Cognizant Technology Solutions Corporation (CTSH)
Cognizant offers IT consulting, digital engineering, and outsourcing services with a large delivery workforce in India.
CTSH vs SMCI: how the two businesses compare
- Similar size: SMCI and CTSH each brought in about $22.0B of yearly revenue.
- More profitable: CTSH keeps 11 cents of each sales dollar as profit, against 5 cents at SMCI.
- More cash from each sale: CTSH turns 14 cents of each sales dollar into operating cash flow, against 8 cents at SMCI.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Super Micro Computer (SMCI) and Cognizant Technology Solutions (CTSH) reported similar revenue: $22.0B (fiscal year ended Jun 2025) versus $21.1B (fiscal year ended Dec 2025). CTSH's net margin was 10.6% and SMCI's 4.8%. The SEC classifies them differently (Services-Computer Programming Services; Electronic Computers); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Different
- Separate classifications
- Different
- CTSH December 31 · SMCI June 30
- Aug 31, 2026
CTSH vs SMCI: quick comparison
| Company fact | CTSH | SMCI |
|---|---|---|
| Company | Cognizant Technology Solutions Corporation | Super Micro Computer, Inc. |
| Exchange | NASDAQ | NASDAQ |
| SEC industry | Services-Computer Programming Services | Electronic Computers |
| Fiscal year-end | December 31 | June 30 |
| Latest annual filing | 10-K · 2026-02-12 | 10-K · 2026-08-31 |
CTSH vs SMCI: audited financials
- Scale: revenue is roughly in line ($22.0B for SMCI versus $21.1B for CTSH).
- Net margin: CTSH kept 10.6% of revenue as net income versus 4.8% at SMCI.
- Cash conversion: operating cash flow equalled CTSH 13.7% of revenue, or 1.29× net income; SMCI 7.6% of revenue, or 1.58× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 6 months apart (2025-12-31 for CTSH, 2025-06-30 for SMCI), so each figure reflects somewhat different demand and cost conditions.
| Metric | CTSH | SMCI |
|---|---|---|
| Revenue | $21.1B2025-01-01 to 2025-12-31 · SEC filing | $22.0B2024-07-01 to 2025-06-30 · SEC filing |
| Net income | $2.2B2025-01-01 to 2025-12-31 · SEC filing | $1.0B2024-07-01 to 2025-06-30 · SEC filing |
| Operating cash flow | $2.9B2025-01-01 to 2025-12-31 · SEC filing | $1.7B2024-07-01 to 2025-06-30 · SEC filing |
| Diluted EPS | $4.562025-01-01 to 2025-12-31 · SEC filing | $1.682024-07-01 to 2025-06-30 · SEC filing |
| Net margin | 10.6%2025-01-01 to 2025-12-31 · SEC filing | 4.8%2024-07-01 to 2025-06-30 · SEC filing |
CTSH: FY ending 2025-12-31 · SMCI: FY ending 2025-06-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where CTSH and SMCI overlap, and where they don't
Overlap
- Shared research theme: Artificial intelligence.
Differences
- Different SEC industries: CTSH files as Services-Computer Programming Services; SMCI as Electronic Computers.
- Offset fiscal calendars: CTSH's year ends December 31 and SMCI's June 30, about 6 months apart.
- Only CTSH maps to International markets.
- Only SMCI maps to Tariffs & trade.
- Profitability: net margin of 10.6% for CTSH versus 4.8% for SMCI.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Super Micro Computer, Inc. (SMCI)
Super Micro Computer builds high-performance servers and storage systems tailored for AI and data-center workloads.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves CTSH
We have not yet published a company-specific driver list for CTSH. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-12.
What moves SMCI
We have not yet published a company-specific driver list for SMCI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-31.
The investment question
You now know how CTSH and SMCI are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to artificial intelligence, and which evidence in the next filings would prove that assumption wrong.
Members-only research
What members are reading this month
- Issue 07: The Vote That Knocked Almost a Quarter off Data Center Stocks
Texas has frozen new data center approvals since the summer. The vote extends that freeze, but it cannot unplug campuses that already have power. We map who is exposed, test whether the sell-off overshot and say where the real risk sits.
- Citadel bought the AI fire sale. The seller had run out of time.
Up 439% in the first half, down about 67% in July: how an AI hedge fund ended up selling a roughly $16 billion stock book to Citadel at a discount.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. CTSH's fiscal year ends December 31, while SMCI's ends June 30. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 6 matched transaction rows for CTSH and 11 matched transaction rows for SMCI. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CTSH primary filings
SMCI primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
CTSH vs SMCI FAQs
Are CTSH and SMCI direct competitors?
Not necessarily. Cognizant Technology Solutions files as Services-Computer Programming Services and Super Micro Computer as Electronic Computers. The pair is compared because both map to the Artificial intelligence research theme, not because the filings show head-to-head competition.
Is CTSH or SMCI the bigger company by revenue?
Super Micro Computer (SMCI) and Cognizant Technology Solutions (CTSH) reported similar revenue: $22.0B (fiscal year ended Jun 2025) versus $21.1B (fiscal year ended Dec 2025). CTSH's net margin was 10.6% and SMCI's 4.8%. The SEC classifies them differently (Services-Computer Programming Services; Electronic Computers); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, CTSH or SMCI?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CTSH vs SMCI comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Cognizant Technology Solutions Corporation and Super Micro Computer, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
CTSH vs SMCI compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
Members-only research
$39/mo or $249/yr · cancel future renewals anytime · sources included