Key Highlights

  • ACN shares traded down 0.72% at $237.40, even as the 50-day Moving Average moved above the 200-day average.
  • Fiscal fourth-quarter Revenue was $18.7 billion, up 7% in local currency and above the top of guidance.
  • New bookings reached $22.2 billion in the quarter, with managed services bookings a record $12.8 billion.
  • Fiscal 2027 guidance calls for local-currency revenue growth of 3% to 6% and GAAP EPS of $14.39 to $14.81.
  • Free Cash Flow was $11.6 billion for fiscal 2026, while $11.5 billion was returned to shareholders through Buybacks and dividends.

Accenture (NYSE:ACN) shares are trading down 0.72% at $237.40, even as the stock's 50-day simple moving average has moved above its 200-day, a pattern technical analysts call a golden cross. The company has a market Capitalization of $158.83 billion.

Accenture is a global professional services company offering consulting, technology and managed services, with about 814,000 employees. It reported fiscal fourth-quarter and full-year results on October 1, for the year ended August 31.

Record Managed Services Bookings Lift the Fourth Quarter

Fourth-quarter revenue was $18.7 billion, up 6% in US dollars and 7% in local currency, above the top of management's guided range. GAAP diluted EPS was $3.29, up 46% from $2.25 a year earlier and 9% above the prior-year adjusted figure of $3.03. GAAP Operating Margin was 15.3%.

New bookings were $22.2 billion, up 4% in US dollars and 5% in local currency. Managed services bookings were a record $12.8 billion, a book-to-bill ratio of 1.4, while consulting bookings were $9.4 billion. Management noted that managed services bookings are lumpy and pointed to a trailing four-quarter book-to-bill ratio of 1.2.

Consulting revenue was $9.3 billion and managed services revenue was $9.4 billion, each up 7% in local currency.

Full-Year Cash Flow and Shareholder Returns

Fiscal 2026 revenue was $74.2 billion, up 6% in US dollars and 5% in local currency. Adjusted operating margin was 15.8%, up 20 basis points, and adjusted EPS was $13.97, up 8%. Full-year bookings were $84.5 billion, a book-to-bill ratio of 1.1.

Free cash flow was $11.6 billion. Accenture returned $11.5 billion to shareholders, comprising $7.5 billion of repurchases and redemptions and $4.0 billion of dividends. The next quarterly Dividend of $1.71 per share is payable on November 13.

Management Ties the Outlook to AI Demand and Discretionary Spend

Management attributed growth to large-scale reinventions, artificial intelligence demand and work with its largest ecosystem partners. Nearly 100 clients began their first advanced AI engagements in the fourth quarter, taking the fiscal-year total above 400. Management described AI as a net tailwind, with new opportunities outweighing efficiency effects.

For fiscal 2027, Accenture guided to local-currency revenue growth of 3% to 6%, a GAAP operating margin of 15.9% to 16.1% and GAAP EPS of $14.39 to $14.81. Free cash flow is expected at $11.0 billion to $11.8 billion, with at least $9.5 billion earmarked for shareholder returns. First-quarter revenue is guided at $18.95 billion to $19.60 billion.

The top of the revenue range assumes stable to slightly improving discretionary conditions, while the bottom allows for deterioration. Pricing was stable for the year but lower in many areas in the fourth quarter, and management expects intense competition, which is built into the outlook.

Fiscal 2027 Range Sets the Next Test

The golden cross reflects past price action, and the shares are trading slightly lower on the day. The first-quarter report will show whether bookings are converting into revenue within the guided $18.95 billion to $19.60 billion range, and whether commentary on pricing and discretionary spend shifts.