Accenture

The balance sheet is robust. Cash was 11.5 billion dollars at Aug 31, 2025. As of May 31, 2025, the company had 5.0 billion dollars of senior notes outstanding (maturing 2027 to 2034) plus about 0.1 billion dollars of commercial paper, implying a substantial net cash position and minimal refinancing risk given strong FCF.

FY2025 free cash flow was 10.87 billion dollars on 11.47 billion dollars operating cash flow and 0.6 billion dollars capex, reflecting excellent cash conversion and asset-light economics. These metrics provide considerable resilience through cycles.