Cognizant Technology Solutions Corporation (CTSH) vs International Business Machines Corporation (IBM)

Cognizant Technology Solutions Corporation and International Business Machines Corporation are both Information Technology Services companies. International Business Machines Corporation is the larger, with a market value of $214.4B against $25.6B — 8.4× the size. Cognizant Technology Solutions Corporation trades at the lower P/E: 12.3× against 19.7×. International Business Machines Corporation grew revenue faster over the last twelve months: 7.90% against 5.64%. International Business Machines Corporation has the higher net margin (15.5% vs 10.3%) and the lower return on invested capital (7.86% vs 14.4%). Both pay a dividend; International Business Machines Corporation yields more (3.70% vs 1.57%). Across the 23 metrics below, Cognizant Technology Solutions Corporation leads on 14 and International Business Machines Corporation on 9.

Valuation

Metric CTSH IBM Information Technology Services median
P/E 12.28 19.70 14.63
P/S 1.23 3.07 1.13
P/B 1.84 6.14 2.10
Price to free cash flow 10.26 15.35 10.11
EV/EBITDA 6.79 16.31 8.56
EV/Sales 1.25 3.85 1.20
Earnings yield 8.14% 5.08% 4.56%
Free cash flow yield 9.74% 6.52% 4.37%

Profitability

Metric CTSH IBM Information Technology Services median
Gross margin 33.44% 58.10% 31.05%
Operating margin 15.88% 16.08% 3.30%
Net margin 10.26% 15.52% 2.09%
Free cash flow margin 12.00% 20.02% 0.00%
Return on equity 14.92% 34.52% 4.12%
Return on assets 10.83% 7.13% 0.61%
Return on invested capital 14.38% 7.86% 0.57%

Growth

Metric CTSH IBM Information Technology Services median
Revenue growth (TTM) 5.64% 7.90% 7.12%
EPS growth (last fiscal year) 1.11% 73.72% —
Revenue growth, 5-year CAGR 4.86% 4.12% 7.71%
Net income growth, 5-year CAGR 9.88% 13.64% 0.00%

Health

Metric CTSH IBM Information Technology Services median
Debt to equity 0.11 1.79 0.45
Current ratio 2.18 0.79 1.66
Net debt to EBITDA (0.35) 2.95 0.44

Dividend

Metric CTSH IBM Information Technology Services median
Dividend yield 1.57% 3.70% 1.21%
Payout ratio 0.26 2.81 0.00

Size

Metric CTSH IBM Information Technology Services median
Market cap 25.59b 214.41b 1.36b

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