Cognizant earnings date and guidance
MyStockButler's October 2026 analysis: Cognizant's next results are expected on October 29, 2026. Watch whether Cognizant converts contracts into revenue and cash.
What has Cognizant guided for 2026?
Cognizant’s 2026 outlook calls for revenue of $22.04–$22.35 billion and constant-currency growth of 4.0%–5.5%. Constant currency removes exchange-rate movements, while inorganic growth comes from acquisitions. The outlook includes 150 basis points, or 1.5 percentage points, of acquired growth; the rest must come from the existing business.
Management lowered the growth ceiling from 6.5% to 5.5% but raised adjusted EPS to $5.70–$5.82. Adjusted EPS excludes specified items such as Project Leap restructuring charges. The adjusted operating-margin target remains 16.0%–16.2%, so the better earnings forecast does not represent a stronger sales outlook.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue (US$ billions) | Year to Dec 2026 | 22.04 | 22.35 | Jul 29, 2026 |
| Constant currency revenue growth (%) | Year to Dec 2026 | 4.0% | 5.5% | Jul 29, 2026 |
| Adjusted Operating Margin (%) | Year to Dec 2026 | 16.0% | 16.2% | Jul 29, 2026 |
| Adjusted Diluted EPS (US$ per share) | Year to Dec 2026 | 5.70 | 5.82 | Jul 29, 2026 |
| Revenue (US$ billions) | Quarter to Sep 2026 | 5.60 | 5.68 | Jul 29, 2026 |
| Constant currency revenue growth (%) | Quarter to Sep 2026 | 3.8% | 5.3% | Jul 29, 2026 |
| Share repurchase expectation (US$ billions) | Year to Dec 2026 | 2.00 | 2.00 | May 18, 2026 |
| Project Leap charges | Year to Dec 2026 | 230 | 320 | Jul 29, 2026 |
Has Cognizant kept its promises?
The company’s checked quarterly record is strong: no quarter missed its initial revenue or constant-currency range. But the annual growth ceiling was cut, so the promise is credible without being risk-free.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Revenue | 7 quarters | 4 | 3 | 0 |
| Constant currency ("CC") revenue growth | 7 quarters | 4 | 3 | 0 |
What is Cognizant's revenue and profit trend?
Revenue recovered after a weak 2023, but 2025 growth includes acquisition contribution; organic constant-currency growth, which removes exchange-rate effects, shows the core trend. Operating margin improved by 2025 as gross margin trended down. Cognizant’s real free cash flow recovered in 2025, while EPS and real free cash flow per share moved differently; buybacks reduced dilution. The lower forward multiple partly reflects the 2025 deferred-tax charge that depressed reported earnings, an accounting effect separate from operating outlook.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,481 | 5,413 | 5,333 | 5,415 | 5,245 | 5,115 | 5,082 | 5,044 |
| Gross margin | 33.4% | 32.8% | 33.7% | 33.9% | 33.7% | 33.6% | 35.1% | 34.4% |
| Operating income | 874 | 843 | 853 | 866 | 817 | 853 | 751 | 738 |
| Net income | 636 | 662 | 648 | 274 | 645 | 663 | 546 | 582 |
| EPS, diluted | 1.36 | 1.39 | 1.34 | 0.56 | 1.31 | 1.34 | 1.10 | 1.17 |
What this means. September 2025 net income looks unusually low because it includes a one-time tax charge that did not require the company to pay cash.
What should you watch in Cognizant's next results?
The next results must show whether Cognizant is converting contracts into revenue and cash.