Cerner's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Cerner (CERN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Cerner vs Its Competitors
- TTM: Trailing 12-month revenue of 5,807M vs 862,180M combined for tracked competitors (0.7% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-1.5% annualized vs trailing 12 months), vs decelerating (-19.5%) for its tracked peer group.
- Growth: Cerner generated 3.0% revenue growth year over year in Q1 2022, vs 11.9% for its tracked competitors combined.
- Profitability: Its 14.4% net margin compares with 4.9% for the peer group.
- Peer revenue share: Cerner accounted for 0.8% of combined revenue among its tracked peer group, down from 0.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.21M compares with $0.38M for the peer group (0.6x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CERN Sales vs. its Competitors, Q1 2022
Cerner reported revenue growth of 3.03 % year on year in Q1 2022, below its competitors' combined revenue growth of 11.88 %.
With a net margin of 14.42 %, Cerner achieved higher profitability than its competitors (4.89 %).
Cerner generated 0.82 % of the combined sales of its peer group, down from 0.89 % a year earlier.
Cerner vs. its Competitors, Q1 2022
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Cerner and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Cerner Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (8) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Cerner's competitor groups requires a Commercial License.
For context: the Cloud Computing & Data Analytics industry grew revenue 8.1% year over year, combined, vs 3.0% for Cerner. Cerner's share of combined industry revenue moved from 1.07% to 1.02%, a loss of 0.05 percentage points.
Cerner's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Cerner Corporation | Yes | Yes | Yes | Yes |
| Competitors combined (39) | ||||
| High-Confidence Competitors (7) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 25.00 % (2 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
CERN Stock Performance relative to its Competitors
CERN Stock Performance relative to High-Confidence Competitors
CERN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Onemednet Corporation | 282.9% | Outperformed |
| 2 | Dell Technologies Inc | 282.9% | Outperformed |
| 3 | Premier Inc | 282.9% | Outperformed |
| 4 | Nrc Health | 282.9% | Outperformed |
| 5 | Aspen Technology inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Cerner's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Cerner's Comment on Competition and Industry Peers
Other competitors focus on only a portion of the market that we address. For example, competitors, without limitation, such as Accenture plc, Clinovations, Inc., Dell, Inc. (Dell), Deloitte Consulting LLP (Deloitte), Encore Health Resources, LLC, IBM Corporation, Leidos Holding, Inc. and Xerox Corporation Ltd. offer HCIT services that compete directly with some of our service offerings. Allscripts, AmazingCharts.com, Inc., Athenahealth, Inc., eClinicalWorks LLC, e-MDs, Inc., MED3000, Inc., Practice Fusion, Inc., Quality Systems, Inc., SRSsoft and Vitera Healthcare Solutions offer solutions to the physician practice market but do not currently have a significant presence in the health systems and independent hospital market.
Cerner partners with third parties as a reseller of devices and markets its
own competing proprietary health care devices. We view our principal competitors
in the health care device market to include, without limitation: API Healthcare,
CapsuleTech, Inc., CareFusion Corporation, GE, iSirona, LLC, McKesson and Omnicell,
Inc. We view our principal competitors in the health care revenue cycle transactions
market to include, without limitation: Accretive Health, Inc., Allscripts, Confier
Health Solutions, Dell, Deloitte, Emdeon Corporation, Epic, GE, McKesson, MedAssets,
Inc., Meditech, Optum, Inc., Quadramed, Siemens, SSI Group, Inc. and 3M Company
with almost all of these competitors being substantially larger or having more
experience and market share than us in their respective markets.
In addition, we expect that major software information systems companies, large
information technology consulting service providers and system integrators,
start-up companies, managed care companies and others specializing in the health
care industry may offer competitive software solutions, devices or services.
The pace of change in the HCIT market is rapid and there are frequent new software
solutions, devices or services introductions, enhancements and evolving industry
standards and requirements. We believe that the principal competitive factors
in this market include the breadth and quality of solution and service offerings,
the stability of the solution provider, the features and capabilities of the
information systems and devices, the ongoing support for the systems and devices
and the potential for enhancements and future compatible software solutions
and devices.
Publicly Traded Peers of Cerner Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Cerner Corporation | 28,128.21 | 5,806.85 |
| Dell Technologies Inc | 359,506.28 | 151,197.00 |
| International Business Machines Corporation | 210,957.22 | 69,096.00 |
| Accenture Plc | 111,231.57 | 73,100.60 |
| Mckesson Corporation | 101,981.56 | 410,983.00 |
| Infosys Limited | 43,776.15 | 20,158.00 |
| SUBTOTAL | 982,918.57 | 867,987.13 |
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Sources: Cerner Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Cerner Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Cerner's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Health Catalyst, Inc. | Named by the company | 85% |
| Healthlynked Corp | Named by the company | 85% |
| Epic Systems Corporation | Named by the company | 85% |
| Optum, Inc. | Named by the company | 85% |
| Uphealth Inc | Named by the company | 85% |
| Computer Programs and Systems, Inc. | Named by the company | 85% |
| InterSystems Corporation | Named by the company | 85% |
| Iqvia Holdings Inc | Named by the company | 85% |
| athenahealth, Inc. | Named by the company | 85% |
| Careview Communications Inc | Named by the company | 85% |
| Allscripts Healthcare Solutions, Inc. | Named by the company | 85% |
| eClinicalWorks, LLC | Named by the company | 85% |
| Medical Information Technology, Inc. (MEDITECH) | Named by the company | 85% |
| Capsule Technologies, Inc. | Named by the company | 85% |
| Innovaccer, Inc. | Named by the company | 85% |
| Arcadia Solutions, LLC | Named by the company | 85% |
| Veradigm Inc | Named by the company | 85% |
| Trubridge Inc | Named by the company | 85% |
| Phreesia Inc | Named by the company | 85% |
| Augmedix Inc | Named by the company | 85% |
| International Business Machines Corporation | Named by the company | 85% |
| Evolent Health Inc | Named by the company | 85% |
| Spok Holdings Inc | Named by the company | 85% |
| Carecloud Inc | Named by the company | 85% |
| Premier Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Cerner's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Cerner's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Cerner Corporation | Domestic 88.02 % |
| Dell Technologies Inc | Infrastructure Solutions Group 53.57 % |
| International Business Machines Corporation | Software 45.22 % |
| Accenture Plc | Americas 49.30 % |
| Mckesson Corporation | North American Pharmaceutical 83.45 % |
| Hp inc | Commercial PS 53.74 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Cerner's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Cerner Corporation | 28,128 | 211,929 | 21,514 |
| Dell Technologies Inc | 359,506 | 1,558,732 | 117,299 |
| International Business Machines Corporation | 210,957 | 226,322 | 35,129 |
| Accenture Plc | 111,232 | 93,839 | 10,006 |
| Mckesson Corporation | 101,982 | 8,058,490 | 103,922 |
| Infosys Limited | 43,776 | 77,645 | 12,773 |
| PEERS TOTAL | 954,790 | 382,423 | 19,608 |
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Cerner's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Cerner Corporation | Domestic 88.02 % |
| Dell Technologies Inc | United States 55.61 % |
| International Business Machines Corporation | Americas 49.04 % |
| Hp inc | Americas 40.65 % |
| Cognizant Technology Solutions Corporation | North America 74.59 % |
| Aspen Technology inc | Americas 55.75 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Cerner's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Cloud Computing & Data Analytics industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (202 companies). See the full Cloud Computing & Data Analytics industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 82.53 % | 51.77 % (avg) | +30.8 pp |
| Operating Margin | 12.78 % | industry median | +40.7 pp |
| EBITDA Margin | 24.99 % | 2.99 % (avg) | +22.0 pp |
| Capital Intensity (Capex / Revenue) | 9.70 % | 5.27 % (avg) | +4.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Cerner's Valuation vs Competitive Position
Valuation multiples vs the Cloud Computing & Data Analytics industry average (202 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Cloud Computing & Data Analytics industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 47.0x | 27.7x | +19.3x |
| EV / EBITDA | 19.8x | 16.4x | +3.3x |
| P/B | 7.1x | 4.0x | +3.1x |
| Return on Equity | 15.26 % | industry aggregate | 4.26 % |
| Return on Invested Capital | 7.53 % | 1.95 % (avg) | 5.58 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Cerner's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2015 | 2016 | 2017 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| Revenue Growth | 30.05 % | 8.39 % | 7.21 % | 7.12 % | -3.28 % | 4.70 % |
| Operating Margin | 17.65 % | 18.99 % | 18.68 % | 10.55 % | 16.61 % | 12.29 % |
| Return on Invested Capital | 9.65 % | 10.16 % | 9.82 % | 5.63 % | 8.93 % | 7.03 % |
| P/E | 38.2x | 27.1x | 26.7x | 43.3x | 30.2x | 45.0x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Cerner's Strategic Group Map
Every company in Cerner's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Cerner is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Cerner's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 9.70 % vs industry average 5.27 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Cerner's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Cerner's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Cerner's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Cerner falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Cerner's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 40.7 points above the industry median.
Weaknesses
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (30.80 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-19.5% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Cerner's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Cerner Corporation | 0.21 | 1.62 | 0.46 |
| Dell Technologies Inc | 0.16 | 0.93 | - |
| International Business Machines Corporation | 0.29 | 0.87 | 3.47 |
| Accenture Plc | 0.51 | 1.38 | 0.16 |
| Mckesson Corporation | 0.07 | 0.88 | - |
| Infosys Limited | 0.42 | 1.98 | 0.03 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Cerner's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Cerner Corporation | Q1 2022 | +3.0 % | +19.7 % |
| Dell Technologies Inc | Q2 2026 | +57.7 % | +255.1 % |
| International Business Machines Corporation | Q2 2026 | +1.1 % | -1.3 % |
| Accenture Plc | Q2 2026 | +5.6 % | +6.3 % |
| Mckesson Corporation | Q2 2026 | +7.7 % | +24.2 % |
| Infosys Limited | Q1 2026 | +4.6 % | +4.9 % |
| PEERS TOTAL | +13.6 % | +25.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Cerner's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Cerner Corporation | Q1 2022 | +5.7 % | -38.3 % |
| Dell Technologies Inc | Q2 2026 | +52.7 % | +83.6 % |
| International Business Machines Corporation | Q2 2026 | +3.6 % | +9.0 % |
| Accenture Plc | Q2 2026 | +5.7 % | +10.1 % |
| Mckesson Corporation | Q2 2026 | +7.6 % | -19.6 % |
| Infosys Limited | Q1 2026 | +4.4 % | - |
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Cerner's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Cerner Corporation | 7.84% | 9.84% | 15.26% |
| Dell Technologies Inc | 10.56% | 18.14% | - |
| International Business Machines Corporation | 7.07% | 7.03% | 33.43% |
| Accenture Plc | 11.69% | 18.04% | 24.02% |
| Mckesson Corporation | 6.43% | 35.05% | - |
| Infosys Limited | 20.16% | 30.31% | 33.70% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Cerner's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Cerner Corporation | 47.94 | 4.84 |
| Dell Technologies Inc | 32.13 | 2.38 |
| International Business Machines Corporation | 19.60 | 3.05 |
| Accenture Plc | 14.44 | 1.52 |
| Mckesson Corporation | 22.99 | 0.25 |
| Infosys Limited | 13.98 | 2.17 |
| PEERS AVERAGE | 21.94 | 1.13 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.