AMDOCS LTD financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AMDOCS LTD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	3,644	3,718	3,867	3,975	4,087	4,169	4,289	4,577	4,888	5,005
Cost of revenue	2,349	2,408	2,508	2,595	2,653	2,756	2,811	2,958	3,160	3,250
Gross profit	1,294	1,310	1,359	1,380	1,433	1,413	1,478	1,619	1,728	1,755
Selling, general and administrative	440	465	473	481	492	459	487	529	571	573
Operating income	516	483	517	428	570	595	599	665	654	629
Interest expense	3.14	1.67	1.6	2.76	3.91	10.4	21.3	16.9	23.1	34.9
Interest income	4.62	6.82	7.97	6.6	6.23	4.23	4.82	7.82	21.2	17.5
Other non-operating income	-2.54	1.56	-4.42	-6.77	-1.86	-11.4	-10.8	-26.4	-17.6	-37.5
Pre-tax income	513	485	513	422	568	583	814	648	636	591
Income tax	67.2	75.4	76.1	67.1	88.4	85.5	126	98.9	93.4	94.8
Net income to minority interests							0	0	2.25	3.12
Net income	446	409	437	354	479	498	688	550	541	493
EBITDA	691	695	732	640	776	793	808	889	782	757
EPS, basic	2.89	2.74	2.99	2.49	3.49	3.73	5.36	4.47	4.52	4.27
EPS, diluted	2.85	2.71	2.96	2.47	3.47	3.71	5.32	4.44	4.49	4.25
Shares, basic (weighted)	153	148	145	141	136	133	127	123	120	115
Shares, diluted (weighted)	155	150	146	143	137	133	128	122	118	115
Dividend per share	0.67	0.76	0.86	0.97	1.11	1.27	1.41	1.55	1.70	1.87

Balance sheet

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	1,036	769	650	419	472	983	709	573	520	346
Short-term investments	318	327	330	100		0.75	257	245	222	168
Receivables	715	819	865	972	988	861	867	947	944	1,028
Other current assets	159	186	204	230	216	230	235	238	225	228
Total current assets	2,378	2,100	2,048	1,721	1,676	2,075	2,067	2,003	1,912	1,771
Property, plant and equipment	309	332	356	497	525	608	699	794	791	756
Lease right-of-use assets						295	233	177	161	149
Goodwill	2,049	2,212	2,221	2,445	2,463	2,579	2,623	2,663	2,749	2,845
Intangible assets	253	282	177	265	205	296	259	178	182	161
Other non-current assets	336	406	477	420	424	489	631	575	632	704
Total assets	5,325	5,331	5,279	5,348	5,293	6,342	6,512	6,390	6,426	6,386
Accounts payable	112	137	126	195	177	110	121	134	293	306
Accrued liabilities	224	244	265	261	266	227	274	209	215	231
Deferred revenue	198	173	113	132	118	127	237	254	171	115
Short-term debt						100	0
Total current liabilities	1,364	1,366	1,173	1,295	1,208	1,216	1,304	1,253	1,353	1,471
Long-term debt						644	645	645	646	646
Lease liabilities						230	178	138	122	103
Other non-current liabilities	248	285	313	336	335	328	446	482	485	468
Total liabilities	1,918	1,878	1,705	1,856	1,750	2,676	2,877	2,830	2,859	2,887
Total debt						644	645	645	646	646
Paid-in capital	3,183	3,323	3,459	3,588	3,668	3,808	3,951	4,106	4,244	4,414
Retained earnings	3,848	4,145	4,457	4,674	5,013	5,342	5,851	6,212	6,550	6,828
Treasury stock	-3,611	-4,025	-4,365	-4,784	-5,182	-5,543	-6,223	-6,732	-7,221	-7,784
Other comprehensive income	-16.8	6.1	18.8	-32.7	-2.55	11.7	9.34	-72.5	-53.3	-4.41
Shareholders' equity	3,407	3,454	3,574	3,449	3,500	3,623	3,593	3,518	3,524	3,457
Minority interests				43.2	42.5	42.5	42.5	42.5	43.2	42.2
Total equity	3,407	3,454	3,574	3,492	3,542	3,665	3,635	3,560	3,567	3,499
Total liabilities and equity	5,325	5,331	5,279	5,348	5,293	6,342	6,512	6,390	6,426	6,386
Shares outstanding	151	147	144	140	135	132	125	121	117	113

Cash flow statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	446	409	437	354	479	498	688	550	543	496
Depreciation and amortization	175	212	215	211	206	198	209	225	128	129
Stock-based compensation	44.6	42.7	44.5	47.5	38.6	42.4	54.2	71.8	89.7	105
Deferred income tax	-26.9	-2.32	6.55	25.1	-14	30.2	-50.6	-3.29	-60.2	-45.7
Change in receivables	39.8	-70.9	-41.1	-66.5	6.59	135	-69.1	-65	3.46	-104
Change in payables	63.9	60	72	25.3	-60	-190	122	-83.9	159	216
Cash from operations	773	620	636	557	656	658	926	757	823	724
Capital expenditures	-121	-130	-133	-231			-210	-227	-124	-105
Acquisitions	-263	-283	-18.1	-355	-60.6	-249	-143	-24.4	-122	-86.8
Purchases of investments			-282	-76		-0.75	-277	-34.3	0	-9.06
Sales and maturities of investments			278	303	101	0	18.2	21.9	26	68.7
Cash from investing	-380	-441	-185	-362	-86.8	-462	-329	-263	-224	-127
Debt issued						644	0	0
Stock issued	78.2	89.6	87.6	81.3	41.5	97.9	89.1	82.9	48.7	26.9
Share buybacks	-454	-413	-341	-419	-398	-361	-680	-508	-490	-563
Dividends paid	-101	-109	-122	-134	-148	-164	-177	-186	-199	-212
Cash from financing	-461	-446	-570	-426	-517	315	-871	-630	-651	-771
Net change in cash	-67.7	-267	-119	-231	52.8	512	-274	-136	-53.3	-174
Free cash flow	652	490	503	326			715	530	698	619
Interest paid	0.55	0.58	1.15	2.01	7.35	5.39	19.4	16.7	19.4	35.4
Income taxes paid	51.1	50.4	67.5	55.9	75.8	45.4	146	80.4	156	188

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $57.71 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.1%	Gross profit / revenue.
Operating margin	12.6%	Operating income / revenue.
EBITDA margin	15.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.8%	Pre-tax income / revenue.
Net margin	9.9%	Net income / revenue.
FCF margin	12.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	14.5%	Cash from operations / revenue.
Effective tax rate	16.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.7%	Net income / average total assets.
Return on invested capital (ROIC)	14.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	11.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.1%	Capital expenditures / revenue.
D&A / revenue	2.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-3.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	1.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	2.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-2.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-8.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-10.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	0.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-5.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-7.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-11.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-7.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	2.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-11.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-4.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	11.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-0.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.20x	Current assets / current liabilities.
Quick ratio	1.05x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.35x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.19x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	10.1%	Total debt / total assets.
Liabilities / assets	45.2%	Total liabilities / total assets.
Net debt	$132.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.17x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	18.0x	Operating income / interest expense.
Working capital	$300.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	47.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$451.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.78x	Revenue / average total assets.
Fixed asset turnover	6.47x	Revenue / average property, plant and equipment.
Receivables turnover	5.07x	Revenue / average receivables.
Days sales outstanding	72 days	365 x average receivables / revenue.
Days payables	34 days	365 x average accounts payable / cost of revenue.
FCF conversion	125.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	14.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.25	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$4.27	Net income per basic share, as reported (split-adjusted).
Revenue per share	$43.34	Revenue / diluted weighted shares.
FCF per share	$5.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.27	Cash from operations / diluted weighted shares.
Book value per share	$30.62	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.00	Tangible book value / shares outstanding.
Cash per share	$4.56	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.87	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	43.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	34.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	91.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.23B	Share price x shares outstanding.
Enterprise value	$6.36B	Market cap + total debt - cash - short-term investments.
P/E	12.6x	Market cap / net income. Only when net income is positive.
P/S	1.24x	Market cap / revenue.
P/B	1.80x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	13.8x	Market cap / tangible book value, when positive.
P/FCF	10.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.60x	Market cap / cash from operations, when positive.
EV/Sales	1.27x	Enterprise value / revenue.
EV/EBIT	10.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.40x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.9%	Free cash flow / market cap.
Earnings yield	7.9%	Net income / market cap (the inverse of P/E).
Dividend yield	3.4%	Dividends paid over the period / market cap.
Shareholder yield	12.4%	(Dividends paid + share buybacks) / market cap.

What was AMDOCS LTD's revenue in fiscal 2024?

AMDOCS LTD reported revenue of $5.00B for fiscal 2024, 2.4% higher than the year before.

Was AMDOCS LTD profitable in fiscal 2024?

Yes. Net income was $493.2M, a net margin of 9.9%.

How much free cash flow did AMDOCS LTD generate in fiscal 2024?

Cash from operations of $724.4M minus capital expenditures of $105.5M left free cash flow of $618.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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