DOX Technology

Amdocs Limited

$62.43-1.75%

Price as of close on Nov 3, 2026 · Financials updated Nov 3, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: United States
Market cap: 6.5B USD
Enterprise value: 6.8B USD
Full-time employees: 26,969

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: less short-term liquidity (current ratio 1.17 vs a peer median of 1.83)less liquidity (current ratio 1.17 vs peers 1.83)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #372 of 1,612 technology companies (top 24%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 16% in FY Sep 2025, the best of the last 6 years.
Amdocs kept 16% of revenue as operating profit in FY Sep 2025, its highest in the 6 years of filings we have.
Share count shrinking. Shares outstanding down 10% from September 2022 to September 2025.
Amdocs had 10% fewer shares at September 2025 than at September 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Profitable, but revenue is shrinking. More profitable than most peers, but revenue fell 9.4% in the 12 months to September 2025 vs the 12 months before.
Amdocs is more profitable than most peers, yet revenue fell 9.4% in the 12 months to September 2025 vs the 12 months before.
Financials may be out of date. Latest financial period ended 13 months ago.
The latest financial period we have ended 13 months ago, so the scores may not reflect recent results.

StockQuotient Score

64/ 100

Oct 5 64 → Nov 4 64

Valuation

Is the price right?

94/100

Strong

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield
▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield8.4%

SEC filings · 12 months to Sep 2025Reported value30% base weight · Z-score 2.75Sector median: 0.0225 · MAD: 0.0225

EBITDA yield13.9%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 2.69Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield9.6%

SEC filings · 12 months to Sep 2025 · operating cash flow − capital spendingReported value20% base weight · Z-score 2.51Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield51.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

27/100

Weak

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

12-month revenue fell 9.4%

Why

Weaker than most peers on:

▼ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth19.2%

SEC filings · 12 months to Sep 2025Reported value33% base weight · Z-score 0.27Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-0.3%

SEC filings · 3 years to Sep 2025Reported value33% base weight · Z-score -0.65Sector median: 0.0483 · MAD: 0.0793

Revenue growth-9.4%

SEC filings · 12 months to Sep 2025Reported value33% base weight · Z-score -1.77Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

77/100

Moderate

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Operating margin rose 3.6 points to 16.1%

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin16.1%

SEC filings · 12 months to Sep 2025Reported value33% base weight · Z-score 1.39Sector median: 0.0631 · MAD: 0.0710

Return on assets9.0%

SEC filings · 12 months to Sep 2025Reported value33% base weight · Z-score 1.69Sector median: 0.0293 · MAD: 0.0362

Return on invested capital15.4%

SEC filings · 12 months to Sep 2025Reported value33% base weight · Z-score 1.01Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin38.0%

SEC filings · 12 months to Sep 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity16.5%

SEC filings · 12 months to Sep 2025Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 57 → 58

Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.41

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 1.23Sector median: 0.8710 · MAD: 0.3700

Current ratio1.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.96Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.19×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.27Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Amdocs

Is Amdocs getting weaker?: Its latest SEC filing (Dec 15, 2025) was mixed: some things better, some worse: operating margin rose 3.6 points to 16.1%; 12-month revenue fell 9.4%. Its overall score is unchanged at 64/100 since Oct 28, 2026.
How is Amdocs valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 94/100 against 1,711 technology peers. Earnings yield 8.4% vs a peer median of 2.2% (stronger than 92% of peers).Earnings yield 8.4% vs peers 2.2% (stronger than 92% of peers).
Is Amdocs growing?: More slowly than most of its peers. Growth scores 27/100 against 1,711 technology peers. Revenue growth -9.4% vs a peer median of 8.5% (weaker than 88% of peers).Revenue growth -9.4% vs peers 8.5% (weaker than 88% of peers).
How profitable is Amdocs?: More profitable than most of its peers. Profitability scores 77/100 against 1,711 technology peers. Return on assets 9.0% vs a peer median of 2.9% (stronger than 83% of peers).Return on assets 9.0% vs peers 2.9% (stronger than 83% of peers).
How risky is Amdocs?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.41 vs a peer median of 0.87 (stronger than 84% of peers).Beta 0.41 vs peers 0.87 (stronger than 84% of peers). Current ratio 1.17× vs a peer median of 1.83× (weaker than 81% of peers).Current ratio 1.17× vs peers 1.83× (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Sep 30, 2025 · filed Dec 15, 2025 · compared with the year ended Sep 30, 2024

Mixed: some things better, some worse

Operating margin rose 3.6 points to 16.1%
12-month revenue fell 9.4%

	Previous year	Latest year	Change
Revenue (12 months)	5.0B USD	4.5B USD	−9.4%
Net income (12 months)	493.2M USD	564.7M USD	+14.5%
Operating margin	12.6%	16.1%	+3.6 pts
Free cash flow (12 months)	618.9M USD	645.1M USD	+4.2%
Debt	646.3M USD	646.9M USD	+0.1%
Cash	346.1M USD	325.0M USD	−6.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Industry valuation context

Industry: Software - Infrastructure · 71 companies

Valuations in Software - Infrastructure are above their usual range since 2016.

61% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +19% and earnings +22% (medians): prices and earnings moved broadly together.
Median price-to-sales is +97% vs the whole market, against a usual +103%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	34.5%	35.4%	35.3%	35.1%	38.0%	▲ 2.9 pts
Operating margin	14.0%	14.5%	13.4%	12.6%	16.1%	▲ 3.6 pts
Net margin	16.1%	12.0%	11.1%	9.9%	12.5%	▲ 2.6 pts
Return on assets (ROA)	10.6%	8.6%	8.4%	7.7%	9.0%	▲ 1.3 pts
Return on equity (ROE)	19.2%	15.6%	15.3%	14.3%	16.5%	▲ 2.2 pts
Free cash flow margin	16.7%	11.6%	14.3%	12.4%	14.2%	▲ 1.9 pts
Current ratio	1.59×	1.60×	1.41×	1.20×	1.17×	▼ 2.7%
Debt to equity	0.18×	0.18×	0.18×	0.19×	0.19×	▲ 0.9%
Interest coverage	28.14×	39.31×	28.32×	18.02×	17.24×	▼ 4.3%

DOX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: less short-term liquidity (current ratio 1.17 vs a peer median of 1.83)less liquidity (current ratio 1.17 vs peers 1.83)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #372 of 1,612 technology companies (top 24%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 16% in FY Sep 2025, the best of the last 6 years.

Amdocs kept 16% of revenue as operating profit in FY Sep 2025, its highest in the 6 years of filings we have.

Share count shrinking. Shares outstanding down 10% from September 2022 to September 2025.

Amdocs had 10% fewer shares at September 2025 than at September 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Profitable, but revenue is shrinking. More profitable than most peers, but revenue fell 9.4% in the 12 months to September 2025 vs the 12 months before.

Amdocs is more profitable than most peers, yet revenue fell 9.4% in the 12 months to September 2025 vs the 12 months before.

Financials may be out of date. Latest financial period ended 13 months ago.

The latest financial period we have ended 13 months ago, so the scores may not reflect recent results.

Questions investors ask about Amdocs

Is Amdocs getting weaker?

Its latest SEC filing (Dec 15, 2025) was mixed: some things better, some worse: operating margin rose 3.6 points to 16.1%; 12-month revenue fell 9.4%. Its overall score is unchanged at 64/100 since Oct 28, 2026.

How is Amdocs valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 94/100 against 1,711 technology peers. Earnings yield 8.4% vs a peer median of 2.2% (stronger than 92% of peers).Earnings yield 8.4% vs peers 2.2% (stronger than 92% of peers).

Is Amdocs growing?

More slowly than most of its peers. Growth scores 27/100 against 1,711 technology peers. Revenue growth -9.4% vs a peer median of 8.5% (weaker than 88% of peers).Revenue growth -9.4% vs peers 8.5% (weaker than 88% of peers).

How profitable is Amdocs?

More profitable than most of its peers. Profitability scores 77/100 against 1,711 technology peers. Return on assets 9.0% vs a peer median of 2.9% (stronger than 83% of peers).Return on assets 9.0% vs peers 2.9% (stronger than 83% of peers).

How risky is Amdocs?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.41 vs a peer median of 0.87 (stronger than 84% of peers).Beta 0.41 vs peers 0.87 (stronger than 84% of peers). Current ratio 1.17× vs a peer median of 1.83× (weaker than 81% of peers).Current ratio 1.17× vs peers 1.83× (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

5.0B USD

4.5B USD

−9.4%

Net income (12 months)

493.2M USD

564.7M USD

+14.5%

Operating margin

12.6%

16.1%

+3.6 pts

Free cash flow (12 months)

618.9M USD

645.1M USD

+4.2%

Debt

646.3M USD

646.9M USD

+0.1%

Cash

346.1M USD

325.0M USD

−6.1%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

34.5%

35.4%

35.3%

35.1%

38.0%

▲ 2.9 pts

Operating margin

14.0%

14.5%

13.4%

12.6%

16.1%

▲ 3.6 pts

Net margin

16.1%

12.0%

11.1%

9.9%

12.5%

▲ 2.6 pts

Return on assets (ROA)

10.6%

8.6%

8.4%

7.7%

9.0%

▲ 1.3 pts

Return on equity (ROE)

19.2%

15.6%

15.3%

14.3%

16.5%

▲ 2.2 pts

Free cash flow margin

16.7%

11.6%

14.3%

12.4%

14.2%

▲ 1.9 pts

Current ratio

1.59×

1.60×

1.41×

1.20×

1.17×

▼ 2.7%

Debt to equity

0.18×

0.19×

▲ 0.9%

Interest coverage

28.14×

39.31×

28.32×

18.02×

17.24×

▼ 4.3%