Stock Analysis on Net
Stock Analysis on Net

Autodesk Inc. (NASDAQ:ADSK)

This company has been moved to the archive! The financial data has not been updated since December 3, 2021.

Analysis of Goodwill and Intangible Assets

Microsoft Excel

Goodwill and Intangible Asset Disclosure

Autodesk Inc., balance sheet: goodwill and intangible assets

US$ in thousands

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Goodwill 2,706,500 2,445,000 2,450,800 1,620,200 1,561,100 1,535,000
Developed technologies, at cost 698,400 647,100 670,200 578,500 583,600 571,400
Customer relationships, trade names, patents, and user lists, at cost 548,800 532,200 533,100 372,500 375,900 371,600
Other intangible assets, at cost 1,247,200 1,179,300 1,203,300 951,000 959,500 943,000
Accumulated amortization (1,047,900) (972,200) (922,500) (895,800) (862,000) (796,200)
Other intangible assets, net 199,300 207,100 280,800 55,200 97,500 146,800
Goodwill and other intangible assets, net 2,905,800 2,652,100 2,731,600 1,675,400 1,658,600 1,681,800

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

Item Description The company
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Autodesk Inc. goodwill decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Other intangible assets, net Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Autodesk Inc. other intangible assets, net decreased from 2019 to 2020 and from 2020 to 2021.
Goodwill and other intangible assets, net Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Autodesk Inc. goodwill and other intangible assets, net decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Adjustments to Financial Statements: Removal of Goodwill

Autodesk Inc., adjustments to financial statements

US$ in thousands

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Adjustment to Total Assets
Total assets (as reported) 7,279,800 6,179,300 4,729,200 4,113,600 4,798,100 5,515,300
Less: Goodwill 2,706,500 2,445,000 2,450,800 1,620,200 1,561,100 1,535,000
Total assets (adjusted) 4,573,300 3,734,300 2,278,400 2,493,400 3,237,000 3,980,300
Adjustment to Stockholders’ Equity (deficit)
Stockholders’ equity (deficit) (as reported) 965,500 (139,100) (210,900) (256,000) 733,600 1,619,600
Less: Goodwill 2,706,500 2,445,000 2,450,800 1,620,200 1,561,100 1,535,000
Stockholders’ equity (deficit) (adjusted) (1,741,000) (2,584,100) (2,661,700) (1,876,200) (827,500) 84,600

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

Autodesk Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Autodesk Inc., adjusted financial ratios

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Total Asset Turnover
Reported total asset turnover 0.52 0.53 0.54 0.50 0.42 0.45
Adjusted total asset turnover 0.83 0.88 1.13 0.82 0.63 0.63
Financial Leverage
Reported financial leverage 7.54 — — — 6.54 3.41
Adjusted financial leverage — — — — — 47.05
Return on Equity (ROE)
Reported ROE 125.14% — — — -79.35% -20.41%
Adjusted ROE — — — — — -390.66%
Return on Assets (ROA)
Reported ROA 16.60% 3.47% -1.71% -13.78% -12.13% -5.99%
Adjusted ROA 26.42% 5.74% -3.55% -22.74% -17.98% -8.30%

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Autodesk Inc. adjusted total asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Autodesk Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Autodesk Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Selected Financial Data (US$ in thousands)
Net revenue 3,790,400 3,274,300 2,569,800 2,056,600 2,031,000 2,504,100
Total assets 7,279,800 6,179,300 4,729,200 4,113,600 4,798,100 5,515,300
Activity Ratio
Total asset turnover1 0.52 0.53 0.54 0.50 0.42 0.45
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net revenue 3,790,400 3,274,300 2,569,800 2,056,600 2,031,000 2,504,100
Adjusted total assets 4,573,300 3,734,300 2,278,400 2,493,400 3,237,000 3,980,300
Activity Ratio
Adjusted total asset turnover2 0.83 0.88 1.13 0.82 0.63 0.63

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

2021 Calculations

1 Total asset turnover = Net revenue ÷ Total assets
= 3,790,400 ÷ 7,279,800 = 0.52

2 Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= 3,790,400 ÷ 4,573,300 = 0.83

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Autodesk Inc. adjusted total asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Adjusted Financial Leverage

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Selected Financial Data (US$ in thousands)
Total assets 7,279,800 6,179,300 4,729,200 4,113,600 4,798,100 5,515,300
Stockholders’ equity (deficit) 965,500 (139,100) (210,900) (256,000) 733,600 1,619,600
Solvency Ratio
Financial leverage1 7.54 — — — 6.54 3.41
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted total assets 4,573,300 3,734,300 2,278,400 2,493,400 3,237,000 3,980,300
Adjusted stockholders’ equity (deficit) (1,741,000) (2,584,100) (2,661,700) (1,876,200) (827,500) 84,600
Solvency Ratio
Adjusted financial leverage2 — — — — — 47.05

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

2021 Calculations

1 Financial leverage = Total assets ÷ Stockholders’ equity (deficit)
= 7,279,800 ÷ 965,500 = 7.54

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity (deficit)
= 4,573,300 ÷ -1,741,000 = —

Adjusted Return on Equity (ROE)

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) 1,208,200 214,500 (80,800) (566,900) (582,100) (330,500)
Stockholders’ equity (deficit) 965,500 (139,100) (210,900) (256,000) 733,600 1,619,600
Profitability Ratio
ROE1 125.14% — — — -79.35% -20.41%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) 1,208,200 214,500 (80,800) (566,900) (582,100) (330,500)
Adjusted stockholders’ equity (deficit) (1,741,000) (2,584,100) (2,661,700) (1,876,200) (827,500) 84,600
Profitability Ratio
Adjusted ROE2 — — — — — -390.66%

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

2021 Calculations

1 ROE = 100 × Net income (loss) ÷ Stockholders’ equity (deficit)
= 100 × 1,208,200 ÷ 965,500 = 125.14%

2 Adjusted ROE = 100 × Net income (loss) ÷ Adjusted stockholders’ equity (deficit)
= 100 × 1,208,200 ÷ -1,741,000 = —

Adjusted Return on Assets (ROA)

Microsoft Excel
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) 1,208,200 214,500 (80,800) (566,900) (582,100) (330,500)
Total assets 7,279,800 6,179,300 4,729,200 4,113,600 4,798,100 5,515,300
Profitability Ratio
ROA1 16.60% 3.47% -1.71% -13.78% -12.13% -5.99%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) 1,208,200 214,500 (80,800) (566,900) (582,100) (330,500)
Adjusted total assets 4,573,300 3,734,300 2,278,400 2,493,400 3,237,000 3,980,300
Profitability Ratio
Adjusted ROA2 26.42% 5.74% -3.55% -22.74% -17.98% -8.30%

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

2021 Calculations

1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 1,208,200 ÷ 7,279,800 = 16.60%

2 Adjusted ROA = 100 × Net income (loss) ÷ Adjusted total assets
= 100 × 1,208,200 ÷ 4,573,300 = 26.42%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Autodesk Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.