Autodesk Inc. (NASDAQ:ADSK)

The asset composition of the balance sheet exhibits a shift from a heavily goodwill-concentrated structure toward a more diversified distribution of assets over the six-year period. Current assets have remained relatively stable, fluctuating between approximately 32% and 43% of total assets, while long-term assets have consistently comprised the majority of the asset base, generally ranging between 57% and 68%.

Liquidity and Short-Term Asset Trends

Cash and cash equivalents peaked in 2020 at 28.72% before stabilizing around 19% by 2024. Marketable securities have remained a small portion of the total assets, though a gradual increase in long-term marketable securities is noted, rising from 0.53% in 2022 to 2.36% in 2024. Accounts receivable have remained consistent, typically oscillating between 8% and 11%, indicating stable credit management relative to the growth of the total asset base.

Intangible Assets and Goodwill

Goodwill represented over half of the total assets in 2019 at 51.82%, but this proportion declined significantly, settling at 36.85% by 2024. Intangible assets have followed a similar pattern of volatility, decreasing from 5.94% in 2019 to 4.10% in 2024. This downward trend in the relative weight of goodwill and intangibles suggests either an increase in the scale of tangible and financial assets or a reduction in the book value of acquired intangibles over time.

Operational and Tax-Related Asset Shifts

A distinct downward trend is observed in operating lease right-of-use assets, which fell from a high of 7.10% in 2020 to 2.26% in 2024. Conversely, deferred income taxes, net, showed a sharp increase starting in 2021, jumping from 0.91% to 10.48% and ending the period at 11.03%, representing a significant structural change in the long-term asset profile. Long-term other assets have also seen a steady increase, rising from 3.44% in 2019 to 6.07% in 2024.