01—Abstract
Summary
Summary of the 10-K filed October 12, 2022. Cited figures are marked; the original filing is the authoritative source.
Accenture plc reported strong performance for the fiscal year ended August 31, 2022, with revenues growing 22% in U.S. dollars and 26% in local currency to $61.6 billiona.
This growth was driven by robust demand across all geographic markets and service lines, particularly in digital transformation initiatives such as cloud adoption, security, and AI. The company also saw significant new bookings, reaching $71.7 billionb, indicating continued client engagement and future revenue potential. While the company experienced elevated voluntary attrition (19%) due to a competitive labor market, it significantly invested in its workforce, with $1.1 billion allocated to learning and professional development.
Accenture also strategically invested $3.4 billionc in 38 acquisitions to scale its business and acquire new capabilities. The company maintained a strong operational margin of 15.2% and returned $6.6 billion to shareholders through share purchases and dividends, demonstrating a commitment to shareholder value alongside strategic investments in growth and talent.
02—Key points
Key Highlights
- Revenue grew 22% year-over-year to $61.6 billion in FY2022, with strong 26% growth in local currency, indicating broad-based demand.
- New bookings reached $71.7 billion, a 21% increase in U.S. dollars, signaling robust future revenue potential.
- Operating margin remained strong at 15.2%, showing effective cost management despite increased labor costs and inflationary pressures.
- Significant investments were made in strategic growth initiatives, with $3.4 billion deployed in 38 acquisitions and $1.1 billion in research and development.
- The company returned $6.6 billion to shareholders through $4.1 billion in share repurchases and $2.5 billion in dividends.
- Workforce grew to over 721,000 employees, with a substantial $1.1 billion invested in learning and professional development to retain and upskill talent.
- Accenture is actively pursuing environmental sustainability goals, aiming for net-zero emissions by 2025 and achieving over 85% renewable electricity usage in fiscal year 2022.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2022, Accenture plc kept $0.11.
- Revenue$61.59B100.0%
- Cost of revenue−$41.89B68.0%
- Gross profit$19.70B32.0%
- Operating costs−$10.33B16.8%
- Operating income$9.37B15.2%
- Interest, other & tax−$2.49B4.0%
- Net income$6.88B11.2%
Where FY2022 revenue went
$61.59B- Cost of revenue: $41.89B, 68% of revenue
- Other operating costs: $9.21B, 15% of revenue
- Net income: $6.88B, 11% of revenue
- R&D: $1.12B, 1.8% of revenue
- Interest, other & tax: $2.49B, 4.0% of revenue
Kept 11% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2022filed October 12, 2022Financial Statements
FY2022 against FY2021
| Line item | FY2022FY2021 | Change |
|---|---|---|
| Revenue | $61.59B$50.53B | +21.9% |
| Cost of Revenue | $41.89B$34.17B | +22.6% |
| Gross Profit | $19.70B$16.36B | +20.4% |
| R&D Expenses | $1.12B$1.12B | +0.4% |
| Operating Expenses | $52.23B$42.91B | +21.7% |
| Operating Income | $9.37B$7.62B | +22.9% |
| Interest Expense | $47.32M$59.49M | −20.5% |
| Net Income | $6.88B$5.91B | +16.4% |
| EPS (Basic) | $10.87$9.31 | +16.8% |
| EPS (Diluted) | $10.71$9.16 | +16.9% |
| Shares Outstanding (Basic) | 632.76M634.75M | −0.3% |
| Shares Outstanding (Diluted) | 642.84M645.91M | −0.5% |
05—Questions
Frequently Asked Questions
What was Accenture's revenue performance in FY2022?
Accenture reported strong revenue growth of 22% in U.S. dollars and 26% in local currency, reaching $61.6 billion for the fiscal year ended August 31, 2022. This growth was driven by high demand for digital transformation services across all its geographic markets and service lines.
How is Accenture managing its workforce and talent in a competitive market?
Accenture's workforce grew to over 721,000 employees. To address a competitive labor market and elevated voluntary attrition (19% in FY2022), the company invested $1.1 billion in learning and professional development. They are also balancing workforce size with client demand and adjusting compensation strategies.
What are Accenture's key investments and growth strategies?
Accenture made significant investments in FY2022, including $3.4 billion in 38 strategic acquisitions to expand capabilities and scale in high-growth areas, and $1.1 billion in research and development. Their growth strategy focuses on helping clients navigate key forces of change like total enterprise reinvention, talent, sustainability, the metaverse continuum, and the ongoing technology revolution.
How is Accenture addressing environmental sustainability?
Accenture has a strong commitment to sustainability with goals to achieve net-zero emissions by 2025 and 100% renewable electricity by 2023. In fiscal year 2022, they exceeded 85% renewable electricity usage and are also focused on waste reduction and water risk planning.
06—Continue