Accenture Lays Out FY27–FY29 Targets: Mid-Single-Digit Growth, 10–30bps Margin Expansion, and Over $9.5B in Capital Returns
ACN sits 82% above its 52-week low of $118.15.
Summary
Accenture's Investor Day presentation sets FY27–FY29 targets: mid-single-digit revenue growth, 10–30bps annual margin expansion, and at least $9.5B in FY27 capital returns including $5.5B of buybacks.
Updates
· Reuters — Accenture expects $5.5B share repurchases in FY27 and dividend per share growth of 5% with payout ratio in high 40s of prior year net income.
Key Events · Earnings and Guidance · ACN
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Three-Year Growth and Margin Roadmap
Guides to mid-single-digit local-currency revenue growth in FY27 and FY28, accelerating to mid-to-high single digits in FY29, with 10–30 bps of operating margin expansion each year.
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FY27 Capital Return Commitment
Plans at least $9.5B returned to shareholders in FY27, including $5.5B of share repurchases and 5% dividend per share growth, with FCF-to-net-income of 1.2–1.3x.
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FY26 Actuals Beat Original Guidance
FY26 revenue reached $74.2B (5% local-currency growth vs 2–5% guided), adjusted EPS of $13.97 (vs $13.52–$13.90 guided), and free cash flow of $11.6B (vs $9.8B–$10.5B guided).
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Expanded TAM to $3 Trillion
Management now estimates Accenture's addressable market at $3 trillion, up from prior estimates, supporting the multi-year growth ambition.
Analysis · ACN · Trade & Services
The Investor Day presentation charts a three-year financial course that builds on the strong FY26 results reported two weeks ago. Management is guiding to mid-single-digit revenue growth in FY27 and FY28, accelerating to mid-to-high single digits in FY29, with 10–30 basis points of annual operating margin expansion each year. The capital return commitment is substantial: at least $9.5 billion in FY27, including $5.5 billion of share repurchases and a 5% dividend per share increase. This follows the $6 billion buyback boost announced on October 1 and the record $11.5 billion returned in FY26. The guidance signals confidence in sustained demand and pricing discipline, though the mid-single-digit growth target is modest relative to Accenture's historical double-digit pace and reflects a more mature, competitive IT services market.
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