Gross margins have trended downward from a peak of 35.2% in 2024Q4 to 29.1% in 2026Q1, indicating potential pricing pressure or rising labor costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 2.75B | 2.68B | 438.96M | 2.2B | 2.27B | 259.17M | 956.52M | 677.13M | 588.33M | 452.36M | 378.16M | 329.64M | 181.29M | 167.14M |
| Revenue Growth % | 84.45% | 510.95% | -80.02% | -3.18% | 775.44% | -72.91% | 41.26% | 15.09% | 30.06% | 19.62% | 14.72% | 81.83% | 8.47% | - |
| Cost of Goods Sold | 1.89B | 1.82B | 288.71M | 1.46B | 1.48B | 167.9M | 600.87M | 448.98M | 378.04M | 314.25M | 276.89M | 243.55M | 143.9M | 133.06M |
| COGS % of Revenue | - | 68.02% | 65.77% | 66.62% | 65.15% | 64.78% | 62.82% | 66.31% | 64.26% | 69.47% | 73.22% | 73.89% | 79.38% | 79.61% |
| Gross Profit | 865.89M | 857.51M | 150.25M | 733.39M | 790.71M | 91.27M | 355.65M | 228.15M | 210.29M | 138.11M | 101.27M | 86.08M | 37.39M | 34.08M |
| Gross Margin % | 31.43% | 31.98% | 34.23% | 33.38% | 34.85% | 35.22% | 37.18% | 33.69% | 35.74% | 30.53% | 26.78% | 26.11% | 20.62% | 20.39% |
| Gross Profit Growth % | - | 470.74% | -79.51% | -7.25% | 766.38% | -74.34% | 55.88% | 8.49% | 52.27% | 36.37% | 17.64% | 130.24% | 9.71% | - |
| Operating Expenses | 534.71M | 518.11M | 92.58M | 457.26M | 498.12M | 47.38M | 147.41M | 136.46M | 117.56M | 94.34M | 76.09M | 50.13M | 31.66M | 30.96M |
| OpEx % of Revenue | - | 19.32% | 21.09% | 20.82% | 21.95% | 18.28% | 15.41% | 20.15% | 19.98% | 20.86% | 20.12% | 15.21% | 17.47% | 18.52% |
| Selling, General & Admin | 540.01M | 518.11M | 92.58M | 457.26M | 498.12M | 43.3M | 146.25M | 126M | 103.34M | 79.97M | 71.42M | 31.41M | 32.75M | 29.13M |
| SG&A % of Revenue | - | 19.32% | 21.09% | 20.82% | 21.95% | 16.71% | 15.29% | 18.61% | 17.57% | 17.68% | 18.89% | 9.53% | 18.06% | 17.43% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 718 | 3.46M | 12.09M | 16.75M | 15.13M | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | 0% | 0.36% | 1.79% | 2.85% | 3.34% | - | - | - | - |
| Other Operating Expenses | -2M | 0 | 0 | 0 | 0 | 4.07M | -2.31M | -1.64M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 331.18M | 339.4M | 57.67M | 276.13M | 292.6M | 43.89M | 208.24M | 91.7M | 92.74M | 43.77M | 25.18M | 35.96M | 5.39M | 3.6M |
| Operating Margin % | 12.02% | 12.66% | 13.14% | 12.57% | 12.9% | 16.93% | 21.77% | 13.54% | 15.76% | 9.68% | 6.66% | 10.91% | 2.97% | 2.15% |
| Operating Income Growth % | - | 488.53% | -79.11% | -5.63% | 566.67% | -78.92% | 127.1% | -1.12% | 111.89% | 73.78% | -29.96% | 566.98% | 49.71% | - |
| EBITDA | 438.01M | 442.57M | 74.56M | 367.84M | 390.84M | 52.57M | 238.13M | 117.28M | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA Margin % | 15.9% | 16.5% | 16.99% | 16.74% | 17.23% | 20.28% | 24.9% | 17.32% | - | - | - | - | - | - |
| EBITDA Growth % | 73.07% | 493.6% | -79.73% | -5.88% | 643.52% | -77.93% | 103.05% | - | - | - | - | - | - | - |
| D&A (Non-Cash Add-back) | 106.83M | 103.17M | 16.89M | 91.71M | 98.24M | 8.68M | 29.88M | 25.58M | -92.74M | -43.77M | -25.18M | -35.96M | -5.39M | -3.6M |
| EBIT | 369.66M | 381.33M | 58.44M | 292.18M | 293.79M | 43.08M | 203.09M | 93.85M | 0 | 0 | 25.18M | 0 | 0 | 3.6M |
| Net Interest Income | -11.57M | -10.25M | -64.44M | -85.85M | -15.58M | -5.32M | -1.71M | -1.87M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 2.65M | 4.33M | 26.24M | -2.31M | 516K | 17.76K | 542.05K | 612.21K | 5.58M | 321K | 215K | 3.76M | 909K | 394K |
| Interest Expense | 14.22M | 14.58M | 90.67M | 83.54M | 16.09M | 5.33M | 2.25M | 2.48M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -31.88M | -32.02M | -13.9M | -71.17M | -84.91M | -6.14M | -15.45M | -5.91M | -5.58M | -321K | 215K | 3.76M | 1.24M | -85K |
| Pretax Income | 299.3M | 307.39M | 43.77M | 204.96M | 207.69M | 37.75M | 192.79M | 85.79M | 87.17M | 43.45M | 25.4M | 39.72M | 6.63M | 3.52M |
| Pretax Margin % | 10.87% | 11.46% | 9.97% | 9.33% | 9.15% | 14.56% | 20.16% | 12.67% | 14.82% | 9.6% | 6.72% | 12.05% | 3.66% | 2.1% |
| Income Tax | 80.4M | 84.91M | 14.28M | 75.38M | 107.61M | 15.15M | 65.14M | 29.22M | 25.9M | 14.38M | 8.1M | 11.29M | 2.1M | 939K |
| Effective Tax Rate % | 26.86% | 27.62% | 32.61% | 36.78% | 51.81% | 40.13% | 33.79% | 34.06% | 29.71% | 33.09% | 31.88% | 28.43% | 31.62% | 26.71% |
| Net Income | 218.9M | 222.48M | 29.49M | 129.58M | 100.08M | 22.6M | 127.65M | 56.53M | 59.41M | 28.93M | 17.06M | 28.06M | 4.57M | 2.67M |
| Net Margin % | 7.95% | 8.3% | 6.72% | 5.9% | 4.41% | 8.72% | 13.35% | 8.35% | 10.1% | 6.4% | 4.51% | 8.51% | 2.52% | 1.6% |
| Net Income Growth % | 137.56% | 654.31% | -77.24% | 29.48% | 342.81% | -82.3% | 125.8% | -4.84% | 105.36% | 69.61% | -39.22% | 514.14% | 71.25% | - |
| Net Income (Continuing) | 187.45M | 40.62M | 29.49M | 129.58M | 100.08M | 22.6M | 127.65M | 56.57M | 59.41M | 28.93M | 17.06M | 28.06M | 4.57M | 2.67M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.04M | 1.54M | 1.04M | 790K | 285K | 252K |
| EPS (Diluted) | 1.68 | 0.30 | 1.18 | 0.95 | 0.93 | 1.01 | 0.97 | 0.43 | 0.46 | 0.23 | 0.14 | 0.24 | 0.04 | 0.02 |
| EPS Growth % | -43.05% | -74.58% | 24.21% | 2.15% | -7.92% | 4.12% | 125.58% | -6.52% | 100% | 64.29% | -41.67% | 538.3% | 81.64% | - |
| EPS (Basic) | - | 0.31 | 1.18 | 0.95 | 0.95 | 1.03 | 0.97 | 0.43 | 0.46 | 0.23 | 0.14 | 0.24 | 0.04 | 0.02 |
| Diluted Shares Outstanding | 130.4M | 133.45M | 137.1M | 139.15M | 134.77M | 125.16M | 132.2M | 132.2M | 128.13M | 124.06M | 119.94M | 118.4M | 121.52M | 128.89M |
| Basic Shares Outstanding | 129.61M | 132.31M | 136.58M | 139.55M | 133.19M | 121.78M | 132.2M | 132.2M | 128.13M | 124.06M | 119.94M | 118.4M | 121.52M | 128.89M |
| Dividend Payout Ratio | - | - | - | - | - | 108.51% | 24.27% | 19.16% | - | - | - | - | - | - |
Extreme Revenue Reporting Volatility
According to the provided quarterly income statements, CI&T's revenue growth has exhibited extreme volatility, oscillating between sharp contractions and significant expansions, with the most recent 2026Q1 revenue of $704.6M representing an 8.8% year-over-year increase that contrasts sharply with earlier periods of massive, unexplained revenue fluctuations.
The dramatic shifts in quarterly revenue figures suggest that the company may be undergoing significant structural changes, such as large-scale M&A activity or shifts in reporting currency, rather than organic market share capture. Investors should exercise caution, as the lack of consistent growth trends makes it difficult to forecast future performance or determine the underlying demand for the company's digital engineering services.
As reported in the financial data, CI&T's gross margin has trended downward from a peak of 35.2% in 2024Q4 to 29.1% in 2026Q1, suggesting that the firm may be facing increased pricing pressure or rising labor costs within its primary delivery hubs.
This margin erosion appears to indicate that the company's 'Lean' methodology may be struggling to offset broader industry wage inflation or competitive bidding environments. If these gross margin levels continue to contract, the company's ability to maintain its current operating profitability will likely be severely compromised without a significant pivot in service pricing or delivery efficiency.
Based on the income statement analysis, CI&T's operating margin has fluctuated between 9.5% and 14.1% over the last ten quarters, indicating that the company has yet to demonstrate a clear ability to scale its operating income faster than its gross profit growth.
The inconsistency in operating margins suggests that SG&A expenses are not scaling efficiently with revenue, potentially due to the costs associated with integrating new business or maintaining a global sales presence. Analysts should monitor whether management can achieve better operating leverage as the company matures, or if overhead costs will continue to act as a drag on bottom-line performance.
As evidenced by the provided figures, CI&T's net income has shown extreme quarterly variance, with EPS swinging from a loss of $0.03 in 2023Q4 to a high of $0.45 in 2024Q4, reflecting significant non-operating noise and potential accounting adjustments that complicate the assessment of core profitability.
The erratic nature of the reported net income suggests that investors should focus on normalized earnings metrics rather than headline GAAP figures, which appear heavily influenced by one-time items or accounting volatility. The significant reduction in stock-based compensation in recent quarters warrants further investigation to determine if this reflects a change in compensation strategy or a temporary pause in equity-based incentives.
Based on the reported figures, CI&T maintains a cash position of only $47.7M against a revenue scale of over $2.6B, which appears to be an exceptionally thin liquidity buffer that may leave the company vulnerable to working capital shocks or unexpected operational disruptions.
This low cash-to-revenue ratio suggests that the company's aggressive growth strategy may be straining its financial flexibility, potentially limiting its ability to invest in future innovation or weather a downturn in enterprise spending. Investors should be wary of the possibility that the company may need to seek external financing, which could dilute existing shareholders or increase the firm's debt burden.
Quick answers to the most common questions about buying CINT stock.
For fiscal year 2025, CI&T Inc (CINT) reported total revenue of $2.68B. This represents a 1504.6% increase compared to $167.1M in 2012.
CI&T Inc (CINT) is profitable, generating $222.5M in net income for the fiscal year ending 2025 with a net profit margin of 8.3%.
CI&T Inc (CINT) reported an operating income of $339.4M, resulting in an operating profit margin of 12.7%. This margin reflects the operational efficiency of the business before interest and taxes.
CI&T Inc (CINT) generated $857.5M in gross profit for the year, representing a gross profit margin of 32.0%. This demonstrates the company's core pricing power and production efficiency.