Core Insights - Zacks Premium offers various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores serve as complementary indicators to the Zacks Rank, aiding in stock selection with high potential for market outperformance [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum, with A indicating the highest potential for outperformance [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Concentrates on a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - Targets stocks with upward or downward price trends, utilizing factors like one-week price change and monthly earnings estimate changes [5] VGM Score - Combines all three Style Scores to provide a comprehensive rating, highlighting stocks with attractive value, strong growth forecasts, and promising momentum [6] Zacks Rank Integration - The Zacks Rank leverages earnings estimate revisions to guide investors in stock selection, with 1 (Strong Buy) stocks historically yielding an average annual return of +25.41% since 1988 [7][8] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [10] Stock Example: Amdocs (DOX) - Amdocs Limited is a leading provider in customer care and billing systems, currently rated 3 (Hold) with a VGM Score of A [12] - The stock has a Momentum Style Score of A, with a 3% increase in shares over the past four weeks [12] - Recent upward revision of earnings estimates for fiscal 2025, with the Zacks Consensus Estimate rising by $0.03 to $7 per share [13]

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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Style Sco ...

Core Insights - Amdocs' international operations are crucial for understanding its financial strength and growth potential [1][2] - The company's reliance on international markets influences its earnings durability and growth capabilities [2][3] Revenue Performance - Amdocs reported total revenue of $1.11 billion for the quarter, a decrease of 10.9% year-over-year [4] - Revenue from Europe was $155.2 million, accounting for 13.98% of total revenue, which was below the consensus estimate of $163.62 million [5] - The "Rest of the World" contributed $217.4 million, or 19.58% of total revenue, exceeding expectations of $215.11 million [6] Future Revenue Projections - Analysts expect Amdocs to report total revenue of $1.13 billion in the current fiscal quarter, reflecting a decline of 9.5% from the prior year [7] - For the entire year, total revenue is forecasted at $4.53 billion, a reduction of 9.5% from the previous year, with Europe contributing 14.6% ($659.8 million) and the Rest of the World 19.9% ($900.8 million) [8] Market Context - The interconnected global economy presents both opportunities and challenges for Amdocs, making the analysis of international revenue trends essential for forecasting [9][10] - Wall Street analysts are closely monitoring these trends, especially in light of geopolitical tensions and their impact on earnings predictions [10] Stock Performance - Amdocs' stock has increased by 4.6% over the past month, outperforming the Zacks S&P 500 composite, which rose by 2.1% [13] - Over the past three months, the company's stock price increased by 2.4%, compared to a 1.2% rise in the S&P 500 index [13]

Amdocs Limited (DOX) reported first-quarter fiscal 2025 non-GAAP earnings of $1.66 per share, which came above the midpoint of management’s guidance range of $1.61-$1.67 and increased 6.4% year over year. The figure also exceeded the Zacks Consensus Estimate of $1.64.In the trailing four quarters, DOX’s earnings surpassed the Zacks Consensus Estimate twice, matched once and missed once, with an average negative surprise of 0.1%.Amdocs’ first-quarter revenues of $1.11 billion matched the consensus mark. Howe ...

Amdocs (DOX) reported $1.11 billion in revenue for the quarter ended December 2024, representing a year-over-year decline of 10.9%. EPS of $1.66 for the same period compares to $1.56 a year ago.The reported revenue represents a surprise of -0.34% over the Zacks Consensus Estimate of $1.11 billion. With the consensus EPS estimate being $1.64, the EPS surprise was +1.22%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

Amdocs (DOX) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $1.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.22%. A quarter ago, it was expected that this provider of computer systems integration would post earnings of $1.70 per share when it actually produced earnings of $1.70, delivering no surprise.Over the last four quarters, ...

[Key Information](index=4&type=section&id=ITEM%203.%20KEY%20INFORMATION) This section outlines key business, financial, and share ownership risks impacting the company [Business and Industry Risks](index=4&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Industry) The company's business is significantly exposed to global economic conditions and intense industry competition - The company's business is highly dependent on the communications industry and is affected by macroeconomic conditions, industry consolidation, and changes in customer spending[8](index=8&type=chunk) - Amdocs faces intense competition from IT service providers, software vendors, and network equipment providers. Success depends on factors like competitive pricing, quality of service, and responsiveness to customer needs[9](index=9&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk) Revenue Concentration from Major Customers (FY2024 & FY2023) | Customer | FY2024 Revenue % | FY2023 Revenue % | | :--- | :--- | :--- | | AT&T | **24.5%** | 23.8% | | T-Mobile | **22.6%** | 23.1% | | Top 10 Customers | **~70%** | **~70%** | - The company faces significant risks from cybersecurity threats, including phishing, ransomware, and other attacks that could compromise its own or customers' data and systems. These risks are heightened by remote work, acquisitions, and the use of AI[13](index=13&type=chunk)[14](index=14&type=chunk) - The use of AI and Generative AI (GenAI) introduces risks related to product development, potential biases or errors in AI models, intellectual property protection, data privacy, and compliance with evolving regulations like the EU AI Act[15](index=15&type=chunk)[16](index=16&type=chunk) - The company's international operations, with major development centers in India and Israel, expose it to geopolitical risks, political instability, currency fluctuations, and complex legal and regulatory environments[21](index=21&type=chunk)[23](index=23&type=chunk)[24](index=24&type=chunk) [Indebtedness Risks](index=18&type=section&id=Risks%20Related%20to%20Our%20Indebtedness) The company faces risks related to its **$650 million** outstanding debt, including cash flow and refinancing challenges - As of September 30, 2024, the company has an aggregate of **$650 million** in outstanding indebtedness. The ability to pay interest and repay principal depends on business operations and cash flow generation[38](index=38&type=chunk) - The company faces risks related to refinancing maturing debt, where new terms might be less favorable, and higher interest rates could increase interest expenses. Credit rating changes also pose a risk to security values and borrowing costs[38](index=38&type=chunk) [Share Ownership Risks](index=18&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Ordinary%20Shares) The market price of ordinary shares is volatile, and enforcing U.S. judgments against the Guernsey-incorporated company may be difficult - The market price of ordinary shares is volatile and can be influenced by market conditions, operating results, competitor announcements, and industry trends[39](index=39&type=chunk) - Enforcing U.S. judgments against the company may be difficult as it is incorporated in Guernsey, with a majority of directors and a significant portion of assets located outside the United States[40](index=40&type=chunk) [Company Information](index=19&type=section&id=ITEM%204.%20INFORMATION%20ON%20THE%20COMPANY) This section details the company's core business, strategy, offerings, competition, and assets [Business Overview](index=20&type=section&id=Business%20Overview) Amdocs provides software and services to communications, entertainment, and media companies globally, driven by cloud and 5G trends - Amdocs provides software and services to about 400 communications, entertainment, and media companies, including major telecommunications giants like AT&T, T-Mobile, Verizon, and Vodafone[46](index=46&type=chunk) - The company's offerings are designed to help service providers accelerate their journey to the cloud, deploy next-generation networks, and enhance customer experiences using technologies like AI, GenAI, microservices, and DevSecOps[47](index=47&type=chunk) - Demand is driven by customer migration to the cloud, deployment of 5G, FWA, and fiber networks, and the need for digital transformation to compete with OTT players[49](index=49&type=chunk) - Amdocs highlights its ESG commitments, including a goal to be carbon neutral in operations by 2040 and recognition in TIME's list of World's Most Sustainable Companies (2024) and the 2023 S&P Dow Jones Sustainability Index[51](index=51&type=chunk)[52](index=52&type=chunk) [Business Strategy](index=22&type=section&id=Business%20Strategy) Amdocs' strategy focuses on specialized customer experience solutions, technology leadership, and expanding managed services - Focus on the communications and media industry to leverage specialized know-how[60](index=60&type=chunk) - Target industry leaders and expand into new geographies, including emerging markets in Europe, the UAE, and Japan[60](index=60&type=chunk) - Provide an open, dynamic, and cloud-native portfolio to accelerate customers' journey to the cloud and help them differentiate in the 5G era, supported by strategic collaborations with AWS, NVIDIA, Microsoft Azure, and Google Cloud[60](index=60&type=chunk) - Lead with innovative technology, especially GenAI, through its **amAIz** platform and strategic partnerships with Microsoft and NVIDIA[61](index=61&type=chunk) - Expand **Managed Services**, including managed transformations, to provide predictable recurring revenue and long-term customer relationships[61](index=61&type=chunk) [Products and Services](index=23&type=section&id=The%20Amdocs%20Offerings) Amdocs offers a comprehensive portfolio of modular, GenAI-led products and services for the telecommunications and media industries [Product Portfolio (Amdocs CES24)](index=23&type=section&id=Product%20Portfolio%20(Amdocs%20CES24)) **Amdocs CES24** is a telco-native, GenAI-led customer experience suite featuring engagement, monetization, networking, and catalog solutions - In Q2 FY2024, Amdocs released **CES24**, a telco-native GenAI-led customer experience suite. It features **CES Copilot**, a set of GenAI-driven assistants powered by the **amAIz** platform[62](index=62&type=chunk) - **Customer Engagement Platform**: A CRM solution leveraging Microsoft Dynamics 365 and Azure for unified, omni-channel AI-driven customer journeys[64](index=64&type=chunk) - **Amdocs Monetization Suite**: Enables monetization of services from traditional connectivity to advanced digital services enabled by 5G, edge, and cloud[64](index=64&type=chunk) - **Amdocs Intelligent Networking Suite**: Provides end-to-end service orchestration for complex services across 5G, SDN/NFV, cloud, and edge domains[65](index=65&type=chunk) - **Amdocs Catalog**: A central catalog with embedded business intelligence and Copilot assistance to rapidly launch innovative services and bundles[66](index=66&type=chunk) [Services Portfolio](index=24&type=section&id=Services%20Portfolio) Amdocs provides managed, quality engineering, mobile network, cloud, data, professional, and consulting services - **Managed Services**: Provides multi-year, flexible support for IT, business processes, and applications, including cloud operations, FinOps, and hyper-automation[73](index=73&type=chunk) - **Quality Engineering Services**: Modernizes testing approaches using an AI-driven test automation platform and a DevSecOps approach[74](index=74&type=chunk) - **Mobile Network Services**: Helps customers deploy and operate next-generation networks like 5G and fiber through design, engineering, and operations services[75](index=75&type=chunk) - **Cloud and Data Services**: Assists enterprises in adopting, migrating to, and operating on the cloud, including strategy, governance, and security services. Data intelligence services cover the entire data lifecycle[76](index=76&type=chunk) - **Professional and Consulting Services**: Offers end-to-end systems integration, business and technology strategy consulting, and expertise in experience design and digital software engineering[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) [Competition](index=30&type=section&id=Competition) Amdocs operates in a highly competitive market, differentiating through industry focus, innovation, and end-to-end accountability - The market for customer experience solutions is highly competitive and fragmented[92](index=92&type=chunk) Key Competitor Categories | Category | Competitors | | :--- | :--- | | BSS/OSS & CRM Providers | CSG International, Netcracker, Oracle, Pegasystems, Salesforce, SAP, ServiceNow | | System Integrators & IT Services | Accenture, Cap Gemini, Cognizant, DXC Technology, Infosys, Kyndryl, Tata, Tech Mahindra, Wipro | | Network Equipment Providers | Ciena, Ericsson, Huawei, Nokia | | Niche Domain Players | Matrixx (charging), Hansen (catalog), Aria Systems/Stripe/Zuora (subscription billing), Deluxe Media (media), Slalom (cloud consulting) | - Amdocs differentiates itself through its deep industry heritage, focus on innovation (cloud, AI, GenAI), tailored solutions, and offering end-to-end accountability[94](index=94&type=chunk) [Property, Plants and Equipment](index=31&type=section&id=Property%2C%20Plants%20and%20Equipment) The company's capital expenditures are primarily for computer equipment and software, with significant leased and owned facilities worldwide Capital Expenditures (Computer Equipment & Software) | Fiscal Year | Expenditure (approx.) | | :--- | :--- | | 2024 | **$72 million** | | 2023 | **$84 million** | | 2022 | **$92 million** | Leased and Owned Facilities by Region (as of Sep 30, 2024) | Region | Area (Sq. Feet) | | :--- | :--- | | Americas | **543,116** | | EMEA | **1,076,941** | | APAC | **1,311,920** | | **Total** | **2,931,977** | - In fiscal year 2023, the company completed its move into a new, owned campus in Ra'anana, Israel. The campus is designed to LEED Gold standards with advanced energy and water-saving systems[99](index=99&type=chunk) [Operating and Financial Review and Prospects](index=31&type=section&id=ITEM%205.%20OPERATING%20AND%20FINANCIAL%20REVIEW%20AND%20PROSPECTS) This section analyzes the company's financial performance, liquidity, and critical accounting policies [Operating Results](index=35&type=section&id=Operating%20Results) Amdocs reported revenue growth in FY2024, but operating income and net income decreased due to restructuring charges Fiscal Year 2024 vs. 2023 Performance (in thousands, except %) | Metric | FY 2024 | FY 2023 | Change Amount | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $5,004,989 | $4,887,550 | $117,439 | **2.4%** | | Operating Income | **$628,608** | $653,990 | ($25,382) | **(3.9%)** | | Net Income (Amdocs Ltd.) | **$493,197** | $540,709 | ($47,512) | **(8.8%)** | | Diluted EPS | **$4.25** | **$4.49** | ($0.24) | (5.3%) | Revenue by Geography (FY2024 vs. FY2023) | Region | FY2024 Revenue % | FY2023 Revenue % | | :--- | :--- | :--- | | North America | 66.5% | 67.7% | | Europe | 14.5% | 14.4% | | Rest of the World | 19.0% | 17.9% | - Revenue growth in FY2024 was driven by increased activity across all regions. Revenue from customers in the Rest of the World grew by **8.6%**, while Europe grew **3.3%** and North America grew **0.6%**[120](index=120&type=chunk)[122](index=122&type=chunk) - Restructuring charges significantly impacted profitability, increasing by **84.9%** to **$131.1 million** in FY2024 from **$70.9 million** in FY2023. These charges reduced diluted EPS by **$0.98** in FY2024[119](index=119&type=chunk)[129](index=129&type=chunk)[135](index=135&type=chunk) - The effective tax rate increased to **16.0%** in FY2024 from **14.7%** in FY2023[117](index=117&type=chunk)[133](index=133&type=chunk) - The company decided to phase out several low-margin, non-core business activities that generated approximately **$600 million** in revenue in fiscal 2024. These activities were substantially ceased in the first quarter of fiscal 2025[107](index=107&type=chunk)[551](index=551&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) Amdocs' liquidity decreased in FY2024 due to significant capital returns, offset by strong operating cash flow - Cash, cash equivalents, and short-term investments decreased to **$514.3 million** as of Sep 30, 2024, from **$742.5 million** a year prior[137](index=137&type=chunk) - Net cash from operating activities was **$724.4 million** in FY2024. Free cash flow was **$618.9 million**[137](index=137&type=chunk) - Major uses of cash in FY2024 included **$563.1 million** for share repurchases, **$212.0 million** for dividends, and **$86.8 million** for business acquisitions[137](index=137&type=chunk) - The company has an unsecured **$500 million** Revolving Credit Facility maturing in July 2029, which was undrawn as of Sep 30, 2024. It also has **$650 million** in Senior Notes due in June 2030[142](index=142&type=chunk)[143](index=143&type=chunk) - In FY2024, the company repurchased **6.6 million** ordinary shares for **$563.1 million**. As of Sep 30, 2024, **$537.6 million** remained authorized for future repurchases[147](index=147&type=chunk)[311](index=311&type=chunk) - The Board approved a quarterly dividend of **$0.479** per share payable in January 2025 and approved, subject to shareholder approval, an increase to **$0.527** per share anticipated for April 2025[148](index=148&type=chunk) [Critical Accounting Policies](index=40&type=section&id=Critical%20Accounting%20Policies) Amdocs' critical accounting policies involve significant estimates for revenue recognition, tax, business combinations, and impairment - **Revenue Recognition**: A significant portion of revenue is recognized over time based on the percentage of labor effort incurred to date versus total projected effort. This requires significant judgment in estimating progress, contract revenue, and costs[154](index=154&type=chunk) - **Tax Accounting**: Involves estimating income tax expense across multiple jurisdictions, assessing uncertain tax positions, and determining the need for valuation allowances on deferred tax assets[156](index=156&type=chunk)[158](index=158&type=chunk)[160](index=160&type=chunk) - **Business Combinations**: Requires significant estimates to determine the fair value of acquired assets, liabilities, and any contingent consideration. This often involves using independent valuation firms[162](index=162&type=chunk)[163](index=163&type=chunk) - **Goodwill and Asset Impairment**: Goodwill is tested for impairment annually or when indicators are present, using qualitative or quantitative approaches that require judgment. Long-lived assets are tested when impairment indicators exist[169](index=169&type=chunk)[170](index=170&type=chunk) - **Derivative and Hedge Accounting**: Involves judgments in determining the fair value of contracts, the nature of exposure, and evaluating the effectiveness of hedging arrangements for foreign currency risk[172](index=172&type=chunk) [Directors, Senior Management and Employees](index=43&type=section&id=ITEM%206.%20DIRECTORS%2C%20SENIOR%20MANAGEMENT%20AND%20EMPLOYEES) This section details the company's leadership, board structure, and workforce demographics [Directors and Senior Management](index=43&type=section&id=Directors%20and%20Senior%20Management) The company is managed by executive officers and a nine-member Board of Directors, with aggregate remuneration of **$5.9 million** in FY2024 - Key leadership includes Eli Gelman (Chairman), Shuky Sheffer (President & CEO), and Tamar Rapaport-Dagim (CFO & COO)[177](index=177&type=chunk)[187](index=187&type=chunk)[188](index=188&type=chunk) - The aggregate remuneration paid to 13 directors and officers in fiscal year 2024 was approximately **$5.9 million**[193](index=193&type=chunk) - In fiscal year 2024, directors and officers were granted an aggregate of **252,979** restricted shares, typically with three- to four-year vesting periods and performance conditions[193](index=193&type=chunk) - The company enforces stock ownership guidelines, requiring the CEO to hold **6x base salary** in equity and directors to hold **6x their annual cash retainer**[192](index=192&type=chunk) [Board Practices and Committees](index=47&type=section&id=Board%20Practices) The Board operates through four main committees, with all members elected annually and a mandatory retirement age of 73 - The Board maintains four committees: Audit, Nominating and Corporate Governance, Management Resources and Compensation, and Technology and Innovation[196](index=196&type=chunk) - The Audit Committee members are Adrian Gardner (Chair), Robert Minicucci, and Sarah Ruth Davis, all of whom are independent. Mr. Gardner and Ms. Davis are designated as '**audit committee financial experts**'[197](index=197&type=chunk)[299](index=299&type=chunk) - The Management Resources and Compensation Committee oversees executive compensation and succession planning and is composed entirely of independent directors[201](index=201&type=chunk) - The Board has a mandatory retirement age of 73, but granted a one-year waiver for director Ralph de la Vega in November 2024[195](index=195&type=chunk) [Workforce Personnel](index=49&type=section&id=Workforce%20Personnel) Amdocs' average workforce decreased to **29,058** in FY2024, primarily in APAC, with good employee relations Average Workforce by Function and Geography (FY2024) | Category | Americas | EMEA | APAC | Total | | :--- | :--- | :--- | :--- | :--- | | Software, IT, Sales & Marketing | **5,480** | **6,000** | **15,958** | **27,438** | | Management & Administration | - | - | - | **1,620** | | **Total Workforce** | - | - | - | **29,058** | - The total average workforce decreased from **30,695** in FY2023 to **29,058** in FY2024[204](index=204&type=chunk) - The company considers its relationship with employees to be good and has never experienced an organized labor dispute, strike, or work stoppage[207](index=207&type=chunk) [Major Shareholders and Related Party Transactions](index=51&type=section&id=ITEM%207.%20MAJOR%20SHAREHOLDERS%20AND%20RELATED%20PARTY%20TRANSACTIONS) This section identifies major shareholders and discloses any related party transactions [Major Shareholders](index=51&type=section&id=Major%20Shareholders) FMR LLC is the largest shareholder with **15.5%** ownership, while directors and officers collectively own **1.8%** Beneficial Ownership of Major Shareholders (as of Dec 3, 2024) | Shareholder | Shares Beneficially Owned | Percentage Ownership | | :--- | :--- | :--- | | FMR LLC | **17,510,389** | **15.5%** | | Janus Henderson Group plc | **6,625,875** | **5.9%** | | Pzena Investment Management LLC | **6,482,552** | **5.7%** | | All directors and officers as a group (12 persons) | **2,004,553** | **1.8%** | - As of September 30, 2024, approximately **99%** of outstanding ordinary shares were held of record by residents of the United States, primarily through Cede & Co[219](index=219&type=chunk) [Related Party Transactions](index=51&type=section&id=Related%20Party%20Transactions) The company reported no related party transactions - None reported[220](index=220&type=chunk) [Market Risk Disclosures](index=60&type=section&id=ITEM%2011.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This section outlines the company's exposure to foreign currency and interest rate market risks [Foreign Currency Risk](index=60&type=section&id=Foreign%20Currency%20Risk) Amdocs hedges foreign currency risk on revenues and costs using forward contracts and options, with the U.S. dollar as its functional currency - In FY2024, **70-80%** of revenue and **50-60%** of operating expenses were in or linked to the U.S. dollar, the company's functional currency[289](index=289&type=chunk) - The company hedges significant net exposures in major foreign currencies, including the Canadian dollar, Euro, New Israeli Shekel, and Indian Rupee, using forward contracts and options[290](index=290&type=chunk) Derivative Instruments (as of Sep 30, 2024) | Instrument | Notional Value (in millions) | Fair Value (in millions) | | :--- | :--- | :--- | | Foreign exchange contracts | **$1,648** | **$6.4** | [Interest Rate Risk](index=60&type=section&id=Interest%20Rate%20Risk) The company's interest income and expense are sensitive to interest rate changes, with a conservative investment policy - Interest income and expense are sensitive to interest rate changes affecting cash investments and some borrowings[292](index=292&type=chunk) - The investment portfolio consists mainly of conservative, short-term, U.S. dollar-denominated debt instruments[292](index=292&type=chunk) [Corporate Governance and Other Disclosures](index=61&type=section&id=ITEM%2016.%20Corporate%20Governance%20and%20Other%20Disclosures) This section covers principal accountant fees, equity repurchases, and cybersecurity risk management [Principal Accountant Fees and Services](index=62&type=section&id=ITEM%2016C.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) **Ernst & Young LLP** billed approximately **$5.9 million** in fees for audit and audit-related services in fiscal 2024, all pre-approved Fees Billed by Ernst & Young (FY2024 vs. FY2023) | Fee Category | FY 2024 (approx.) | FY 2023 (approx.) | | :--- | :--- | :--- | | Audit Fees | **$3.7 million** | **$3.5 million** | | Audit-Related Fees | **$1.4 million** | **$1.9 million** | | Tax Fees | **$0.8 million** | **$1.0 million** | | All Other Fees | **$0** | **$0** | | **Total** | **$5.9 million** | **$6.4 million** | - The Audit Committee has pre-approval policies for all audit and non-audit services performed by the independent auditor, and all services in fiscal 2024 were approved accordingly[308](index=308&type=chunk)[309](index=309&type=chunk) [Issuer Purchases of Equity Securities](index=63&type=section&id=ITEM%2016E.%20PURCHASES%20OF%20EQUITY%20SECURITIES%20BY%20THE%20ISSUER%20AND%20AFFILIATED%20PURCHASERS) Amdocs repurchased **6.6 million** ordinary shares for **$563.1 million** in FY2024, with **$537.6 million** remaining authorized Share Repurchases in Fiscal Year 2024 | Metric | Value | | :--- | :--- | | Total Shares Purchased | **6,612,404** | | Average Price Paid per Share | **$85.15** | | Total Cost (approx.) | **$563.1 million** | | Remaining Authority (as of Sep 30, 2024) | **$537.6 million** | [Cybersecurity](index=64&type=section&id=ITEM%2016K.%20CYBERSECURITY) Amdocs manages cybersecurity risk through a comprehensive framework with Board oversight and CISO-led management - The cybersecurity risk management framework is based on industry standards from ISO and NIST and includes recurring risk assessments, a third-party risk management program, and an incident response plan with a 24/7 security operations center[318](index=318&type=chunk)[320](index=320&type=chunk) - The Board of Directors provides oversight, delegating primary responsibility to the Audit Committee and the Technology and Innovation Committee[323](index=323&type=chunk) - The Chief Information Security Officer (CISO), who reports to the CFO & COO, leads the cybersecurity program and provides regular updates to management and the Board[325](index=325&type=chunk) - A steering committee led by the CFO & COO and the Group President of Technology provides ongoing governance of cybersecurity activities[326](index=326&type=chunk) [Financial Statements](index=66&type=section&id=ITEM%2018.%20FINANCIAL%20STATEMENTS) This section presents the company's audited consolidated financial statements and related disclosures [Audited Consolidated Financial Statements](index=71&type=section&id=Audited%20Consolidated%20Financial%20Statements) The report includes audited consolidated financial statements for FY2024, FY2023, and FY2022, with an **unqualified opinion** from **Ernst & Young LLP** - The financial statements for FY2024, FY2023, and FY2022 were audited by **Ernst & Young LLP**, which issued an **unqualified opinion**[347](index=347&type=chunk)[354](index=354&type=chunk) - Management concluded that as of September 30, 2024, the company's internal control over financial reporting was **effective**[345](index=345&type=chunk) - A critical audit matter was the **revenue recognition for projects**, specifically the significant management estimation required to determine the total projected labor effort to complete a project[351](index=351&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Account | As of Sep 30, 2024 | As of Sep 30, 2023 | | :--- | :--- | :--- | | Total Assets | **$6,386,142** | **$6,425,653** | | Total Liabilities | **$2,886,965** | **$2,858,721** | | Total Equity | **$3,499,177** | **$3,566,932** | Consolidated Cash Flow Highlights (in thousands) | Account | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Net cash from operating activities | **$724,428** | **$822,630** | | Net cash used in investing activities | **($127,406)** | **($224,497)** | | Net cash used in financing activities | **($771,017)** | **($651,430)** |

Have you evaluated the performance of Amdocs' (DOX) international operations for the quarter ending September 2024? Given the extensive global presence of this provider of computer systems integration, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. ...

Core Viewpoint - Amdocs reported mixed financial results for the fourth quarter of fiscal 2024, with earnings meeting expectations but revenues slightly missing consensus estimates, leading to a cautious outlook for fiscal 2025 [1][2][3]. Financial Performance - Amdocs' fourth-quarter fiscal 2024 non-GAAP earnings were $1.70 per share, a 19.7% increase year over year, matching the Zacks Consensus Estimate [1]. - Revenues for the fourth quarter were $1.264 billion, missing the consensus mark by 0.17%, but showing a year-over-year increase of 1.7% [2]. - For fiscal 2024, total revenues reached $5.005 billion, slightly below the consensus estimate, with a year-over-year growth of 2.4% [8]. Regional Performance - North America generated revenues of $835.8 million, accounting for 66.1% of total revenues, with a year-over-year increase of 0.2% [5]. - Europe contributed $184.1 million (14.6% of total revenues), up 4.9% year over year [5]. - Revenues from the Rest of World (RoW) were $244 million (19.3% of total revenues), also reflecting a 4.9% year-over-year growth [5]. Operational Metrics - Managed services revenues rose 0.5% year over year to $721.4 million, with a backlog of $4.06 billion, up 2.5% year over year [6]. - Non-GAAP operating income increased 6.8% year over year to $236.2 million, with an operating margin of 18.7%, expanding by 90 basis points [7]. Guidance and Outlook - For Q1 fiscal 2025, Amdocs expects revenues between $1.095 billion and $1.135 billion, with a midpoint of $1.115 billion, below the consensus estimate of $1.27 billion [10]. - Fiscal 2025 revenue guidance indicates a potential decline of 7.7% to 10.9% year over year, contrasting with the consensus estimate of a 3.6% increase [11]. - Non-GAAP earnings per share for fiscal 2025 are projected to grow between 6.5% and 10.5%, with a consensus estimate of $7.06 per share [11]. Balance Sheet and Cash Flow - As of September 30, 2024, Amdocs had cash and short-term investments of $514.3 million, an increase from $502.2 million as of June 30, 2024 [9]. - Free cash flow for the quarter was reported at $192.1 million, up from $175 million in the previous quarter [9].