Cognizant Technology Solutions (CTSH) FY2017 results: revenue $14.8 billion, up 9.8% on the year
Cognizant Technology Solutions Corp. (CTSH) reported revenue of $14.8 billion for fiscal 2017, the year ended 31 December 2017, up 9.8% on the year before. Net income was $1.5 billion, down 3.2%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$14.8 billion
+9.8% on the year
FY2010FY2017
Operating margin
16.8%
17.0% a year earlier
FY2010FY2017
Net income
$1.5 billion
-3.2% on the year
FY2010FY2017
Diluted EPS
$2.53
-0.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,810
13,487
12,416
+9.8%
Cost of revenue
9,152
n/a
n/a
Gross profit
5,658
n/a
n/a
Gross margin
38.2%
n/a
n/a
Selling, general and administrative
2,697
2,731
2,509
-1.2%
Operating income
2,481
2,289
2,142
+8.4%
Operating margin
16.8%
17.0%
17.3%
Interest expense
23.0
19.0
18.0
+21.1%
Pre-tax income
2,655
2,357
2,164
+12.6%
Income tax
1,153
805
540
+43.2%
Effective tax rate
43.4%
34.2%
25.0%
Net income
1,504
1,553
1,624
-3.2%
Net margin
10.2%
11.5%
13.1%
Diluted EPS
$2.53
$2.55
$2.65
-0.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,407
1,645
2,187
+46.3%
Capital expenditure
284
300
273
-5.3%
Free cash flow
2,123
1,345
1,914
+57.8%
Free cash flow margin
14.3%
10.0%
15.4%
Cash from investing
-582
-963
-1,371
Cash from financing
-1,985
-743
-682
Depreciation and amortisation
443
379
330
+16.9%
Share-based compensation
221
217
192
+1.8%
Buybacks
1,889
512
460
+268.9%
Dividends paid
265
0.0
0.0
Dividend per share
$0.45
$0.00
$0.00
Diluted shares, weighted
595m
610m
613m
-2.5%
Shares outstanding at period end
588m
608m
609m
-3.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
10,669
10,728
9,278
-0.5%
Debt
873
881
1,283
-0.9%
Other liabilities
3,679
2,653
2,504
+38.7%
Total liabilities and equity
15,221
14,262
13,065
+6.7%
Fixed assets
1,324
1,311
1,271
+1.0%
Goodwill
2,704
2,554
2,405
+5.9%
Intangible assets
981
951
864
+3.2%
Investments
3,366
3,197
2,824
+5.3%
Trading assets
n/a
n/a
0.0
Cash and equivalents
1,925
2,034
2,125
-5.4%
Receivables
2,865
2,556
2,253
+12.1%
Other assets
2,056
1,659
1,323
+23.9%
Total assets
15,221
14,262
13,065
+6.7%
10-K for the year ended 31 December 2017, filed 19 February 2019: the filing.