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In this Form 10-K, unless the content otherwise dictates, "Conduent", the "Company", "we" or "our" mean Conduent Incorporated and its consolidated subsidiaries. Our Business We deliver digital business solutions and services spanning the commercial, government and transportation spectrum creating valuable outcomes for our clients and the millions of people who count on them.
The business is unprofitable at the operating level (-5.26% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 9.4% YoY. Margins deteriorated 20.3pp alongside, both lines moving the wrong way.
ROIC dropped from 22.20% to -7.73%, capital efficiency is deteriorating. Negative free cash flow of -$132M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$3.01B
▼ -9.4% YoY
Net Income (TTM)
-$152M
▼ -139.9% YoY
Op. Margin
-4.35%
▼ -20.3pp YoY
ROIC
-9.37%
▼ -29.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$77M
▼ -69.2% YoY
Op. Cash Flow (TTM)
-$23M
▼ -46.0% YoY
Net Debt
-$1M
Net Cash Position
Cash & Equiv.
$228M
5Y CAGR: -6.1%
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