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2021 Annual Report
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Engineering modern, intuitive businesses

Intuition improves the way humans interact with the world—and we help you harness it

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<h3>Sense change before it happens—and act at superhuman speed</h3> <h5><span class="text-primary">In 2021, COVID-19 continued to put lives and livelihoods at risk while challenging businesses with hard-to-predict changes and ceaseless uncertainty.</span></h5> <h5><span class="text-primary">For organizations to remain relevant now and into the future, we believe an intuition-like capacity is more than desirable, it’s necessary. But how do you infuse an organic human quality throughout a global enterprise?</span></h5> <h5><span class="text-primary">Thanks to recent gains in technology, companies can balance human empathy and creativity with the extraordinary speed of machines, thereby extending the capabilities of both. Some say fortune favors the bold. But to stay relevant, we believe the bold must anticipate change and continuously adapt to it.</span></h5>
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2022 Proxy Statement

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2021 Annual Report

Engineering modern, intuitive businesses

Get the 2021 Annual Report

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<h3>However the world turns, modern businesses will turn with it.</h3>
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Formula one Aston Martin car at full speed with Cognizant branding on it
Enabling the Aston Martin team to anticipate and act, instantaneously

In a sport where milliseconds matter, a place on the podium often rests on data—and the speed with which a team can respond. In a year of change for Aston Martin, we’re bringing the technology expertise necessary to create a world-class AMF1 team that’s data-driven and designed to come out ahead. Through our work with AMF1, we aim to expand global fan base engagement, implement new FIA Cost Cap measures and fulfill the team’s vision to be world champions. In this initial year of our partnership, we immersed ourselves in Aston Martin F1’s way of working, which enabled us to recommend initiatives to advance its mission.

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Creating a culture of innovation that keeps KeyBank ahead of client needs

As a regional bank with a dedicated focus on the changing needs of its customers, KeyBank sees itself as a modern, technology-driven organization with an innovator’s appetite for digital. As such, the firm has accelerated its shift to an open banking culture and prioritized automation to deliver new and even more relevant capabilities to clients, through and beyond the pandemic. As KeyBank’s primary digital partner, we delivered open banking APIs that drive speed, agility, security and efficiency for internal digital initiatives as well as in those with KeyBank’s external fintech partners. Through our automation efforts, KeyBank is now able to streamline processes and respond faster to client requests, helping the business operate with the speed and insight of intuition.

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<h3>Intuition at scale has the power to improve everyday life. And we can engineer it.</h3>
Environment
We leverage our expertise and resources to help address climate change. We are also committed to achieve net zero emissions.
Social
As a company, we continue to increase the diversity of associates and create a more inclusive work environment for all.
Governance
Cognizant’s senior global leadership team brings deep industry experience to the organization and maintains a strong ethical climate.
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<h3>2021 performance and acquisitions</h3> <p>During 2021, we meaningfully enhanced our digital portfolio, strengthened our international presence, advanced our brand and continued to invest in our talent while helping our clients be successful.</p>
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REVENUE

$19.4B

11.1% growth Y/Y (as reported)
10.0% growth (constant currency)*

GAAP OPERATING MARGIN

15.3%

ADJUSTED OPERATING MARGIN*

15.4%

SHARE REPURCHASES AND DIVIDENDS

$1.3B

CAPITAL DEPLOYED ON ACQUISITIONS

$1.0B

CASH FLOW FROM OPERATIONS

$2.5B

FREE CASH FLOW*

$2.2B

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<p>*Constant currency revenue growth, adjusted operating margin and free cash flow are not measurements of financial performance prepared in accordance with GAAP. See “Non-GAAP Financial Measures” in our 10-K, pages 30-32, for more information and a reconciliation to the most directly comparable GAAP financial measure, as applicable.</p>
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