Debt to Equity
since 2005
Calculation
Autodesk Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term notes payable, net, including current portion1 | ÷ | Stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Jan 31, 2024 | 1.23 | = | 2,284) | ÷ | 1,855) |
| Jan 31, 2023 | 1.99 | = | 2,281) | ÷ | 1,145) |
| Jan 31, 2022 | 3.09 | = | 2,628) | ÷ | 849) |
| Jan 31, 2021 | 1.70 | = | 1,637) | ÷ | 966) |
| Jan 31, 2020 | — | = | 2,085) | ÷ | (139) |
| Jan 31, 2019 | — | = | 2,088) | ÷ | (211) |
| Jan 31, 2018 | — | = | 1,586) | ÷ | (256) |
| Jan 31, 2017 | 2.03 | = | 1,491) | ÷ | 734) |
| Jan 31, 2016 | 0.92 | = | 1,488) | ÷ | 1,620) |
| Jan 31, 2015 | 0.34 | = | 747) | ÷ | 2,219) |
| Jan 31, 2014 | 0.33 | = | 746) | ÷ | 2,262) |
| Jan 31, 2013 | 0.36 | = | 746) | ÷ | 2,043) |
| Jan 31, 2012 | 0.00 | = | —) | ÷ | 1,883) |
| Jan 31, 2011 | 0.00 | = | —) | ÷ | 1,609) |
| Jan 31, 2010 | 0.00 | = | —) | ÷ | 1,474) |
| Jan 31, 2009 | 0.04 | = | 52) | ÷ | 1,311) |
| Jan 31, 2008 | 0.00 | = | —) | ÷ | 1,231) |
| Jan 31, 2007 | 0.00 | = | —) | ÷ | 1,115) |
| Jan 31, 2006 | 0.00 | = | —) | ÷ | 791) |
| Jan 31, 2005 | 0.00 | = | —) | ÷ | 648) |
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 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), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
1 US$ in millions
The financial structure of the organization shifted from a low-leverage position to a period of significant capital volatility, followed by a recent trend toward stabilization. Between 2005 and 2014, the company maintained a conservative balance sheet characterized by steadily increasing stockholders' equity and minimal long-term debt.
- Debt Accumulation Patterns
- Long-term notes payable remained negligible until 2009, at which point they were 52 million USD. A significant increase occurred in 2013, with debt rising to 746 million USD. This upward trajectory continued over the following decade, peaking at 2.628 billion USD in 2022, before moderating to 2.284 billion USD by 2024.
- Equity Volatility and Deficits
- Stockholders' equity grew consistently from 648 million USD in 2005 to a peak of 2.262 billion USD in 2014. However, a sharp reversal occurred between 2015 and 2018, resulting in a stockholders' deficit that reached its lowest point of -256 million USD in 2018. Equity remained negative through 2020 before returning to positive territory in 2021 and recovering to 1.855 billion USD by 2024.
- Debt-to-Equity Ratio Analysis
- The debt-to-equity ratio reflects the inverse relationship between rising debt and eroding equity during the mid-to-late 2010s. The ratio rose from a negligible 0.04 in 2009 to 2.03 by 2017. Following the period of negative equity, the ratio spiked to a peak of 3.09 in 2023, indicating a high level of leverage relative to the equity base. By 2024, the ratio decreased significantly to 1.23, suggesting a reduction in financial risk and a restoration of balance sheet health.
The overall trajectory indicates a strategic shift toward higher leverage in the mid-term, likely coinciding with the period of equity deficits, followed by a recent corrective phase. The substantial decline in the debt-to-equity ratio from 2023 to 2024 reflects the combined effect of stabilized debt levels and a strong recovery in stockholders' equity.
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Comparison to Competitors
Autodesk Inc., debt to equity, long-term trends, comparison to competitors
| Autodesk Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 31, 2024 | 1.23 | 0.04 | 0.40 | 3.22 | 0.53 | 0.59 | 2.01 | 0.33 | 0.29 | 9.98 | 0.00 | 0.19 | 0.17 | 0.15 | 0.00 | 0.37 |
| Jan 31, 2023 | 1.99 | 0.01 | 0.22 | 2.48 | 0.19 | 0.37 | 2.51 | 0.35 | 0.31 | 84.33 | 0.00 | 1.14 | 0.20 | 0.20 | 0.00 | 0.53 |
| Jan 31, 2022 | 3.09 | 0.00 | 0.29 | 1.69 | 0.27 | 0.52 | 2.32 | 0.42 | 0.39 | — | 0.00 | 17.51 | 0.19 | 0.30 | 0.00 | 0.41 |
| Jan 31, 2021 | 1.70 | 0.00 | 0.28 | 1.51 | 0.13 | 0.71 | 2.74 | 0.21 | 0.50 | 16.08 | 0.00 | 5.08 | 0.07 | 0.43 | 0.02 | 0.55 |
| Jan 31, 2020 | — | 0.00 | 0.31 | — | 0.14 | 0.60 | 2.99 | 0.66 | 0.62 | 5.93 | 0.13 | 2.80 | 0.09 | 0.58 | 0.03 | 0.51 |
| Jan 31, 2019 | — | 0.00 | 0.39 | — | 0.16 | 0.00 | 3.02 | 0.12 | 0.77 | 2.58 | — | 0.90 | 0.22 | 0.33 | 0.03 | 0.62 |
| Jan 31, 2018 | — | 0.00 | 0.44 | — | 0.35 | — | 2.73 | 0.19 | 0.97 | 1.33 | — | 1.99 | 0.21 | 0.60 | 0.13 | 0.94 |
| Jan 31, 2017 | 2.03 | 0.00 | 0.22 | — | 0.74 | — | 2.66 | 0.36 | 1.23 | 1.08 | — | 0.69 | 0.32 | 2.01 | 0.04 | 0.46 |
| Jan 31, 2016 | 0.92 | 0.00 | 0.26 | — | 0.93 | — | 2.31 | 0.86 | 0.76 | 0.93 | — | 0.64 | 0.36 | 1.31 | 0.06 | 0.45 |
| Jan 31, 2015 | 0.34 | 0.00 | 0.27 | — | 0.25 | — | 2.80 | 0.21 | 0.44 | 0.86 | — | 1.00 | 0.49 | 0.84 | 0.07 | 0.44 |
| Jan 31, 2014 | 0.33 | 0.00 | 0.22 | — | 0.52 | — | 3.44 | 0.16 | 0.25 | 0.52 | — | 1.00 | 0.79 | 1.04 | 0.02 | 0.41 |
| Jan 31, 2013 | 0.36 | 0.01 | 0.23 | — | 0.28 | — | 1.74 | 0.14 | 0.20 | 0.41 | — | 0.00 | 0.25 | 1.05 | 0.04 | 0.04 |
| Jan 31, 2012 | 0.00 | 0.00 | 0.23 | — | 0.49 | — | 1.76 | 0.18 | 0.18 | 0.38 | — | 0.00 | 0.35 | 0.00 | 0.05 | — |
| Jan 31, 2011 | 0.00 | 0.00 | 0.26 | — | 1.04 | — | 1.56 | 0.38 | 0.21 | 0.40 | — | — | 0.38 | — | 0.00 | — |
| Jan 31, 2010 | 0.00 | 0.00 | 0.29 | — | 1.99 | — | 1.24 | 0.35 | 0.13 | 0.48 | — | — | 0.45 | — | 0.00 | — |
| Jan 31, 2009 | 0.04 | 0.00 | 0.20 | — | 4.02 | — | 1.15 | 0.39 | 0.15 | 0.41 | — | — | 0.01 | — | 0.00 | — |
| Jan 31, 2008 | 0.00 | 0.00 | 0.08 | — | 4.91 | — | 2.52 | 0.48 | 0.00 | 0.49 | — | — | 0.00 | — | 0.00 | — |
| Jan 31, 2007 | 0.00 | 0.01 | 0.00 | — | 0.35 | — | 1.24 | 0.49 | 0.00 | 0.45 | — | — | 0.00 | — | 0.00 | — |
| Jan 31, 2006 | 0.00 | 0.03 | 0.00 | — | 0.45 | — | 0.80 | 0.00 | 0.00 | 0.39 | — | — | 0.00 | — | 0.00 | — |
| Jan 31, 2005 | 0.00 | 0.04 | 0.00 | — | 0.31 | — | 0.68 | 0.00 | 0.00 | 0.26 | — | — | 0.01 | — | 0.00 | — |
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 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), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Sector (Software & Services)
Autodesk Inc., debt to equity, long-term trends, comparison to sector (software & services)
| Autodesk Inc. | Software & Services | |
|---|---|---|
| Jan 31, 2024 | 1.23 | 0.55 |
| Jan 31, 2023 | 1.99 | 0.64 |
| Jan 31, 2022 | 3.09 | 0.71 |
| Jan 31, 2021 | 1.70 | 0.83 |
| Jan 31, 2020 | — | 0.95 |
| Jan 31, 2019 | — | 1.04 |
| Jan 31, 2018 | — | 1.07 |
| Jan 31, 2017 | 2.03 | 1.14 |
| Jan 31, 2016 | 0.92 | 0.90 |
| Jan 31, 2015 | 0.34 | 0.73 |
| Jan 31, 2014 | 0.33 | 0.54 |
| Jan 31, 2013 | 0.36 | 0.46 |
| Jan 31, 2012 | 0.00 | 0.44 |
| Jan 31, 2011 | 0.00 | 0.47 |
| Jan 31, 2010 | 0.00 | 0.46 |
| Jan 31, 2009 | 0.04 | 0.44 |
| Jan 31, 2008 | 0.00 | 0.56 |
| Jan 31, 2007 | 0.00 | 0.50 |
| Jan 31, 2006 | 0.00 | 0.31 |
| Jan 31, 2005 | 0.00 | 0.26 |
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 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), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Industry (Information Technology)
Autodesk Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Autodesk Inc. | Information Technology | |
|---|---|---|
| Jan 31, 2024 | 1.23 | 0.61 |
| Jan 31, 2023 | 1.99 | 0.65 |
| Jan 31, 2022 | 3.09 | 0.70 |
| Jan 31, 2021 | 1.70 | 0.82 |
| Jan 31, 2020 | — | 0.95 |
| Jan 31, 2019 | — | 0.97 |
| Jan 31, 2018 | — | 0.82 |
| Jan 31, 2017 | 2.03 | 0.80 |
| Jan 31, 2016 | 0.92 | 0.65 |
| Jan 31, 2015 | 0.34 | 0.56 |
| Jan 31, 2014 | 0.33 | 0.38 |
| Jan 31, 2013 | 0.36 | 0.28 |
| Jan 31, 2012 | 0.00 | 0.24 |
| Jan 31, 2011 | 0.00 | 0.27 |
| Jan 31, 2010 | 0.00 | 0.24 |
| Jan 31, 2009 | 0.04 | 0.25 |
| Jan 31, 2008 | 0.00 | 0.28 |
| Jan 31, 2007 | 0.00 | 0.26 |
| Jan 31, 2006 | 0.00 | 0.19 |
| Jan 31, 2005 | 0.00 | 0.15 |
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 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), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).