Accenture grew revenue to USD 74.2bn but kept a thinner equity cushion

Accenture plc, the Irish-domiciled consulting and technology services group, reported revenue of USD 74.2bn for FY2026, up 6.5% from USD 69.7bn. Operating profit rose 11.5% to USD 11.4bn, so the operating margin widened to 15.4% from 14.7%. Net profit reached USD 8.4bn, a gain of 9.0%. Cash ended the year at USD 12.8bn, up 11.8%. All figures are consolidated and in US dollars, for the financial year that ended in August 2026.

The weaker point is the balance sheet. Total assets grew to USD 73.6bn from USD 65.4bn, but equity rose only 1.2% to USD 31.6bn. The equity ratio, the share of assets financed by owners rather than creditors, therefore fell by 4.8 pp to 42.9%. In a services business this usually means assets grew faster than retained earnings, for example through acquisitions or returning cash to shareholders. The accounts do not say which applies here. I would watch how the ratio moves next year. Profit grew, but the cushion beneath it did not.