On this page of StockholderLetter.com we present the latest annual shareholder letter from Accenture plc — ticker symbol ACN. Reading current and past ACN letters to shareholders can bring important insights into the investment thesis.
Value from every angle Annual Report Fiscal 2024
The success of our strategy to be the reinvention partner of our clients is reflected in our fiscal 2024 results, including record bookings, earnings growth, margin expansion and significant cash to shareholders, allowing us to deliver 360 value for all our stakeholders. Revenues 64.9B New bookings 81.2B An increase of 2% in local currency and 1% in U.S. dollars A 14% increase in local currency and 13% increase in U.S. dollars, with a book-to-bill of 1.3 Diluted earnings per share (Adjusted) Operating margin (Adjusted) 11.95 15.5% A 2% increase, after adjusting FY24 GAAP EPS of $11.44 to exclude business optimization costs of $0.51 per share and FY23 GAAP EPS of $10.77 to exclude business optimization costs of $1.28 per share and an investment gain of $0.38 per share. On a GAAP basis, FY24 EPS increased 6% An increase of 10 basis points, after adjusting FY24 GAAP operating margin of 14.8% and FY23 GAAP operating margin of 13.7% to exclude business optimization costs of 70 bps and 170 bps, respectively. On a GAAP basis FY24 operating margin increased 110 bps Free cash flow Cash returned to shareholders 8.6B 7.8B Defined as operating cash flow of $9.1 billion net of property and equipment additions of $517 million Defined as share repurchases of $4.5 billion plus cash dividends of $3.2 billion For 12 months ended August 31, 2024
From our Chair and CEO Fiscal year 2024 demonstrated the resilience and agility of our business model, the power of our scale and reinvention in action. The year was marked by a challenging market environment, and we rapidly shifted to meet our clients need for large reinventions using technology, data, AI and new ways of working that utilize the scale and depth of our expertise and ecosystem relationships. 1
Our clients turn to us for our unique combination of services across Strategy & Consulting, Technology, Operations, Industry X and Song. Our strategists and deep industry, functional, customer and technology consultants work hand-in-hand with our clients and across services to shape and deliver these reinventions. Our managed services, our ability to harness AI to close talent gaps and our strong expertise across talent, change, HR and organizations differentiate all our services. At the same time, we saw AI emerge as the new digital. Like digital, AI is both a technology and a new way of working, and its full value will only come from strategies built on both productivity and growth. And we believe it will be used in every part of the enterprise. We also believe the introduction of generative AI signifies a transformative era that is set to drive growth for us and our clients. 2 As part of this, data will continue to be essential to building the digital core. We expect that the work to prepare enterprise data, which is the fuel for AI, will be an increasing part of our growth. To accomplish reinvention and take advantage of AI, businesses need to focus on talent, which includes accessing the best people at the right time, place and cost; being a talent creator to keep people market-relevant; and unlocking the potential of talent. We see talent as a top C-suite agenda item. Our launch of LearnVantage, which provides comprehensive technology learning and training services, helps our clients reskill and upskill their people so they can be a talent creator.
"Our successful strategy to lead reinvention for clients, continued investments in our business, and the talent, dedication and commitment of our 774,000 people allowed us to achieve profitable growth and create 360 value for all our stakeholders." Julie Sweet 3
 • shareholder letter icon 12/16/2024 Letter Continued (Full PDF)
 • stockholder letter icon 12/13/2023 ACN Stockholder Letter
 • stockholder letter icon More "Business Services & Equipment" Category Stockholder Letters
 • Benford's Law Stocks icon ACN Benford's Law Stock Score = 85


ACN Shareholder/Stockholder Letter Transcript:

Value from
every angle
Annual Report
Fiscal 2024

The success of our strategy to be the reinvention partner of our
clients is reflected in our fiscal 2024 results, including record
bookings, earnings growth, margin expansion and significant
cash to shareholders, allowing us to deliver 360   value for all
our stakeholders.
Revenues
64.9B
New bookings
81.2B


An increase of 2% in
local currency and
1% in U.S. dollars
A 14% increase in local currency
and 13% increase in U.S. dollars,
with a book-to-bill of 1.3
Diluted earnings per share (Adjusted)
Operating margin (Adjusted)

11.95
15.5%
A 2% increase, after adjusting
FY24 GAAP EPS of $11.44 to exclude
business optimization costs of $0.51
per share and FY23 GAAP EPS of $10.77
to exclude business optimization costs
of $1.28 per share and an investment
gain of $0.38 per share. On a GAAP
basis, FY24 EPS increased 6%
An increase of 10 basis points,
after adjusting FY24 GAAP operating
margin of 14.8% and FY23 GAAP
operating margin of 13.7% to exclude
business optimization costs of 70
bps and 170 bps, respectively. On a
GAAP basis FY24 operating margin
increased 110 bps
Free cash flow
Cash returned to shareholders
8.6B
7.8B


Defined as operating cash flow of
$9.1 billion net of property and
equipment additions of $517 million
Defined as share repurchases of
$4.5 billion plus cash dividends
of $3.2 billion
For 12 months ended August 31, 2024

From our Chair
and CEO
Fiscal year 2024 demonstrated the resilience and
agility of our business model, the power of our scale
and reinvention in action.
The year was marked by a challenging market environment,
and we rapidly shifted to meet our clients    need for large
reinventions   using technology, data, AI and new ways of
working   that utilize the scale and depth of our expertise
and ecosystem relationships.
1

Our clients turn to us for
our unique combination
of services across Strategy
& Consulting, Technology,
Operations, Industry X
and Song.
Our strategists and deep industry,
functional, customer and technology
consultants work hand-in-hand with our
clients and across services to shape and
deliver these reinventions. Our managed
services, our ability to harness AI to close
talent gaps and our strong expertise across
talent, change, HR and organizations
differentiate all our services.
At the same time, we saw AI emerge as
the new digital. Like digital, AI is both a
technology and a new way of working, and
its full value will only come from strategies
built on both productivity and growth.
And we believe it will be used in every
part of the enterprise. We also believe
the introduction of generative AI signifies
a transformative era that is set to drive
growth for us and our clients.
2
As part of this, data will continue to be
essential to building the digital core. We
expect that the work to prepare enterprise
data, which is the fuel for AI, will be an
increasing part of our growth.
To accomplish reinvention and take
advantage of AI, businesses need to focus
on talent, which includes accessing the
best people at the right time, place and
cost; being a talent creator to keep people
market-relevant; and unlocking the potential
of talent. We see talent as a top C-suite
agenda item.
Our launch of LearnVantage, which provides
comprehensive technology learning and
training services, helps our clients reskill
and upskill their people so they can be a
talent creator.

"Our successful strategy to lead
reinvention for clients, continued
investments in our business, and the
talent, dedication and commitment
of our 774,000 people allowed us to
achieve profitable growth and create
360   value for all our stakeholders."
Julie Sweet
3



shareholder letter icon 12/16/2024 Letter Continued (Full PDF)
 

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