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Arphra AIPlain-English read on Autodesk, Inc.’s valuationIncome statement
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $4.4B | $4.95B | $5.44B | $6.13B | $7.21B | $8.19B | $9.04B | $9.98B | $11.03B |
| Cost of revenue | $458M | $517M | $553M | $578M | $703M | $819.17M | $888.18M | $975.54M | $1.06B |
| Gross profit | $3.94B | $4.43B | $4.89B | $5.55B | $6.5B | $7.23B | $8.18B | $8.91B | $10.1B |
| Gross margin | +89.59% | +89.54% | +89.83% | +90.57% | +90.24% | +88.30% | +90.49% | +89.22% | +91.50% |
| Operating | |||||||||
| Research & development | $1.11B | $1.21B | $1.37B | $1.49B | $1.64B | $1.97B | $2.22B | $2.46B | $2.7B |
| Selling, general & administrative | $2.17B | $2.22B | $2.4B | $2.65B | $3.07B | $3.59B | $3.99B | $4.39B | $4.88B |
| Total operating expenses | $3.28B | $3.44B | $3.77B | $4.2B | $4.71B | $5.62B | $6.05B | $6.73B | $7.28B |
| Operating income | $660.8M | $992M | $1.11B | $1.35B | $1.79B | $1.84B | $2.03B | $2.3B | $2.45B |
| Operating margin | +15.02% | +20.06% | +20.46% | +22.08% | +24.90% | +22.51% | +22.39% | +23.06% | +22.21% |
| EBITDA | $789M | $1.17B | $1.27B | $1.55B | $1.8B | $1.98B | $2.17B | $2.4B | $2.67B |
| EBIT | $640.9M | $1.02B | $1.14B | $1.37B | $1.6B | $1.82B | $2B | $2.17B | $2.36B |
| Below the line | |||||||||
| Interest expense | $76.2M | $71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest income | $0 | $0 | $26M | $28M | $25M | $34.61M | $38.38M | $42.57M | $48.2M |
| Other income / expense | -$96.1M | -$46M | $23M | $30M | -$191M | — | — | — | — |
| Pre-tax income | $564.7M | $946M | $1.14B | $1.38B | $1.6B | $1.75B | $1.99B | $2.18B | $2.47B |
| Income tax expense | $67.7M | $123M | $230M | $272M | $479M | $414.62M | $456.15M | $504.39M | $578.47M |
| Earnings | |||||||||
| Net income | $497M | $823M | $906M | $1.11B | $1.12B | $1.35B | $1.48B | $1.66B | $1.82B |
| Net income · continuing ops | $497M | $823M | $906M | $1.11B | $1.12B | $1.38B | $1.49B | $1.71B | $1.87B |
| Net margin | +11.30% | +16.64% | +16.65% | +18.14% | +15.60% | +16.46% | +16.38% | +16.63% | +16.46% |
| EPS · basic | $2.26 | $3.81 | $4.19 | $5.17 | $5.28 | $12.63 | $14.22 | $16.33 | $18.08 |
| EPS · diluted | $2.24 | $3.78 | $4.19 | $5.12 | $5.23 | $12.56 | $14.18 | $16.19 | $17.89 |
| EPS · low estimate | — | — | — | — | — | $12.37 | $13.32 | $14.54 | $17.58 |
| EPS · high estimate | — | — | — | — | — | $12.75 | $14.99 | $17.52 | $18.43 |
| Shares · basic | 219.7M | 216M | 216M | 215M | 213M | 213.26M | 213.24M | 212.17M | 211.29M |
| Shares · diluted | 222M | 218M | 216M | 217M | 215M | 216.7M | 212.85M | 217.02M | 215.66M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 24 | 24 | 13 | 7 |
| Analysts (EPS) | — | — | — | — | — | 18 | 19 | 9 | 3 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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