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Cognizant Technology Solutions (CTSH) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Cognizant Technology Solutions (CTSH) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $5.7B · 11¢ of every $1 of revenue kept as net profit · operating margin 15.4%

Cognizant Technology Solutions made $5.7B in Q3 2026 (+5% Y/Y): Financial Services $1.8B, Healthcare Segment $1.6B, Products and Resources $1.4B. Operating margin 15.4%, net earnings $627M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$5.7B
Year over year+5%
Operating margin15.4%
Net earnings$627M
Operating cash flow$1.0B

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Cognizant Technology Solutions Q3 2026 revenue breakdown: Sankey diagram of revenue (Financial Services, Healthcare Segment, Products and Resources, Communications, Media and Technology), costs, profit and cash flow
Cognizant Technology Solutions Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $5.7B in Q3 2026, up 5% year over year and up 3% from the previous quarter. Financial Services was the largest line at 31% of revenue. Financial Services added $0.19B year over year (up 12%), 76% of the total change. Healthcare Segment declined 1%.

Operating profit was $0.87B, a 15.4% margin (down 0.6 points year over year). Of the extra revenue versus Q3 2025, 2% reached operating profit, below the 16% margin then. Total costs grew 5% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+48%). Net earnings were $0.63B, up 129% year over year. The effective tax rate was 27.5%.

Operating cash flow was $1.0B (down 18% year over year), 160% of net earnings. Non-cash charges added back $0.15B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.18B. After purchases of property and equipment ($0.08B), free cash flow as the company reports it was $0.93B.

Quarterly history

Cognizant Technology Solutions revenue by quarterCognizant Technology Solutions revenue by quarter$5.1BQ1 2025$5.2BQ2 2025$5.4BQ3 2025$5.3BQ4 2025$5.4BQ1 2026$5.5BQ2 2026$5.7BQ3 2026
Cognizant Technology Solutions net earnings by quarterCognizant Technology Solutions net earnings by quarter$663MQ1 2025$645MQ2 2025$274MQ3 2025$648MQ4 2025$662MQ1 2026$636MQ2 2026$627MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$5.7B+5%15.4%$627M$1.0B
Q2 202610-QJul 29, 2026$5.5B+4%15.9%$636M$558M
Q1 202610-QApr 29, 2026$5.4B+6%15.6%$662M$274M
Q4 202510-KFeb 12, 2026$5.3B+5%16.0%$648M$858M
Q3 202510-QOct 29, 2025$5.4B+7%16.0%$274M$1.2B
Q2 202510-QJul 31, 2025$5.2B+8%15.6%$645M$398M
Q1 202510-QMay 1, 2025$5.1B+8%16.7%$663M$400M

Charts

Cognizant Technology Solutions: revenue growth, year over year and quarter over quarterCognizant Technology Solutions: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q1 2025+8%+3%Q2 2025+7%+3%Q3 2025+5%-2%Q4 2025+6%+2%Q1 2026+4%+1%Q2 2026+5%+3%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q +3%.
Cognizant Technology Solutions: where the cash came from (+) and went (−), TTM to Q3 2026Cognizant Technology Solutions: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$2.7BBuybacks−$2.2BAcquisitions−$1.3BNet borrowing (+) / repaid (−)$1.0BCash drawn (+) / kept (−)$826MDividends−$616MCapital spending−$331MShares issued$53.0MOther investing−$48.0MOther financing−$44.0MExchange rates−$6.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Cognizant Technology Solutions: profit against cash, quarter by quarterCognizant Technology Solutions: profit against cash, quarter by quarterNet incomeOperating cash flow$546M$920MQ4 2024$663M$400MQ1 2025$645M$398MQ2 2025$274M$1.2BQ3 2025$648M$858MQ4 2025$662M$274MQ1 2026$636M$558MQ2 2026$627M$1.0BQ3 2026
Latest (Q3 2026): Net income $627M, Operating cash flow $1.0B.
Cognizant Technology Solutions: diluted shares by fiscal yearCognizant Technology Solutions: diluted shares by fiscal year541MFY2020528MFY2021519MFY2022505MFY2023497MFY2024489MFY2025
-9.6% since FY2020: buybacks shrank the count.
Cognizant Technology Solutions in its industry: growth against margin (17 companies, SIC 7371)Cognizant Technology Solutions in its industry: growth against margin (17 companies, SIC 7371)revenue growth, year over year →↑ operating marginmedian +5%median -1%EPAMZSVRSNRDNWDOCSIANIXXBMTMRGTISBIGCYCUBTLNCYNANKMDSFTSensei Harbor Corp.CTSH (+5%, 15%)
Services-Computer Programming Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Cognizant Technology Solutions

Cognizant is one of the world’s leading professional services companies, engineering modern businesses and delivering strategic outcomes for our clients. We help clients modernize technology, reimagine processes and transform experiences so they can stay ahead in today's fast-changing world, where AI is reshaping organizations in every field. As an AI builder, we provide deep expertise at the intersection of industry and technology, combining our perspective with extensive knowledge of our clients' organizations to build industry-specific platforms and incorporate context into systems, AI models and custom solutions. We tailor our services and solutions to specific industries with an integrated global delivery model that employs client service and delivery teams based at client locations and dedicated global and regional delivery centers.

In its own words, from its 10-K, filed Feb 12, 2026.

Cognizant Technology Solutions against its Services-Computer Programming Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +6%. Operating margin: 15.4% against the peers' median 12.3%.

CompanyQuarterRevenueY/YOp. margin
CTSH Cognizant Technology SolutionsQ3 2026$5.7B+5%15.4%
EPAM Epam SystemsQ3 2026$1.4B+2%12.3%
ZS ZscalerQ4 FY26$898M+25%-1.7%
VRSN VeriSignQ3 2026$443M+6%66.9%
RDNW RideNow GroupQ2 2026$297M-1%6.0%
DOCS DoximityQ2 FY27$175M+4%25.2%
XTIA XTI AerospaceQ2 2026$32.4M—-28.0%
IA Innovative Solutions & SupportQ3 FY26$26.7M+11%22.6%
NIXX NixxyQ2 2026$16.1M+20%-10.1%

Source: Cognizant Technology Solutions 10-Q on SEC EDGAR · CIK 1058290 · Services-Computer Programming Services

Guidance and outlook

Cognizant Technology Solutions Revenue: guidance against what was reportedCognizant Technology Solutions Revenue: guidance against what was reportedguided rangereported (above / within / below)Q3 2025$5.4BFY2025$21.1BQ4 2025$5.3BFY2026Q1 2026$5.4BQ2 2026$5.5BQ3 2026$5.7BQ4 2026
Met or beat 9 of 9 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Cognizant Technology Solutions GAAP operating margin: guidance against what was reportedCognizant Technology Solutions GAAP operating margin: guidance against what was reportedguided rangereported (above / within / below)FY202414.7%FY202516.1%FY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Cognizant Technology Solutions: what its forward-looking statements are about (10-Q filed 2026-10-29)Cognizant Technology Solutions: what its forward-looking statements are about (10-Q filed 2026-10-29)The economy7Margins5Costs4Other3Deals2People1Demand1AI1
24 statements; tone +0.25 (−1 all cautious, +1 all confident); 3 hedged.
Cognizant Technology Solutions: outlook statements against the filing beforeCognizant Technology Solutions: outlook statements against the filing beforeNew10Updated5Dropped1Confident9Cautious3

13F: who owns CTSH and who is buying

Largest holders of CTSH (13F)Largest holders of CTSH (13F)Vanguard Group$5.0BBlackRock$1.8BPzena Investment Management LLC$1.4BVanguard Capital Management LLC$1.2BVanguard Portfolio Management LLC$1.0BState Street$980MInvesco$702MGeode Capital Management, LLC$575MDodge & COX$563MFIL$372M
Funds' net buying of CTSH by quarter (13F)Funds' net buying of CTSH by quarter (13F)−$205M2024-09$35.5M2024-12$347M2025-03−$12.2M2025-06$10.0M2025-09$990M2025-12$437M2026-03$849M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CTSH

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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