Global IT services firm
Cognizant Technology Solutions Corporation
Cognizant earns revenue by building and managing applications, cloud, data, and business operations for large enterprises. It relies on enterprise software and cloud platforms such as Microsoft and Workday for delivery and internal operations, while acquisitions extend its engineering capabilities.
Business categories IT & Business Process Services · Business & Facility Services · primary
CTSH Updated Sep 24, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, Cognizant Technology Solutions Corporation is directly linked to 4 companies (2 supply, 2 revenue relationships) and reaches 26 companies within two hops; the links are backed by 9 dated sources, 2 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · FY2025 total revenue of $21.108 billion
- Segments · Health Sciences · Financial Services · Products and Resources · Communications, Media and Technology
Revenue from
- McDonald's Corporation High confidence
Cognizant supports McDonald's global finance systems and human capital management applications. The relationship that began in 2017 was extended through a multi-year agreement in 2025, but its value was not disclosed.Confirms EN SEC EDGAR Published Feb 5, 2025: Cognizant Reports Fourth Quarter and Full-Year 2024 Results, Exhibit 99.1Confirms EN Cognizant Investor Relations Published Jan 21, 2025: Cognizant and McDonald's Renew Strategic Partnership to Transform Global Enterprise Systems, Focus on AI & Cloud Solutions - Gilead Sciences, Inc. High confidence
Cognizant provides AI-driven solutions for Gilead's customer service, employee experience, and business value management. The companies expanded their existing relationship in 2025 without disclosing the contract value.Confirms EN SEC EDGAR Published Feb 5, 2025: Cognizant Reports Fourth Quarter and Full-Year 2024 Results, Exhibit 99.1Confirms EN Cognizant Investor Relations Published Jan 30, 2025: Cognizant and Gilead Expand Partnership to Drive Greater Value Through Advanced Technology Applications
Pays to
- Workday, Inc. Medium confidence
Cognizant is a Workday customer using HCM and Financial Management across its global offices. It is also an implementation partner, and its spending was not disclosed. - Microsoft Medium confidence
Cognizant uses Azure AI, Microsoft 365 Copilot, and Teams in internal project management and workflows. The commercial scale and spending were not disclosed.Confirms EN Microsoft Source Asia Published Sep 9, 2026: How Microsoft AI is helping Cognizant scale Delivery Excellence across 10,000 projectsConfirms EN Microsoft Customer Stories Published Feb 12, 2024: Cognizant makes performance management more effective and meaningful with Microsoft Azure Machine Learning
Investments
- Belcan, LLC High confidence· Amount $1.3B · 2024 acquisition · Consideration for 100% of Belcan, comprising net cash paid and the fair value of issued shares
Cognizant acquired 100% of Belcan in August 2024, adding engineering research and development capabilities focused on aerospace and defense. Actual consideration was $1.195 billion in cash and $113 million in shares.Confirms EN SEC EDGAR Published Feb 12, 2026: Cognizant Technology Solutions Corporation 2025 Form 10-KConfirms KO Maeil Business Newspaper Stock Center Published Feb 4, 2026: Cognizant Revenue Rose 7% in 2025, Guides Up to 7.4% Growth in 2026Confirms EN Cognizant Investor Relations Published Aug 27, 2024: Cognizant Completes Acquisition of Belcan
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Cardinal Health, Inc. | lead2 | -0.4 | +54.1 | +34.1 | +19 | +76.3 | +21.1 |
| Keurig Dr Pepper Inc. | lead2 | +17.5 | -1.2 | -4.2 | -1.1 | -10.1 | +17 |
| McKesson Corporation | lead2 | +44.2 | +51.8 | +24.1 | +23.7 | +44.5 | +14.8 |
| Cencora, Inc. | lead2 | +44.1 | +26.3 | +25.3 | +10.4 | +51.5 | -1.4 |
| Gilead Sciences, Inc. | lead1 | +30 | +23.6 | -2 | +18.7 | +36.6 | +25.4 |
| McDonald's | lead1 | +27.8 | +0.5 | +15.1 | +0.1 | +7.9 | -21.5 |
| Cognizant Technology Solutions Corporation | node | +9.6 | -34.5 | +34.4 | +3.5 | +9.7 | -23.6 |
| Microsoft | benef1 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Workday, Inc. | benef1 | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| AMD | benef2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +183.9 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| Western Digital | benef2 | +17.7 | -51.6 | +66 | +13.9 | +283.7 | +130.9 |
| Sumitomo Electric | benef2 | +11.4 | +6.3 | +30.8 | +52.9 | +139 | +43.2 |
| Equinix | benef2 | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +37.3 |
| IREN | benef2 | · | -92.3 | +472 | +37.3 | +284.6 | +18.3 |
| CoreWeave | benef2 | · | · | · | · | · | +14.6 |
| Amazon | benef2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Automatic Data Processing, Inc. | benef2 | +42.6 | -1.3 | -0.2 | +28.4 | -10.2 | +9.6 |
| Alphabet (Google) | benef2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| 3M Company | benef2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| Expedia Group, Inc. | benef2 | +36.5 | -51.5 | +73.3 | +22.8 | +53.3 | +5.8 |
| WEC Energy Group | benef2 | +8.7 | -0.5 | -7 | +16.1 | +16 | +3.1 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +2.8 |
| Brookfield Asset Management Ltd. | benef2 | · | · | +45.6 | +39.7 | -0.2 | -9.7 |
| Constellation Energy | benef2 | · | · | +37.2 | +92.7 | +58.8 | -15.3 |
| Take-Two Interactive Software, Inc. | benef2 | -14.5 | -41.4 | +54.6 | +14.4 | +39.1 | -16.6 |
YTD as of 2026-09-04 · source: Yahoo Finance
Cognizant Technology Solutions Corporation operates across Global IT services firm. It is -23.6% in 2026. The supply side (avg -2.4%) has moved harder than the stock (-23.6%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Gilead Sciences, Inc. (+24.5%) and the furthest behind is McDonald's (-14.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It relies on enterprise software and cloud platforms such as Microsoft and Workday for delivery and internal operations, while acquisitions extend its engineering capabilities.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple