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
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Amdocs Limited (DOX) Piotroski F-score
Amdocs Limited's Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 6 | 0.00 |
| FY2024 | 6 | 0.00 |
| FY2023 | 6 | (2.00) |
| FY2022 | 8 | 1.00 |
| FY2021 | 7 | 2.00 |
| FY2020 | 5 | (4.00) |
| FY2019 | 9 | 3.00 |
| FY2018 | 6 | (2.00) |
| FY2017 | 8 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 8.77% | 7.55% | Pass | 1 |
| Positive operating cash flow | 749.10m | 724.43m | Pass | 1 |
| Rising return on assets | 8.77% | 7.55% | Pass | 1 |
| Cash flow above net income | 194.98m | 240.57m | Pass | 1 |
| Falling long-term leverage | 0.12 | 0.12 | Fail | 0 |
| Rising current ratio | 1.17 | 1.20 | Fail | 0 |
| No new shares issued | 109,063,000 | 113,302,000 | Pass | 1 |
| Rising gross margin | 37.98% | 35.07% | Pass | 1 |
| Rising asset turnover | 0.72 | 0.78 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| RELY Remitly Global, Inc. compare | 7 |
| BB BlackBerry Limited compare | 6 |
| DLO DLocal Limited compare | 6 |
| TENB Tenable Holdings, Inc. compare | 6 |
| DOX Amdocs Limited | 6 |
| WEX WEX Inc. compare | 5 |
| VRNS Varonis Systems, Inc. compare | 4 |
| CORZ Core Scientific, Inc. compare | 4 |
| MBGL Mobility Global Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover
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- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
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- Return on assets
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- Current ratio
- Total debt
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- Altman Z-score
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- The full statement