Conduent Inc. (CNDT) intrinsic value & 10-year financials
Conduent Inc. (CNDT) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 7.9% a year to $3.0B, with an average return on invested capital of -10.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.39
- Market cap
- $220.2M
- Revenue (FY2025)
- $3.0B
- Revenue growth (10-yr CAGR)
- -7.9%
- ROIC (10-yr avg)
- -10.5%
- Free cash flow (FY2025)
- -$132.0M
CNDT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.0B | -$170.0M | -$1.14 | -$132.0M | — | -15.4% |
| FY2024 | $3.4B | $426.0M | $2.23 | -$78.0M | — | 34.5% |
| FY2023 | $3.7B | -$296.0M | -$1.41 | $38.0M | — | -19.8% |
| FY2022 | $3.9B | -$182.0M | -$0.89 | $52.0M | — | -9.8% |
| FY2021 | $4.1B | -$28.0M | -$0.18 | $163.0M | — | -1.3% |
| FY2020 | $4.2B | -$118.0M | -$0.61 | $85.0M | — | -5.3% |
| FY2019 | $4.5B | -$1.9B | -$9.29 | -$16.0M | — | -61.9% |
| FY2018 | $5.4B | -$416.0M | -$2.06 | $104.0M | — | -9.4% |
| FY2017 | $6.0B | $181.0M | $0.83 | $204.0M | — | 3.7% |
| FY2016 | $6.4B | -$983.0M | -$4.85 | -$41.0M | — | -20.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CONDUENT Inc is facing top-line stagnation, with revenue contracting over the decade.
CONDUENT Inc has historically struggled to out-earn its cost of capital, averaging just -10.5% ROIC.
Over the decade, CONDUENT Inc shows that management has aggressively returned capital to shareholders by retiring 21.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, CONDUENT Inc is modeled at -7.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-14.20 per share.