Price to Book Value (P/BV)
since 2005
Calculation
Autodesk Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 10, 2024 | 25.34 | = | 218.20 | ÷ | 8.61 | 8.61 | = | 1,855 | ÷ | 215,446,979 | |
| Mar 14, 2023 | 37.37 | = | 199.22 | ÷ | 5.33 | 5.33 | = | 1,145 | ÷ | 214,782,702 | |
| Mar 14, 2022 | 48.29 | = | 188.70 | ÷ | 3.91 | 3.91 | = | 849 | ÷ | 217,307,974 | |
| Mar 19, 2021 | 59.48 | = | 261.50 | ÷ | 4.40 | 4.40 | = | 966 | ÷ | 219,592,294 | |
| Mar 19, 2020 | — | = | 149.23 | ÷ | -0.63 | -0.63 | = | -139 | ÷ | 219,521,425 | |
| Mar 25, 2019 | — | = | 154.69 | ÷ | -0.96 | -0.96 | = | -211 | ÷ | 219,535,216 | |
| Mar 22, 2018 | — | = | 131.41 | ÷ | -1.17 | -1.17 | = | -256 | ÷ | 218,327,862 | |
| Mar 21, 2017 | 25.18 | = | 83.64 | ÷ | 3.32 | 3.32 | = | 734 | ÷ | 220,849,268 | |
| Mar 23, 2016 | 7.94 | = | 57.29 | ÷ | 7.21 | 7.21 | = | 1,620 | ÷ | 224,493,192 | |
| Mar 18, 2015 | 6.31 | = | 61.63 | ÷ | 9.77 | 9.77 | = | 2,219 | ÷ | 227,204,316 | |
| Mar 10, 2014 | 5.28 | = | 52.59 | ÷ | 9.95 | 9.95 | = | 2,262 | ÷ | 227,185,041 | |
| Mar 18, 2013 | 4.38 | = | 40.03 | ÷ | 9.13 | 9.13 | = | 2,043 | ÷ | 223,800,000 | |
| Mar 15, 2012 | 4.84 | = | 40.08 | ÷ | 8.28 | 8.28 | = | 1,883 | ÷ | 227,300,000 | |
| Mar 18, 2011 | 5.58 | = | 39.40 | ÷ | 7.06 | 7.06 | = | 1,609 | ÷ | 227,900,000 | |
| Mar 19, 2010 | 4.53 | = | 29.11 | ÷ | 6.43 | 6.43 | = | 1,474 | ÷ | 229,300,000 | |
| Mar 20, 2009 | 2.31 | = | 13.39 | ÷ | 5.79 | 5.79 | = | 1,311 | ÷ | 226,400,000 | |
| Mar 28, 2008 | 5.95 | = | 31.77 | ÷ | 5.34 | 5.34 | = | 1,231 | ÷ | 230,300,000 | |
| Jun 4, 2007 | 9.35 | = | 45.10 | ÷ | 4.82 | 4.82 | = | 1,115 | ÷ | 231,200,000 | |
| Mar 30, 2006 | 11.07 | = | 38.07 | ÷ | 3.44 | 3.44 | = | 791 | ÷ | 230,100,000 | |
| Mar 31, 2005 | 10.47 | = | 29.76 | ÷ | 2.84 | 2.84 | = | 648 | ÷ | 228,000,000 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Autodesk Inc. Annual Report.
The financial trajectory from 2005 to 2024 is characterized by a substantial increase in share price, alongside significant volatility in book value per share and the resulting price-to-book value (P/BV) ratio.
- Share Price and Book Value Evolution
- The share price exhibited a long-term upward trend, rising from 29.76 USD in 2005 to 218.20 USD by June 2024, with a peak of 261.50 USD in 2021. Book value per share (BVPS) grew steadily from 2.84 USD in 2005 to a peak of 9.95 USD in 2014. However, a sharp contraction occurred between 2015 and 2018, leading to negative book values from 2018 through 2020, with the lowest point reaching -1.17 USD in 2018. A recovery phase began in 2021, with BVPS returning to positive territory and climbing to 8.61 USD by 2024.
- Price to Book Value (P/BV) Trends
- The P/BV ratio experienced several distinct phases. An initial period of relative stability occurred between 2005 and 2016, with the ratio fluctuating between a low of 2.31 in 2009 and a high of 11.07 in 2006. A significant valuation shift occurred in 2017, where the ratio surged to 25.18. Due to the negative book value per share recorded between 2018 and 2020, the P/BV ratio became mathematically undefined or unavailable during this window.
- Recent Valuation Peaks and Normalization
- Upon the return to positive equity in 2021, the P/BV ratio reached an extreme peak of 59.48, reflecting a high market premium relative to the company's net asset value. Since this peak, a corrective trend has been observed, with the ratio declining steadily to 48.29 in 2022, 37.37 in 2023, and finishing at 25.34 by June 2024.
The overall analysis indicates a transition from a valuation model based on modest multiples of book value to one characterized by significantly higher premiums, likely reflecting a shift in market perception of the company's intangible assets or future earnings potential relative to its physical book value.
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Comparison to Competitors
Autodesk Inc., P/BV, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 10, 2024 | 25.34 | 7.98 | 12.61 | 99.97 | 15.15 | 15.94 | 8.75 | 9.47 | 11.71 | 45.25 | 58.42 | 21.15 | 4.94 | 21.71 | 8.48 | 8.63 |
| Mar 14, 2023 | 37.37 | 7.44 | 16.31 | 16.06 | 24.05 | 21.22 | 7.49 | 8.92 | 11.92 | 308.71 | 14.90 | 42.84 | 3.13 | 20.60 | 14.02 | 8.58 |
| Mar 14, 2022 | 48.29 | 7.13 | 11.22 | 2.67 | 18.46 | 17.39 | 5.34 | 7.20 | 12.38 | — | 6.94 | 252.00 | 3.37 | 18.36 | 9.24 | 12.68 |
| Mar 19, 2021 | 59.48 | 11.06 | 15.94 | 7.83 | 13.68 | 48.66 | 5.90 | 15.71 | 15.16 | 41.57 | 10.48 | 71.88 | 4.73 | 30.36 | 10.50 | 18.38 |
| Mar 19, 2020 | — | 8.51 | 16.53 | — | 14.90 | 31.25 | 5.24 | 17.71 | 13.11 | 14.01 | 28.60 | 20.61 | 4.48 | 40.91 | 7.57 | 15.54 |
| Mar 25, 2019 | — | 8.15 | 16.03 | — | 9.51 | 16.83 | 6.04 | 20.00 | 10.30 | 8.59 | — | 12.91 | 7.66 | 31.48 | 5.16 | 21.26 |
| Mar 22, 2018 | — | 9.44 | 12.76 | — | 12.50 | — | 7.40 | 24.12 | 10.02 | 3.84 | — | 22.92 | 9.93 | 39.03 | 3.68 | 18.62 |
| Mar 21, 2017 | 25.18 | 10.08 | 11.50 | — | 11.49 | — | 8.20 | 26.72 | 7.69 | 3.90 | — | 17.37 | 7.78 | 48.15 | 3.99 | 14.93 |
| Mar 23, 2016 | 7.94 | 9.83 | 7.37 | — | 11.10 | — | 9.30 | 24.96 | 6.08 | 3.49 | — | 16.91 | 9.45 | 37.73 | 2.81 | 12.36 |
| Mar 18, 2015 | 6.31 | 11.33 | 6.35 | — | 4.61 | — | 8.92 | 10.00 | 4.66 | 3.66 | — | 32.11 | 10.57 | 15.42 | 2.20 | 13.98 |
| Mar 10, 2014 | 5.28 | 8.96 | 5.26 | — | 4.06 | — | 13.73 | 7.79 | 3.96 | 3.82 | — | 16.81 | 12.79 | 26.77 | 2.12 | 14.17 |
| Mar 18, 2013 | 4.38 | 10.06 | 4.49 | — | 3.74 | — | 8.37 | 5.28 | 3.36 | 3.13 | — | 12.19 | 11.74 | 24.35 | 2.19 | 17.51 |
| Mar 15, 2012 | 4.84 | 11.05 | 2.84 | — | 4.38 | — | 11.77 | 6.46 | 3.68 | 3.11 | — | 19.49 | 12.73 | 19.86 | 1.93 | — |
| Mar 18, 2011 | 5.58 | 10.33 | 2.66 | — | 7.87 | — | 11.39 | 5.46 | 4.07 | 4.12 | — | — | 12.71 | — | 1.84 | — |
| Mar 19, 2010 | 4.53 | 11.06 | 3.29 | — | 9.33 | — | 8.57 | 5.05 | 4.84 | 3.52 | — | — | 9.19 | — | 1.93 | — |
| Mar 20, 2009 | 2.31 | 9.61 | 3.68 | — | 14.21 | — | 7.26 | 3.50 | 5.36 | 4.29 | — | — | 5.65 | — | 1.71 | — |
| Mar 28, 2008 | 5.95 | 9.15 | 2.34 | — | 10.30 | — | 8.61 | 4.76 | 6.47 | 4.66 | — | — | 15.76 | — | 1.68 | — |
| Jun 4, 2007 | 9.35 | 14.69 | 4.24 | — | 1.49 | — | 5.56 | 4.74 | 33.73 | 5.96 | — | — | 17.53 | — | 2.67 | — |
| Mar 30, 2006 | 11.07 | 13.85 | 4.39 | — | 3.45 | — | 4.96 | 6.56 | 19.86 | 5.28 | — | — | 21.98 | — | 3.34 | — |
| Mar 31, 2005 | 10.47 | 13.33 | 12.48 | — | 2.78 | — | 3.80 | 4.73 | 17.90 | 6.31 | — | — | 10.50 | — | 2.57 | — |
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., P/BV, long-term trends, comparison to sector (software & services)
| Autodesk Inc. | Software & Services | |
|---|---|---|
| Jun 10, 2024 | 25.34 | 11.97 |
| Mar 14, 2023 | 37.37 | 11.39 |
| Mar 14, 2022 | 48.29 | 10.54 |
| Mar 19, 2021 | 59.48 | 13.51 |
| Mar 19, 2020 | — | 11.67 |
| Mar 25, 2019 | — | 10.06 |
| Mar 22, 2018 | — | 8.75 |
| Mar 21, 2017 | 25.18 | 7.21 |
| Mar 23, 2016 | 7.94 | 6.29 |
| Mar 18, 2015 | 6.31 | 5.39 |
| Mar 10, 2014 | 5.28 | 5.16 |
| Mar 18, 2013 | 4.38 | 4.47 |
| Mar 15, 2012 | 4.84 | 4.89 |
| Mar 18, 2011 | 5.58 | 5.40 |
| Mar 19, 2010 | 4.53 | 5.32 |
| Mar 20, 2009 | 2.31 | 5.46 |
| Mar 28, 2008 | 5.95 | 6.11 |
| Jun 4, 2007 | 9.35 | 15.50 |
| Mar 30, 2006 | 11.07 | 11.43 |
| Mar 31, 2005 | 10.47 | 11.13 |
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., P/BV, long-term trends, comparison to industry (information technology)
| Autodesk Inc. | Information Technology | |
|---|---|---|
| Jun 10, 2024 | 25.34 | 13.09 |
| Mar 14, 2023 | 37.37 | 11.29 |
| Mar 14, 2022 | 48.29 | 10.25 |
| Mar 19, 2021 | 59.48 | 12.37 |
| Mar 19, 2020 | — | 10.94 |
| Mar 25, 2019 | — | 8.41 |
| Mar 22, 2018 | — | 7.00 |
| Mar 21, 2017 | 25.18 | 5.46 |
| Mar 23, 2016 | 7.94 | 4.53 |
| Mar 18, 2015 | 6.31 | 4.30 |
| Mar 10, 2014 | 5.28 | 4.36 |
| Mar 18, 2013 | 4.38 | 3.50 |
| Mar 15, 2012 | 4.84 | 3.75 |
| Mar 18, 2011 | 5.58 | 3.98 |
| Mar 19, 2010 | 4.53 | 4.16 |
| Mar 20, 2009 | 2.31 | 4.31 |
| Mar 28, 2008 | 5.95 | 4.00 |
| Jun 4, 2007 | 9.35 | 8.64 |
| Mar 30, 2006 | 11.07 | 7.24 |
| Mar 31, 2005 | 10.47 | 7.40 |
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).