Name: Autodesk Inc. (NASDAQ:ADSK) | Common-Size Income Statement (Quarterly)
Creator: Stock Analysis on Net

Common-Size Income Statement
Quarterly Data

Autodesk Inc., common-size consolidated income statement (quarterly data)

3 months ended:	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019	Jan 31, 2019	Oct 31, 2018	Jul 31, 2018	Apr 30, 2018
Subscription	92.80%	93.55%	93.86%	91.15%	92.93%	94.42%	94.01%	92.11%	92.81%	93.78%	93.08%	92.56%	95.11%	95.94%	95.77%	91.45%	92.86%	92.13%	90.66%	86.45%	84.85%	83.30%	81.01%	74.60%	72.82%	68.76%	62.58%
Maintenance	0.57%	0.73%	0.78%	0.95%	0.85%	1.04%	1.10%	1.06%	1.25%	1.37%	1.54%	1.87%	1.56%	1.59%	1.93%	2.91%	4.18%	5.61%	7.01%	8.88%	10.82%	12.99%	15.23%	18.64%	22.71%	27.20%	32.36%
Subscription and maintenance revenue	93.38%	94.29%	94.64%	92.10%	93.78%	95.46%	95.11%	93.17%	94.06%	95.15%	94.62%	94.44%	96.67%	97.54%	97.71%	94.35%	97.04%	97.73%	97.67%	95.33%	95.67%	96.29%	96.23%	93.23%	95.54%	95.96%	94.95%
Other	6.62%	5.71%	5.36%	7.90%	6.22%	4.54%	4.89%	6.83%	5.94%	4.85%	5.38%	5.56%	3.33%	2.46%	2.29%	5.65%	2.96%	2.27%	2.33%	4.67%	4.33%	3.71%	3.77%	6.77%	4.46%	4.04%	5.05%
Net revenue	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Cost of subscription and maintenance revenue	-6.69%	-6.64%	-7.06%	-6.54%	-6.65%	-7.06%	-7.57%	-6.83%	-6.72%	-6.71%	-7.18%	-6.59%	-6.64%	-7.17%	-6.92%	-6.30%	-6.37%	-6.41%	-6.48%	-6.34%	-6.43%	-6.65%	-8.12%	-7.69%	-8.29%	-8.84%	-9.00%
Cost of other revenue	-1.21%	-1.20%	-1.41%	-1.36%	-1.49%	-1.56%	-1.58%	-1.52%	-1.48%	-1.70%	-1.62%	-1.57%	-1.57%	-1.49%	-1.43%	-1.60%	-1.62%	-1.64%	-1.93%	-1.99%	-2.01%	-2.25%	-1.88%	-2.09%	-2.10%	-2.01%	-2.29%
Amortization of developed technologies	-1.46%	-1.46%	-1.20%	-0.95%	-0.85%	-0.82%	-0.87%	-1.06%	-1.17%	-1.21%	-1.20%	-1.19%	-1.30%	-1.28%	-1.03%	-0.82%	-0.80%	-0.81%	-0.84%	-0.92%	-1.00%	-1.08%	-1.25%	-0.66%	-0.54%	-0.56%	-0.64%
Cost of revenue	-9.36%	-9.30%	-9.67%	-8.85%	-8.98%	-9.44%	-10.01%	-9.41%	-9.38%	-9.62%	-10.00%	-9.34%	-9.51%	-9.95%	-9.38%	-8.72%	-8.79%	-8.86%	-9.25%	-9.25%	-9.43%	-9.98%	-11.24%	-10.44%	-10.94%	-11.41%	-11.93%
Gross profit	90.64%	90.70%	90.33%	91.15%	91.02%	90.56%	89.99%	90.59%	90.63%	90.38%	90.00%	90.66%	90.49%	90.05%	90.62%	91.28%	91.21%	91.14%	90.75%	90.75%	90.57%	90.02%	88.76%	89.56%	89.06%	88.59%	88.07%
Marketing and sales	-33.44%	-31.89%	-33.10%	-32.61%	-31.05%	-33.38%	-35.93%	-33.31%	-35.47%	-35.00%	-35.81%	-35.31%	-37.25%	-37.63%	-38.12%	-37.41%	-37.73%	-38.43%	-38.53%	-38.86%	-39.24%	-39.76%	-42.60%	-43.51%	-45.03%	-47.26%	-49.37%
Research and development	-24.08%	-24.45%	-24.42%	-23.96%	-23.97%	-26.39%	-25.77%	-23.75%	-24.30%	-24.74%	-24.70%	-23.96%	-25.06%	-26.13%	-26.84%	-24.02%	-24.46%	-25.46%	-24.55%	-24.14%	-25.28%	-27.03%	-27.95%	-25.82%	-27.39%	-29.56%	-30.86%
General and administrative	-10.25%	-10.70%	-10.94%	-12.39%	-11.67%	-10.48%	-10.40%	-11.76%	-10.08%	-10.35%	-10.26%	-18.79%	-10.02%	-11.27%	-11.31%	-11.27%	-10.37%	-10.21%	-11.83%	-11.79%	-11.76%	-12.73%	-13.47%	-13.66%	-13.22%	-12.93%	-13.02%
Amortization of purchased intangibles	-0.83%	-0.86%	-0.78%	-0.75%	-0.71%	-0.82%	-0.79%	-0.76%	-0.78%	-0.73%	-0.94%	-0.85%	-0.99%	-1.05%	-0.83%	-0.84%	-1.01%	-1.04%	-1.10%	-1.08%	-1.15%	-1.22%	-1.33%	-0.84%	-0.64%	-0.62%	-0.68%
Restructuring and other exit costs, net	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	-0.03%	-0.03%	-0.26%	-0.56%	-2.26%	-4.02%
Operating expenses	-68.60%	-67.91%	-69.23%	-69.71%	-67.40%	-71.08%	-72.89%	-69.58%	-70.63%	-70.82%	-71.71%	-78.90%	-73.32%	-76.08%	-77.09%	-73.54%	-73.57%	-75.14%	-76.01%	-75.87%	-77.44%	-80.76%	-85.38%	-84.09%	-86.84%	-92.63%	-97.95%
Income (loss) from operations	22.04%	22.79%	21.10%	21.44%	23.62%	19.48%	17.10%	21.02%	20.00%	19.56%	18.29%	11.75%	17.17%	13.98%	13.52%	17.74%	17.64%	16.00%	14.75%	14.88%	13.12%	9.26%	3.37%	5.47%	2.22%	-4.04%	-9.88%
Interest and other income (expense), net	0.32%	0.60%	0.71%	1.50%	-0.99%	-0.30%	0.32%	0.00%	-1.09%	-0.81%	-1.62%	-2.91%	-0.52%	-0.88%	-0.24%	-1.28%	-1.25%	-1.87%	-4.53%	-1.17%	-1.69%	-0.92%	-2.20%	-0.99%	-0.48%	0.21%	-1.52%
Income (loss) before income taxes	22.36%	23.39%	21.81%	22.94%	22.63%	19.18%	17.42%	21.02%	18.91%	18.76%	16.67%	8.84%	16.65%	13.10%	13.28%	16.46%	16.39%	14.13%	10.22%	13.71%	11.44%	8.35%	1.17%	4.48%	1.74%	-3.83%	-11.39%
(Provision) benefit for income taxes	-4.84%	-4.65%	-4.02%	-3.74%	-5.59%	-2.68%	-4.73%	1.21%	-3.44%	-3.72%	-4.19%	-1.49%	-4.50%	-2.19%	2.45%	71.23%	-2.51%	-3.37%	-2.71%	0.95%	-3.52%	-3.30%	-4.46%	4.30%	-5.33%	-2.62%	-3.32%
Net income (loss)	17.52%	18.74%	17.78%	19.20%	17.04%	16.51%	12.69%	22.23%	15.47%	15.04%	12.48%	7.35%	12.14%	10.91%	15.73%	87.69%	13.88%	10.75%	7.51%	14.66%	7.92%	5.05%	-3.29%	8.78%	-3.59%	-6.44%	-14.72%

The financial trajectory reveals a comprehensive business model transformation, characterized by a decisive shift toward a subscription-based revenue stream and a significant expansion in operating margins over the analyzed period.

Revenue Composition and Model Transition: A fundamental transition in revenue generation is observed, with subscription revenue increasing from 62.58% of net revenue in April 2018 to 92.80% by October 2024. Conversely, maintenance revenue experienced a near-total decline, falling from 32.36% to 0.57% over the same period. This indicates a successful migration of the customer base from legacy maintenance contracts to a recurring subscription model.
Gross Profitability and Cost of Revenue: Gross profit margins remained exceptionally strong and stable, consistently hovering around or above 90%. The cost of revenue, primarily driven by the cost of subscription and maintenance, decreased from 11.93% in April 2018 to 9.36% by October 2024, reflecting high scalability and efficient delivery of the subscription service.
Operating Expense Optimization: There is a pronounced downward trend in operating expenses as a percentage of net revenue, which dropped from 97.95% in April 2018 to 68.60% in October 2024. The most significant reduction occurred in marketing and sales expenses, which declined from 49.37% to 33.44%. Research and development also saw a reduction from 30.86% to 24.08%, while general and administrative costs decreased from 13.02% to 10.25%. These trends suggest increased operational leverage as revenue scaled.
Operating and Net Income Performance: The company transitioned from operating losses to consistent profitability. Income from operations moved from -9.88% of net revenue in April 2018 to 22.04% by October 2024. Net income followed a similar trajectory, rising from -14.72% to 17.52%. A notable anomaly occurred in January 2021, where net income spiked to 87.69% due to a substantial one-time tax benefit of 71.23% of net revenue.

Overall, the data indicates a company that has successfully optimized its cost structure while pivoting its revenue model, resulting in a significant and sustainable increase in both operating and net profit margins.

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Autodesk Inc. (NASDAQ:ADSK)

Common-Size Income StatementQuarterly Data

Common-Size Income Statement
Quarterly Data