Cognizant (CTSH) Financial Statements

Financials

all figures in US$ Millions except per share data

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Actual

10 year cagr

Fiscal

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Average (A)

Fiscal period end dates

Expand all rows

01Earnings per share

2.7

2.6

2.5

3.6

3.3

2.6

4.1

4.4

4.2

4.5

4.6

5.6%

02Free cash flow per share

3.1

2.2

3.6

3.8

5.4

4.2

4.3

3.7

5.4

5.8%

03Dividends per share

0.5

0.8

0.9

1.1

1.2

04Dividends payout, %

17.6%

22.3%

24.6%

34.5%

23.8%

24.6%

27.8%

26.8%

27.4%

PROFIT AND LOSS STATEMENT

05Revenue

$ 12,416

$ 13,487

$ 14,810

$ 16,125

$ 16,783

$ 16,652

$ 18,507

$ 19,428

$ 19,353

$ 19,736

$ 21,108

5.5%

06% Change

8.6%

9.8%

8.9%

4.1%

(0.8)%

11.1%

(0.4)%

5.5%

07Cost of revenue

(7,440)

(8,108)

(9,152)

(9,838)

(10,634)

(10,671)

(11,604)

(12,448)

(12,664)

(12,958)

(13,991)

6.5%

08Gross profit

4,976

5,379

5,658

6,287

6,149

5,981

6,903

6,980

6,689

6,778

7,117

3.6%

09% Margin

40.1%

39.9%

38.2%

39%

36.6%

35.9%

37.3%

35.9%

34.6%

34.3%

33.7%

36.9% A

10Operating expenses

(2,834)

(3,090)

(3,177)

(3,486)

(3,696)

(3,867)

(4,077)

(4,012)

(4,000)

(3,886)

(3,588)

2.4%

11% of Revenue

(22.8)%

(22.9)%

(21.5)%

(21.6)%

(22)%

(23.2)%

(22)%

(20.7)%

(19.7)%

(17)%

(21.3)% A

12Operating Income

2,142

2,289

2,481

2,801

2,453

2,114

2,826

2,968

2,689

2,892

3,529

5.1%

13Income tax expense

(540)

(805)

(1,153)

(698)

(643)

(704)

(693)

(730)

(668)

(713)

(1,483)

10.6%

14Net Income

1,624

1,553

1,504

2,101

1,842

1,392

2,137

2,290

2,126

2,240

2,230

3.2%

15% Margin

13.1%

11.5%

10.2%

13%

11%

8.4%

11.6%

11.8%

11%

11.4%

10.6%

11.2% A

16Shares Outstanding

613,300

610,000

595,000

584,000

560,000

541,000

528,000

519,000

505,000

497,000

482,000

(2.4)%

17EPS Basic

2.7

2.6

2.5

3.6

3.3

2.6

4.1

4.4

4.2

4.5

4.6

5.5%

18EPS Diluted

2.7

2.6

2.5

3.6

3.3

2.6

4.1

4.4

4.2

4.5

4.6

5.6%

19EBITDA

2,512

2,755

3,121

3,322

3,095

2,679

3,410

3,604

3,383

3,534

4,173

5.2%

% Margin

20.2%

20.4%

21.1%

20.6%

18.4%

16.1%

18.4%

18.6%

17.5%

17.9%

19.8%

19% A

20Net Interest Income (expense)

110

150

0.3%

21Net Debt / EBITDA

(0.3)

(0.4)

(0.3)

(0.1)

(0.3)

(0.2)

(0.4)

(0.2)

(0.1)

(0.3) A

BALANCE SHEET

ASSETS

Current Assets

22Cash & equivalents

2,125

2,034

1,925

1,161

2,645

2,680

1,792

2,191

2,621

2,231

1,901

(1.1)%

23Short-term investments

2,824

3,135

3,131

3,350

779

927

310

(41.6)%

24Accounts receivable

2,622

2,905

3,222

3,190

3,256

3,087

3,557

3,796

3,849

4,059

4,439

5.4%

25Other current assets

338

526

833

909

931

1,040

1,066

969

1,022

1,202

2,198

20.6%

26Inventory

27Total Current Assets

7,909

8,600

9,111

8,677

7,611

6,851

7,342

7,266

7,506

7,504

8,551

0.8%

Non-Current Assets

28Net property, plant & equipment

1,271

1,311

1,324

1,394

2,235

2,264

2,104

1,977

1,659

1,546

1,506

1.7%

29Long-term investments

235

440

463

427

111

30Other non-current assets

3,885

4,289

4,551

5,762

6,341

7,368

7,943

8,182

9,238

10,826

10,524

10.5%

31Total Non-Current Assets

5,157

5,662

6,110

7,236

8,593

10,072

10,510

10,586

10,977

12,462

12,141

8.9%

Total Assets

13,065

14,262

15,221

15,913

16,204

16,923

17,852

18,483

19,966

20,692

4.7%

LIABILITIES

Current Liabilities

32Accounts payable

165

175

210

215

239

389

361

360

337

340

308

6.4%

33Short-term debt

406

175

240

249

233

182

186

193

186

(7.5)%

34Other current liabilities

2,143

2,162

2,454

2,553

2,504

2,902

2,935

2,805

2,810

3,052

3,165

35Total Current Liabilities

2,714

2,418

2,839

2,777

2,983

3,540

3,529

3,347

3,333

3,585

3,659

Non-Current Liabilities

36Long-term debt

877

797

698

736

1,445

1,509

1,409

1,352

1,129

1,310

1,389

4.7%

37Other non-current liabilities

196.6

319

1,015

976

754

1,038

923

844

794

663

629

12.3%

38Total Non-Current Liabilities

1,074

1,116

1,713

1,712

2,199

2,547

2,332

2,196

1,923

1,973

2,018

6.5%

39Total Liabilities

3,787

3,534

4,552

4,489

5,182

6,087

5,861

5,543

5,256

5,558

5,677

4.1%

SHAREHOLDERS` EQUITY

40Common stock

6.1

(2)%

41Retained earnings / (deficit)

8,925

10,478

10,544

11,485

11,022

10,689

11,922

12,588

13,301

14,686

15,158

5.4%

42Accumulated other comprehensive income / (loss)

(106.2)

(114)

(38)

110

(299)

(94)

(296)

(160)

4.2%

43Noncontrolling interests

44Total shareholders' equity

9,278

10,728

10,669

11,424

11,022

10,836

11,991

12,309

13,227

14,408

15,015

4.9%

45Total Liabilities and shareholders' Equity

13,065

14,262

15,221

15,913

16,204

16,923

17,852

18,483

19,966

20,692

4.7%

46Total Debt

1,288

878

873

745

1,685

1,758

1,642

1,534

1,315

1,503

1,575

47Net Debt

(837.7)

(1,156)

(1,052)

(416)

(960)

(922)

(150)

(657)

(1,306)

(728)

(326)

(9)%

CASH FLOW STATEMENT

CASH FLOWS FROM OPERATING ACTIVITIES

48Net income (loss)

1,624

1,553

1,504

2,101

1,842

1,392

2,137

2,290

2,126

2,240

2,230

3.2%

49Depreciation & amortization

330

379

443

498

526

559

574

569

555

542

550

5.2%

50Share-based compensation expense

221

267

217

232

246

261

176

175

181

51Changes in working capital and other assets

199.7

(311)

239

(274)

(86)

1,116

(462)

(552)

(527)

(833)

(78)

52Net cash flows from operating activities

2,153

1,621

2,407

2,592

2,499

3,299

2,495

2,568

2,330

2,124

2,883

CASH FLOWS FROM INVESTING ACTIVITIES

53Purchases of property, plant and equipment

(272.8)

(300)

(284)

(377)

(392)

(398)

(279)

(332)

(317)

(297)

(288)

0.5%

54Purchases of investments / marketable securities

(3,004)

(5,169)

(4,726)

(3,506)

(1,509)

(733)

(2,293)

(1,817)

(441)

(2)

(12)

(42.4)%

55Proceeds from maturities of marketable securities

1,908

4,840

4,644

3,367

4,106

1,016

1,378

2,382

836

268

(12)

56Other investing activities

(2.2)

(334)

(216)

(1,111)

(617)

(1,123)

(970)

(339)

(409)

(1,615)

57Net cash flows from investing activities

(1,371)

(963)

(582)

(1,627)

1,588

(1,238)

(2,164)

(106)

(331)

(1,646)

(230)

(16.4)%

CASH FLOWS FROM FINANCING ACTIVITIES

58Issuance (repurchases) of common stock, net

(329)

(336)

(1,700)

(1,080)

(2,088)

(1,479)

(641)

(1,336)

(993)

(542)

(1,320)

14.9%

59Dividends paid, net

(265)

(468)

(453)

(480)

(509)

(564)

(591)

(600)

(610)

60Debt issuance (repayments), net

(353)

(407)

(20)

(145)

(28)

(50)

(53)

(39)

(25)

227

(342)

(0.3)%

61Other financing activities

33.9

62Net cash flows from financing activities

(648.1)

(719)

(1,985)

(1,693)

(2,569)

(2,009)

(1,203)

(1,939)

(1,609)

(915)

(2,272)

13.4%

63Increase (decrease) in cash and cash equivalents

114.9

(91)

(109)

(764)

1,484

(888)

399

(404)

(547)

403

13.4%

64Cash and equivalents, ending balance

2,125

2,034

1,925

1,161

2,645

2,680

1,792

2,191

1,787

1,240

2,634

2.2%

65Free Cash Flow to the Firm (FCFF)

1,881

1,321

2,123

2,215

2,107

2,901

2,216

2,236

2,013

1,827

2,595

3.3%

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