Summary
Accenture plc (ACN) reported revenues of $64.9 billion for fiscal year 2024, a modest 1% increase in U.S. dollars and 2% in local currency, reflecting a challenging macroeconomic environment that led clients to prioritize large-scale transformations over shorter-term projects. Despite revenue headwinds, the company demonstrated improved profitability with an operating margin of 14.8% (15.5% adjusted), up from 13.7% in the prior year. This improvement was driven by disciplined cost management, lower business optimization costs, and favorable foreign currency impacts in some regions. New bookings showed strong momentum, increasing 13% to $81.2 billion, with managed services bookings up significantly, indicating future revenue potential. The company returned $7.8 billion to shareholders through share repurchases and dividends, underscoring its commitment to capital return. Accenture continues to invest heavily in talent development, R&D, and strategic acquisitions, with $1.1 billion spent on learning, $1.2 billion on R&D, and $6.6 billion across 46 acquisitions, positioning itself for future growth, particularly with the strategic focus on AI and digital transformation.
Financial Highlights
56 data points| Revenue | $64.90B |
| Cost of Revenue | $43.73B |
| Gross Profit | $21.16B |
| R&D Expenses | $1.15B |
| Operating Expenses | $55.30B |
| Operating Income | $9.60B |
| Interest Expense | $58.97M |
| Net Income | $7.26B |
| EPS (Basic) | $11.57 |
| EPS (Diluted) | $11.44 |
| Shares Outstanding (Basic) | 627.85M |
| Shares Outstanding (Diluted) | 635.94M |
Key Highlights
- 1Revenue for fiscal year 2024 reached $64.9 billion, a 1% increase in U.S. dollars and 2% in local currency, indicating moderate top-line growth amidst economic uncertainty.
- 2New bookings surged by 13% year-over-year to $81.2 billion, signaling strong future demand, particularly in managed services which saw a 23% increase in U.S. dollar bookings.
- 3Operating margin improved to 14.8% (15.5% adjusted) from 13.7% in fiscal 2023, demonstrating enhanced profitability through cost management and operational efficiencies.
- 4Accenture invested significantly in its future, with $6.6 billion allocated to 46 strategic acquisitions, $1.2 billion in research and development, and $1.1 billion in learning and professional development.
- 5The company returned substantial capital to shareholders, amounting to $7.8 billion through $4.5 billion in share repurchases and $3.2 billion in dividends.
- 6While consulting revenues saw a slight decline of 1% in local currency, managed services revenues grew by 5% in local currency, reflecting a shift in client priorities towards ongoing operational support and transformation.
- 7The company is actively managing its workforce, with utilization remaining strong at 92% and an employee base of approximately 774,000. Annualized voluntary attrition remained consistent at 13%.