What is Cognizant Technology Solutions Corp worth?
With the base-case assumptions below, a discounted cash flow model on Cognizant Technology Solutions Corp's reported free cash flow gives $97.72 per share. The share price was $65.00 on November 10, 2026, 33% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.0% | 10.0% | $60.30 | -7% |
| Base | 5.0% | 9.0% | $97.72 | +50% |
| Bull | 10.0% | 8.0% | $167.59 | +158% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $124.50 | $132.65 | $142.61 | $155.06 | $171.07 |
| 8.0% | $104.54 | $109.82 | $116.07 | $123.56 | $132.72 |
| 9.0% | $89.94 | $93.56 | $97.72 | $102.59 | $108.34 |
| 10.0% | $78.82 | $81.38 | $84.30 | $87.63 | $91.47 |
| 11.0% | $70.06 | $71.94 | $74.05 | $76.42 | $79.10 |
Where the presets come from
Base: years 1 to 5 grow at Cognizant Technology Solutions Corp's revenue growth rate over the last 5 fiscal years (4.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions