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.

 •  12/12/2025 Letter Continued (Full PDF)
 •  12/13/2023 ACN Stockholder Letter
 •  12/16/2024 ACN Stockholder Letter
 •  More "Business Services & Equipment" Category Stockholder Letters
 •  ACN Benford's Law Stock Score = 91

ACN Shareholder/Stockholder Letter Transcript:

i
accenture
Nr
2025
2025
Annual
Report
Annual Report
Reinventing what   s
Reinventing
what's possible
possible
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In fiscal
fiscal year
year 2025,
Accenture further
further advanced
advanced our
our strategy
strategy to
to be
be the
the
In
2025, Accenture
reinvention partner
partner of
of choice
choice for
for our
our clients,
clients, reflected
reflected in
in strong
strong revenue
revenue
reinvention
growth, adjusted
adjusted EPS
EPS growth
growth and
and strong
strong free
free cash
cash flow.
flow.
growth,
Revenues
Revenues
New
Bookings
New Bookings
69.7B
$69.7B
80.6B
$80.6B
A 7%
both
A
7% increase
increase in
in both
local currency
currency and
USD
local
and USD
A 1%
decrease in
in both
both local
local currency
currency
A
1% decrease
and USD,
USD, with
with aa book-to-bill
book-to-bill of
of 1.2
and
1.2
Earnings
per Share
Earnings per
Share (Adjusted)
(Adjusted)
Operating
Margin (Adjusted)
(Adjusted)
Operating Margin


12.93
$12.93
15.6
15.6%
Free Cash
Cash Flow
Flow
Free
Cash Returned
Returned to
Shareholders
Cash
to Shareholders

An
8% increase,
increase, after
after adjusting
An 8%
adjusting
FY25 GAAP
GAAP EPS
EPS of
of $12.15
$12.15 and
and FY24
FY24
FY25
GAAP EPS
EPS of
$11.44 to
to exclude
exclude the
the
GAAP
of $11.44
impact of
of business
impact
business optimization
optimization
costs of
$0.78 and
and $0.51
$0.51 per
per share,
share,
costs
of $0.78
respectively.
respectively. On
On aa GAAP
GAAP basis,
basis,
FY25
increased 6%
FY25 EPS
EPS increased
6%
10.9B
$10.9B

Defined as
as operating
operating cash
cash flow
flow of
of
Defined
$11.5 billion
net of
of property
property and
$11.5
billion net
and
equipment
of $600
million
equipment additions
additions of
$6OO million
For 12
ended August
August 31,
31, 2025
For
12 months
months ended
2025

An
increase of
of 1O
10 basis
basis points,
An increase
points,
after adjusting
FY25 GAAP
GAAP operating
operating
after
adjusting FY25
margin of
of 14.7%
and FY24
FY24 GAAP
GAAP
margin
14.7% and
operating
14.8% to
operating margin
margin of
of 14.8%
to exclude
exclude
the impact
impact of
of business
business optimization
optimization
the
costs
and 70
costs of
of 90
90 bps
bps and
70 bps,
bps,
respectively.
respectively. On
On a
a GAAP
GAAP basis,
basis, FY25
FY25
operating margin
margin decreased
decreased 10
bps
operating
10 bps
8.3B
$8.3B

Defined as
as share
share repurchases
repurchases of
of
Defined
$4.6 billion
plus cash
cash dividends
dividends
$4.6
billion plus
of
billion
of $3.7
$3.7 billion

Julie Sweet
Julie
Sweet
Chair and
Chair
and
Chief Executive
Officer
Chief
Executive Officer
To
Shareholders
To our
our Shareholders
In fiscal
fiscal year
year 2025,
2025, Accenture
Accenture delivered
delivered strong
strong
In
financial results
results and
and significantly
significantly elevated
elevated our
our
financial
competitive positioning,
positioning, taking
taking our
our next
next big
big
competitive
steps to
to position
position us
us for
for growth
growth in
in the
the age
age of
of AI.
Al.
steps
We built
built on
on the
the rapid
rapid shift
we made
made in
business by
by the
the end
end of
of
We
shift we
in our
our business
fiscal year
year 2024
to address
address challenging
challenging market
market conditions,
conditions, which
which
fiscal
2024 to
continue
action to
to fully
on the
continue to
to persist.
persist. We
We then
then took
took action
fully capitalize
capitalize on
the
competitive advantages
we have
have built
built over
a long
long period
period of
time.
competitive
advantages we
over a
of time.
These
advantages include
include our
ecosystem partnerships;
These advantages
our ecosystem
partnerships; our
our breadth
breadth
of capabilities;
capabilities; our
our deep
deep and
and trusted
client relationships   we
relationships   we have
have
of
trusted client
partnered with
with 195
of our
our top
clients for
for 10
or more
more years;
years; our
our
partnered
195 of
top 200
200 clients
10 or
track
in new
and rotating
track record
record of
of investing
investing in
new skills
skills and
rotating our
our business
business with
with
successive technology
technology revolutions;
revolutions; and
our ability
ability to
to invest.
invest. We
We
successive
and our
know our
our clients
clients and
their industries
industries inside
and out,
out, and,
and, with
with these
these
know
and their
inside and
competitive
advantages, we
competitive advantages,
we believe
believe we
we can
can serve
serve more
more of
of their
their
needs for
for large-scale
large-scale transformations
transformations than
than any
any other
other player
player
needs
in
the industry.
industry.
in the
Our strategy   to
strategy   to be
be the
the reinvention
reinvention partner
partner of
of choice
choice for
for our
clients
Our
our clients
and
the
most
Al-enabled,
client-focused,
great
place
to
work
for our
and the most AI-enabled, client-focused, great place to work for
our
Reinventors   continues to
and investment.
Reinventors   continues
to guide
guide every
every decision
decision and
investment.
1
1

Financial
Financial Performance
Performance
and Shareholder
Shareholder Value
Value
and
In
fiscal year
year 2025,
we achieved
achieved broad-based
broad-based revenue
revenue growth
growth
In fiscal
2025, we
across all
all our
our markets,
markets, industries
and types
types of
of work,
work, with
with
across
industries and
revenue
revenue of
of $69.7
$69.7 billion.
billion.
We
continue to
deliver on
on our
commitment
We continue
to deliver
our commitment
to return
return cash
cash to
to our
our shareholders
shareholders through
through
to
quarterly
quarterly dividends
dividends and
and share
share repurchases.
repurchases.
In
fiscal year
we paid
paid a
a quarterly
quarterly
In fiscal
year 2025,
2025, we
dividend of
of $1.48
$1.48 per
per share,
share, bringing
bringing
dividend
dividend
full year
year to
dividend payments
payments for
for the
the full
to $3.7
$3.7
billion, and
and repurchased
repurchased 14.1
million shares
shares
billion,
14.1 million
for a
a total
total of
$4.6 billion.
billion. In
our
for
of $4.6
In September,
September, our
board
additional $5
board approved
approved an
an additional
$5 billion
billion
of share
share repurchase
repurchase authority,
authority, bringing
bringing
of
our authorization
$7.9 billion;
billion; we
we also
also
our
authorization to
to $7.9
generated
free cash
of $10.9
generated strong
strong free
cash flow
flow of
$10.9
billion in
in the
the year.
year.
billion
This
reflects growth
growth of
of 7%
in local
local currency
currency
This reflects
7% in
and nearly
nearly $5
$5 billion
billion in
incremental revenue
revenue
and
in incremental
added
year, the
added this
this year,
the majority
majority of
of which
which was
was
organic. We
also delivered
delivered new
new bookings
bookings
organic.
We also
of $80.6
$80.6 billion,
billion, including
including a
a record
record 129
of
129
quarterly
quarterly client
client bookings
bookings of
of more
more than
than $100
$100
million, demonstrating
demonstrating our
our agility
to shift
shift to
million,
agility to
to
meet our
clients' need
need for
for large
large reinventions.
reinventions.
meet
our clients'
We
also delivered
delivered strong
strong adjusted
earnings
We also
adjusted earnings
per
share
growth
and
generated
strong
free
per share growth and generated strong free
cash
flow, both
cash flow,
both above
above our
our guidance,
guidance, and
and
we returned
returned a
a significant
significant amount
amount of
of cash
cash
we
to shareholders,
shareholders, an
an increase
of 7%
over
to
increase of
7% over
fiscal year
year 2024.
2024. And
fiscal
And we
we took
took share
share at
at more
more
than five
five times
times our
our investable
investable basket
basket of
of our
our
than
closest
global
publicly
traded
competitors,
closest global publicly traded competitors,
which
which is
is how
how we
we calculate
calculate market
market share.
share.
During
2025, we
During fiscal
fiscal year
year 2025,
we continued
continued to
to
make significant
significant investments   in
investments   in strategic
strategic
make
acquisitions; R&D
R&D across
across our
assets,
acquisitions;
our assets,
platforms,
and industry
platforms, and
industry and
and functional
functional
solutions; and
our people
people and
and training   that
training   that
solutions;
and our
fuel our
our ability
to deliver
deliver value
value and
and enhance
fuel
ability to
enhance
our
and competitiveness.
our differentiation
differentiation and
competitiveness.
We
expanded adjusted
adjusted operating
operating margin
margin
We expanded
by
10 basis
15.6% and
by 10
basis points
points to
to 15.6%
and delivered
delivered
adjusted EPS
EPS growth
growth of
of 8%,
8%, while
while continuing
continuing
adjusted
to
significantly
invest
in
our
business
and
to significantly invest in our business and
our
in strategic
our people
people with
with $1.5
$1.5 billion
billion in
strategic
acquisitions, $800
$800 million
million in
research and
and
acquisitions,
in research
development, and
$1.0 billion
billion in
learning
development,
and $1.0
in learning
and
and development.
development.
129
129
Quarterly
bookings
Quarterly client
client bookings
of
than $100M
$100M
of more
more than
2
2

Al Leadership   Yesterday,
AI
Leadership   Yesterday,
Today and
and Tomorrow
Tomorrow
Today
V
Today, Accenture
Accenture works
works across
across every
every
Today,
major market
market with
with more
more than
than 9,000
9,000
major
clients,
including the
clients, including
the world's
world's largest
largest
companies   three-quarters
companies   three-quarters of
of the
the
Fortune Global
100 and
Fortune
Global 100
and 500.
500.
We
are focused
focused on
on delivering
delivering results
results regardless
regardless
We are
of
market
conditions
by
being
the
most
relevant
of market conditions by being the most relevant
to our
to
our clients   and
clients   and relevance
relevance today
today requires
requires
leadership in
Al.
leadership
in AI.
As
the potential
unfolds, we
As the
potential of
of AI
Al unfolds,
we partner
partner with
with
organizations
stage of
of their
their AI
Al journey   
journey   
organizations at
at every
every stage
helping those
those just
just starting
starting to
become AI-ready
AI-ready
helping
to become
and accelerating
its deployment,
and
accelerating its
deployment, supporting
supporting
others
to unlock
unlock immediate
value even
even if
they
others to
immediate value
if they
are
not fully
ready across
across the
the enterprise,
enterprise, and
are not
fully ready
and
enabling clients
along on
enabling
clients already
already far
far along
on their
their AI
Al
journey to
to lead
lead transformative
transformative change.
change.
journey
Our
in fiscal
fiscal year
year 2023
2023 to
Our decision
decision in
to make
make a
a
significant,
multi-year investment
investment of
of $3
$3 billion
billion
significant, multi-year
in
generative AI
Al and
and become
become an
an early
early leader
leader has
has
in generative
positioned
this new
positioned us
us to
to capture
capture this
new area
area of
of spend
spend
for
our clients.
clients. In
fiscal year
year 2025,
we tripled
our
for our
In fiscal
2025, we
tripled our
revenue
over
fiscal
year
2024
from
generative
Al
revenue over fiscal year 2024 from generative AI
and, increasingly,
and,
increasingly, agentic
agentic AI
Al to
to $2.7
$2.7 billion.
billion. And
And
we nearly
nearly doubled
doubled our
generative AI
Al bookings
bookings
we
our generative
to
$5.9 billion.
billion. (These
numbers reflect
reflect only
only
to $5.9
(These numbers
revenue
and bookings
revenue and
bookings specifically
specifically related
related to
to
advanced
Al and
and do
do not
not include
data, classical
classical
advanced AI
include data,
Al or
or AI
Al used
used in
in delivery
delivery of
of our
our services.)
services.)
AI
3
I
!.1



 12/12/2025 Letter Continued (Full PDF)