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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. In the quarter to June 2026, revenue grew 2.66%, EPS fell 57.6%, free cash flow fell 18.8% and total debt rose 31.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

60.08 0.60 −0.99%
Market cap
$6.5B
P/E
14.2×
Fwd P/E
10.2×
Dividend yield
3.72%
F-score
6/9
Altman Z
4.69
Beneish M
−2.71
Dividend safety
87/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.03
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 6,530.00
Revenue 4,653.03
Net Income 457.53
Free Cash Flow 638.84
Net Debt 845.89
Current Ratio 0.94 (below 1: weak)
Debt/Equity 0.32 (at or below 0.5: strong)
P/E ratio 14.24
Fwd P/E 10.20
P/S ratio 1.34
P/B ratio 1.87
Past 5Y EPS Growth 6.36%
This Y EPS Growth 6.09%
Next Y EPS Growth 8.06%
Next Y revenue growth 3.66%
Next 5Y EPS Growth 9.55%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 2.1×; over the ten years it ranged from 1.3× in 2026 to 2.4× in 2022.
P/E against its own 10 years 8.96%
10-year low 10-year high
P/S against its own 10 years 2.62%
10-year low 10-year high
P/B against its own 10 years 2.95%
10-year low 10-year high
EV/Sales against its own 10 years 2.73%
10-year low 10-year high
EV/FCF against its own 10 years 16.18%
10-year low 10-year high

Dividends

Payout Ratio 0.53
Annual Dividend Rate 2.23
Annual Dividend Yield 3.72%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.11
0.57
0.57
0.57
2025 1.83
0.53
0.53
0.53
0.53
2024 1.92
0.48
0.48
0.48
0.48
2023 1.74
0.44
0.44
0.44
0.44
2022 1.98
0.40
0.40
0.40
0.40
0.40
2021 1.44
0.36
0.36
0.36
0.36
2020 1.31
0.33
0.33
0.33
0.33
2019 1.14
0.29
0.29
0.29
0.29
2018 1.00
0.25
0.25
0.25
0.25
2017 0.88
0.22
0.22
0.22
0.22
2016 0.78
0.20
0.20
0.20
0.20
predictions special payouts not included in total or ratios

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%)

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 50.06 56.10 55.89 52.60 44.05 67.40 72.63 78.38 74.41 74.32

Analyst estimates 2026–2028

Powerpack
High 61.33 67.98 71.72 72.89 77.29 82.38 91.24 99.75 94.04 95.41
People
People Employees 25,561 24,670 24,381 24,516 25,875 27,176 30,288 30,695 29,058 26,969
Revenue/emp, $m 0.15 0.16 0.16 0.17 0.16 0.16 0.15 0.16 0.17 0.17
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
Gross margin, % 35.24 35.16 34.71 35.08 33.90 34.46 35.38 35.35 35.07 37.98
EBT 485 513 422 568 583 814 648 636 591 693
EBT margin, % 13.04 13.26 10.61 13.90 13.99 18.99 14.17 13.02 11.81 15.29
Net income 409 437 354 479 498 688 550 543 496 568
Depreciation 212 215 211 206 199 209 225 196 196 196
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
Earnings 2.74 2.99 2.49 3.49 3.73 5.36 4.47 4.52 4.27 5.08
Cash flow 4.19 4.39 3.94 4.81 4.96 7.28 6.25 6.99 6.39 6.87
Capex 1.57 (0.92) (1.64) (0.94) (1.55) (1.65) (1.88) (0.84) (0.93) (0.95)
Free cash flow 5.76 3.47 2.31 3.87 3.41 5.62 4.37 6.16 5.46 5.92
Book value 23.36 24.68 24.70 25.96 27.64 28.58 29.41 30.32 30.88 31.82
Shares, m 148 145 141 136 133 127 121 118 113 109
Valuation, ×
Valuation, × P/E 21.04 21.55 26.57 18.94 15.39 14.18 17.77 18.67 20.49 16.18
P/S 2.30 2.42 2.33 2.21 1.83 2.25 2.10 2.02 1.98 1.97
P/B 2.48 2.62 2.66 2.55 2.08 2.65 2.70 2.77 2.83 2.58
EV/Sales 2.06 2.22 2.23 2.12 1.82 2.23 2.10 2.04 2.04 2.09
EV/FCF 8.99 17.07 27.22 16.41 16.80 13.34 18.18 13.74 16.46 14.65
Cash, $m
Cash, $m Operating cash flow 620 636 557 656 658 926 757 823 724 749
Capex 232 (133) (231) (128) (206) (210) (227) (98) (105) (104)
Free cash flow 852 503 326 528 453 715 530 724 619 645
Balance, $m
Balance, $m Working capital 734 876 426 468 858 764 750 558 300 233
Total debt 200 — — — 974 822 783 767 750 788
Net debt (896) (980) (519) (472) (10) (143) (34) 25 235 463
Shareholders’ equity 3,454 3,574 3,492 3,542 3,665 3,635 3,560 3,567 3,499 3,471
Returns, %
Returns, % ROA 7.68 8.17 6.62 8.95 8.50 10.60 8.40 8.29 7.55 8.77
ROIC 11.81 12.46 9.00 11.60 10.17 10.72 11.78 11.38 10.52 11.63
ROE 11.93 12.33 9.96 13.54 13.71 18.67 15.05 14.92 13.70 15.90
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

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
S SentinelOne, Inc. $8.1B — (loss-making) — (loss-making) +20.56% (above 0%: growing) n/m −83.92% (below 0%: shrinking) 72.07% (31.08%) Compare
DBX Dropbox, Inc. $8.0B 19.5× 15.5× +0.93% (above 0%: growing) −6.52% (below 0%: shrinking) −10.29% (below 0%: shrinking) 80.21% 26.10% Compare
PATH UiPath, Inc. $7.2B 19.1× 35.0× +13.42% (above 0%: growing) +2,233.33% (above 0%: growing) −29.52% (below 0%: shrinking) 80.36% 7.70% Compare
QLYS Qualys, Inc. $6.7B 31.2× 19.9× +11.04% (above 0%: growing) +15.38% (above 0%: growing) +72.34% (above 0%: growing) 83.40% 33.98% Compare
DOX Amdocs Limited $6.5B 14.2× 10.2× +2.66% (above 0%: growing) −57.55% (below 0%: shrinking) −18.84% (below 0%: shrinking) 39.76% 8.90%
WEX WEX Inc. $6.2B 17.9× 12.5× +14.24% (above 0%: growing) +58.08% (above 0%: growing) −152.65% (below 0%: shrinking) 61.54% 26.94% Compare
VRNS Varonis Systems, Inc. $5.4B — (loss-making) — (loss-making) +18.31% (above 0%: growing) n/m +15.62% (above 0%: growing) 75.27% (22.57%) Compare
BOX Box, Inc. $5.4B 54.9× 64.3× +9.23% (above 0%: growing) +66.67% (above 0%: growing) +65.84% (above 0%: growing) 79.08% 10.16% Compare
ACIW ACI Worldwide, Inc. $5.3B 24.0× 17.0× +7.27% (above 0%: growing) +158.33% (above 0%: growing) +35.07% (above 0%: growing) 42.18% 10.37% Compare
Median of peers $6.4B 21.8× 18.5× +12.23% +62.38% +2.67% 77.17% 10.26%

All 173 Software Infrastructure stocks →

Amdocs Limited (DOX) key facts

  • Concern: Amdocs Limited’s revenue for fiscal 2025 (year ended September 2025) was $4.5 billion, down 9.43% from fiscal 2024.
  • Amdocs Limited (DOX) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, DOX traded at $60.08, a market capitalization of $6.5 billion.
  • Amdocs Limited pays an annual dividend of $2.23 per share, a yield of 3.72%, with a payout ratio of 53.2%.
  • Return on equity was 15.9% and debt-to-equity 0.32.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.69 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Amdocs Limited (DOX) Latest News

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stockrow.com/DOX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com