Amdocs Ltd. (DOX) intrinsic value & 10-year financials
Amdocs Ltd. (DOX) has a Graham intrinsic value of $64.46 per share. Over the last 10 fiscal years revenue grew 3.6% a year to $5.0B, with an average return on invested capital of 13.3%.
- Graham intrinsic value
- $64.46
- Revenue (FY2024)
- $5.0B
- Revenue growth (10-yr CAGR)
- 3.6%
- ROIC (10-yr avg)
- 13.3%
- Free cash flow (FY2024)
- $618.9M
DOX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $5.0B | $493.2M | $4.25 | $618.9M | 12.6% | 13.8% |
| FY2023 | $4.9B | $540.7M | $4.49 | $698.3M | 13.4% | 14.9% |
| FY2022 | $4.6B | $549.5M | $4.44 | $529.5M | 14.5% | 15.2% |
| FY2021 | $4.3B | $688.4M | $5.32 | $715.4M | 14.0% | 13.8% |
| FY2020 | $4.2B | $497.8M | $3.71 | — | 14.3% | 14.0% |
| FY2019 | $4.1B | $479.4M | $3.47 | — | 13.9% | 13.8% |
| FY2018 | $4.0B | $354.4M | $2.47 | $326.1M | 10.8% | 10.3% |
| FY2017 | $3.9B | $436.8M | $2.96 | $502.7M | 13.4% | 12.5% |
| FY2016 | $3.7B | $409.3M | $2.71 | $490.1M | 13.0% | 11.9% |
| FY2015 | $3.6B | $446.2M | $2.85 | $652.1M | 14.2% | 13.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AMDOCS LTD has demonstrated mature, steady growth, with revenue compounding at 3.6% annually over the past decade.
AMDOCS LTD returns on capital have been average, hovering around 14.3% ROIC over the decade.
Over the decade, AMDOCS LTD shows that management has aggressively returned capital to shareholders by retiring 25.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AMDOCS LTD is modeled at 4.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $64.46 per share.