Julie will then provide a brief update on the market position before Angie provides our business outlook for the first quarter and full-year fiscal 2026. We significantly elevated our competitive positioning, and we took our next big steps to position us for growth in the age of AI. We grew 7% last year, which was adding $5 billion in revenue, with over $80 billion in bookings. Of that 7% growth, the majority was organic, and the growth was broad-based across markets, industries, and types of work.

Technology is front and center for every client, and in FY25 we continued to be the number one partner for all of our top 10 ecosystem partners by revenue. 60% of our revenue is from work that we do with these partners, which grew 9%, outpacing our overall revenue growth in FY25. In FY25, we tripled our revenue over FY24 from Gen AI and increasingly Agentic AI to $2.7 billion, and we nearly doubled our Gen AI bookings to $5.9 billion. In addition to all we are doing around advanced AI, for over a decade, we have made disciplined inorganic investments to expand our market and fuel organic growth.

In FY23, we had 40,000 AI and data professionals, with roughly 30 people working on a handful of Gen AI projects with negligible revenue. We have worked on more than 6,000 advanced AI projects just this year, and we delivered meaningful revenue in FY25. In FY25, we focused our new actions on the ecosystem, our talent strategy, and our growth model. In FY26, we expect to increase our headcount overall across our three markets, including in the U.S.

What went well
  • Q4 revenue of $17.6B landed at the top of the guided range, up 7% in USD and 4.5% in local currency; excluding a 1.5% federal headwind, Q4 grew 6%, and Accenture took market share at more than 5X its investable basket.
  • Full-year FY25 revenue reached $69.7B (+7% local currency, nearly $5B incremental), with record $80.6B in bookings, a record 129 quarterly client bookings over $100M, and 305 Diamond clients.
  • Advanced AI momentum was strong: Gen AI/Agentic AI revenue tripled year over year to $2.7B and Gen AI bookings nearly doubled to $5.9B, on 6,000+ advanced AI projects and 77,000 AI & data professionals (up from 40,000 in FY23).
  • Adjusted EPS grew 9% in Q4 to $3.03 and 8% for the full year to $12.93, both above original guidance on an adjusted basis.
  • Free cash flow was very strong at $3.8B in Q4 and $10.9B for the year (up 26%), a 1.4 free-cash-flow-to-net-income ratio; the company returned $8.3B to shareholders in FY25 and $1.4B in Q4.
  • Growth was broad-based: security grew 16% for the year, Industry X grew 10%, Song grew 8%, and the capital projects business (now $1.2B) grew 49% largely organically; ecosystem-partner revenue (60% of total) grew 9%.
What went wrong
  • Accenture initiated a six-month business optimization program, recording a $615M charge in Q4 and expecting ~$250M more in Q1 for a total of ~$865M, tied to severance from compressed-timeline headcount reductions and the divestiture of two non-strategic acquisitions.
  • The federal (AFS) business remained a drag: a 1.5% headwind to Q4 growth, a 20bps headwind to full-year growth, with AFS expected to contract mid-teens in Q1 FY26.
  • The macroeconomic backdrop did not improve over FY24, and management said it has seen no meaningful change, positive or negative, in the overall market.
  • Q4 new bookings grew only 3% in local currency (6% USD), lapping a tough 24% growth comparison in the prior-year Q4.
  • Gross margin declined to 31.9% from 32.5% a year earlier, and the adjusted effective tax rate rose to 27.9% in Q4 from 26.2%.
  • Public service revenue declined in both Americas and EMEA, Italy declined in EMEA, and energy declined in Asia Pacific; management also acknowledged that AI value realization has been underwhelming for many and enterprise adoption at scale remains slow outside digital natives.

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Reported 2025-09-25 · figures from the Accenture plc Q4 2025 earnings call.

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