NASDAQ : CNDT
Conduent Incorporated — Financial statements
Technology · Information Technology Services · United States
Last price 1.54 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 239.50M
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Financial statements
Conduent Incorporated (CNDT) reported revenue of 2.94B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.94B | 3.04B | 3.36B | 3.72B | 3.86B | 4.14B |
| Cost of Revenue | 2.39B | 2.49B | 2.73B | 2.89B | 3.02B | 3.14B |
| Gross Profit | 547.00M | 552.00M | 626.00M | 834.00M | 840.00M | 1.00B |
| Selling, General & Admin | 385.00M | 412.00M | 455.00M | 458.00M | 454.00M | 544.00M |
| Research & Development | 3.00M | 4.00M | 6.00M | 7.00M | 7.00M | 4.00M |
| Other Operating Expenses | 16.00M | 15.00M | 10.00M | 15.00M | 6.00M | 7.00M |
| Operating Expenses | 594.00M | 625.00M | 675.00M | 744.00M | 697.00M | 907.00M |
| Operating Income | -47.00M | -73.00M | -49.00M | 90.00M | 143.00M | 95.00M |
| Interest Expense | -49.00M | -48.00M | -75.00M | -111.00M | -84.00M | -55.00M |
| Interest & Investment Income | 7.00M | 7.00M | 23.00M | 18.00M | 7.00M | 1.00M |
| EBT Excluding Unusual Items | -89.00M | -114.00M | -101.00M | -3.00M | 66.00M | 41.00M |
| Merger & Restructuring Charges | -51.00M | -35.00M | -46.00M | -62.00M | -39.00M | -45.00M |
| Impairment of Goodwill | -28.00M | -287.00M | -358.00M | |||
| Gain (Loss) on Sale of Assets | -8.00M | -11.00M | 696.00M | -10.00M | 158.00M | -3.00M |
| Legal Settlements | 2.00M | 1.00M | -9.00M | 30.00M | 32.00M | -3.00M |
| Other Unusual Items | 24.00M | -1.00M | -8.00M | -15.00M | ||
| Pretax Income | -131.00M | -160.00M | 504.00M | -332.00M | -127.00M | -25.00M |
| Income Tax Expense | 32.00M | 10.00M | 78.00M | -36.00M | 55.00M | 3.00M |
| Earnings From Continuing Operations | -163.00M | -170.00M | 426.00M | -296.00M | -182.00M | -28.00M |
| Earnings From Discontinued Operations | -65.00M | |||||
| Net Income | -228.00M | -170.00M | 426.00M | -296.00M | -182.00M | -28.00M |
| Preferred Dividends & Other Adjustments | 10.00M | 10.00M | 10.00M | 10.00M | 10.00M | 10.00M |
| Net Income to Common | -238.00M | -180.00M | 416.00M | -306.00M | -192.00M | -38.00M |
| Shares Outstanding (Basic) | 155.25M | 158.42M | 182.51M | 216.78M | 215.89M | 212.72M |
| Shares Outstanding (Diluted) | 155.25M | 158.42M | 191.13M | 216.78M | 215.89M | 212.72M |
| EPS (Basic) | -1.53 | -1.14 | 2.28 | -1.41 | -0.89 | -0.18 |
| EPS (Diluted) | -1.55 | -1.14 | 2.23 | -1.41 | -0.89 | -0.18 |
| Free Cash Flow | -49.00M | -132.00M | -78.00M | 38.00M | 52.00M | 163.00M |
| Free Cash Flow Per Share | -0.32 | -0.83 | -0.41 | 0.17 | 0.24 | 0.77 |
| Gross Margin | 18.61% | 18.15% | 18.65% | 22.41% | 21.77% | 24.20% |
| Operating Margin | -1.60% | -2.40% | -1.46% | 2.42% | 3.71% | 2.30% |
| Profit Margin | -8.10% | -5.92% | 12.40% | -8.22% | -4.98% | -0.92% |
| Free Cash Flow Margin | -1.67% | -4.34% | -2.32% | 1.02% | 1.35% | 3.94% |
| EBITDA | 76.00M | 54.00M | 76.00M | 240.00M | 302.00M | 383.00M |
| EBITDA Margin | 2.59% | 1.77% | 2.27% | 6.45% | 7.83% | 9.25% |
| D&A For EBITDA | 123.00M | 127.00M | 125.00M | 150.00M | 159.00M | 288.00M |
| EBIT | -47.00M | -73.00M | -49.00M | 90.00M | 143.00M | 95.00M |
| EBIT Margin | -1.60% | -2.40% | -1.46% | 2.42% | 3.71% | 2.30% |
| Effective Tax Rate | 15.48% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 228.00M | 233.00M | 366.00M | 498.00M | 582.00M | 415.00M |
| Cash & Short-Term Investments | 228.00M | 233.00M | 366.00M | 498.00M | 582.00M | 415.00M |
| Accounts Receivable | 347.00M | 623.00M | 625.00M | 737.00M | 801.00M | 853.00M |
| Other Receivables | 19.00M | 21.00M | 70.00M | 46.00M | 51.00M | 58.00M |
| Receivables | 366.00M | 644.00M | 695.00M | 783.00M | 852.00M | 911.00M |
| Prepaid Expenses | 82.00M | 87.00M | 77.00M | 70.00M | 88.00M | 84.00M |
| Restricted Cash | 12.00M | 10.00M | 11.00M | 21.00M | 16.00M | 5.00M |
| Other Current Assets | 409.00M | 95.00M | 103.00M | 283.00M | 87.00M | 265.00M |
| Total Current Assets | 1.10B | 1.07B | 1.25B | 1.66B | 1.62B | 1.68B |
| Property, Plant & Equipment | 262.00M | 317.00M | 336.00M | 388.00M | 463.00M | 512.00M |
| Goodwill | 614.00M | 617.00M | 609.00M | 651.00M | 955.00M | 1.34B |
| Other Intangible Assets | 124.00M | 169.00M | 193.00M | 267.00M | 338.00M | 326.00M |
| Long-Term Deferred Tax Assets | 13.00M | 24.00M | 23.00M | 21.00M | 20.00M | |
| Long-Term Deferred Charges | 72.00M | 128.00M | 126.00M | 91.00M | 82.00M | 81.00M |
| Other Long-Term Assets | 63.00M | 73.00M | 60.00M | 89.00M | 88.00M | 98.00M |
| Total Assets | 2.25B | 2.40B | 2.60B | 3.16B | 3.57B | 4.04B |
| Accounts Payable | 95.00M | 142.00M | 157.00M | 174.00M | 228.00M | 198.00M |
| Accrued Expenses | 236.00M | 342.00M | 347.00M | 396.00M | 430.00M | 513.00M |
| Short-Term Debt | 11.00M | |||||
| Current Portion of Long-Term Debt | 21.00M | 9.00M | 16.00M | 22.00M | 25.00M | 22.00M |
| Current Portion of Leases | 39.00M | 65.00M | 60.00M | 66.00M | 67.00M | 79.00M |
| Current Income Taxes Payable | 9.00M | 5.00M | 3.00M | 1.00M | 2.00M | 10.00M |
| Current Unearned Revenue | 46.00M | 74.00M | 103.00M | 91.00M | 81.00M | 82.00M |
| Other Current Liabilities | 250.00M | 44.00M | 58.00M | 118.00M | 90.00M | 121.00M |
| Total Current Liabilities | 707.00M | 681.00M | 744.00M | 868.00M | 923.00M | 1.02B |
| Long-Term Debt | 651.00M | 629.00M | 597.00M | 1.24B | 1.27B | 1.38B |
| Long-Term Leases | 129.00M | 138.00M | 156.00M | 167.00M | 170.00M | 192.00M |
| Long-Term Unearned Revenue | 43.00M | 69.00M | 52.00M | 55.00M | 42.00M | 48.00M |
| Long-Term Deferred Tax Liabilities | 16.00M | 19.00M | 24.00M | 30.00M | 83.00M | 75.00M |
| Other Long-Term Liabilities | 31.00M | 34.00M | 41.00M | 29.00M | 27.00M | 47.00M |
| Total Liabilities | 1.58B | 1.57B | 1.61B | 2.39B | 2.51B | 2.76B |
| Common Stock | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M |
| Additional Paid-In Capital | 3.97B | 3.97B | 3.95B | 3.94B | 3.92B | 3.91B |
| Retained Earnings | -2.77B | -2.61B | -2.43B | -2.85B | -2.54B | -2.35B |
| Treasury Stock | -235.00M | -235.00M | -210.00M | -27.00M | ||
| Comprehensive Income & Other | -443.00M | -437.00M | -472.00M | -435.00M | -466.00M | -429.00M |
| Total Common Equity | 526.00M | 685.00M | 839.00M | 629.00M | 917.00M | 1.13B |
| Minority Interest | 4.00M | 4.00M | ||||
| Shareholders' Equity | 668.00M | 827.00M | 985.00M | 775.00M | 1.06B | 1.27B |
| Total Liabilities & Equity | 2.25B | 2.40B | 2.60B | 3.16B | 3.57B | 4.04B |
| Total Debt | 851.00M | 841.00M | 829.00M | 1.49B | 1.53B | 1.67B |
| Net Cash (Debt) | -623.00M | -608.00M | -463.00M | -995.00M | -947.00M | -1.25B |
| Net Cash Per Share | -4.01 | -3.84 | -2.42 | -4.59 | -4.39 | -5.89 |
| Filing Date Shares Outstanding | 155.52M | 154.71M | 161.83M | 209.97M | 218.40M | 215.42M |
| Total Common Shares Outstanding | 155.52M | 154.71M | 161.83M | 211.51M | 218.35M | 215.38M |
| Working Capital | 390.00M | 388.00M | 508.00M | 787.00M | 702.00M | 655.00M |
| Book Value Per Share | 3.38 | 4.43 | 5.18 | 2.97 | 4.20 | 5.26 |
| Tangible Book Value | -212.00M | -101.00M | 37.00M | -289.00M | -376.00M | -533.00M |
| Tangible Book Value Per Share | -1.36 | -0.65 | 0.23 | -1.37 | -1.72 | -2.47 |
| Land | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | |
| Buildings | 5.00M | 6.00M | 6.00M | 7.00M | 7.00M | |
| Machinery | 907.00M | 831.00M | 844.00M | 896.00M | 883.00M | |
| Construction In Progress | 13.00M | 12.00M | 27.00M | 39.00M | 49.00M | |
| Leasehold Improvements | 223.00M | 214.00M | 221.00M | 236.00M | 250.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -228.00M | -170.00M | 426.00M | -296.00M | -182.00M | -28.00M |
| Depreciation & Amortization | 123.00M | 127.00M | 125.00M | 150.00M | 159.00M | 288.00M |
| Other Amortization | 71.00M | 71.00M | 85.00M | 121.00M | 78.00M | 99.00M |
| Loss (Gain) From Sale of Assets | 30.00M | 2.00M | -724.00M | -165.00M | 1.00M | |
| Asset Writedown & Restructuring Costs | 28.00M | 287.00M | 358.00M | |||
| Loss (Gain) From Sale of Investments | 5.00M | |||||
| Stock-Based Compensation | 13.00M | 19.00M | 19.00M | 19.00M | 21.00M | 21.00M |
| Provision & Write-off of Bad Debts | 1.00M | |||||
| Other Operating Activities | -14.00M | -21.00M | 3.00M | -54.00M | 9.00M | -6.00M |
| Change in Accounts Receivable | -16.00M | 2.00M | 34.00M | 26.00M | 54.00M | -45.00M |
| Change in Accounts Payable | 1.00M | -12.00M | -14.00M | -52.00M | -10.00M | 23.00M |
| Change in Other Net Operating Assets | 5.00M | -93.00M | -71.00M | -113.00M | -167.00M | -112.00M |
| Operating Cash Flow | -1.00M | -73.00M | -50.00M | 89.00M | 144.00M | 243.00M |
| Capital Expenditures | -48.00M | -59.00M | -28.00M | -51.00M | -92.00M | -80.00M |
| Divestitures | 3.00M | 53.00M | 851.00M | 326.00M | 5.00M | |
| Sale (Purchase) of Intangibles | -24.00M | -22.00M | -28.00M | -42.00M | -61.00M | -67.00M |
| Investing Cash Flow | -69.00M | -28.00M | 795.00M | -93.00M | 173.00M | -142.00M |
| Long-Term Debt Issued | 264.00M | 80.00M | 13.00M | 1.40B | ||
| Long-Term Debt Repaid | -255.00M | -756.00M | -41.00M | -133.00M | -1.50B | |
| Total Debt Repaid | -150.00M | -255.00M | -756.00M | -41.00M | -133.00M | -1.50B |
| Net Debt Issued (Repaid) | 45.00M | 9.00M | -676.00M | -41.00M | -120.00M | -101.00M |
| Repurchase of Common Stock | -20.00M | -29.00M | -191.00M | -34.00M | -1.00M | -10.00M |
| Preferred Dividends Paid | -7.00M | -10.00M | -10.00M | -10.00M | -10.00M | -10.00M |
| Dividends Paid | -7.00M | -10.00M | -10.00M | -10.00M | -10.00M | -10.00M |
| Other Financing Activities | -4.00M | -9.00M | 4.00M | -11.00M | ||
| Financing Cash Flow | 14.00M | -39.00M | -877.00M | -81.00M | -131.00M | -132.00M |
| Foreign Exchange Rate Adjustments | 2.00M | 6.00M | -10.00M | 6.00M | -8.00M | -7.00M |
| Net Cash Flow | -54.00M | -134.00M | -142.00M | -79.00M | 178.00M | -38.00M |
| Free Cash Flow | -49.00M | -132.00M | -78.00M | 38.00M | 52.00M | 163.00M |
| Free Cash Flow Margin | -1.67% | -4.34% | -2.32% | 1.02% | 1.35% | 3.94% |
| Free Cash Flow Per Share | -0.32 | -0.83 | -0.41 | 0.17 | 0.24 | 0.77 |
| Levered Free Cash Flow | 96.00M | 49.38M | 254.50M | 18.88M | 270.88M | 151.00M |
| Unlevered Free Cash Flow | 125.62M | 78.38M | 298.38M | 84.25M | 319.38M | 179.38M |
| Cash Interest Paid | 46.00M | 46.00M | 72.00M | 106.00M | 84.00M | 40.00M |
| Cash Income Tax Paid | 30.00M | 30.00M | 44.00M | 18.00M | 53.00M | 25.00M |
| Change in Working Capital | 6.00M | -101.00M | -12.00M | -138.00M | -134.00M | -138.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 242.61M | 293.55M | 645.95M | 793.10M | 874.48M | 1.14B |
| Enterprise Value | 865.61M | 1.07B | 1.34B | 2.02B | 1.97B | 2.56B |
| Last Close Price | 1.56 | 1.92 | 4.04 | 3.65 | 4.05 | 5.34 |
| PE Ratio | 1.55 | |||||
| Forward PE | 40.46 | 40.46 | 58.40 | 16.88 | 9.11 | |
| PS Ratio | 0.08 | 0.10 | 0.19 | 0.21 | 0.23 | 0.27 |
| PB Ratio | 0.46 | 0.35 | 0.66 | 1.02 | 0.83 | 0.89 |
| P/TBV Ratio | 17.46 | |||||
| P/FCF Ratio | 20.87 | 16.82 | 6.97 | |||
| P/OCF Ratio | 8.91 | 6.07 | 4.68 | |||
| PEG Ratio | 9.40 | 9.40 | 9.40 | 9.40 | 9.40 | |
| EV/Sales Ratio | 0.29 | 0.35 | 0.40 | 0.54 | 0.51 | 0.62 |
| EV/EBITDA Ratio | 11.39 | 19.81 | 17.58 | 8.40 | 6.53 | 6.67 |
| EV/EBIT Ratio | 22.40 | 13.79 | 26.90 | |||
| EV/FCF Ratio | 53.05 | 37.91 | 15.68 | |||
| Debt / Equity Ratio | 1.27 | 1.02 | 0.84 | 1.93 | 1.44 | 1.31 |
| Debt / EBITDA Ratio | 5.77 | 6.42 | 5.05 | 4.39 | 3.75 | 3.38 |
| Debt / FCF Ratio | 39.29 | 29.40 | 10.23 | |||
| Net Debt / Equity Ratio | 0.93 | 0.73 | 0.47 | 1.28 | 0.89 | 0.98 |
| Net Debt / EBITDA Ratio | 8.20 | 11.26 | 6.09 | 4.15 | 3.14 | 3.27 |
| Net Debt / FCF Ratio | -12.71 | -4.61 | -5.94 | 26.18 | 18.21 | 7.69 |
| Asset Turnover | 1.24 | 1.22 | 1.17 | 1.11 | 1.01 | 1.00 |
| Quick Ratio | 0.84 | 1.29 | 1.43 | 1.48 | 1.55 | 1.29 |
| Current Ratio | 1.55 | 1.57 | 1.68 | 1.91 | 1.76 | 1.64 |
| Return on Equity (ROE) | -20.54% | -18.76% | 48.41% | -32.28% | -15.60% | -2.15% |
| Return on Assets (ROA) | -1.24% | -1.83% | -1.06% | 1.67% | 2.35% | 1.43% |
| Return on Invested Capital (ROIC) | -3.42% | -5.06% | -2.57% | 4.77% | 6.31% | 3.65% |
| Return on Capital Employed (ROCE) | -3.10% | -4.30% | -2.60% | 3.90% | 5.40% | 3.20% |
| Earnings Yield | -99.12% | -57.91% | 65.95% | -37.32% | -20.81% | -2.46% |
| FCF Yield | -20.20% | -44.97% | -12.07% | 4.79% | 5.95% | 14.34% |
| Payout Ratio | 2.35% | |||||
| Buyback Yield / Dilution | 7.45% | 17.11% | 11.83% | -0.41% | -1.49% | -1.29% |