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ADSK

Autodesk NasdaqGS:ADSK Stock Report

Last Price

US$186.80

Market Cap

US$40.3b

7D

1.2%

1Y

-34.2%

Updated

02 Oct, 2022

Data

Company Financials +
ADSK fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance2/6
Financial Health3/6
Dividends0/6

ADSK Stock Overview

Autodesk, Inc. provides 3D design, engineering, and entertainment software and services worldwide.

Autodesk Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Autodesk
Historical stock prices
Current Share PriceUS$186.80
52 Week HighUS$335.48
52 Week LowUS$163.20
Beta1.53
1 Month Change-5.98%
3 Month Change7.44%
1 Year Change-34.24%
3 Year Change27.17%
5 Year Change59.71%
Change since IPO3,612.80%

Recent News & Updates

Oct 02

Autodesk: Building A Strong Reality Towards 2026 Targets

Summary Autodesk continues to post a solid top-line figure and growing margin thanks to its disciplined approach in today’s inflationary environment. It has a growing FCF and EPS outlook from the management. While pursuing relevant acquisitions, Autodesk makes its product portfolio more suitable for today’s digitalization and sustainable earth. The company enjoys a share buyback catalyst, mitigating some risk in potential dilution due to increasing share-based compensation. It remains liquid, boasts a strong customer base, and trading at a reasonable discount makes this stock a good buy in today’s weakness. Autodesk, Inc. (ADSK) has a better portfolio now and is well positioned in today’s digitalization. It has numerous catalysts that may boost demand, such as the growing global construction market and trends in the sustainable world. Continuing to provide strong profitability makes this drop a good opportunity to buy ADSK. Overview Autodesk is a worldwide leader in CAD software, providing productive solutions in architecture, engineering, and construction. It provides services for the manufacturing, design and entertainment industries, making it well positioned in today's digitalization. The company has been investing in improving its portfolio to ensure that it provides its customers with more efficient services and enhances its competitive advantage in the targeted low-carbon future environment. In fact, ADSK has been shopping companies, enhancing services in each of its focused industries. This year, the company acquired Extended Reality for undisclosed terms, supporting its AEC industry to improve real-time collaboration and help design and build greener cities and cars. On top of this, it also acquired Prodsmart, improving its manufacturing portfolio by enabling manufacturers to achieve connected factories and shop floors. ADSK is one of the few companies that has successfully transitioned to 100% renewable energy to power up its business operation. According to the management, they have an unmatched end-to-end water infrastructure solution. And our position now with Innovyze, we already have the sort of construction bit to the chain. We had the design bid with our existing design bids. And what Innovyze does is gives us the planning phase, the sort of pre design phase. And then it also, through their digital twin, gives us the operations and maintenance space. So, we're the only operator now that has end-to-end workflows in water and infrastructure. Source: Citi 2022 Global Technology Transcript Due to its market-leading portfolio, it is unsurprising to see a positive catalyst in the following quarterly reports. ADSK aspires for dominance in the Middle Eastern electricity and water utility sector. If this effort turns positive, this will provide an outstanding opportunity for ADSK and may translate to continued growth in its remaining performance obligation. Strong Customer Base Despite the slowing economy, ADSK showed resilience this Q2 and boasted a strong top line amounting to $1,177 million, up from $1,014 million, with a double-digit growth rate of 16.07% YoY. According to the management, they saw strong renewal rates and maintained a strong net revenue retention rate between 100% and 110%. This implies a continued strong customer base, contributing to the company’s growing total RPO of $4.69 billion, up 13% YoY. Strong Margin ADSK is still in the process of optimizing its operating facilities worldwide, and as part of this strategy, it incurred impairment and accelerated depreciation charges amounting to $103.7 million in FY22. The management expects approximately $25 million additional this FY23. In fact, this is one of the reasons why we can see some disruption in the company’s operating margin trend. ADSK: GAAP Operating Margin Trend (Source: Company Filings. Prepared by InvestOhTrader) During FY22, ADSK recorded a GAAP operating margin of 14%, down from 17% in FY21. Despite the supply chain and inflationary issues today, the management provided a reassuring GAAP operating margin of approximately 20% in FY23. This implies an effective cost-efficiency strategy making this stock attractive in today’s weakness. Strong Workforce, But One of Autodesk's assets is its employees, and despite the great resignation trend during the pandemic, it maintained a growing employee base of 12,600. According to Glassdoor, ADSK is ranked among the top 25 best workplaces. However, this leads to growing stock-based compensation expenses, which may pose a concern if the company experiences a demand slowdown. ADSK: 5-year Operating Margin Trend (Source: Company Filings. Prepared by InvestOhTrader) On the other hand, strong buyback catalysts reduced the risk of potential dilution for now, especially in the first half of 2023, when they repurchased 3.5 million of their own shares. Looking at the strong guidance from management, we can assume that they will have enough liquidity to continue acquiring companies and use their remaining 5 million shares authorization in FY23, with GAAP EPS expected to grow to $3.4 to 3.59 in FY23, up from $2.24 in FY22. Additionally, FCF is expected to grow to $2,000 million to $2,080 million in FY23, up from $1,464.8 million in FY22. Fairly Valued ADSK: Relative Valuation (Source: Data from SeekingAlpha.com. Prepared by InvestOhTrader) PTC Inc. (NASDAQ:PTC), Workday, Inc. (NASDAQ:WDAY), Cadence Design Systems, Inc. (NASDAQ:CDNS), Synopsys, Inc. (NASDAQ:SNPS), Adobe Inc. (NASDAQ:ADBE) ADSK is currently trading fairly against its peer group median. As of this writing, it is trading at a trailing Non-GAAP P/E of 31.61x, not much discount compared to its peer group median of 33.13x. ADSK was formerly valued at an extremely high multiple of 74.22x Non-GAAP P/E 5-year average,

Sep 27
Is Autodesk, Inc. (NASDAQ:ADSK) Trading At A 39% Discount?

Is Autodesk, Inc. (NASDAQ:ADSK) Trading At A 39% Discount?

Today we will run through one way of estimating the intrinsic value of Autodesk, Inc. ( NASDAQ:ADSK ) by estimating the...

Sep 26

Autodesk names chief marketing officer

Autodesk (NASDAQ:ADSK) appoints Dara Treseder as CMO, effective on October 14, 2022. Treseder will join the company from Peloton Interactive, where she serves as SVP and global head of marketing, communications and membership. As CMO, she will be responsible for Autodesk's marketing strategy globally, and oversee the company's worldwide marketing, brand & communications, global demand generation, and education business teams.

Shareholder Returns

ADSKUS SoftwareUS Market
7D1.2%-1.3%-2.5%
1Y-34.2%-33.3%-23.2%

Return vs Industry: ADSK underperformed the US Software industry which returned -33.2% over the past year.

Return vs Market: ADSK underperformed the US Market which returned -23.2% over the past year.

Price Volatility

Is ADSK's price volatile compared to industry and market?
ADSK volatility
ADSK Average Weekly Movement5.1%
Software Industry Average Movement8.7%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: ADSK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ADSK's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198212,600Andrew Anagnosthttps://www.autodesk.com

Autodesk, Inc. provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries. It also provides Inventor tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation; Vault, a data management software to manage data in one central location, accelerate design processes, and streamline internal/external collaboration; Maya and 3ds Max software products that offer 3D modeling, animation, effects, rendering, and compositing solutions; and ShotGrid, a cloud-based software for review and production tracking in the media and entertainment industry.

Autodesk Fundamentals Summary

How do Autodesk's earnings and revenue compare to its market cap?
ADSK fundamental statistics
Market CapUS$40.32b
Earnings (TTM)US$558.00m
Revenue (TTM)US$4.74b

72.3x

P/E Ratio

8.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ADSK income statement (TTM)
RevenueUS$4.74b
Cost of RevenueUS$398.00m
Gross ProfitUS$4.35b
Other ExpensesUS$3.79b
EarningsUS$558.00m

Last Reported Earnings

Jul 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.59
Gross Margin91.61%
Net Profit Margin11.76%
Debt/Equity Ratio355.3%

How did ADSK perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is ADSK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ADSK?

Other financial metrics that can be useful for relative valuation.

ADSK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.8x
Enterprise Value/EBITDA42.2x
PEG Ratio3.1x

Price to Earnings Ratio vs Peers

How does ADSK's PE Ratio compare to its peers?

ADSK PE Ratio vs Peers
The above table shows the PE ratio for ADSK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average57x
NEM Nemetschek
35.3x13.1%€5.7b
ANSS ANSYS
42.1x14.5%US$19.3b
DSY Dassault Systèmes
58.3x17.7%€47.0b
BSY Bentley Systems
92.4x22.0%US$9.5b
ADSK Autodesk
72.3x23.4%US$40.3b

Price-To-Earnings vs Peers: ADSK is expensive based on its Price-To-Earnings Ratio (72.3x) compared to the peer average (57x).


Price to Earnings Ratio vs Industry

How does ADSK's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Earnings vs Industry: ADSK is expensive based on its Price-To-Earnings Ratio (72.3x) compared to the US Software industry average (39.2x)


Price to Earnings Ratio vs Fair Ratio

What is ADSK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ADSK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio72.3x
Fair PE Ratio42.6x

Price-To-Earnings vs Fair Ratio: ADSK is expensive based on its Price-To-Earnings Ratio (72.3x) compared to the estimated Fair Price-To-Earnings Ratio (42.6x).


Share Price vs Fair Value

What is the Fair Price of ADSK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ADSK ($186.8) is trading below our estimate of fair value ($300.97)

Significantly Below Fair Value: ADSK is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Autodesk forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


23.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ADSK's forecast earnings growth (23.4% per year) is above the savings rate (1.9%).

Earnings vs Market: ADSK's earnings (23.4% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: ADSK's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ADSK's revenue (11.8% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: ADSK's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ADSK's Return on Equity is forecast to be very high in 3 years time (90.3%).


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Past Performance

How has Autodesk performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


65.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ADSK has high quality earnings.

Growing Profit Margin: ADSK's current net profit margins (11.8%) are lower than last year (32.5%).


Past Earnings Growth Analysis

Earnings Trend: ADSK has become profitable over the past 5 years, growing earnings by 65.9% per year.

Accelerating Growth: ADSK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ADSK had negative earnings growth (-57.6%) over the past year, making it difficult to compare to the Software industry average (13.4%).


Return on Equity

High ROE: Whilst ADSK's Return on Equity (75.41%) is outstanding, this metric is skewed due to their high level of debt.


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Financial Health

How is Autodesk's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ADSK's short term assets ($2.3B) do not cover its short term liabilities ($3.6B).

Long Term Liabilities: ADSK's short term assets ($2.3B) do not cover its long term liabilities ($3.8B).


Debt to Equity History and Analysis

Debt Level: ADSK's net debt to equity ratio (149.2%) is considered high.

Reducing Debt: ADSK's debt to equity ratio has reduced from 506% to 355.3% over the past 5 years.

Debt Coverage: ADSK's debt is well covered by operating cash flow (64.1%).

Interest Coverage: ADSK's interest payments on its debt are well covered by EBIT (10x coverage).


Balance Sheet


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Dividend

What is Autodesk current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Autodesk Dividend Yield vs Market
How does Autodesk dividend yield compare to the market?
SegmentDividend Yield
Company (Autodesk)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Software)1.1%
Analyst forecast in 3 Years (Autodesk)0%

Notable Dividend: Unable to evaluate ADSK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ADSK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ADSK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ADSK's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ADSK has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Andrew Anagnost (57 yo)

5.33yrs

Tenure

US$22,095,521

Compensation

Dr. Andrew Anagnost has been Chief Executive Officer and President at Autodesk, Inc. since June 19, 2017. He served as an Interim Chief Financial Officer at Autodesk, Inc. since January 19, 2021 until Marc...


CEO Compensation Analysis

Andrew Anagnost's Compensation vs Autodesk Earnings
How has Andrew Anagnost's remuneration changed compared to Autodesk's earnings?
DateTotal Comp.SalaryCompany Earnings
Jul 31 2022n/an/a

US$558m

Apr 30 2022n/an/a

US$487m

Jan 31 2022US$22mUS$1m

US$497m

Oct 31 2021n/an/a

US$1b

Jul 31 2021n/an/a

US$1b

Apr 30 2021n/an/a

US$1b

Jan 31 2021US$16mUS$976k

US$1b

Oct 31 2020n/an/a

US$429m

Jul 31 2020n/an/a

US$363m

Apr 30 2020n/an/a

US$305m

Jan 31 2020US$12mUS$904k

US$215m

Oct 31 2019n/an/a

US$147m

Jul 31 2019n/an/a

US$57m

Apr 30 2019n/an/a

-US$23m

Jan 31 2019US$9mUS$820k

-US$81m

Oct 31 2018n/an/a

-US$319m

Jul 31 2018n/an/a

-US$415m

Apr 30 2018n/an/a

-US$520m

Jan 31 2018US$12mUS$660k

-US$567m

Oct 31 2017n/an/a

-US$567m

Jul 31 2017n/an/a

-US$590m

Apr 30 2017n/an/a

-US$544m

Jan 31 2017US$5mUS$423k

-US$582m

Oct 31 2016n/an/a

-US$446m

Jul 31 2016n/an/a

-US$347m

Apr 30 2016n/an/a

-US$517m

Jan 31 2016US$3mUS$417k

-US$330m

Compensation vs Market: Andrew's total compensation ($USD22.10M) is above average for companies of similar size in the US market ($USD13.04M).

Compensation vs Earnings: Andrew's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: ADSK's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: ADSK's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGS:ADSK Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
31 May 22SellUS$334,244Rebecca PearceIndividual1,608US$207.91
03 Dec 21SellUS$1,210,619Andrew AnagnostIndividual4,724US$256.27

Ownership Breakdown

What is the ownership structure of ADSK?
Owner TypeNumber of SharesOwnership Percentage
Private Companies6750.0003%
State or Government95,9200.04%
Individual Insiders301,0270.1%
General Public18,162,8498.4%
Institutions197,298,57791.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 57.52% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
8.33%
The Vanguard Group, Inc.
17,971,443$3.4b0.15%0.08%
7.36%
BlackRock, Inc.
15,876,505$3.0b-4.75%0.08%
3.9%
State Street Global Advisors, Inc.
8,424,406$1.6b-3.02%0.09%
3.9%
Polen Capital Management, LLC
8,422,013$1.6b-2.64%4.35%
3.49%
Loomis Sayles & Company, L.P.
7,532,876$1.4b-9.44%2.66%
2.57%
Brown Advisory Incorporated
5,551,963$1.0b-4.11%1.87%
2.48%
Norges Bank Investment Management
5,351,912$999.7m0%0.14%
2.45%
Aristotle Capital Management, LLC
5,282,642$986.8m0%2.24%
2.18%
FMR LLC
4,698,611$877.7m0.2%0.08%
2.13%
Ninety One UK Limited
4,589,779$857.4m22.81%1.47%
1.75%
Geode Capital Management, LLC
3,766,946$703.7m1.55%0.09%
1.74%
AllianceBernstein L.P.
3,745,281$699.6m15.51%0.3%
1.7%
Capital Research and Management Company
3,677,972$687.0m0.05%0.05%
1.5%
Principal Global Investors, LLC
3,239,354$605.1m-1.23%0.43%
1.49%
Managed Account Advisors LLC
3,220,063$601.5m13.45%0.17%
1.46%
ClearBridge Investments, LLC
3,160,042$590.3m-1.71%0.56%
1.44%
Sustainable Growth Advisers, LP
3,100,560$579.2m2.71%4.27%
1.28%
Northern Trust Global Investments
2,769,150$517.3m-2.33%0.11%
1.15%
Massachusetts Financial Services Company
2,487,079$464.6m-19.42%0.12%
1.03%
Pictet Asset Management Limited
2,227,803$416.2m-13.31%0.38%
0.92%
Fidelity International Ltd
1,991,302$372.0m14.1%0.2%
0.86%
Columbia Management Investment Advisers, LLC
1,847,156$345.0m-30.33%0.11%
0.83%
Amundi Asset Management
1,799,916$336.2m26.48%0.11%
0.79%
Wellington Management Group LLP
1,712,413$319.9m-11.46%0.06%
0.79%
BNY Mellon Asset Management
1,707,943$319.0m1.66%0.07%

Company Information

Autodesk, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Autodesk, Inc.
  • Ticker: ADSK
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: US$40.322b
  • Shares outstanding: 215.86m
  • Website: https://www.autodesk.com

Number of Employees


Location

  • Autodesk, Inc.
  • 111 McInnis Parkway
  • San Rafael
  • California
  • 94903
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ADSKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 1985
AUDXTRA (XETRA Trading Platform)YesCommon StockDEEURJun 1985
AUDDB (Deutsche Boerse AG)YesCommon StockDEEURJun 1985
ADSK *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJun 1985
ADSKWBAG (Wiener Boerse AG)YesCommon StockATEURJun 1985
0HJFLSE (London Stock Exchange)YesCommon StockGBUSDJun 1985
AUDETLX (Eurotlx)YesCommon StockITEURJun 1985
A1UT34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 4 REPR 1 SHS UNSPONBRBRLJan 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/07/31
Annual Earnings2022/01/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.