Autodesk
ADSK Nasdaq Application Software Financials FY2017–FY2026
Autodesk's revenue rose 17.5% to $7.2 billion in fiscal 2026. Its operating margin was 21.9%, down from 22.1% a year earlier. Free cash flow was $2.4 billion, up 53.7%. It paid out $1.4 billion in dividends and buybacks, 58% of free cash flow. The diluted share count fell 0.9%.
What Autodesk does
Autodesk sells design and engineering software. Architects, engineers, builders, product makers and film and game studios use it to draw, model, simulate and manage projects before they are built. Its best-known products are AutoCAD and Revit for buildings and infrastructure, Fusion and Inventor for product design and manufacturing, and Maya and 3ds Max for animation and visual effects.
Autodesk earns revenue mainly from subscriptions, where customers pay for term-based access to desktop software and cloud services, including enterprise agreements that cover many users. It describes its offerings in three groups: architecture, engineering, construction and operations; manufacturing; and media and entertainment. It sells through its own online store and sales staff, and through a network of about 1,170 resellers and distributors. For fiscal 2026, approximately 37% of revenue came from indirect sales through distributors and resellers. It is moving to a new transaction model in which resellers quote a price but the sale is made directly between Autodesk and the customer.
Autodesk says it expects international sales to remain the majority of net revenue. It names large global software firms, small regional firms, startups and in-house tools as competitors.
- Legal name
- Autodesk, Inc.
- Fiscal year ends
- January 31, 2026
- Latest annual report
- 10-K · Mar 3, 2026
- Accession · CIK
- 0000769397-26-000015
0000769397
Revenue and margins
Autodesk had $7.2B of revenue in fiscal 2026, up 17.5% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $2.4B in fiscal 2026, 33.4% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Autodesk returned $1.4B to shareholders in fiscal 2026, 58% of free cash flow. The diluted share count fell 0.9%.
Value Autodesk yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $97.0M and divides by 215.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 32.7x · peers 73.8x · sector 33.5x.
Balance sheet
Cash, debt and the ratios that show how comfortably Autodesk can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.8B | $2.1B | $2.2B | $1.9B | $2.6B |
| Debt incl. finance leases | $2.7B | $2.3B | $2.3B | $2.3B | $2.5B |
| Net debt / EBITDA | 1.2x | 0.2x | 0.0x | 0.3x | −0.1x |
| Debt / equity | 3.1x | 2.0x | 1.2x | 0.9x | 0.8x |
| Interest coverage | 10.7x | 11.9x | 15.9x | 19.1x | 19.7x |
| Current ratio | 0.7x | 0.8x | 0.8x | 0.7x | 0.9x |
| Quick ratio | 0.7x | 0.8x | 0.8x | 0.7x | 0.9x |
| Total assets | $8.6B | $9.4B | $9.9B | $10.8B | $12.5B |
| Total liabilities | $7.8B | $8.3B | $8.1B | $8.2B | $9.4B |
| Shareholders' equity | $849M | $1.1B | $1.9B | $2.6B | $3.0B |
| Net debt (− = net cash) | $886M | $228M | $54.0M | $414M | −$97.0M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$2.2M
4 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 23, 2026 | John T CahillDirector | Bought | 2,000 | $189.20 | $0.4M | Form 4 |
| Jun 16, 2026 | Andrew AnagnostPresident and CEO, Director | Bought | 2,460 | $202.66 | $0.5M | Form 4 |
| Jun 15, 2026 | Janesh MoorjaniEVP, Chief Financial Officer | Bought | 2,500 | $197.67 | $0.5M | Form 4 |
| May 29, 2026 | Stacy J SmithDirector | Bought | 3,435 | $231.17 | $0.8M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 | FY26 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✓ | ✓ | ✓ |
| Current ratio rose | ✕ | ✕ | ✓ |
| Share count didn't rise | ✓ | ✕ | ✓ |
| Gross margin rose | ✓ | ✕ | ✓ |
| Revenue rose relative to assets | ✓ | ✓ | ✓ |
| F-score | 8 / 9 | 6 / 9 | 8 / 9 |
| Accruals ratio | −4.2% | −4.8% | −11.4% |
| Altman Z'' | −0.07 | −0.24 | 0.36 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Autodesk ADSK | $53.2B | 17.5% | 21.9% | 33.4% | 37.0% | 32.7x | 8 | |
| Synopsys SNPS | $82.7B | 15.1% | 13.0% | 19.1% | 4.0% | 75.2x | 3 | Compare → |
| Atlassian TEAM | $59.2B | 26.0% | 0.2% | 20.1% | — | — | 7 | Compare → |
| Workday WDAY | $51.7B | 13.1% | 7.6% | 29.1% | 10.6% | 42.5x | 7 | Compare → |
| Cadence Design Systems CDNS | $86.6B | 14.1% | 28.2% | 30.0% | 23.7% | 73.8x | 5 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $2.0B | $2.1B | $2.6B | $3.3B | $3.8B | $4.4B | $5.0B | $5.5B | $6.1B | $7.2B |
| Gross profit | $1.7B | $1.8B | $2.3B | $2.9B | $3.5B | $4.0B | $4.5B | $5.0B | $5.6B | $6.6B |
| Research and development | $766M | $756M | $725M | $851M | $932M | $1.1B | $1.2B | $1.4B | $1.5B | $1.6B |
| Operating income | −$500M | −$509M | −$25.0M | $343M | $629M | $618M | $989M | $1.1B | $1.4B | $1.6B |
| Interest expense | $47.6M | $54.6M | $59.0M | $67.8M | $63.0M | $58.0M | $83.0M | $71.0M | $71.0M | $80.0M |
| Pretax income | −$524M | −$557M | −$42.7M | $295M | $547M | $565M | $946M | $1.1B | $1.4B | $1.6B |
| Income tax | $58.3M | $9.6M | $38.1M | $80.3M | −$661M | $68.0M | $123M | $230M | $272M | $479M |
| Net income | −$582M | −$567M | −$80.8M | $215M | $1.2B | $497M | $823M | $906M | $1.1B | $1.1B |
| Diluted EPS | −$2.61 | −$2.58 | −$0.37 | $0.96 | $5.44 | $2.24 | $3.78 | $4.19 | $5.12 | $5.23 |
| Diluted shares | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B | 0.22B |
| Cash flow | ||||||||||
| Cash from operations | $170M | $0.9M | $377M | $1.4B | $1.4B | $1.5B | $2.1B | $1.3B | $1.6B | $2.5B |
| Capital expenditure | $76.0M | $50.7M | $67.0M | $53.2M | $91.0M | $56.0M | $40.0M | $31.0M | $40.0M | $43.0M |
| Free cash flow | $93.7M | −$49.8M | $310M | $1.4B | $1.3B | $1.5B | $2.0B | $1.3B | $1.6B | $2.4B |
| Depreciation and amortization | $139M | $108M | $95.2M | $127M | $124M | $148M | $150M | $139M | $180M | $195M |
| Stock-based compensation | $222M | $261M | $250M | $362M | $398M | $555M | $657M | $703M | $683M | $788M |
| Acquisitions | $85.2M | $0.0M | $1.0B | $0.0M | $246M | $1.3B | $96.0M | $70.0M | $825M | $0.0M |
| Share buybacks | $622M | $699M | $294M | $443M | $552M | $1.1B | $1.1B | $795M | $852M | $1.4B |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $622M | $699M | $294M | $443M | $552M | $1.1B | $1.1B | $795M | $852M | $1.4B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $1.9B | $1.3B | $954M | $1.8B | $1.8B | $1.8B | $2.1B | $2.2B | $1.9B | $2.6B |
| Total debt | $1.1B | $1.6B | $2.1B | $2.1B | $1.7B | $2.7B | $2.3B | $2.3B | $2.3B | $2.5B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $2.5B | $1.9B | $1.6B | $2.7B | $2.6B | $2.8B | $3.3B | $3.6B | $3.5B | $4.9B |
| Current liabilities | $2.2B | $2.1B | $2.3B | $3.2B | $3.3B | $4.0B | $4.0B | $4.4B | $5.2B | $5.8B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $159M | $145M | $150M | $162M | $193M | $162M | $144M | $121M | $117M | $121M |
| Total assets | $4.8B | $4.1B | $4.7B | $6.2B | $7.3B | $8.6B | $9.4B | $9.9B | $10.8B | $12.5B |
| Total liabilities | $4.1B | $4.4B | $4.9B | $6.3B | $6.3B | $7.8B | $8.3B | $8.1B | $8.2B | $9.4B |
| Shareholders' equity | $734M | −$256M | −$211M | −$139M | $965M | $849M | $1.1B | $1.9B | $2.6B | $3.0B |
| Margins | ||||||||||
| Gross margin | 83.2% | 85.3% | 88.9% | 90.1% | 91.1% | 90.5% | 90.4% | 90.7% | 90.6% | 91.0% |
| Operating margin | −24.6% | −24.8% | −1.0% | 10.5% | 16.6% | 14.1% | 19.8% | 20.5% | 22.1% | 21.9% |
| EBITDA margin | −17.7% | −19.5% | 2.7% | 14.4% | 19.9% | 17.5% | 22.8% | 23.1% | 25.0% | 24.6% |
| Net margin | −28.7% | −27.6% | −3.1% | 6.6% | 31.9% | 11.3% | 16.4% | 16.5% | 18.1% | 15.6% |
| FCF margin | 4.6% | −2.4% | 12.1% | 41.6% | 35.5% | 33.6% | 40.6% | 23.3% | 25.6% | 33.4% |
| Returns | ||||||||||
| Return on capital | — | — | −4.3% | — | — | 42.2% | 55.4% | 54.8% | 44.0% | 37.0% |
| Return on capital employed | −15.3% | −22.1% | −1.1% | 12.7% | 18.0% | 14.3% | 19.7% | 20.5% | 24.1% | 25.6% |
| Return on equity | −49.5% | −237.4% | — | — | 292.5% | 54.8% | 82.6% | 60.4% | 49.7% | 39.7% |
| Return on assets | −11.3% | −12.7% | −1.8% | 3.9% | 18.0% | 6.3% | 9.1% | 9.4% | 10.7% | 9.7% |
| Growth | ||||||||||
| Revenue growth | −18.9% | 1.3% | 25.0% | 27.4% | 15.8% | 15.7% | 14.1% | 9.8% | 11.5% | 17.5% |
| Net income growth | — | — | — | — | 463.2% | −58.9% | 65.6% | 10.1% | 22.7% | 1.1% |
| EPS growth | — | — | — | — | 466.7% | −58.8% | 68.8% | 10.9% | 22.2% | 2.2% |
| FCF growth | −72.6% | −153.2% | — | 339.2% | −1.2% | 9.6% | 37.7% | −36.9% | 22.2% | 53.7% |
| Share count change | −1.5% | −1.4% | −0.3% | 1.6% | −0.2% | 0.0% | −1.8% | −0.9% | 0.5% | −0.9% |
| Financial health | ||||||||||
| Net debt / EBITDA | — | — | 16.2x | 0.5x | −0.2x | 1.2x | 0.2x | 0.0x | 0.3x | −0.1x |
| Debt / equity | 1.5x | — | — | — | 1.7x | 3.1x | 2.0x | 1.2x | 0.9x | 0.8x |
| Interest coverage | −10.5x | −9.3x | −0.4x | 5.1x | 10.0x | 10.7x | 11.9x | 15.9x | 19.1x | 19.7x |
| Current ratio | 1.1x | 0.9x | 0.7x | 0.8x | 0.8x | 0.7x | 0.8x | 0.8x | 0.7x | 0.9x |
| Quick ratio | 1.1x | 0.9x | 0.7x | 0.8x | 0.8x | 0.7x | 0.8x | 0.8x | 0.7x | 0.9x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.7% | 2.5% | 2.6% | 1.6% | 2.4% | 1.3% | 0.8% | 0.6% | 0.7% | 0.6% |
| Stock comp / revenue | 10.9% | 12.7% | 9.7% | 11.1% | 10.5% | 12.7% | 13.1% | 12.8% | 11.1% | 10.9% |
| Payouts / FCF | 663.5% | — | 94.7% | 32.5% | 41.0% | 73.2% | 54.2% | 62.0% | 54.4% | 58.2% |
| Quality scores | ||||||||||
| Piotroski F-score | 4.0 | 5.0 | 6.0 | 8.0 | 7.0 | 4.0 | 7.0 | 8.0 | 6.0 | 8.0 |
| Altman Z'' | −0.8 | −2.9 | −2.5 | −1.5 | −0.5 | −1.1 | −0.3 | −0.1 | −0.2 | 0.4 |
| Accruals ratio | −14.6% | −12.7% | −10.4% | −22.0% | −3.4% | −13.0% | −13.8% | −4.2% | −4.8% | −11.4% |
Source: SEC EDGAR XBRL filings (CIK 0000769397). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.