Revenue growth has accelerated to 18.4% as of 2027Q1, while operating margins expanded to 28.0% from 21.4% in 2024Q4, reflecting successful scaling of the subscription business.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 | Jan'98 | Jan'97 |
|---|
| Sales/Revenue | 7.51B | 7.21B | 6.13B | 5.5B | 5B | 4.39B | 3.79B | 3.27B | 2.57B | 2.06B | 2.03B | 2.5B | 2.51B | 2.27B | 2.31B | 2.22B | 1.95B | 1.71B | 2.32B | 2.17B | 1.84B | 1.54B | 1.24B | 951.64M | 824.95M | 947.49M | 936.32M | 820.18M | 871.88M | 768.68M | 496.7M |
| Revenue Growth % | 18.28% | 17.53% | 11.53% | 9.83% | 14.11% | 15.73% | 15.75% | 27.41% | 24.95% | 1.26% | -18.89% | -0.32% | 10.48% | -1.66% | 4.36% | 13.52% | 13.89% | -25.98% | 6.6% | 18.05% | 19.69% | 24.08% | 30.19% | 15.36% | -12.93% | 1.19% | 14.16% | -5.93% | 13.42% | 54.76% | -7.02% |
| Cost of Goods Sold | 665M | 650M | 578M | 511M | 480M | 418M | 337M | 324.9M | 285.9M | 303.4M | 341.9M | 370.7M | 342.1M | 274.3M | 238.5M | 229.1M | 196.6M | 191.8M | 219.1M | 206.9M | 216.6M | 171.1M | 169.7M | 148.13M | 140.16M | 151.2M | 107.88M | 94.75M | 82.18M | 89M | 29.5M |
| COGS % of Revenue | - | 9.02% | 9.43% | 9.3% | 9.59% | 9.53% | 8.89% | 9.92% | 11.13% | 14.75% | 16.83% | 14.8% | 13.62% | 12.06% | 10.31% | 10.34% | 10.07% | 11.19% | 9.46% | 9.53% | 11.77% | 11.13% | 13.7% | 15.57% | 16.99% | 15.96% | 11.52% | 11.55% | 9.43% | 11.58% | 5.94% |
| Gross Profit | 6.84B | 6.56B | 5.55B | 4.99B | 4.53B | 3.97B | 3.45B | 2.95B | 2.28B | 1.75B | 1.69B | 2.13B | 2.17B | 2B | 2.07B | 1.99B | 1.76B | 1.52B | 2.1B | 1.97B | 1.62B | 1.37B | 1.07B | 803.51M | 684.78M | 796.29M | 828.44M | 725.43M | 789.7M | 679.69M | 467.2M |
| Gross Margin % | 91.14% | 90.98% | 90.57% | 90.7% | 90.41% | 90.47% | 91.11% | 90.08% | 88.87% | 85.25% | 83.17% | 85.2% | 86.38% | 87.94% | 89.69% | 89.66% | 89.93% | 88.81% | 90.54% | 90.47% | 88.23% | 88.87% | 86.3% | 84.43% | 83.01% | 84.04% | 88.48% | 88.45% | 90.57% | 88.42% | 94.06% |
| Gross Profit Growth % | - | 18.06% | 11.37% | 10.19% | 14.04% | 14.91% | 17.07% | 29.14% | 30.27% | 3.79% | -20.83% | -1.69% | 8.53% | -3.57% | 4.39% | 13.18% | 15.33% | -27.39% | 6.67% | 21.06% | 18.82% | 27.77% | 33.07% | 17.34% | -14% | -3.88% | 14.2% | -8.14% | 16.19% | 45.48% | -5.16% |
| Operating Expenses | 4.84B | 4.76B | 4.18B | 3.86B | 3.54B | 3.35B | 2.82B | 2.61B | 2.31B | 2.26B | 2.19B | 2.13B | 2.05B | 1.71B | 1.77B | 1.63B | 1.48B | 1.46B | 1.85B | 1.52B | 1.27B | 987.6M | 837.5M | 697.28M | 659.82M | 698.11M | 689.66M | 689.92M | 646.52M | 558.29M | 402.7M |
| OpEx % of Revenue | - | 66.08% | 68.24% | 70.18% | 70.65% | 76.38% | 74.51% | 79.6% | 89.85% | 110% | 107.76% | 85.14% | 81.58% | 75.41% | 76.46% | 73.61% | 76.02% | 84.98% | 79.98% | 69.96% | 69.22% | 64.25% | 67.6% | 73.27% | 79.98% | 73.68% | 73.66% | 84.12% | 74.15% | 72.63% | 81.08% |
| Selling, General & Admin | 3.09B | 3.07B | 2.65B | 2.44B | 2.28B | 2.19B | 1.85B | 1.72B | 1.52B | 1.39B | 1.31B | 1.31B | 1.28B | 1.05B | 1.08B | 1.07B | 976.8M | 929.6M | 1.11B | 1.03B | 867.2M | 684.4M | 569.3M | 484.22M | 460.65M | 475.01M | 450.33M | 446.19M | 408.66M | 355.14M | 367.9M |
| SG&A % of Revenue | - | 42.55% | 43.22% | 44.44% | 45.49% | 50.05% | 48.92% | 52.41% | 59.3% | 67.71% | 64.52% | 52.27% | 51% | 46.37% | 46.79% | 48.1% | 50.05% | 54.25% | 47.79% | 47.61% | 47.14% | 44.52% | 45.95% | 50.88% | 55.84% | 50.13% | 48.1% | 54.4% | 46.87% | 46.2% | 74.07% |
| Research & Development | 1.67B | 1.64B | 1.49B | 1.37B | 1.22B | 1.11B | 932M | 851.1M | 725M | 755.5M | 766.1M | 790M | 725.2M | 611.1M | 600M | 566.5M | 496.2M | 457.5M | 576.1M | 485.3M | 406.3M | 303.2M | 241.5M | 209.35M | 172.99M | 168.57M | 170.49M | 163.99M | 157.08M | 136.82M | 93.7M |
| R&D % of Revenue | - | 22.8% | 24.22% | 24.98% | 24.36% | 25.42% | 24.59% | 25.99% | 28.21% | 36.74% | 37.72% | 31.55% | 28.87% | 26.87% | 25.95% | 25.57% | 25.42% | 26.7% | 24.88% | 22.34% | 22.08% | 19.72% | 19.49% | 22% | 20.97% | 17.79% | 18.21% | 19.99% | 18.02% | 17.8% | 18.86% |
| Other Operating Expenses | 4M | 53M | 49M | 42M | 40M | 40M | 38M | 39.4M | 59.9M | 114.3M | 112.3M | 33.2M | 42.9M | 49.3M | 86M | -1.3M | 10.8M | 69.2M | 169.1M | 0 | 0 | 0 | 26.7M | 3.71M | 26.19M | 54.53M | 68.84M | 79.75M | 80.78M | 66.33M | -58.9M |
| Operating Income | 2B | 1.79B | 1.37B | 1.13B | 989M | 618M | 629M | 343M | -25M | -509.1M | -499.6M | 1.3M | 120.7M | 284.8M | 305.9M | 355.6M | 271.4M | 65.6M | 244.5M | 445.6M | 349.7M | 378.5M | 231.7M | 106.24M | 24.96M | 98.17M | 138.78M | 35.51M | 143.18M | 121.4M | 64.5M |
| Operating Margin % | 26.6% | 24.9% | 22.33% | 20.52% | 19.76% | 14.09% | 16.6% | 10.48% | -0.97% | -24.75% | -24.6% | 0.05% | 4.8% | 12.52% | 13.23% | 16.05% | 13.91% | 3.83% | 10.56% | 20.52% | 19.01% | 24.62% | 18.7% | 11.16% | 3.03% | 10.36% | 14.82% | 4.33% | 16.42% | 15.79% | 12.99% |
| Operating Income Growth % | - | 31.04% | 21.37% | 14.05% | 60.03% | -1.75% | 83.38% | 1472% | 95.09% | -1.9% | -38530.77% | -98.92% | -57.62% | -6.9% | -13.98% | 31.02% | 313.72% | -73.17% | -45.13% | 27.42% | -7.61% | 63.36% | 118.1% | 325.59% | -74.57% | -29.26% | 290.81% | -75.2% | 17.94% | 88.22% | -50% |
| EBITDA | 2.2B | 1.99B | 1.55B | 1.27B | 1.14B | 766M | 753M | 470.3M | 70.2M | -400.7M | -360.4M | 147.1M | 266.6M | 413.7M | 433.7M | 471.1M | 376.8M | 177.1M | 336.3M | 506.9M | 403.2M | 422.2M | 283.6M | 156.53M | 73.81M | 161.08M | 207.62M | 115.26M | 223.96M | 187.73M | 99.3M |
| EBITDA Margin % | 29.33% | 27.6% | 25.26% | 23.05% | 22.76% | 17.46% | 19.87% | 14.36% | 2.73% | -19.48% | -17.75% | 5.87% | 10.61% | 18.19% | 18.76% | 21.26% | 19.31% | 10.33% | 14.53% | 23.34% | 21.92% | 27.47% | 22.89% | 16.45% | 8.95% | 17% | 22.17% | 14.05% | 25.69% | 24.42% | 19.99% |
| EBITDA Growth % | 37.97% | 28.41% | 22.26% | 11.24% | 48.69% | 1.73% | 60.11% | 569.94% | 117.52% | -11.18% | -345% | -44.82% | -35.56% | -4.61% | -7.94% | 25.03% | 112.76% | -47.34% | -33.66% | 25.72% | -4.5% | 48.87% | 81.18% | 112.08% | -54.18% | -22.42% | 80.14% | -48.54% | 19.3% | 89.05% | -35.6% |
| D&A (Non-Cash Add-back) | 147M | 195M | 180M | 139M | 150M | 148M | 124M | 127.3M | 95.2M | 108.4M | 139.2M | 145.8M | 145.9M | 128.9M | 127.8M | 115.5M | 105.4M | 111.5M | 91.8M | 61.3M | 53.5M | 43.7M | 51.9M | 50.29M | 48.84M | 62.91M | 68.84M | 79.75M | 80.78M | 66.33M | 34.8M |
| EBIT | 2.06B | 1.79B | 1.37B | 1.13B | 1.02B | 618M | 598M | 348.8M | 9.4M | -522.8M | -494.1M | 13.6M | 96.2M | 289.7M | 349.8M | 354.3M | 282.2M | 134.8M | 413.6M | 445.6M | 349.7M | 378.5M | 258.4M | 109.42M | 50.85M | 131.8M | 138.78M | 35.51M | 143.18M | 121.4M | 64.5M |
| Net Interest Income | 24M | 25M | 28M | 26M | -71M | -76.2M | -50.3M | -60M | -52.3M | -34.5M | -29.7M | -33.9M | -13.2M | -9.8M | 4.9M | 5.7M | 10.9M | 10M | 13.6M | 33.4M | 20.7M | 10.8M | 7.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 26M | 25M | 28M | 26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.9M | 5.7M | 10.9M | 10M | 13.6M | 33.4M | 20.7M | 10.8M | 7.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2M | 0 | 0 | 0 | 71M | 76.2M | 50.3M | 60M | 52.3M | 34.5M | 29.7M | 33.9M | 13.2M | 9.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -29M | -191M | 15M | 8M | -43M | -53M | -82M | -48.2M | -17.7M | -48.2M | -24.2M | -21.6M | -37.7M | -4.9M | 4.1M | 7.3M | 600K | 19.1M | 8M | 24.4M | 16.8M | 13.2M | 11.4M | 16.96M | 13.5M | 28.52M | 5.99M | -11.59M | 16.05M | -14.7M | 2M |
| Pretax Income | 1.97B | 1.6B | 1.38B | 1.14B | 946M | 565M | 547M | 294.8M | -42.7M | -557.3M | -523.8M | -20.3M | 83M | 279.9M | 310M | 362.9M | 272M | 84.7M | 252.5M | 470M | 366.5M | 391.7M | 243.1M | 123.2M | 38.47M | 126.69M | 144.77M | 23.92M | 159.22M | 106.7M | 66.5M |
| Pretax Margin % | 26.22% | 22.25% | 22.57% | 20.67% | 18.9% | 12.88% | 14.43% | 9% | -1.66% | -27.1% | -25.79% | -0.81% | 3.3% | 12.31% | 13.41% | 16.38% | 13.94% | 4.94% | 10.91% | 21.64% | 19.92% | 25.48% | 19.62% | 12.95% | 4.66% | 13.37% | 15.46% | 2.92% | 18.26% | 13.88% | 13.39% |
| Income Tax | 505M | 479M | 272M | 230M | 123M | 68M | -661M | 80.3M | 38.1M | 9.6M | 58.3M | 310.2M | 1.2M | 51.1M | 62.6M | 77.6M | 60M | 26.7M | 68.9M | 113.8M | 76.8M | 58.1M | 22M | 2.88M | 6.56M | 35.17M | 51.54M | 14.11M | 62.09M | 50.49M | 24.9M |
| Effective Tax Rate % | 25.66% | 29.88% | 19.65% | 20.25% | 13% | 12.04% | -120.84% | 27.24% | -89.23% | -1.72% | -11.13% | -1528.08% | 1.45% | 18.26% | 20.19% | 21.38% | 22.06% | 31.52% | 27.29% | 24.21% | 20.95% | 14.83% | 9.05% | 2.34% | 17.06% | 27.76% | 35.6% | 59% | 39% | 47.32% | 37.44% |
| Net Income | 1.46B | 1.12B | 1.11B | 906M | 823M | 497M | 1.21B | 214.5M | -80.8M | -566.9M | -582.1M | -330.5M | 81.8M | 228.8M | 247.4M | 285.3M | 212M | 58M | 183.6M | 356.2M | 289.7M | 333.6M | 221.1M | 120.32M | 31.9M | 90.31M | 93.23M | 9.81M | 97.13M | 56.22M | 41.6M |
| Net Margin % | 19.49% | 15.6% | 18.14% | 16.48% | 16.44% | 11.33% | 31.87% | 6.55% | -3.14% | -27.56% | -28.66% | -13.2% | 3.26% | 10.06% | 10.7% | 12.88% | 10.86% | 3.38% | 7.93% | 16.4% | 15.75% | 21.7% | 17.85% | 12.64% | 3.87% | 9.53% | 9.96% | 1.2% | 11.14% | 7.31% | 8.38% |
| Net Income Growth % | 44.57% | 1.08% | 22.74% | 10.09% | 65.59% | -58.86% | 463.17% | 365.47% | 85.75% | 2.61% | -76.13% | -504.03% | -64.25% | -7.52% | -13.28% | 34.58% | 265.52% | -68.41% | -48.46% | 22.95% | -13.16% | 50.88% | 83.77% | 277.12% | -64.67% | -3.13% | 850.58% | -89.9% | 72.79% | 35.13% | -52.62% |
| Net Income (Continuing) | 1.46B | 1.12B | 1.11B | 906M | 823M | 497M | 1.21B | 214.5M | -80.8M | -566.9M | -582.1M | -330.5M | 81.8M | 228.8M | 247.4M | 285.3M | 212M | 58M | 183.6M | 356.2M | 289.7M | 333.6M | 221.1M | 120.32M | 31.9M | 90.31M | 93.23M | 9.81M | 97.13M | 56.22M | 41.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.96M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 6.90 | 5.23 | 5.12 | 4.19 | 3.78 | 2.24 | 5.44 | 0.96 | -0.37 | -2.58 | -2.60 | -1.44 | 0.35 | 1.00 | 1.07 | 1.22 | 0.90 | 0.25 | 0.80 | 1.47 | 1.19 | 1.35 | 0.90 | 0.52 | 0.14 | 0.38 | 0.40 | 0.04 | 0.41 | 0.23 | 0.06 |
| EPS Growth % | 47.01% | 2.15% | 22.2% | 10.85% | 68.75% | -58.82% | 466.67% | 359.46% | 85.66% | 0.77% | -80.56% | -511.43% | -65% | -6.54% | -12.3% | 35.56% | 260% | -68.75% | -45.58% | 23.53% | -11.85% | 50% | 73.08% | 271.43% | -63.16% | -5% | 900% | -90.24% | 78.26% | 318.18% | -87.5% |
| EPS (Basic) | - | 5.28 | 5.17 | 4.19 | 3.81 | 2.26 | 5.51 | 0.98 | -0.37 | -2.58 | -2.60 | -1.44 | 0.36 | 1.02 | 1.09 | 1.25 | 0.93 | 0.25 | 0.81 | 1.55 | 1.26 | 1.46 | 0.97 | 0.54 | 0.14 | 0.40 | 0.41 | 0.04 | 0.43 | 0.24 | 0.06 |
| Diluted Shares Outstanding | 212M | 215M | 217M | 216M | 218M | 222M | 222.1M | 222.5M | 218.9M | 219.5M | 222.7M | 226M | 232.4M | 229.6M | 231.7M | 233.3M | 234.2M | 232.1M | 230.1M | 242M | 243.2M | 247.5M | 245.67M | 231.3M | 229.55M | 236.8M | 234.06M | 245.62M | 236.56M | 199.44M | 190.64M |
| Basic Shares Outstanding | 211M | 213M | 215M | 216M | 216M | 219.7M | 219.4M | 219.7M | 218.38M | 219.5M | 222.7M | 226M | 227.1M | 224M | 226.4M | 227.7M | 227.6M | 228.7M | 225.5M | 230.3M | 230.7M | 229M | 227.94M | 222.99M | 226.07M | 226.52M | 228.75M | 241.31M | 225.58M | 187.04M | 190.64M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.02% | 6.14% | 11.14% | 41.04% | 14.5% | 14.57% | 148.66% | 12.07% | 20.08% | 26.2% |
Governance and accounting scrutiny
As indicated by recent quarterly filings, Autodesk has successfully accelerated its top-line expansion, with revenue growth climbing from 11.5% in 2024Q4 to 18.4% by 2027Q1, reflecting the effective scaling of its subscription-based model across the core Architecture, Engineering, and Construction and manufacturing segments.
The consistent acceleration in revenue suggests that the company's transition to a direct-to-consumer billing model is successfully capturing more value from the existing user base. Investors should monitor whether this growth trajectory remains durable as the company faces potential saturation in its primary AEC markets.
Based on reported financial statements, Autodesk maintains a robust gross margin profile consistently exceeding 90%, with the most recent figure of 91.0% in 2027Q1 underscoring the negligible incremental cost of delivering software services to an expanding global user base.
This high-margin structure provides significant flexibility for the company to reinvest in R&D and sales initiatives without compromising core profitability. The stability of these margins suggests that the company retains substantial pricing power, likely bolstered by the deep integration of its proprietary file formats within industry workflows.
According to historical income statement data, Autodesk has demonstrated improved operating efficiency, with operating margins expanding from 21.4% in 2024Q4 to 28.0% in 2027Q1, suggesting that the company is beginning to realize economies of scale despite ongoing investments in its internal sales infrastructure.
The expansion in operating margins appears to be a direct result of disciplined expense management relative to the rapid revenue growth observed over the last ten quarters. However, the volatility in SG&A expenses warrants further investigation to determine if this leverage is sustainable or subject to future administrative cost spikes.
As reported in recent filings, Autodesk's net income quality is frequently impacted by significant stock-based compensation, which reached $155 million in 2027Q1, potentially obscuring the true economic profitability of the firm when compared to its reported GAAP earnings per share.
The reliance on equity-based incentives may indicate a strategy to preserve cash, but it simultaneously creates a persistent drag on shareholder value through dilution. Analysts should scrutinize the relationship between these compensation levels and the company's share repurchase activity to assess the net impact on long-term EPS growth.
Based on recent corporate disclosures, the ongoing internal audit committee investigation into free cash flow and operating margin practices introduces a layer of uncertainty that may suggest potential weaknesses in internal controls, warranting a cautious approach to interpreting the company's recent financial performance metrics.
While the headline growth figures appear strong, the potential for accounting adjustments or management reshuffling poses a material risk to the valuation multiple. Investors should monitor for any further disclosures regarding these governance issues, as they may indicate that historical margin expansion was less organic than previously assumed.
Quick answers to the most common questions about buying ADSK stock.
For fiscal year 2026, Autodesk, Inc. (ADSK) reported total revenue of $7.21B. This represents a 1350.8% increase compared to $496.7M in 1997.
Autodesk, Inc. (ADSK) is profitable, generating $1.12B in net income for the fiscal year ending 2026 with a net profit margin of 15.6%.
Autodesk, Inc. (ADSK) reported an operating income of $1.79B, resulting in an operating profit margin of 24.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Autodesk, Inc. (ADSK) generated $6.56B in gross profit for the year, representing a gross profit margin of 91.0%. This demonstrates the company's core pricing power and production efficiency.