Cognizant Technology Solutions's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Cognizant Technology Solutions (CTSH) 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: Cognizant Technology Solutions vs Its Competitors
- TTM: Trailing 12-month revenue of 21,891M vs 193,715M combined for its competitors (10.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+3.5% annualized vs trailing 12 months), vs holding steady (+0.9%) for its tracked peer group.
- Growth: Cognizant Technology Solutions generated 4.6% revenue growth year over year in Q3 2026, vs 6.8% for its competitors combined.
- Profitability: Its 11.1% net margin compares with 9.9% for the peer group.
- Scale: Cognizant Technology Solutions ranks #5 of 164 companies by market capitalization in the Cloud Computing & Data Analytics industry, holding 4.5% of industry market cap.
- Peer revenue share: Cognizant Technology Solutions accounted for 10.4% of combined revenue among its tracked peer group, down from 10.6% a year earlier.
- Peer differentiation: Revenue per employee of $0.06M compares with $0.28M for the peer group (0.2x).
- Structure: Cognizant Technology Solutions operates in the following segments: Financial services, Health Sciences, Products and Resources, Communications, Media and Technology.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CTSH Sales vs. its Competitors, Q3 2026
Cognizant Technology Solutions reported revenue growth of 4.60 % year on year in Q3 2026, below its competitors' combined revenue growth of 6.77 %.
With a net margin of 11.07 %, Cognizant Technology Solutions achieved higher profitability than its competitors (9.88 %).
Cognizant Technology Solutions generated 10.39 % of the combined sales of its peer group, down from 10.58 % a year earlier.
API endpoints for this dataset
Cognizant Technology Solutions vs. its Competitors, Q3 2026
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 Cognizant Technology Solutions reports; 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 Cognizant Technology Solutions and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Cognizant Technology Solutions Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Cognizant Technology Solutions's competitor groups requires a Commercial License.
For context: the Cloud Computing & Data Analytics industry grew revenue 8.1% year over year, combined, vs 4.6% for Cognizant Technology Solutions. Cognizant Technology Solutions's share of combined industry revenue moved from 4.16% to 4.03%, a loss of 0.13 percentage points.
Cognizant Technology Solutions's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Cognizant Technology Solutions Corporation | Yes | Yes | Yes | No |
| Competitors combined (22) | ||||
| High-Confidence Competitors (28) | ||||
| Similar-Size Competitors (9) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 50.00 % (4 of 8) | 0.00 % (0 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.
CTSH Stock Performance relative to its Competitors
CTSH Stock Performance relative to High-Confidence Competitors
CTSH Stock Performance relative to Similar-Size Competitors
CTSH 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 | Wns holdings Limited | 282.9% | Outperformed |
| 2 | Mckesson Corporation | 282.9% | Outperformed |
| 3 | Icf International Inc | 282.9% | Outperformed |
| 4 | Hp inc | 282.9% | Outperformed |
| 5 | Dxc Technology Co | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Cognizant Technology Solutions's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Cognizant Technology Solutions's Comment on Competition and Industry Peers
Publicly Traded Peers of Cognizant Technology Solutions Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Cognizant Technology Solutions Corporation |
29,943.00 | 21,891.00 |
 Palantir Technologies Inc |
398,932.79 | 7,289.50 |
 International Business Machines Corporation |
235,625.19 | 69,868.00 |
 Accenture Plc |
160,497.04 | 74,183.45 |
 Mckesson Corporation |
127,782.40 | 410,983.00 |
 Infosys Limited |
52,737.38 | 20,158.00 |
| SUBTOTAL | 1,112,465.42 | 738,554.87 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Cognizant Technology Solutions Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Cognizant Technology Solutions's Competitors Named by the Company
Competitive relationships identified from Cognizant Technology Solutions reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| DXC Technology | Company report | 85% |
| Infosys Technologies | Company report | 85% |
| EPAM Systems | Company report | 85% |
| Innodata inc | Company report | 85% |
| Genpact | Company report | 85% |
| Wipro | Company report | 85% |
| Accenture | Company report | 85% |
| Concentrix Corporation | Company report | 85% |
| Endava Plc | Company report | 85% |
| Aeries Technology Inc | Company report | 85% |
| Amdocs Limited | Company report | 85% |
| Micromet, Inc. | Company report | 85% |
| Stagwell Inc | Company report | 85% |
| CGI | Company report | 85% |
| HCL Technologies | Company report | 85% |
| Paltalk Inc | Company report | 85% |
| Atos | Company report | 85% |
| Tata Consultancy Services | Company report | 85% |
| Deloitte Digital | Company report | 85% |
| IBM Consulting | Company report | 85% |
| Mastech Digital Inc | Company report | 85% |
| Ci and t Inc | Company report | 85% |
| Capgemini | Company report | 85% |
| Iqvia Holdings Inc | Company report | 85% |
| Nexscient Inc | Company report | 85% |
| Wns holdings Limited | Company report | 85% |
| Insight Enterprises Inc | Company report | 85% |
| Conduent Inc | Company report | 85% |
| Perficient Inc | Company report | 85% |
| Telus International cda Inc | Company report | 85% |
| Alight Inc | Company report | 85% |
| Duck Creek Technologies Inc | Company report | 85% |
| Veradigm Inc | Company report | 85% |
| Quantum Computing Inc | Company report | 85% |
| Exlservice Holdings Inc | Company report | 85% |
| Leidos Holdings Inc | Company report | 85% |
| Palantir Technologies Inc | Company report | 85% |
| Icf International Inc | Company report | 85% |
| Hackett Group Inc | Company report | 85% |
| Sapiens International Corp N V | Company report | 85% |
| Maximus Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Cognizant Technology Solutions's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Cognizant Technology Solutions'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 |
|---|---|
| Cognizant Technology Solutions Corporation | Financial services 31.20 % |
| Palantir Technologies Inc | Commercial 50.48 % |
| International Business Machines Corporation | Software 45.63 % |
| Accenture Plc | Americas 49.30 % |
| Mckesson Corporation | North American Pharmaceutical 82.34 % |
| Hp inc | Commercial PS 53.74 % |
Source: operating segment revenue as reported in each company's reports (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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Cognizant Technology Solutions'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 |
|---|---|---|---|
| Cognizant Technology Solutions Corporation | 29,943 | 62,261 | 7,318 |
| Palantir Technologies Inc | 398,933 | 1,645,856 | 831,335 |
| International Business Machines Corporation | 235,625 | 228,850 | 36,590 |
| Accenture Plc | 160,497 | 91,134 | 10,284 |
| Mckesson Corporation | 127,782 | 8,058,490 | 103,922 |
| Infosys Limited | 52,737 | 77,645 | 12,773 |
| PEERS TOTAL | 1,082,522 | 283,695 | 14,597 |
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Cognizant Technology Solutions's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Cognizant Technology Solutions Corporation | North America 75.18 % |
| International Business Machines Corporation | Americas 50.14 % |
| Hp inc | Americas 40.65 % |
| Leidos Holdings Inc | United States 91.34 % |
| Epam Systems Inc | United States 50.08 % |
| Exlservice Holdings Inc | North America 82.23 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Cognizant Technology Solutions's Position in Industry Market Structure
Market-capitalization share and concentration across all 145 companies in Cognizant Technology Solutions's industry classification, broader than the peer set above. Market cap in millions of $.Cognizant Technology Solutions ranks #5 of 145 companies by market capitalization in its industry, holding 4.49 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 588, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Automatic Data Processing Inc | 123,870 | 17.95 % |
| 2 | Infosys Limited | 52,737 | 7.64 % |
| 3 | Workday Inc | 49,303 | 7.14 % |
| 4 | Zscaler Inc | 32,665 | 4.73 % |
| 5 | Cognizant Technology Solutions Corporation | 31,008 | 4.49 % |
| 6 | Verisign Inc | 1,234 | 5.2% |
| 7 | Verisk Analytics Inc | 1,234 | 5.2% |
| 8 | Samsara Inc | 1,234 | 5.2% |
| 9 | Wipro Limited | 1,234 | 5.2% |
| 10 | Toast Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Cognizant Technology Solutions's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-05.
Cognizant Technology Solutions's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Automatic Data Processing Inc | 123,870 | 18.20 % |
| 2 | Infosys Limited | 52,737 | -24.02 % |
| 3 | Workday Inc | 49,303 | -14.09 % |
| 4 | Zscaler Inc | 32,665 | -37.10 % |
| 5 | Cognizant Technology Solutions Corporation | 31,008 | -8.28 % |
| 6 | Verisign Inc | 1,234 | 12.3% |
| 7 | Verisk Analytics Inc | 1,234 | 12.3% |
| 8 | Samsara Inc | 1,234 | 12.3% |
| 9 | Wipro Limited | 1,234 | 12.3% |
| 10 | Toast Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Cognizant Technology Solutions's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-05. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Cognizant Technology Solutions'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 (257 companies). See the full Cloud Computing & Data Analytics industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 25.07 % | 38.75 % (avg) | -13.7 pp |
| Operating Margin | 15.72 % | industry median | +10.9 pp |
| EBITDA Margin | 19.57 % | 1.63 % (avg) | +17.9 pp |
| Capital Intensity (Capex / Revenue) | 1.51 % | 5.89 % (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.
Cognizant Technology Solutions's Valuation vs Competitive Position
Valuation multiples vs the Cloud Computing & Data Analytics industry average (257 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 | 10.0x | 27.8x | -17.8x |
| EV / EBITDA | 5.7x | 14.0x | -8.4x |
| P/B | 1.7x | 3.9x | -2.2x |
| Return on Equity | 17.36 % | industry aggregate | -10.05 % |
| Return on Invested Capital | 10.59 % | -0.37 % (avg) | 10.96 % |
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.
Cognizant Technology Solutions's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.88 % | 4.08 % | -0.78 % | 10.12 % | 5.31 % | -0.39 % | 1.98 % | 6.95 % |
| Operating Margin | 17.37 % | 14.62 % | 12.70 % | 14.57 % | 15.28 % | 13.89 % | 14.65 % | 16.06 % |
| Return on Invested Capital | 11.84 % | 10.26 % | 8.09 % | 10.33 % | 10.98 % | 9.44 % | 9.46 % | 10.47 % |
| P/E | 18.7x | 18.9x | 30.6x | 20.8x | 13.5x | 16.5x | 17.4x | 16.5x |
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.
Cognizant Technology Solutions's Strategic Group Map
Cognizant Technology Solutions is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Cognizant Technology Solutions's trailing-12-month revenue growth of 5.0% and operating margin of 15.7% compares with an average of 4.6% growth and 14.6% margin across its 8 closest peers by combined growth, margin and ROIC -- Cognizant Technology Solutions sits above that peer average on growth and above it on margin.
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.
Cognizant Technology Solutions's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Cognizant Technology Solutions falls in the Dog quadrant: relative market share of 0.25x vs its largest competitor, in an industry growing revenue 4.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Cognizant Technology Solutions'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 |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 588 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.51 % vs industry average 5.89 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Cognizant Technology Solutions's dedicated Suppliers and Customers pages, not here.
Cognizant Technology Solutions's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Cognizant Technology Solutions falls in the Low attractiveness / Medium strength cell: Harvest.
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.
Cognizant Technology Solutions'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 10.9 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+3.5% annualized vs trailing 12 months).
Weaknesses
- Return on equity 10.1 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.25x).
Opportunities
- Trades at a lower P/E than the industry average (10.0x vs 27.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Cognizant Technology Solutions'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 |
|---|---|---|---|
| Cognizant Technology Solutions Corporation | 0.42 | 2.19 | 0.07 |
| Palantir Technologies Inc | 1.59 | 7.09 | - |
| International Business Machines Corporation | 0.27 | 0.85 | 3.27 |
| Accenture Plc | 0.51 | 1.38 | 0.20 |
| 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.
Cognizant Technology Solutions'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 |
|---|---|---|---|
| Cognizant Technology Solutions Corporation | Q3 2026 | +4.6 % | +128.8 % |
| Palantir Technologies Inc | Q3 2026 | +95.9 % | +136.6 % |
| International Business Machines Corporation | Q3 2026 | +4.7 % | +25.6 % |
| Accenture Plc | Q3 2026 | +6.2 % | +40.7 % |
| Mckesson Corporation | Q2 2026 | +7.7 % | +24.2 % |
| Infosys Limited | Q1 2026 | +4.6 % | +4.9 % |
| PEERS TOTAL | +6.8 % | +10.4 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Cognizant Technology Solutions'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 |
|---|---|---|---|
| Cognizant Technology Solutions Corporation | Q3 2026 | +4.7 % | +17.9 % |
| Palantir Technologies Inc | Q3 2026 | +85.2 % | +18.0 % |
| International Business Machines Corporation | Q3 2026 | +6.0 % | +30.2 % |
| Accenture Plc | Q3 2026 | +5.9 % | +131.9 % |
| Mckesson Corporation | Q2 2026 | +7.6 % | -19.6 % |
| Infosys Limited | Q1 2026 | +4.4 % | - |
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Cognizant Technology Solutions's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Cognizant Technology Solutions Corporation | 12.35% | 14.55% | 17.36% |
| Palantir Technologies Inc | 33.33% | 37.35% | 39.51% |
| International Business Machines Corporation | 7.26% | 7.21% | 32.73% |
| Accenture Plc | 12.18% | 18.35% | 25.70% |
| 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).
Cognizant Technology Solutions's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Cognizant Technology Solutions Corporation | 12.16 | 1.37 |
| Palantir Technologies Inc | 108.38 | 54.73 |
| International Business Machines Corporation | 21.03 | 3.37 |
| Accenture Plc | 19.55 | 2.16 |
| Mckesson Corporation | 28.81 | 0.31 |
| Infosys Limited | 16.84 | 2.62 |
| PEERS AVERAGE | 28.20 | 1.51 |
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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.