Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-31.
Amdocs' consensus tape reads as a low-drama compounder: mid-single-digit revenue growth feeding double-digit normalized-EPS gains through FY2029 on gradual margin and ROE expansion, all in USD on a September fiscal year. Normalized EPS has beaten consensus in each of the last eight quarters, usually modestly, while revenue prints within roughly a point of the number. The tape's one soft spot is a ~1.7% six-month cut to the FY2028 EPS estimate against flat revenue, and coverage that thins to one or two analysts in FY2028-FY2029.
Revenue grows ~3-5% a year but normalized EPS accelerates to double digits by FY2029
Currency: USD · Scale: money in millions, absolute · YoY uses the prior fiscal year from the feed; analyst count and range use the first displayed period.
| Metric | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | YoY | Analysts | Low / high |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.53bn | $4.69bn | $4.85bn | $5.11bn | $5.28bn | — | 5 | $4.52bn / $4.54bn |
| EPS (normalized) | $6.98 | $7.41 | $8.06 | $8.94 | $10.09 | — | 5 | $6.96 / $7.00 |
| Gross margin | 38.5% | 38.5% | 38.6% | 38.9% | 39.8% | — | — | — |
| ROE | 20.7% | 21.3% | 21.6% | 25.0% | 25.7% | — | — | — |
Normalized EPS has beaten consensus eight quarters running, revenue landing within a point
Every one of the last eight quarters cleared the normalized-EPS consensus, mostly by well under 2%; revenue was roughly in line, with only two sub-0.5% misses. The pattern reads as tightly guided rather than a run of blowouts.
Current sequences by metric: Revenue: 5 consecutive beats; EPS (normalized): 8 consecutive beats.
Currency: USD · Scale: money in millions, absolute · Consensus is captured before each actual first became effective.
| Quarter | Metric | Consensus | Actual | Surprise | Outcome |
|---|---|---|---|---|---|
| Q2 FY2026 | Revenue | $1.17bn | $1.17bn | +0.5% | Beat |
| Q2 FY2026 | EPS (normalized) | $1.76 | $1.78 | +0.9% | Beat |
| Q1 FY2026 | Revenue | $1.15bn | $1.16bn | +0.2% | Beat |
| Q1 FY2026 | EPS (normalized) | $1.76 | $1.81 | +3.0% | Beat |
| Q4 FY2025 | Revenue | $1.15bn | $1.15bn | +0.4% | Beat |
| Q4 FY2025 | EPS (normalized) | $1.82 | $1.83 | +0.4% | Beat |
| Q3 FY2025 | Revenue | $1.13bn | $1.14bn | +1.3% | Beat |
| Q3 FY2025 | EPS (normalized) | $1.71 | $1.72 | +0.6% | Beat |
| Q2 FY2025 | Revenue | $1.12bn | $1.13bn | +0.4% | Beat |
| Q2 FY2025 | EPS (normalized) | $1.70 | $1.78 | +4.5% | Beat |
| Q1 FY2025 | Revenue | $1.11bn | $1.11bn | -0.4% | Miss |
| Q1 FY2025 | EPS (normalized) | $1.64 | $1.66 | +1.4% | Beat |
| Q4 FY2024 | Revenue | $1.26bn | $1.26bn | +0.1% | Beat |
| Q4 FY2024 | EPS (normalized) | $1.70 | $1.70 | +0.1% | Beat |
| Q3 FY2024 | Revenue | $1.25bn | $1.25bn | -0.4% | Miss |
| Q3 FY2024 | EPS (normalized) | $1.60 | $1.62 | +1.4% | Beat |
FY2028 EPS estimate trimmed ~1.7% over six months while revenue sits flat
FY2027 estimates are essentially frozen over six months, while FY2028 normalized EPS slipped from 9.10 to 8.94 (about -1.7%) even as FY2028 revenue barely moved - consistent with a margin-side markdown rather than a revenue cut.
Currency: USD · Scale: money in millions, absolute · Point-in-time consensus; Δ90d is Now versus 90d.
| Metric | FY | 180d | 90d | 30d | Now | Δ90d |
|---|---|---|---|---|---|---|
| EPS (normalized) | FY2027 | $8.10 | $8.11 | $8.06 | $8.06 | -0.5% |
| EPS (normalized) | FY2028 | $9.10 | $8.88 | $8.94 | $8.94 | +0.6% |
| Revenue | FY2027 | $4.87bn | $4.85bn | $4.85bn | $4.85bn | -0.1% |
| Revenue | FY2028 | $5.13bn | $5.11bn | $5.11bn | $5.11bn | +0.0% |
Analysts span ~15% on FY2027 EBITDA even as EPS and revenue stay tightly clustered
On FY2027 EBITDA the four estimates run from 1,110 to 1,290 (mean 1,213); GAAP net income is nearly as split across three analysts. Normalized EPS and revenue, by contrast, are tightly clustered.
Currency: USD · Scale: money in millions, absolute · Spread/mean is absolute high-low divided by absolute mean.
| Metric | Period | Mean | Low–high | Spread/mean | Analysts |
|---|---|---|---|---|---|
| EBITDA | FY2027E | $1.21bn | $1.11bn–$1.29bn | 14.8% | 4 |
| Net income (GAAP) | FY2027E | $661.72m | $627.91m–$710.08m | 12.4% | 3 |
Ratings split 3 buy / 3 hold; targets stretch $70.84 to $105 on four marks
Ratings are evenly split 3 buy / 3 hold with no sells, and the four price targets run $70.84 to $105 around an $81.21 mean - the $105 high pulls the mean well above the $74.50 median.
Currency: USD · Scale: money in millions, absolute · Analyst counts shown explicitly.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 3, Outperform 0, Hold 3, Underperform 0, Sell 0 | 6 |
| Consensus score | 2.00 | 6 |
| Target price | mean $81.21; median $74.50; high $105.0; low $70.84 | 4 |
Coverage thins to two analysts by FY2028 and one by FY2029
Consensus is robust through the current year (FY2026 revenue has six analysts, EPS five) but degrades fast: FY2028 rests on two estimates and FY2029 on a single one, so the outer-year growth curve is more one house's view than a true consensus.