Conduent (CNDT) financial statements
Conduent reported revenue of $3.0B in fiscal 2025, down 7.9% a year over 9 years.
Net income was -$170M and the operating margin -5.3%, against -19.1% in 2016.
Free cash flow was -$154M.
The diluted share count fell 22% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Conduent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.4B | $6.0B | $5.4B | $4.5B | $4.2B | $4.1B | $3.9B | $3.7B | $3.4B | $3.0B |
| Cost of revenue | $5.2B | $4.7B | $4.2B | $3.5B | $3.2B | $3.1B | $3.0B | $2.9B | $2.7B | $2.5B |
| Gross profit | $910M | $1.0B | $1.2B | $973M | $954M | $1.0B | $840M | $834M | $626M | $552M |
| Research and development | $31M | $12M | $11M | $8M | $1M | $4M | $7M | $7M | $6M | $4M |
| Selling, general and admin | $679M | $611M | $560M | $479M | $468M | $544M | $440M | $458M | $455M | $412M |
| Operating income | -$1.2B | -$16M | -$395M | -$2.1B | -$139M | -$25M | -$127M | -$332M | $504M | -$160M |
| Interest expense | $40M | $137M | $112M | $78M | $60M | $55M | $84M | $111M | $75M | $48M |
| Pre-tax income | -$1.2B | -$16M | -$395M | -$2.1B | -$139M | -$25M | -$127M | -$332M | $504M | -$160M |
| Income tax | -$244M | -$193M | $21M | -$172M | -$21M | $3M | $55M | -$36M | $78M | $10M |
| Net income | -$983M | $181M | -$416M | -$1.9B | -$118M | -$28M | -$182M | -$296M | $426M | -$170M |
| EPS (diluted) | -$4.85 | $0.83 | -$2.06 | -$9.29 | -$0.61 | -$0.18 | -$0.89 | -$1.41 | $2.23 | -$1.14 |
| Diluted shares | 203M | 207M | 206M | 209M | 210M | 213M | 216M | 217M | 191M | 158M |
| Gross margin | 14.2% | 17.4% | 22.5% | 21.8% | 22.9% | 24.2% | 21.8% | 22.4% | 18.7% | 18.1% |
| Operating margin | -19.1% | -0.3% | -7.3% | -47.1% | -3.3% | -0.6% | -3.3% | -8.9% | 15.0% | -5.3% |
| Net margin | -15.3% | 3.0% | -7.7% | -43.3% | -2.8% | -0.7% | -4.7% | -8.0% | 12.7% | -5.6% |
Balance sheet
Fiscal years, from Conduent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $390M | $658M | $756M | $496M | $450M | $415M | $582M | $498M | $366M | $233M |
| Receivables | $1.3B | $1.1B | $782M | $652M | $670M | $699M | $630M | $559M | $493M | $341M |
| Inventory | $41M | — | — | — | — | — | — | — | — | — |
| Total current assets | $1.9B | $2.7B | $2.0B | $1.6B | $1.6B | $1.7B | $1.6B | $1.7B | $1.3B | $1.2B |
| Property, plant and equipment | $283M | $257M | $328M | $342M | $305M | $281M | $266M | $197M | $167M | $167M |
| Goodwill | $3.9B | $3.4B | $3.4B | $1.5B | $1.5B | $1.3B | $955M | $651M | $609M | $617M |
| Total assets | $7.7B | $7.5B | $6.7B | $4.5B | $4.3B | $4.0B | $3.6B | $3.2B | $2.6B | $2.4B |
| Total current liabilities | $1.4B | $1.4B | $1.2B | $1.2B | $1.1B | $1.0B | $923M | $868M | $744M | $728M |
| Long-term debt | $1.9B | $2.0B | $1.5B | $1.5B | $1.4B | $1.4B | $1.3B | $1.2B | $615M | $665M |
| Total liabilities | $4.3B | $3.9B | $3.3B | $3.1B | $2.9B | $2.8B | $2.5B | $2.4B | $1.6B | $1.6B |
| Shareholders' equity | $3.3B | $3.5B | $3.2B | $1.3B | $1.2B | $1.1B | $917M | $629M | $839M | $685M |
| Net debt | $1.6B | $1.4B | $811M | $1.0B | $1.1B | $998M | $730M | $784M | $273M | $454M |
Cash flow
Fiscal years, from Conduent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $95M | $300M | $283M | $132M | $161M | $243M | $144M | $89M | -$50M | -$73M |
| Capital spending | $188M | $132M | $224M | $215M | $139M | $147M | $153M | $93M | $56M | $81M |
| Free cash flow | -$93M | $168M | $59M | -$83M | $22M | $96M | -$9M | -$4M | -$106M | -$154M |
| Stock-based compensation | $23M | $40M | $38M | $24M | $20M | $21M | $21M | $19M | $19M | $19M |
| Net borrowing | $1.9B | $65M | -$519M | -$54M | -$50M | -$201M | -$20M | -$41M | -$676M | -$100M |
| Free cash flow margin | -1.5% | 2.8% | 1.1% | -1.9% | 0.5% | 2.3% | -0.2% | -0.1% | -3.2% | -5.1% |
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Open CNDT in InvestinglyQuestions
What was Conduent's revenue in 2025?
$3.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Conduent generate?
-$154M in fiscal 2025 (operating cash flow minus capital spending).
From Conduent's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.