ACN · Q3 FY2026
Accenture plc Q3 FY2026 earnings analysis
By SageNoodle ResearchBullish
| Metric | Actual | Estimate | Result |
|---|---|---|---|
| Revenue | $18.72B | $16.47B (yr ago) | Beat |
| EPS | $3.80 | $3.04 (yr ago) | Beat |
| Free Cash Flow | $3.60B (not decision-useful for this company) | $3.02B (yr ago; not decision-useful) | Beat |
| Gross Margin | Not disclosed or meaningful | Not disclosed (yr ago) | Miss |
| Operating Margin (pre-tax margin proxy) | 17.0% | 16.0% (yr ago) | Beat |
What changed
Q3 FY2026 revenue increased 13.7% year over year to $18.72B, while EPS rose 25.0% to $3.80. The pre-tax margin expanded 100 basis points to 17.0%, reversing the margin compression seen in the first half of FY2026 and providing the quarter's clearest positive signal.
Impact on the investment thesis
With no prior SageNoodle valuation, fair value is initiated at $200.32 per share rather than revised. The stronger revenue, EPS and pre-tax margin support a 16.0x base multiple on $12.52 of TTM EPS, but the valuation remains Fairly Valued at the current price.