该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
Cognizant (CTSH) delivered solid FY2025 results with revenue growing 7.0% to $21.1B and operating income surging 17.2% to $3.4B, though net income was nearly flat at $2.23B due to below-the-line items, while operating cash flow jumped 35.7% to $2.9B.
营收
211.08亿美元
同比 +6.95%
每股收益（稀释）
4.56美元
同比 +1.11%
营业利润
33.89亿美元
同比 +17.19%
SEC XBRL 原值
Cognizant Technology Solutions (CTSH) FY2025 营收 211.08亿美元，同比增长 7.0%。 营业利润率 16.1%，较去年同期的 14.7% 扩大 1.4 个百分点。 经营活动现金流 28.83亿美元，同比增长 35.7%。
近 4 个季度：3 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 1.37 | 1.40 | 不及预期 -2.4% |
| 2026年3月 | 1.40 | 1.36 | 超预期 +3.0% |
| 2025年12月本次财报 | 1.35 | 1.35 | 超预期 +0.2% |
| 2025年9月 | 1.39 | 1.33 | 超预期 +4.7% |
2025年12月 实际 EPS 1.35美元，分析师一致预期 1.35美元，超预期 +0.2%。
由 AI 基于本次 SEC 报告整理
Cognizant grew total revenue 7.0% year-over-year to $21.1B in FY2025, up from $19.7B in the prior year, reflecting broad-based demand recovery across its IT services and consulting segments.
来源: 10-K Income Statement (XBRL Financial Data)
Operating margin expanded approximately 140 basis points to 16.1% in FY2025 from 14.7% in FY2024, driven by operating income growth of 17.2% to $3.4B while SG&A expenses remained nearly flat at $3.24B (+0.5% YoY), indicating strong cost discipline.
来源: 10-K Income Statement & Key Ratios (XBRL Financial Data)
Operating cash flow surged 35.7% to $2.88B in FY2025 from $2.12B in FY2024, significantly outpacing net income growth and reflecting improved working capital management and earnings quality.
来源: 10-K Cash Flow Statement (XBRL Financial Data)
Share buybacks more than doubled to $1.38B in FY2025 from $605M in FY2024 (+127.8%), and total financing cash outflows reached $2.27B, signaling management's confidence in the business and commitment to returning capital.
来源: 10-K Cash Flow Statement (XBRL Financial Data)
Long-term debt declined 37.9% to $543M from $875M in the prior year, while stockholders' equity grew 4.2% to $15.0B, resulting in a conservative debt-to-equity ratio of 0.38 and a healthy current ratio of 2.14.
来源: 10-K Balance Sheet (XBRL Financial Data)
由 AI 基于本次 SEC 报告整理 · 高 1 中 3 低 1
Despite operating income growing 17.2%, net income declined slightly by 0.4% to $2.23B, suggesting meaningful below-the-line headwinds such as higher taxes, interest costs, or one-time charges. This divergence between operating and net profitability could weigh on reported EPS growth over time if not resolved.
来源: 10-K Income Statement (XBRL Financial Data)
Cash and equivalents fell 14.8% to $1.90B from $2.23B, primarily driven by aggressive share buybacks of $1.38B and net financing outflows of $2.27B. While the balance sheet remains solid, continued aggressive buybacks without proportional cash generation could constrain financial flexibility.
来源: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
As a large IT services firm, Cognizant is likely exposed to concentration risk among a limited number of large enterprise clients across financial services, healthcare, and technology verticals. Any slowdown in discretionary IT spending by key clients could disproportionately impact revenue growth.
来源: 10-K Business Model Context (XBRL Financial Data)
SG&A expenses of $3.24B represent a significant fixed cost base that grew only modestly (+0.5%), but at $3.24B they remain a large proportion of revenue. If revenue growth decelerates, the inability to rapidly reduce SG&A could compress margins materially.
来源: 10-K Income Statement (XBRL Financial Data)
As a global IT services company with significant delivery operations in India and revenues denominated in multiple currencies, Cognizant faces ongoing foreign exchange risk and geopolitical uncertainty that could affect both cost structures and client demand across regions.
来源: 10-K Business Context (XBRL Financial Data)
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 211.08 亿美元 | 197.36 亿美元 | +6.95% |
营业利润 亿美元 | 33.89 亿美元 | 28.92 亿美元 | +17.19% |
净利润 亿美元 | 22.30 亿美元 | 22.40 亿美元 | -0.45% |
每股收益（基本） 美元 | 4.57 美元 | 4.52 美元 | +1.11% |
每股收益（稀释） 美元 | 4.56 美元 | 4.51 美元 | +1.11% |
销售及管理费用 亿美元 | 32.40 亿美元 | 32.23 亿美元 | +0.53% |
答案基于本次 SEC 报告与本页数据