Cognizant Technology Solutions (CTSH) FY2023 results: revenue $19.4 billion, down 0.4% on the year
Cognizant Technology Solutions Corp. (CTSH) reported revenue of $19.4 billion for fiscal 2023, the year ended 31 December 2023, down 0.4% on the year before. Net income was $2.1 billion, down 7.2%, and diluted earnings per share $4.21. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2024.
Revenue
$19.4 billion
-0.4% on the year
FY2016FY2023
Operating margin
13.9%
15.3% a year earlier
FY2016FY2023
Net income
$2.1 billion
-7.2% on the year
FY2016FY2023
Diluted EPS
$4.21
-4.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,330
2,568
2,495
-9.3%
Capital expenditure
317
332
279
-4.5%
Free cash flow
2,013
2,236
2,216
-10.0%
Free cash flow margin
10.4%
11.5%
12.0%
Cash from investing
-331
-106
-2,164
Cash from financing
-1,609
-1,939
-1,203
Depreciation and amortisation
555
569
574
-2.5%
Share-based compensation
176
261
246
-32.6%
Buybacks
1,064
1,422
771
-25.2%
Dividends paid
591
564
509
+4.8%
Dividend per share
$1.16
$1.08
$0.96
+7.4%
Diluted shares, weighted
505m
519m
528m
-2.7%
Shares outstanding at period end
498m
509m
525m
-2.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
13,227
12,309
11,991
+7.5%
Debt
639
646
664
-1.1%
Operating lease liabilities
523
714
783
-26.8%
Finance lease liabilities
16.0
8.0
5.0
+100.0%
Other liabilities
4,078
4,175
4,409
-2.3%
Total liabilities and equity
18,483
17,852
17,852
+3.5%
Fixed assets
1,048
1,101
1,171
-4.8%
Goodwill
6,085
5,710
5,620
+6.6%
Intangible assets
1,149
1,168
1,218
-1.6%
Investments
449
737
1,390
-39.1%
Cash and equivalents
2,621
2,191
1,792
+19.6%
Receivables
3,849
3,796
3,557
+1.4%
Other assets
3,282
3,149
3,104
+4.2%
Total assets
18,483
17,852
17,852
+3.5%
10-K for the year ended 31 December 2023, filed 14 February 2024: the filing.