ADSK Research | Milton Maxwell

ADSK

Autodesk, Inc.

293.98

-0.33-0.11%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '26

Sales disruption risk heightened in guide

2/25/26Feb 25, 2026

Q&A largely reaffirmed prepared remarks on FY26 strength and FY27 guidance prudence, but surfaced higher disruption risk from customer-facing sales cuts—unlike prior non-selling focus—expected to hit new subscriptions early while sparing renewals and self-serve. Management elaborated AI moats via scarce real-world data and design context to outpace LLMs, plus early API monetization for machine usage and World Labs for spatial reasoning in M&E/digital twins. Data center owners drive deeper adoption into supply chains. Partners shifted to new business incentives with anti-pull-forward guardrails. Risks feel baked in. Watch GTM execution for demand durability.

Key Stats

Market Cap

62.62B

P/E (TTM)

57.19

Basic EPS (TTM)

5.14

Dividend Yield

Recent Filings

10-K

FY2026 results

3/3/26Mar 3, 2026

Autodesk delivered FY2026 net revenue of $7.21B, up 18% y/y, with recurring revenue at 97% of total and NR3 above 110% on a constant currency basis. Q4 momentum shone through AECO (+22% y/y to $3.58B annually) and Make products like Fusion, fueled by direct channel growth to 63% of revenue amid new transaction model adoption that cut indirect sales 26% y/y. Margins held firm at 22%, but restructuring hit $216M. Cash flow from operations soared to $2.45B; repurchased 5M shares for $1.4B. Q4 accelerated EBA sales. Global economic volatility threatens quarterly momentum.

8-K

Q4 revenue up 19%, billings 33%

2/26/26Feb 26, 2026

Autodesk crushed Q4 FY26 with revenue up 19% to $1.96B and billings surging 33% to $2.8B, fueled by 22% AECO growth while M&E lagged at 7%. Full-year revenue hit $7.2B, up 18%, with free cash flow rocketing 54% to $2.4B. Yet restructuring costs hit $100M in Q4. FY27 guides revenue to $8.1B-$8.17B.

8-K

Restructures, cuts 1,000 jobs

1/22/26Jan 22, 2026

Autodesk announced a worldwide restructuring on January 22, 2026, cutting ~7% of its workforce (1,000 employees), mostly in sales, to complete sales and marketing optimization and reallocate to AI and strategic priorities. Expect $135M-$160M pre-tax charges, mostly cash in FY2027. Q4 FY2026 metrics beat guidance tops. Risks include higher costs, talent loss.

10-Q

Q3 FY2026 results

11/26/25Nov 26, 2025

Autodesk posted Q3 FY2026 revenue of $1.85B, up 18% y/y, driven by 19% subscription growth to $1.73B while AEC surged 23% to $921M. Operating income climbed to $470M (25% margin) from $346M, with diluted EPS at $1.60 versus $1.27; YTD revenue hit $5.25B (+17% y/y), EPS $3.76. Cash swelled to $1.99B, operating cash flow $1.46B YTD (FCF $1.44B derived), despite $2.48B net debt after $499M new notes issuance. Restructuring hit $116M YTD. Solid backlog at $7.36B RPO. Direct channels now dominate. Securities litigation lingers.

8-K

Q3 revenue beats, guidance up

11/25/25Nov 25, 2025

Autodesk crushed Q3 FY26 with revenue up 18% to $1.85B and billings surging 21%, fueled by 23% AECO growth while M&E lagged at 4%. Cash flow from operations doubled to $439M. AECO outshone others. Raised FY26 revenue guide to $7.15B-$7.165B amid stable macro but elevated uncertainty.

About

Autodesk, Inc. provides 3D design, engineering, and entertainment technology solutions worldwide. It offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution; Autodesk Build, a toolset for managing, sharing, and accessing project documents for streamlined workflows between the office, trailer, and jobsite; Revit, a software built for building information modeling to help professionals design, build, and maintain energy-efficient buildings; Autodesk BIM Collaborate Pro, cloud-based design collaboration and design management software; BuildingConnected, a SaaS preconstruction solution; and Tandem, a cloud-based platform that transforms the built asset lifecycle. The company also provides AutoCAD software, a customizable and extensible CAD application for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; Fusion, a 3D CAD, computer-aided manufacturing, and computer-aided engineering tool; Inventor, a software solution that offers a set of tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation; product design and manufacturing collection tools; and Vault, a data management software for managing data in one central location, accelerate design processes, and streamline internal/external collaboration. It offers Flow Production Tracking, a cloud-based production management software; Maya software that offers 3D modeling, animation, effects, rendering, and compositing solutions for film and video artists, game developers, and design visualization professionals; Media and Entertainment Collection that offers end-to-end creative tools for entertainment creation; and 3ds Max software, which provides 3D modeling, animation, and rendering solutions. The company sells its products and services through a network of resellers and distributors. The company has a strategic alliance with Eaton Corporation plc for the development of AI-Powered Digital Energy Twin and Software Tools. Autodesk, Inc. was incorporated in 1982 and is headquartered in San Francisco, California.

CEO

Dr. Andrew Anagnost Ph.D.

IPO

6/28/1985

Website

https://www.autodesk.com

Employees

15,300

Sector

Technology

Industry

Software - Application