Accenture plans to return no less than $9.5 billion in cash to shareholders in FY27.

Accenture disclosed its long-term guidance for FY27-FY29 at its Investor Day on October 14: In FY27 and FY28, local currency revenue is expected to grow at a single-digit rate, improving to mid-high single digits in FY29. Operating margin will rise by 10-30 basis points annually over the next three years. The addressable market TAM will expand to 3 trillion dollars. Cash flow targets: FY27 free cash flow/net profit will be 1.2-1.3 times, and FY28-29 not less than 1.1 times. Shareholder returns: In FY27, at least $9.5 billion in cash will be returned to shareholders, including $5.5 billion in buybacks; dividend per share will grow by 5%, with a payout ratio at the upper end of the 40% range. In FY29, the payout ratio will return to the mid-point of the 40% range. Accenture plans to invest about $8 billion in FY27 for acquisitions, with external revenue contribution expected to be 2%-2.5%. Free cash flow for FY26 was $11.6 billion, exceeding prior guidance, and the book-to-bill ratio of 1.1 times demonstrates resilient demand.