Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Return on Sales
Return on Investment
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
The financial data indicates a period of relative stability in profit margins contrasted by a gradual decline in capital efficiency ratios over the analyzed period from November 2021 to August 2026.
- Profit Margin Trends
- The gross profit margin remained remarkably consistent, fluctuating within a narrow band between 31.91% and 32.61%. This suggests a stable relationship between revenue and the direct costs of service delivery.
- Operating and net profit margins exhibited more volatility. A noticeable contraction occurred between February 2023 and November 2023, with the operating margin reaching a low of 13.60% and the net margin dropping to 10.65%. However, a recovery followed, with operating margins returning to approximately 15.38% by May 2025 and August 2026, indicating a successful realignment of operating expenses or improved pricing power.
- Capital Efficiency and Returns
- Return on Equity (ROE) showed a sustained downward trajectory for much of the period. After peaking at 31.11% in August 2022, ROE declined steadily to a low of 24.43% by May 2026, before a final increase to 26.51% in August 2026. This long-term compression suggests that net income growth did not keep pace with the growth of shareholder equity.
- Return on Assets (ROA) mirrored the trend observed in ROE. ROA peaked at 14.97% in November 2022 and generally trended downward to a range between 11.32% and 11.40% by mid-2026. The simultaneous decline in both ROA and ROE points toward a decrease in the overall efficiency of asset utilization to generate profit.
In summary, while the organization maintained its core profitability margins and recovered from a mid-period dip in operating efficiency, there is a clear trend of eroding returns on invested capital and assets over the five-year horizon.
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Gross Profit Margin
| Aug 31, 2026 | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Gross profit | 5,984,784) | 6,134,335) | 5,459,361) | 6,197,118) | 5,610,934) | 5,826,650) | 4,974,988) | 5,822,829) | 5,337,456) | 5,498,451) | 4,878,469) | 5,447,941) | 5,181,629) | 5,529,070) | 4,834,766) | 5,186,142) | 4,946,057) | 5,314,734) | 4,523,959) | 4,916,789) | ||||||
| Revenues | 18,679,110) | 18,718,144) | 18,044,066) | 18,742,125) | 17,596,260) | 17,727,871) | 16,659,301) | 17,689,545) | 16,405,819) | 16,466,828) | 15,799,514) | 16,224,303) | 15,985,200) | 16,564,585) | 15,814,158) | 15,747,802) | 15,423,656) | 16,158,803) | 15,046,693) | 14,965,153) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Gross profit margin1 | 32.05% | 32.01% | 32.03% | 31.97% | 31.91% | 32.07% | 32.18% | 32.45% | 32.61% | 32.58% | 32.58% | 32.50% | 32.34% | 32.25% | 32.12% | 32.02% | 31.99% | 32.26% | 32.30% | 32.35% | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | 89.25% | 89.40% | 89.40% | 89.27% | 89.14% | 89.25% | 89.15% | 89.04% | 88.66% | 88.24% | 88.08% | 87.87% | 87.89% | 87.77% | 87.66% | 87.70% | 87.76% | 87.87% | 88.04% | ||||||
| AppLovin Corp. | — | — | 88.46% | 88.37% | 87.86% | 84.56% | 82.02% | 78.70% | 75.22% | 73.89% | 71.80% | 69.90% | 67.74% | 61.91% | 58.66% | 57.47% | 55.41% | 60.39% | 62.19% | 62.81% | ||||||
| Cadence Design Systems Inc. | — | 85.68% | 85.87% | 86.08% | 86.36% | 85.54% | 85.57% | 85.86% | 86.05% | 87.79% | 88.51% | 89.31% | 89.36% | 89.18% | 89.41% | 89.18% | 89.57% | 89.87% | 89.74% | 89.83% | ||||||
| Datadog Inc. | — | — | 79.51% | 79.89% | 79.96% | 79.94% | 79.92% | 80.14% | 80.79% | 81.22% | 81.55% | 81.39% | 80.74% | 79.99% | 79.33% | 79.25% | 79.30% | 79.30% | 79.00% | 78.04% | ||||||
| International Business Machines Corp. | — | 57.97% | 58.10% | 58.36% | 58.19% | 57.81% | 57.57% | 57.04% | 56.65% | 56.53% | 56.09% | 55.64% | 55.45% | 55.04% | 54.64% | 54.24% | 54.00% | 53.78% | 54.01% | 54.48% | ||||||
| Intuit Inc. | 80.17% | 79.96% | 80.05% | 79.89% | 79.57% | 79.45% | 78.97% | 78.73% | 78.72% | 78.53% | 78.08% | 78.12% | 78.13% | 78.46% | 79.00% | 79.99% | 81.09% | 82.36% | 82.11% | 82.13% | ||||||
| Microsoft Corp. | 67.94% | 68.31% | 68.59% | 68.76% | 68.82% | 69.07% | 69.41% | 69.35% | 69.76% | 69.89% | 69.75% | 69.44% | 68.92% | 68.45% | 68.16% | 68.26% | 68.40% | 68.73% | 68.83% | 68.86% | ||||||
| Oracle Corp. | 65.82% | 67.08% | 68.54% | 69.66% | 70.51% | 71.12% | 71.27% | 71.31% | 71.41% | 71.53% | 71.88% | 72.26% | 72.85% | 74.50% | 76.10% | 77.78% | 79.08% | 79.44% | 79.96% | 80.22% | ||||||
| Palantir Technologies Inc. | — | — | 84.80% | 84.07% | 82.37% | 80.81% | 80.03% | 80.01% | 80.25% | 81.10% | 81.39% | 81.16% | 80.62% | 79.92% | 79.15% | 78.75% | 78.56% | 78.59% | 78.73% | 78.16% | ||||||
| Palo Alto Networks Inc. | 70.36% | 71.94% | 73.50% | 73.47% | 73.41% | 73.56% | 73.86% | 74.17% | 74.35% | 74.43% | 74.05% | 73.35% | 72.29% | 70.80% | 69.77% | 69.06% | 68.76% | 69.34% | 69.63% | 69.77% | ||||||
| Salesforce Inc. | 77.68% | 77.73% | 77.65% | 77.34% | 77.19% | 76.94% | 76.35% | 76.00% | 75.50% | 74.99% | 74.52% | 73.78% | 73.34% | 72.69% | 72.61% | 73.10% | 73.48% | 74.02% | 74.34% | 74.32% | ||||||
| ServiceNow Inc. | — | 73.08% | 74.77% | 76.56% | 77.53% | 78.05% | 78.52% | 78.92% | 79.18% | 79.24% | 79.07% | 78.87% | 78.59% | 78.52% | 78.50% | 78.45% | 78.29% | 77.85% | 77.53% | 77.26% | ||||||
| Synopsys Inc. | — | 72.38% | 73.47% | 75.14% | 76.98% | 79.12% | 79.84% | 79.64% | 79.68% | 80.25% | 79.85% | 79.69% | 79.08% | 78.79% | 78.51% | 78.91% | 79.07% | 79.48% | 80.05% | 79.78% | ||||||
| Workday Inc. | 75.70% | 75.64% | 75.58% | 75.66% | 75.50% | 75.60% | 75.77% | 75.64% | 75.60% | 74.73% | 73.87% | 73.25% | 72.41% | 72.22% | 72.23% | 72.25% | 72.21% | 72.39% | 72.46% | 72.61% | ||||||
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
1 Q4 2026 Calculation
Gross profit margin = 100
× (Gross profitQ4 2026
+ Gross profitQ3 2026
+ Gross profitQ2 2026
+ Gross profitQ1 2026)
÷ (RevenuesQ4 2026
+ RevenuesQ3 2026
+ RevenuesQ2 2026
+ RevenuesQ1 2026)
= 100 × (5,984,784 + 6,134,335 + 5,459,361 + 6,197,118)
÷ (18,679,110 + 18,718,144 + 18,044,066 + 18,742,125)
= 32.05%
2 Click competitor name to see calculations.
The analysis of quarterly profitability reveals a high degree of stability in the gross profit margin, which consistently fluctuates within a narrow range between 31.91% and 32.61% throughout the observed period. This indicates a consistent relationship between revenue generation and the direct costs associated with service delivery.
- Revenue and Gross Profit Trajectory
- A sustained upward trend in absolute values is observed. Revenues increased from approximately 14.97 billion US dollars in November 2021 to 18.68 billion US dollars by August 2026. In alignment with this growth, gross profit rose from 4.92 billion US dollars to 5.98 billion US dollars. The synchronization of these two metrics confirms that the expansion in scale has been managed without significant erosion of the profit base.
- Margin Fluctuations and Peak Performance
- The gross profit margin exhibited a slight initial decline, reaching a local low of 31.99% in August 2022. This was followed by a period of gradual improvement, with the margin peaking at 32.61% in August 2024. This upward movement suggests a phase of enhanced operational efficiency or a favorable shift in the mix of services provided during that interval.
- Recent Trends and Stabilization
- Following the peak in 2024, a downward correction occurred, with the margin dipping to 31.91% in May 2025. However, the metric demonstrated resilience, stabilizing and recovering to 32.05% by August 2026. The overall pattern reflects a mature margin profile, where the business maintains a tight corridor of profitability regardless of the quarterly volume of revenue.
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Operating Profit Margin
| Aug 31, 2026 | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Operating income | 2,863,417) | 3,175,298) | 2,493,547) | 2,873,698) | 2,049,691) | 2,982,782) | 2,244,714) | 2,948,477) | 2,353,668) | 2,630,865) | 2,046,427) | 2,564,887) | 1,912,920) | 2,359,288) | 1,944,581) | 2,593,100) | 2,268,189) | 2,603,118) | 2,061,580) | 2,434,294) | ||||||
| Revenues | 18,679,110) | 18,718,144) | 18,044,066) | 18,742,125) | 17,596,260) | 17,727,871) | 16,659,301) | 17,689,545) | 16,405,819) | 16,466,828) | 15,799,514) | 16,224,303) | 15,985,200) | 16,564,585) | 15,814,158) | 15,747,802) | 15,423,656) | 16,158,803) | 15,046,693) | 14,965,153) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Operating profit margin1 | 15.38% | 14.49% | 14.42% | 14.35% | 14.68% | 15.38% | 15.14% | 15.04% | 14.79% | 14.20% | 13.76% | 13.60% | 13.74% | 14.42% | 14.90% | 15.27% | 15.21% | 15.20% | 15.12% | 15.19% | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | 35.70% | 36.07% | 36.65% | 36.63% | 36.25% | 36.37% | 36.29% | 31.35% | 31.16% | 30.51% | 29.95% | 34.26% | 33.95% | 33.64% | 33.91% | 34.64% | 35.45% | 36.25% | 36.72% | ||||||
| AppLovin Corp. | — | — | 77.44% | 77.09% | 75.75% | 67.07% | 58.94% | 49.35% | 39.78% | 35.78% | 29.99% | 25.56% | 19.74% | 11.75% | 7.61% | 4.86% | -1.70% | 1.14% | 0.99% | 0.38% | ||||||
| Cadence Design Systems Inc. | — | 28.92% | 30.33% | 28.25% | 28.17% | 28.50% | 27.71% | 30.00% | 29.10% | 28.26% | 28.19% | 28.91% | 30.59% | 28.71% | 28.78% | 29.26% | 30.15% | 30.81% | 30.20% | 28.35% | ||||||
| Datadog Inc. | — | — | 0.41% | -0.67% | -1.29% | -1.38% | -0.61% | 1.05% | 2.02% | 2.86% | 2.01% | 0.60% | -1.57% | -4.77% | -6.48% | -5.80% | -3.50% | -1.02% | 0.79% | 0.34% | ||||||
| International Business Machines Corp. | — | 17.29% | 17.29% | 17.75% | 17.50% | 17.08% | 16.08% | 15.34% | 14.95% | 15.09% | 15.46% | 15.13% | 15.17% | 14.58% | 13.88% | 13.49% | 13.50% | 12.92% | 12.77% | 12.30% | ||||||
| Intuit Inc. | 27.43% | 27.47% | 27.08% | 26.69% | 26.14% | 24.38% | 22.24% | 21.66% | 22.29% | 24.02% | 23.00% | 22.86% | 21.86% | 21.67% | 19.48% | 18.41% | 20.20% | 23.68% | 22.49% | 24.10% | ||||||
| Microsoft Corp. | 46.78% | 46.80% | 46.67% | 46.27% | 45.62% | 45.23% | 44.96% | 44.49% | 44.64% | 44.70% | 44.17% | 43.01% | 41.77% | 40.85% | 40.58% | 41.69% | 42.06% | 42.56% | 42.52% | 42.14% | ||||||
| Oracle Corp. | 30.59% | 30.56% | 30.28% | 30.44% | 30.80% | 30.93% | 30.30% | 29.82% | 28.99% | 28.20% | 27.73% | 27.01% | 26.21% | 28.06% | 30.42% | 22.92% | 25.74% | 26.22% | 26.62% | 37.78% | ||||||
| Palantir Technologies Inc. | — | — | 42.80% | 38.13% | 31.59% | 21.81% | 16.55% | 13.02% | 10.83% | 13.80% | 11.78% | 8.43% | 5.39% | 1.71% | -3.22% | -5.93% | -8.46% | -11.05% | -13.30% | -20.43% | ||||||
| Palo Alto Networks Inc. | 6.05% | 9.62% | 14.37% | 13.24% | 13.48% | 11.09% | 10.99% | 9.11% | 8.52% | 8.97% | 7.98% | 8.15% | 5.62% | 2.30% | 0.37% | -1.56% | -3.43% | -5.12% | -6.74% | -7.51% | ||||||
| Salesforce Inc. | 20.06% | 20.54% | 20.22% | 19.27% | 19.01% | 18.84% | 18.14% | 17.65% | 14.38% | 11.03% | 8.18% | 4.42% | 3.29% | 1.64% | 0.26% | 0.77% | 2.07% | 3.67% | 4.69% | 4.25% | ||||||
| ServiceNow Inc. | — | 9.68% | 11.40% | 13.44% | 13.74% | 13.85% | 13.28% | 12.93% | 12.42% | 12.04% | 10.78% | 10.02% | 8.49% | 7.64% | 6.32% | 5.41% | 4.90% | 3.40% | 3.30% | 3.95% | ||||||
| Synopsys Inc. | — | 8.52% | 7.03% | 10.82% | 12.97% | 17.16% | 20.88% | 20.67% | 22.13% | 24.22% | 23.31% | 22.80% | 21.72% | 19.11% | 18.81% | 20.70% | 22.87% | 22.93% | 23.18% | 20.72% | ||||||
| Workday Inc. | 7.55% | 6.73% | 5.88% | 4.48% | 4.91% | 5.13% | 4.34% | 3.53% | 2.52% | 0.22% | -1.47% | -2.62% | -3.57% | -3.94% | -3.24% | -2.80% | -2.27% | -1.81% | -2.71% | -3.18% | ||||||
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
1 Q4 2026 Calculation
Operating profit margin = 100
× (Operating incomeQ4 2026
+ Operating incomeQ3 2026
+ Operating incomeQ2 2026
+ Operating incomeQ1 2026)
÷ (RevenuesQ4 2026
+ RevenuesQ3 2026
+ RevenuesQ2 2026
+ RevenuesQ1 2026)
= 100 × (2,863,417 + 3,175,298 + 2,493,547 + 2,873,698)
÷ (18,679,110 + 18,718,144 + 18,044,066 + 18,742,125)
= 15.38%
2 Click competitor name to see calculations.
The operating profit margin demonstrates a pattern of cyclical volatility with a general tendency to revert to a baseline between 14% and 15%. While revenues exhibit a steady long-term growth trajectory, increasing from approximately 14.97 billion USD in November 2021 to 18.68 billion USD by August 2026, the operating margin does not follow a linear progression, indicating fluctuations in operational efficiency and cost management.
- Margin Contraction Phase
- A period of margin compression is observed starting in February 2023, where the ratio declined from 14.90% to a low of 13.60% by November 2023. This downward trend occurred despite relatively stable revenues, suggesting an increase in operating expenses relative to income during this timeframe.
- Recovery and Peak Performance
- A significant recovery is noted between February 2024 and May 2024, with the operating profit margin ascending from 13.76% to 15.38%. This represents the highest efficiency peak in the latter half of the analyzed period, coinciding with a rise in quarterly operating income to 2.98 billion USD.
- Secondary Volatility and Stabilization
- Following the May 2024 peak, the margin experienced a secondary dip to 14.35% in November 2024. However, the ratio regained strength toward the end of the period, ending at 15.38% in August 2026. The recurring fluctuations suggest a seasonal or cyclical impact on operating costs.
- Revenue and Income Correlation
- The relationship between revenue growth and operating income indicates that while the scale of operations has expanded significantly, profit margins have remained range-bound. The ability to maintain a margin above 13% across all quarters suggests a resilient operational structure, though the lack of margin expansion despite increased revenue indicates that operating leverage has remained constant.
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Net Profit Margin
| Aug 31, 2026 | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income attributable to Accenture plc | 1,991,267) | 2,338,989) | 1,825,239) | 2,211,561) | 1,413,963) | 2,197,501) | 1,788,075) | 2,278,894) | 1,684,301) | 1,932,183) | 1,674,859) | 1,973,444) | 1,372,963) | 2,009,996) | 1,523,648) | 1,964,950) | 1,665,128) | 1,786,075) | 1,634,942) | 1,791,024) | ||||||
| Revenues | 18,679,110) | 18,718,144) | 18,044,066) | 18,742,125) | 17,596,260) | 17,727,871) | 16,659,301) | 17,689,545) | 16,405,819) | 16,466,828) | 15,799,514) | 16,224,303) | 15,985,200) | 16,564,585) | 15,814,158) | 15,747,802) | 15,423,656) | 16,158,803) | 15,046,693) | 14,965,153) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Net profit margin1 | 11.28% | 10.66% | 10.61% | 10.76% | 11.02% | 11.61% | 11.43% | 11.41% | 11.19% | 10.78% | 10.89% | 10.65% | 10.72% | 11.27% | 10.99% | 11.30% | 11.17% | 11.12% | 11.27% | 11.53% | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | 28.05% | 28.69% | 29.48% | 30.00% | 30.01% | 30.39% | 30.63% | 25.85% | 25.59% | 24.86% | 24.08% | 27.97% | 27.12% | 26.34% | 26.32% | 27.01% | 28.00% | 29.29% | 29.90% | ||||||
| AppLovin Corp. | — | — | 64.58% | 64.29% | 60.83% | 54.48% | 48.70% | 39.92% | 33.55% | 26.87% | 20.91% | 16.48% | 10.87% | 3.46% | 0.70% | -2.82% | -6.84% | -2.82% | -3.61% | -2.46% | ||||||
| Cadence Design Systems Inc. | — | 22.51% | 23.61% | 21.18% | 20.94% | 20.35% | 19.88% | 22.19% | 22.74% | 23.87% | 25.36% | 25.68% | 25.46% | 24.42% | 23.41% | 23.23% | 23.84% | 22.86% | 23.61% | 23.59% | ||||||
| Datadog Inc. | — | — | 4.48% | 3.69% | 3.14% | 3.32% | 4.13% | 5.85% | 6.85% | 7.58% | 6.81% | 5.11% | 2.28% | -1.72% | -4.38% | -4.68% | -2.99% | -0.91% | 0.48% | 0.17% | ||||||
| International Business Machines Corp. | — | 15.99% | 15.52% | 15.61% | 15.69% | 12.09% | 9.11% | 8.71% | 9.60% | 10.22% | 13.52% | 13.18% | 12.13% | 11.32% | 3.34% | 3.03% | 2.71% | 2.08% | 9.36% | 9.46% | ||||||
| Intuit Inc. | 21.29% | 21.91% | 21.57% | 21.19% | 20.55% | 19.07% | 17.69% | 17.59% | 18.19% | 19.43% | 18.35% | 17.53% | 16.59% | 15.91% | 14.22% | 14.10% | 16.23% | 19.44% | 19.03% | 20.28% | ||||||
| Microsoft Corp. | 40.31% | 39.34% | 39.04% | 35.71% | 36.15% | 35.79% | 35.43% | 35.61% | 35.96% | 36.43% | 36.27% | 35.31% | 34.15% | 33.25% | 33.05% | 34.37% | 36.69% | 37.63% | 38.50% | 38.51% | ||||||
| Oracle Corp. | 25.37% | 25.30% | 25.28% | 21.08% | 21.68% | 21.80% | 21.16% | 20.40% | 19.76% | 20.27% | 19.63% | 18.40% | 17.02% | 17.46% | 19.09% | 13.15% | 15.83% | 18.08% | 24.79% | 34.16% | ||||||
| Palantir Technologies Inc. | — | — | 49.00% | 43.67% | 36.31% | 28.11% | 22.18% | 18.32% | 16.13% | 18.01% | 16.32% | 12.79% | 9.43% | 6.93% | -2.35% | -12.87% | -19.61% | -30.64% | -30.90% | -30.25% | ||||||
| Palo Alto Networks Inc. | 2.67% | 7.95% | 12.96% | 11.69% | 12.30% | 13.95% | 14.64% | 32.99% | 32.11% | 31.41% | 30.24% | 8.52% | 6.38% | 3.32% | 0.56% | -2.46% | -4.85% | -7.54% | -9.50% | -11.20% | ||||||
| Salesforce Inc. | 17.96% | 17.91% | 16.87% | 16.08% | 16.35% | 15.96% | 15.44% | 15.30% | 11.87% | 7.63% | 4.77% | 1.18% | 0.66% | 0.92% | 1.83% | 3.59% | 5.45% | 6.96% | 9.99% | 19.87% | ||||||
| ServiceNow Inc. | — | 9.36% | 11.34% | 12.59% | 13.16% | 13.67% | 13.78% | 13.41% | 12.97% | 12.77% | 11.51% | 20.34% | 19.30% | 18.72% | 17.76% | 5.25% | 4.49% | 2.90% | 2.79% | 3.56% | ||||||
| Synopsys Inc. | — | 11.43% | 8.91% | 13.76% | 18.89% | 31.04% | 34.77% | 34.75% | 36.94% | 24.60% | 23.57% | 23.49% | 21.05% | 18.71% | 17.41% | 18.22% | 19.38% | 20.86% | 21.19% | 20.18% | ||||||
| Workday Inc. | 7.26% | 6.95% | 6.51% | 5.60% | 6.23% | 19.87% | 19.60% | 19.67% | 19.02% | 0.96% | -1.81% | -4.09% | -5.90% | -5.29% | -3.46% | -0.49% | 0.57% | 0.63% | -0.79% | -3.81% | ||||||
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
1 Q4 2026 Calculation
Net profit margin = 100
× (Net income attributable to Accenture plcQ4 2026
+ Net income attributable to Accenture plcQ3 2026
+ Net income attributable to Accenture plcQ2 2026
+ Net income attributable to Accenture plcQ1 2026)
÷ (RevenuesQ4 2026
+ RevenuesQ3 2026
+ RevenuesQ2 2026
+ RevenuesQ1 2026)
= 100 × (1,991,267 + 2,338,989 + 1,825,239 + 2,211,561)
÷ (18,679,110 + 18,718,144 + 18,044,066 + 18,742,125)
= 11.28%
2 Click competitor name to see calculations.
The net profit margin exhibits a pattern of relative stability characterized by narrow fluctuations between a high of 11.61% and a low of 10.61% over the observed period. While revenues grew consistently from approximately 14.97 billion USD in November 2021 to 18.68 billion USD by August 2026, the net profit margin did not experience a corresponding linear expansion, indicating that cost structures scaled proportionally with top-line growth.
- Margin Trend Analysis
- A period of gradual margin compression is observed from November 2021 through November 2023, during which the ratio declined from 11.53% to 10.65%. This trend reversed starting in February 2024, leading to a peak profitability of 11.61% in May 2025. A subsequent sharp contraction occurred between May 2025 and February 2026, where the margin dropped to its lowest point of 10.61%, before recovering to 11.28% by August 2026.
- Revenue Scaling and Profitability
- The correlation between increasing revenues and the net profit margin suggests a business model with high variable costs. Despite the increase in quarterly revenue by approximately 24.8% over the full period, the profit margin remained within a tight 100-basis-point band for much of the timeline. This suggests that the company maintained a consistent efficiency ratio even as the scale of operations expanded.
- Cyclicality and Volatility
- Periodic volatility is evident, with notable dips appearing in the August and February cycles. For instance, margins reached local lows in August 2023 (10.72%) and February 2026 (10.61%). These recurring fluctuations may point to seasonal operational expenses or periodic adjustments in the cost of service delivery that offset revenue gains in those specific quarters.
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Return on Equity (ROE)
| Aug 31, 2026 | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income attributable to Accenture plc | 1,991,267) | 2,338,989) | 1,825,239) | 2,211,561) | 1,413,963) | 2,197,501) | 1,788,075) | 2,278,894) | 1,684,301) | 1,932,183) | 1,674,859) | 1,973,444) | 1,372,963) | 2,009,996) | 1,523,648) | 1,964,950) | 1,665,128) | 1,786,075) | 1,634,942) | 1,791,024) | ||||||
| Total Accenture plc shareholders’ equity | 31,567,256) | 31,890,566) | 31,210,676) | 30,867,503) | 31,195,446) | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROE1 | 26.51% | 24.43% | 24.51% | 24.66% | 24.61% | 26.01% | 26.27% | 25.93% | 25.68% | 25.06% | 25.92% | 25.79% | 26.75% | 28.28% | 29.20% | 30.69% | 31.11% | 30.99% | 31.09% | 30.45% | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | 61.92% | 62.76% | 63.05% | 61.34% | 59.11% | 60.00% | 51.55% | 39.42% | 36.85% | 34.22% | 31.05% | 32.86% | 32.46% | 32.71% | 33.35% | 33.85% | 33.49% | 34.96% | 35.04% | ||||||
| AppLovin Corp. | — | — | 139.42% | 167.67% | 156.17% | 192.05% | 208.17% | 333.67% | 144.96% | 122.87% | 101.50% | 78.59% | 28.39% | 9.58% | 1.32% | -4.32% | -10.13% | -4.35% | -5.53% | -3.44% | ||||||
| Cadence Design Systems Inc. | — | 20.08% | 20.09% | 17.85% | 20.26% | 20.41% | 20.21% | 22.64% | 22.58% | 22.77% | 24.77% | 29.35% | 30.58% | 30.75% | 30.59% | 29.09% | 30.93% | 28.99% | 29.53% | 26.96% | ||||||
| Datadog Inc. | — | — | 4.07% | 3.40% | 2.89% | 3.10% | 3.90% | 5.68% | 6.77% | 7.31% | 6.77% | 5.23% | 2.40% | -1.91% | -5.04% | -5.55% | -3.56% | -1.08% | 0.54% | 0.18% | ||||||
| International Business Machines Corp. | — | 31.43% | 31.13% | 32.61% | 32.45% | 28.34% | 21.20% | 20.36% | 22.06% | 26.17% | 35.09% | 35.17% | 33.29% | 30.00% | 9.12% | 8.48% | 7.47% | 6.29% | 28.79% | 28.98% | ||||||
| Intuit Inc. | 24.04% | 22.22% | 22.78% | 21.31% | 19.63% | 17.23% | 16.92% | 16.10% | 16.07% | 16.38% | 16.38% | 15.21% | 13.81% | 12.73% | 12.28% | 11.69% | 12.57% | 14.75% | 13.93% | 21.49% | ||||||
| Microsoft Corp. | 30.23% | 30.22% | 30.51% | 28.90% | 29.65% | 30.02% | 30.64% | 31.46% | 32.83% | 34.04% | 34.64% | 34.93% | 35.09% | 35.45% | 36.83% | 40.21% | 43.68% | 44.47% | 44.49% | 44.67% | ||||||
| Oracle Corp. | 40.20% | 42.11% | 51.50% | 51.51% | 60.84% | 72.68% | 84.56% | 101.48% | 120.26% | 189.26% | 262.21% | 395.57% | 792.45% | — | — | — | — | — | — | — | ||||||
| Palantir Technologies Inc. | — | — | 30.86% | 27.00% | 22.00% | 16.62% | 12.87% | 10.52% | 9.24% | 10.59% | 9.99% | 7.91% | 6.04% | 4.62% | -1.63% | -9.38% | -14.57% | -23.50% | -22.95% | -21.07% | ||||||
| Palo Alto Networks Inc. | 1.12% | 3.05% | 13.65% | 12.89% | 14.49% | 17.12% | 19.68% | 46.25% | 49.86% | 54.78% | 52.25% | 28.28% | 25.15% | 17.47% | 4.71% | -28.23% | -127.14% | -115.40% | -391.77% | -98.34% | ||||||
| Salesforce Inc. | 12.61% | 12.03% | 10.86% | 10.23% | 10.13% | 10.14% | 9.77% | 9.17% | 6.93% | 4.46% | 2.72% | 0.66% | 0.36% | 0.47% | 0.89% | 1.70% | 2.48% | 3.05% | 4.24% | 10.44% | ||||||
| ServiceNow Inc. | — | 11.03% | 13.34% | 14.98% | 13.48% | 15.32% | 15.19% | 15.17% | 14.83% | 14.38% | 13.22% | 23.78% | 22.69% | 22.08% | 20.56% | 7.14% | 6.46% | 4.44% | 4.39% | 5.58% | ||||||
| Synopsys Inc. | — | 3.46% | 2.54% | 3.61% | 4.70% | 7.23% | 21.82% | 22.68% | 25.17% | 19.44% | 19.94% | 21.10% | 20.01% | 17.36% | 15.79% | 16.72% | 17.85% | 18.42% | 18.13% | 16.87% | ||||||
| Workday Inc. | 8.88% | 7.23% | 6.36% | 5.46% | 5.82% | 18.79% | 18.47% | 18.23% | 17.09% | 1.01% | -1.94% | -4.45% | -6.57% | -5.81% | -3.83% | -0.55% | 0.65% | 0.73% | -0.95% | -5.01% | ||||||
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
1 Q4 2026 Calculation
ROE = 100
× (Net income attributable to Accenture plcQ4 2026
+ Net income attributable to Accenture plcQ3 2026
+ Net income attributable to Accenture plcQ2 2026
+ Net income attributable to Accenture plcQ1 2026)
÷ Total Accenture plc shareholders’ equity
= 100 × (1,991,267 + 2,338,989 + 1,825,239 + 2,211,561)
÷ 31,567,256 = 26.51%
2 Click competitor name to see calculations.
The Return on Equity (ROE) exhibits a distinct downward trajectory over the observed period, transitioning from a high plateau between 30% and 31% in late 2021 and 2022 to a stabilized range between 24% and 26% by mid-2026. This compression occurs despite a simultaneous increase in both absolute net income and total shareholders' equity.
- Equity Base Expansion
- Total shareholders' equity demonstrates consistent and steady growth, increasing from US$ 20.35 billion in November 2021 to US$ 31.57 billion by August 2026. This represents a substantial and uninterrupted expansion of the company's capital base.
- Net Income Performance
- Net income attributable to the company displays significant quarterly volatility but follows a general upward trend. Earnings rose from US$ 1.79 billion in November 2021 to US$ 1.99 billion in August 2026, with peak performance reaching US$ 2.34 billion in May 2026.
- Efficiency and ROE Compression
- The decline in ROE from a peak of 31.11% in August 2022 to a low of 24.43% in May 2026 indicates that the growth in the equity base has outpaced the growth in net income. While absolute profitability has improved, the efficiency of generating profit relative to shareholders' equity has diminished over time.
- Stabilization Phase
- Following a period of steady decline between February 2023 and May 2024, the ROE entered a stabilization phase. From August 2024 through August 2026, the ratio fluctuated within a narrow corridor of approximately 24% to 26%, suggesting a new equilibrium between earnings growth and equity accumulation.
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Return on Assets (ROA)
| Aug 31, 2026 | May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net income attributable to Accenture plc | 1,991,267) | 2,338,989) | 1,825,239) | 2,211,561) | 1,413,963) | 2,197,501) | 1,788,075) | 2,278,894) | 1,684,301) | 1,932,183) | 1,674,859) | 1,973,444) | 1,372,963) | 2,009,996) | 1,523,648) | 1,964,950) | 1,665,128) | 1,786,075) | 1,634,942) | 1,791,024) | ||||||
| Total assets | 73,597,792) | 68,806,561) | 67,064,216) | 64,698,463) | 65,394,897) | 63,362,028) | 59,869,756) | 59,868,070) | 55,932,363) | 54,141,319) | 51,307,471) | 51,531,354) | 51,245,305) | 50,128,275) | 47,727,289) | 47,115,774) | 47,263,390) | 46,095,198) | 44,317,837) | 43,674,743) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROA1 | 11.37% | 11.32% | 11.40% | 11.76% | 11.74% | 12.55% | 12.83% | 12.64% | 12.99% | 12.84% | 13.70% | 13.35% | 13.41% | 14.29% | 14.54% | 14.97% | 14.55% | 14.38% | 14.42% | 14.19% | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | 24.30% | 24.15% | 24.27% | 24.17% | 24.19% | 24.44% | 22.54% | 18.39% | 17.97% | 16.93% | 16.70% | 18.23% | 17.60% | 17.44% | 17.76% | 17.51% | 18.00% | 18.57% | 18.58% | ||||||
| AppLovin Corp. | — | — | 53.33% | 51.42% | 45.92% | 44.63% | 40.77% | 33.64% | 26.92% | 21.18% | 15.69% | 11.35% | 6.66% | 2.10% | 0.37% | -1.39% | -3.30% | -1.41% | -1.78% | -1.12% | ||||||
| Cadence Design Systems Inc. | — | 11.29% | 11.41% | 9.68% | 10.92% | 11.05% | 10.64% | 12.00% | 11.76% | 11.34% | 14.61% | 18.30% | 18.36% | 17.63% | 17.26% | 16.54% | 16.53% | 15.80% | 17.77% | 16.93% | ||||||
| Datadog Inc. | — | — | 2.35% | 1.95% | 1.62% | 1.76% | 2.14% | 2.76% | 3.18% | 4.15% | 3.70% | 2.78% | 1.23% | -0.97% | -2.51% | -2.67% | -1.67% | -0.50% | 0.25% | 0.08% | ||||||
| International Business Machines Corp. | — | 7.21% | 7.05% | 6.88% | 6.97% | 5.40% | 3.93% | 3.76% | 4.39% | 4.76% | 6.30% | 5.96% | 5.55% | 5.35% | 1.53% | 1.37% | 1.29% | 1.00% | 4.38% | 4.14% | ||||||
| Intuit Inc. | 12.41% | 11.66% | 12.66% | 12.41% | 10.47% | 9.48% | 9.59% | 8.79% | 9.22% | 9.73% | 9.33% | 9.07% | 8.58% | 7.74% | 7.15% | 6.93% | 7.45% | 8.77% | 8.26% | 14.07% | ||||||
| Microsoft Corp. | 17.64% | 18.04% | 17.93% | 16.49% | 16.45% | 17.18% | 17.37% | 17.31% | 17.21% | 17.80% | 17.54% | 17.29% | 17.56% | 18.16% | 18.50% | 19.40% | 19.94% | 21.03% | 20.91% | 20.24% | ||||||
| Oracle Corp. | 6.53% | 6.61% | 7.52% | 6.89% | 7.39% | 7.53% | 7.83% | 7.61% | 7.42% | 7.76% | 7.55% | 6.86% | 6.33% | 6.36% | 6.85% | 4.46% | 6.15% | 6.96% | 9.60% | 11.35% | ||||||
| Palantir Technologies Inc. | — | — | 25.83% | 22.37% | 18.26% | 13.50% | 10.36% | 8.47% | 7.29% | 8.26% | 7.79% | 6.21% | 4.64% | 3.51% | -1.21% | -6.94% | -10.80% | -16.90% | -16.42% | -15.01% | ||||||
| Palo Alto Networks Inc. | 0.63% | 1.82% | 5.13% | 4.75% | 4.81% | 5.63% | 5.99% | 13.42% | 12.89% | 13.65% | 12.45% | 4.15% | 3.03% | 1.52% | 0.26% | -1.14% | -2.18% | -3.51% | -4.44% | -4.89% | ||||||
| Salesforce Inc. | 6.64% | 7.59% | 6.83% | 6.29% | 6.02% | 6.49% | 6.11% | 5.69% | 4.14% | 2.85% | 1.71% | 0.41% | 0.21% | 0.30% | 0.57% | 1.08% | 1.52% | 1.99% | 2.65% | 6.85% | ||||||
| ServiceNow Inc. | — | 4.54% | 5.27% | 7.21% | 6.71% | 7.94% | 7.53% | 7.33% | 6.99% | 7.25% | 6.29% | 10.99% | 9.96% | 10.51% | 9.54% | 2.94% | 2.44% | 1.81% | 1.66% | 2.03% | ||||||
| Synopsys Inc. | — | 2.26% | 1.65% | 2.33% | 2.76% | 4.14% | 9.11% | 16.18% | 17.31% | 12.86% | 12.96% | 13.33% | 11.90% | 10.42% | 9.40% | 9.85% | 10.45% | 11.07% | 10.95% | 10.21% | ||||||
| Workday Inc. | 3.83% | 3.62% | 3.25% | 2.83% | 2.93% | 9.87% | 9.49% | 9.33% | 8.39% | 0.48% | -0.89% | -2.00% | -2.72% | -2.54% | -1.48% | -0.21% | 0.28% | 0.33% | -0.40% | -1.98% | ||||||
Based on: 10-K (reporting date: 2026-08-31), 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 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).
1 Q4 2026 Calculation
ROA = 100
× (Net income attributable to Accenture plcQ4 2026
+ Net income attributable to Accenture plcQ3 2026
+ Net income attributable to Accenture plcQ2 2026
+ Net income attributable to Accenture plcQ1 2026)
÷ Total assets
= 100 × (1,991,267 + 2,338,989 + 1,825,239 + 2,211,561)
÷ 73,597,792 = 11.37%
2 Click competitor name to see calculations.
An analysis of the profitability metrics from November 30, 2021, through August 31, 2026, reveals a consistent expansion of the asset base paired with a gradual decline in the efficiency of those assets in generating net income.
- Asset Base Expansion
- Total assets demonstrated a steady and significant upward trajectory, increasing from 43.67 billion USD in November 2021 to 73.60 billion USD by August 2026. This represents a substantial growth in the balance sheet size over the analyzed period, with growth remaining consistent across almost every quarter.
- Net Income Performance
- Net income attributable to Accenture plc exhibited periodic volatility but maintained an overall positive trend in nominal terms. While quarterly earnings fluctuated—ranging from lows of approximately 1.37 billion USD in August 2023 to highs of 2.34 billion USD in May 2026—the overall capacity to generate profit increased. However, the growth rate of net income did not keep pace with the growth rate of total assets.
- Return on Assets (ROA) Trend
- The ROA followed a clear downward trend over the long term. Efficiency peaked in November 2022 at 14.97%, after which a gradual compression began. Between November 2022 and August 2026, the ROA declined to 11.37%. This contraction indicates that while the company is generating more total profit, the incremental investment in assets is yielding lower marginal returns.
- Correlation Analysis
- The divergence between the rising total assets and the declining ROA suggests an asset-heavy growth phase. The period between November 2024 and February 2026 was particularly notable, as ROA dropped from 12.64% to 11.32%, coinciding with the total asset base crossing the 60 billion USD threshold. This suggests that the scale of expansion has outstripped the immediate realization of corresponding earnings growth.
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