Accenture delivered a resilient Q4 FY2024, underscoring the durability of its business model and the strategic shift toward large-scale reinventions anchored by GenAI. Revenue of $16.406 billion rose 5% in local currency year over year, supported by broad-based demand across seven of 13 industries and a return to growth in consulting activities. New bookings of $20.1 billion yielded a book-to-bill of 1.2, signaling solid revenue visibility as Accenture moves further into megadeals (125 client bookings over $100 million for the year). Management framed GenAI as a transformational catalyst, positioning Accenture to capitalize on the AI-enabled productivity and growth opportunities across industries. FY2024 bookings reached a record $81.2 billion with revenue of $64.9 billion, a 2% local-currency expansion, while delivering a 15.5% adjusted operating margin and $11.95 in adjusted EPS for the year. The company returned substantial capital to shareholders (approx. $7.8B) and completed 46 acquisitions, reinforcing its inorganic growth engine.
For FY2025, management guided to 3%–6% local-currency revenue growth (inclusive of just over 3% inorganic contribution), an adjusted operating margin of 15.6%–15.8%, a tax rate of 22.5%–24.5%, and diluted EPS of $12.55–$12.91. Free cash flow is expected in the $8.8–$9.5 billion range, with at least $8.3 billion returned to shareholders. The plan envisions roughly $3 billion of acquisitions and continued investment in GenAI-related capabilities, data, and talent. While macro discretionary spend remains a risk, Accenture’s ongoing focus on large-scale transformations, its global AI workforce expansion (targeting ~80,000 practitioners by FY26), and its LearnVantage upskilling platform are poised to support margin resilience and growth. Investors should monitor macro spend intensity, AI data readiness, execution of GenAI engagements, and the cadence of acquisitions as key drivers of the FY25 trajectory.