Cognizant Technology Solutions (CTSH) FY2016 results: revenue $13.5 billion, up 8.6% on the year
Cognizant Technology Solutions Corp. (CTSH) reported revenue of $13.5 billion for fiscal 2016, the year ended 31 December 2016, up 8.6% on the year before. Net income was $1.6 billion, down 4.3%, and diluted earnings per share $2.55. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$13.5 billion
+8.6% on the year
FY2009FY2016
Operating margin
17.0%
17.3% a year earlier
FY2009FY2016
Net income
$1.6 billion
-4.3% on the year
FY2009FY2016
Diluted EPS
$2.55
-3.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
13,487
12,416
10,263
+8.6%
Selling, general and administrative
2,731
2,509
2,037
+8.9%
Operating income
2,289
2,142
1,885
+6.9%
Operating margin
17.0%
17.3%
18.4%
Interest expense
19.0
18.0
3.0
+5.6%
Pre-tax income
2,357
2,164
1,924
+8.9%
Income tax
805
540
485
+49.1%
Effective tax rate
34.2%
25.0%
25.2%
Net income
1,553
1,624
1,439
-4.3%
Net margin
11.5%
13.1%
14.0%
Diluted EPS
$2.55
$2.65
$2.35
-3.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,645
2,187
1,473
-24.8%
Capital expenditure
300
273
212
+10.0%
Free cash flow
1,345
1,914
1,261
-29.7%
Free cash flow margin
10.0%
15.4%
12.3%
Cash from investing
-963
-1,371
-3,161
Cash from financing
-743
-682
1,503
Depreciation and amortisation
379
330
208
+14.8%
Share-based compensation
217
192
135
+13.0%
Buybacks
512
460
248
+11.3%
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
610m
613m
612m
-0.5%
Shares outstanding at period end
608m
609m
609m
-0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
10,728
9,278
7,740
+15.6%
Debt
881
1,283
1,638
-31.3%
Other liabilities
2,653
2,504
2,101
+5.9%
Total liabilities and equity
14,262
13,065
11,479
+9.2%
Fixed assets
1,311
1,271
1,247
+3.1%
Goodwill
2,554
2,405
2,414
+6.2%
Intangible assets
951
864
954
+10.0%
Investments
3,197
2,824
1,765
+13.2%
Trading assets
n/a
0.0
n/a
Cash and equivalents
2,034
2,125
2,010
-4.3%
Receivables
2,556
2,253
1,969
+13.5%
Other assets
1,659
1,323
1,121
+25.4%
Total assets
14,262
13,065
11,479
+9.2%
10-K for the year ended 31 December 2016, filed 19 February 2019: the filing.