Cognizant Technology Solutions Corporation
Financial Performance
Cognizant Revenue & Financials
Revenue
$21.1B (FY2025)
Market Cap
$25.6B
Employees
356,700
What is Cognizant's revenue?
Cognizant had $21.1B in revenue for fiscal year 2025, up 7% from 2024.
- Latest revenue
- $21.1B (FY2025)
- Year-over-year
- +7%
- Growth rate (CAGR)
- 5.1% over 9 years
- Peak revenue
- $21.1B (FY2025)
- Years of data
- 10
- Employees
- 356,700
- What is Cognizant's operating income?
- Cognizant reported operating income of $3.4B for fiscal year 2025. sec.gov
- How many employees does Cognizant have?
- Cognizant has about 356,700 employees.
Financial Analysis
Cognizant's revenue grew slowly from $19.43 billion in 2022 to $19.74 billion in 2024, then jumped 7% to $21.11 billion in 2025, helped by large deals and the Belcan acquisition. Net income was $2.23 billion in 2025, GAAP operating margin was 16.1%, and adjusted operating margin was 15.8%. Free cash flow reached $2.67 billion. The company returns most of that cash: it paid $610 million in dividends and bought back $1.3 billion of stock in 2025, and deployed $1.6 billion on buybacks in the first half of 2026 alone, while also spending $1.3 billion on acquisitions and drawing $1.0 billion on its revolving credit facility. For 2026 it guides to revenue of $22.04-$22.35 billion (4.0%-5.5% constant-currency growth), adjusted operating margin of 16.0%-16.2%, and adjusted EPS of $5.70-$5.82. Cognizant Technology Solutions is a massive global IT services and consulting firm, sustaining a market valuation typically over $35 billion.
Revenue Trend Analysis
YoY Change
+7%
9-Year CAGR
+5.1%
Peak Year
2025
Trend
Consistent Growth
Cognizant Technology Solutions Corporation has 10 full fiscal year figures on this page, compounding at +5.1% annually over 9 years. The most recent year saw a 7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $21.1B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
Click any row to see year details.
Cognizant Technology Solutions Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $2.9B | $288M | $20.7B | $5.7B | $15B | $2.6B | Form 10-K |
| FY2024ended Dec 31, 2024 | $2.1B | $297M | $20B | $5.6B | $14.4B | $1.8B | Form 10-K |
| FY2023ended Dec 31, 2023 | $2.3B | $317M | $18.5B | $5.3B | $13.2B | $2B | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.6B | $332M | $17.9B | $5.5B | $12.3B | $2.2B | Form 10-K |
| FY2021ended Dec 31, 2021 | $2.5B | $279M | $17.9B | $5.9B | $12B | $2.2B | Form 10-K |
| FY2020ended Dec 31, 2020 | $3.3B | $398M | $16.9B | $6.1B | $10.8B | $2.9B | Form 10-K |
| FY2019ended Dec 31, 2019 | $2.5B | $392M | $16.2B | $5.2B | $11B | $2.1B | Form 10-K |
| FY2018ended Dec 31, 2018 | $2.6B | $377M | $15.8B | $4.4B | $11.4B | $2.2B | Form 10-K |
| FY2017ended Dec 31, 2017 | $2.4B | $284M | $15.2B | $4.6B | $10.7B | $2.1B | Form 10-K |
| FY2016ended Dec 31, 2016 | $1.6B | $300M | $14.3B | $3.5B | $10.7B | $1.3B | Form 10-K |
Keep researching Cognizant
Cognizant Revenue and Financial FAQ
What was Cognizant's total annual revenue in recent fiscal years?
Cognizant Technology Solutions Corporation reported revenue of $21.1 billion for fiscal year 2025, up from $19.7 billion in fiscal 2024.
What is Cognizant's adjusted operating margin profile?
Cognizant's adjusted operating margin was 15.8% in 2025 (GAAP operating margin 16.1%), up from 15.3% in 2024, and it guided to 16.0% to 16.2% for 2026, supported by strict operational cost discipline, delivery pyramid optimization in India, and automation via generative AI developer tools.
How much annual cash flow from operations and free cash flow does Cognizant produce?
In 2025, Cognizant generated US$2.88 billion of cash flow from operations and US$2.67 billion of free cash flow, equal to 129% and 120% of net income, up from US$2.12 billion and US$1.83 billion in 2024.
What is Cognizant's dividend track record and payout growth?
Cognizant raised its quarterly cash dividend 6.5% to US$0.33 per share for Q1 2026 (US$1.32 annualized), after paying US$610 million in dividends in 2025, and has increased its dividend since initiating it in 2017.
How much capital does Cognizant return to shareholders via share repurchases?
Cognizant repurchased 17.4 million shares for US$1.3 billion in 2025, and in May 2026 it raised its 2026 share repurchase target by US$1 billion to US$2 billion, reducing share count and compounding EPS growth.
What is Cognizant's total market capitalization on NASDAQ?
Cognizant's market capitalization was about $26 billion in late September 2026, down from about $40 billion at the end of 2025, as investors weighed AI pricing risks for IT services.
What is Cognizant's balance sheet cash and debt position?
Cognizant held US$1.90 billion of cash and cash equivalents plus US$13 million of short-term investments at December 31, 2025, down from US$2.23 billion of cash a year earlier, after repaying US$300 million under its revolving credit facility during 2025.
What is Cognizant's revenue breakdown by geographic region?
In 2025, North America was Cognizant's largest market at US$15.78 billion (74.8% of revenue), followed by Europe at US$4.01 billion (19.0%, including the UK at US$1.92 billion) and the Rest of World at US$1.32 billion (6.2%).
What were Cognizant's Q2 2026 results?
Q2 2026 revenue was $5.481 billion, up 4.5% (4.1% in constant currency), with net income of $636 million, GAAP EPS of $1.36, and adjusted operating margin of 16.0%.
Is Cognizant profitable?
Yes, highly profitable. Because they rely heavily on global labor arbitrage (charging US/European clients premium consulting rates while executing the work using cheaper offshore engineering talent), they generate massive, consistent profit margins.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Cognizant Revenue & Financials." CorpDigest, https://corpdigest.com/company/cognizant/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Cognizant reported $21.1B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/cognizant/financials" target="_blank" rel="noopener">CorpDigest — Cognizant financials</a></div>Related Financial Audits
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