Cognizant Technology Solutions Corporation (CTSH) Balance Sheet
CTSH balance sheet, 2025
December 31, 2025 · U.S. dollars$20.69B assets = $5.68B liabilities + $15.02B equity
Both columns are drawn to the same scale: what CTSH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CTSH financial health
Current ratio2.34
Comfortable · current assets cover current liabilities 2.34×
Debt / equity0.10
Low leverage · $0.10 of debt for each $1 of equity
Equity / assets72.6%
Equity-funded · of assets funded by shareholders
Cash / debt121.5%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles41.2%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2025.
CTSH balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $14.26B2016 | $20.69B2025 | +4.2%/yr | |
| Total liabilities | $3.53B2016 | $5.68B2025 | +5.4%/yr | |
| Shareholders’ equity | $10.73B2016 | $15.02B2025 | +3.8%/yr | |
| Cash & short-term investments | $5.17B2016 | $1.91B2025 | −10.5%/yr | |
| Total debt | $878.0M2016 | $1.57B2025 | +6.7%/yr | |
| Net cash (debt) | $4.29B2016 | $339.0M2025 | −$4.0B | |
| Working capital | $6.18B2016 | $4.89B2025 | −$1.3B | |
| Book value per share | $17.592016 | $31.152025 | +6.6%/yr | |
| Current ratio | 3.562016 | 2.342025 | −1.22 | |
| Debt / equity | 0.082016 | 0.102025 | +0.02 | |
| Shares outstanding | 610.0M2016 | 482.0M2025 | −2.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CTSH assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CTSH liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CTSH debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CTSH balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.91B | $2.24B | $2.63B | $2.50B | $2.72B | $2.72B | $3.42B | $4.51B | $5.06B | $5.17B |
| Cash & equivalents | $1.90B | $2.23B | $2.62B | $2.19B | $1.79B | $2.68B | $2.65B | $1.16B | $1.93B | $2.03B |
| Short-term investments | $13.0M | $12.0M | $14.0M | $310.0M | $927.0M | $44.0M | $779.0M | $3.35B | $3.13B | $3.13B |
| Receivables | $4.44B | $4.06B | $3.85B | $3.80B | $3.56B | $3.09B | $3.26B | $3.19B | $3.22B | $2.90B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $2.20B | $1.20B | $1.02B | $969.0M | $1.07B | $1.04B | $931.0M | $976.0M | $833.0M | $526.0M |
| Total current assets | $8.55B | $7.50B | $7.51B | $7.27B | $7.34B | $6.85B | $7.61B | $8.68B | $9.11B | $8.60B |
| Property, plant & equipment (net) | $1.51B | $1.55B | $1.66B | $1.98B | $2.10B | $2.26B | $2.23B | $1.39B | $1.32B | $1.31B |
| Goodwill & intangible assets | $8.52B | $8.55B | $7.23B | $6.88B | $6.84B | $6.08B | $5.02B | $4.63B | $3.69B | $3.50B |
| Long-term investments | $111.0M | $90.0M | $80.0M | $427.0M | $463.0M | $440.0M | $17.0M | $80.0M | $235.0M | $62.0M |
| Other non-current assets | $2.00B | $2.27B | $2.00B | $1.30B | $1.10B | $1.29B | $1.32B | $1.13B | $866.0M | $784.0M |
| Total assets | $20.69B | $19.97B | $18.48B | $17.85B | $17.85B | $16.92B | $16.20B | $15.91B | $15.22B | $14.26B |
| Liabilities | ||||||||||
| Accounts payable | $308.0M | $340.0M | $337.0M | $360.0M | $361.0M | $389.0M | $239.0M | $215.0M | $210.0M | $175.0M |
| Short-term debt | $186.0M | $193.0M | $186.0M | $182.0M | $233.0M | $249.0M | $240.0M | $9.0M | $175.0M | $81.0M |
| Deferred revenue | $501.0M | $450.0M | $385.0M | $398.0M | $403.0M | $383.0M | $313.0M | $286.0M | $383.0M | $306.0M |
| Total current liabilities | $3.66B | $3.58B | $3.33B | $3.35B | $3.53B | $3.54B | $2.98B | $2.78B | $2.84B | $2.42B |
| Long-term debt | $543.0M | $875.0M | $606.0M | $638.0M | $626.0M | $663.0M | $700.0M | $736.0M | $698.0M | $797.0M |
| Lease obligations | $576.0M | $572.0M | $676.0M | $888.0M | $978.0M | $1.06B | $947.0M | — | — | — |
| Other long-term liabilities | $1.48B | $1.10B | $1.32B | $1.56B | $1.71B | $1.88B | $1.50B | $976.0M | $1.01B | $319.0M |
| Total liabilities | $5.68B | $5.56B | $5.26B | $5.54B | $5.86B | $6.09B | $5.18B | $4.49B | $4.55B | $3.53B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $6.0M | $6.0M | $6.0M |
| Retained earnings (deficit) | $15.16B | $14.69B | $13.30B | $12.59B | $11.92B | $10.69B | $11.02B | $11.48B | $10.54B | $10.48B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$160.0M | −$296.0M | −$94.0M | −$299.0M | $37.0M | $110.0M | −$38.0M | −$114.0M | $70.0M | −$114.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $15.02B | $14.41B | $13.23B | $12.31B | $11.99B | $10.84B | $11.02B | $11.42B | $10.67B | $10.73B |
| Key figures | ||||||||||
| Total debt | $1.57B | $1.50B | $1.31B | $1.53B | $1.64B | $1.76B | $1.69B | $745.0M | $873.0M | $878.0M |
| Net cash (debt) | $339.0M | $740.0M | $1.32B | $967.0M | $1.08B | $966.0M | $1.74B | $3.77B | $4.18B | $4.29B |
| Working capital | $4.89B | $3.92B | $4.17B | $3.92B | $3.81B | $3.31B | $4.63B | $5.90B | $6.27B | $6.18B |
| Tangible book value | $6.49B | $5.86B | $5.99B | $5.43B | $5.15B | $4.76B | $6.00B | $6.79B | $6.98B | $7.22B |
| Book value per share | $31.15 | $28.99 | $26.19 | $23.72 | $22.71 | $20.03 | $19.68 | $19.56 | $17.93 | $17.59 |
| Shares outstanding | 482.0M | 497.0M | 505.0M | 519.0M | 528.0M | 541.0M | 560.0M | 584.0M | 595.0M | 610.0M |
| Current ratio | 2.34 | 2.09 | 2.25 | 2.17 | 2.08 | 1.94 | 2.55 | 3.12 | 3.21 | 3.56 |
| Quick ratio | 1.74 | 1.76 | 1.95 | 1.88 | 1.78 | 1.64 | 2.24 | 2.77 | 2.92 | 3.34 |
| Debt / equity | 0.10 | 0.10 | 0.10 | 0.12 | 0.14 | 0.16 | 0.15 | 0.07 | 0.08 | 0.08 |
| Equity / assets | 72.6% | 72.2% | 71.6% | 69.0% | 67.2% | 64.0% | 68.0% | 71.8% | 70.1% | 75.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.05B | $1.52B | $1.91B | $2.35B | $1.81B | $1.99B | $2.24B | $2.02B | $2.21B | $2.24B | $2.63B | $2.37B |
| Cash & equivalents | $1.04B | $1.50B | $1.90B | $2.34B | $1.80B | $1.98B | $2.23B | $2.01B | $2.19B | $2.23B | $1.79B | $2.20B |
| Short-term investments | $13.0M | $13.0M | $13.0M | $13.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $848.0M | $164.0M |
| Receivables | $4.78B | $4.61B | $4.44B | $4.39B | $4.40B | $4.24B | $4.06B | $4.21B | $3.97B | $3.82B | $3.85B | $3.81B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.73B | $1.71B | $2.20B | $1.35B | $1.40B | $1.31B | $1.20B | $1.32B | $1.07B | $1.02B | $1.02B | $952.0M |
| Total current assets | $7.56B | $7.83B | $8.55B | $8.09B | $7.61B | $7.54B | $7.50B | $7.55B | $7.25B | $7.09B | $7.51B | $7.13B |
| Property, plant & equipment (net) | $1.54B | $1.49B | $1.51B | $1.53B | $1.54B | $1.54B | $1.55B | $1.59B | $1.56B | $1.62B | $1.66B | $1.77B |
| Goodwill & intangible assets | $9.76B | $9.17B | $8.52B | $8.57B | $8.64B | $8.56B | $8.55B | $8.81B | $7.52B | $7.56B | $7.24B | $7.19B |
| Long-term investments | $106.0M | $113.0M | $111.0M | $107.0M | $110.0M | $94.0M | $90.0M | $90.0M | $86.0M | $83.0M | $80.0M | $432.0M |
| Other non-current assets | $1.87B | $1.89B | $2.00B | $1.83B | $2.26B | $2.22B | $2.27B | $2.12B | $2.16B | $2.05B | $2.00B | $1.57B |
| Total assets | $20.82B | $20.50B | $20.69B | $20.13B | $20.16B | $19.97B | $19.97B | $20.16B | $18.58B | $18.41B | $18.48B | $18.08B |
| Liabilities | ||||||||||||
| Accounts payable | $357.0M | $363.0M | $308.0M | $284.0M | $279.0M | $326.0M | $340.0M | $304.0M | $298.0M | $291.0M | $337.0M | $325.0M |
| Short-term debt | $178.0M | $173.0M | $186.0M | $187.0M | $188.0M | $188.0M | $193.0M | $225.0M | $181.0M | $176.0M | $186.0M | $197.0M |
| Deferred revenue | $490.0M | $580.0M | $501.0M | $384.0M | $440.0M | $519.0M | $450.0M | $355.0M | $391.0M | $449.0M | $385.0M | $302.0M |
| Total current liabilities | $3.46B | $3.52B | $3.66B | $3.43B | $3.16B | $3.41B | $3.58B | $3.39B | $2.95B | $3.01B | $3.33B | $3.19B |
| Long-term debt | $1.53B | $535.0M | $543.0M | $551.0M | $559.0M | $567.0M | $875.0M | $1.18B | $590.0M | $598.0M | $606.0M | $614.0M |
| Lease obligations | $534.0M | $524.0M | $576.0M | $586.0M | $585.0M | $579.0M | $572.0M | $647.0M | $614.0M | $646.0M | $676.0M | $798.0M |
| Other long-term liabilities | $1.37B | $1.38B | $1.48B | $1.25B | $1.16B | $1.09B | $1.10B | $1.14B | $1.15B | $1.31B | $1.32B | $1.39B |
| Total liabilities | $6.36B | $5.43B | $5.68B | $5.24B | $4.88B | $5.07B | $5.56B | $5.71B | $4.68B | $4.92B | $5.26B | $5.20B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M | $5.0M |
| Retained earnings (deficit) | $14.65B | $15.27B | $15.16B | $14.94B | $15.23B | $15.04B | $14.69B | $14.35B | $14.03B | $13.62B | $13.30B | $13.15B |
| Accumulated other comprehensive income | −$201.0M | −$226.0M | −$160.0M | −$64.0M | $43.0M | −$165.0M | −$296.0M | $42.0M | −$150.0M | −$156.0M | −$94.0M | −$285.0M |
| Total shareholders' equity | $14.46B | $15.07B | $15.02B | $14.90B | $15.29B | $14.90B | $14.41B | $14.45B | $13.90B | $13.49B | $13.23B | $12.88B |
| Key figures | ||||||||||||
| Total debt | $2.09B | $1.09B | $1.57B | $1.17B | $1.18B | $1.18B | $1.50B | $1.86B | $1.24B | $1.28B | $1.31B | $1.45B |
| Net cash (debt) | −$1.04B | $425.0M | $339.0M | $1.18B | $631.0M | $813.0M | $740.0M | $162.0M | $968.0M | $966.0M | $1.32B | $923.0M |
| Working capital | $4.09B | $4.32B | $4.89B | $4.66B | $4.45B | $4.14B | $3.92B | $4.16B | $4.30B | $4.07B | $4.17B | $3.94B |
| Tangible book value | $4.70B | $5.90B | $6.49B | $6.33B | $6.64B | $6.34B | $5.86B | $5.64B | $6.37B | $5.93B | $5.99B | $5.70B |
| Book value per share | $31.03 | $31.59 | $31.15 | $30.59 | $31.07 | $30.10 | $28.99 | $29.14 | $27.91 | $27.09 | $26.40 | $25.51 |
| Shares outstanding | 466.0M | 477.0M | 482.0M | 487.0M | 492.0M | 495.0M | 497.0M | 496.0M | 498.0M | 498.0M | 501.0M | 505.0M |
| Current ratio | 2.18 | 2.23 | 2.34 | 2.36 | 2.41 | 2.22 | 2.09 | 2.23 | 2.46 | 2.35 | 2.25 | 2.23 |
| Quick ratio | 1.68 | 1.74 | 1.74 | 1.96 | 1.97 | 1.83 | 1.76 | 1.84 | 2.10 | 2.01 | 1.95 | 1.94 |
| Debt / equity | 0.14 | 0.07 | 0.10 | 0.08 | 0.08 | 0.08 | 0.10 | 0.13 | 0.09 | 0.09 | 0.10 | 0.11 |
| Equity / assets | 69.4% | 73.5% | 72.6% | 74.0% | 75.8% | 74.6% | 72.2% | 71.7% | 74.8% | 73.3% | 71.6% | 71.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
CTSH financial position
At the end of fiscal 2025 (December 31, 2025), Cognizant had total assets of $20.7 billion (up 3.6% from a year earlier), total liabilities of $5.7 billion and shareholders' equity of $15.0 billion. It held $1.9 billion in cash and short-term investments against $1.6 billion of debt, a net cash position of $339.0 million. Its current ratio was 2.34. In the latest quarter (ended June 30, 2026) total assets were $20.8 billion and equity $14.5 billion.
Related: CTSH income statement, CTSH cash flow statement, CTSH key metrics. See the CTSH stock overview for the latest quote and news.
CTSH balance sheet FAQ
What are Cognizant's total assets?
Cognizant reported total assets of $20.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $20.0 billion a year earlier.
How much debt does Cognizant have?
Cognizant had $1.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.10.
How much cash does Cognizant have?
Cognizant held $1.9 billion in cash and short-term investments at the end of fiscal 2025; with $1.6 billion of debt that is net cash of $339.0 million.
What is Cognizant's book value?
Cognizant's shareholders' equity (book value) was $15.0 billion at the end of fiscal 2025, or $31.15 per share.
What is Cognizant's current ratio?
Cognizant had current assets of $8.6 billion and current liabilities of $3.7 billion, a current ratio of 2.34 (it can cover its short-term obligations).
How much goodwill does Cognizant have?
Cognizant carried $8.5 billion of goodwill and intangible assets, 41.2% of total assets, at the end of fiscal 2025.