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Cognizant cash flow statement

In fiscal 2025, Cognizant's operations generated $2.88bn of cash; it spent $288m on capital projects, leaving free cash flow of $2.60bn. It returned $610m in dividends and $1.38bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations6727658751,1731,4241,4732,1871,6452,4072,5922,4993,2992,4952,5682,3302,1242,8832,694
Depreciation and amortisation89110124157180208330379443498526559574569555542550573
Stock-based pay455790107119135192217221267217232246261176175181193
Capital spending77186288334262212273300284377392398279332317297288331
Free cash flow5965795878381,1621,2611,9141,3452,1232,2152,1072,9012,2162,2362,0131,8272,5952,363
Free cash flow after stock pay5515224977311,0431,1261,7221,1281,9021,9481,8902,6691,9701,9751,8371,6522,4142,170
Dividends paid——————00265468453480509564591600610616
Share buybacks16593745211792484605121,8891,2612,2471,6217711,4221,0646051,3782,215

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Cognizant's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cognizant.