Conduent Inc Financials

CNDT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Conduent Inc (CNDT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 46/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Conduent Inc's revenue declined 9.8% year-over-year, from $3.7B to $3.4B. This contraction results in a growth score of 0/100.

Leverage

Conduent Inc carries a low D/E ratio of 0.73, meaning only $0.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Conduent Inc's current ratio of 1.68 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Conduent Inc generated -$50.0M in operating cash flow, capex of $28.0M consumed most of it, leaving -$78.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

100

Conduent Inc earns a strong 50.8% return on equity (ROE), meaning it generates $51 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Neutral

5/9

Conduent Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

-0.12x

For every $1 of reported earnings, Conduent Inc generates $-0.12 in operating cash flow (-$50.0M OCF vs $426.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$3.4B

YoY-9.8%

5Y CAGR-5.6%

10Y CAGR-7.0%

Conduent Inc generated $3.4B in revenue in fiscal year 2024. This represents a decrease of 9.8% from the prior year.

EBITDA

N/A

Free Cash Flow

-$78.0M

YoY-305.3%

Conduent Inc generated -$78.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 305.3% from the prior year.

Net Income

$426.0M

YoY+243.9%

Conduent Inc reported $426.0M in net income in fiscal year 2024. This represents an increase of 243.9% from the prior year.

EPS (Diluted)

$2.23

YoY+258.2%

Conduent Inc earned $2.23 per diluted share (EPS) in fiscal year 2024. This represents an increase of 258.2% from the prior year.

Cash & Debt

$366.0M

YoY-26.5%

5Y CAGR-5.9%

10Y CAGR+8.7%

Conduent Inc held $366.0M in cash against $615.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

162M

YoY-22.9%

5Y CAGR-5.2%

Conduent Inc had 162M shares outstanding in fiscal year 2024. This represents a decrease of 22.9% from the prior year.

Gross Margin

18.6%

YoY-3.8pp

5Y CAGR-3.1pp

Conduent Inc's gross margin was 18.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.8 percentage points from the prior year.

Operating Margin

N/A

Net Margin

12.7%

YoY+20.6pp

5Y CAGR+56.0pp

10Y CAGR+13.9pp

Conduent Inc's net profit margin was 12.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 20.6 percentage points from the prior year.

Return on Equity

50.8%

Conduent Inc's ROE was 50.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

$6.0M

YoY-14.3%

5Y CAGR-5.6%

10Y CAGR-18.4%

Conduent Inc invested $6.0M in research and development in fiscal year 2024. This represents a decrease of 14.3% from the prior year.

Share Buybacks

$182.0M

YoY+574.1%

Conduent Inc spent $182.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 574.1% from the prior year.

Capital Expenditures

$28.0M

YoY-45.1%

5Y CAGR-28.3%

10Y CAGR-17.4%

Conduent Inc invested $28.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 45.1% from the prior year.

CNDT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$3.4B-9.8%	$3.7B-3.5%	$3.9B-6.8%	$4.1B-0.6%	$4.2B-6.8%	$4.5B
Cost of Revenue	$2.7B-5.5%	$2.9B-4.3%	$3.0B-3.8%	$3.1B-2.2%	$3.2B-8.2%	$3.5B
Gross Profit	$626.0M-24.9%	$834.0M-0.7%	$840.0M-16.2%	$1.0B+5.0%	$954.0M-2.0%	$973.0M
R&D Expenses	$6.0M-14.3%	$7.0M0.0%	$7.0M+75.0%	$4.0M+300.0%	$1.0M-87.5%	$8.0M
SG&A Expenses	$455.0M-0.7%	$458.0M+4.1%	$440.0M-19.1%	$544.0M+16.2%	$468.0M-2.3%	$479.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$75.0M-32.4%	$111.0M+32.1%	$84.0M+52.7%	$55.0M-8.3%	$60.0M-23.1%	$78.0M
Income Tax	$78.0M+316.7%	-$36.0M-165.5%	$55.0M+1733.3%	$3.0M+114.3%	-$21.0M+87.8%	-$172.0M
Net Income	$426.0M+243.9%	-$296.0M-62.6%	-$182.0M-550.0%	-$28.0M+76.3%	-$118.0M+93.9%	-$1.9B
EPS (Diluted)	$2.23+258.2%	$-1.41-58.4%	$-0.89-394.4%	$-0.18+70.5%	$-0.61+93.4%	$-9.29

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$767.0M+1.7%	$754.0M+0.4%	$751.0M-6.1%	$800.0M-3.4%	$828.0M-10.1%	$921.0M-3.4%	$953.0M+2.3%	$932.0M
Cost of Revenue	$631.0M+2.3%	$617.0M-0.2%	$618.0M-6.6%	$662.0M-2.2%	$677.0M-7.9%	$735.0M-0.7%	$740.0M+2.2%	$724.0M
Gross Profit	$136.0M-0.7%	$137.0M+3.0%	$133.0M-3.6%	$138.0M-8.6%	$151.0M-18.8%	$186.0M-12.7%	$213.0M+2.4%	$208.0M
R&D Expenses	$1.0M0.0%	$1.0M0.0%	$1.0M-50.0%	$2.0M+100.0%	$1.0M-50.0%	$2.0M0.0%	$2.0M0.0%	$2.0M
SG&A Expenses	$96.0M-4.0%	$100.0M-16.7%	$120.0M+10.1%	$109.0M-5.2%	$115.0M-0.9%	$116.0M+1.8%	$114.0M-0.9%	$115.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$12.0M0.0%	$12.0M0.0%	$12.0M-7.7%	$13.0M-31.6%	$19.0M-29.6%	$27.0M-6.9%	$29.0M+3.6%	$28.0M
Income Tax	$8.0M+300.0%	$2.0M+140.0%	-$5.0M+92.9%	-$70.0M-183.3%	$84.0M+200.0%	$28.0M+380.0%	-$10.0M+58.3%	-$24.0M
Net Income	-$46.0M-15.0%	-$40.0M+21.6%	-$51.0M-325.0%	-$12.0M-105.6%	$216.0M+118.2%	$99.0M+1550.0%	$6.0M+102.1%	-$289.0M
EPS (Diluted)	$-0.30-15.4%	$-0.26+21.2%	$-0.33-1550.0%	$-0.02-101.9%	$1.07+132.6%	$0.46+4500.0%	$0.01+100.7%	$-1.34

CNDT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.6B-17.8%	$3.2B-11.5%	$3.6B-11.5%	$4.0B-5.2%	$4.3B-5.7%	$4.5B
Current Assets	$1.3B-24.4%	$1.7B+1.8%	$1.6B-3.3%	$1.7B+6.5%	$1.6B-0.6%	$1.6B
Cash & Equivalents	$366.0M-26.5%	$498.0M-14.4%	$582.0M+40.2%	$415.0M-7.8%	$450.0M-9.3%	$496.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$493.0M-11.8%	$559.0M-11.3%	$630.0M-9.9%	$699.0M+4.3%	$670.0M+2.8%	$652.0M
Goodwill	$609.0M-6.5%	$651.0M-31.8%	$955.0M-28.7%	$1.3B-12.4%	$1.5B+1.7%	$1.5B
Total Liabilities	$1.6B-32.4%	$2.4B-5.0%	$2.5B-9.1%	$2.8B-5.5%	$2.9B-4.8%	$3.1B
Current Liabilities	$744.0M-14.3%	$868.0M-6.0%	$923.0M-10.0%	$1.0B-6.1%	$1.1B-7.2%	$1.2B
Long-Term Debt	$615.0M-50.7%	$1.2B-2.3%	$1.3B-7.7%	$1.4B-2.6%	$1.4B-3.0%	$1.5B
Total Equity	$839.0M+33.4%	$629.0M-31.4%	$917.0M-19.0%	$1.1B-4.9%	$1.2B-8.5%	$1.3B
Retained Earnings	-$2.4B+14.6%	-$2.8B-12.0%	-$2.5B-8.2%	-$2.4B-1.6%	-$2.3B-5.9%	-$2.2B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.5B+0.5%	$2.5B-1.7%	$2.5B-2.6%	$2.6B-6.5%	$2.8B-9.1%	$3.1B-3.3%	$3.2B+0.5%	$3.1B
Current Assets	$1.2B+0.6%	$1.1B-3.2%	$1.2B-5.4%	$1.3B-7.4%	$1.4B-14.9%	$1.6B-4.0%	$1.7B+7.8%	$1.5B
Cash & Equivalents	$248.0M-9.8%	$275.0M-0.7%	$277.0M-24.3%	$366.0M+22.0%	$300.0M-27.7%	$415.0M-16.7%	$498.0M+10.4%	$451.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$488.0M+6.6%	$458.0M-4.6%	$480.0M-2.6%	$493.0M-4.8%	$518.0M-13.7%	$600.0M+7.3%	$559.0M-8.7%	$612.0M
Goodwill	$616.0M-0.2%	$617.0M+1.1%	$610.0M+0.2%	$609.0M-4.4%	$637.0M-0.9%	$643.0M-1.2%	$651.0M-2.5%	$668.0M
Total Liabilities	$1.6B+4.6%	$1.6B-1.1%	$1.6B-1.7%	$1.6B-14.3%	$1.9B-14.8%	$2.2B-7.4%	$2.4B+0.1%	$2.4B
Current Liabilities	$702.0M+0.7%	$697.0M-3.6%	$723.0M-2.8%	$744.0M-9.2%	$819.0M-3.5%	$849.0M-2.2%	$868.0M+7.8%	$805.0M
Long-Term Debt	N/A	N/A	N/A	$615.0M	N/A	N/A	$1.2B	N/A
Total Equity	$717.0M-7.7%	$777.0M-2.9%	$800.0M-4.6%	$839.0M+11.7%	$751.0M+7.1%	$701.0M+11.4%	$629.0M+1.9%	$617.0M
Retained Earnings	-$2.6B-1.9%	-$2.5B-1.7%	-$2.5B-2.2%	-$2.4B+4.2%	-$2.5B+7.7%	-$2.8B+3.4%	-$2.8B+0.1%	-$2.9B

CNDT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$50.0M-156.2%	$89.0M-38.2%	$144.0M-40.7%	$243.0M+50.9%	$161.0M+22.0%	$132.0M
Capital Expenditures	$28.0M-45.1%	$51.0M-44.6%	$92.0M+15.0%	$80.0M+5.3%	$76.0M-48.6%	$148.0M
Free Cash Flow	-$78.0M-305.3%	$38.0M-26.9%	$52.0M-68.1%	$163.0M+91.8%	$85.0M+631.3%	-$16.0M
Investing Cash Flow	$795.0M+954.8%	-$93.0M-153.8%	$173.0M+221.8%	-$142.0M-6.0%	-$134.0M+56.8%	-$310.0M
Financing Cash Flow	-$877.0M-982.7%	-$81.0M+38.2%	-$131.0M+0.8%	-$132.0M-78.4%	-$74.0M+12.9%	-$85.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$182.0M+574.1%	$27.0M	$0	$0	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$39.0M-160.0%	-$15.0M+74.1%	-$58.0M-241.5%	$41.0M+200.0%	-$41.0M-10.8%	-$37.0M-130.3%	$122.0M+1209.1%	-$11.0M
Capital Expenditures	$15.0M0.0%	$15.0M+7.1%	$14.0M+227.3%	-$11.0M-161.1%	$18.0M+38.5%	$13.0M-27.8%	$18.0M+38.5%	$13.0M
Free Cash Flow	-$54.0M-80.0%	-$30.0M+58.3%	-$72.0M-340.0%	$30.0M+150.8%	-$59.0M-18.0%	-$50.0M-148.1%	$104.0M+533.3%	-$24.0M
Investing Cash Flow	-$21.0M-165.6%	$32.0M+288.2%	-$17.0M-150.0%	$34.0M-91.7%	$410.0M+186.7%	$143.0M+593.1%	-$29.0M-31.8%	-$22.0M
Financing Cash Flow	$30.0M+250.0%	-$20.0M-100.0%	-$10.0M+89.6%	-$96.0M+80.1%	-$482.0M-142.2%	-$199.0M-503.0%	-$33.0M-106.3%	-$16.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$13.0M+85.7%	$7.0M	$0	$0-100.0%	$151.0M+788.2%	$17.0M-15.0%	$20.0M+233.3%	$6.0M

CNDT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	18.6%-3.8pp	22.4%+0.6pp	21.8%-2.4pp	24.2%+1.3pp	22.9%+1.1pp	21.8%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	12.7%+20.6pp	-8.0%-3.2pp	-4.7%-4.0pp	-0.7%+2.1pp	-2.8%+40.5pp	-43.3%
Return on Equity	50.8%	N/A	N/A	N/A	N/A	N/A
Return on Assets	16.4%+25.8pp	-9.4%-4.3pp	-5.1%-4.4pp	-0.7%+2.1pp	-2.8%+40.1pp	-42.8%
Current Ratio	1.68-0.2	1.91+0.1	1.76+0.1	1.64+0.2	1.44+0.1	1.35
Debt-to-Equity	0.73-1.3	1.98+0.6	1.39+0.2	1.22+0.0	1.19+0.1	1.13
FCF Margin	-2.3%-3.3pp	1.0%-0.3pp	1.4%-2.6pp	3.9%+1.9pp	2.0%+2.4pp	-0.4%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	17.7%-0.4pp	18.2%+0.5pp	17.7%+0.5pp	17.3%-1.0pp	18.2%-2.0pp	20.2%-2.1pp	22.4%+0.0pp	22.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-6.0%-0.7pp	-5.3%+1.5pp	-6.8%-5.3pp	-1.5%-27.6pp	26.1%+15.3pp	10.8%+10.1pp	0.6%+31.6pp	-31.0%
Return on Equity	N/A	N/A	N/A	14.0%-14.7pp	28.8%+14.6pp	14.1%+13.2pp	0.9%	N/A
Return on Assets	-1.8%-0.2pp	-1.6%+0.4pp	-2.0%-1.6pp	-0.5%-8.2pp	7.8%+4.5pp	3.2%+3.0pp	0.2%+9.4pp	-9.2%
Current Ratio	1.640.0	1.650.0	1.64-0.0	1.68+0.0	1.65-0.2	1.87-0.0	1.910.0	1.91
Debt-to-Equity	2.29+0.3	2.02+0.0	1.98+1.2	0.73-1.8	2.51-0.6	3.15+1.2	1.98-1.9	3.86
FCF Margin	-7.0%-3.1pp	-4.0%+5.6pp	-9.6%-13.3pp	3.8%+10.9pp	-7.1%-1.7pp	-5.4%-16.3pp	10.9%+13.5pp	-2.6%

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Frequently Asked Questions

What is Conduent Inc's annual revenue?

Conduent Inc (CNDT) reported $3.4B in total revenue for fiscal year 2024. This represents a -9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Conduent Inc's revenue growing?

Conduent Inc (CNDT) revenue declined by 9.8% year-over-year, from $3.7B to $3.4B in fiscal year 2024.

Is Conduent Inc profitable?

Yes, Conduent Inc (CNDT) reported a net income of $426.0M in fiscal year 2024, with a net profit margin of 12.7%.

What is Conduent Inc's earnings per share (EPS)?

Conduent Inc (CNDT) reported diluted earnings per share of $2.23 for fiscal year 2024. This represents a 258.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Conduent Inc have?

As of fiscal year 2024, Conduent Inc (CNDT) had $366.0M in cash and equivalents against $615.0M in long-term debt.

What is Conduent Inc's gross margin?

Conduent Inc (CNDT) had a gross margin of 18.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Conduent Inc's net profit margin?

Conduent Inc (CNDT) had a net profit margin of 12.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Conduent Inc's return on equity (ROE)?

Conduent Inc (CNDT) has a return on equity of 50.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Conduent Inc's free cash flow?

Conduent Inc (CNDT) generated -$78.0M in free cash flow during fiscal year 2024. This represents a -305.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Conduent Inc's operating cash flow?

Conduent Inc (CNDT) generated -$50.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Conduent Inc's total assets?

Conduent Inc (CNDT) had $2.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Conduent Inc's capital expenditures?

Conduent Inc (CNDT) invested $28.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Conduent Inc spend on research and development?

Conduent Inc (CNDT) invested $6.0M in research and development during fiscal year 2024.

Does Conduent Inc buy back shares?

Yes, Conduent Inc (CNDT) spent $182.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Conduent Inc have outstanding?

Conduent Inc (CNDT) had 162M shares outstanding as of fiscal year 2024.

What is Conduent Inc's current ratio?

Conduent Inc (CNDT) had a current ratio of 1.68 as of fiscal year 2024, which is generally considered healthy.

What is Conduent Inc's debt-to-equity ratio?

Conduent Inc (CNDT) had a debt-to-equity ratio of 0.73 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Conduent Inc's return on assets (ROA)?

Conduent Inc (CNDT) had a return on assets of 16.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Conduent Inc's cash runway?

Based on fiscal year 2024 data, Conduent Inc (CNDT) had $366.0M in cash against an annual operating cash burn of $50.0M. This gives an estimated cash runway of approximately 88 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Conduent Inc's Piotroski F-Score?

Conduent Inc (CNDT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Conduent Inc's earnings high quality?

Conduent Inc (CNDT) has an earnings quality ratio of -0.12x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Conduent Inc?

Conduent Inc (CNDT) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.