Jun 2026 (Q2 FY26) — Jul 29, 2026
Cognizant Q2 FY26 — Strong Financial Services Growth and AI-led Transformation
Read the full callCognizant (CTSH) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cognizant earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5,413 | +5.8% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 15.6 | −1.1 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 662 | −0.2% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
20 of 20 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly revenue growth guidance | revenue to grow 3.2% to 4.7% year-over-year in constant currency | Mar 2026 | Revenue grew 4.1% year-over-year in constant currency to $5.5 billion. | Achieved |
| Full-year adjusted EPS guidance | $5.56 to $5.70 | Dec 2025 | Our EPS guidance has increased to $5.70 to $5.82, representing 8% to 10% growth versus 7% to 9% growth previously. | Revised Up |
| Full-year adjusted operating margin guidance | 15.9% to 16.1% | Dec 2025 | Our adjusted operating margin guidance is unchanged at 16% to 16.2%, representing 20 to 40 basis points of year-over-year expansion. | On Track |
20 of COGNIZANT TECHNOLOGY SOLUTIONS CORP's 40 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 37 more targets are in the full ledger.
Claimed
- Revenue grew 4.1% year-over-year in constant currency, meeting the high end of expectations.
- Financial Services revenue grew nearly 12% year-over-year in constant currency, marking its second consecutive quarter of 10-plus percent growth.
- Adjusted operating margin expanded year-over-year for the sixth straight quarter, demonstrating continued profitable revenue growth.
- Trailing 12 months bookings increased 5% to $29 billion, representing a book-to-bill of 1.3.
- The company signed 7 large deals, each with a Total Contract Value (TCV) of more than $100 million, including 3 new logos.
Qualified
- Macro uncertainty remained elevated, leading to a revised full-year revenue guidance range of 4% to 5.5% constant currency growth (from a prior range that contemplated improved discretionary spending).
- The discretionary spending environment remains pressured, impacting short-cycle revenue.
- Days Sales Outstanding (DSO) increased by 5 days year-over-year to 88 days, primarily due to a change in business mix.
Price
$65.77 +5.28% · +$3.3
Performance −2.2% 1Y
1Y: $67.27 on 14 Oct 2025 → $65.77. High $86.7 (14 Jan 2026), low $38.73 (30 Jun 2026).
- Previous close
- $62.47
- 52-week range
- $38.73 – $86.7
- One year
- −1.47%
Overview
- Symbol
- CTSH
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
20 of 20 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly revenue growth guidance | revenue to grow 3.2% to 4.7% year-over-year in constant currency | Mar 2026 | Revenue grew 4.1% year-over-year in constant currency to $5.5 billion. | Achieved |
| Full-year adjusted EPS guidance | $5.56 to $5.70 | Dec 2025 | Our EPS guidance has increased to $5.70 to $5.82, representing 8% to 10% growth versus 7% to 9% growth previously. | Revised Up |
| Full-year adjusted operating margin guidance | 15.9% to 16.1% | Dec 2025 | Our adjusted operating margin guidance is unchanged at 16% to 16.2%, representing 20 to 40 basis points of year-over-year expansion. | On Track |
Claimed
- Revenue grew 4.1% year-over-year in constant currency, meeting the high end of expectations.
- Financial Services revenue grew nearly 12% year-over-year in constant currency, marking its second consecutive quarter of 10-plus percent growth.
- Adjusted operating margin expanded year-over-year for the sixth straight quarter, demonstrating continued profitable revenue growth.
- Trailing 12 months bookings increased 5% to $29 billion, representing a book-to-bill of 1.3.
- The company signed 7 large deals, each with a Total Contract Value (TCV) of more than $100 million, including 3 new logos.
Qualified
- Macro uncertainty remained elevated, leading to a revised full-year revenue guidance range of 4% to 5.5% constant currency growth (from a prior range that contemplated improved discretionary spending).
- The discretionary spending environment remains pressured, impacting short-cycle revenue.
- Days Sales Outstanding (DSO) increased by 5 days year-over-year to 88 days, primarily due to a change in business mix.
The full ledger
Open COGNIZANT TECHNOLOGY SOLUTIONS CORP’s full ledger
A free account opens 5 company ledgers a month. All 40 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Cognizant Q1 FY26 — Strong Bookings and Margin Expansion Amidst Macro Uncertainty
Read the full callEvery analysed call
Cognizant earnings calls (CTSH)
Financials
What the filings say
Net profit, year on year: 0% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,850 | 5,044 | 5,082 | 5,115 | 5,245 | 5,415 | 5,333 | 5,413 |
| Operating profit | 708 | 738 | 751 | 853 | 817 | 866 | 853 | 843 |
| Operating margin | 14.6% | 14.6% | 14.8% | 16.7% | 15.6% | 16.0% | 16.0% | 15.6% |
| Other income | 20 | 10 | -11 | 19 | 25 | 21 | 25 | 24 |
| Interest | 10 | 14 | 19 | 12 | 9 | 8 | 8 | 7 |
| Profit before tax | 728 | 748 | 740 | 872 | 842 | 887 | 878 | 867 |
| Tax rate | 22.7% | 22.7% | 26.9% | 24.4% | 23.4% | 69.1% | 26.8% | 24.0% |
| Net profit | 566 | 582 | 546 | 663 | 645 | 274 | 648 | 662 |
| EPS ($ per share) | 1.14 | 1.17 | — | 1.34 | 1.31 | 0.56 | — | 1.39 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 6 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 11,485 | 11,022 | 10,689 | 11,922 | 12,588 | 13,301 | 14,686 | 15,158 |
| Total liabilities | 4,422 | 5,182 | 6,087 | 5,861 | 5,543 | 5,256 | 5,558 | 5,677 |
| Fixed assets | 1,394 | 1,309 | 1,251 | 1,171 | 1,101 | 1,048 | 994 | 933 |
| Investments | 3,350 | 779 | 44 | 927 | 310 | 14 | 12 | 13 |
| Total assets | 15,846 | 16,204 | 16,923 | 17,852 | 17,852 | 18,483 | 19,966 | 20,692 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,592 | 2,499 | 3,299 | 2,495 | 2,568 | 2,330 | 2,124 | 2,883 |
| Cash from investing | -1,627 | 1,588 | -1,238 | -2,164 | -106 | -331 | -1,646 | -230 |
| Cash from financing | -1,693 | -2,569 | -2,009 | -1,203 | -1,939 | -1,609 | -915 | -2,272 |
| Net cash flow | -764 | 1,484 | 35 | -888 | 502 | 423 | -486 | 403 |
| Capital expenditure | -377 | -392 | -398 | -279 | -332 | -317 | -297 | -288 |
| Free cash flow | 2,215 | 2,107 | 2,901 | 2,216 | 2,236 | 2,013 | 1,827 | 2,595 |
CTSH revenue by segment
Financial Services grew from 29% to 32% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Financial Services | 29% | 28% | 29% | 29% | 29% | 30% | 30% | 32% | +12.0% |
| Health Sciences | 30% | 30% | 31% | 30% | 30% | 30% | 29% | 29% | +1.4% |
| Products and Resources | 24% | 25% | 25% | 25% | 26% | 25% | 24% | 24% | +1.2% |
| Communications Media and Technology | — | — | — | — | — | — | 16% | 16% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CTSH operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Book-to-bill ratio Trailing 12-month | 1.4On a trailing 12-month basis, bookings grew 11% and represented a book-to-bill of 1.4.Source: earnings call transcript | 1.3On a trailing 12-month basis, bookings grew 5% and represented a book-to-bill of 1.3.Source: earnings call transcript | -7.1% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- North America 75% ↑ 1 pt
- Europe 19%
- Europeexcluding United Kingdom 10%
- GB 9% ↓ 1 pt
- Restof World 6% ↓ 1 pt
As CTSH cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
274 filings between Oct 29, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
$209.8K
1 purchase by 1 insider
Sales
$6.32M
34 sales by 6 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 162
- Option exercise — converted options into shares
- 77
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Patsalos-Fox Michael | — | $2.10M | Jan 7, 2026 |
| Gummadi Surya | — | $1.80M | Feb 2, 2026 |
| Kim John Sunshin | — | $1.11M | Sep 2, 2026 |
| Dalal Jatin P | — | $669.2K | Aug 3, 2026 |
| Singisetti Ravi Kumar | — | $501.0K | Dec 19, 2025 |
| ROHLEDER STEPHEN J | $209.8K | — | Jun 10, 2026 |
| Kerdman Alina | — | $144.6K | Sep 30, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Kerdman Alina SVP, Controller & CAO | Option exercise | 207 | — |
| Oct 1, 2026 | Kerdman Alina SVP, Controller & CAO | Tax withheld | 69 | $4.0K |
| Sep 30, 2026 | Kerdman Alina SVP, Controller & CAO | Sale 10b5-1 plan | 139 | $7.9K |
| Sep 15, 2026 | Singisetti Ravi Kumar Chief Executive Officer | Tax withheld | 3,231 | $207.1K |
| Sep 15, 2026 | Diaz Kathryn Chief People Officer | Option exercise | 699 | — |
| Sep 15, 2026 | Gummadi Surya President - Americas | Tax withheld | 988 | $63.3K |
| Sep 15, 2026 | Kerdman Alina SVP, Controller & CAO | Option exercise | 200 | — |
| Sep 15, 2026 | Varrier Rajesh President Operations CMD India | Tax withheld | 468 | $30.0K |
| Sep 15, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Tax withheld | 889 | $57.0K |
| Sep 15, 2026 | Gummadi Surya President - Americas | Option exercise | 598 | — |
| Sep 15, 2026 | Dalal Jatin P Chief Financial Officer | Tax withheld | 1,347 | $86.3K |
| Sep 15, 2026 | Gummadi Surya President - Americas | Option exercise | 1,397 | — |
| Sep 15, 2026 | Diaz Kathryn Chief People Officer | Tax withheld | 373 | $23.9K |
| Sep 15, 2026 | Diaz Kathryn Chief People Officer | Option exercise | 50 | — |
| Sep 15, 2026 | Kerdman Alina SVP, Controller & CAO | Tax withheld | 66 | $4.2K |
| Sep 15, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Option exercise | 1,647 | — |
| Sep 15, 2026 | Varrier Rajesh President Operations CMD India | Option exercise | 272 | — |
| Sep 15, 2026 | Ayyar Balu Ganesh President - APJ and ISG | Option exercise | 849 | — |
| Sep 15, 2026 | Varrier Rajesh President Operations CMD India | Option exercise | 749 | — |
| Sep 15, 2026 | Dalal Jatin P Chief Financial Officer | Option exercise | 1,846 | — |
| Sep 15, 2026 | Varrier Rajesh President Operations CMD India | Option exercise | 249 | — |
| Sep 15, 2026 | Singisetti Ravi Kumar Chief Executive Officer | Option exercise | 5,987 | — |
| Sep 15, 2026 | Dalal Jatin P Chief Financial Officer | Option exercise | 648 | — |
| Sep 14, 2026 | Kerdman Alina SVP, Controller & CAO | Sale 10b5-1 plan | 134 | $8.4K |
| Sep 2, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Sale 10b5-1 plan | 2,500 | $158.4K |
| Sep 1, 2026 | Diaz Kathryn Chief People Officer | Tax withheld | 1,069 | $69.0K |
| Sep 1, 2026 | Dalal Jatin P Chief Financial Officer | Option exercise | 1,964 | — |
| Sep 1, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Option exercise | 408 | — |
| Sep 1, 2026 | Dalal Jatin P Chief Financial Officer | Option exercise | 2,955 | — |
| Sep 1, 2026 | Diaz Kathryn Chief People Officer | Option exercise | 408 | — |
| Sep 1, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Tax withheld | 2,385 | $154.0K |
| Sep 1, 2026 | Singisetti Ravi Kumar Chief Executive Officer | Option exercise | 5,309 | — |
| Sep 1, 2026 | Kerdman Alina SVP, Controller & CAO | Tax withheld | 206 | $13.3K |
| Sep 1, 2026 | Gummadi Surya President - Americas | Option exercise | 2,310 | — |
| Sep 1, 2026 | Kerdman Alina SVP, Controller & CAO | Option exercise | 408 | — |
| Sep 1, 2026 | Kerdman Alina SVP, Controller & CAO | Option exercise | 199 | — |
| Sep 1, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Option exercise | 478 | — |
| Sep 1, 2026 | Diaz Kathryn Chief People Officer | Option exercise | 743 | — |
| Sep 1, 2026 | Kerdman Alina SVP, Controller & CAO | Option exercise | 14 | — |
| Sep 1, 2026 | Gummadi Surya President - Americas | Option exercise | 1,168 | — |
| Sep 1, 2026 | Gummadi Surya President - Americas | Option exercise | 319 | — |
| Sep 1, 2026 | Varrier Rajesh President Operations CMD India | Option exercise | 340 | — |
| Sep 1, 2026 | Singisetti Ravi Kumar Chief Executive Officer | Tax withheld | 8,187 | $528.7K |
| Sep 1, 2026 | Kim John Sunshin CLO, CAO & Corporate Secretary | Option exercise | 1,274 | — |
| Sep 1, 2026 | Ayyar Balu Ganesh President - APJ and ISG | Option exercise | 1,155 | — |
| Sep 1, 2026 | Ayyar Balu Ganesh President - APJ and ISG | Option exercise | 903 | — |
| Sep 1, 2026 | Gummadi Surya President - Americas | Option exercise | 1,427 | — |
| Sep 1, 2026 | Varrier Rajesh President Operations CMD India | Option exercise | 204 | — |
| Sep 1, 2026 | Varrier Rajesh President Operations CMD India | Tax withheld | 210 | $13.6K |
| Sep 1, 2026 | Diaz Kathryn Chief People Officer | Option exercise | 985 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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