Cognizant Technology Solutions Corporation (CTSH) Key Metrics
CTSH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $29.74B
- Enterprise value
- $27.69B
- P/E (TTM)
- 14.2 10-yr median 18.4
- Forward P/E
- 9.4
- PEG ratio
- 0.85
- Price / sales
- 1.4 10-yr median 2.2
- Price / book
- 1.8 10-yr median 3.2
- EV / EBITDA
- 6.7 10-yr median 10.8
- Dividend yield
- 2.00% $1.32 a year
- Beta
- 0.85
CTSH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCTSH valuation Price multiples at each fiscal year-end price.
CTSH returns How much profit the business earns on the capital it uses.
CTSH per-share figures Results divided by the shares outstanding at year-end.
CTSH financial health Debt, liquidity and how easily interest is covered.
CTSH efficiency & capital use Working capital cycle and where the cash goes.
CTSH valuation history
CTSH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CTSH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CTSH cash returned to shareholders
CTSH price vs earnings per share
CTSH key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $40.01B | $38.22B | $38.14B | $29.68B | $46.84B | $44.33B | $34.73B | $37.07B | $42.26B | $34.18B |
| Enterprise value | $39.67B | $37.48B | $36.82B | $28.71B | $45.77B | $43.37B | $32.99B | $33.31B | $38.07B | $29.89B |
| P/E ratio | 17.9 | 17.1 | 17.9 | 13.0 | 21.9 | 31.8 | 18.9 | 17.6 | 28.1 | 22.0 |
| Price / sales | 1.9 | 1.9 | 2.0 | 1.5 | 2.5 | 2.7 | 2.1 | 2.3 | 2.9 | 2.5 |
| Price / book | 2.7 | 2.7 | 2.9 | 2.4 | 3.9 | 4.1 | 3.2 | 3.2 | 4.0 | 3.2 |
| Price / free cash flow | 15.4 | 20.9 | 18.9 | 13.3 | 21.1 | 15.3 | 16.5 | 16.7 | 19.9 | 25.9 |
| Price / operating cash flow | 13.9 | 18.0 | 16.4 | 11.6 | 18.8 | 13.4 | 13.9 | 14.3 | 17.6 | 21.1 |
| EV / sales | 1.9 | 1.9 | 1.9 | 1.5 | 2.5 | 2.6 | 2.0 | 2.1 | 2.6 | 2.2 |
| EV / EBITDA | 9.5 | 10.6 | 10.9 | 8.0 | 13.4 | 16.2 | 10.7 | 10.0 | 12.2 | 10.8 |
| EV / free cash flow | 15.3 | 20.5 | 18.3 | 12.8 | 20.7 | 14.9 | 15.7 | 15.0 | 17.9 | 22.6 |
| Earnings yield | 5.6% | 5.9% | 5.6% | 7.7% | 4.6% | 3.1% | 5.3% | 5.7% | 3.6% | 4.5% |
| Free cash flow yield | 6.5% | 4.8% | 5.3% | 7.5% | 4.7% | 6.5% | 6.1% | 6.0% | 5.0% | 3.9% |
| Dividend yield | 1.5% | 1.6% | 1.5% | 1.9% | 1.1% | 1.1% | 1.3% | 1.3% | 0.6% | 1.0% |
| Shareholder yield (dividends + buybacks) | 5.0% | 3.2% | 4.3% | 6.7% | 2.7% | 4.7% | 7.8% | 4.7% | 5.1% | 2.5% |
| Share price at fiscal year-end | $83.00 | $76.90 | $75.53 | $57.19 | $88.72 | $81.95 | $62.02 | $63.48 | $71.02 | $56.03 |
| Per share | ||||||||||
| Revenue per share | $43.79 | $39.71 | $38.32 | $37.43 | $35.05 | $30.78 | $29.97 | $27.61 | $24.89 | $22.11 |
| Earnings per share | $4.63 | $4.51 | $4.21 | $4.41 | $4.05 | $2.57 | $3.29 | $3.60 | $2.53 | $2.55 |
| Operating cash flow per share | $5.98 | $4.27 | $4.61 | $4.95 | $4.73 | $6.10 | $4.46 | $4.44 | $4.05 | $2.66 |
| Free cash flow per share | $5.38 | $3.68 | $3.99 | $4.31 | $4.20 | $5.36 | $3.76 | $3.79 | $3.57 | $2.17 |
| Cash per share | $3.97 | $4.51 | $5.22 | $4.82 | $5.15 | $5.04 | $6.11 | $7.72 | $8.50 | $8.47 |
| Book value per share | $31.15 | $28.99 | $26.19 | $23.72 | $22.71 | $20.03 | $19.68 | $19.56 | $17.93 | $17.59 |
| Tangible book value per share | $13.47 | $11.78 | $11.87 | $10.46 | $9.76 | $8.80 | $10.72 | $11.63 | $11.74 | $11.84 |
| Dividends per share | $1.27 | $1.21 | $1.17 | $1.09 | $0.96 | $0.89 | $0.81 | $0.80 | $0.45 | $0.57 |
| Capex per share | $0.60 | $0.60 | $0.63 | $0.64 | $0.53 | $0.74 | $0.70 | $0.65 | $0.48 | $0.49 |
| Debt per share | $3.27 | $3.02 | $2.60 | $2.96 | $3.11 | $3.25 | $3.01 | $1.28 | $1.47 | $1.44 |
| Shares outstanding | 482.0M | 497.0M | 505.0M | 519.0M | 528.0M | 541.0M | 560.0M | 584.0M | 595.0M | 610.0M |
| Change in shares outstanding | −3.0% | −1.6% | −2.7% | −1.7% | −2.4% | −3.4% | −4.1% | −1.8% | −2.5% | −0.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.2% | 16.2% | 16.7% | 18.8% | 18.7% | 12.7% | 16.4% | 19.0% | 14.1% | 15.5% |
| Return on invested capital (ROIC) | 15.0% | 17.2% | 17.6% | 20.2% | 20.5% | 14.7% | 21.5% | 29.7% | 21.7% | 25.0% |
| Return on assets (ROA) | 11.0% | 11.7% | 11.7% | 12.8% | 12.3% | 8.4% | 11.5% | 13.5% | 10.2% | 11.4% |
| Return on tangible assets | 18.3% | 19.6% | 18.9% | 20.9% | 19.4% | 12.8% | 16.5% | 18.6% | 13.0% | 14.4% |
| Free cash flow margin | 12.3% | 9.3% | 10.4% | 11.5% | 12.0% | 17.4% | 12.6% | 13.7% | 14.3% | 9.8% |
| Income quality (OCF / net income) | 1.29 | 0.95 | 1.10 | 1.12 | 1.17 | 2.37 | 1.36 | 1.23 | 1.60 | 1.04 |
| Financial health | ||||||||||
| Total debt | $1.57B | $1.50B | $1.31B | $1.53B | $1.64B | $1.76B | $1.69B | $745.0M | $873.0M | $878.0M |
| Cash & short-term investments | $1.91B | $2.24B | $2.63B | $2.50B | $2.72B | $2.72B | $3.42B | $4.51B | $5.06B | $5.17B |
| Net debt | −$339.0M | −$740.0M | −$1.32B | −$967.0M | −$1.08B | −$966.0M | −$1.74B | −$3.77B | −$4.18B | −$4.29B |
| Debt / equity | 0.10 | 0.10 | 0.10 | 0.12 | 0.14 | 0.16 | 0.15 | 0.07 | 0.08 | 0.08 |
| Debt / assets | 0.08 | 0.08 | 0.07 | 0.09 | 0.09 | 0.10 | 0.10 | 0.05 | 0.06 | 0.06 |
| Net debt / EBITDA | −0.08 | −0.21 | −0.39 | −0.27 | −0.32 | −0.36 | −0.56 | −1.13 | −1.34 | −1.56 |
| Current ratio | 2.34 | 2.09 | 2.25 | 2.17 | 2.08 | 1.94 | 2.55 | 3.12 | 3.21 | 3.56 |
| Quick ratio | 2.34 | 2.09 | 2.25 | 2.17 | 2.08 | 1.94 | 2.55 | 3.12 | 3.21 | 3.56 |
| Interest coverage | 95.4 | 53.6 | 65.6 | 156.2 | 314.0 | 88.1 | 94.3 | 103.7 | 107.9 | 120.5 |
| Working capital | $4.89B | $3.92B | $4.17B | $3.92B | $3.81B | $3.31B | $4.63B | $5.90B | $6.27B | $6.18B |
| Invested capital | $14.68B | $13.67B | $11.91B | $11.34B | $10.91B | $9.87B | $9.28B | $7.66B | $6.49B | $6.44B |
| Tangible asset value | $6.49B | $5.86B | $5.99B | $5.43B | $5.15B | $4.76B | $6.00B | $6.79B | $6.98B | $7.22B |
| Net current asset value | $2.87B | $1.95B | $2.25B | $1.72B | $1.48B | $764.0M | $2.43B | $4.19B | $4.56B | $5.07B |
| Graham number | $56.95 | $54.22 | $49.81 | $48.52 | $45.48 | $34.05 | $38.17 | $39.79 | $31.93 | $31.74 |
| Graham net-net per share | −$0.90 | −$0.54 | $0.53 | −$0.38 | −$0.90 | −$1.94 | $1.22 | $4.13 | $4.91 | $6.25 |
| Capital allocation | ||||||||||
| Dividends paid | $610.0M | $600.0M | $591.0M | $564.0M | $509.0M | $480.0M | $453.0M | $468.0M | $265.0M | $350.0M |
| Share buybacks (net) | $1.38B | $605.0M | $1.06B | $1.42B | $771.0M | $1.62B | $2.25B | $1.26B | $1.89B | $512.0M |
| Dividend payout ratio | 27.4% | 26.8% | 27.8% | 24.6% | 23.8% | 34.5% | 24.6% | 22.3% | 17.6% | 22.5% |
| Dividends + buybacks / free cash flow | 76.6% | 66.0% | 82.2% | 88.8% | 57.8% | 72.4% | 128.1% | 78.1% | 101.5% | 65.3% |
| Capex / revenue | 1.4% | 1.5% | 1.6% | 1.7% | 1.5% | 2.4% | 2.3% | 2.3% | 1.9% | 2.2% |
| Capex / operating cash flow | 10.0% | 14.0% | 13.6% | 12.9% | 11.2% | 12.1% | 15.7% | 14.5% | 11.8% | 18.5% |
| Capex / depreciation | 0.52 | 0.55 | 0.57 | 0.58 | 0.49 | 0.71 | 0.75 | 0.76 | 0.64 | 0.79 |
| Stock-based compensation / revenue | 0.9% | 0.9% | 0.9% | 1.3% | 1.3% | 1.4% | 1.3% | 1.7% | 1.5% | 1.6% |
| SG&A / revenue | 15.3% | 16.3% | 17.2% | 17.7% | 18.9% | 18.6% | 17.7% | 18.8% | 18.7% | 20.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 73.5 | 73.1 | 72.1 | 69.1 | 65.5 | 69.5 | 70.1 | 72.6 | 75.5 | 74.8 |
| Days payables outstanding | 8.5 | 9.5 | 10.0 | 10.6 | 11.8 | 10.7 | 7.8 | 7.9 | 7.7 | 7.7 |
| Cash conversion cycle (days) | 65.0 | 63.6 | 62.0 | 58.5 | 53.7 | 58.8 | 62.3 | 64.7 | 67.8 | 67.1 |
| Receivables turnover | 4.97 | 4.99 | 5.06 | 5.28 | 5.57 | 5.25 | 5.21 | 5.03 | 4.83 | 4.88 |
| Payables turnover | 43.18 | 38.28 | 36.34 | 34.53 | 30.94 | 33.98 | 46.85 | 46.30 | 47.54 | 47.69 |
| Asset turnover | 1.04 | 1.03 | 1.07 | 1.09 | 1.06 | 1.01 | 1.05 | 1.04 | 1.00 | 0.99 |
| Average receivables | $4.25B | $3.95B | $3.82B | $3.68B | $3.32B | $3.17B | $3.22B | $3.21B | $3.06B | $2.76B |
| Average payables | $324.0M | $338.5M | $348.5M | $360.5M | $375.0M | $314.0M | $227.0M | $212.5M | $192.5M | $170.0M |
| Average inventory | — | — | — | — | — | — | — | — | $0 | $0 |
| Intangibles / total assets | 41.2% | 42.8% | 39.1% | 38.5% | 38.3% | 35.9% | 31.0% | 29.1% | 24.2% | 24.6% |
Computed from CTSH's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CTSH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Cognizant traded at 17.9 times earnings, against a 10-year median of 18.4. Based on the latest twelve months, the trailing P/E is 14.2 and the forward P/E is 9.4. Cognizant earned a return on equity of 15.2% and a return on invested capital of 15.0% in fiscal 2025. It ended the year with $1.6 billion of debt and $1.9 billion in cash and short-term investments, a net cash position of $339.0 million. It returned $2.0 billion to shareholders: $610.0 million in dividends and $1.4 billion in share buybacks, 77% of free cash flow. The share count fell 21.0% from 610.0M to 482.0M over 9 years.
See the CTSH income statement, the CTSH chart for price history, or the CTSH stock overview for the latest quote and news.
CTSH key metrics FAQ
What is Cognizant's P/E ratio?
Cognizant's trailing P/E ratio is 14.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.4. At the end of fiscal 2025 it was 17.9, compared with a 10-year median of 18.4.
What is Cognizant's EV/EBITDA?
Cognizant's enterprise value was 9.5 times EBITDA at the end of fiscal 2025 (enterprise value $39.7 billion, EBITDA $4.2 billion); the current EV/EBITDA is 6.7.
What is Cognizant's return on equity?
Cognizant's return on equity (ROE) was 15.2% in fiscal 2025: net income of $2.2 billion on average shareholders' equity of $14.7 billion.
What is Cognizant's ROIC?
Cognizant's return on invested capital was 15.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Cognizant have?
Cognizant had total debt of $1.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.10 and more cash than debt.
What is Cognizant's dividend yield?
Cognizant's forward dividend yield is 2.00%. Cognizant paid $610.0 million in dividends in fiscal 2025 ($1.27 per share), a payout ratio of 27.4%.
Does Cognizant buy back its shares?
Yes. Cognizant spent $1.4 billion on net share repurchases in fiscal 2025 Shares outstanding changed −3.0% over the year, to 482.0M..
What is Cognizant's free cash flow yield?
Cognizant generated $2.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 6.5% on its market value at year-end ($40.0 billion).
What is Cognizant's current ratio?
Cognizant's current ratio was 2.34 at the end of fiscal 2025: current assets were 2.34 times current liabilities.