Cognizant Technology Solutions (CTSH) FY2013 results: revenue $8.8 billion, up 20.4% on the year
Cognizant Technology Solutions Corp. (CTSH) reported revenue of $8.8 billion for fiscal 2013, the year ended 31 December 2013, up 20.4% on the year before. Net income was $1.2 billion, up 16.9%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$8.8 billion
+20.4% on the year
FY2007FY2013
Operating margin
19.0%
18.5% a year earlier
FY2007FY2013
Net income
$1.2 billion
+16.9% on the year
FY2007FY2013
Diluted EPS
$2.02
+17.2% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
8,843
7,346
6,121
+20.4%
Selling, general and administrative
1,728
1,558
1,329
+10.9%
Operating income
1,678
1,361
1,136
+23.2%
Operating margin
19.0%
18.5%
18.6%
Interest expense
0.0
0.0
n/a
Pre-tax income
1,688
1,388
1,169
+21.6%
Income tax
459
336
286
+36.6%
Effective tax rate
27.2%
24.2%
24.4%
Net income
1,229
1,051
884
+16.9%
Net margin
13.9%
14.3%
14.4%
Diluted EPS
$2.02
$1.72
$1.43
+17.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,424
1,173
875
+21.4%
Capital expenditure
262
334
288
-21.8%
Free cash flow
1,162
838
587
+38.7%
Free cash flow margin
13.1%
11.4%
9.6%
Cash from investing
-731
-570
-850
Cash from financing
-30.9
-343
-255
Depreciation and amortisation
180
157
124
+14.9%
Share-based compensation
119
107
90.2
+10.7%
Buybacks
179
521
374
-65.6%
Diluted shares, weighted
610m
612m
621m
-0.3%
Shares outstanding at period end
608m
603m
606m
+0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,136
4,854
3,953
+26.4%
Debt
0.0
0.0
0.0
Other liabilities
1,999
1,667
1,555
+19.9%
Total liabilities and equity
8,135
6,522
5,508
+24.7%
Fixed assets
1,081
971
758
+11.3%
Goodwill
444
309
289
+43.7%
Intangible assets
131
87.5
97.6
+50.1%
Investments
1,534
1,294
1,121
+18.6%
Cash and equivalents
2,213
1,570
1,311
+40.9%
Receivables
1,649
1,346
1,179
+22.5%
Other assets
1,082
944
752
+14.6%
Total assets
8,135
6,522
5,508
+24.7%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.