AMDOCS LTD
DOX · Services-Computer Programming Services · EDGAR filings ↗
Reference price $62.51 — last insider sale, 2026-05-29 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B74Telecom-software/services vendor, profitable with strong free cash flow; reported growth is a normalization artifact.
Strengths
- Strong margins and FCF — operating margin 12.6% (79th), FCF $618.9M (87th)
- Profitable — net margin 9.9% (80th), ROA 7.7% (80th)
- Low leverage — D/E 0.19
Risks
- Reported revenue +300% is a normalization artifact, not organic — per 10-K
- Carrier-spending dependence per risk factors — per 10-K
- Mature telecom-software market — per 10-K
Notable findings
- Customer concentration~70% of revenue from one customer/distributor — Aggregate revenue derived from the multiple business arrangements we have with our ten largest customers accounted for approximately 70% of our revenue in fiscal years 2
- Strong balance sheetStrong balance sheet — $514M cash & investments
Key metrics
Gross margin
35.1%
Operating margin
12.6%
Net margin
9.9%
Return on equity
14.3%
Return on assets
7.7%
ROIC
12.1%
Revenue growth (QoQ)
2.4%
Net-income growth
-8.8%
Debt / equity
0.2×
Current ratio
1.2×
Free cash flow
$619M
Tangible book value
$451M
Cash & investments
$514M
Stock comp / revenue
2.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | Smith Matthew E. | Sell | 464 | $62.51 |
| 2026-05-13 | Hortig Shimie | Grant | 84K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (16)
- AT&T 26% of rev
- T-Mobile 20% of rev
- América Móvil
- Bell Canada
- Singtel
- Telstra
- Verizon
- Telefónica
- Vodafone
- Charter Communications
- Comcast
- DISH
- J:COM
- Optimum
- Rogers
- Sky
Suppliers (0)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-12-15 | 2025-09-30 | 0001193125-25-319187 ↗ |
| 20-F | 2024-12-17 | 2024-09-30 | 0000950170-24-137381 ↗ |
| 20-F | 2023-12-13 | 2023-09-30 | 0000950170-23-070017 ↗ |
| 20-F | 2022-12-13 | 2022-09-30 | 0001193125-22-303803 ↗ |
| 20-F | 2021-12-09 | 2021-09-30 | 0001193125-21-352655 ↗ |
| 20-F | 2020-12-14 | 2020-09-30 | 0001193125-20-317000 ↗ |
| 20-F | 2019-12-16 | 2019-09-30 | 0001193125-19-315234 ↗ |
| 20-F | 2018-12-10 | 2018-09-30 | 0001193125-18-346169 ↗ |
| 20-F | 2017-12-11 | 2017-09-30 | 0001193125-17-366393 ↗ |
| 20-F | 2016-12-12 | 2016-09-30 | 0001193125-16-790829 ↗ |
| 20-F | 2015-12-10 | 2015-09-30 | 0001193125-15-400204 ↗ |
| 20-F | 2014-12-08 | 2014-09-30 | 0001193125-14-436532 ↗ |