business process outsourcing services, which help deliver business outcomes including revenue growth, increased customer and employee satisfaction, and cost savings; and Cognizant Moment, a digital experience service that uses AI to reimagine customer experiences and engineer strategies aimed at driving growth. In addition, the company develops, licenses, implements, and supports proprietary and third-party software products and platforms; and develops industry-specific products and services. It offers solution to healthcare providers and payers, life sciences companies, banking, capital markets, payments and insurance companies, manufacturers, automakers, retailers, consumer goods, travel and hospitality, communications, media and entertainment, education, information services, and technology companies, as well as businesses providing logistics, energy, and utility services. The company has a strategic partnership with Uniphore Technologies Inc. for the development of AI solutions that combine small language models and AI agents. Cognizant Technology Solutions Corporation was incorporated in 1988 and is headquartered in Teaneck, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $21.1B | $4.1B | $2.2B | $2.6B | 14.9% | 7.0% | -0.4% |
| 2024 | $19.7B | $3.5B | $2.2B | $1.8B | 15.5% | 2.0% | 5.4% |
| 2023 | $19.4B | $3.4B | $2.1B | $2.0B | 16.1% | -0.4% | -7.2% |
| 2022 | $19.4B | $3.6B | $2.3B | $2.2B | 18.6% | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 19,428 | 19,353 | 19,736 | 21,108 |
| Operating Revenue | - | 19,428 | 19,353 | 19,736 | 21,108 |
| Cost Of Revenue | - | 12,448 | 12,664 | 12,958 | 13,991 |
| Gross Profit | - | 6,980 | 6,689 | 6,778 | 7,117 |
| Operating Expense | - | 4,012 | 3,771 | 3,752 | 3,790 |
| Selling General And Administration | - | 3,443 | 3,252 | 3,223 | 3,240 |
| Total Expenses | - | 16,460 | 16,435 | 16,710 | 17,781 |
| Operating Income | - | 2,968 | 2,918 | 3,026 | 3,327 |
| Total Operating Income As Reported | - | 2,968 | 2,689 | 2,892 | 3,389 |
| EBITDA | - | 3,604 | 3,383 | 3,534 | 4,066 |
| Normalized EBITDA | - | 3,597 | 3,610 | 3,687 | 3,986 |
| EBIT | - | 3,035 | 2,828 | 2,992 | 3,516 |
| Interest Income | - | 59 | 126 | 119 | 105 |
| Interest Expense | - | 19 | 41 | 54 | 37 |
| Net Interest Income | - | 40 | 85 | 65 | 68 |
| Other Non Operating Income Expenses | - | 1 | 11 | - | 4 |
| Other Income Expense | - | 8 | -216 | -153 | 84 |
| Interest Income Non Operating | - | 59 | 126 | 119 | 105 |
| Interest Expense Non Operating | - | 19 | 41 | 54 | 37 |
| Net Non Operating Interest Income Expense | - | 40 | 85 | 65 | 68 |
| Pretax Income | - | 3,016 | 2,787 | 2,938 | 3,479 |
| Tax Provision | - | 730 | 668 | 713 | 1,258 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.69 | -54.48 | -37.13 | 28.93 |
| Net Income Continuous Operations | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Net Income From Continuing And Discontinued Operation | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Net Income | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Net Income Common Stockholders | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Net Income Including Noncontrolling Interests | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Normalized Income | - | 2,284.69 | 2,298.52 | 2,355.87 | 2,178.93 |
| Diluted NI Availto Com Stockholders | - | 2,290 | 2,126 | 2,240 | 2,230 |
| Basic Average Shares | - | 518 | 505 | 496 | 488 |
| Diluted Average Shares | - | 519 | 505 | 497 | 489 |
| Reconciled Depreciation | - | 569 | 555 | 542 | 550 |
| Reconciled Cost Of Revenue | - | 12,448 | 12,628 | 12,945 | 13,991 |
| Total Unusual Items | - | 7 | -227 | -153 | 80 |
| Total Unusual Items Excluding Goodwill | - | 7 | -227 | -153 | 80 |
| Earnings From Equity Interest Net Of Tax | - | 4 | 7 | 15 | 9 |
| Special Income Charges | - | 0 | -229 | -134 | 62 |
| Other Special Charges | - | - | 71 | 23 | - |
| Impairment Of Capital Assets | - | - | 1 | - | - |
| Restructuring And Mergern Acquisition | - | 0 | 229 | 134 | 0 |
| Gain On Sale Of Security | - | 7 | 2 | -19 | 18 |
| Depreciation Amortization Depletion Income Statement | - | 569 | 519 | 529 | 550 |
| Depreciation And Amortization In Income Statement | - | 569 | 519 | 529 | 550 |
| Gain On Sale Of Ppe | - | - | 0 | 0 | 62 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cognizant Technology Solutions Corporationthis co. | CTSH | $25.3B | 11.33↓ discount | 1.68 | 14.9% | 6.02 |
| Super Micro Computer, Inc. | SMCI | $28.2B | 26.89 | 4.48 | 16.6% | 20.92 |
| Fair Isaac Corporation | FICO | $27.1B | 41.50 | - | -37.3% | 31.54 |
| VeriSign, Inc. | VRSN | $26.7B | 32.38 | -12.41 | -38.3% | 23.99 |
| Atlassian Corporation |
| - |
| 2021 | - | - | - | - | - | - | - |
| TEAM |
| $25.8B |
| -100.35 |
| 19.14 |
| -19.1% |
| 1018.89 |
| HP Inc. | HPQ | $24.1B | 9.51 | -69.51 | -730.9% | 7.55 |
| Corpay, Inc. | CPAY | $23.3B | 21.82 | 6.01 | 27.5% | 13.23 |
| Akamai Technologies, Inc. | AKAM | $23.1B | 51.13 | 4.64 | 9.1% | 20.57 |
| F5, Inc. | FFIV | $23.1B | 33.30 | 6.42 | 19.3% | 24.86 |
| Peer Median | - | 29.64 | 4.64 | -5.0% | 22.45 | |