Autodesk, Inc. (ADSK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-51.4%

$127.38

vs $262.25 price

Levered DCF

$238.08

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

4.17

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	47.89×	60.22×	60.58×	56.47×	110.53×	51.96×	200.87×	-397.84×
P/B	17.69×	25.54×	29.55×	40.59×	64.63×	65.06×	-310.91×	-152.42×
P/S	7.47×	10.92×	9.97×	9.29×	12.51×	16.57×	13.21×	12.51×
EV / EBITDA	28.51×	43.41×	43.57×	40.44×	71.48×	87.49×	92.46×	318.8×
Gross margin	92.3%	90.6%	90.7%	90.4%	90.5%	91.1%	90.1%	88.9%
Operating margin	21.9%	22.3%	20.5%	19.8%	14.1%	16.6%	10.5%	-1.0%
Net margin	15.6%	18.1%	16.5%	16.4%	11.3%	31.9%	6.6%	-3.1%
Current ratio	0.85×	0.68×	0.82×	0.84×	0.69×	0.83×	0.83×	0.7×
Debt / equity	0.9×	0.98×	1.42×	2.33×	3.6×	2.18×	-18.29×	-9.9×
Interest coverage	0×	0×	0×	13.93×	8.11×	12.5×	5.72×	-0.48×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	36.9%	42.4%	48.8%	71.9%	58.5%	125.1%	-154.2%	38.3%
Return on invested capital	16.5%	18.2%	16.0%	15.6%	10.8%	15.4%	7.2%	-1.0%
Return on assets	9.0%	10.3%	9.1%	8.7%	5.8%	16.6%	3.5%	-1.7%
Free cash flow yield	4.5%	2.3%	2.3%	4.4%	2.7%	2.1%	3.1%	1.0%
Earnings yield	2.1%	1.7%	1.7%	1.8%	0.9%	1.9%	0.5%	-0.3%
Enterprise value	$54.3B	$67.9B	$55.6B	$47.2B	$56.4B	$63.2B	$44B	$33.3B
Net debt / EBITDA	0.25×	0.61×	0.58×	0.62×	1.94×	0.46×	1.62×	11.49×
Cash conversion cycle (days)	-206	-93	-13	-7	-46	-71	-21	-62