Cognizant Technology Solutions (CTSH) FY2014 results: revenue $10.3 billion, up 16.1% on the year
Cognizant Technology Solutions Corp. (CTSH) reported revenue of $10.3 billion for fiscal 2014, the year ended 31 December 2014, up 16.1% on the year before. Net income was $1.4 billion, up 17.1%, and diluted earnings per share $2.35. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$10.3 billion
+16.1% on the year
FY2007FY2014
Operating margin
18.4%
19.0% a year earlier
FY2007FY2014
Net income
$1.4 billion
+17.1% on the year
FY2007FY2014
Diluted EPS
$2.35
+16.6% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
10,263
8,843
7,346
+16.1%
Selling, general and administrative
2,037
1,728
1,558
+17.9%
Operating income
1,885
1,678
1,361
+12.3%
Operating margin
18.4%
19.0%
18.5%
Interest expense
3.0
0.0
0.0
Pre-tax income
1,924
1,688
1,388
+14.0%
Income tax
485
459
336
+5.5%
Effective tax rate
25.2%
27.2%
24.2%
Net income
1,439
1,229
1,051
+17.1%
Net margin
14.0%
13.9%
14.3%
Diluted EPS
$2.35
$2.02
$1.72
+16.6%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,473
1,424
1,173
+3.5%
Capital expenditure
212
262
334
-18.9%
Free cash flow
1,261
1,162
838
+8.5%
Free cash flow margin
12.3%
13.1%
11.4%
Cash from investing
-3,161
-731
-570
Cash from financing
1,503
-30.9
-343
Depreciation and amortisation
208
180
157
+15.6%
Share-based compensation
135
119
107
+13.5%
Buybacks
248
179
521
+38.7%
Diluted shares, weighted
612m
610m
612m
+0.5%
Shares outstanding at period end
609m
608m
603m
+0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
7,740
6,136
4,854
+26.1%
Debt
1,638
0.0
0.0
Other liabilities
2,101
1,999
1,667
+5.1%
Total liabilities and equity
11,479
8,135
6,522
+41.1%
Fixed assets
1,247
1,081
971
+15.4%
Goodwill
2,414
444
309
+443.3%
Intangible assets
954
131
87.5
+626.5%
Investments
1,765
1,534
1,294
+15.0%
Cash and equivalents
2,010
2,213
1,570
-9.2%
Receivables
1,969
1,649
1,346
+19.4%
Other assets
1,121
1,082
944
+3.6%
Total assets
11,479
8,135
6,522
+41.1%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.