01—Abstract
Summary
Summary of the 10-K filed March 3, 2026. Cited figures are marked; the original filing is the authoritative source.
Autodesk, Inc. reported a strong fiscal year 2026, with total net revenue reaching $7.21 billiona, an increase of 18% year-over-year, driven primarily by subscription revenue.
The company continues its strategic shift towards a subscription-based model, with recurring revenue constituting 97% of total net revenue. Remaining Performance Obligations (RPO) grew by 20% to $8.30 billionb, indicating a healthy pipeline of future revenue. Autodesk is also making progress on its platform capabilities, integrating AI and expanding its cloud offerings like Forma for Construction and Fusion.
The company's financial performance has been robust, with significant growth in cash flow from operations, enabling substantial share repurchases. Autodesk's strategy focuses on customer workflow convergence through its design and make platform, leveraging automation, data, and insights. Key priorities include enhancing its platform, accelerating adoption of newer products like Fusion and Forma, and transforming customer experience.
While the company faces competition and evolving technological landscapes, its investments in R&D and strategic acquisitions, such as Payapps in fiscal 2025, position it for continued growth. The company also highlighted its commitment to sustainability and impact programs, aligning with UN Sustainable Development Goals.
02—Key points
Key Highlights
- Total net revenue increased by 18% to $7.21 billion in fiscal year 2026, driven by subscription growth.
- Recurring revenue remains high at 97% of total net revenue.
- Remaining Performance Obligations (RPO) grew 20% to $8.30 billion, signaling strong future revenue potential.
- Cash flow from operations increased significantly to $2.45 billion in fiscal year 2026.
- Autodesk repurchased $1.40 billion of its common stock in fiscal year 2026, demonstrating commitment to returning capital to shareholders.
- The company is enhancing its platform capabilities with AI integration and expanding cloud offerings like Forma for Construction and Fusion.
- Strategic acquisitions, such as Payapps in fiscal 2025, are being made to strengthen product portfolios and expand market reach.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2026, Autodesk kept $0.16.
- Revenue$7.21B100.0%
- Cost of revenue−$650.0M9.0%
- Gross profit$6.56B91.0%
- Operating costs−$4.98B69.1%
- Operating income$1.58B21.9%
- Interest, other & tax−$454.0M6.3%
- Net income$1.12B15.6%
Where FY2026 revenue went
$7.21B- Other operating costs: $3.33B, 46% of revenue
- R&D: $1.64B, 23% of revenue
- Net income: $1.12B, 16% of revenue
- Cost of revenue: $650.0M, 9.0% of revenue
- Interest, other & tax: $454.0M, 6.3% of revenue
Kept 16% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2026filed March 3, 2026Financial Statements
FY2026 against FY2025
| Line item | FY2026FY2025 | Change |
|---|---|---|
| Revenue | $7.21B$6.13B | +17.5% |
| Cost of Revenue | $650.00M$578.00M | +12.5% |
| Gross Profit | $6.56B$5.55B | +18.1% |
| R&D Expenses | $1.64B$1.49B | +10.6% |
| Operating Expenses | $4.98B$4.20B | +18.6% |
| Operating Income | $1.58B$1.35B | +16.5% |
| Interest Expense | $80.00M$71.00M | +12.7% |
| Net Income | $1.12B$1.11B | +1.1% |
| EPS (Basic) | $5.28$5.17 | +2.1% |
| EPS (Diluted) | $5.23$5.12 | +2.1% |
| Shares Outstanding (Basic) | 213.00M215.00M | −0.9% |
| Shares Outstanding (Diluted) | 215.00M217.00M | −0.9% |
05—Questions
Frequently Asked Questions
What is Autodesk's primary growth driver and how is the company shifting its business model?
Autodesk's primary growth driver is its subscription-based model, which now accounts for 97% of its total net revenue. The company has been transitioning away from perpetual licenses to subscription plans, offering increased flexibility and cloud-based functionalities to its customers.
How is Autodesk investing in innovation and future growth?
Autodesk is investing heavily in research and development, particularly in areas like Artificial Intelligence (AI), machine learning, and generative design, to enhance its existing products and create new solutions. The company is also focused on expanding its cloud offerings, such as Forma for Construction and Fusion, and has made strategic acquisitions like Payapps to bolster its product portfolio and market presence.
What is Autodesk's financial health and capital allocation strategy?
Autodesk demonstrated strong financial health in fiscal year 2026, with substantial growth in revenue and operating cash flow. The company is actively returning capital to shareholders through share repurchases, repurchasing $1.40 billion of its common stock in fiscal year 2026, and maintains a significant cash balance. It also has a revolving credit facility available for corporate purposes.
What are the key risks facing Autodesk, as highlighted in the filing?
Key risks highlighted include intense competition in the software industry, rapid technological changes, reliance on a subscription renewal model, global economic and political uncertainties, cybersecurity threats, and the potential for intellectual property disputes. The company also noted past legal proceedings related to its financial reporting practices, although these matters have reportedly been closed by regulatory bodies.
06—Continue