ACN – Market expectations are for Uniform ROA compression, but management is confident about their growth strategy, capital allocation, and Q4 bookings

• Accenture plc (ACN:USA) currently trades at historical highs relative to UAFRS-based (Uniform) Earnings, with an 18.8x Uniform P/E. Even at these levels, markets are still pricing in bearish expectations for the firm. However, management is confident about their growth strategy, capital allocation, and Q4 bookings
• Specifically, management is confident their growth strategy drives durability and revenue growth, and they are confident they are meeting their capital allocation objectives. Furthermore, they are confident about Q4 bookings and in their leadership footprint.