Autodesk, Inc.ADSK
Autodesk, Inc. Financial Overview 2021–2025
Autodesk operates with such high customer lock-in that 97% of its $6.13 billion in FY2025 total net revenue came entirely from recurring subscriptions. This near-total reliance on predictable income proves that the company’s transition to a cloud-based software model is complete, yielding a highly visible cash-flow engine that seamlessly funds strategic acquisitions and artificial intelligence development. Reflecting this successful structural pivot, top-line revenue grew from $3.79 billion in FY2021 to $6.13 billion in FY2025.
Beneath the top line, the company continues to amass future contracted revenue, with remaining performance obligations (RPO) climbing to $7.36 billion by Q3 2025. This operational stability allowed Autodesk to return substantial capital, executing $1.07 billion in share repurchases during the first nine months of FY2025. Management is also actively reallocating resources to accelerate its core strategic pillars, initiating a 9% workforce reduction expected to incur up to $150 million in restructuring charges by FY2026. The market has heavily priced in this durable top-line growth and margin optimization; at the close of FY2025, the stock traded at $311.34, commanding a 60.8x P/E ratio and a $66.6 billion market cap.
Recent Developments (Q2 and Q3 2026)
Autodesk increased net revenue by 17% year-over-year to $1.76 billion in Q2 2026 and by 18% year-over-year to $1.85 billion in Q3 2026. Income from operations grew 36% year-over-year to $470 million in the third quarter. The company announced the closure of government investigations into its free cash flow accounting practices. Management also raised expectations, projecting that Q4 2026 performance will exceed prior guidance.
Bulls argue that operating income growing twice as fast as revenue, alongside a net revenue retention rate above 110%, proves strong operating leverage. Conversely, bears note that at a 58.9x P/E ratio as of November 25, 2025, the valuation assumes continued high growth and leaves the stock vulnerable to software spending slowdowns.
What to watch: final Q4 2026 revenue and earnings figures; performance within the Architecture, Engineering, Construction and Operations segments.
Rev
$6.13B
FY2025
NI
$1.11B
FY2025
EPS
$5.17
FY2025
OCF
$1.61B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
Autodesk, Inc. 8-K Report, Exit or Disposal Costs (Jan 22, 2026)
Autodesk, Inc. has announced a significant restructuring plan, marking the final phase of its sales and marketing optimization. This plan involves a workforce reduction of approximately 7%, impacting about 1,000 employees, with a notable focus on customer-facing sales roles. The company expects to incur pre-tax restructuring charges between $135 million and $160 million, primarily for employee termination benefits, with the majority of these costs to be cash expenditures in fiscal year 2027. A portion of these charges, estimated between $90 million and $110 million, will be recognized in the fourth quarter of fiscal year 2026, with the remainder spread across fiscal year 2027. This restructuring is intended to drive further efficiencies and reallocate resources towards Autodesk's strategic priorities. In parallel, Autodesk anticipates its fourth quarter fiscal year 2026 financial performance, including billings, revenue, and non-GAAP earnings per share, to exceed previous guidance. The company explicitly states its intention to exclude the restructuring charges from its non-GAAP financial measures, providing investors with a clearer view of ongoing operational performance. The Plan's completion is projected by the end of fiscal year 2027, subject to regulatory and consultation requirements.
Autodesk, Inc. 8-K Report, Financial Results (Nov 25, 2025)
Autodesk, Inc. (ADSK) has filed an 8-K report on November 25, 2025, announcing its financial results for the third fiscal quarter ended October 31, 2025. The report primarily includes a press release detailing these results and providing insights into the company's performance metrics and financial reporting methodologies. Autodesk emphasizes its use of key performance indicators such as billings, recurring revenue, and net revenue retention rate (NR3) to monitor business strength and long-term health, alongside traditional GAAP measures. The company also elaborates on its use of non-GAAP financial measures, including non-GAAP net earnings and diluted earnings per share. These measures are presented to offer a clearer view of core business operations by excluding items like stock-based compensation, amortization of intangibles, restructuring costs, acquisition-related expenses, and gains/losses on strategic investments. Autodesk highlights that these non-GAAP figures are intended to supplement, not replace, GAAP reporting and are used internally for decision-making and by institutional investors for analysis. Investors are encouraged to review the reconciliations between GAAP and non-GAAP measures provided in the accompanying press release.
Autodesk, Inc. 8-K Report, Financial Results (Aug 28, 2025)
Autodesk, Inc. (ADSK) has filed an 8-K report on August 28, 2025, to furnish a press release detailing its financial results for the second fiscal quarter ended July 31, 2025. The filing emphasizes key performance metrics such as billings, recurring revenue, and Net Revenue Retention Rate (NR3), which the company utilizes to assess the health and long-term trajectory of its subscription-based business model. These metrics are presented as supplementary to GAAP financial measures and are intended to offer a clearer view of operational performance. The report also highlights the use of non-GAAP financial measures, including non-GAAP net earnings and diluted earnings per share. Autodesk explains that these measures exclude items like stock-based compensation, amortization of intangibles, restructuring costs, acquisition-related expenses, and gains/losses on strategic investments, as well as certain tax adjustments. The company believes these non-GAAP figures provide valuable insights for investors by reflecting the core business's earning potential and facilitating comparisons across periods and with peers, while acknowledging the importance of reviewing GAAP figures and the provided reconciliations for a complete financial picture.
Autodesk, Inc. 8-K Report, Regulation FD Disclosure (Jul 14, 2025)
Autodesk, Inc. (ADSK) filed an 8-K on July 14, 2025, providing a business update focused on the company's strategic priorities and confidence in driving long-term shareholder value. The update reiterates a commitment to executing plans centered around cloud, platform, and artificial intelligence (AI) advancements. Autodesk also highlighted its ongoing efforts to optimize sales and marketing operations to enhance profit margins, alongside a disciplined capital allocation strategy. This includes prioritizing organic investments, pursuing strategic tuck-in acquisitions, and continuing its share repurchase program as free cash flow growth permits. While the filing does not introduce specific new financial figures, it serves to reinforce management's strategic direction and optimism. Investors should note that the company explicitly states this information is for disclosure purposes and not deemed 'filed' under Section 18 of the Exchange Act, meaning it carries no direct liability under that specific section. The filing also includes a comprehensive safe harbor statement detailing numerous risks and uncertainties that could impact future results, ranging from product adoption and global economic conditions to geopolitical tensions and technological changes, including those related to AI and its new transaction model.
Autodesk, Inc. 8-K Report, Executive Changes (Jun 20, 2025)
Autodesk, Inc. (ADSK) filed an 8-K on June 19, 2025, detailing key updates from its Annual Meeting of Stockholders held on June 18, 2025. The most significant disclosures include the formal appointment of Jeff Epstein and A. Christine Simons to the Audit Committee of the Board of Directors, both of whom have been designated as "audit committee financial experts." This strengthens the oversight capabilities of the Audit Committee, a crucial function for investor confidence. Furthermore, Autodesk's stockholders overwhelmingly approved the amendment and restatement of the 2022 Equity Incentive Plan. This plan is a critical component of the company's executive and employee compensation strategy, influencing talent retention and long-term performance. Investors should note that the details of this amended plan were previously outlined in the company's proxy statement filed on May 6, 2025. The filing also confirms the election of ten directors to the Board, all of whom received substantial shareholder support.
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