CONDUENT Inc CNDT
In this Form 10-K, unless the content otherwise dictates, "Conduent", the "Company", "we" or "our" mean Conduent Incorporated and its consolidated subsidiaries.
We deliver digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for our clients and the millions of people who count on them. We leverage cloud computing, artificial intelligence ("AI"), machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 51,000 associates, process expertise and advanced technologies, our solutions and services digitally transform our clients' operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.04B | $3.36B | $3.72B | $3.86B | $4.14B | $4.16B | $4.47B | $5.39B | $6.02B | $6.41B |
| Cost of revenue | $2.49B | $2.73B | $2.89B | $3.02B | $3.14B | $3.21B | $3.49B | $4.18B | $4.73B | $5.17B |
| Gross profit | $552.0M | $626.0M | $834.0M | $840.0M | $1.00B | $954.0M | $973.0M | $1.21B | $1.04B | $910.0M |
| R&D | $4.0M | $6.0M | $7.0M | $7.0M | $4.0M | $1.0M | $8.0M | $11.0M | $12.0M | $31.0M |
| SG&A | $412.0M | $455.0M | $458.0M | $440.0M | $544.0M | $468.0M | $479.0M | $560.0M | $611.0M | $679.0M |
| Total operating expenses | $3.20B | $2.85B | $4.05B | $3.98B | $4.17B | $4.30B | $6.57B | $5.79B | $6.04B | $7.63B |
| Interest expense | $48.0M | $75.0M | $111.0M | $84.0M | $55.0M | $60.0M | $78.0M | $112.0M | $137.0M | $40.0M |
| Pre-tax income | -$160.0M | $504.0M | -$332.0M | -$127.0M | -$25.0M | -$139.0M | -$2.11B | -$395.0M | -$16.0M | -$1.23B |
| Income tax | $10.0M | $78.0M | $36.0M | $55.0M | $3.0M | $21.0M | $172.0M | $21.0M | $193.0M | $244.0M |
| Net income | -$170.0M | $426.0M | -$296.0M | -$182.0M | -$28.0M | -$118.0M | -$1.93B | -$416.0M | $181.0M | -$983.0M |
| EPS, basic | -1.14 | 2.28 | -1.41 | -0.89 | -0.18 | -0.61 | -9.29 | -2.06 | 0.84 | -4.85 |
| EPS, diluted | -1.14 | 2.23 | -1.41 | -0.89 | -0.18 | -0.61 | -9.29 | -2.06 | 0.83 | -4.85 |
| Shares, diluted (wtd. avg.) | $158.4M | $191.1M | $216.8M | $215.9M | $212.7M | $210.0M | $209.3M | $206.1M | $206.8M | $202.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $233.0M | $366.0M | $519.0M | $598.0M | $420.0M | $458.0M | $505.0M | $765.0M | $667.0M | $416.0M |
| Receivables | $500.0M | $493.0M | $559.0M | $630.0M | $699.0M | $670.0M | $652.0M | $782.0M | $1.10B | $1.29B |
| Inventory | — | — | — | — | — | — | — | — | — | $41.0M |
| Total current assets | $1.07B | $1.25B | $1.66B | $1.62B | $1.68B | $1.58B | $1.59B | $1.96B | $2.71B | $1.92B |
| Property, plant and equipment | $181.0M | $167.0M | $197.0M | $266.0M | $281.0M | $305.0M | $342.0M | $328.0M | $257.0M | $283.0M |
| Goodwill | $617.0M | $609.0M | $651.0M | $955.0M | $1.34B | $1.53B | $1.50B | $3.41B | $3.37B | $3.89B |
| Other intangibles | $12.0M | $14.0M | $32.0M | $39.0M | $52.0M | $187.0M | $426.0M | $651.0M | $891.0M | $1.14B |
| Total assets | $2.40B | $2.60B | $3.16B | $3.57B | $4.04B | $4.26B | $4.51B | $6.68B | $7.55B | $7.71B |
| Accounts payable | $142.0M | $157.0M | $174.0M | $228.0M | $198.0M | $182.0M | $198.0M | $230.0M | $138.0M | $164.0M |
| Short-term debt | $22.0M | $24.0M | $34.0M | $35.0M | $30.0M | $90.0M | $50.0M | $55.0M | — | $28.0M |
| Total current liabilities | $681.0M | $744.0M | $868.0M | $923.0M | $1.02B | $1.09B | $1.18B | $1.20B | $1.37B | $1.40B |
| Total liabilities | $1.57B | $1.61B | $2.39B | $2.51B | $2.76B | $2.92B | $3.07B | $3.32B | $3.88B | $4.28B |
| Retained earnings | -$2.61B | -$2.43B | -$2.85B | -$2.54B | -$2.35B | -$2.31B | -$2.19B | -$233.0M | $171.0M | $0 |
| Total equity | $685.0M | $839.0M | $633.0M | $917.0M | $1.13B | $1.19B | $1.30B | $3.22B | $3.53B | $3.29B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$73.0M | -$50.0M | $89.0M | $144.0M | $243.0M | $161.0M | $132.0M | $283.0M | $300.0M | $95.0M |
| Depreciation and amortisation | $194.0M | $204.0M | $264.0M | $230.0M | $352.0M | $459.0M | $459.0M | $460.0M | $495.0M | $611.0M |
| Stock-based compensation | $19.0M | $19.0M | $19.0M | $21.0M | $21.0M | $20.0M | $24.0M | $38.0M | $40.0M | $23.0M |
| Capital expenditure | $59.0M | $28.0M | $51.0M | $92.0M | $80.0M | $76.0M | $148.0M | $179.0M | $96.0M | $149.0M |
| Investing cash flow | -$28.0M | $795.0M | -$93.0M | $173.0M | -$142.0M | -$134.0M | -$310.0M | $460.0M | $74.0M | $16.0M |
| Financing cash flow | -$39.0M | -$877.0M | -$81.0M | -$131.0M | -$132.0M | -$74.0M | -$85.0M | -$637.0M | -$124.0M | $150.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001677703-26-000049.
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