Accenture vs AXA: Revenue, Profit and Business Model
Accenture reported $69.7B of revenue in FY2025 and $7.7B of net income. AXA reported ~$131.1B of revenue in FY2025 and ~$11.1B of net income.
Latest financial snapshot
Financial summary
Accenture
Accenture's fiscal year ends August 31. Revenue rose from $34.80B in FY2016 to $69.67B in FY2025, and net income attributable to Accenture plc rose from $4.11B to $7.68B over the same period. FY2025 brought $80.62B in new bookings, $10.87B of free cash flow, GAAP diluted EPS of $12.15 and $8.3B returned to shareholders through dividends and buybacks. Spending on acquisitions was $6.58B in FY2024 and $1.47B in FY2025. In Q3 FY2026 (to May 31, 2026) revenue was $18.72B, up 6% in U.S. dollars and 3% in local currency, and full-year FY2026 results are due on October 1, 2026.
AXA
AXA's results combine large, slow-moving premium income with investment income on the reserves it holds. In 2025 gross written premiums and other revenues rose 6% to ~$131 billion (EUR 116 billion), underlying earnings rose 6% to ~$9.49 billion (EUR 8.4 billion), underlying earnings per share rose 8% to EUR 3.86 and net income rose to ~$11.1 billion (EUR 9.80 billion), helped by the gain on the sale of AXA Investment Managers. The property and casualty combined ratio improved 0.3 points to 90.6%, so underwriting itself was profitable before investment income. The Solvency II ratio ended 2025 at 224%, and 215% on January 1, 2026 once capital instruments under Solvency II transitional measures stopped qualifying. AXA proposed a dividend of EUR 2.32 per share for 2025, up 8%, alongside an annual buyback of up to $1.41 billion (EUR 1.25 billion).
Revenue and profit by year
Accenture
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $69.7B | $7.7B | 11.0% | +7.4% | Source |
| FY2024 | $64.9B | $7.3B | 11.2% | +1.2% | Source |
| FY2023 | $64.1B | $6.9B | 10.7% | +4.1% | Source |
| FY2022 | $61.6B | $6.9B | 11.2% | +21.9% | Source |
| FY2021 | $50.5B | $5.9B | 11.7% | +14.0% | Source |
| FY2020 | $44.3B | $5.1B | 11.5% | +2.6% | Source |
| FY2019 | $43.2B | $4.8B | 11.1% | +5.4% | Source |
| FY2018 | $41B | $4.1B | 9.9% | +13.3% | Source |
| FY2017 | $36.2B | $3.4B | 9.5% | +4.0% | Source |
| FY2016 | $34.8B | $4.1B | 11.8% | — | Source |
AXA
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$131.1B | ~$11.1B | 8.4% | +5.2% | Source |
| FY2024 | ~$124.6B | ~$8.9B | 7.2% | +7.4% | Source |
| FY2023 | ~$116.1B | ~$8.1B | 7.0% | +0.7% | Source |
| FY2022 | ~$115.3B | — | 0.0% | +2.1% | Source |
| FY2021 | ~$112.9B | ~$8.2B | 7.3% | +3.0% | Source |
| FY2020 | ~$109.6B | — | 0.0% | -6.3% | Source |
| FY2019 | ~$117B | — | 0.0% | +0.6% | Source |
| FY2018 | ~$116.3B | — | 0.0% | — | Source |
| FY2016 | ~$113B | — | 0.0% | — | Source |
Where the revenue comes from
Accenture
- Consulting
$35.11B in FY2025 revenue
Consulting includes strategy, technology consulting, systems integration, cloud migration, data and AI programs, and large transformation projects.
- Managed Services
$34.57B in FY2025 revenue
Managed Services includes application management, infrastructure operations, business process services, finance operations, customer operations, and other long-term outsourced work.
- AI, Data, and Digital Core
Reported across consulting and managed services
Accenture embeds AI, data, cybersecurity, cloud, enterprise platforms, and digital core modernization into client transformation programs.
- Song, Supply Chain, Engineering, and Talent
Reported across service lines
These capabilities cover customer experience, commerce, design, marketing technology, product engineering, supply chain, workforce transformation, and change management.
AXA
- Property & Casualty Insurance~50%
Gross written premiums and revenues of ~$65.5 billion (EUR 58 billion) in 2025, up 5%, including personal lines of ~$22.3 billion (EUR 19.7 billion) and AXA XL Reinsurance of ~$2.94 billion (EUR 2.6 billion). The 90.6% combined ratio means the book was profitable before investment income.
- Life & Savings Insurance~32%
~$42.4 billion (EUR 37.5 billion) of 2025 premiums and revenues, up 9%, with unit-linked business up 13%. Capital-light savings and protection contracts have replaced much of the traditional guaranteed savings book.
- Health Insurance~16%
~$21.5 billion (EUR 19 billion) of 2025 premiums and revenues, up 5% on pricing, spanning individual cover, group schemes and employee benefits. Health earnings grew 17% in 2025.
- Asset Management (divested July 2025)~1%
AXA Investment Managers contributed revenues only until July 1, 2025, when it was sold to BNP Paribas Cardif for ~$5.76 billion (EUR 5.1 billion) in cash out of a ~$6.1 billion (EUR 5.4 billion) total transaction value.
Business model and strategy
Accenture
How it makes money
Accenture sells professional services to large companies and governments. Consulting revenue ($35.11B in FY2025) comes from strategy, technology implementation, cloud migration and data and AI projects. Managed services revenue ($34.57B) comes from multi-year contracts to run applications, infrastructure and business processes such as finance or customer operations.
Growth strategy
Accenture grows through a mix of organic services and frequent acquisitions. It spent $6.58B on businesses and investments in FY2024 and $1.47B in FY2025, and in 2026 announced its largest recent deals: Faculty in the UK and the $1.2B Ookla agreement.
Competitive advantage
Accenture can take a client from strategy work through systems implementation and then run the resulting systems or processes under multi-year managed services contracts; in FY2025 managed services was $34.57B of its $69.67B revenue.
AXA
How it makes money
AXA collects premiums across three businesses: property and casualty (motor, home, commercial property, liability and specialty risks written through AXA XL), life and savings (protection, general account savings and unit-linked contracts), and health (individual cover and employee benefits).
Growth strategy
AXA grows mostly organically in insurance lines it can price, supplemented by bolt-on deals: Laya Healthcare in Ireland and GACM España in 2023, and a 51% stake in the Italian direct insurer Prima announced in 2025 for ~$565 million (EUR 500 million). The bigger strategic move has been simplification.
Competitive advantage
AXA's main advantage is a diversified risk pool. Writing motor, home, commercial property, liability, health and life cover in 52 countries lets one bad year in a single market or line be absorbed elsewhere: in 2025 growth in health and European commercial lines offset pressure in other portfolios. Its balance sheet supports that spread, with a Solvency II ratio of 224% at the end of 2025.
Questions about Accenture vs AXA
Which company has higher revenue — Accenture PLC or AXA SA?
Accenture PLC reported $69.7B (FY2025), while AXA SA reported ~$131.1B (FY2025). By last reported revenue, AXA SA is the larger business, with Accenture PLC reporting a smaller revenue base.
What is the market cap of Accenture PLC vs AXA SA?
Accenture PLC's market capitalisation stands at $110.7B, while AXA SA's is $90.3B. Accenture PLC carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to AXA SA.
Which is more financially efficient — Accenture PLC or AXA SA?
Accenture PLC generates $87k / employee in revenue per employee, while AXA SA generates $840k / employee. AXA SA shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Accenture PLC and AXA SA make money?
Accenture PLC and AXA SA generate revenue in fundamentally different ways. Accenture PLC: Accenture sells professional services to large companies and governments. AXA SA: AXA collects premiums across three businesses: property and casualty (motor, home, commercial property, liability and specialty risks written through AXA XL), life and savings (protection, general account savings and unit-linked contracts), and health (individual cover and employee benefits).
Which company is valued higher relative to revenue — Accenture PLC or AXA SA?
On a price-to-sales (P/S) basis, Accenture PLC trades at 1.6x P/S and AXA SA at 0.7x P/S. Accenture PLC commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to AXA SA. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Accenture PLC bigger than AXA SA?
By last reported revenue, AXA SA (~$131.1B (FY2025)) is the larger company compared to Accenture PLC ($69.7B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Accenture vs AXA overview