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Amdocs Limited

DOX Technology Software Infrastructure

Amdocs Limited’s revenue for fiscal 2025 (year ended September 2025) was $4.5 billion, down 9.43% from fiscal 2024.

Revenue
+2.66%
EPS
−57.6%
Free cash flow
−18.8%
Total debt
+31.7%

Quarter to June 2026, against a year earlier

43.93 0.27 +0.62%
Market cap
$4.7B
P/E
10.4×
Fwd P/E
11.4×
Dividend yield
5.09%
F-score
6/9
Altman Z
4.69
Beneish M
−2.71
Dividend safety
87/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.03
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 4,710.00
Revenue ttm 4,653.03
Net income ttm 457.53
Free cash flow ttm 638.84
Net debt Q 845.89
Valuation
P/E 10.41
Forward P/E 11.40
Price / sales 0.98
Forward P/S Powerpack
Price / FCF 7.12
Price / book 1.37
Financial health
Current ratio Q 0.94 (below 1: weak)
Debt / equity Q 0.32 (at or below 0.5: strong)
Interest coverage Q 7.42
Growth
Revenue growth Q +2.66% (above 0%: growing)
Operating income growth Q −48.37% (below 0%: shrinking)
EPS, this year −26.23% (below 0%: weak)
EPS, next year A +11.93%
Revenue, next year A +3.66%
EPS, past 5 yrs +6.36%
EPS, next 5 yrs A −1.23% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 2.1×; over the ten years it ranged from 1.2× in 2026 to 2.4× in 2022.
P/E against its own 10 years 0.29%
10-year low 10-year high
P/S against its own 10 years 0.07%
10-year low 10-year high
P/B against its own 10 years 0.07%
10-year low 10-year high
EV/Sales against its own 10 years 0.07%
10-year low 10-year high
EV/FCF against its own 10 years 1.21%
10-year low 10-year high

Dividends raised 2 years running

Yield
5.09%
Annual rate
2.23
Payout ratio
53.2%
Growth, 2017–25
+11.5%/yr
  1. 0.88 ’17
  2. 1.00 ’18 +14
  3. 1.14 ’19 +14
  4. 1.31 ’20 +15
  5. 1.44 ’21 +10
  6. 1.98 ’22 +37
  7. 1.74 ’23 −12
  8. 1.92 ’24 +10
  9. 2.11 ’25 +10
  10. 2.11 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 743 514 325 206
Receivables 944 1,028 936 1,010
Inventory — — — —
Other — — — —
1,912 1,771 1,592 1,593
2023 2024 2025 Q'26
Payables 293 306 371 344
ST’ Debt — — — 280
Other — — — —
1,353 1,471 1,359 1,702

Compound Annual Growth %

10y 5y 3y
Sales 2.21% 1.69% (0.32%)
Cash Flow (0.31%) 2.62% (0.34%)
Earnings 2.30% 2.32% 0.76%
Book Value 0.19% (1.08%) (0.85%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 1.84 Actual 1.84

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 1.82 1.83 Beat by 0.01
Dec 2025 1.75 1.81 Beat by 0.06
Mar 2026 1.77 1.78 Beat by 0.01
Jun 2026 1.84 1.84 Met by 0.00
Sep 2026 1.98 — Reports 10 November 2026

EPS $

Dec Mar Jun Sep Year
’26 1.45 1.28 0.59 — —
’25 1.33 1.45 1.39 0.88 5.05
’24 1.26 1.01 1.21 0.76 4.25
’23 1.07 1.23 1.32 0.86 4.49
’22 1.07 1.28 1.04 1.05 4.44
’21 2.28 0.91 1.14 0.97 5.32
’20 0.85 0.94 0.90 1.01 3.71
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 1,156 1,172 1,175 — —
’25 1,110 1,128 1,144 1,150 4,533
’24 1,245 1,246 1,250 1,264 5,005
’23 1,186 1,223 1,236 1,243 4,888
’22 1,105 1,145 1,160 1,167 4,577
’21 1,086 1,049 1,066 1,087 4,289
’20 1,042 1,048 1,026 1,053 4,169
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 220 102 197 — —
’25 106 172 241 230 749
’24 182 133 191 218 724
’23 83 294 173 272 823
’22 204 169 167 217 757
’21 416 120 190 200 926
’20 164 103 187 205 658
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 188 80 172 — —
’25 78 156 212 199 645
’24 139 113 175 192 619
’23 50 259 144 272 724
’22 147 122 126 135 530
’21 366 70 140 139 715
’20 105 57 145 145 453
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,718 3,867 3,975 4,087 4,169 4,289 4,577 4,888 5,005 4,533 4,653 +2.2% 4,699 4,849 5,035 +3.6%
Gross margin, % 35.24 35.16 34.71 35.08 33.90 34.46 35.38 35.35 35.07 37.98 38.28 +2.7 pt
EBT 485 513 422 568 583 814 648 636 591 693 584 +4.1%
EBT margin, % 13.04 13.26 10.61 13.90 13.99 18.99 14.17 13.02 11.81 15.29 12.54 +2.3 pt
Net income 409 437 354 479 498 688 550 543 496 568 458 +3.7%
Per share, $
Per share, $ Revenue 25.15 26.70 28.12 29.94 31.44 33.72 37.81 41.54 44.17 41.56 44.97 +5.7%
Earnings 2.74 2.99 2.49 3.49 3.73 5.36 4.47 4.52 4.27 5.08 4.22 +7.1%
Cash flow 4.19 4.39 3.94 4.81 4.96 7.28 6.25 6.99 6.39 6.87 7.24 +5.6%
Capex 1.57 (0.92) (1.64) (0.94) (1.55) (1.65) (1.88) (0.84) (0.93) (0.95) (1.06) n/m
Free cash flow 5.76 3.47 2.31 3.87 3.41 5.62 4.37 6.16 5.46 5.92 6.17 +0.3%
Book value 23.36 24.68 24.70 25.96 27.64 28.58 29.41 30.32 30.88 31.82 32.16 +3.5%
Shares, m 148 145 141 136 133 127 121 118 113 109 106 (3.3%)
Valuation, ×
Valuation, × P/E 21.04 21.55 26.57 18.94 15.39 14.18 17.77 18.67 20.49 16.18 10.41 19.1
P/S 2.30 2.42 2.33 2.21 1.83 2.25 2.10 2.02 1.98 1.97 0.98 2.1
P/B 2.48 2.62 2.66 2.55 2.08 2.65 2.70 2.77 2.83 2.58 1.37 2.6
EV/Sales 2.06 2.22 2.23 2.12 1.82 2.23 2.10 2.04 2.04 2.09 1.16 2.1
EV/FCF 8.99 17.07 27.22 16.41 16.80 13.34 18.18 13.74 16.46 14.65 8.44 16.3
Cash, $m
Cash, $m Operating cash flow 620 636 557 656 658 926 757 823 724 749 749 +2.1%
Capex 232 (133) (231) (128) (206) (210) (227) (98) (105) (104) (110) n/m
Free cash flow 852 503 326 528 453 715 530 724 619 645 639 (3.0%)
Balance, $m
Balance, $m Working capital 734 876 426 468 858 764 750 558 300 233 (110) (12.0%)
Net debt (896) (980) (519) (472) (10) (143) (34) 25 235 463 846 n/m
Shareholders’ equity 3,454 3,574 3,492 3,542 3,665 3,635 3,560 3,567 3,499 3,471 3,327 +0.1%
Returns, %
Returns, % ROA 7.68 8.17 6.62 8.95 8.50 10.60 8.40 8.29 7.55 8.77 6.98 +1.1 pt
ROIC 11.81 12.46 9.00 11.60 10.17 10.72 11.78 11.38 10.52 11.63 9.39 (0.2) pt
ROE 11.93 12.33 9.96 13.54 13.71 18.67 15.05 14.92 13.70 15.90 12.95 +4.0 pt
People
People Employees 25,561 24,670 24,381 24,516 25,875 27,176 30,288 30,695 29,058 26,969 — +0.6%
Revenue/emp, $m 0.15 0.16 0.16 0.17 0.16 0.16 0.15 0.16 0.17 0.17 — +1.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Amdocs Limited vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WEX WEX Inc. $5.9B 15.3× 14.8× +12.76% (above 0%: growing) +69.05% (above 0%: growing) −117.04% (below 0%: shrinking) 63.16% 30.61% Compare
MBGL Mobility Global Inc. $5.9B — — — — — 71.37% 17.52% Compare
VRNS Varonis Systems, Inc. $5.6B — (loss-making) — (loss-making) +17.26% (above 0%: growing) n/m −10.99% (below 0%: shrinking) 75.25% (25.18%) Compare
BB BlackBerry Limited $4.9B 62.9× 60.2× +26.00% (above 0%: growing) +200.00% (above 0%: growing) +1,470.59% (above 0%: growing) 77.83% 20.58% Compare
DOX Amdocs Limited $4.7B 10.4× 11.4× +2.66% (above 0%: growing) −57.55% (below 0%: shrinking) −18.84% (below 0%: shrinking) 39.76% 8.90%
TENB Tenable Holdings, Inc. $4.6B 333× 222× +9.49% (above 0%: growing) +400.00% (above 0%: growing) +24.39% (above 0%: growing) 77.81% 6.05% Compare
RELY Remitly Global, Inc. $4.6B 12.5× 16.3× +21.54% (above 0%: growing) +700.00% (above 0%: growing) +197.33% (above 0%: growing) 0.00% 13.61% Compare
DLO DLocal Limited $3.8B 19.2× 15.9× +55.84% (above 0%: growing) +26.67% (above 0%: growing) +12.57% (above 0%: growing) 31.81% 16.05% Compare
CORZ Core Scientific, Inc. $3.7B — (loss-making) — (loss-making) +108.83% (above 0%: growing) n/m −852.12% (below 0%: shrinking) 42.66% (47.79%) Compare
Median of peers $4.8B 19.2× 16.3× +21.54% +200.00% +12.57% 67.27% 14.83%

All 183 Software Infrastructure stocks →

Amdocs Limited (DOX) Latest News

4 Nov

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · InvestorsHub
Impact 4 · · Moby
Impact 3 · · Simply Wall St.

3 Nov

Impact 4 · · MarketBeat
Impact 4 · · StockStory
Impact 4 · · ACCESS Newswire
Impact 3 · · ACCESS Newswire
Impact 3 · · ACCESS Newswire

15 Oct

Impact 3 · · Simply Wall St.

14 Oct

Impact 4 · · Simply Wall St.

8 Oct

Impact 3 · · PR Newswire

7 Oct

Impact 4 · · The Motley Fool
Impact 4 · · ACCESS Newswire

5 Oct

Impact 4 · · Insider Monkey

24 Sep

Impact 3 · · StockStory

22 Sep

Impact 3 ·

4 Sep

Impact 3 ·

29 Aug

Impact 4 ·

13 Aug

Impact 4 · · MarketBeat
Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

6 Aug

Impact 3 ·
Impact 3 · · Moby transcript

5 Aug

Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·
Impact 3 ·

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