Amdocs (DOX) Financial statements
Amdocs reported revenue of $4.5B in fiscal 2025, up 2.2% a year over 9 years.
Key figures
Net income was $565M and the operating margin 16.1%, against 13.0% in 2016. Free cash flow was $645M, and the company returned $224M in dividends and $551M in net buybacks. The diluted share count fell 23% over the period (buybacks).
- Revenue, FY2025
- $4.5B-9.4% on 2024
- Net income
- $565M+14.5% on 2024
- Operating margin
- 16.1%
- Free cash flow
- $645M+4.2% on 2024
Revenue and free cash flow
Fiscal years, from Amdocs's 10-K filings.
Amdocs revenue and free cash flow
FY2016–FY2025Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
Amdocs margins
FY2016–FY2025Financial statements
Fiscal 2016–2025.
Amdocs income statement, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.7B | $3.9B | $4.0B | $4.1B | $4.2B | $4.3B | $4.6B | $4.9B | $5.0B | $4.5B |
| Cost of revenue | $2.4B | $2.5B | $2.6B | $2.7B | $2.8B | $2.8B | $3.0B | $3.2B | $3.2B | $2.8B |
| Gross profit | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B | $1.6B | $1.7B | $1.8B | $1.7B |
| Selling, general and admin | $465M | $473M | $481M | $492M | $459M | $487M | $529M | $571M | $573M | $506M |
| Operating income | $483M | $517M | $428M | $570M | $595M | $599M | $665M | $654M | $629M | $732M |
| Interest expense | $2M | $2M | $3M | $4M | $10M | $21M | $17M | $23M | $35M | — |
| Pre-tax income | $485M | $513M | $422M | $568M | $583M | $814M | $648M | $636M | $591M | $693M |
| Income tax | $75M | $76M | $67M | $88M | $85M | $126M | $99M | $93M | $95M | $125M |
| Net income | $409M | $437M | $354M | $479M | $498M | $688M | $550M | $541M | $493M | $565M |
| EPS (diluted) | $2.71 | $2.96 | $2.47 | $3.47 | $3.71 | $5.32 | $4.44 | $4.49 | $4.25 | $5.05 |
| Diluted shares | 150M | 146M | 143M | 137M | 133M | 128M | 122M | 118M | 115M | — |
| Gross margin | 35.2% | 35.2% | 34.7% | 35.1% | 33.9% | 34.5% | 35.4% | 35.3% | 35.1% | 38.0% |
| Operating margin | 13.0% | 13.4% | 10.8% | 13.9% | 14.3% | 14.0% | 14.5% | 13.4% | 12.6% | 16.1% |
| Net margin | 11.0% | 11.3% | 8.9% | 11.7% | 11.9% | 16.1% | 12.0% | 11.1% | 9.9% | 12.5% |
Amdocs balance sheet, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $980M | $519M | $472M | $984M | $966M | $818M | $743M | $514M | $325M |
| Receivables | $819M | $865M | $972M | $988M | $861M | $867M | $947M | $944M | $1.0B | $936M |
| Total current assets | $2.1B | $2.0B | $1.7B | $1.7B | $2.1B | $2.1B | $2.0B | $1.9B | $1.8B | $1.6B |
| Property, plant and equipment | $332M | $356M | $497M | $525M | $608M | $699M | $794M | $791M | $756M | $769M |
| Goodwill | $2.2B | $2.2B | $2.4B | $2.5B | $2.6B | $2.6B | $2.7B | $2.7B | $2.8B | $2.9B |
| Total assets | $5.3B | $5.3B | $5.3B | $5.3B | $6.3B | $6.5B | $6.4B | $6.4B | $6.4B | $6.2B |
| Total current liabilities | $1.4B | $1.2B | $1.3B | $1.2B | $1.2B | $1.3B | $1.3B | $1.4B | $1.5B | $1.4B |
| Long-term debt | — | $0 | $0 | $0 | $644M | $645M | $645M | $646M | $646M | $647M |
| Total liabilities | $1.9B | $1.7B | $1.9B | $1.8B | $2.7B | $2.9B | $2.8B | $2.9B | $2.9B | $2.8B |
| Shareholders' equity | $3.5B | $3.6B | $3.4B | $3.5B | $3.6B | $3.6B | $3.5B | $3.5B | $3.5B | $3.4B |
| Net debt | -$569M | -$650M | -$419M | -$472M | -$239M | -$65M | $72M | $126M | $300M | $322M |
Amdocs cash flow, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $620M | $636M | $557M | $656M | $658M | $926M | $757M | $823M | $724M | $749M |
| Capital spending | $130M | $133M | $231M | $128M | $206M | $210M | $227M | $124M | $105M | $104M |
| Free cash flow | $490M | $503M | $326M | $528M | $453M | $715M | $530M | $698M | $619M | $645M |
| Stock-based compensation | $43M | $45M | $47M | $39M | $42M | $54M | $72M | $90M | $105M | $105M |
| Dividends paid | $109M | $122M | $134M | $148M | $164M | $177M | $186M | $199M | $212M | $224M |
| Share buybacks (net) | -$413M | -$341M | -$419M | -$398M | -$361M | -$680M | -$508M | -$490M | -$563M | -$551M |
| Net borrowing | — | — | — | — | $644M | $0 | $0 | — | — | — |
| Free cash flow margin | 13.2% | 13.0% | 8.2% | 12.9% | 10.9% | 16.7% | 11.6% | 14.3% | 12.4% | 14.2% |
| Dividends per share | $0.73 | $0.83 | $0.94 | $1.08 | $1.23 | $1.39 | $1.53 | $1.68 | $1.84 | — |
How Amdocs compares
Amdocs's operating margin is higher than 74% of Technology companies and 71% of the 2,822 companies with an operating margin figure.
| Higher than | Technology | All stocks |
|---|---|---|
| Operating margin | 74% | 71% |
| Net margin | 70% | 66% |
| Revenue growth | 6% | 9% |
| ROE | 70% | 75% |
| P/E | 7% | 11% |
Questions about Amdocs
What was Amdocs's revenue in 2025?
$4.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Amdocs generate?
$645M in fiscal 2025 (operating cash flow minus capital spending).
From Amdocs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.