AI Takeaway
Accenture (ACN) delivered solid Q2 FY2026 results with revenue growing 8.3% YoY to $18.0B and operating income rising 11.1% to $2.5B, while operating cash flow surged 41.4% year-to-date to $5.5B, reflecting strong business momentum and disciplined cost management.
Revenue
$18.04B
++8.31% YoY
EPS (Basic)
$2.96
++3.86% YoY
Operating Income
$2.49B
++11.09% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
ACN reported Q2 FY2026 revenue of $18.0B, up 8.3% YoY from $16.7B, demonstrating continued demand for its consulting and managed services. This growth outpaced cost of revenue growth of 7.7%, indicating improving operational efficiency.
Source: Source: 10-Q Income Statement
Operating margin improved modestly to 13.82% in Q2 FY2026 from 13.47% in Q2 FY2025, a gain of approximately 35 basis points YoY. Operating income grew 11.1% to $2.5B, outpacing revenue growth and reflecting favorable operating leverage.
Source: Source: 10-Q Income Statement & Key Ratios
Cumulative fiscal year-to-date operating cash flow reached $5.5B, a remarkable 41.4% increase compared to $3.9B in the same period last year, signaling strong cash conversion and working capital management.
Source: Source: 10-Q Cash Flow Statement (YTD cumulative)
2 more insights available
Upgrade to unlockCurrent liabilities surged 22.3% YoY to $21.0B, significantly outpacing the 10.7% growth in current assets. While the current ratio of 1.34 remains above 1.0, the narrowing liquidity cushion could become a concern if business conditions deteriorate or cash conversion slows.
Source: Source: 10-Q Balance Sheet
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $2.93 versus the $2.87 analyst consensus — a +2.1% beat for Q2 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $18.04B | $16.66B | +8.31% |
Cost of Revenue | $12.58B | $11.68B | +7.71% |
Operating Income | $2.49B | $2.24B | +11.09% |
Net Income | $1.83B | $1.79B | +2.08% |
EPS (Basic) | $2.96 | $2.85 | +3.86% |
EPS (Diluted) | $2.93 | $2.82 | +3.90% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $67.06B | $59.87B | +12.02% |
Current Assets | $28.01B | $25.31B | +10.67% |
Current Liabilities | $20.96B | $17.13B | +22.34% |
Stockholders' Equity | $31.21B | $29.25B | +6.72% |
Cash & Equivalents | $9.4B | $8.49B | +10.70% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash FlowYTD | $5.48B | $3.88B | +41.43% |
Investing Cash FlowYTD | $-2.25B | $-792.81M | -183.27% |
Financing Cash FlowYTD | $-5.32B | $546.72M | -1073.88% |
Share BuybacksYTD | $4.01B | $2.35B | +70.91% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 13.8% | 13.5% | +0.34% |
Net Margin | 10.1% | — | — |
ROE | 5.8% | — | — |
ROA | 2.7% | — | — |
Current Ratio | $1.336 | — | — |
Other companies in IT Consulting & Other Services
Accenture reported Q2 FY2026 revenue of $18.0B, up 8.3% YoY, and operating income of $2.5B, up 11.1% YoY. Diluted EPS came in at $2.93, a 3.9% increase from $2.82 in Q2 FY2025, reflecting solid business execution across its consulting and services segments.
ACN's revenue grew 8.3% year-over-year to $18.0B in Q2 FY2026, compared to $16.7B in Q2 FY2025. Cost of revenue grew at a slightly slower pace of 7.7%, contributing to modest margin expansion.
ACN maintains a current ratio of 1.34 and holds $9.4B in cash and equivalents, indicating adequate short-term liquidity. However, current liabilities rose 22.3% YoY to $21.0B, which is worth monitoring alongside the company's aggressive $4.0B YTD share buyback program.
On a fiscal year-to-date basis through Q2 FY2026, ACN generated $5.5B in operating cash flow, a 41.4% increase from $3.9B in the same period last year. This strong cash generation funded $4.0B in share repurchases and $2.2B in investing activities.
Key risks inferred from the Q2 FY2026 financial data include rapidly rising current liabilities (up 22.3% YoY), net income growth of only 2.1% despite stronger operating performance, and a significant increase in investing outflows to -$2.2B YTD suggesting elevated acquisition activity. These factors could pressure liquidity and future earnings if business conditions change.