Cognizant Technology Solutions Corp (CTSH) is undervalued and Infosys Ltd ADR (INFY) is undervalued.
Against our estimates of intrinsic value, INFY trades at the wider discount: a margin of safety of +76%, against +44% for CTSH.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.3% (average of 3 methods) values the shares at $105.26; the price of $58.68 is 44% below that value, and 75% of that value comes from beyond year five.
Leak Score 92/100 on 10 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $44.68; the price of $10.76 is 76% below that value.
Leak Score 100/100 on 3 of 12 signals
| Metric | CTSH | INFY |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $58.68 | $10.76 |
| Intrinsic value | $105.26 | $44.68 |
| Margin of safety | +44% | +76% |
| Leak Score | 92/100 (10/12) | 100/100 (3/12) |
| Market cap | $26.4B | $43.7B |
| Revenue growth, 5 years | 4.9% | 8.4% |
| Operating margin | 16.1% | 20.7% |
| Net margin | 10.3% | 16.4% |
| Return on equity | 14.9% | 32.3% |
| Debt to equity | 0.14 | 0.10 |
| P/E | 12.6x | 13.2x |
| Forward P/E | 9.3x | 12.9x |
| P/B | 1.8x | 4.5x |
| Dividend yield | 2.2% | 5.8% |