CTSH vs FIS: Cognizant Technology Solutions and Fidelity National Information Services compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Cognizant Technology Solutions is the larger company, worth $28.7B, about 1.7 times Fidelity National Information Services.
- Fidelity National Information Services grew revenue faster over the last year (+29.1% vs +5.8%).
- Cognizant Technology Solutions keeps more of each dollar of revenue as operating profit (15.8% vs 15.7%).
- On earnings, Fidelity National Information Services is the cheaper stock (6.5x vs 13.2x).
- Cognizant Technology Solutions's price assumes faster free cash flow growth: about -3% a year, against -3% for Fidelity National Information Services (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CTSH | FIS |
|---|---|---|
| Market cap | $28.7B | $17.3B |
| Share price | $59.20 | $34.04 |
| Revenue (last fiscal year) | $21.1B | $10.7B |
| Free cash flow (last fiscal year) | $2.6B | $1.6B |
| Revenue growth, last year | +5.8% | +29.1% |
| Revenue growth per year, last 5 fiscal years | +3.3% | +3.4% |
| Operating margin | 15.8% | 15.7% |
| Net margin | 10.4% | 27.6% |
| Return on equity | 14.8% | 21.0% |
| P/E (trailing) | 13.2x | 6.47x |
| Price / free cash flow | 11.1x | 6.14x |
| EV / EBITDA | 7.49x | 7.35x |
| FCF growth the price implies | -2.8% | -3.3% |
| Dividend yield | 2.2% | 4.9% |
| Debt / equity | 0.36x | 1.75x |
| Fundamental grade | C | B |
| Superinvestors holding it | 6 | 9 |
| Insider purchases, last 12 months | 10 | 9 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cognizant Technology Solutions
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.5B | $2.2B | 15.3% |
| 2022 | $19.4B | $2.2B | 15.3% |
| 2023 | $19.4B | $2.0B | 13.9% |
| 2024 | $19.7B | $1.8B | 14.7% |
| 2025 | $21.1B | $2.6B | 16.1% |
Fidelity National Information Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $9.3B | $3.6B | 11.1% |
| 2022 | $9.7B | $2.9B | 12.1% |
| 2023 | $9.8B | $3.6B | 14.7% |
| 2024 | $10.1B | $1.4B | 16.9% |
| 2025 | $10.7B | $1.6B | 16.3% |
Where the revenue comes from
Cognizant Technology Solutions · by segments, 2025
Fidelity National Information Services · by segments, 2025
Questions
Which is bigger, Cognizant Technology Solutions or Fidelity National Information Services?
Cognizant Technology Solutions (CTSH), at $28.7B against $17.3B.
Is CTSH or FIS cheaper?
By trailing P/E, Fidelity National Information Services (6.47x) is cheaper than Cognizant Technology Solutions (13.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, CTSH or FIS?
Fidelity National Information Services: revenue grew +29.1% over the last year, against +5.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.