Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
The margin dip is the restructuring bill
Project Leap charges took 0.9% of revenue, more than the 0.6-point fall in operating margin, so the underlying business held up.
For investorsWhat the margin rests on once the restructuring ends
For foundersFunding a reinvention from your own cost base
Net income rose 128.8% only because last year's quarter carried a one-time tax charge; the business earned slightly less before tax.
Collection days rose to 89 from 82 a year earlier, so more of the profit waits in receivables before it becomes cash.
Revenue grew by almost a third across the record while operating margin slipped, consistent with growth that comes mostly from adding people.
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Business Lens describes Cognizant from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
