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Accenture (ACN) FY2024 results: revenue $64.9 billion, up 1.2% on the year

Accenture plc (ACN) reported revenue of $64.9 billion for fiscal 2024, the year ended 31 August 2024, up 1.2% on the year before. Net income was $7.3 billion, up 5.7%, and diluted earnings per share $11.44. The figures are the company's own, from the 10-K it filed with the SEC on 10 October 2024.

Revenue
$64.9 billion
+1.2% on the year
FY2017FY2024
Operating margin
14.8%
13.7% a year earlier
FY2017FY2024
Net income
$7.3 billion
+5.7% on the year
FY2017FY2024
Diluted EPS
$11.44
+6.2% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue64,89664,11261,594+1.2%
Cost of revenue43,73443,38041,893+0.8%
Gross profit21,16220,73219,702+2.1%
Gross margin32.6%32.3%32.0%
Research and development1,1501,2991,123-11.4%
Operating income9,5968,8109,367+8.9%
Operating margin14.8%13.7%15.2%
Interest expense59.047.547.3+24.1%
Pre-tax income9,6999,1399,196+6.1%
Income tax2,2802,1362,207+6.8%
Effective tax rate23.5%23.4%24.0%
Net income7,2656,8726,877+5.7%
Net margin11.2%10.7%11.2%
Diluted EPS$11.44$10.77$10.71+6.2%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow9,1319,5249,541-4.1%
Capital expenditure517528718-2.2%
Free cash flow8,6158,9968,823-4.2%
Free cash flow margin13.3%14.0%14.3%
Cash from investing-7,062-2,622-4,261
Cash from financing-6,064-5,645-5,311
Depreciation and amortisation1,4431,4121,319+2.2%
Share-based compensation1,9421,9131,680+1.5%
Buybacks4,5254,3304,116+4.5%
Dividends paid3,2412,8272,457+14.6%
Dividend per share$5.16$4.48$3.88+15.2%
Diluted shares, weighted636m639m643m-0.4%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity28,28925,69322,106+10.1%
Non-controlling interest880766641+14.9%
Debt1,02514855.1+592.9%
Operating lease liabilities2,3692,3112,563+2.5%
Other liabilities23,37022,32821,898+4.7%
Total liabilities and equity55,93251,24547,263+9.1%
Fixed assets1,5211,5301,659-0.6%
Goodwill21,12015,57313,133+35.6%
Intangible assets2,9042,0731,931+40.1%
Investments340202322+68.3%
Cash and equivalents5,0049,0457,890-44.7%
Receivables11,87310,69110,484+11.1%
Other assets13,16912,13211,844+8.6%
Total assets55,93251,24547,263+9.1%

10-K for the year ended 31 August 2024, filed 10 October 2024: the filing.