Stock Analysis on Net
Stock Analysis on Net

Accenture PLC (NYSE:ACN)

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Feb 29, 2024 25.92% = 13.70% × 1.89
Nov 30, 2023 25.79% = 13.35% × 1.93
Aug 31, 2023 26.75% = 13.41% × 1.99
May 31, 2023 28.28% = 14.29% × 1.98
Feb 28, 2023 29.20% = 14.54% × 2.01
Nov 30, 2022 30.69% = 14.97% × 2.05
Aug 31, 2022 31.11% = 14.55% × 2.14
May 31, 2022 30.99% = 14.38% × 2.16
Feb 28, 2022 31.09% = 14.42% × 2.16
Nov 30, 2021 30.45% = 14.19% × 2.15
Aug 31, 2021 30.25% = 13.68% × 2.21
May 31, 2021 29.87% = 13.72% × 2.18
Feb 28, 2021 29.81% = 13.65% × 2.18
Nov 30, 2020 29.33% = 13.72% × 2.14
Aug 31, 2020 30.05% = 13.78% × 2.18
May 31, 2020 30.91% = 14.12% × 2.19
Feb 29, 2020 32.13% = 14.84% × 2.17
Nov 30, 2019 32.05% = 14.66% × 2.19
Aug 31, 2019 33.17% = 16.04% × 2.07
May 31, 2019 34.05% = 16.62% × 2.05
Feb 28, 2019 33.53% = 16.33% × 2.05
Nov 30, 2018 33.21% = 15.77% × 2.11
Aug 31, 2018 39.17% = 16.61% × 2.36
May 31, 2018 — = — × 2.37
Feb 28, 2018 — = — × 2.39
Nov 30, 2017 — = — × 2.52

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in return on equity ratio (ROE) over Q2 2024 is the increase in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Feb 29, 2024 25.92% = 10.89% × 1.26 × 1.89
Nov 30, 2023 25.79% = 10.65% × 1.25 × 1.93
Aug 31, 2023 26.75% = 10.72% × 1.25 × 1.99
May 31, 2023 28.28% = 11.27% × 1.27 × 1.98
Feb 28, 2023 29.20% = 10.99% × 1.32 × 2.01
Nov 30, 2022 30.69% = 11.30% × 1.32 × 2.05
Aug 31, 2022 31.11% = 11.17% × 1.30 × 2.14
May 31, 2022 30.99% = 11.12% × 1.29 × 2.16
Feb 28, 2022 31.09% = 11.27% × 1.28 × 2.16
Nov 30, 2021 30.45% = 11.53% × 1.23 × 2.15
Aug 31, 2021 30.25% = 11.69% × 1.17 × 2.21
May 31, 2021 29.87% = 12.05% × 1.14 × 2.18
Feb 28, 2021 29.81% = 11.95% × 1.14 × 2.18
Nov 30, 2020 29.33% = 11.74% × 1.17 × 2.14
Aug 31, 2020 30.05% = 11.52% × 1.20 × 2.18
May 31, 2020 30.91% = 11.11% × 1.27 × 2.19
Feb 29, 2020 32.13% = 11.13% × 1.33 × 2.17
Nov 30, 2019 32.05% = 11.06% × 1.33 × 2.19
Aug 31, 2019 33.17% = 11.06% × 1.45 × 2.07
May 31, 2019 34.05% = 10.93% × 1.52 × 2.05
Feb 28, 2019 33.53% = 10.51% × 1.55 × 2.05
Nov 30, 2018 33.21% = 9.99% × 1.58 × 2.11
Aug 31, 2018 39.17% = 9.76% × 1.70 × 2.36
May 31, 2018 — = — × — × 2.37
Feb 28, 2018 — = — × — × 2.39
Nov 30, 2017 — = — × — × 2.52

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in return on equity ratio (ROE) over Q2 2024 is the increase in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

Accenture PLC, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Feb 29, 2024 25.92% = 0.77 × 0.99 × 14.27% × 1.26 × 1.89
Nov 30, 2023 25.79% = 0.76 × 0.99 × 14.05% × 1.25 × 1.93
Aug 31, 2023 26.75% = 0.76 × 0.99 × 14.12% × 1.25 × 1.99
May 31, 2023 28.28% = 0.77 × 1.00 × 14.70% × 1.27 × 1.98
Feb 28, 2023 29.20% = 0.76 × 1.00 × 14.59% × 1.32 × 2.01
Nov 30, 2022 30.69% = 0.76 × 1.00 × 14.94% × 1.32 × 2.05
Aug 31, 2022 31.11% = 0.76 × 0.99 × 14.83% × 1.30 × 2.14
May 31, 2022 30.99% = 0.76 × 0.99 × 14.79% × 1.29 × 2.16
Feb 28, 2022 31.09% = 0.76 × 0.99 × 14.89% × 1.28 × 2.16
Nov 30, 2021 30.45% = 0.77 × 0.99 × 15.17% × 1.23 × 2.15
Aug 31, 2021 30.25% = 0.77 × 0.99 × 15.31% × 1.17 × 2.21
May 31, 2021 29.87% = 0.77 × 0.99 × 15.87% × 1.14 × 2.18
Feb 28, 2021 29.81% = 0.77 × 0.99 × 15.69% × 1.14 × 2.18
Nov 30, 2020 29.33% = 0.76 × 0.99 × 15.46% × 1.17 × 2.14
Aug 31, 2020 30.05% = 0.76 × 1.00 × 15.18% × 1.20 × 2.18
May 31, 2020 30.91% = 0.76 × 1.00 × 14.60% × 1.27 × 2.19
Feb 29, 2020 32.13% = 0.76 × 1.00 × 14.63% × 1.33 × 2.17
Nov 30, 2019 32.05% = 0.76 × 1.00 × 14.55% × 1.33 × 2.19
Aug 31, 2019 33.17% = 0.77 × 1.00 × 14.36% × 1.45 × 2.07
May 31, 2019 34.05% = 0.77 × 1.00 × 14.25% × 1.52 × 2.05
Feb 28, 2019 33.53% = 0.75 × 1.00 × 14.13% × 1.55 × 2.05
Nov 30, 2018 33.21% = 0.72 × 1.00 × 13.85% × 1.58 × 2.11
Aug 31, 2018 39.17% = 0.72 × 1.00 × 13.64% × 1.70 × 2.36
May 31, 2018 — = — × — × — × — × 2.37
Feb 28, 2018 — = — × — × — × — × 2.39
Nov 30, 2017 — = — × — × — × — × 2.52

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in return on equity ratio (ROE) over Q2 2024 is the increase in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

Accenture PLC, decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Feb 29, 2024 13.70% = 10.89% × 1.26
Nov 30, 2023 13.35% = 10.65% × 1.25
Aug 31, 2023 13.41% = 10.72% × 1.25
May 31, 2023 14.29% = 11.27% × 1.27
Feb 28, 2023 14.54% = 10.99% × 1.32
Nov 30, 2022 14.97% = 11.30% × 1.32
Aug 31, 2022 14.55% = 11.17% × 1.30
May 31, 2022 14.38% = 11.12% × 1.29
Feb 28, 2022 14.42% = 11.27% × 1.28
Nov 30, 2021 14.19% = 11.53% × 1.23
Aug 31, 2021 13.68% = 11.69% × 1.17
May 31, 2021 13.72% = 12.05% × 1.14
Feb 28, 2021 13.65% = 11.95% × 1.14
Nov 30, 2020 13.72% = 11.74% × 1.17
Aug 31, 2020 13.78% = 11.52% × 1.20
May 31, 2020 14.12% = 11.11% × 1.27
Feb 29, 2020 14.84% = 11.13% × 1.33
Nov 30, 2019 14.66% = 11.06% × 1.33
Aug 31, 2019 16.04% = 11.06% × 1.45
May 31, 2019 16.62% = 10.93% × 1.52
Feb 28, 2019 16.33% = 10.51% × 1.55
Nov 30, 2018 15.77% = 9.99% × 1.58
Aug 31, 2018 16.61% = 9.76% × 1.70
May 31, 2018 — = — × —
Feb 28, 2018 — = — × —
Nov 30, 2017 — = — × —

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in return on assets ratio (ROA) over Q2 2024 is the increase in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Accenture PLC, decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Feb 29, 2024 13.70% = 0.77 × 0.99 × 14.27% × 1.26
Nov 30, 2023 13.35% = 0.76 × 0.99 × 14.05% × 1.25
Aug 31, 2023 13.41% = 0.76 × 0.99 × 14.12% × 1.25
May 31, 2023 14.29% = 0.77 × 1.00 × 14.70% × 1.27
Feb 28, 2023 14.54% = 0.76 × 1.00 × 14.59% × 1.32
Nov 30, 2022 14.97% = 0.76 × 1.00 × 14.94% × 1.32
Aug 31, 2022 14.55% = 0.76 × 0.99 × 14.83% × 1.30
May 31, 2022 14.38% = 0.76 × 0.99 × 14.79% × 1.29
Feb 28, 2022 14.42% = 0.76 × 0.99 × 14.89% × 1.28
Nov 30, 2021 14.19% = 0.77 × 0.99 × 15.17% × 1.23
Aug 31, 2021 13.68% = 0.77 × 0.99 × 15.31% × 1.17
May 31, 2021 13.72% = 0.77 × 0.99 × 15.87% × 1.14
Feb 28, 2021 13.65% = 0.77 × 0.99 × 15.69% × 1.14
Nov 30, 2020 13.72% = 0.76 × 0.99 × 15.46% × 1.17
Aug 31, 2020 13.78% = 0.76 × 1.00 × 15.18% × 1.20
May 31, 2020 14.12% = 0.76 × 1.00 × 14.60% × 1.27
Feb 29, 2020 14.84% = 0.76 × 1.00 × 14.63% × 1.33
Nov 30, 2019 14.66% = 0.76 × 1.00 × 14.55% × 1.33
Aug 31, 2019 16.04% = 0.77 × 1.00 × 14.36% × 1.45
May 31, 2019 16.62% = 0.77 × 1.00 × 14.25% × 1.52
Feb 28, 2019 16.33% = 0.75 × 1.00 × 14.13% × 1.55
Nov 30, 2018 15.77% = 0.72 × 1.00 × 13.85% × 1.58
Aug 31, 2018 16.61% = 0.72 × 1.00 × 13.64% × 1.70
May 31, 2018 — = — × — × — × —
Feb 28, 2018 — = — × — × — × —
Nov 30, 2017 — = — × — × — × —

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in return on assets ratio (ROA) over Q2 2024 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Accenture PLC, decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Feb 29, 2024 10.89% = 0.77 × 0.99 × 14.27%
Nov 30, 2023 10.65% = 0.76 × 0.99 × 14.05%
Aug 31, 2023 10.72% = 0.76 × 0.99 × 14.12%
May 31, 2023 11.27% = 0.77 × 1.00 × 14.70%
Feb 28, 2023 10.99% = 0.76 × 1.00 × 14.59%
Nov 30, 2022 11.30% = 0.76 × 1.00 × 14.94%
Aug 31, 2022 11.17% = 0.76 × 0.99 × 14.83%
May 31, 2022 11.12% = 0.76 × 0.99 × 14.79%
Feb 28, 2022 11.27% = 0.76 × 0.99 × 14.89%
Nov 30, 2021 11.53% = 0.77 × 0.99 × 15.17%
Aug 31, 2021 11.69% = 0.77 × 0.99 × 15.31%
May 31, 2021 12.05% = 0.77 × 0.99 × 15.87%
Feb 28, 2021 11.95% = 0.77 × 0.99 × 15.69%
Nov 30, 2020 11.74% = 0.76 × 0.99 × 15.46%
Aug 31, 2020 11.52% = 0.76 × 1.00 × 15.18%
May 31, 2020 11.11% = 0.76 × 1.00 × 14.60%
Feb 29, 2020 11.13% = 0.76 × 1.00 × 14.63%
Nov 30, 2019 11.06% = 0.76 × 1.00 × 14.55%
Aug 31, 2019 11.06% = 0.77 × 1.00 × 14.36%
May 31, 2019 10.93% = 0.77 × 1.00 × 14.25%
Feb 28, 2019 10.51% = 0.75 × 1.00 × 14.13%
Nov 30, 2018 9.99% = 0.72 × 1.00 × 13.85%
Aug 31, 2018 9.76% = 0.72 × 1.00 × 13.64%
May 31, 2018 — = — × — × —
Feb 28, 2018 — = — × — × —
Nov 30, 2017 — = — × — × —

Based on: 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30).

The primary reason for the increase in net profit margin ratio over Q2 2024 is the increase in operating profitability measured by EBIT margin ratio.