Amdocs LimitedDOX
NasdaqGS•Technology•Software - Infrastructure
Amdocs Limited, through its subsidiaries, provides software and services to communications, entertainment, media, and other service providers worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud offering. The company also provides CES25, a telco-native, GenAI-led customer experience suite, spanning business, and operations and network domains that is embedded with AI and related tools. In addition, it offers GenAI agents, and which include Customer Engagement Platform, a telecom-specific customer relationship management (CRM) solution; Amdocs Monetization Suite which enables customers to monetize their broad set of services and offerings; Amdocs Intelligent Networking Suite, a set of solutions that provide end-to-end service orchestration; Amdocs Charging; Amdocs eSIM Cloud that enables service providers to offer digital SIM (eSIM); Amdocs MarketONE, a based Software-as-a-Service (SaaS)-based platform that includes pre-integrated digital services, ranging from media, gaming, eLearning, sports and retail to security, and business services; and Amdocs connectX, a cloud-native telco-in-a-box software-as-a-service platform for digital telecom brands, as well as Amdocs CatalogONE that spans the entire CES25 suite and combines embedded business intelligence with telecom-specific GenAI agents. Further, the company provides consulting, experience design, data, cloud, network services, delivery, quality engineering, operations, systems integration, and content services to various platforms and technologies; maintenance, enhancement design and development, and operational support services; network deployment and optimization services; and managed services, including AI and related tools, predictive analytics, and robotic process automation, as well as quality engineering, mobile network, cloud, and professional services. Amdocs Limited was founded in 1982 and is headquartered in Saint Louis, Missouri.
Amdocs Limited (DOX) reported trailing twelve months revenue of $4.62B as of March 2026, a 2.7% decline year-over-year. Quarterly revenue reached $1.17B, reflecting a contraction in sales.
Amdocs Limited generated $546.50M in TTM net income, with quarterly EBITDA of $245.54M. The operating margin contracted from 17.5% to 16.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (16.4%) and net margin (11.8%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 14.5% a year ago, reflecting increased costs or interest expense.
DOX trades at a P/E of 12.7x (below the broader market average) and a P/S of 1.5x. The price-to-book ratio of 2.1x reflects a moderate premium to book value.
The company generated $80.35M in free cash flow over the trailing twelve months, a 48.7% decrease year-over-year, indicating cash generation ability. The balance sheet shows $6.36B in total assets with $647.21M in long-term debt against $3.38B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~16.0%, suggesting durable pricing power and cost discipline.
ROE averages 15.5% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.5% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 7.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation