Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-17.
Street snapshot
The 25 price targets span $42 to $88, around a $63.90 mean and $65 median.
Currency: USD · Scale: money in millions, absolute (per share) · Analyst counts shown explicitly; recommendation respondents: 29.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 11, Outperform 2, Hold 16, Underperform 0, Sell 0 | 29 |
| Consensus score | 2.17 | 29 |
| Target price | mean 63.90; high 88.00; low 42.00 | 25 |
Forward table
Currency: USD · Scale: money in millions, absolute (per share) · Analyst count is the estimate count for each period and metric.
| Period | Metric | Mean | YoY | Analysts | Low / high |
|---|---|---|---|---|---|
| FY0E | Revenue | 22,299 | 5.6% | 29 | 22,162 / 22,416 |
| FY0E | EBITDA | 4,111 | 6.0% | 13 | 3,869 / 4,497 |
| FY0E | EBIT | 3,550 | 6.8% | — | — / — |
| FY0E | Net income (GAAP) | 2,585 | 15.9% | 16 | 2,464 / 2,717 |
| FY0E | Net income (normalized) | 2,696 | 4.7% | — | — / — |
| FY0E | EPS (GAAP) | 5.48 | 20.2% | 18 | 5.24 / 5.73 |
| FY0E | EPS (normalized) | 5.69 | 7.8% | 29 | 5.30 / 5.76 |
| FY0E | Free cash flow | 2,540 | 1.2% | — | — / — |
| FY0E | Dividend per share | 1.32 | 6.7% | — | — / — |
| FY0E | Gross margin | 33.3% | -1.6% | — | — / — |
| FY0E | Capital expenditure | -361.8 | 27.9% | — | — / — |
| FY0E | Net debt | -2,868 | 38.5% | — | — / — |
| FY0E | ROE | 17.5% | 7.0% | — | — / — |
| FY0E | Cash from operations | 2,905 | 3.7% | — | — / — |
| FY+1E | Revenue | 23,408 | 5.0% | 29 | 23,003 / 23,963 |
| FY+1E | EBITDA | 4,452 | 8.3% | 13 | 4,308 / 4,915 |
| FY+1E | EBIT | 3,805 | 7.2% | — | — / — |
| FY+1E | Net income (GAAP) | 2,875 | 11.2% | 16 | 2,829 / 2,906 |
| FY+1E | Net income (normalized) | 2,870 | 6.5% | — | — / — |
| FY+1E | EPS (GAAP) | 6.18 | 12.8% | 19 | 6.00 / 6.29 |
| FY+1E | EPS (normalized) | 6.18 | 8.5% | 29 | 5.95 / 6.30 |
| FY+1E | Free cash flow | 2,821 | 11.1% | — | — / — |
| FY+1E | Dividend per share | 1.42 | 7.4% | — | — / — |
| FY+1E | Gross margin | 33.6% | 0.8% | — | — / — |
| FY+1E | Capital expenditure | -382.7 | 5.8% | — | — / — |
| FY+1E | Net debt | -4,122 | 43.7% | — | — / — |
| FY+1E | Cash from operations | 3,209 | 10.4% | — | — / — |
| FY+1E | ROE | 17.6% | 0.5% | — | — / — |
| FY+2E | Revenue | 24,779 | 5.9% | 16 | 23,818 / 25,676 |
| FY+2E | EBITDA | 4,755 | 6.8% | 9 | 4,495 / 5,309 |
| FY+2E | EBIT | 4,088 | 7.4% | — | — / — |
| FY+2E | Net income (GAAP) | 3,107 | 8.1% | 9 | 3,058 / 3,190 |
| FY+2E | Net income (normalized) | 3,094 | 7.8% | — | — / — |
| FY+2E | EPS (GAAP) | 6.77 | 9.6% | 11 | 6.50 / 7.12 |
| FY+2E | EPS (normalized) | 6.79 | 9.8% | 14 | 6.55 / 7.12 |
| FY+2E | Free cash flow | 3,059 | 8.5% | — | — / — |
| FY+2E | Dividend per share | 1.45 | 1.9% | — | — / — |
| FY+2E | Gross margin | 33.8% | 0.6% | — | — / — |
| FY+2E | Capital expenditure | -411.9 | 7.6% | — | — / — |
| FY+2E | Net debt | -5,760 | 39.8% | — | — / — |
| FY+2E | Cash from operations | 3,451 | 7.6% | — | — / — |
| FY+2E | ROE | 16.5% | -6.7% | — | — / — |
| Q2 FY2026 | Revenue | 5,485 | 4.6% | 23 | 5,458 / 5,507 |
| Q2 FY2026 | EBITDA | 1,000 | 4.6% | 8 | 918.5 / 1,025 |
| Q2 FY2026 | EBIT | 868.5 | 7.6% | — | — / — |
| Q2 FY2026 | Net income (GAAP) | 604.9 | -6.2% | 11 | 532.0 / 657.0 |
| Q2 FY2026 | Net income (normalized) | 651.1 | 5.0% | — | — / — |
| Q2 FY2026 | EPS (GAAP) | 1.30 | -0.9% | 14 | 1.13 / 1.43 |
| Q2 FY2026 | EPS (normalized) | 1.38 | 5.1% | 24 | 1.36 / 1.43 |
| Q2 FY2026 | Free cash flow | 409.0 | 46.9% | — | — / — |
| Q2 FY2026 | Dividend per share | 0.33 | 5.5% | — | — / — |
| Q2 FY2026 | Gross margin | 33.3% | -2.6% | — | — / — |
| Q2 FY2026 | Capital expenditure | -83.22 | 4.6% | — | — / — |
| Q2 FY2026 | Net debt | -1,508 | -8.2% | — | — / — |
| Q2 FY2026 | ROE | 17.0% | -1.6% | — | — / — |
| Q2 FY2026 | Cash from operations | 377.4 | -44.5% | — | — / — |
| Q3 FY2026 | Revenue | 5,706 | 5.4% | 21 | 5,639 / 5,788 |
| Q3 FY2026 | EBITDA | 1,054 | 5.3% | 8 | 898.2 / 1,108 |
| Q3 FY2026 | EBIT | 927.4 | 12.2% | — | — / — |
| Q3 FY2026 | Net income (GAAP) | 646.5 | 135.9% | 11 | 599.1 / 710.0 |
| Q3 FY2026 | Net income (normalized) | 688.5 | 9.0% | — | — / — |
| Q3 FY2026 | EPS (GAAP) | 1.39 | 148.9% | 13 | 1.27 / 1.51 |
| Q3 FY2026 | EPS (normalized) | 1.46 | 5.3% | 23 | 1.43 / 1.51 |
| Q3 FY2026 | Free cash flow | 1,062 | 30.0% | — | — / — |
| Q3 FY2026 | Dividend per share | 0.33 | 5.5% | — | — / — |
| Q3 FY2026 | Gross margin | 33.7% | -1.3% | — | — / — |
| Q3 FY2026 | Capital expenditure | -85.29 | 22.4% | — | — / — |
| Q3 FY2026 | Net debt | -1,913 | 8.2% | — | — / — |
| Q3 FY2026 | ROE | 17.7% | 6.4% | — | — / — |
| Q3 FY2026 | Cash from operations | 1,331 | 31.9% | — | — / — |
| Q4 FY2026 | Revenue | 5,686 | 6.6% | 20 | 5,578 / 5,808 |
| Q4 FY2026 | EBITDA | 1,064 | 7.1% | 7 | 1,044 / 1,085 |
| Q4 FY2026 | EBIT | 927.9 | 10.5% | — | — / — |
| Q4 FY2026 | Net income (GAAP) | 661.7 | 2.1% | 11 | 625.0 / 688.0 |
| Q4 FY2026 | Net income (normalized) | 684.9 | 7.1% | — | — / — |
| Q4 FY2026 | EPS (GAAP) | 1.42 | 5.9% | 13 | 1.27 / 1.48 |
| Q4 FY2026 | EPS (normalized) | 1.46 | 8.4% | 22 | 1.40 / 1.51 |
| Q4 FY2026 | Free cash flow | 816.4 | 4.4% | — | — / — |
| Q4 FY2026 | Dividend per share | 0.33 | 7.7% | — | — / — |
| Q4 FY2026 | Gross margin | 33.8% | -1.7% | — | — / — |
| Q4 FY2026 | Capital expenditure | -79.86 | 20.5% | — | — / — |
| Q4 FY2026 | Net debt | -2,424 | 10.4% | — | — / — |
| Q4 FY2026 | ROE | 17.1% | -0.6% | — | — / — |
| Q4 FY2026 | Cash from operations | 917.5 | 15.2% | — | — / — |
| Q1 FY2027 | Revenue | 5,708 | 5.5% | 16 | 5,650 / 5,819 |
| Q1 FY2027 | EBITDA | 1,058 | 7.5% | 6 | 1,048 / 1,067 |
| Q1 FY2027 | EBIT | 911.8 | 7.6% | — | — / — |
| Q1 FY2027 | Net income (GAAP) | 687.0 | 3.8% | 11 | 657.0 / 718.0 |
| Q1 FY2027 | Net income (normalized) | 687.5 | 7.5% | — | — / — |
| Q1 FY2027 | EPS (GAAP) | 1.48 | 6.2% | 13 | 1.41 / 1.56 |
| Q1 FY2027 | EPS (normalized) | 1.48 | 5.4% | 19 | 1.42 / 1.56 |
| Q1 FY2027 | Free cash flow | 485.4 | -8.9% | — | — / — |
| Q1 FY2027 | Dividend per share | 0.34 | 3.6% | — | — / — |
| Q1 FY2027 | Gross margin | 33.1% | -1.5% | — | — / — |
| Q1 FY2027 | Capital expenditure | -82.35 | -1.1% | — | — / — |
| Q1 FY2027 | Net debt | -2,771 | 96.8% | — | — / — |
| Q1 FY2027 | ROE | 16.8% | -0.8% | — | — / — |
| Q1 FY2027 | Cash from operations | 471.1 | -45.7% | — | — / — |
Estimate momentum
Normalized-EPS estimates have drifted steadily higher across both forward years over the past 180 days, FY2027 from $6.13 to $6.18 and FY2028 from $6.59 to $6.79.
Currency: USD · Scale: money in millions, absolute (per share) · Point-in-time consensus; analyst count is shown where supplied.
| Period | Metric | Lookback | Then | Now | Direction / magnitude | Analysts |
|---|---|---|---|---|---|---|
| 2027 | Revenue | 30d | 23,450 | 23,408 | down 0.2% | — |
| 2027 | Revenue | 90d | 23,539 | 23,408 | down 0.6% | — |
| 2027 | Revenue | 180d | 23,379 | 23,408 | up 0.1% | — |
| 2028 | Revenue | 30d | 24,798 | 24,779 | down 0.1% | — |
| 2028 | Revenue | 90d | 24,947 | 24,779 | down 0.7% | — |
| 2028 | Revenue | 180d | 24,642 | 24,779 | up 0.6% | — |
| 2028 | EPS (normalized) | 30d | 6.74 | 6.79 | up 0.6% | — |
| 2028 | EPS (normalized) | 90d | 6.70 | 6.79 | up 1.3% | — |
| 2028 | EPS (normalized) | 180d | 6.59 | 6.79 | up 2.9% | — |
| 2027 | EPS (normalized) | 30d | 6.16 | 6.18 | up 0.3% | — |
| 2027 | EPS (normalized) | 90d | 6.13 | 6.18 | up 0.8% | — |
| 2027 | EPS (normalized) | 180d | 6.13 | 6.18 | up 0.9% | — |
Beat / miss record
Cognizant has topped consensus on both lines in each of the last eight quarters.
Current sequences by metric: Revenue: 8 consecutive beats; EPS (normalized): 8 consecutive beats.
Currency: USD · Scale: money in millions, absolute (per share) · Consensus is captured before each actual first became effective; analyst count shown per observation.
| Quarter | Metric | Consensus as of | Actual | Surprise | Outcome | Analysts |
|---|---|---|---|---|---|---|
| Q1 FY2026 | Revenue | 5,413 | 5,413 | 0.0% | Beat | — |
| Q1 FY2026 | EPS (normalized) | 1.33 | 1.40 | 5.0% | Beat | — |
| Q4 FY2025 | Revenue | 5,311 | 5,333 | 0.4% | Beat | — |
| Q4 FY2025 | EPS (normalized) | 1.32 | 1.35 | 2.0% | Beat | — |
| Q3 FY2025 | Revenue | 5,318 | 5,415 | 1.8% | Beat | — |
| Q3 FY2025 | EPS (normalized) | 1.30 | 1.39 | 6.7% | Beat | — |
| Q2 FY2025 | Revenue | 5,189 | 5,245 | 1.1% | Beat | — |
| Q2 FY2025 | EPS (normalized) | 1.26 | 1.31 | 4.0% | Beat | — |
| Q1 FY2025 | Revenue | 5,063 | 5,115 | 1.0% | Beat | — |
| Q1 FY2025 | EPS (normalized) | 1.20 | 1.23 | 2.5% | Beat | — |
| Q4 FY2024 | Revenue | 5,070 | 5,082 | 0.2% | Beat | — |
| Q4 FY2024 | EPS (normalized) | 1.13 | 1.21 | 7.5% | Beat | — |
| Q3 FY2024 | Revenue | 4,993 | 5,044 | 1.0% | Beat | — |
| Q3 FY2024 | EPS (normalized) | 1.15 | 1.25 | 9.0% | Beat | — |
| Q2 FY2024 | Revenue | 4,802 | 4,850 | 1.0% | Beat | — |
| Q2 FY2024 | EPS (normalized) | 1.12 | 1.17 | 4.6% | Beat | — |
Where the street disagrees
GAAP EPS is consistently more dispersed than normalized EPS, and FY2029 rests on a single estimate, so it carries no real signal.
Currency: USD · Scale: money in millions, absolute (per share) · Dispersion is high-low divided by absolute mean; analyst count shown per item.
| Period | Metric | Mean | Low | High | Spread / mean | Analysts |
|---|---|---|---|---|---|---|
| Q2 FY2026 | EPS (GAAP) | 1.30 | 1.13 | 1.43 | 23.1% | 14 |
| Q2 FY2026 | Net income (GAAP) | 604.9 | 532.0 | 657.0 | 20.7% | 11 |
| Q3 FY2026 | EBITDA | 1,054 | 898.2 | 1,108 | 19.9% | 8 |
| Q3 FY2026 | EPS (GAAP) | 1.39 | 1.27 | 1.51 | 17.2% | 13 |
| Q3 FY2026 | Net income (GAAP) | 646.5 | 599.1 | 710.0 | 17.2% | 11 |