Technology · NYSE: ACN
Accenture: how the business works
Accenture sells consulting, technology and outsourced services to more than 9,000 businesses and governments, with revenue of $74.2 billion in FY2026 (year ended Aug 31, 2026).
By Hardik Bhandare · Checked against filings: . Editorial policy. Corrections
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Accenture plc · Dublin, Ireland
Updated for Q4 FY2026 · checked
- Revenue, FY2026
- $74.2B
- Net income, FY2026
- $8.37B
- Revenue, Q4 FY2026 (up 6% from a year earlier)
- $18.68B
- Clients, FY2026
- More than 9,000
- Employees, Aug 31, 2026
- About 814,000
The short version
Accenture in 5 points
1 · What it sells
Accenture sells consulting projects, which brought in $36.9 billion of its FY2026 revenue of $74.2 billion, and managed services that run client systems or business functions, which brought in $37.3 billion.
2 · Who pays it
By industry, Products clients paid 30% of Accenture's FY2026 revenue, Health & Public Service 20%, Financial Services 19%, Communications, Media & Technology 17% and Resources 13%.
3 · What it keeps from $100
Of every $100 that came in during FY2026, Accenture kept $11.2 as net income after $0.4 of business optimization costs, and its operating income was $15.4 per $100 of revenue.
4 · Where the operating profit comes from
The Americas earned $6.24 billion of Accenture's FY2026 operating income of $11.4 billion, EMEA $3.44 billion and Asia Pacific $1.73 billion.
5 · The one thing to watch
Accenture's net cash fell from $8.9 billion at Aug 31, 2023 to $2.7 billion at Aug 31, 2026, as it spent $7.5 billion on its own shares and $4.9 billion on acquisitions in FY2026.
Sources: From Accenture's FY2026 and FY2024 10-Ks · checked
See the full receipt and the management scorecard below
01Where the money goes · FY2026
Where does $100 of Accenture's money go?
Accenture · FY2026
Receipt for every $100
| Cost of services | $67.6 |
|---|---|
| Sales, marketing, general and administrative | $16.2 |
| Business optimization costs | $0.4 |
| Interest expense and other costs, net | $0.5 |
| Income tax | $3.8 |
| Minority owners' share | $0.2 |
| Kept as net income | $11.2 |
| Total | $100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.
How this is worked out
Cityfort calculation from the FY2026 10-K. Of every $100 that came in during FY2026 (revenue of $74,183 million plus $363 million of interest income): each line = line ÷ $74,546 million × 100.
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02The business in one line
What does Accenture do?
Businesses and governments pay Accenture to advise them and to build and run their technology; most of the money goes to its about 814,000 people, and in FY2026 $11.2 of every $100 that came in was left as net income.
- Consulting projects brought in $36.9 billion in FY2026. Managed services, ongoing work running client systems or business functions, brought in $37.3 billion.
- Revenue grew 6% in US dollars to $74.2 billion in FY2026, and net income rose from $7.68 billion to $8.37 billion.
03Who pays it
Who pays Accenture?
Products
30%
of revenue
Consumer goods, retail and travel (44% of the group), industrials (36%) and life sciences (20%).
Health & Public Service
20%
of revenue
Public service (68% of the group), including US federal agencies, and health (32%).
Financial Services
19%
of revenue
Banking and capital markets (71% of the group) and insurance (29%).
Communications, Media & Technology
17%
of revenue
Software and platforms (43% of the group), communications and media (38%) and high tech (19%).
Resources
13%
of revenue
Utilities (49% of the group), chemicals and natural resources (27%) and energy (24%).
- Products30%
- Health & Public Service20%
- Financial Services19%
- Communications, Media & Technology17%
- Resources13%
How spread out the customers are
Shares are of FY2026 revenue as stated in the 10-K, rounded, so they add to 99%. The 10-K names no client at 10% or more of revenue and gives no top-client share. It says Accenture has worked with 85% of its 200 largest commercial clients for 20 years or more. US federal work through Accenture Federal Services was 7% of revenue.
04Why it makes money
Why does Accenture make money?
Accenture sells its people's time, so profit depends on keeping them busy on client work priced above what they cost.
Pay was Accenture's biggest cost: $47.8 billion in FY2026, 64.5% of revenue (segment note). The 10-K says pricing pressure and utilization that is too high or too low can hurt results; utilization was 93%. Operating income per $100 of revenue stayed between $13.7 and $15.4 from FY2022 to FY2026.
Operating income per $100 of revenue
$15.2$15.4
FY2022 to FY2026
- Clients sign consulting projects and multi-year managed services contracts
- Accenture staffs them with its people, most of them in India, the Philippines and the US
- High utilization (93% in FY2026) spreads overhead over more billed work
- Long relationships bring repeat work: 85% of its 200 largest commercial clients have stayed 20 years or more
- Cash from operations, $12.4 billion in FY2026, pays for acquisitions, dividends and buybacks
↺ Step 5 feeds back into step 1.
05Business segments · FY2026; history FY2023 to FY2026, the years reported on today's Americas, EMEA and Asia Pacific basis (FY2022 used different regions)
Which businesses make up Accenture?
Americas
49%North and Latin America; the US alone was 44% of Accenture's revenue. Revenue grew 4% in local currency, and operating income of $6.24 billion was a 17.1% margin, after $67 million of business optimization costs.
Revenue $36.5B · Operating profit $6.2B
EMEA
36%Europe, the Middle East and Africa. Revenue grew 9% in US dollars and 4% in local currency; operating income of $3.44 billion was a 12.7% margin, after $170 million of business optimization costs.
Revenue $27.0B · Operating profit $3.4B
Asia Pacific
14%Asia Pacific market. Revenue grew 8% in local currency, the fastest of the three; operating income of $1.73 billion was a 16.2% margin, after $71 million of business optimization costs.
Revenue $10.7B · Operating profit $1.7B
How the mix changed
- Americas
- EMEA
- Asia Pacific
Revenue by segment, FY2023 to FY2026.
US$
See the numbers
06The numbers · Consolidated · US$
How has Accenture done?
Revenue
$74.2BFY2026
Revenue rose every year, from $61.6 billion in FY2022 to $74.2 billion in FY2026; Q4 FY2026 revenue of $18.68 billion was 6% above a year earlier.
US$
See the numbers
Net profit
$8.4BFY2026
Net income rose from $6.88 billion in FY2022 to $8.37 billion in FY2026, and dipped to $1.41 billion in Q4 FY2025, a quarter with $615 million of business optimization costs.
US$
See the numbers
Profit kept per $100 of revenue
$11.3FY2026
Net income per $100 of revenue stayed between $10.7 and $11.3 from FY2022 to FY2026; EBITDA here adds the cash flow line "depreciation, amortization and other", which is larger than depreciation and amortization alone.
$ of profit per $100 of revenue (net margin)
See the numbers
Free cash flow
$11.6BFY2026
Free cash flow rose from $8.8 billion in FY2022 to $11.6 billion in FY2026, 1.4 times net income, as capital spending stayed under $750 million a year and stock-based compensation was $2.1 billion.
US$ · cash from operations minus spending on plants and equipment
See the numbers
See all yearly numbers
EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Aug 31 (fiscal 2026 = Sep 1, 2025 to Aug 31, 2026)). Net profit is the share belonging to the company's owners. Total net income differs from net profit to the company's owners: Total net income includes the share of minority owners, mainly in Avanade and holders of Accenture Canada Holdings exchangeable shares.
Download Accenture's yearly and quarterly numbers (CSV, with source ids)
Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares
Sources (15)
- Form 10-K for fiscal 2024 (year ended Aug 31, 2024)
- Form 10-K for fiscal 2023 (year ended Aug 31, 2023)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Q4 and full-year fiscal 2024 earnings release (Form 8-K, Exhibit 99)
- Q1 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q2 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q3 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q1 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q1 fiscal 2026 (quarter ended Nov 30, 2025)
- Q2 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q2 fiscal 2026 (quarter ended Feb 28, 2026)
- Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q3 fiscal 2026 (quarter ended May 31, 2026)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
07Who runs it
Who runs Accenture, and did they deliver?
Julie Sweet
Chair and Chief Executive Officer · since 2019
CEO since September 2019 and chair since September 2021. Her FY2025 total pay was $29.6 million, 460 times the proxy's median employee in India after a cost-of-living adjustment (1,304 times without it).
Angie Park
Chief Financial Officer · since 2024
CFO since December 2024.
What they said, and what happened
4 delivered · 1 too early to tell
Said on Sep 25, 2025
Accenture guided FY2026 revenue growth of 2% to 5% in local currency.
DeliveredWhat happened
Revenue grew 5% in local currency, the top of the range. In June 2026 Accenture had narrowed the range to 3% to 4%.
Said on Sep 25, 2025
Accenture guided FY2026 diluted EPS of $13.19 to $13.57.
DeliveredWhat happened
Reported diluted EPS of $13.56, within the range.
Said on Sep 25, 2025
Accenture guided FY2026 free cash flowCash from operations minus spending on buildings and equipment. Learn more of $9.8 billion to $10.5 billion.
DeliveredWhat happened
Free cash flow was $11.6 billion, above the range.
Said on Sep 25, 2025
Accenture said it would return at least $9.3 billion to shareholders in FY2026.
DeliveredWhat happened
It returned $11.5 billion through share purchases and dividends.
Said on Oct 1, 2026
Accenture guided FY2027 revenue growth of 3% to 6% in local currency and diluted EPS of $14.39 to $14.81.
Too early to tellWhat happened
Fiscal 2027 ends Aug 31, 2027.
Sources (5)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Definitive proxy statement for the 2026 Annual General Meeting (DEF 14A)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
08What could go wrong
What could go wrong for Accenture?
- Demand
Clients can cut spending quickly
Accenture's 10-K says many consulting contracts last under 12 months and clients can end them with as little as 30 days' notice. Consulting was 50% of FY2026 revenue and grew 3% in local currency.
Watch Consulting revenue growth in local currency each quarter.
- Technology
AI could change what clients buy
The 10-K names technology change, including AI, as a risk that could reduce client spending on its services or change how they are priced. Accenture stopped reporting AI bookings after Q1 FY2026.
Watch Revenue growth by type of work and any AI figures in the earnings releases.
- Pricing
People costs and pricing
Pay was $47.8 billion in FY2026, 64.5% of revenue. The 10-K says pricing pressure, and utilization that is too high or too low, can hurt profitability. Utilization was 93% and voluntary attrition 13%.
Watch Operating margin, utilization and attrition in each earnings release.
- Regulation
US federal work and government investigations
Accenture Federal Services was 7% of FY2026 revenue, and the DOJ is investigating it, with possible False Claims Act penalties, suspension or debarment. The 10-K says government investigations or proceedings related to its diversity programs "have and may in the future result in financial penalties, sanctions, or restrictions on government contracting".
Watch Updates on the investigation in each 10-Q and Health & Public Service growth.
- Concentration
Reliance on technology partners
Its 18 key ecosystem partners were linked to about 65% of FY2026 revenue. The 10-K says some partners are also clients or suppliers, and changes in those relationships could hurt the business.
Watch The partner share of revenue in the next 10-K.
- Debt
More debt for buybacks and acquisitions
Long-term debt rose from $79 million at Aug 31, 2024 to $10.0 billion at Aug 31, 2026, and net cash fell to $2.7 billion. Goodwill from acquisitions was $26.8 billion, 36% of total assets.
Watch Net cash, acquisition spending and share purchases in each 10-Q.
- Currency
Currency swings
The 10-K says most revenue is in currencies other than the US dollar, while many costs are in Indian rupees and Philippine pesos. FY2026 revenue grew 6% in US dollars and 5% in local currency.
Watch The currency effect stated in each earnings release.
- Legal
Tax disputes and rule changes
The FY2026 10-K reports $2.53 billion of unrecognized tax benefits; KPMG named those related to transfer pricing a critical audit matter. It also names EU state aid investigations and US proposals to raise corporate tax as risks.
Watch Unrecognized tax benefits and the effective tax rate (25.1% in FY2026) in the next 10-K.
Sources (5)
09Both sides
What do supporters and critics point to?
What supporters point to
- Revenue rose every year from FY2022 to FY2026, to $74.2 billion, and Q4 FY2026 revenue grew 7% in local currency.
- Free cash flow was $11.6 billion in FY2026, 1.4 times net income, with capital spending of $743 million.
- FY2026 results met or beat Accenture's original ranges: revenue growth of 5% in local currency, diluted EPS of $13.56 and free cash flow of $11.6 billion.
- Accenture has worked with 85% of its 200 largest commercial clients for 20 years or more, and its 10-K names no client at 10% or more of revenue.
- It returned $11.5 billion to shareholders in FY2026, and its Jul 8, 2026 notes term sheet states ratings of Aa3 (Moody's) and AA- (S&P).
What critics point to
- Revenue grew 5% in local currency in FY2026, and Health & Public Service, which includes US federal work, grew 2%.
- Net cash fell from $8.9 billion at Aug 31, 2023 to $2.7 billion at Aug 31, 2026, as long-term debt rose to $10.0 billion.
- Business optimization costs appeared in four straight years: $1.06 billion in FY2023, $438 million, $615 million and $308 million in FY2026.
- The 10-K names AI as a risk to client spending and pricing, and Accenture stopped reporting AI bookings after Q1 FY2026.
- Goodwill reached $26.8 billion, 36% of total assets, after $4.9 billion of acquisitions in FY2026, and the DOJ is investigating Accenture Federal Services.
10What to watch next
What should you watch next at Accenture?
Next event
Q1 FY2027 results (quarter ending Nov 30, 2026)
Date not announced yet.
Q1 FY2027 against Accenture's range
Accenture said on Oct 1, 2026 that it expects Q1 FY2027 revenue of $18.95 billion to $19.60 billion, against $18.74 billion in Q1 FY2026.
Debt, buybacks and acquisitions
Long-term debt was $10.0 billion and net cash $2.7 billion at Aug 31, 2026. The Dragos deals closed in Q1 FY2027, and $6.94 billion of buyback authority was available after the board's Sep 30, 2026 approval.
Growth by type of work
Consulting grew 3% and managed services 6% in local currency in FY2026. Accenture said on Oct 1, 2026 that it expects FY2027 revenue growth of 3% to 6% in local currency.
11Key dates
What are the key dates for Accenture?
| Event | Date | Source |
|---|---|---|
| Quarterly dividend of $1.71 a share payableDeclared Sep 30, 2026 for shareholders of record on Oct 13, 2026; 5% above the previous $1.63. | Form 10-K for fiscal 2026 (year ended Aug 31, 2026); Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99) | |
| Annual general meetingDate given in the FY2026 10-K; the proxy statement is filed beforehand. | Form 10-K for fiscal 2026 (year ended Aug 31, 2026) | |
| Fiscal 2027 endsAccenture's fiscal year runs from Sep 1 to Aug 31. | Form 10-K for fiscal 2026 (year ended Aug 31, 2026) |
Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained
12Key facts
Key facts about Accenture
- What does Accenture do?
- Accenture is a consulting and technology services company incorporated in Ireland. It advises more than 9,000 businesses and governments, builds technology for them and runs their systems. Accenture had revenue of $74.2 billion in FY2026 (year ended Aug 31, 2026) and about 814,000 employees.
- How does Accenture make money?
- Accenture makes money by charging clients for its people's work. In FY2026, consulting projects brought in $36.9 billion (50% of revenue) and managed services, ongoing work running client systems or business functions, brought in $37.3 billion (50%).
- What is Accenture's business model?
- Accenture's business model is selling the time and skills of about 814,000 people. In FY2026, Accenture's pay for its people was $47.8 billion, 64.5% of revenue, utilization of its professionals was 93%, and its operating margin was 15.4%.
- Is Accenture profitable?
- Yes. Accenture's net income was $8.37 billion in FY2026 on revenue of $74.2 billion, after $308 million of business optimization costs. Accenture's net income was between $6.87 billion and $8.37 billion in each year from FY2022 to FY2026.
- What is Accenture's revenue by segment?
- Accenture reports three geographic segments. In FY2026, the Americas had revenue of $36.5 billion and operating income of $6.24 billion, EMEA (Europe, the Middle East and Africa) $27.0 billion and $3.44 billion, and Asia Pacific $10.7 billion and $1.73 billion. The US alone was 44% of Accenture's FY2026 revenue.
- How much revenue does Accenture make from consulting?
- Consulting brought in $36.9 billion, 50% of Accenture's FY2026 revenue, up 5% in US dollars and 3% in local currency. Accenture's consulting covers strategy, management and technology consulting and technology integration, usually as projects with a defined outcome.
- How much revenue does Accenture make from managed services?
- Managed services brought in $37.3 billion, 50% of Accenture's FY2026 revenue, up 8% in US dollars and 6% in local currency. Accenture's managed services are ongoing services to run client systems or business functions, mostly under multi-year contracts.
- Who are Accenture's customers?
- Accenture has more than 9,000 clients, including about three quarters of the Fortune Global 500. By industry, Products clients were 30% of Accenture's FY2026 revenue, Health & Public Service 20%, Financial Services 19%, Communications, Media & Technology 17% and Resources 13%. The FY2026 10-K names no client at 10% or more of revenue.
- Who owns Accenture?
- Accenture plc had 590.74 million Class A ordinary shares outstanding on Oct 2, 2026, each with one vote, plus 300,673 Class X shares. BlackRock reported owning 8.3% of Accenture's Class A shares at Dec 31, 2025 and Vanguard Capital Management 7.51% at Mar 31, 2026. Directors and executive officers together held less than 1% (2026 proxy statementThe yearly filing about shareholder votes, the board and executive pay. Learn more).
- What were Accenture's latest quarterly results?
- Accenture's revenue was $18.68 billion in Q4 FY2026 (quarter ended Aug 31, 2026), up 6% in US dollars and 7% in local currency from a year earlier. Net income was $1.99 billion and diluted EPS $3.29, up from $2.25 in Q4 FY2025, a quarter that carried $615 million of business optimization costs.
Sources (7)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Form 10-K for fiscal 2024 (year ended Aug 31, 2024)
- Definitive proxy statement for the 2026 Annual General Meeting (DEF 14A)
- Schedule 13G/A filed by BlackRock, Inc. (event date Dec 31, 2025)
- Schedule 13G filed by Vanguard Capital Management (event date Mar 31, 2026)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
Terms on this page
- Capital expenditures (capex)
- Debt-to-equity
- Earnings per share (EPS)
- EBITDA
- Free cash flow
- Interest coverage
- Market cap
- Net debt
- Net margin
- Operating margin
Each explains the term in plain English, with the same number from other companies on Cityfort.
Go deeper
More detail from the same filings. Open any section.
13What it sells
13What it sells
What does Accenture sell?
Consulting ($36.9B in FY2026)
Strategy, management and technology consulting and technology integration, usually a defined project with a set outcome. Many consulting contracts last under 12 months.
Managed services ($37.3B)
Ongoing, repeatable services to move, run or manage a client's systems or business functions, mostly under multi-year contracts.
Network of businesses (about 6% of revenue)
Specialist units such as Avanade, Faculty (AI), Ookla (data) and LearnVantage (education), sold alongside the main services.
Think of it like this
Accenture works like an outside IT and strategy department that clients hire by the project or by the year.
What it does
- Does: Advises clients on strategy and operations and builds their technology
- Does: Runs client systems and back-office work under multi-year managed services contracts
- Does: Works with 18 key technology partners, linked to about 65% of FY2026 revenue
What it does not do
- Does not: Is not mainly a software seller: its 10-K splits revenue by type of work into consulting and managed services only
- Does not: Does not depend on one client: the FY2026 10-K names no client at 10% or more of revenue
- Does not: Is not a US company: Accenture plc is incorporated in Ireland, though the US was 44% of FY2026 revenue
14How the money flows
14How the money flows · FY2026
How does money flow through Accenture?
Money in
- Consulting$36.9B
- Managed services$37.3B
- Interest income$363M
The company
Accenture
$74.5B came in
Money out
- Cost of services (delivering the work, mostly people)$50.4B
- Sales, marketing, general and administrative$12.1B
- Business optimization costs$308M
- Interest expense and other costs, net$397M
- Income tax$2.8B
- Noncontrolling interests (minority owners)$156M
- Net income attributable to Accenture plc$8.4B
- Clients paid Accenture $74.2 billion in FY2026: $36.9 billion for consulting and $37.3 billion for managed services.
- Delivering the work, mostly its people's time, cost $50.4 billion.
- Sales, marketing and administration took $12.1 billion and business optimization costs $308 million, leaving $11.4 billion of operating income.
- Interest earned added $363 million; interest expense and other costs took $397 million, and income tax $2.8 billion.
- Minority owners' share was $156 million, leaving $8.37 billion of net income for Accenture's shareholders.
15What it needs to run
15What it needs to run
What does Accenture need to run?
People
About 814,000 employees at Aug 31, 2026, up from 779,000 a year earlier; most work in India, the Philippines and the US. Voluntary attrition was 13% in FY2026.
Technology partners
Accenture builds much of its work on other companies' technology. Its 18 key ecosystem partners were linked to about 65% of FY2026 revenue.
Training and research
About $1.0 billion on learning (about 46 million training hours) and $1.0 billion on research and development in FY2026.
Acquisitions
Accenture spent $4.9 billion on 17 acquisitions in FY2026 to add skills and businesses. Goodwill from past deals was $26.8 billion at Aug 31, 2026.
Offices in 52 countries
Clients in more than 120 countries. Of its property and equipment, 25% is in the US and 19% in India.
16Where growth could come from
16Where growth could come from
Where could Accenture's growth come from?
Accenture said on Oct 1, 2026 that for FY2027 it expects revenue growth of 3% to 6% in local currency, an operating margin of 15.9% to 16.1% and diluted EPS of $14.39 to $14.81. For Q1 FY2027 it expects revenue of $18.95 billion to $19.60 billion. At its Oct 14, 2026 Investor Day it described an "ambition" of mid-single-digit local-currency growth in FY2027 and FY2028.
Managed services
Working+6% in local currency in FY2026
Managed services revenue reached $37.3 billion in FY2026, growing 6% in local currency against 3% for consulting. These multi-year contracts made up $43.7 billion of FY2026 new bookings, a company measure.
Status: Working, on track against what the company said.
Communications, Media & Technology
Working+10% in local currency in FY2026
This industry group grew fastest of the five in FY2026, to $12.7 billion of revenue. Financial Services grew 7% in local currency.
Status: Working, on track against what the company said.
Acquisitions
Working$4.9B on 17 acquisitions in FY2026
Accenture's Investor Day slides say acquisitions added about 1.5% to FY2026 revenue growth, after 3% in FY2024 and FY2025. It made 46 acquisitions in FY2024, with total consideration of $6.5 billion.
Status: Working, on track against what the company said.
AI and data work
WorkingAbout 110,000 AI and data practitioners
Accenture says it beat its goal to double its AI and data workforce in three years. It reported $5.9 billion of generative AI bookings in FY2025 and $2.2 billion of advanced AI bookings in Q1 FY2026, then stopped giving the figure.
Status: Working, on track against what the company said.
Security for industrial systems (Dragos)
EarlyDeals closed in Q1 FY2027
With its Q3 FY2026 results, Accenture announced an agreement to buy a majority of Dragos, which protects industrial operating technology, plus runZero and NetRise. Its Investor Day slides say the deals closed in Q1 FY2027; the filings read do not give the price.
Status: Early, too early to judge.
US federal work
Behind7% of FY2026 revenue
Accenture said in September 2025 that US federal changes would cut FY2026 growth by 1% to 1.5%. Health & Public Service, which includes federal work, grew 2% in local currency, the slowest of the five industry groups.
Status: Behind, behind the company's own plan.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
Sources (6)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Investor Day financial presentation, Oct 14, 2026 (Form 8-K, Exhibit 99)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q1 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
17The company's own measures (non-GAAP)
17The company's own measures · FY2026 (year ended Aug 31, 2026), unless stated
What do Accenture's own measures show?
Official (GAAP): Operating income (GAAP), FY2026
$11.4B
Company's own measure: Adjusted operating income, FY2026
$11.7B
Accenture leaves out $308 million of business optimization costs.
Official (GAAP): Operating margin (GAAP), FY2026
15.4%
Company's own measure: Adjusted operating margin, FY2026
15.8%
Same adjustment: business optimization costs are left out.
Official (GAAP): Operating margin (GAAP), FY2025
14.7%
Company's own measure: Adjusted operating margin, FY2025
15.6%
Accenture leaves out $615 million of business optimization costs, all booked in Q4 FY2025.
Official (GAAP): Diluted EPS (GAAP), FY2026
$13.56
Company's own measure: Adjusted diluted EPS, FY2026
$13.97
Leaves out business optimization costs, net of tax.
Official (GAAP): Remaining performance obligations, Aug 31, 2026 (about)
$37.0B
Company's own measure: New bookings, FY2026
$84.5B
Accenture's own measure of contracts signed, including renewals, extensions and acquisitions, not reduced for later cancellations; it follows no accounting standard. Accenture says much of what it counts as bookings is not in remaining performance obligationsSigned contracts with customers that have not been billed yet., the GAAP measure of contracted revenue not yet earned.
Official (GAAP): Cash flow from operations, FY2026
$12.4B
Company's own measure: Free cash flow (Accenture's definition), FY2026
$11.6B
Accenture subtracts purchases of property and equipment, the same method as the free cash flow in "The numbers".
These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.
Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out
18Financial strength and debt
18Financial strength · Aug 31, 2026
How much debt does Accenture have?
- Total debt$10.1B
- Cash and investments$12.8B
- Net cash (cash minus debt)$2.7B
- Net worth (shareholders' money)$31.6B
- Debt to equity
- 0.32×
- $ of debt for every $1 of shareholders' money
- Interest cover
- 37.6×
- how many times operating profit covers interest
- Net cash is a Cityfort calculation from the FY2026 10-K: cash and short-term investments of $12,838 million minus current and long-term debt of $10,112 million. On the same basis, net cash was $8.9 billion at Aug 31, 2023 (Cityfort calculation from the FY2024 10-K) and $6.3 billion at Aug 31, 2025.
- Long-term debt rose from $79 million at Aug 31, 2024 to $10.0 billion at Aug 31, 2026, after two $5 billion note issues in October 2024 and July 2026. Lease liabilities of $3.3 billion are not counted as debt here.
- Accenture had $8.1 billion of syndicated bank credit facilities with nothing borrowed under them at Aug 31, 2026, and $100 million of commercial paper outstanding.
- Goodwill from acquisitions was $26.8 billion, 36% of total assets of $73.6 billion.
- Interest coverage is FY2026 operating income of $11,406 million divided by interest expense of $303 million.
19Who owns it
19Who owns it · ownership as of Dec 1, 2025
Who owns Accenture?
Share classes
Holders of 5% or more
From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.
Insider trades · Form 4 data as of Nov 6, 2026
What did Accenture's insiders report trading?
Accenture's insiders made 236 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.
They reported 3 purchases (13,000 shares) and 91 sales (63,282 shares) in the open market or privately (codes P and S).
88 of the 91 sales were on forms with the Rule 10b5-1 plan box checked.
The same filings report 263 other share transactions (A: 203, F: 60).
Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.
- P
- a purchase in the open market or privately
- S
- a sale in the open market or privately
- A
- a grant, award or other acquisition from the company under Rule 16b-3
- F
- shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
Code meanings: General Instruction 8 of Form 4 (SEC).
The latest 25 of 357 transactions
Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Accenture's Form 4 filings on EDGAR.
Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades
Sources (5)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Schedule 13G/A filed by BlackRock, Inc. (event date Dec 31, 2025)
- Definitive proxy statement for the 2026 Annual General Meeting (DEF 14A)
- Schedule 13G filed by Vanguard Capital Management (event date Mar 31, 2026)
- Schedule 13G/A filed by The Vanguard Group (event date Mar 13, 2026)
20What it does with profit
20What it does with profit
What does Accenture do with its profit?
Dividend per share
$6.52FY2026
Dividend paid for each share, by financial year.
$ per share
See the numbers
Buyback · Aug 31, 2024
Spent $4.53 billion buying back and redeeming shares in FY2024.
$4.5B
Buyback · Aug 31, 2025
Spent $4.62 billion buying back and redeeming shares in FY2025.
$4.6B
Buyback · Jun 23, 2026
Added $2 billion to its FY2026 share repurchase program.
$2.0B
Buyback · Aug 31, 2026
Bought or redeemed 39.9 million shares for $7.5 billion in FY2026, including 37.5 million on the open market for $6.9 billion.
$7.5B
Buyback · Sep 30, 2026
The board approved $6.0 billion more of buyback authority, about $6.94 billion available in total.
$6.0B
Money raised · Oct 4, 2024
Issued $5 billion of senior notes due 2027 to 2034, at 3.90% to 4.50%.
$5.0B
Money raised · Jul 10, 2026
Issued $5 billion of senior notes due 2029 to 2036: one floating-rate note and fixed rates of 4.75% to 5.60%.
$5.0B
Sources (6)
- Q4 and full-year fiscal 2024 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Form 8-K, Exhibit 99: Accenture Significantly Increases Fiscal Year 2026 Share Repurchase Program by $2 Billion
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Free writing prospectus: pricing term sheet for $5 billion of senior notes (states credit ratings)
21Governance signals
21Governance signals
What do Accenture's governance filings show?
- Auditor
- KPMG LLP
- Auditor changes
- None in the period covered
- Audit qualifications
- None reported
- Related-party dealings
- The 2026 proxy reports five relatives of current or former executive officers or a director employed at Accenture, with FY2025 pay of about $126,000 to $432,000 each; the company says their pay is in line with peers.
- Credit rating
- Moody's and S&P (as stated in Accenture's Jul 8, 2026 pricing term sheet for its notes) Aa3 (Moody's) / AA- (S&P) (Stable (both, as stated in the term sheet)), Jul 8, 2026
A credit rating describes the company's ability to repay debt. It is not a rating of the share.
Flags to know about
regulatory
DOJ investigation of Accenture Federal Services
The FY2026 10-K says that, after a voluntary disclosure by Accenture Federal Services, the DOJ opened a civil and criminal investigation into whether one or more employees provided inaccurate submissions to an assessor of an AFS offering and whether the AFS service offering fully implemented required federal security controls. Accenture says it cannot estimate costs beyond amounts accrued.
other
Marriott data incident lawsuit
A proposed (putative) class action filed Jul 24, 2019 in Maryland federal court relates to a Marriott/Starwood data incident. An appeals court reversed class certification on Jun 3, 2025. Accenture says it believes the lawsuit is without merit and does not believe any losses from it will have a material effect on its results or financial condition.
disclosure
AI bookings no longer reported
Accenture reported generative AI bookings each quarter in FY2025 and advanced AI bookings of $2.2 billion in Q1 FY2026, but the Q2 to Q4 FY2026 earnings releases give no AI bookings figure.
other
Shareholder votes at the 2026 meeting
At the Jan 28, 2026 meeting, 87.73% of votes cast supported executive pay and 91.32% ratified KPMG as auditor. The chair is also the CEO; 9 of the 10 nominated directors are independent, with Arun Sarin as lead director.
other
Incorporated in Ireland
Accenture plc is an Irish company. Its 10-K says Irish law differs from US law and may give shareholders less protection.
Sources (12)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Definitive proxy statement for the 2026 Annual General Meeting (DEF 14A)
- Free writing prospectus: pricing term sheet for $5 billion of senior notes (states credit ratings)
- Q1 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q2 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q3 fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99)
- Q1 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q2 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 8-K: results of the 2026 Annual General Meeting (Items 5.02, 5.07)
22What the market paid
22What the market paid · price as of Nov 5, 2026
What did the market pay for Accenture on Nov 5, 2026?
Price as of Nov 5, 2026 (shown for education; prices change daily).
Price as of Nov 5, 2026: Accenture closed at $265.16, from Nasdaq's historical price table for ACN; the shares are listed on the NYSE. Times 590.74 million Class A shares outstanding on Oct 2, 2026, that is a market value of about $156.6 billion (Cityfort calculation from the Nov 5, 2026 closing price and the FY2026 10-K cover). P/E is price ÷ earnings per share: 19.6 on FY2026 diluted EPS of $13.56. P/B is market value ÷ Accenture shareholders' equity of $31.6 billion at Aug 31, 2026: 4.96. EV/EBITDA subtracts net cash of $2.7 billion from market value, then divides by FY2026 EBITDA of $13.8 billion: 11.2. The $1.71 quarterly dividend declared Sep 30, 2026 is $6.84 a year, or 2.58% of that price.
- Share price
- $265.16
- Market value (market cap)
- $156.6B
- P/E
- 19.6×
- P/B
- 5×
- EV/EBITDA
- 11.2×
More price-based ratios · as of Nov 5, 2026
Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.
Price to sales (P/S)
2.1×
$156.6B market value ÷ $74.2B revenue (four quarters to Aug 31, 2026) = 2.1×
Cityfort calculation from the Nov 5, 2026 closing price and the Q1 FY2026 to Q4 FY2026 10-Ks and 10-Qs. Source: ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16); Form 10-K for fiscal 2026 (year ended Aug 31, 2026); Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99) and 6 more
How price ratios workDividend yield
2.46%
$6.52 dividends per share (FY2026) ÷ $265.16 share price = 2.46%
Cityfort calculation from the FY2026 10-K and the Nov 5, 2026 closing price. Source: ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16); Form 10-K for fiscal 2026 (year ended Aug 31, 2026); Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
What dividend yield meansFree cash flow yield
7.4%
$11.6B free cash flow (FY2026) ÷ $156.6B market value = 7.4%
Cityfort calculation from the FY2026 10-K and the Nov 5, 2026 closing price. Source: ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16); Form 10-K for fiscal 2026 (year ended Aug 31, 2026); Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
What free cash flow means
Shares used for the market value: 591.04 million ($265.16 × 591.04 million shares ≈ $156.6B). Source: Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
Source: ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16); Form 10-K for fiscal 2026 (year ended Aug 31, 2026); Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
Sources (9)
- ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Q1 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q1 fiscal 2026 (quarter ended Nov 30, 2025)
- Q2 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q2 fiscal 2026 (quarter ended Feb 28, 2026)
- Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q for Q3 fiscal 2026 (quarter ended May 31, 2026)
23How it got here
23How it got here
How did Accenture get here?
2001
Milestone
Accenture Ltd registers shares with the SEC
Accenture Ltd filed a Form S-1 registration statement with the SEC on Apr 19, 2001. Its board has run an open-market share buyback program since August 2001.
2019
Milestone
Julie Sweet becomes CEO
Julie Sweet became CEO in September 2019 and also chair in September 2021.
2022
Crisis
Russia business disposed of
Accenture recorded a $96 million loss on disposing of its Russia business in FY2022.
2023
Crisis
First business optimization program
A $1.5 billion program, mostly severance, cost $1.06 billion in FY2023 and $438 million in FY2024.
2024
Milestone
46 acquisitions, then $5 billion of notes
Accenture made 46 acquisitions in FY2024, with total consideration of $6.5 billion, and issued $5 billion of notes in October 2024.
2025
Business-model change
Services combined into Reinvention Services
On Jun 20, 2025 Accenture said it would combine its services into one unit from Sep 1, 2025. A second program cost $615 million in Q4 FY2025 and $308 million in Q1 FY2026, including impairments tied to divesting two Americas acquisitions.
2026
Milestone
Bigger buybacks, more debt
Accenture added $2 billion to its FY2026 buyback in June 2026 and issued another $5 billion of notes in July 2026. FY2026 share purchases reached $7.5 billion.
Sources (6)
- Form 10-K for fiscal 2026 (year ended Aug 31, 2026)
- Form 10-K for fiscal 2023 (year ended Aug 31, 2023)
- Form 10-K for fiscal 2024 (year ended Aug 31, 2024)
- Investor Day financial presentation, Oct 14, 2026 (Form 8-K, Exhibit 99)
- Form 8-K, Exhibit 99: Accenture Changes Growth Model to Reinvent Itself for the Age of AI
- Form 8-K, Exhibit 99: Accenture Significantly Increases Fiscal Year 2026 Share Repurchase Program by $2 Billion
24Sources and changes
Where every number on this page comes from
Sources (27 documents)
- S1Form 10-K for fiscal 2026 (year ended Aug 31, 2026) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 16, 2026
- S2Form 10-K for fiscal 2025 (year ended Aug 31, 2025) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 10, 2025
- S3Form 10-K for fiscal 2024 (year ended Aug 31, 2024) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 10, 2024
- S4Form 10-K for fiscal 2023 (year ended Aug 31, 2023) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 12, 2023
- S5Form 10-Q for Q1 fiscal 2026 (quarter ended Nov 30, 2025) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Dec 18, 2025
- S6Form 10-Q for Q2 fiscal 2026 (quarter ended Feb 28, 2026) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Mar 19, 2026
- S7Form 10-Q for Q3 fiscal 2026 (quarter ended May 31, 2026) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jun 18, 2026
- S8Q4 and full-year fiscal 2026 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 1, 2026
- S9Q3 fiscal 2026 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jun 18, 2026
- S10Q2 fiscal 2026 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Mar 19, 2026
- S11Q1 fiscal 2026 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Dec 18, 2025
- S12Q4 and full-year fiscal 2025 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Sep 25, 2025
- S13Q3 fiscal 2025 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jun 20, 2025
- S14Q2 fiscal 2025 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Mar 20, 2025
- S15Q1 fiscal 2025 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Dec 19, 2024
- S16Q4 and full-year fiscal 2024 earnings release (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Sep 26, 2024
- S17Definitive proxy statement for the 2026 Annual General Meeting (DEF 14A) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Dec 12, 2025
- S18Form 8-K: results of the 2026 Annual General Meeting (Items 5.02, 5.07) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jan 28, 2026
- S19Investor Day financial presentation, Oct 14, 2026 (Form 8-K, Exhibit 99) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Oct 14, 2026
- S20Form 8-K, Exhibit 99: Accenture Significantly Increases Fiscal Year 2026 Share Repurchase Program by $2 Billion · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jun 23, 2026
- S21Free writing prospectus: pricing term sheet for $5 billion of senior notes (states credit ratings) · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jul 8, 2026
- S22Form 8-K, Exhibit 99: Accenture Changes Growth Model to Reinvent Itself for the Age of AI · Accenture plc (SEC EDGAR) · Tier 1: company or exchange filing · Jun 20, 2025
- S23Schedule 13G/A filed by BlackRock, Inc. (event date Dec 31, 2025) · U.S. Securities and Exchange Commission (EDGAR) · Tier 1: company or exchange filing · Jan 21, 2026
- S24Schedule 13G/A filed by The Vanguard Group (event date Mar 13, 2026) · U.S. Securities and Exchange Commission (EDGAR) · Tier 1: company or exchange filing · Mar 26, 2026
- S25Schedule 13G filed by Vanguard Capital Management (event date Mar 31, 2026) · U.S. Securities and Exchange Commission (EDGAR) · Tier 1: company or exchange filing · Apr 29, 2026
- S26ACN historical daily prices, Nasdaq's table for an NYSE-listed share (close of Nov 5, 2026: $265.16) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
- S27EDGAR filing index, Accenture plc, CIK 0001467373 · U.S. Securities and Exchange Commission · Tier 1: company or exchange filing · Nov 6, 2026
Changes to this page (v1 · Nov 6, 2026)
- v1 · Nov 6, 2026First version. (first version)
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