83/100B64.735
USD
-1.83
(-2.74%)
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Fair value88.79Plus-27%46Price 64.74142
Q4 FY2026 · Earnings report
EPS estimate 1.50Revenue estimate 5.55B
Q4 FY2026 · Earnings report
EPS estimate 1.50Revenue estimate 5.55B
Cognizant Technology Solutions free cash flow 1998–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
Cognizant Technology Solutions's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 925.00M USD, down 20.3% on the same quarter a year before. Cognizant Technology Solutions's free cash flow over the last twelve months was 2.36B USD, down 10.9% on the twelve months before. In fiscal year 2025 it was 2.60B USD, up 42.0% on the year before.
Last updated 6 Nov 2026 · Next report 3 Feb 2027
Free cash flow
Free cash flow · +3.3% a year over 10 yearsFree cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | 2.36B | -10.86% | 10.79% | 2.69B | -331.00M | 5.04 |
| FY2025 | 31 Dec 2025 | 2.60B | +42.04% | 12.29% | 2.88B | -288.00M | 5.38 |
| FY2024 | 31 Dec 2024 | 1.83B | -9.24% | 9.26% | 2.12B | -297.00M | 3.68 |
| FY2023 | 31 Dec 2023 | 2.01B | -9.97% | 10.40% | 2.33B | -317.00M | 3.99 |
| FY2022 | 31 Dec 2022 | 2.24B | +0.90% | 11.51% | 2.57B | -332.00M | 4.31 |
| FY2021 | 31 Dec 2021 | 2.22B | -23.61% | 11.97% | 2.50B | -279.00M | 4.20 |
| FY2020 | 31 Dec 2020 | 2.90B | +37.68% | 17.42% | 3.30B | -398.00M | 5.36 |
| FY2019 | 31 Dec 2019 | 2.11B | -4.88% | 12.55% | 2.50B | -392.00M | 3.76 |
| FY2018 | 31 Dec 2018 | 2.22B | +4.33% | 13.74% | 2.59B | -377.00M | 3.79 |
| FY2017 | 31 Dec 2017 | 2.12B | +60.71% | 14.33% | 2.41B | -284.00M | 3.57 |
| FY2016 | 31 Dec 2016 | 1.32B | -29.75% | 9.79% | 1.62B | -300.00M | 2.17 |
| FY2015 | 31 Dec 2015 | 1.88B | +49.15% | 15.15% | 2.15B | -272.80M | 3.07 |
| FY2014 | 31 Dec 2014 | 1.26B | +8.49% | 12.28% | 1.47B | -212.20M | 2.06 |
| FY2013 | 31 Dec 2013 | 1.16B | +38.66% | 13.14% | 1.42B | -261.63M | 1.91 |
| FY2012 | 31 Dec 2012 | 838.12M | +42.80% | 11.41% | 1.17B | -334.47M | 1.37 |
| FY2011 | 31 Dec 2011 | 586.93M | +1.34% | 9.59% | 875.15M | -288.22M | 0.95 |
| FY2010 | 31 Dec 2010 | 579.14M | -2.78% | 12.61% | 764.65M | -185.51M | 0.94 |
| FY2009 | 31 Dec 2009 | 595.69M | +128.85% | 18.17% | 672.33M | -76.64M | 0.99 |
| FY2008 | 31 Dec 2008 | 260.30M | +60.82% | 9.24% | 429.71M | -169.41M | 0.44 |
| FY2007 | 31 Dec 2007 | 161.85M | +9.26% | 7.58% | 344.32M | -182.47M | 0.27 |
| FY2006 | 31 Dec 2006 | 148.14M | +68.36% | 10.40% | 252.88M | -104.73M | 0.25 |
| FY2005 | 31 Dec 2005 | 87.99M | +8.96% | 9.93% | 159.76M | -71.77M | 0.15 |
| FY2004 | 31 Dec 2004 | 80.75M | +61.92% | 13.76% | 127.33M | -46.58M | 0.14 |
| FY2003 | 31 Dec 2003 | 49.87M | +44.91% | 13.54% | 79.86M | -29.99M | 0.09 |
| FY2002 | 31 Dec 2002 | 34.41M | +100.95% | 15.02% | 56.68M | -22.27M | 0.07 |
| FY2001 | 31 Dec 2001 | 17.13M | -12.48% | 9.63% | 32.08M | -14.95M | 0.04 |
| FY2000 | 31 Dec 2000 | 19.57M | +54.08% | 14.28% | 30.22M | -10.65M | 0.04 |
| FY1999 | 31 Dec 1999 | 12.70M | +30.93% | 14.29% | 18.60M | -5.90M | 0.03 |
| FY1998 | 31 Dec 1998 | 9.70M | — | 16.55% | 13.40M | -3.70M | 0.02 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 925.00M | -20.26% | 16.33% | 1.00B | -79.00M | 2.06 |
| Q2 FY2026 | 30 Jun 2026 | 459.00M | +38.67% | 8.37% | 558.00M | -99.00M | 0.98 |
| Q1 FY2026 | 31 Mar 2026 | 198.00M | -38.70% | 3.66% | 274.00M | -76.00M | 0.42 |
| Q4 FY2025 | 31 Dec 2025 | 781.00M | -6.69% | 14.64% | 858.00M | -77.00M | 1.62 |
| Q3 FY2025 | 30 Sept 2025 | 1.16B | +46.65% | 21.42% | 1.23B | -67.00M | 2.38 |
| Q2 FY2025 | 30 Jun 2025 | 331.00M | +80.87% | 6.31% | 398.00M | -67.00M | 0.67 |
| Q1 FY2025 | 31 Mar 2025 | 323.00M | +1,918.75% | 6.31% | 400.00M | -77.00M | 0.65 |
| Q4 FY2024 | 31 Dec 2024 | 837.00M | +27.01% | 16.47% | 920.00M | -83.00M | 1.68 |
| Q3 FY2024 | 30 Sept 2024 | 791.00M | +4.77% | 15.68% | 847.00M | -56.00M | 1.59 |
| Q2 FY2024 | 30 Jun 2024 | 183.00M | — | 3.77% | 262.00M | -79.00M | 0.37 |
| Q1 FY2024 | 31 Mar 2024 | 16.00M | -97.46% | 0.34% | 95.00M | -79.00M | 0.03 |
| Q4 FY2023 | 31 Dec 2023 | 659.00M | +7.68% | 13.85% | 737.00M | -78.00M | 1.32 |
| Q3 FY2023 | 30 Sept 2023 | 755.00M | -20.78% | 15.42% | 828.00M | -73.00M | 1.50 |
| Q2 FY2023 | 30 Jun 2023 | -32.00M | -106.60% | -0.65% | 36.00M | -68.00M | -0.06 |
| Q1 FY2023 | 31 Mar 2023 | 631.00M | +239.25% | 13.11% | 729.00M | -98.00M | 1.24 |
| Q4 FY2022 | 31 Dec 2022 | 612.00M | -19.47% | 12.65% | 702.00M | -90.00M | 1.19 |
| Q3 FY2022 | 30 Sept 2022 | 953.00M | +6.24% | 19.62% | 1.03B | -79.00M | 1.84 |
| Q2 FY2022 | 30 Jun 2022 | 485.00M | +4.08% | 9.89% | 528.00M | -43.00M | 0.93 |
| Q1 FY2022 | 31 Mar 2022 | 186.00M | +100.00% | 3.85% | 306.00M | -120.00M | 0.35 |
| Q4 FY2021 | 31 Dec 2021 | 760.00M | -6.06% | 15.91% | 825.00M | -65.00M | 1.44 |
| Q3 FY2021 | 30 Sept 2021 | 897.00M | +9.26% | 18.91% | 948.00M | -51.00M | 1.71 |
| Q2 FY2021 | 30 Jun 2021 | 466.00M | -47.40% | 10.16% | 541.00M | -75.00M | 0.88 |
| Q1 FY2021 | 31 Mar 2021 | 93.00M | -75.84% | 2.11% | 181.00M | -88.00M | 0.18 |
| Q4 FY2020 | 31 Dec 2020 | 809.00M | -4.26% | 19.34% | 898.00M | -89.00M | 1.51 |
| Q3 FY2020 | 30 Sept 2020 | 821.00M | +32.42% | 19.35% | 925.00M | -104.00M | 1.51 |
| Q2 FY2020 | 30 Jun 2020 | 886.00M | +84.97% | 22.15% | 979.00M | -93.00M | 1.64 |
| Q1 FY2020 | 31 Mar 2020 | 385.00M | +136.20% | 9.11% | 497.00M | -112.00M | 0.71 |
| Q4 FY2019 | 31 Dec 2019 | 845.00M | +39.44% | 19.72% | 938.00M | -93.00M | 1.54 |
| Q3 FY2019 | 30 Sept 2019 | 620.00M | -19.27% | 14.60% | 717.00M | -97.00M | 1.13 |
| Q2 FY2019 | 30 Jun 2019 | 479.00M | -12.75% | 11.57% | 575.00M | -96.00M | 0.85 |
| Q1 FY2019 | 31 Mar 2019 | 163.00M | -44.18% | 3.97% | 269.00M | -106.00M | 0.28 |
| Q4 FY2018 | 31 Dec 2018 | 606.00M | -19.84% | 14.68% | 702.00M | -96.00M | 1.05 |
| Q3 FY2018 | 30 Sept 2018 | 768.00M | +10.50% | 18.83% | 862.00M | -94.00M | 1.32 |
| Q2 FY2018 | 30 Jun 2018 | 549.00M | +19.09% | 13.70% | 640.00M | -91.00M | 0.94 |
| Q1 FY2018 | 31 Mar 2018 | 292.00M | +38.39% | 7.46% | 388.00M | -96.00M | 0.50 |
| Q4 FY2017 | 31 Dec 2017 | 756.00M | +47.83% | 19.75% | 836.00M | -80.00M | 1.28 |
| Q3 FY2017 | 30 Sept 2017 | 695.00M | +33.71% | 18.45% | 773.00M | -78.00M | 1.17 |
| Q2 FY2017 | 30 Jun 2017 | 461.00M | +61.92% | 12.56% | 521.00M | -60.00M | 0.78 |
| Q1 FY2017 | 31 Mar 2017 | 211.00M | +4,037.25% | 5.95% | 277.00M | -66.00M | 0.35 |
| Q4 FY2016 | 31 Dec 2016 | 511.40M | -16.97% | 14.77% | 598.60M | -87.20M | 0.84 |
| Q3 FY2016 | 30 Sept 2016 | 519.80M | -30.95% | 15.05% | 594.00M | -74.20M | 0.85 |
| Q2 FY2016 | 30 Jun 2016 | 284.70M | -25.18% | 8.45% | 359.60M | -74.90M | 0.47 |
| Q1 FY2016 | 31 Mar 2016 | 5.10M | -96.12% | 0.16% | 68.80M | -63.70M | 0.01 |
| Q4 FY2015 | 31 Dec 2015 | 615.90M | +146.81% | 19.05% | 690.00M | -74.10M | 1.01 |
| Q3 FY2015 | 30 Sept 2015 | 752.80M | +42.69% | 23.62% | 817.90M | -65.10M | 1.23 |
| Q2 FY2015 | 30 Jun 2015 | 380.50M | +2.95% | 12.33% | 456.10M | -75.60M | 0.62 |
| Q1 FY2015 | 31 Mar 2015 | 131.30M | +15.11% | 4.51% | 189.30M | -58.00M | 0.21 |
| Q4 FY2014 | 31 Dec 2014 | 249.54M | -37.39% | 9.10% | 324.20M | -74.66M | 0.41 |
| Q3 FY2014 | 30 Sept 2014 | 527.59M | +18.02% | 20.44% | 583.18M | -55.59M | 0.86 |
| Q2 FY2014 | 30 Jun 2014 | 369.61M | +17.25% | 14.68% | 408.31M | -38.70M | 0.60 |
| Q1 FY2014 | 31 Mar 2014 | 114.06M | +8,790.41% | 4.71% | 157.32M | -43.26M | 0.19 |
| Q4 FY2013 | 31 Dec 2013 | 398.59M | +68.82% | 16.92% | 505.87M | -107.28M | 0.65 |
| Q3 FY2013 | 30 Sept 2013 | 447.04M | +41.96% | 19.39% | 478.88M | -31.84M | 0.73 |
| Q2 FY2013 | 30 Jun 2013 | 315.23M | +28.26% | 14.59% | 365.56M | -50.33M | 0.52 |
| Q1 FY2013 | 31 Mar 2013 | 1.28M | -96.89% | 0.06% | 73.47M | -72.19M | 0.00 |
| Q4 FY2012 | 31 Dec 2012 | 236.11M | +47.11% | 12.12% | 361.86M | -125.75M | 0.39 |
| Q3 FY2012 | 30 Sept 2012 | 314.92M | +23.38% | 16.65% | 384.86M | -69.94M | 0.52 |
| Q2 FY2012 | 30 Jun 2012 | 245.78M | +35.51% | 13.69% | 324.10M | -78.32M | 0.40 |
| Q1 FY2012 | 31 Mar 2012 | 41.31M | — | 2.41% | 101.76M | -60.45M | 0.07 |
| Q4 FY2011 | 31 Dec 2011 | 160.51M | -49.49% | 9.65% | 285.07M | -124.56M | 0.26 |
| Q3 FY2011 | 30 Sept 2011 | 255.23M | +34.37% | 15.94% | 329.34M | -74.11M | 0.41 |
| Q2 FY2011 | 30 Jun 2011 | 181.38M | +94.30% | 12.21% | 215.11M | -33.74M | 0.29 |
| Q1 FY2011 | 31 Mar 2011 | -10.19M | — | -0.74% | 45.63M | -55.82M | -0.02 |
| Q4 FY2010 | 31 Dec 2010 | 317.74M | +42.55% | 24.24% | 392.29M | -74.55M | 0.52 |
| Q3 FY2010 | 30 Sept 2010 | 189.94M | +7.64% | 15.61% | 234.74M | -44.80M | 0.31 |
| Q2 FY2010 | 30 Jun 2010 | 93.35M | -34.13% | 8.45% | 135.29M | -41.95M | 0.15 |
| Q1 FY2010 | 31 Mar 2010 | -21.89M | -140.08% | -2.28% | 2.33M | -24.22M | -0.04 |
| Q4 FY2009 | 31 Dec 2009 | 222.90M | +31.25% | 24.69% | 237.52M | -14.63M | 0.37 |
| Q3 FY2009 | 30 Sept 2009 | 176.47M | +124.37% | 20.68% | 208.46M | -31.99M | 0.29 |
| Q2 FY2009 | 30 Jun 2009 | 141.71M | +229.72% | 18.25% | 151.26M | -9.55M | 0.24 |
| Q1 FY2009 | 31 Mar 2009 | 54.62M | — | 7.32% | 75.09M | -20.47M | 0.09 |
| Q4 FY2008 | 31 Dec 2008 | 169.83M | +118.11% | 22.55% | 192.91M | -23.09M | 0.29 |
| Q3 FY2008 | 30 Sept 2008 | 78.65M | -12.94% | 10.70% | 139.77M | -61.12M | 0.13 |
| Q2 FY2008 | 30 Jun 2008 | 42.98M | +336.68% | 6.27% | 74.77M | -31.79M | 0.07 |
| Q1 FY2008 | 31 Mar 2008 | -31.16M | — | -4.85% | 22.26M | -53.42M | -0.05 |
| Q4 FY2007 | 31 Dec 2007 | 77.86M | -8.33% | 12.98% | 149.90M | -72.03M | 0.14 |
| Q3 FY2007 | 30 Sept 2007 | 90.34M | +49.27% | 16.17% | 129.90M | -39.56M | 0.15 |
| Q2 FY2007 | 30 Jun 2007 | 9.84M | -63.81% | 1.91% | 52.04M | -42.20M | 0.02 |
| Q1 FY2007 | 31 Mar 2007 | -16.19M | — | -3.52% | 12.48M | -28.68M | -0.03 |
| Q4 FY2006 | 31 Dec 2006 | 84.94M | +93.02% | 20.01% | 118.46M | -33.52M | 0.15 |
| Q3 FY2006 | 30 Sept 2006 | 60.52M | +69.64% | 16.03% | 86.75M | -26.22M | 0.10 |
| Q2 FY2006 | 30 Jun 2006 | 27.20M | +56.82% | 8.07% | 51.60M | -24.40M | 0.05 |
| Q1 FY2006 | 31 Mar 2006 | -24.51M | — | -8.59% | -3.93M | -20.59M | -0.04 |
| Q4 FY2005 | 31 Dec 2005 | 44.00M | +62.93% | 17.13% | 66.20M | -22.20M | 0.08 |
| Q3 FY2005 | 30 Sept 2005 | 35.68M | +34.64% | 15.15% | 62.90M | -27.22M | 0.06 |
| Q2 FY2005 | 30 Jun 2005 | 17.34M | -36.19% | 8.19% | 31.06M | -13.71M | 0.03 |
| Q1 FY2005 | 31 Mar 2005 | -9.03M | -13,385.29% | -4.97% | -394.00K | -8.64M | -0.02 |
| Q4 FY2004 | 31 Dec 2004 | 27.01M | -4.14% | 15.63% | 51.80M | -24.79M | 0.05 |
| Q3 FY2004 | 30 Sept 2004 | 26.50M | +113.69% | 17.05% | 41.97M | -15.47M | 0.05 |
| Q2 FY2004 | 30 Jun 2004 | 27.18M | +215.12% | 19.59% | 30.81M | -3.63M | 0.05 |
| Q1 FY2004 | 31 Mar 2004 | 68.00K | -89.90% | 0.06% | 2.76M | -2.69M | 0.00 |
| Q4 FY2003 | 31 Dec 2003 | 28.17M | +338.35% | 26.05% | 37.90M | -9.73M | 0.05 |
| Q3 FY2003 | 30 Sept 2003 | 12.40M | -0.42% | 12.64% | 18.96M | -6.56M | 0.02 |
| Q2 FY2003 | 30 Jun 2003 | 8.63M | -13.35% | 9.86% | 16.27M | -7.65M | 0.02 |
| Q1 FY2003 | 31 Mar 2003 | 673.00K | -87.94% | 0.90% | 6.73M | -6.05M | 0.00 |
| Q4 FY2002 | 31 Dec 2002 | 6.43M | +56.68% | 9.59% | 21.10M | -14.67M | 0.01 |
| Q3 FY2002 | 30 Sept 2002 | 12.45M | +20.11% | 20.34% | 15.21M | -2.76M | 0.02 |
| Q2 FY2002 | 30 Jun 2002 | 9.95M | +131.11% | 18.31% | 12.85M | -2.90M | 0.02 |
| Q1 FY2002 | 31 Mar 2002 | 5.58M | — | 12.01% | 7.53M | -1.94M | 0.01 |
| Q4 FY2001 | 31 Dec 2001 | 4.10M | -53.01% | 9.44% | 8.36M | -4.26M | 0.01 |
| Q3 FY2001 | 30 Sept 2001 | 10.37M | +43.85% | 22.78% | 15.77M | -5.41M | 0.02 |
| Q2 FY2001 | 30 Jun 2001 | 4.31M | -31.69% | 9.48% | 6.49M | -2.18M | 0.01 |
| Q1 FY2001 | 31 Mar 2001 | -1.65M | — | -3.80% | 1.46M | -3.11M | -0.00 |
| Q4 FY2000 | 31 Dec 2000 | 8.73M | +13.38% | 21.27% | 13.03M | -4.30M | 0.02 |
| Q3 FY2000 | 30 Sept 2000 | 7.21M | +71.60% | 19.42% | 10.69M | -3.48M | 0.01 |
| Q2 FY2000 | 30 Jun 2000 | 6.31M | +50.12% | 19.83% | 8.39M | -2.08M | 0.01 |
| Q1 FY2000 | 31 Mar 2000 | -2.67M | — | -9.88% | -1.88M | -793.00K | -0.01 |
| Q4 FY1999 | 31 Dec 1999 | 7.70M | +234.78% | 31.95% | 8.70M | -1.00M | 0.02 |
| Q3 FY1999 | 30 Sept 1999 | 4.20M | -6.67% | 18.34% | 5.90M | -1.70M | 0.01 |
| Q2 FY1999 | 30 Jun 1999 | 4.20M | — | 19.54% | 6.20M | -2.00M | 0.01 |
| Q1 FY1999 | 31 Mar 1999 | -3.40M | — | -16.65% | -2.20M | -1.20M | -0.01 |
| Q4 FY1998 | 31 Dec 1998 | 2.30M | — | 11.79% | 3.60M | -1.30M | 0.01 |
| Q3 FY1998 | 30 Sept 1998 | 4.50M | — | 27.78% | 5.10M | -600.00K | 0.01 |
Figures in USD. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Cognizant Technology Solutions's free cash flow
Source: Financial Modeling Prep